Squawk Pod

Markets are confused, at least according to some economists. The markets snapped 7 straight weeks of gains this week, as Wall Street interpreted the Federal Reserve’s pivot from hiking rates to cutting them. Chief economics correspondent at The Wall Street Journal Nick Timiraos penned a splashy op-ed pointing to confusion among investors and Fed governors. Elon Musk biographer and Tulane professor Walter Isaacson discusses the billionaire’s tendency to polarize his advertisers and consumers. Plus, Puck’s Matt Belloni discusses Warner Bros. Discovery’s early talks with Paramount Global for a potential merger, and Apple lost a bid to delay an import ban on certain Apple watches, but it’s reportedly gearing up to release its new mixed reality headset.  Matt Belloni - 6:48Nick Timiraos - 16:30Walter Isaacson - 29:03 In this episode:Nick Timiraos, @NickTimiraosWalter Isaacson, @WalterIsaacsonMatthew Belloni,@mattbelloniJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Former Fed Governor Kevin Warsh discusses the market rally and the Fed's next move. Donald Broughton explains FedEx's impact as a bellwether for the economy. The Colorado Supreme Court blocks Donald Trump's appearance on state ballots. Rite Aid shelves its facial recognition strategy. The hosts discuss the public opinion on billionaires, with Warren Buffett coming out on top.

The Houthis, a Yemeni rebel group backed by Iran, have amped up attacks on ships traveling through the Suez Canal since the beginning of the Israel-Hamas War. Director of Harvard’s Belfer Center Meghan O’Sullivan explains the disruptions to global shipping and the geopolitics at play in the Red Sea. The AI arms race is set to enter a new year, as 2023 winds down. CNBC’s Technology Correspondent Steve Kovach discusses Microsoft, Nvidia, and other winners so far, and Activate CEO Michael Wolf explains how smaller players measure up to the tech giants. Plus, Google will pay consumers $700m (~$2 a person) in its Play store settlement, Apple’s pressing pause on some of its watches, and Senator John Fetterman (D-Penn.) is hoping to block Nippon’s $14.9B acquisition of US Steel.  Meghan O’Sullivan - 12:30Steve Kovach - 20:23Michael Wolf - 20:23 In this episode:Michael Wolf, @mjwMeghan O’Sullivan, @OSullivanMeghanJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

As holiday travel ramps up, Southwest Airlines is landed with a $140 million fine for last holiday season’s travel meltdown. U.S. Transportation Secretary Pete Buttigieg emphasizes airline obligations to passengers, as well as the infrastructure needed to protect American consumers and travelers. Companies must now disclose cyberattacks in a timely manner, in compliance with new rules from the SEC. Former CEO of FireEye and current Mandiant CEO Kevin Mandia explains the implications of this new rule for shareholders and corporations. Plus, the world’s fourth largest steel producer, Japan’s Nippon Steel, is buying US Steel for $14.9 billion. CNBC’s Courtney Reagan reports on the strength of beauty this holiday season, as the total addressable market for the sector expands in age and gender identity. Courtney Reagan - 6:49Phil Lebeau - 13:10Pete Buttigieg - 20:03Kevin Mandia - 28:36 In this episode:Pete Buttigieg, @SecretaryPeteCourtney Reagan, @courtreaganPhil Lebeau, @LebeaucarnewsJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Senate will wait another week to go on holiday recess, after Senate Majority Leader Chuck Schumer delayed the break until lawmakers reach a deal on immigration and foreign aid. Senator Markwayne Mullin (R-Ok.) discusses the packages for Ukraine, Israel, and securing America’s own border. After a meeting in St. Vincent & the Grenadines, Venezuela President Maduro and Guyana President Arfaan Ali have not reached a resolution to their territorial dispute. Former international correspondent for CNBC Michelle Caruso-Cabrera explains Maduro’s strategy, the geopolitics of the region, and the impact of their conflicting claims to an oil-rich area. Celebrity chef and restaurateur Lidia Bastianich is celebrating 25 years since her cooking show launch, and she’s still cooking for America through her restaurants, cookbooks, and Eataly.She  joins the team for a look at consumer appetites this season, including their spending and eating habits. Plus, Citigroup is closing its municipal offering business.  Sen. Markwayne Mullin - 15:28Lidia Bastianich - 29:27 In this episode:Markwayne Mullin, @SenMullinAndrew Ross Sorkin, @andrewrsorkinBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Federal Reserve Chair Jay Powell surprised Wall Street with his announcement of a more dovish approach to inflation, moving forward. Powell signaled a 2024 of rate cuts from the central bank. OpenAI scored a deal with Politico and Business Insider parent Axel Springer, the company’s second deal with a news organization. Tulane Professor and Perella Weinberg Advisory Partner Walter Isaacson discusses AI’s role in newsrooms and the deals’ impacts on journalism. The Project Liberty founder Frank McCourt explains his idea for reclaiming our personal data online and keeping kids safe on the internet. Plus, Citigroup is offering early bonuses to departing employees.  Frank McCourt - 16:35Walter Isaacson - 25:51 In this episode:Walter Isaacson, @walterisaacsonMichael Santoli, @michaelsantoliAndrew Ross Sorkin, @andrewrsorkinBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Billionaire investor, Home Depot co-founder, and NYU Langone Health board chair Ken Langone discusses his latest market buys, his calls for pharma stocks, and his apprehension about investing in China. Former SEC Chair and University of Pennsylvania professor Jay Clayton joins Ken Langone in a discussion about leadership on American college campuses in the aftermath of controversial testimonies from university presidents on Capitol Hill. Plus, Netflix has released viewership numbers, Presidents Biden and Zelenskyy shared a hug in the Oval Office, Pfizer disappointed investors, and US Treasury Secretary Janet Yellen believes that we are on our way to a “soft landing.” Ken Langone - 14:00Jay Clayton - 25:42 In this episode:Andrew Ross Sorkin, @andrewrsorkinBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In a recent op-ed, Ariel Investments Co-CEOs Mellody Hobson and John Rogers predict investors’ best bets for 2024. Hobson and Rogers explain why, after a big year for tech’s ‘magnificent seven,’ it may be time to cash in on smaller stocks. Boomers are driving spending! Bank of America Institute has released new data on consumer spending in November; head of the Institute Liz Everett Krisberg discusses the highlights, including spending trends across Gen Z, millennials, Gen X, and boomers. Plus, Hasbro is cutting 20% of its workforce, teens are on YouTube and TikTok “almost constantly” and Epic Games has won its antitrust lawsuit against Google. Steve Kovach - 06:25Liz Everett Krisberg - 15:30Mellody Hobson & John Rogers - 24:23 In this episode:Andrew Ross Sorkin, @andrewrsorkinBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Occidental Petroleum will buy CrownRock for $12 billion, deepening its foothold in the Permian basin. Energy expert and author of “The New Map: Energy, Climate and the Clash of Nations” Daniel Yergin explains what the recent flurry of oil industry mergers means for geopolitics. The FDA has approved treatment for sickle cell disease, the first treatment to use the gene-editing tool CRISPR. Former FDA Commissioner Dr. Scott Gottlieb discusses a treatment’s journey from lab to patients, as well as improving the public’s access to life-saving care. Plus, Macy’s has a $5.8 billion buyout offer, and University of Pennsylvania’s President Elizabeth Magill has resigned after her controversial testimony on Capitol Hill last week. Daniel Yergin - 15:38Dr. Scott Gottlieb - 23:50 In this episode: Dan Yergin, @danielyerginScott Gottlieb, @ScottGottliebMDMichael Santoli, @michaelsantoliAndrew Ross Sorkin, @andrewrsorkinBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

After the presidents of Harvard, MIT, and the University of Pennsylvania testified on Capitol Hill this week, UPenn President Elizabeth Magill’s comments sparked backlash among the public and one of her colleagues. Concerns that university presidents are equivocating on the issue of condemning antisemitism on their campuses has prompted a nationwide debate over the role of academia and the business of higher education. President of Brandeis University Ron Liebowitz says, there’s no gray area in creating safe spaces to learn, at least for him. The November jobs report delivered some welcome economic news for the Federal Reserve, ahead of the central bank’s two-day meeting next week. Plus, CNBC’s Diana Olick is on the ground at COP28, the UN Climate Change Conference, and CNBC’s Robert Frank fact checks the great wealth migration: New York has not lost all its millionaires.  Ron Liebowitz - 14:02Diana Olick - 23:42Robert Frank - 27:43 In this episode:Ron Liebowitz, @BrandeisUDiana Olick @DianaOlickRobert Frank, @robtfrankAndrew Ross Sorkin, @andrewrsorkinBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.