The Exchange

As the dollar falls and yields climb, we’re asking if this is the beginning of the end of American exceptionalism. Former Treasury Secretary Janet Yelling telling CNBC President Trump’s trade policies are “completely chaotic” after the administration exempted some tech from the newest round of tariffs over the weekend, but then promised there would be different levies on the way. We look at the po...

The bond market is not backing down, but consumer sentiment is near historic lows. We’ll wrap up the latest data and look at how investors should position. Plus, BNY is reaffirming its full-year guidance despite all the uncertainty in the market. The CEO joins us with his take on rates, the consumer, and more. And retail is caught in the middle of President Trump’s tariff fight. We go inside one L...

A strong 10-year Treasury auction pushing stocks higher at the top of the hour, but it was President Trump’s 90 day pause of some tariffs that sent stocks soaring. We have the story as it breaks, including Treasury Secretary Bessent’s news conference, and instant reaction from strategists and traders as the Dow posts its biggest rally in five years.  Hosted by Simplecast, an AdsWizz company. See p...

Stocks lose steam as Trump team sticks by tariffs and a weak bond auction pushes yields higher. Plus, why Needham’s Laura Martin says things are going to get worse for one of tech’s biggest companies.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

It’s been a wild day of swings in the market. From the Dow being down 1,700 points at the low, to up nearly 900 points at the high, we make sense of one of Wall Street’s most volatile sessions ever  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

JPMorgan’s Chief Economist tells us why he upped his U.S recession risk to 60%. President Trump posting he’ll extend the TikTok sale deadline by 75 days—we have instant reaction from the CEO of AppLovin, one of the companies bidding to buy the social media service. Plus, the software name that could be a stealth tariff winner.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for info...

Stocks and yields both sinking after President Trump announced sweeping new tariffs. We dig into how we got here, what it means for Americans’ wallets, and the names best- and worst-positioned names.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

As Wall Street awaits Trump’s tariff announcement, Wolfe Research’s Tobin Marcus says investors are underestimating one of their key features. But it’s not just tariffs making news, the last-minute bids for TikTok coming in fast and furious ahead of Saturday’s deadline. We bring you all the headlines and the big names stepping up to buy it.  Hosted by Simplecast, an AdsWizz company. See pcm.adswiz...

With a little more than 24 hours until Trump’s big announcement, Raymond James’ Ed Mills says the tariff talk is just getting started. The sectors and countries he expects to be targeted first—and why we’ll still be talking about this in a year’s time. If you’re looking for names successfully navigating the uncertainty in the meantime, one portfolio manager has an under-the-radar software pick. Pl...

Tech under pressure again today, but two Mag 7 names are starting to look attractive according to Extel’s 2024 top-ranked portfolio strategist. Economists see an increasing chance of stagflation, so what does that mean for the Fed? And Jefferies’ new cruise stock to buy as travelers begin to trade down.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collec...

Stocks are selling off as growing uncertainty on U.S. trade policy and a more grim outlook on inflation weighs on investor sentiment. Plus, Coreweave makes its public debut, but immediately comes under pressure after pricing below its expected range. And China hawk Kyle Bass chimes in on the market sell-off, saying the economy actually needs a “slight recession”. Hosted by Simplecast, an AdsWizz c...

President Trump’s latest round of tariffs focused on autos and auto parts. We’ve got the details, the winners and losers, and the name one trader says will cut its dividend “immediately.” And while President Trump touts them as a win for America, will the government eventually have to step in to support the automakers like it did farmers following the 2016 tariffs? Plus, Sal Khan on how AI is resh...

Are the markets REALLY ready for tariffs? Just how inflationary could they be? And what does that mean for both business and consumer spending? We dive into all of that ahead of this afternoon’s auto tariff announcement. Plus, the latest on the Trump administration’s Signal group chat fallout.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and u...

Consumer confidence is tumbling to a 12-year low, and one of our guests agrees that a recession is back in play. Plus, our trader covered his Tesla calls, comparing it to catching a falling knife. And we have an exclusive sit-down with the Gap CEO live at the ShopTalk conference in Las Vegas. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use...

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.

The S&P is trying to avoid a 5th-straight losing week, but our market guest insists there are four signals that the correction is over. Plus, Elon Musk holding an all-hands meeting at Tesla last night, and today he’s visiting the Pentagon. We’ll look at whether his reach is getting too wide. And some consumer names are less exposed to tariffs than others. Bank of America gives us the names on thei...

Fundstrat’s Tom Lee joins us with the four positive signs he sees in the market this week. Plus, Tesla is becoming the new political football in Washington, and now even the White House is stepping in to support it. And Robinhood is getting on the action ahead of the NCAA Tournament. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of perso...

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.

Jensen Huang is taking the stage at Nvidia’s biggest event of the year, and Wall Street’s expectations are higher than ever. We’ll look at what to expect and how investors are positioning. Plus, tariffs are hitting the housing market from every angle, but one pre-fabricated homebuilder could be a beneficiary. And President Trump spoke at length with Russian President Putin about a potential ceasef...

Today’s economic data is painting a mixed picture of the consumer, but most of Wall Street remains positive on GDP growth for the year. We’ll debate what it means for the Fed’s path forward. Plus, Klarna is poaching Walmart from its rival Affirm to become the retailer’s exclusive provider of Buy Now Pay Later loans. And the author of “Moneyball” and “The Big Short” joins us in a First on CNBC inte...

Stocks are rebounding today but still on track for their worst week in two years. Plus, our market guest likes gold at record highs, but he’s also starting to nibble on some equities amid the recent sell-off. And Apple is having its worst week in five years, but one analyst says the bears are wrong. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection...

We’re less than 36 hours away from a potential government shutdown, and Senate Democrats seem to be uniting against the House bill. We have the latest from Capitol Hill. Plus, Intel is flirting with its best day since 2020 after hiring a permanent CEO, who Wall Street’s #1 analyst says can drive a turnaround. And DOGE’s cuts to the federal government are having a direct impact on defense and educa...

CPI cooling for the first time since September, but JPMorgan sees a 40% chance of a recession this year due to U.S. policy. We’ll look at the rising recession risk and how to position. Plus, China is targeting Walmart over U.S. tariffs, but our retail analyst still sees plenty of opportunity in the space. And Robinhood’s chief brokerage officer joins us with their latest data and a look at how use...

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 fo...

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...