The Exchange

Stocks are selling off to start the week amid growing concerns of a recession. We have team coverage tracking the Fed’s path forward, the plunge in treasury yields, and the drop in mortgage rates. Plus, WaFd CEO weighs in on the strength of the consumer and state of loan demand. And mega-cap tech stocks are erasing trillions of dollars’ worth of market cap. We’ll put the sell-off in perspective.

Sahm, the economist behind the Sahm Rule, breaks down July's disappointing jobs report and its implications for a looming recession. She shares insights on how these troubling indicators could influence Federal Reserve policies. Pat Gelsinger, CEO of Intel, reveals the company's struggle amidst its worst performance in half a century. The discussion highlights Intel’s strategic adjustments and operational challenges, all set against a backdrop of tech sector turbulence as firms navigate tightening market conditions.

Evan Gershkovich, a U.S. journalist recently involved in a notable prisoner swap, shares insights on a landmark exchange between the U.S. and Russia, the biggest since the Cold War. He discusses the emotional repercussions for families and the broader geopolitical consequences as the election approaches. Additionally, the conversation covers weak economic data impacting financial markets, with a focus on fluctuating tech stocks and their implications for investors navigating a volatile landscape.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.

We’re counting down to tomorrow’s Fed decision, where Powell is widely expected to signal that the first rate cut will come in September, but our market guest says investors are too focused on that, and not enough on what he sees as the biggest risk right now. Plus, the busiest week of tech earnings continues with Microsoft reporting after the bell. We’ll look at how to position ahead of the print and whether the broader pullback in tech is over. And Wall Street is waiting for Vice President Harris to pick her running mate. We’ll show you the shortlist, and what it means for the fundraising race.

It’s the busiest week of earnings season, combined with a ton of macro data and Wednesday’s Fed decision on interest rates. We’ll look at how to position for this massive market-moving week. Plus, Vanguard has a new CEO and it’s the first-ever outsider to helm the company. Bob Pisani sits down with him four weeks into the job. And we’ll bring you the action, the story, and the trade on Procter & Gamble, JetBlue, and Pfizer.

The longer the Fed waits to cut, the more they risk that something breaks, according to Moody’s chief economist Mark Zandi. He’ll join us to make his case, in light of today’s PCE inflation data. Plus, Digital Realty’s CEO joins Kelly on the heels of their quarterly results with what’s driving demand for data centers. And weakness in China is one of this earnings season’s big themes, but our market guest says that presents a buying opportunity for investors.

Was yesterday’s selloff a healthy correction or reason for concern? We speak with one guest who says the rally is intact, but it will be hard to make new highs until one thing happens. Plus, tech investor Gene Munster says the pullback in tech presents a great buying opportunity. He tells us what he’s watching. And three more names are on deck to report earnings, including this name our trader calls a “have” in a sector of haves and have-nots. We break it down in Earnings Exchange. 

A discussion on the market trends, with tech stocks like Tesla and Google experiencing declines. Bold predictions are made for Bitcoin's future price, while new home sales hit the lowest level. Insights are shared on Bitcoin as a reserve asset, crypto reports, and the impact on builder stocks.

We're in an early bull market, but one of our guests says it's the most unloved bull market she's seen in her career and that presents a lot of opportunity. She’s also a Tesla shareholder and says it's a stock you buy in times of chaos. With earnings on deck, is this one of those times? And is a credit card backed by your home equity line of credit a great innovation or risky business? We have the details ahead.