Squawk Pod

Senator James Lankford, a Republican from Oklahoma and vice chair of the Senate Republican Conference, dives into the contentious government shutdown and proposes automatic continuing resolutions to prevent future stalemates. House Minority Leader Hakeem Jeffries offers the Democratic perspective, emphasizing the need to extend Affordable Care Act tax credits to support working Americans. They both highlight health care policies, the implications of recent CPI data, and trade tensions with Canada, showcasing the stark divide between their approaches to resolving national issues.

The U.S. government shutdown stretches into its 24th day, leaving many federal workers without pay. Intel bounces back with impressive profits and a strong stock surge. Ford faces challenges as it cuts guidance after a supplier fire impacts production. Meanwhile, Deckers reports a mixed earnings performance amid growing consumer caution. Additionally, Applied Materials announces a significant job cut, affecting 1,400 workers. Tune in for insights and analysis on these market-moving stories.

In this discussion, Curtis Sliwa, founder of the Guardian Angels and contender for NYC mayor, passionately defends his campaign amidst calls to step aside for Andrew Cuomo. He critiques NYC's high taxes and spending, linking crime to these issues. Meanwhile, Rep. Ro Khanna shares insights on the ongoing government shutdown, advocating for bipartisan solutions and discussing healthcare reforms to rein in costs. Khanna also addresses the challenges of balancing rent controls with the need for increased housing supply in California.

Brian Chesky, Co-founder and CEO of Airbnb, shares exciting updates about new features aimed at enhancing user experiences and making travel more social. He dives into the innovative use of AI for customer service, highlighting how it handles complex issues transparently. Chesky also discusses the evolving travel trends, including longer trips and the demand for local experiences. Meanwhile, Tarek Mansour, CEO of Kalshi, reveals insights on the NHL's groundbreaking partnership with prediction markets and the implications for the sports betting landscape.

Walmart is hitting pause on hiring candidates needing H-1B visas, shaking up the job market. Barclays surprises with a raised guidance and a share buyback announcement. Western Alliance Bancorp impresses by beating estimates, despite facing some tough challenges. LVMH is considering selling its stake in Rihanna's Fenty makeup brand, stirring interest in the beauty sector. Meanwhile, Microsoft CEO Satya Nadella's annual pay skyrockets to $96.5 million, raising eyebrows on executive compensation.

David Solomon, CEO of Goldman Sachs, shares insights on the firm's growth strategy and AI's role in enhancing productivity. He raises concerns about the private credit market and emphasizes the importance of transparency in private asset valuations. Meanwhile, Bill Ackman, founder of Pershing Square, passionately discusses the New York City mayoral race, warning of the implications of candidate Zohran Mamdani's policies on affordability and public safety. Ackman rallies New Yorkers to vote, highlighting the stakes for the city's future.

Sean Duffy, the U.S. Transportation Secretary and acting NASA Administrator, talks about the effects of the government shutdown on airport staffing and updates on NASA's Artemis missions. Investor Anthony Scaramucci shares insights on Bitcoin's recent rally, its potential to rival gold, and the evolving landscape of cryptocurrency portfolios. They also touch on the challenges faced by major websites due to an AWS outage and discuss a dramatic jewel heist at the Louvre.

An overnight outage at Amazon Web Services caused major disruptions for popular sites like Disney+ and Coinbase. Apple's new iPhones flew off the shelves, showing a 14% increase in early sales compared to previous models. Meanwhile, tensions rise as China accuses the U.S. of a hacking campaign targeting its national time center. Tesla faces backlash as proxy advisory ISS recommends shareholders vote against Elon Musk's ambitious pay plan. Drama unfolds as Tesla responds to the criticism, with Musk taking to social media to voice his thoughts.

Rick Wurster, President and CEO of Charles Schwab, shares insights on the firm’s record quarter and the changing landscape of retail investing. He highlights the rising interest from Gen Z investors and the importance of educational resources in attracting new clients. Wurster also discusses concerns about market concentration and advocates for diversification. The conversation shifts to Schwab's innovative offerings, including crypto ETFs and private alternatives, while he reassures that there are no signs of a systemic credit issue.

Financial markets are on shaky ground as concerns grow over U.S. regional banks and bad loans. In political news, President Trump and Vladimir Putin are set to meet in Budapest to discuss the conflict in Ukraine. Meanwhile, former National Security Advisor John Bolton faces indictment for mishandling classified documents. On a lighter note, the Trump administration claims a deal that could lower beef prices has been reached.