The Exchange
Business
News
CNBC
"The Exchange" on CNBC is a one-stop shop for the day's top business stories, along with breaking news and the must-see market movers heading into the back half of the trading day. This newsroom-based program also features lots of original reporting, in-depth conversations and showcases CNBC's award-winning investigative work. "The Exchange" has all that plus "Rapid Fire," our innovative, reporter driven roundtable – which is a discussion of some of the day's most interesting, unusual and at times controversial topics. This series gives today's modern investor the day's top stories, the must reads & a whole lot more.
Election Day 2024, Foreign Policy Fallout, Fed Decision Countdown 11/5/24
The trades for both candidates seem to be working today with big tech outperforming, along with DJT, crypto and bond yields on the rise. We’ll look at the market implications of today’s election outcome. Plus, foreign policy and the future of NATO is front and center today with the world watching the U.S. choose a new president. And Thursday’s Fed decision is around the corner as 10-year notes go up for auction today. We have the results and analysis.
43:4605/11/2024
Final Election Countdown, Consumer Trades, Berkshire’s Money Moves 11/4/24
We’ll round up the latest polling data and look at the key trades to consider under each outcome. Plus, we’re checking in on the consumer, with inflation and the economy top of mind ahead of tomorrow’s election. And Berkshire Hathaway is revealing its latest moves, including a growing cash pile that’s bigger than most U.S. stocks.
43:4904/11/2024
Jobs Warning Signal?, Read on Retail, 3 Buys & A Bail: MSFT, LLY, PTON, SNAP 11/1/24
Stocks are mostly higher despite a lighter-than-expected jobs report, but if the weakness is just storm- and strike-related, does it even matter to the Fed ahead of next week’s meeting? Plus, one analyst is tracking the scary read-throughs following the busiest week of earnings season and joins us with the fallout ahead of the holiday season. And we’re trading the winners and losers of this earnings week in 3 Buys & A Bail.
43:5101/11/2024
Big Tech Earnings, Comcast Considers Spinoff, CEOs of Generac, Equinix & Kontoor Brands 10/31/24
Apple earnings on deck, as Microsoft and Meta are under pressure following their reports. We’ll look at what went wrong and how it sets up the rest of big tech. Plus, CNBC’s parent company Comcast is considering a spinoff of its cable networks business. We have exclusive comments from Liberty Chairman John Malone. And the CEOs of Generac, Equinix, and Kontoor Brands join us on the heels of their earnings reports.
46:4031/10/2024
Economy Still Resilient? 10/30/24
Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.
43:4930/10/2024
Tech Policy Under Harris vs. Trump & State of the Consumer 10/29/24
Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.
42:5129/10/2024
Big Tech on Deck, The 22-Hour Trading Day, and the Elder Care Gap 10/28/24
Five of the Magnificent Seven report results this week; our technician has the name poised for a breakout. NYSE President Lynn Martin weighs in on the pros and cons of a 22-hour trading day. Plus, the start-up pairing college students with seniors to help close the elder-care gap.
43:4928/10/2024
Investment Opportunities Abroad & Under-the-Radar AI Names 10/25/24
Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.
43:2925/10/2024
Big Tech & The Fed's Rate Path 10/24/24
Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.
44:0324/10/2024
The Bonds to Buy, “Sleepwalking into an Economic Storm”, Tesla Results on Deck 10/23/24
Stocks are moving lower as yields climb yet again. We’ll tell you where the opportunities are and why our strategist is cautious on the long end. Plus, the winner of this year’s Nobel Prize in Economics says America is “sleepwalking into an economic storm”. He’ll join us to explain and tell us about the red flags he’s seeing. And Tesla reports results after the bell today. Bernstein’s Toni Sacconaghi joins us to explain why he sees more than 44% downside ahead.
43:3823/10/2024
Take a Page from Japan, Win-Win for Disney & Nike?, Next Gen Generative AI 10/22/24
Paul Tudor Jones says the U.S. should inflate its way out of debt. We’ll debate the Fed’s path forward from here. Plus, the changes to Disney’s board may be a net-positive for both Disney and Nike. And we’ll talk to one of the biggest players in AI about the next steps and a potential IPO.
43:5022/10/2024
Rate Reversal, Unhealthy Returns, 15 Days Until Election Day 10/21/24
Rates, overall, have moved higher since the Fed’s jumbo rate cut last month. We’ll look at what’s behind the moves and how to position. Plus, Cigna and Humana shares are on the move as deal talks may be back on, but one strategist calls this the most challenging fundamental backdrop ever for health insurers. And we’ve got a view on the ground in one county that could decide the election, as we kick off the 2024 Your Money, Your Vote Roadtrip.
44:0921/10/2024
Cause for a Pause?, Read on REITs, Manufacturing in Mexico 10/18/24
The economy is strong, and the stock market is at record highs. So should the Fed pause rate cuts? We debate and look at where your money is best deployed against this backdrop. Plus, now that several names have reported, we get a gut check on REITs on the heels of that jumbo-sized rate cut. One analyst brings us his top pick from here. And this company has got a large manufacturing base in Mexico, but is still well positioned even if former President Trump gets elected and imposes steep tariffs. We reveal that name and a few other winners.
44:0218/10/2024
Trading the AI story, Viral f(AI)ke podcasts, Earnings Exchange: NFLX, AXP, PG 10/17/24
Chip stocks are hitting new highs, and the AI story seems intact but our market guest says to trade it on the margins and joins us to explain. Plus, Google is using AI to turn text into podcasts, and it could be just the beginning for the next generation of generative AI. And we’ve got Netflix, American Express and Procter & Gamble on deck for Earnings Exchange.
43:5617/10/2024
The Trades Ahead of Earnings, The Tech Value Name to Buy Now, and The Bottom Line on Tariffs 10/16/24
We preview results from three companies our trader calls high quality, with a history of performing well for investors. MAI’s Chris Grisanti has called it right on Verizon and Hershey, he tells us the tech name he says is now a value stock. Plus, Trump promising tariffs so high, US companies will have to return manufacturing stateside—two experts discuss whether that’s feasible, what it means for already-high prices, and which countries could retaliate.
44:0316/10/2024
The Path for Oil Prices, Health Care as a Growth Sector, and Soaring, Shipping, & Storing 10/15/24
With China’s recovery failing to materialize, and Israel vowing to not strike Iran’s oil targets, energy prices are under pressure. Why we could see $50 oil in the near-future. The health care name one strategist is treating like a growth stock. And the action, the story, and the trade on United Airlines, J.B. Hunt, and Prologis in Earnings Exchange.
43:4315/10/2024
A Boeing Debate, China Risks vs. Rewards, and Using AI for a Trading Edge
Boeing pre-announcing a massive third quarter loss and a 10% workforce reduction as its machinist strike pushes into its fifth week. Wells Fargo bearish on the stock, concerned about its free cash flow, but Seaport has three reasons to buy the dip. China’s government re-committing to stimulus measures, but with another round of disappointing economic data overnight, is it too little too late? Plus, not just investing in AI stocks…how hedge funds are leveraging new tech to gain a trading edge.
43:5314/10/2024
Tesla’s Cybercab Debut, GOP’s Union Push, and Potential Pause Picks 10/11/24
Elon Musk unveiling Tesla’s long-awaited robotaxi, the Cybercab, but failing to detail plans for a ride-hailing service; Melius Research warns Tesla may pose a bigger competitive risk to Uber and Lyft than meets the eye. With less than a month until the election, how the GOP is making inroads with the typically liberal unions. Plus, recent data and Fed commentary has investors re-thinking rate cuts--we’ve got five names to play a potential pause.
44:0311/10/2024
Data Distortion, Fading the Fed, Robotaxi Reveal
Inflation a little hotter, jobless claims a little hotter, and the data just keeps getting more distorted. We’re starting to see the impact from storms and strikes, and our economist says the Fed could defer a rate cut because of it. Plus, today’s data giving investors more reason to fade an aggressive Fed. We dive into what that trade looks like and where the opportunities are. And Tesla’s long awaited – and several times rescheduled – robotaxi event is finally happening tonight. We speak with one analyst who says the hype is still real.
52:4710/10/2024
Can Nvidia's Run Continue? Recession Odds & Milton's Impact on Leisure 10/9/24
Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.
43:4909/10/2024
Bracing for Milton, GM Investor Day, Kendra Scott CEO 10/8/24
Florida is preparing for its second major hurricane in as many weeks. We’ll get a live report from the ground, along with the outlook for gasoline and insurance. Plus, GM’s first investor day in two years is underway, with Wall Street squarely focused on GM’s China strategy. We’ll hear from CEO Mary Barra. And the CEO of Kendra Scott is here with a look at the health of the consumer and overall retail.
44:2708/10/2024
Florida Bracing for Milton, Mortgage Rates Rising & September Jobs Report 10/7/24
Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.
44:1507/10/2024
Blockbuster Jobs Report, The Case for Small Caps, Restaurant Stock to Watch 10/4/24
The September jobs report crushed expectations, so did the Fed make a mistake by going big on that first rate cut? We’ll debate. Plus, our market guest says this is what a soft landing looks like, and investors should own small-cap stocks going forward. And restaurants have been challenged by higher wages and a softer consumer, but Guggenheim says one name is dealing with it better than the competition.
43:4904/10/2024
IP(N)O?, Buying the Pullback & Port Strike Pros 10/3/24
One prominent OpenAI investor says the company is too important to forgo the scrutiny of going public, but one of our guests says that as long as Sam Altman can raise gobs of money in private markets, that won’t happen. He explains his take. Plus, the September jobs report is on deck, Middle East tensions are at a boiling point, and the U.S. election is right around the corner. We unpack the uncertainty. And supply chain disruptions are front and center as port strikes hit day three, but some names could actually benefit from the stalemate. One analyst explains.
44:0103/10/2024
OpenAI’s Funding Round, Nvidia’s New Venture, Hidden Threat to Semiconductors 10/2/24
OpenAI is officially closing its multibillion-dollar funding round, marking one of the largest private deals ever seen in Silicon Valley. We have the eye-popping numbers and companies backing the startup. Plus, Nvidia and Accenture are teaming up to accelerate corporate adoption of AI. And Hurricane Helene’s path of devastation took out one of the most important towns for the semiconductor industry.
47:0602/10/2024
Iran Launches Missile Attack on Israel 10/01/24
The latest updates on Iran’s missile attack on Israel, including the ripple effects across the Middle East and the fallout for equities, commodities, and more.
49:2701/10/2024
Middle East Tensions Rising, Hurricane Helene’s Aftermath, Pain at the Ports 9/30/24
Atlantic Council President Fred Kempe and CNBC Contributor Michelle Caruso-Cabrera join us to break down the rising tensions in the Middle East, and what the future of the region holds for investors. Plus, recovery efforts are underway as Hurricane Helene has left more than two million without power. We have the latest and how each presidential candidate is responding to the disaster. And we’re counting down to a potential ports strike with the economic ripple effects and the impact on retailers.
39:2930/09/2024
Inflation Volatility Ahead, Stealth Housing Winners, Tariffs Take Effect 9/27/24
Our economist doesn’t see the bogeyman in today’s economic data, but warns inflation isn’t going to fade away completely. Plus, we’ll look at how to invest in housing as home prices begin to fall in parts of the country. And Chinese equities are having their best week since 2008, but new tariffs go into effect today.
44:0227/09/2024
Beijing’s Big Moves, OpenAI’s For-Profit Pivot?, Southwest Soars 9/26/24
Stimulus news out of Beijing is sparking a massive rally in Chinese equities. We’ll debate whether this is Beijing’s big moment or merely a temporary fix. Plus, OpenAI is in the midst of an executive exodus as it considers restructuring to a for-profit company. And Southwest Airlines is having its best day since early 2020 after some bullish guidance out of its investor day.
46:2226/09/2024
Meta Connect Kicks Off, The Case for Small Caps, and SEIU President on Election & Labor Market 9/25/24
Meta’s high-stakes developer conference is kicking off and we’ve got every angle covered from Wall Street to Silicon Valley as Mark Zuckerberg takes the stage. Plus, small caps are set to outperform in the wake of last week’s Fed rate cut, according to one of our market guests. And with 40 days until Election Day, SEIU’s president joins us with the union’s top concerns and a pulse check on the labor market.
46:2825/09/2024
Buy the Setback Stocks?, Holiday Retail Forecast, Investing in the Nuclear Renaissance 9/24/24
Listen to the day's top stories, theOur market guest says stocks will go higher from here, but don't chase the winners, and buy the setback stocks instead. Plus, consumer confidence is hitting a three-year low. We'll look at how that sets up the holiday shopping season, and the retail trade from here. And we’ll look at one under-the-radar green energy stock and how it's positioned to benefit from the nucelar renaissance. must reads & a whole lot more for today's modern investor.
44:1724/09/2024
Don’t Buy Intel Deal Hype?, Nuclear Deal of the Day, The Leadership Trade 9/23/24
Deal chatter around Intel is running rampant, but our guest says Intel’s not the right fit and has a different semiconductor merger in mind. He’ll join us to make his case. Plus, the U.S. nuclear renaissance is taking shape and we’ll speak with the CEO of Uranium Energy Corp, which just struck a major deal in the energy space. And Nike, Starbucks and Boeing all have new CEOs, but is that enough to invest in their turnaround stories. Tim Seymour joins us with a special 3 Buys, a Bail, and a Boot.
44:0323/09/2024
Fed’s Cutting Conundrum, Bullish on Homebuilders, Temu’s Troubles 9/20/24
46:5720/09/2024
Rate Cut Rally, Staples Surge & Ridesharing Race 9/19/24
Stocks are in rally mode following the Fed’s big rate cut, but our market guest says it may be time to slow down and get cautious. He explains why. Plus, Bank of America crunched the numbers and says one sector – and several names in it – is poised to pop following the first rate cut. The analyst joins us to make his case. And perhaps this is the news you needed today – you can now have Olive Garden breadsticks on demand. We dive into Darden’s new partnership with Uber, and more in the delivery space.
49:5619/09/2024
Final Countdown to Fed Decision, Sens. Warren & Kennedy, SEC Chair Gensler 9/18/24
It’s the final hour before the Fed decision, and our guests are divided on whether the Fed will cut by 25 or 50 basis points. We’ll look at how to position for either scenario and what the path forward for the Fed looks like regardless. Plus, Senators Warren and Kennedy join us in-studio with their take on the Fed decision, the looming government shutdown, and the presidential election. And SEC Chair Gary Gensler is here with a First On CNBC interview, following the agency’s unanimous vote for new rules in the stock market.
52:2918/09/2024
24 Hours Until Fed Decision, Mortgages Rates’ Next Move, Retailers Nearing Inflection 9/17/24
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.
44:1717/09/2024
48 Hours Until Fed Decision, Health of Housing, Dean of Valuation on Apple 9/16/24
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.
47:0516/09/2024
Private Equity in College Sports, Uber & Waymo Expand Partnership 9/13/24
Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.
46:4813/09/2024
Mester on the Fed, Markets & Rates, Disney Cuts Prices 9/12/24
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.
44:0312/09/2024
Data Disappointment, Banks’ Mixed Messages, Stalled Trade 9/11/24
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.
44:0011/09/2024
Oracle’s Big Plans, Candidates’ Big Night, and Powell’s Big Decision 9/10/24
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.
44:0510/09/2024
Apple Unveils iPhone 16 and To Buy the Dip or Not to Buy the Dip? 9/9/24
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.
46:3909/09/2024
Labor Market "On Thin Ice" 9/6/24
Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.
43:1906/09/2024
October Optimism, NFL’s Most Valuable Team 9/5/24
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.
44:0405/09/2024
Semiconductor Sell-off, Bond Market Bullishness, Off-Price On Fire 9/4/24
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.
44:0204/09/2024
September Swoon Ahead?, Intel in Trouble?, Housing Affordability Crisis 9/3/24
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.
44:1703/09/2024
Warning Sign for the Fed?, Powering AI Demand, Gen-Z Love Story 8/30/24
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.
43:2330/08/2024
Catalysts & Concerns, The Next Best Buy, A REIT to Read Retail 8/29/24
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.
43:5029/08/2024
Nvidia Earnings Countdown, AI & Box CEO, Earnings Exchange: AFRM, CRWD, DG 8/28/24
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.
44:0728/08/2024
How Fast & How Far?, $40M Turnaround, Earnings Exchange: BOX, S, JWN 8/27/24
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.
43:5427/08/2024