The Exchange

The market seems to be ignoring today’s retail sales data ahead of the Fed decision on interest rates tomorrow. We’ll look ahead to the most uncertain Fed meeting in nearly a decade. Plus, the CEO of Rocket Companies says a quarter-point cut could lead to mortgage rates climbing in the near term. He’ll join us to explain why. And one analyst sees several names at or near inflection points, even if things slow down into the holiday season. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’re two days away from one of the most consequential Fed meetings in recent years. Will the market get a half-point cut or only 25 basis points? We’ll look at the latest odds and what it means for investors. Plus, Brown Harris Stevens CEO Bess Freedman joins us ahead of the decision with what it will mean for the housing market. And the Dean of Valuation, NYU Professor Aswath Damodaran, is here with his take on Apple and the three companies facing life cycle challenges. 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.

If the Fed is expected to do a series of cuts, and the risks to the labor market are to the downside, then why not start with a half-point cut? Former Cleveland Fed President Loretta Mester joins Kelly in-studio to discuss. Plus, one of our guests says markets aren’t moving on rates right now, and joins us with how to position. And Disney is cutting prices as Warner Bros Discovery locks in a new distribution deal. We’ll look at the latest in the streaming wars. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The latest read on inflation is dashing hopes for a half-point rate cut next week, but one of our guests says the size of the first cut doesn’t matter and the time to deploy cash is now. Plus, subprime is the new prime, if you believe the latest commentary from some of the banks. And there’s one group of consumer stocks that may remain stuck in neutral, even in a soft-landing situation. We look at the trades you may want to avoid. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Oracle hitting a record high after an earnings beat and high-profile partnership announcements…how the tech stalwart might’ve just become a new AI darling. Harris and Trump set to square off on the debate stage tonight. We dig into the similarities and differences in the candidates’ policies. Plus, not just the markets split on whether the Fed will cut by 25 or 50 basis points next week, according to Evercore’s Krishna Guha. He tells us why Jay Powell’s rate decision could come down to the 11th hour. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’ve got live updates from Apple’s “Glowtime” event in Cupertino. The tech giant unveiling its latest iPhone model, but will it be enough to convince customers to upgrade? And can Apple play catch-up in the AI race?Plus, Bank of America says not to buy the tech dip, but UBS sees it as an opportunity—the strategists make their cases. 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.

Stocks are lower after the economy showed more signs of a labor slowdown ahead of tomorrow’s jobs report, but our market guest is staying optimistic for a 4th-quarter rally. Plus, US Steel remains under pressure on reports that the Biden administration will block its deal with Nippon Steel. And CNBC is unveiling its Official 2024 NFL Team Valuations today. We’ll tell you which team tops the list and which franchises are falling behind. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Most of the chipmakers are under pressure again today, but one value investor says it’s time to buy and joins us with the names he’s bullish on. Plus, the yield curve is disinverting for the first time since the August sell-off, but a different part of the bond market is flashing a bullish signal for stocks. And Bernstein is naming an unloved off-price retailer as its top pick in the space. The analyst joins 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.

A new batch of economic data is raising fresh concerns about the health of the economy. We’ll look at how to protect your portfolio from a potential September swoon. Plus, Intel is launching its latest AI PC chip, but it may be too little too late to turn things around, according to our market guest. And housing affordability is front and center in this election. We’ll check in with one company that still offers a 2% mortgage even as rates remain stubbornly high. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The soft-landing narrative is getting stronger with the Fed’s preferred inflation gauge coming in as expected. It could be smooth sailing for investors from here, but our market guest has one major concern. Plus, we’ll check in with one company that’s leveraging AI to keep the lights on, literally. And Abercrombie & Fitch is getting some love on Wall Street today, thanks in part to its inroads with Gen Z. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Dow is hitting a record high on the back of Nvidia’s solid report, so what’s the next catalyst or concern for the market? We’ll debate. Plus, Citi’s analyst double-upgraded Best Buy from a sell rating to buy ahead of its blockbuster report. He’ll join us with where else he’s seeing opportunity in retail. And Tanger is uniquely positioned to monitor foot traffic with its 40 shopping centers across the country. The CEO joins us with the trends they’re seeing. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Nvidia is set to report after the bell today. We’ll look at why it’s so important to the market and what Wall Street will be watching for in the results. Plus, Box shares are having their best day in 3 years on an earnings beat and guidance hike. Founder & CEO Aaron Levie joins us exclusively to discuss the results and future of AI regulation. And it’s not just Nvidia. Affirm, Crowdstrike, and Dollar General are on deck to report, and we’ll look at how to position ahead of the print 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.

How fast and how far will the Fed go with interest rate cuts? Fed Chair Powell didn’t say, but he did signal a September start. One economist says he wishes Powell hadn’t boxed himself in and joins us to explain. Plus, billionaire investor Greg Flynn is putting $40M into the San Francisco office-property market, saying now is the right time to get in. And we’ll look ahead to Box, SentinelOne, and Nordstrom’s reports 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.

Fed Chair Powell delivered what the market wanted, but will Nvidia keep up its end of the bargain when it reports earnings this week? We’ll debate the high-flying AI tech stock. Plus, the consumer continues to seek value, and new data from Mizuho suggests an under-the-radar food name is poised to outperform. And one fitness stock is trading at a 15-month high as Baird names it its new bullish, fresh pick. 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 signaling that the Fed will cut rates next month, and while he stopped short of saying by how much, one of our guests is confident it’ll be by 50 basis points. Plus, Our strategist is bullish on what he calls AI 2.0 companies and brings us the names he says are in a sweet spot. And hopes of a turnaround helped Peloton rally toward its best day ever yesterday. Today, we’re looking at the turnaround trade in 3 Buys and a Bail. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Our market guest is shifting gears to small-cap tech to find opportunity and joins us with the names she is watching. Plus, retailers are trying to offer consumers more value deals, but one in particular is doing it better, according to Bank of America. And Peloton is surging after posting its first sales increase in nine quarters, but will it be enough to turn things around? Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Dow could top 47,000 in the next 12-18 months, according to our strategist. He’s bullish in the long-term, but has three dividend darlings to weather the near-term volatility in the market. Plus, VP Harris’ running mate Gov. Walz is speaking tonight at the DNC. We’ll get a live report ahead of those remarks and look at one key area that the Democrats’ economic agenda doesn’t address. And payroll growth is being revised lower by the Labor Dept. We’ll tell you what it means for the economy, and why it could matter to the Fed. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Our market guest says the bulk of stocks are trading at reasonable or attractive valuations and joins us with the names to buy. Plus, our technician says the moves in stocks and bonds are becoming increasingly correlated, signaling one group is due for a pullback. And the so-called “conscience of capitalism” John Hope Bryant joins us to make the case for the 40-year mortgage as a way of making home ownership more accessible. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Three central bankers spoke out over the weekend, with all seemingly in favor of a September rate cut. Our strategist still sees three cuts this year and joins us with his read on the economy. Plus, the Democratic National Convention kicks off in Chicago today, and we have a live report from Chicago with what’s at stake and what a Harris presidency means for your money. And UBS sees the foundations for a homebuilder rally forming, despite the recent negative data. Their analyst will join us with the name he sees rallying 16% from here. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks are on pace for their best week of the year, but one portfolio manager says investors are ignoring two very significant market risks. Plus, Vice President Harris is laying out her economic policies ahead of next week’s DNC. And Robert Frank is in Monterey, California, with a look at the $30B classic car market and the $400M test it faces this week. 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.

July’s consumer inflation read not matching the tenor of the cooler wholesale inflation print. Our panel of experts discusses whether that means a 50 basis point rate cut at the next Fed meeting is off the table. But whatever track the Fed takes Morgan Stanley says rate cuts will help REITs both on a macro level and on a fundamental one. Their head of Global Listed Real Assets lays out the names to buy now. Plus, Mars agreeing to buy Kellanova in one of the biggest deals the industry has ever seen, Elliott Management readies a proxy fight against Southwest, and we preview Macy’s, Tapestry, and Alibaba earnings. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Starbucks shocking the business world today by ousting their CEO in favor of Chipotle’s chief executive Brian Niccol. We have Wall Street’s reaction, the bottom line for investors, and leadership lessons to take away. Plus, this morning’s wholesale inflation report came in lighter-than-expected, but is it enough to derail a rate hike from the Fed next month? And we’ll look at the price action in commodities as tensions in the Middle East ramp up. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Markets are holding steady ahead of this week’s economic data, and our guest is looking at some names to find value in the market volatility. Plus, retail earnings ramp up with Home Depot results on deck tomorrow morning. We’ll speak with the analyst who forecast the slowdown in home renovations two years ago. And Nvidia is bouncing back from the recent sell-off. We’ll look at whether it’s too late to buy the stock. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks are struggling to end the week higher, as the Fed’s path toward rate cuts is getting a little murkier. We’ll look at how to position within the Magnificent 7 stocks and beyond. Plus, China’s inflation data suggesting more government stimulus may be needed there. Our guest is highlighting one catalyst that could jumpstart Chinese equities. And SweetGreen is surging after a big earnings beat and guidance hike. The CEO joins us in a “First on CNBC” interview with what’s driving growth in a tougher macro environment. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We have fresh data from Bank of America Institute, giving us a real-time picture of what's going in the economy. We’ll speak with the woman in charge about the health of the consumer. Plus, stocks are rallying on the back of new jobless claims data, but one of our market guests warns it could be a head fake. And Interactive Brokers Chairman Thomas Peterffy joins us with a first look at demand for the company’s new event contract business. 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 Bank ETF is on track for its worst month since last March amid the regional bank crisis, but JPMorgan is only 7% away from last month’s record high. Our Leslie Picker sits down with JPMorgan Chase CEO Jamie Dimon to talk about the business, the Fed, the economy, the markets, politics, and much more. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks are rebounding from yesterday’s sell-off. We’ll debate whether the growth scare is overdone or if it’s the beginning of a bigger pullback. Plus, is it time to buy the dip on tech stocks? Our market guest thinks so and has the names he’s buying at these levels. And Disney is raising prices on its streaming services. We’ll look at whether it can get the stock out of its recent rut. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks are selling off to start the week amid growing concerns of a recession. We have team coverage tracking the Fed’s path forward, the plunge in treasury yields, and the drop in mortgage rates. Plus, WaFd CEO weighs in on the strength of the consumer and state of loan demand. And mega-cap tech stocks are erasing trillions of dollars’ worth of market cap. We’ll put the sell-off in perspective. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

July’s jobs report came in much weaker than expected, triggering the key recession indicator known as the Sahm Rule. Its namesake joins us with her read on the economy. Plus, Intel’s having its worst day in 50 years after a disappointing earnings report. We’ll hear from CEO Pat Gelsinger. And capex spending is a major theme for tech companies reporting this week. We’ll speak with a key player in the space exclusively. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today’s weak economic data is weighing heavily on stocks and yields as the 10-year falls below 4%for the first time since February. We’ll look at what it means for the Fed’s path forward. And in the largest East-West prisoner swap since the Cold War, U.S. journalist Evan Gershkovich is coming home. We’ll look at the nations and individuals involved, and the geopolitical impact with less than 100 days until the election. 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.

We’re counting down to tomorrow’s Fed decision, where Powell is widely expected to signal that the first rate cut will come in September, but our market guest says investors are too focused on that, and not enough on what he sees as the biggest risk right now. Plus, the busiest week of tech earnings continues with Microsoft reporting after the bell. We’ll look at how to position ahead of the print and whether the broader pullback in tech is over. And Wall Street is waiting for Vice President Harris to pick her running mate. We’ll show you the shortlist, and what it means for the fundraising race. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

It’s the busiest week of earnings season, combined with a ton of macro data and Wednesday’s Fed decision on interest rates. We’ll look at how to position for this massive market-moving week. Plus, Vanguard has a new CEO and it’s the first-ever outsider to helm the company. Bob Pisani sits down with him four weeks into the job. And we’ll bring you the action, the story, and the trade on Procter & Gamble, JetBlue, and Pfizer. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The longer the Fed waits to cut, the more they risk that something breaks, according to Moody’s chief economist Mark Zandi. He’ll join us to make his case, in light of today’s PCE inflation data. Plus, Digital Realty’s CEO joins Kelly on the heels of their quarterly results with what’s driving demand for data centers. And weakness in China is one of this earnings season’s big themes, but our market guest says that presents a buying opportunity for investors. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Was yesterday’s selloff a healthy correction or reason for concern? We speak with one guest who says the rally is intact, but it will be hard to make new highs until one thing happens. Plus, tech investor Gene Munster says the pullback in tech presents a great buying opportunity. He tells us what he’s watching. And three more names are on deck to report earnings, including this name our trader calls a “have” in a sector of haves and have-nots. We break it down 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 having its worst day of the year, as Tesla and Alphabet results disappoint. But bitcoin is moving higher, and we’re joined by VanEck’s head of digital assets research who’s making the case for $2.9M by 2050. And Wall Street’s #1 homebuilding analyst is here with his view on the builders as new home sales hit the lowest level of the year. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We're in an early bull market, but one of our guests says it's the most unloved bull market she's seen in her career and that presents a lot of opportunity. She’s also a Tesla shareholder and says it's a stock you buy in times of chaos. With earnings on deck, is this one of those times? And is a credit card backed by your home equity line of credit a great innovation or risky business? We have the details ahead. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

More Democrats are coming out in support of Vice President Kamala Harris. We take a look at what’s next, how it’s changing Team Trump’s strategy, and whether it should change your market strategy. Plus, just last week Strategas’ Dan Clifton told us this is the most investable election in his professional career. Is that still the case, or is he reshuffling election baskets? We check back in with him. And tech is rebounding after last week’s massive rotation into small caps. So does this mean the bounce-back is over? We discuss. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Former President Trump is accepting the GOP nomination as pressure builds for Pres. Biden to drop out of the race. We’ll get the latest from Washington and hear from two experts on each side of the aisle about what could be next. Plus, our market guest is using history as a guide and positioning for gains he sees ahead in the small caps. And Crowdstrike is plunging in the wake of today’s global IT outage. We’re tracking the ripples being felt across tech, banking, and airlines. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’re in the midst of a massive, violent rotation from tech to small caps, but is this a sign that stocks are broadening out or are markets breaking down? Plus, Strategas’ Dan Clifton says this is one of the most investible elections he’s seen in his career and joins us with the stocks to watch ahead of November. And Netflix is on deck to report quarterly results, with options implying a 7% post-earnings move. We’ll look at how to position ahead of the print. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Our market guest says there are two catalysts breaking growth momentum and tells us how he’s taking advantage of the value trend. Plus, there’s one trade our analyst says will work regardless of who becomes president. He’ll join us with the theme and stocks to own. And we’re talking Blackstone, DR Horton and Domino’s Pizza in Earnings Exchange. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Wall Street reacts to former President Trump choosing Sen. JD Vance as his running mate. We look at the implications for the market, the green energy landscape, and health care. Plus, investing opportunities in China, India, and Europe are becoming more attractive to investors. We’ll look at where the biggest risks are. And small-cap stocks are on a historic winning streak, and our market guest thinks they could continue to lead the market for the rest of the year. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fed Chair Powell says more progress on inflation is needed, but if the Fed waits for inflation to get to 2% to cut, it’s too late. Jefferies’ chief market strategist David Zervos joins us with his first take. Plus, we’ll get a live report from Milwaukee as the RNC kicks off and UVA’s Larry Sabato’s reaction to the failed assassination attempt on former President Trump. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Get ready for a value renaissance. Our market guest says it’s coming and he’s bringing his favorite ways to take advantage of it. Plus, the big banks are front and center. JPMorgan, Wells Fargo, and Citi all topped expectations, but are under pressure. The Citi CFO joins us live on the back of the report. And despite ongoing concerns, there’s an opportunity emerging in the commercial real estate space, at least according to Mizuho. That analyst joins us with the shopping center name he’s bullish on. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kelly explains what Helen of Troy’s weak earnings reports means for the state of the broader economy. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Did CPI just cement a September rate cut? Our guests say the door is wide open. We look at what could close it again. Plus, some of the downside surprises beyond the headline numbers, and how to position from here. And, Universa is known as the Black Swan Fund, but the firm sees the S&P hitting 6,000 by year-end. We speak to Universa's COO about what makes them so bullish, some of the risks they are hedging for right now, and how they're positioning because of it. Plus, love in bulk on Wall Street for Costco stock today. The stock is already up more than 30 percent this year, and it's more expensive than Nvidia! So should you own it from here? We talk to one analyst who says yes, she just raised her price target again today. She joins 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.

Kelly explains what the negative June CPI number means for the Fed’s next move. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.