The Exchange

Trump’s new tariff threats are sending stocks lower, dashing hopes of a rebound from yesterday’s sell-off. Plus, our strategist is telling investors to seek safety in “defensive value.” And we’re live at CERAWeek in Houston for an exclusive interview with the Cheniere CEO. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The S&P and Nasdaq are back at their lowest level since September as recession fears ripple across Wall Street. We’re breaking down the latest economic data and looking at how to position ahead of more volatility. Plus, Canada’s next prime minister is not shying away from a trade war with the U.S. And we’re live at CERAWeek in Houston with NextEra’s CEO on the company’s outlook and how DC’s budget battle could impact the entire energy landscape. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fed Chair Powell says the Fed is focused on separating the signal from the noise, but with so much uncertainty in the market, we’ll look at how to position in both stocks and bonds. Trump’s tariffs remain a major source of that investor uncertainty, with the president saying reciprocal tariffs could go into effect as early as today. And one portfolio manager says investors should keep the faith in the Mag 7’s fundamentals, despite the noise in the rest of the tech landscape. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Uncertainty about supply chains and higher costs are rattling C-suites around the world, as American companies continue to worry about growth. We’ll ask one CEO who’s uniquely positioned to look at both challenges. Plus, 6 of the Mag-7 stocks are down year-to-date, but Evercore just made one of them their new top pick in the Internet space. And we’ll look at the state of the semis trade as the SMH ETF breaks below a key technical level. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President Trump’s tariffs on Canada, Mexico and China are going into effect today, rattling the markets. We’ll look at how to position and what it all means for consumers and the Fed’s path forward. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tariffs are set to be imposed on Mexico, Canada, and China, but our guest is concerned there doesn’t seem to be any rush for countries to find an off-ramp. Plus, Warren Buffett warns the economy and consumer could weaken, but our market guest is ready to buy any pullbacks and tells us where he sees the most opportunity. And tariffs should be a tailwind for this U.S. uranium producer, but there’s more to this story than trade. The CEO of Uranium Energy Corp. joins us with his outlook for America’s energy security. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President Trump and Vice President Vance argued with Ukranian President Zelenskyy during an extraordinary moment before reporters in the White House. The visit, which was supposed to culminate in a news conference between both leaders, ended with Zelenskyy’s abrupt departure. We follow the live developments and market action as the event unfolds. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

More signs of a slowdown are putting the Fed in a tricky position. We’ll debate what it means for the bull run. Plus, Bath & Body Works is plunging on weak guidance and the risk of tariffs. We’ll look at who else has the most exposure to China. And Trump’s gold card program has a hidden tax break that could lead to a boom in foreign investment. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Amazon CEO Andy Jassy weighs in on AI, James Bond, and why Alexa+ is for the children in an extended interview. Plus, ahead of earnings, we dig into why Wells Fargo says Nvidia is still one of the most attractive secular growth stories in semis. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Leverage, inverse and single-stock funds have exploded in popularity. But, could a turn in the market leave some investors imploding? What to know before you buy into this trend. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A batch of negative data, including weak consumer sentiment, is weighing on stocks. Plus, UnitedHealth plunges as the Justice Department reportedly investigates its Medicare billing practices. And Wells Fargo has the retail names most exposed to the Trump administration’s shifting policy on immigration. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Walmart’s weak guidance is weighing on the Dow, putting it on pace for one of its worst days of the year. Plus, a flurry of Fed officials are weighing in on tariff uncertainty and warning of a material slowdown. And the housing market could be set for another soggy spring selling season. We’ll ask the CEO of Tri Pointe Homes about what he’s seeing. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President Trump reiterated his reciprocal tariff plan over the weekend. We’ll speak to an expert that says it really could lead to 20% or more tariffs on many of our biggest trading partners.Plus, shares of Intel are surging again today amid reports it could be broken in two. But we’ll speak to an analyst who says he has a “better” idea to create value.And, U.S. and Russia officials are holding their first high-level talks in more than two years, as they try to negotiate a truce in the Ukraine conflict. We’ll get the latest details. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The major averages are set to end the week higher despite a whirlwind week of tariffs, inflation, and Musk-driven drama. But President Trump’s rhetoric around defense spending is spooking that sector. And Intel is on pace for its best week since 2000 on rumors of a tie-up with Taiwan Semi. We’ll cut through the noise with Bernstein’s Stacy Rasgon. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President Trump is set to impose new, reciprocal tariffs on other nations, matching what they currently charge the U.S. to import goods. We’ll look at the fallout for stocks and the inflationary impact. And is DOGE distracting Elon Musk from Tesla? Wedbush’s Dan Ives doesn’t think so, and says deregulation will drive another $1 trillion in market cap for the EV maker. And Atlantic Council CEO Fred Kempe is in Munich with what European officials are saying about a potential truce between Russia and Ukraine. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today’s hotter-than-expected CPI print might make the Fed’s path forward a bit murkier, as Powell doubles down on not rushing to cut rates with the economy as strong as it is. Plus, Elon Musk is laying out his vision for DOGE’s cuts to the federal government, as his feud with OpenAI’s Sam Altman continues. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fed Chair Powell is wrapping up his first day of testimony on Capitol Hill, saying there’s no rush for the central bank to cut rates. Plus, Elon Musk is making an offer to buy OpenAI, but Sam Altman wasted no time shutting that down. And BYD is taking aim at Tesla in China with its new driver assistance technology Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Inflation is stealing the show today with consumers increasingly anxious about tariffs and higher costs. KPMG’s Diane Swonk is now forecasting zero Fed rate cuts this year and joins us to make her case. Plus, we’ll speak with the Frontier CEO as the stock soars on the back of earnings and on the heels of making another offer to buy Spirit. And the U.S. unit of Belgian cement producer, Titan America, is going public on the NYSE. The CEO joins us in a First on CNBC interview. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

January’s jobs report is on deck, and there’s likely to be a huge swing on the monthly figure and some major revisions. Plus, tech stocks are underperforming this year at a level we haven’t seen in over a decade. And Amazon, Affirm, and Expedia results are on deck. We have the numbers and narratives to know in Earnings Exchange. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Alphabet shares are selling off after missing revenue estimates, but one tech portfolio manager isn’t worried about it. Plus, researchers uncovered a troubling connection between DeepSeek and a Chinese telecom company that’s banned from doing business in the U.S. We’ll speak with the man behind the report. And gold is hitting another record high as the dollar gains strength too, and that has one portfolio manager looking to buy some unloved names. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Wall Street is back in love with growth names like Meta and Palantir, but our guest has a word of caution for investors banking on big returns. Plus, more companies are splitting their stock and seeing big returns afterwards. We’ll ask Bank of America who’s next on their watchlist. And tariffs are mostly on pause, but there’s another headwind on the horizon for retail stocks. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks are cutting their losses after opening sharply lower, following news of a temporary tariff deal between the U.S. and Mexico. We have the impact to the economy and supply chain. Plus, one CEO is warning of a lumber supply shock as homebuilders depend on Canadian lumber to construct houses. And Nvidia is coming off its worst week in more than two years after the DeepSeek-induced sell-off. Wall Street’s #1 analyst joins us with a look at the tariff risk facing the space. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Fed’s preferred inflation gauge came in-line with estimates. We’ll look at how to position as stocks shake off a rough start to the year. Plus, Nvidia’s CEO is at the White House to meet with President Trump. And tariffs are set to take effect on Mexico, Canada, and China tomorrow. We’ll look at which companies have the most exposure and how to protect your portfolio. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tesla moving higher despite dismal results, but our analyst says its in a unique position with a supercharged AI and self-driving outlook. Plus, Apple is on deck to report results and one CIO says the bar seems pretty low post-DeepSeek. And UPS is tracking for its worst day on record after announcing plans to scale back Amazon deliveries. We’ll speak with the CEO about that and their cost-cutting efforts. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’re gearing up for the Fed’s first rate decision under the second Trump administration, and what to expect Chair Powell to say at his press conference. Plus, Nvidia falling again on more AI news and reports of potentially stricter restrictions on their China sales. And we’ll look ahead to Microsoft, Tesla and Caterpillar’s results after the bell in Earnings Exchange. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Nasdaq is rebounding after yesterday’s Nvidia-led sell-off, but Vaneck’s CEO sees more pain ahead for big tech. If that comes to pass, Barclays says health care stands to be the biggest beneficiary of tech’s underperformance, and our analyst has the names with the biggest upside. And consumer confidence came in weaker than expected as Main Street remains pessimistic about their future employment. We’ll look at what it means for the Fed’s next move. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

DeepSeek isn’t just outperforming Silicon Valley competitors – it’s also open-source, cost effective, and requires way less computational power. VC Bradely Tusk tells us it’s going to be really hard to tell his starts ups not to use it. Plus, some good news on the housing front. New home sales were better than expected, and rents are coming down. This matters to CPI, PCE and to the Fed. We discuss if a rate cut could be on the docket for Wednesday’s meeting. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The S&P 500 is hitting another record high ahead of the busiest week of earnings, but our market guest is worried about one risk to the overall rally. Plus, President Trump wants the Fed to cut rates, and our economist thinks he might get his wish times three! And Netflix is getting another big upgrade on Wall Street to cap off the stock’s best week in a year. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President Trump speaking to bank CEOs at Davos, and throwing punches at some of them with his comments too. Plus, Blackrock’s Larry Fink is warning of renewed inflation risk to the market. And Netflix is moving higher again today after its blowout earnings report. We’ll look at the fallout for the media landscape. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Trump-backed, multibillion-dollar AI initiative “Stargate” answers some key questions about the AI trade, according to one analyst. Plus, JPMorgan Chase CEO Jamie Dimon says a strong dollar isn’t bad, but P&G’s CEO says it isn’t good either, and our market guest says staying small helps avoid it altogether. And the CEO of Chuck E. Cheese’s parent company joins us with the latest on their turnaround efforts after filing for, and emerging from, bankruptcy in 2020. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Day 1 of Trump 2.0 brought 46 presidential actions, along with a shift in tone on tariffs that the market seems to be welcoming today. We have the latest and what could happen next. Plus, venture capitalist Bradley Tusk says Trump repealing Biden’s orders on AI doesn’t matter and will join us to explain. And S&P Vice Chair Dan Yergin is live from Davos with the business community’s reaction to Trump declaring a “national energy emergency”. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Will TikTok go dark this weekend? Will Elon Musk buy it? We game out the likely scenarios for the social media apps—and dig into the cybersecurity risks for both users and non-users alike. Bitcoin up 10% in the week before Trump’s inauguration, just how high crypto can go this year, according to Standard Chartered. Plus, Bernstein analyst Toni Sacconaghi tells us where he’s finding value in big tech in his final TV interview ahead of retirement. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President-elect Trump’s pick for Treasury Secretary is testifying before the Senate Banking Committee. Plus, we have an exclusive sit-down interview with Citi CEO Jane Fraser on the heels of the bank’s strong quarterly results. And USAA’s CEO is on the ground in California as residents begin to rebuild their lives in the wake of the devastating wildfires. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Inflation is cooling, yields are dropping, and stocks are rallying. Can today’s market action last or is it a last hurrah before tariffs take center stage? Plus, deal activity is surging to start the year. We’ll look at who could be next. And we’ll speak with one TikTok creator with millions of dollars at stake about how she’s preparing for a potential ban. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks moving lower on the eve of earnings season, but our guest is warning of a different risk that the market is underpricing. Plus, TikTok denying a report that it’s weighing a sale to Elon Musk. We’ll look at the platform’s most likely path forward. And our strategist has the sectors he expects to come out on top this earnings season, and some of them may surprise you. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The global surge in bond yields and the dollar is putting pressure on tech stocks. We’ll dig into how long these headwinds could persist. Plus, Meta CEO Mark Zuckerberg is calling out Apple for a lack of innovation and for “squeezing people.” We’ll look at the potential fallout for advertisers amid his recent political shift. And Redfin is fielding thousands of calls as the rental market looks to absorb the fallout from the California wildfires. We’ll check on the real estate market with the broker’s CEO. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks selling off on today’s jobs report, now erasing all their post-election gains, and one of our guests says don’t expect that to change until yields move lower. Plus, Disney, Fox and Warner Bros. are pulling the plug on their joint venture, Venu Sports. We’ll look at why and what it means for the media landscape. And NATO’s former Supreme Allied Commander Adm. James Stavridis joins us with a look at Greenland’s strategic importance and how the U.S. can expand its presence there. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Deadly wildfires continue to devastate Southern California. We speak with two people directly impacted. Plus, we’re decades away from useful quantum computers – or so says Nvidia CEO Jensen Huang. We talk to one CEO who says that timeline is dead-wrong. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Mark Zuckerberg is taking a page out of Elon Musk’s playbook by eliminating fact checkers in favor of community notes. We have the details and a look at the bigger battle that could be brewing. Plus, MoffettNathanson is downgrading Apple to Sell for the first time, and it’s got Wall Street second-guessing the stock. The analyst behind that call joins us to make his case. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Pres.-elect Trump denies he’s considering paring back tariffs, so what would a full rollout mean for stocks, bonds, and currencies? We’ll debate. Plus, Disney striking the first big media deal of the year with Fubo. We’ll break down the details and what it means for the broader media landscape. And one analyst calls 2025 the year of the underdog airlines, and she’s upgrading American as a result. She’ll join us to make her case. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Rep.-elect Mike Johnson is fighting to retain the gavel as House Speaker, and we’ll game out the potential impact of a protracted battle for speakership. Plus, our market guest is staying bullish on the U.S. despite the drama in D.C., and joins us with the themes driving stocks in the new year. But our technician isn’t feeling so optimistic, and brings three charts that make him worry about near-term risk. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

2025’s first big data point is a strong one, but our market guest still sees the Fed cutting rates for times this year. Plus, Tesla getting hit after its first-ever annual drop in deliveries, but our analyst is watching the trends in autonomous driving instead. And we’ll speak with the CEO of a company involved in every aspect of LNG, ahead of a predicted natural gas boom Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

AI was the big story of the year, but now it needs to grow up, according to our market guest. Plus, insurance stocks soared in 2024, but so have property insurance premiums. We’ll tell you how to mitigate risk, potentially lower your payments, and position your portfolio for big gains in 2025. And we’re live at the NYSE for the annual singing of “Wait ‘Till The Sun Shines Nellie,” led by the late Art Cashin’s family. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Despite stocks sinking into year-end, Citi is staying optimistic for 2025 and their US equity strategist joins us with the names he expects to outperform over the next 12 months. Plus, homeflipping profits are plunging as rates go higher. And we look back at the life, legacy, and economic record of former President Jimmy Carter. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Big tech is getting pounded, Bitcoin is falling, and treasury yields are moving lower. We dive into today’s market sell-off as we round out the holiday-shortened trading week. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

David Zervos tells us why he thinks the Fed is too restrictive heading into the Trump administratio. A retail analyst brings us the four names he’s most bullish heading into 2025--including one stock that’s up 20% in the past month. Plus, the PMG CEO gives us his read on the health of commercial real estate, and why rents won’t be falling any time soon. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.