Squawk on the Street SOTS 2nd Hour: Alphabet Earnings Concerns, A Read on Regionals, LIVE: Oklo & Liberty Energy CEOs 7/23/25
Jul 23, 2025
Chris Gorman, CEO of KeyCorp and regional banking expert, shares insights on consumer behavior and the evolving economic landscape. He notes that tariffs may have a less negative impact than anticipated and could even spur market growth in the second half of the year. Gorman also discusses the fascinating dynamics of regional banks amidst current trends. Additionally, CEOs from Oklo and Liberty Energy dive into the rising energy demand linked to advances in AI and the future of regulation, highlighting a promising partnership in sustainable energy.
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Alphabet's Valuation Nuances
- Michael Nicolis highlights that Alphabet's value is affected by the rise of AI like ChatGPT but other business segments contribute significantly to its worth.
- He believes market valuations already reflect risks, maintaining that Alphabet remains fundamentally strong.
Consumer Strength & Optimism
- KeyCorp CEO Chris Gorman notes that consumers remain financially strong, buoyed by a massive wealth effect that models often overlook.
- He finds a cautiously optimistic commercial sector with about half of top clients expecting a favorable business environment.
Banks Should Expect Accelerating Fees
- Banks should expect fee growth to accelerate supported by a more favorable regulatory environment.
- Faster merger approvals are likely to help the industry expand its fee-based revenue streams.