Squawk Pod

Walmart has issued a dire warning  to Wall Street, sending share prices of other retailers lower after cutting its profit outlook. Congress aims to move on  U.S. chip manufacturing legislation  this week. Senator Todd Young (R-IN) discusses moving the industry to the country’s heartland in the name of national security. Washington lawmakers are aiming to make it easier for consumers to use cryptoc...

The U.S. economy may see two consecutive quarters of GDP contraction, but the White House  isn’t ready to call it a recession . Whatever we call it though, today’s economic and political environment has pushed Americans to an unhappy place; host of ‘The Art of Happiness’ podcast Arthur Brooks says, both sides of the aisle are to blame. Brooks, also a Harvard professor and contributor for The Atlan...

President Biden has  tested positive for covid-19 , and the White House has shared his prognosis and treatment. Former FDA Commissioner Dr. Scott Gottlieb discusses the President’s health status, Paxlovid, and how pockets of unvaccinated communities could have prompted  America’s first case of polio in ten years . FedEx is delivering a big change for customers, and American Express has scored poin...

Consumers are  taking longer to pay their bills , says AT&T CEO John Stankey.  In an extended interview, Stankey discusses the pulse of the American consumer, as well as his company’s renewed focus on 5G and smart devices after the company spun-off its content business, WarnerMedia. In a surprise decision, the  European Central Bank has raised interest rates for the first time in over a decade; CN...

The Nord Stream 1 pipeline, the main route for Russian energy passage to the rest of Europe, is set to start functioning again on Thursday, but  EU leaders are concerned that the Kremlin won’t restart flows , especially after the majority state-owned energy giant Gazprom originally cut flows to 40% and is now suggesting that it cannot fulfill its energy contracts with the EU, even if the pipeline...

Johnson & Johnson beat analysts’ estimates on the strength of its pharmaceuticals unit despite  the company cutting its profit forecast due to a stronger dollar. CFO Joseph Wolk blamed the forecast cut on currency fluctuations, pointing to the parity between the euro and the dollar. As the job market starts to cool down and companies begin to look for ways to save with a possible recession on the...

In this episode: Amos Hochstein,  @amoshochstein Claire Atkinson,  @claireatki Matt Belloni,  @MattBelloni Joe Kernen,  @JoeSquawk Andrew Ross Sorkin,  @Andrewrsorkin Cameron Costa,  @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The U.S. Congress is set to go on August recess, but Intel CEO Pat Gelsinger has a tough message for them before they go:  pass the CHIPS Act , ASAP. America’s manufacturing industry has been waiting on government funding to produce tech’s all-important semiconductors for over a year, and Gelsinger says, it’s a matter of national security. We track the holdup in DC, the impact it’s having on  job...

In this episode:  Sara Fischer,  @sarafischer Frank Luntz,  @FrankLuntz Dom Chu,  @TheDomino Joe Kernen, @JoeSquawk Andrew Ross Sorkin,  @Andrewrsorkin Katie Kramer,  @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Inflation jumped 9.1% to  a new 40-year high in June . CNBC’s Steve Liesman, Rick Santelli, and Mike Santoli unpack what today’s Consumer Price Index data means for the Federal Reserve and for consumer wallets. As a crypto winter puts serious pressure on the industry, some crypto lenders are collapsing.  BlockFi found a lifeboat in crypto exchange FTX ; in a CNBC-exclusive interview, BlockFi CEO Z...

It’s YOLO summer! Travelers are on the move, but airline and airport shortages are causing speedbumps. London’s Heathrow Airport is managing a staffing shortage by  capping the number of passengers traveling per day and requesting that airlines stop selling tickets. Still, with so many people on the move, retail watcher Jan Kniffen wonders how many consumers will be around to take advantage of  re...

Elon Musk is over Twitter. He’s aiming to terminate the $44 billion dollar deal, and Twitter’s ready to take him to court over it, but Musk is seemingly unbothered by the drama. Former SEC Chair Jay Clayton maps out the various outcomes at this stage in Twitter-Musk saga. Covid cases are ticking up as we head into the end of the summer, and while most of us have readjusted our individual risk calc...

Some recession we’re having, huh? A surprisingly positive  jobs report for the month of June may defy fears of a looming economic slowdown.  Payrolls increased by 372,000 jobs, above expectations.  CNBC’s Steve Liesman and SoFi Head of Investment Strategy Liz Young discuss the robust labor market with Joe Kernen and Melissa Lee.  Elon Musk and Twitter are still dancing around a possible deal; The...

UK Prime Minister  Boris Johnson is resigning , following a torrent of resignations from ministers in his government in the past 24 hours. CNBC Europe’s Steve Sedgwick reports on the scandals that have caught up with Johnson and the quick sea changes of UK conservative politics. As Wall Street parses through the market’s recession signals and portfolio managers brace for a deeper downturn, the lux...

A bevy of market signals have alarmed investors: oil prices slipping, a surprise Nasdaq rally, a  yield curve inversion . As inflation remains elevated and recession fears loom over the markets, the Federal Reserve and the Biden administration balance their respective toolsets to mitigate pressure on the American economy. Austan Goolsbee, former CEA chairman and Booth School of Business professor,...

Meta is down 52% in 2022, and Mark Zuckerberg is bracing his shareholders for more tougher times ahead. He’s shuttering the company’s digital wallet project and announced a slash to engineer hiring; Cleo Capital’s Sarah Kunst says Zuckerberg’s revamped approach to employees could be what investors need. Plus, President Biden might be rolling back Trump-era China tariffs, Germany’s economic data ha...

Meta is down 52% in 2022, and Mark Zuckerberg is bracing his shareholders for more tougher times ahead. He’s shuttering the company’s digital wallet project and announced a slash to engineer hiring; Cleo Capital’s Sarah Kunst says Zuckerberg’s revamped approach to employees could be what investors need. Plus, President Biden might be rolling back Trump-era China tariffs, Germany’s economic data ha...

Flight cancellations continue to distrust travelers, and Dennis Tajer, spokesman for the Allied Pilots Association and pilot for American Airlines, is blaming airline management. He claims pilots are  being pushed to the edge . In the markets’ roughest first half of the year since the 1970s, Netflix was the  worst performing stock . It may have come down to their lackluster content, says Rich Gree...

Americans are feeling the pain caused by inflation, but New Jersey is hoping to help its residents with an historically large budget plan. Governor Phil Murphy (D-NJ) discusses how Jersey’s  rebate will alleviate some of the pain, from property taxes to back-to-school supplies. The markets are set to close on the worst first half in more than 50 years. The Dow and S&P 500 are on track for their wo...

Americans are gearing up to  travel this Fourth of July weekend despite higher fuel and food costs this year. Amid record-high inflation, president and CEO of Best Western Hotels and Resorts  Larry Cuculic says summer travel is surging in cities like Seattle, New York, and San Francisco. Stewart Butterfield, CEO of Slack, joins Andrew from the Aspen Ideas Festival to discuss what impact a recessio...

As investors come to terms with a recession and the tech markets weather a downturn, we turn to legendary tech voices Cathie Wood and Eric Schmidt for guidance. Cathie Wood, founder of Ark Invest and a famous innovation bull, shares lessons from last year’s profits and losses. She maps out the biggest problems facing companies today, including inflation and supply chain issues. Eric Schmidt, forme...

We’re kicking off the week with a super-sized Squawk Pod!  Three big interviews that all start with the key question Wall Street is asking: how bad is the impact of 2022’s high energy prices? Becky Quick and Brian Sullivan weigh the influence higher gas prices have on the stock market, and G7 leaders  convene in Germany to discuss additional Ukraine support and new sanctions that include a proposa...

Fresh reporting from Becky Quick on what happened inside the room with leading executives from the U.S. oil industry and Energy Secretary Jennifer Granholm.  Inflation continues to run hot. Federal Reserve Chairman Jerome Powell says that the Fed is  committed to fighting inflation “unconditionally” in a testimony to the House Financial Services Committee. Member of the committee, and Problem Solv...

Big Oil executives head to Washington today for a meeting with the Biden Administration to go over a diminishing list of options to contend with the rising price of gas.  President Biden announced plans to enact a “ gas tax holiday ” in the U.S. this summer, and has not received broad initial support. Amos Hochstein, State Department Special Envoy and Coordinator for International Energy Affairs,...

A nationwide pilot shortage is prompting thousands of delays and cancellations for summer travelers. Dennis Tajer, American Airlines pilot and spokesperson for the Allied Pilots Association, says the staffing issues are due to management’s lack of foresight, and he warns that airlines may start to cut corners to keep up with demand. CNBC’s autos and airlines reporter Phil Lebeau considers how long...