CNBC's "Fast Money"

Steve Liesman, CNBC's Senior Economics Reporter, dives into the escalating feud between President Trump and Fed Chair Jerome Powell and its impact on the bond market. He discusses how political pressures are shaping interest rates and risks tied to monetary policy independence. The conversation also touches on the mixed earnings report from United Airlines and the implications for the airline industry. Steve shares insights on tech earnings expectations, especially with AI's influence, and the rising importance of cryptocurrency as a hedge against fiat devaluation.

Tim Seymour, a seasoned trader and market commentator, dives deep into Nvidia's pursuit of a license to sell H20 chips in China and its implications for AI investments. The conversation shifts to the anticipated earnings from major banks and the potential market reactions. Lastly, Seymour discusses Trump's threats against Fed Chair Powell and a Wall Street forecaster's warning about the inflation risks tied to such political pressures. It's a mix of market insight, economic analysis, and geopolitical concerns that keep listeners on their toes.

Bitcoin hits a staggering new high of over $123,000, sparking excitement in the crypto market and discussions on potential regulatory changes. U.S. lawmakers are gearing up to bolster institutional interest in cryptocurrencies. As earnings season begins, big banks like JP Morgan and Citi are in the spotlight, with analysts keenly watching for insights on loan growth and investment banking trends. Meanwhile, Meta's pivot to AI and Boeing's stock recovery are also making waves, showcasing the dynamic nature of today's financial landscape.

Megan Caselli, a CNBC correspondent, delves into the impact of President Trump's latest tariff escalations on the markets. She discusses how these tariffs are influencing inflation and corporate strategies, especially in the apparel and semiconductor sectors. The conversation shifts to Bitcoin's remarkable surge to new heights, alongside its long-term potential as a digital asset. The episode also highlights key earnings reports from major players like Levi's, showcasing strong growth amidst challenging market dynamics.

The tech landscape is shifting, with semiconductor stocks thriving while software struggles to keep pace. Can the software sector catch up? Meanwhile, Target is lagging behind Walmart in the retail race, raising questions about their contrasting trajectories. Delta Airlines reports positive earnings, despite some capacity cuts, and forecasts a bright 2025. The volatility of airline stocks is notable, while beauty brands like Estee Lauder are seeing a resurgence. The conversation even delves into the competitive rankings of U.S. states, highlighting North Carolina's strengths.

Reid Hoffman, Co-founder of LinkedIn and partner at Greylock Partners, discusses Nvidia's historic leap to a $4 trillion market cap, showcasing its role in boosting the tech sector. He delves into the implications of political tensions and changing market dynamics, particularly in relation to small caps and retail investors. The conversation shifts to Apple, where Hoffman evaluates the need for leadership change as the company navigates through evolving AI strategies and competitive challenges. Industry shifts, like the resurgence of cereal and Boeing's performance, add to an engaging analysis.

Chris McGrady, Head of U.S. Bank Research at KBW, discusses the shifting dynamics of the stock market as investors pivot towards small caps, healthcare, and airlines. He analyzes the recent decline in big banks and what this could mean for earnings season. The conversation also highlights CoreWeave's struggles post-acquisition, with concerns from analysts about stock valuation and upcoming IPO challenges. McGrady provides insights into the broader implications for the AI and semiconductor sectors amidst these market rotations.

Lorraine Hutchinson, a Bank of America analyst, sheds light on the repercussions of President Trump's 25% tariffs on imports from Japan and South Korea, especially for retailers sourcing from Vietnam. The conversation dives into how these tariffs are reshaping U.S. market dynamics and investor sentiment. Additionally, Hutchinson discusses the ongoing biotech surge since April, exploring whether this trend can maintain momentum amidst such market volatility. Tune in for compelling insights on trade relations and biotech stock performance!

Dan Iveson, Group CIO of PIMCO, manages an impressive $2 trillion, while Michael Mullen, former chairman of the Joint Chiefs of Staff, brings a military perspective. They dive deep into America's escalating national debt, exploring dire economic consequences if unaddressed. Topics include the alarming rise of budget deficits exceeding 6% of GDP, the impact on bond markets, and challenges to the U.S.'s global economic standing. The conversation also touches on the political divisions threatening democracy and the urgent need for fiscal reform.

Microsoft is scaling back its AI chip ambitions amidst significant layoffs, raising concerns about its future and market partnerships. Intel is revamping its foundry business under a new CEO, aiming to attract clients while facing intense competition. The semiconductor market is shifting, with major players like NVIDIA and Amazon influencing trends. Tesla grapples with delivery challenges and competition in China, while health insurers face difficulties due to rising medical costs. Investment strategies are discussed, emphasizing a long-term approach amid these market changes.