Morning Call

Apple unveiled its Vision Pro AR/VR headset at the Worldwide Developer Conference yesterday. Big Technology's Alex Kantrowitz discusses the details. Plus, All State and State Farm are refusing to write new property insurance policies in California due to rising climate risk. KBW's Meyer Shields explains the impact on the sector. And, Sam Altman continues his world tour of promoting OpenAI and its...

The world's largest oil exporter, Saudi Arabia, will slash production by 1 million barrels per day starting next month. Kpler's Viktor Katona explains the impact on oil prices. Plus, tech continues to outperform the broader markets, with the Nasdaq notching its first 6-week win streak since 2020. Laffer Tengler Investments' Nancy Tengler and Arete Research's Rocco Strauss discuss the sector. And,...

Today's jobs report is one of the final major economic data points ahead of the Federal Reserve's June policy decision. Grey Duck Outdoor Founder Rob Bossen describes the employment landscape in manufacturing. Plus, the retail sector is currently a case study in the haves and have-nots as key shopper segments pull back. Telsey Advisory Group's Dana Telsey discusses the situation. And, last month,...

The oil market is coming off a disastrous month, which WTI posting its worst performance since November 2021. Rystad Energy's Louise Dickson recaps the month. Plus, the House passed the bipartisan debt ceiling bill by a wide margin last night despite some strong opposition from far-right Republicans. Raymond James' Ed Mills discusses the next steps. And, with Memorial Day posting a record surge in...

The bipartisan deal to raise the U.S. debt ceiling cleared a key hurdle last night and is now on its way to a full House vote later today. Stifel's Brian Gardner explains the latest. Plus, Cleveland Fed President Loretta Mester says she doesn't see any compelling reasons to pause interest rate hikes ahead of the central bank's next meeting. Milken Institute's William Lee discusses the outlook. And...

President Biden and House Speaker McCarthy have reached an agreement to raise the government's borrowing limit and avoid a potential default. Renaissance Macro Research's Steve Pavlick discusses the deal. Plus, with the summer season kicking off, which sectors and stocks are set to benefit? Wedbush's Alicia Reese weighs in. And, heading into a new trading week, AI stocks are coming in hot on the b...

Retail is closing out another busy week of earnings as investors look for insight on the health of the consumer. Storch Advisors’ Gerald Storch and Refinitiv’s Jharrone Martis review the scorecard. Plus, multiple reports say the Biden Administration and House Speaker McCarthy’s office are closing in on a deal over the debt ceiling. Bipartisan Policy Center’s Rachel Snyder gives the latest. And, in...

Another batch of retail earnings is out today as the focus on consumer spending continues. R5 Capital’s Scott Mushkin lays out his expectations. Plus, investors are feeling more anxious over the 11th hour nature of the debt ceiling talks, at least on the fixed income side. Silvercrest Asset Management’s Robert Teeter and BondBloxx’s Joanna Gallegos discuss the recent moves in yields. And, what’s i...

Europe's fine against Meta Platforms for illegal data transfers is the largest penalty to date under the EU General Data Protection Regulation. EU's Data Protection Commissioner Helen Dixon explains the decision. Plus, Nvidia CEO Jensen Huang is warning that U.S.-China tensions will negatively impact the chip industry. Wedbush's Matt Bryson discusses what this means ahead of earnings. And, Hong Ko...

Warner Bros. Discovery launches its merged platform of HBO Max and Discovery+ today. The Benchmark Company's Matthew Harrigan discusses the impact on the streaming landscape. Plus, Lowe's reports earnings this morning following Home Depot's worst revenue miss in nearly 20 years. UBS' Michael Lasser breaks down his expectations. And, so far, the debt ceiling standoff doesn't appear to be rattling t...

President Biden and House Speaker McCarthy are set to resume face-to-face debt ceiling negotiations at The White House today. 22V Research’s Kim Wallace brings the latest. Plus, during the past earnings season, the phrase “AI” was mentioned more than 140 times by executives at Alphabet, Meta, and Microsoft. Reuters Breaking Views’ Felix Martin discusses the future for innovation. And, global stock...

While President Biden is in Japan for the G7 conference, the White House says Democratic negotiators are making progress in their debt ceiling talks. Raymond James’ Ed Mills explains the latest. Plus, Deere reports earnings this morning, offering insight into the state of the economy. D.A. Davidson’s Michael Shlisky discusses his expectations. And, new research suggests more traders are favoring b...

Walmart reports earnings this morning after Home Depot and Target said consumers are pulling back on discretionary spending. TD Cowen's Oliver Chen discusses his expectations. Plus, famed hedge fund manager Michael Burry may be betting big on China, but the rest of Wall Street is growing more skeptical about the world's second largest economy. KraneShares' Brendan Ahern breaks down the trade. And,...

Elon Musk says Tesla will deliver its first Cybertrucks this year following the company's annual shareholder meeting yesterday. Roth Capital's Craig Irwin explains the road ahead for Tesla. Plus, Target will report earnings this morning after Home Depot posted its worst revenue miss in nearly 20 years. D.A. Davidson's Michael Baker discusses his expectations. And, a string of key housing data will...

Home Depot kicks off a busy week for retail earnings. BofA Securities’ Liz Suzuki breaks down her expectations for the report. Plus, President Biden meets face-to-face with House Speaker Kevin McCarthy today in order to craft a spending deal that would avoid a U.S. debt default. BTIG’s Isaac Boltansky discusses the latest. And, several company executives will testify before Congress today on the r...

President Biden, House Speaker McCarthy, and other Congressional leaders are planning to resume their face-to-face talks on a possible budget deal tomorrow. Beacon Policy Advisors' Stephen Myrow explains the latest. Plus, tech continues to outperform the broader market as investors pile into growth over value. Clockwise Capital's James Cakmak discusses the top stocks to watch. And, it's a busy wee...

The meeting between President Biden and Congressional leaders slated for today has been postponed until early next week. Stifel's Brian Gardner discusses the latest. Plus, Elon Musk says he's found someone to run Twitter and its parent company, X Corp. Vox's Sara Morrison breaks down the details. And, how are investors protecting their portfolios amid growing concerns of an economic downturn? Harr...

Disney shares are under pressure despite a stronger than expected earnings report. UBS' John Hodulik discusses what investors are focused on. Plus, Mastercard is out with a new report suggesting global travel will rebound this year. Mastercard's Bricklin Dwyer dives into the results. And, U.S. stock futures are higher following positive signs in the April CPI numbers. The Glenview Trust Company's...

The April CPI report will be released this morning, with economists expecting little or no change in the year-over-year headline number. Van Lanschot Kempen's Anneka Treon, Ritholtz Wealth Management's Josh Brown, and Citi Global Wealth Management's Steven Wieting explain the impact on the markets. Plus, top Congressional leaders are showing few signs that they have moved any closer to resolving t...

President Biden is set to hold a face-to-face meeting today with top congressional leaders to break the current debt limit deadlock. Strategas Research Partners’ Dan Clifton weighs in on the situation. Plus, the latest report from the Federal Reserve suggests the recent regional banking turmoil may lead to a greater economic downturn than expected. Piper Sandler’s Stephen Scouten discusses the imp...

The read on the regional banking sector continues ahead of new data on loans today. Synovus CEO Kevin Blair explains what his bank is experiencing. Plus, the chief executives of five EU tech companies are pushing back on a proposed set of new regulations from Brussels. Brainlab CEO Stefan Vilsmeier explains why he signed that letter of concern. And, a group of Senate Republicans say they will oppo...

The April jobs report is out this morning, with economists expecting employers to have added 180,000 net new jobs last month. University Hospital CEO Edward Jimenez explains what his hospital is seeing. Plus, the regional bank ETF is on pace for its worst week since early March when Silicon Valley Bank collapsed. RBC Capital Markets' Gerard Cassidy weighs in on the sector. And, Apple shares are hi...

The Federal Reserve approved its tenth straight interest rate hike in just over a year yesterday, marking the Fed's most aggressive tightening cycle since the 1980's. NatWest Markets' Michelle Girard gives her thoughts. Plus, Apple reports results for its fiscal second quarter today, rounding out earnings season for big tech. Laffer Tengler Investments' Nancy Tengler discusses what she's expecting...

The markets are all but certain the Fed will announce a 25-basis point rate hike at its meeting today, which would bring the benchmark rate to a 16-year high of 5.1%. Morgan Stanley's Seth Carpenter lays out his expectations. Plus, the regional banking sector closed at its lowest level since November 2020 yesterday. KBW's Christopher McGratty discusses the latest. And, it's not just regional banks...

The Fed kicks off its two-day policy meeting today, where a tenth interest rate increase is expected. Goldman Sachs Asset Management’s Ashish Shah breaks down his expectations. Plus, President Biden has reportedly called for an emergency meeting at the White House to discuss how to avert a U.S. debt default. Raymond James’ Ed Mills discusses the latest. And, Uber reports earnings this morning as t...