Musk’s Stock Sales; Pfizer’s Covid Pill; Slack and the Newest Normal

The legendary buy-and-hold investor says there has never been a better time to buy stocks and invest in the U.S. markets.  In an extended interview, the Baron Capital Chairman and CEO said he’s been picking up bargains since the market rebounded from a June low point.  Baron correctly called the comeback in stocks and now he is sharing what he’s been buying:  growth companies that hedge against inflation.  Plus, the Biden administration’s plan for student loan forgiveness brings back discussions of moral hazard that Joe Kernen, Becky Quick and Andrew Ross Sorkin have been having since the Great Financial Crisis.  And, delays at the multiplex - Warner Bros reshuffles movie release dates Joe’s assigned reading to listeners: Nobody Knows How Interest Rates Affect InflationStudent Loan Forgiveness: Check if you Qualify In this episode: Becky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie 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.

25 Aug 202237min

President Biden’s student loan forgiveness plan has alarmed investors who worry that the policy will be inflationary for our economy. Senator Patrick Leahy (D-VT), the Senate’s longest-serving lawmaker and the body’s president pro tempore, explains how the forgiveness will work, and what the limitations will be. As he reflects on his retirement and on the future of the United States, airing his concerns about our trajectory as a nation. As markets continue their volatile summer, Joe, Becky, and Andrew are reunited to break down the latest moves and market jitters ahead of this week’s Fed meeting. Twitter has a leak, and the whistleblower’s allegations might just help Elon Musk. Plus, Becky and Joe share their family pet affections with Petco CEO Ron Coughlin, who insists, despite the “WOOF” stock ticker, his team doesn’t play favorites.  In this episode:Ron Coughlin, @RCoughlinPetcoBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie 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.

24 Aug 202236min

Markets suffered the worst day since June as investor confidence wavers ahead of the Federal Reserve’s annual meeting in Jackson Hole. Joe Kernen and Andrew Ross Sorkin break down the rough trading day and Wall Street’s expectations for the rest of this week; Morgan Stanley’s Chief Investment Officer Mike Wilson offers some perspective on the likelihood of a full-blown recession, as well as earnings reports for the rest of 2022. In China, the central bank has cut rates again as the country’s persistent Covid lockdowns take a toll on its economy. International policy analyst Dewardric McNeal discusses the balance between public health and economic growth. Also in China, the CCP is facing a political reshuffle as its 20th national congress approaches; CNBC’s Eunice Yoon offers some insight on how domestic politics are affecting international influences–like ‘Minions’--in China. Plus, Elon Musk is asking former Twitter CEO Jack Dorsey for help in getting out of buying the platform, and “House of the Dragon” has given HBO its biggest premiere ever.  In this episode:Eunice Yoon, @onlyyoontvJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie 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.

23 Aug 202233min

In the latest chapter of meme stock mania, AMC’s shares are tanking, and the company is getting creative to raise capital. As Americans await a potential decision on the Biden administration’s student loan forgiveness, CNBC’s Sharon Epperson reports that many fear the policy could worsen inflation. Cryptocurrencies may be as volatile as ever, but investor and bull Anthony Scaramucci considers Larry Fink’s and BlackRock’s change of heart on the asset to be a good sign for the entire industry. Plus, HBO has a lot riding on its new series, “House of the Dragon,” Julia Boorstin reports.  In this episode:Anthony Scaramucci, @ScaramucciSharon Epperson, @Sharon_EppersonJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie 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.

22 Aug 202230min

The NYC MTA is low on ridership and on revenue, but Chair and CEO Janno Lieber says he has a plan to boost both and restore trust in the safety of public transit. The Big Ten has sealed its 7 year, $7 billion TV deal, marking the biggest annual deal for any college sports league. Sports business executive George Pyne unpacks the giant payout and what it means for the league’s student players. Plus, the Bed Bath & Beyond carnage keeps coming for the company and its traders, and Starbucks has begun its restructuring.  In this episode:Janno Lieber, @MTAGeorge Pyne, @GFPyneMelissa Lee: @MelissaLeeCNBCAndrew Ross Sorkin, @andrewrsorkinKatie 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.

19 Aug 202230min

After internally reviewing its own response to the covid-19 pandemic, the CDC has concluded, there’s room for the agency to improve. Director Rochelle Walensky has announced her plan to restructure the CDC, and in so doing to improve future responses and to rebuild public trust in the organization. Dr. Scott Gottlieb examines the road ahead for the CDC and Washington’s role in improving it. While Wall Street and Twitter still reel from the latest Elon Musk antics, biographer and Tulane professor Walter Isaacson details the little-seen side of the quirky billionaire; as he writes Musk’s biography, Isaacson reveals that there’s much more to Tesla’s CEO than his tweets. Plus, we’re decrypting the Federal Reserve’s July minutes and unpacking the roller coaster trades for Bed Bath & Beyond and other meme stocks this week. In this episode:Walter Isaacson, @WalterIsaacsonDr. Scott Gottlieb, @ScottGottliebMDBecky Quick @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie 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.

18 Aug 202231min

Bed Bath & Beyond, AMC, and Gamestop are all swept up in a revival of meme stock trading; tastytrade founder and Co-CEO Tom Sosnoff discusses the recent meme stock surges. After President Biden signed the Inflation Reduction Act into law, Director of the White House National Economic Council Brian Deese shares the intended impact of the legislation for Americans’ health care costs and greener living. Also in politics, Liz Cheney is considering her next move in her mission to support disillusioned Republicans. Plus, childcare workers including educators have either switched jobs or left their professions permanently. USAFacts President Poppy MacDonald unpacks the data that explains why teachers are quitting at a higher rate than other workers.  In this episode:Tom Sosnoff, @tastytradePoppy MacDonald, @PoppyMacDBrian Deese, @BrianDeeseNECBecky Quick @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie 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.

17 Aug 202232min

:  Walmart reported better than expected earnings this quarter, but its profits are still under pressure. CNBC’s Courtney Reagan and Refinitiv’s Jharonne Martis examine the report and what it reveals about inflation and today’s consumers. The U.S. education system is short hundreds of thousands of teachers and support staff, according to estimates. President of Purdue University Mitch Daniels discusses why, after teaching through a global pandemic, many educators have left the profession, and fewer are signing up. Easing gas prices at the pump might be offset by high home energy prices this winter; in the EU, some are paying up to 500% more to heat their homes. Plus, Apple is bringing its employees back to the office, and Wall Street Billionaires like Warren Buffett, David Tepper, and Dan Loeb are making big portfolio swaps.  In this episode:Jharonne Martis, @JharonneMartisMitch Daniels, @purduemitchCourtney Reagan, @CourtReaganBecky Quick @BeckyQuickBrian Sullivan, @SullyCNBCKatie 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.

16 Aug 202232min