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The Exchange

Author: CNBC

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"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.
1262 Episodes
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.
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.   
Kelly explains what Helen of Troy’s weak earnings reports means for the state of the broader economy.
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.
Kelly explains what the negative June CPI number means for the Fed’s next move.
Are we at an inflection point for the consumer? They’re choosing more carefully where to spend, which is not at Helen of Troy, as we learned yesterday. That company lost nearly 30% of its market value following earnings. Consumers are pushing back on big brands and high prices, which is leading them to Walmart, whose record highs might even suggest more weakness. This comes as Jay Powell today said going slower may allow the Fed to go farther, but according to our strategist, the Fed has to cut this year to keep the consumer, and small companies afloat. He’s here with where he’s trimming and what he’s adding to against this backdrop. But the consumer is still traveling, and Wyndham Hotels & Resorts is betting on that to continue, and betting on guests to stay longer. The CEO joins us like ahead with what he’s seeing. And then there’s housing. If you’re not buying a home because it’s too expensive right now, you can still buy into the housing trade, and we have a unique way to do it. 
Fed Chair Jay Powell is warning of the risks of staying too high for too long, but our market guest is warning of a different risk, one he says Wall Street has its head in the sand on.He’s here to tell us what it is and how he’s positioning as a result. Plus, analysts are loving this recent IPO, with eight of them initiating coverage on the stock today. The one with the highest price target is here to make his case for a 60% upside from here. And if you think of top media and entertainment stocks, this one may not be top of mind, but it should be says Morgan Stanley’s Ben Swinburne. He’s here with the name, what makes it superior to the competition, and how much runway he sees ahead.
Kelly connects the dots between France’s elections and the 2024 presidential election.
Wall Street’s #1 semiconductors analyst joins us with the power players he sees dominating the industry going forward. Plus, it’s a big week for the markets with Powell’s testimony and inflation data on deck. We’ll check in with Raymond James’ CIO about why he says the rally is nowhere near the top. And between France, the U.K., and the U.S., there’s plenty of uncertainty for the market to digest. We’ll ask Atlantic Council CEO Fred Kempe how he sees things playing out this year.
Kelly explains why AI is really driving the economy right now.
The June jobs report paints a muddy picture, but does it mean the Fed is finally ready to cut? We’ll discuss. And the U.K. has a new leader, with the Labour party winning the election in a landslide. We’ll look at the ramifications for business. And the CEO of Barnes & Noble joins us with how they’re keeping up with the latest trends, including e-readers and “BookTok”.
The Exchange 7/2/24

The Exchange 7/2/24


Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.
Stocks are mixed on the first trading day of the second half. The major averages have posted a monthly gain in July every year for the past decade. And our strategist just hiked his year-end S&P target to, 5,700 today. He’ll tell us where he’s putting money to work. And today’s manufacturing data showing a jobs divide. S&P Global reporting the fastest increase in employment in nearly two years. While ISM saw a drop in its index. With Goldman Sachs noting potential for slight upside risk to the unemployment rate ahead of Friday’s report, is the Fed’s focus about to shift away from inflation and to jobs? We’ll discuss. Plus, the Supreme Court handing down a decision in former President Trump’s election interference case stemming from January 6th, ruling a president has immunity for all “official” acts, but there’s no immunity for “unofficial” acts. Markets taking it as a positive for his election odds, with the yield curve steepening. We’ll dig into it.  
We’ll break down a seismic decision by the nation’s top court, impacting everything the government does. Plus, the latest inflation report came in as expected, but what does it mean for the markets and the Fed. We’ve got a power-packed panel to look at how to position. And Nike is having its worst day ever after weak results and guidance. We’ll ask our analyst what it’ll take to right the ship.
Wall Street’s #1 retail analyst, JPMorgan’s Matt Boss, is here to talk all things retail, including why value and convenience will be what ultimately separates the winners from the losers. Plus, Nvidia is lower again, but our market guest says to ignore the short-term volatility. And the first presidential debate of the year is on deck. We’ll arm you with the stats on the candidates and the polity talk that matters to investors.
Nvidia is down, once again, with the company’s annual shareholder meeting wrapping up right now. We’ll bring you the latest as another big chip name gears up to report results. Plus, speaking of tech, it’s one sector our market guest isn’t buying for two reasons – and one of them is pretty contrarian. He’ll tell us what they are, and what he’s buying instead, including one opportunity he hasn’t seen this cheap for this long since the great recession. And the last time the Howard Hughes CEO was on this show, he told us this year would be a golden age for homebuilding. That’s not showing up in the stock though. It’s down 25% year to date. And today we got another disappointing data point on housing. He’s back with an update on what he’s seeing on the ground. 
Nvidia bouncing back after three down days, but our market guest says it doesn’t matter where it goes from here, the market is moving higher regardless. Plus, there’s a niche asset class that had record returns last year, but it doesn’t come without risk. We’ll tell you what it is, and whether it’s worth considering for retail investors. And, as temperatures get hotter across the country, we look at one surprising beneficiary of the heat wave. 
Tech is today’s biggest laggard with chip stocks leading the declines. We’ll look at whether the “tech tide” is turning and where to put your money to work. Plus, we’ll get the retail names that Morgan Stanley says will benefit the most from broader AI adoption. And Bank of America is highlighting a buyer’s strike on salty snacks. The analyst behind that call joins us with the companies losing share and the names that will benefit the most.
Nvidia moving lower once again and our options trader says red flags have been popping up in the entire tech trade. Plus, Kyle Bass joins us to weigh in on current market leadership and where he’s seeing opportunities right now. And real estate power broker Ryan Serhant is in-studio ahead of the launch of his new Netflix show, “Owning Manhattan,” with the trends he’s seeing in the NYC luxury real estate market.
The risks for the economy are rising, and something could break if the Fed doesn’t act soon, according to Moody’s economist Mark Zandi. Plus, Nvidia may be the new market cap king, but it’s also become the subject of increased attention from short sellers. And AI has become a Wall Street darling, but how is Main Street adapting? We have exclusive data from CNBC’s Tech Executive Council.
Comments (1)


Exchange is much worse than NBR. Wish the change never happen.

Jan 9th