Squawk Pod

Darren Woods, Chairman and CEO of ExxonMobil, reveals insights into Exxon's strong quarterly results and cost-cutting strategies amidst global oil geopolitics. Meanwhile, Rob Simmelkjaer, CEO of New York Road Runners, provides a vibrant preview of the NYC Marathon, highlighting its $1B economic impact and the growing popularity of running post-pandemic. Mike Pollack, President of Jack-o'-lanterns.com, discusses large-scale Halloween events and pumpkin carving trends, setting a festive tone for the weekend.

President Trump pushes for changes to the filibuster rules to end the government shutdown. Major airlines are pleading with Congress for help as air traffic controller shortages lead to widespread flight delays. Amidst this turmoil, shares of Reddit are on the rise, and Coinbase sees a boost in trading activity. The conversation dives deep into the impacts of political maneuvers on the economy and travel.

Steve Leisman, a Senior economics reporter, dissects the implications of the recent Fed rate cuts and how they influence market trends. Nick Burns, a former U.S. Ambassador to China, analyzes the Trump-Xi meeting, clarifying that it resulted in an uneasy truce rather than a trade deal, with national security concerns front and center. Arthur Brooks, a Harvard professor, shares insights on declining national happiness, practical steps to enhance well-being, and warns against relying too much on technology for fulfillment.

Gary Cohn, former Director of the National Economic Council and current IBM vice chairman, dives into the economic strain from the ongoing government shutdown and discusses how AI is reshaping the labor market. He highlights the contrast between robust stock markets and challenges for furloughed workers. CNBC's Robert Frank reports on billionaire spending in the NYC mayoral race, revealing the influence of wealthy donors on political campaigns. Together, they examine the implications of high taxes and the evolving role of AI in the economy.

The Federal Reserve is poised to cut interest rates, which could shake up the markets. In international news, Israeli airstrikes in Gaza are raising tensions after a recent Hamas attack. Meanwhile, many air traffic controllers are juggling second jobs due to the ongoing government shutdown. On a brighter note, SK Hynix reports record earnings fueled by demand for AI technology. Lastly, Hurricane Melissa wreaks havoc as a powerful storm strikes Jamaica and Cuba.

In this insightful conversation, Bill Gates, co-founder of Microsoft and a leading advocate for global health and climate initiatives, shares his unexpected views on climate change. He emphasizes the importance of trade-offs in resource allocation, arguing that climate issues shouldn't overshadow pressing human welfare needs. Gates discusses the challenges posed by declining aid budgets and critiques the 1.5°C warming target as unrealistic. He also delves into the implications of AI technology, highlighting its transformative potential while warning against possible misallocation of investments.

Robyn Denholm, Chair of Tesla's board, breaks down Elon Musk's proposed compensation plan, emphasizing its performance-based nature tied to strict milestones. She argues that Musk’s leadership is crucial for Tesla's value and innovation, especially with upcoming projects like Optimus and robo-taxis. Denholm addresses shareholder concerns about governance and influence, and the path toward unsupervised self-driving technology. Plus, she highlights the importance of voting on these pivotal proposals as Tesla navigates its ambitious future.

Expectations are high for a Trump-Xi deal to avoid hefty tariffs on Chinese goods. ByteDance is nearing a divestiture of TikTok's U.S. operations, potentially ensuring the app's future. Meanwhile, China's industrial profits have surged, thanks to government policies that fight price wars. In labor news, Boeing defense workers in St. Louis are striking after rejecting a contract proposal. And, in urgent weather updates, Hurricane Melissa has escalated to a Category 5 storm with dangerous winds.

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.