5 Things to Know Before the Opening Bell 10/20/2025

In an extended interview, Treasury Secretary Scott Bessent discusses the Trump administration’s tariffs, including the timeline of his trip to Kiev and President Zelenskyy’s trip to Washington, DC. Secretary Bessent considers the strength of the U.S. dollar, President Trump’s executive order establishing a strategic bitcoin reserve, and what he calls the market’s “detox” from excessive government spending. Plus, CNBC’s MacKenzie Sigalos explains bitcoin’s reaction to the strategic reserve and the likelihood of foreign governments following suit.  MacKenzie Sigalos - 08:33Scott Bessent - 16:45 In this episode:Becky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

7 Mar 57min

As the United States and Canada spar over tariffs, Karina Gould, a candidate for Canadian Prime Minister and former Canadian government House leader, explains Canada’s retaliation against the Trump administration’s tariffs and the Canadian frustration at the current relationship between neighbors. Then, pollster and political strategist Frank Luntz provides insights into swing voters 6 weeks into President Trump’s second term. Luntz discusses the public’s opinion on Elon Musk's influence in Washington and the economic messaging from the White House. Plus, some Senate Republicans push to codify DOGE cuts after meeting with Elon Musk, and automakers have one month’s reprieve from tariffs on autos coming into the U.S. from Mexico and Canada.  Karina Gould - 14:02Frank Luntz - 25:44 In this episode:Frank Luntz, @frankluntzJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

6 Mar 35min

Wednesday marks day two of President Trump’s 25% levies on Mexico and Canada. In his joint address to Congress, the President warned about “a little disturbance” as American industries and neighbors digest his administration’s tariffs. CNBC’s Eamon Javers reports on the rest of the news out of Tuesday’s address, and Phil LeBeau reports that the administration may consider a delay on tariffs for autos. Former US Ambassador to Canada Bruce Heyman explains the toll tariffs may take on the longstanding relationship between neighbors, including social and economic ties. The friction between the U.S. and Canada extends to the ice; National Hockey League Commissioner Gary Bettman discusses the cross border relationships in sport and in finance.  Eamon Javers - 9:48Bruce Heyman - 19:32Gary Bettman - 29:12Phil LeBeau - 37:12 In this episode:Phil LeBeau, @LebeaucarnewsEamon Javers, @EamonJaversRobert Frank, @robtfrankMichael Santoli, @michaelsantoliBecky 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.

5 Mar 38min

President Trump’s tariffs on Mexico and Canada take effect today. Target CEO Brian Cornell sits down with Becky Quick to discuss the impact they’ll have on his business and on price tags for consumers; Cornell warns, costs at checkout will likely go up, and soon. While U.S. stocks and investors waver on the new trade rules, U.S. Commerce Secretary Howard Lutnick explains the long term vision for “fair” trade, as well as the price the Trump administration is willing to pay to curb fentanyl’s flow into the country and bring more manufacturing stateside. Plus, President Trump has paused all U.S. military aid to Ukraine.  Brian Cornell - 14:50Howard Lutnick - 31:48 In this episode:Becky 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.

4 Mar 42min

The markets ended February on a low note as investors digest global and domestic uncertainty and prepare for tariffs set to take effect on Tuesday. Cryptocurrency, however, has rallied on President Trump’s announcement of a strategic crypto reserve. In the aftermath of the heated discussion between President Trump and Ukrainian President Zelenskyy, author, editor, and international affairs professor Nina Khrushcheva examines the U.S. agenda and next steps for Russian President Putin. Hayman Capital Management founder Kyle Bass considers Ukraine’s geopolitical position and the shift in war sentiment among conservatives in the United States. Plus, Anora took home 5 awards from Sunday’s Oscars. Puck founding partner Matt Belloni discusses the other winners, the surprises, and the streaming factor in this year’s Academy Awards.  Megan Cassella - 07:23Nina Khrushcheva - 12:57Kyle Bass - 21:11Matt Belloni - 31:45 In this episode:Matt Belloni, @MattBelloniKyle Bass, @JkylebassMegan Cassella, @mmcassellaMelissa Lee, @MelissaLeeCNBCJoe 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.

3 Mar 37min

Uncertainty from U.S. tariffs and the DOGE agenda has prompted a volatile week in the financial markets. UK Prime Minister Keir Starmer visited President Trump days ahead of  Ukrainian President Volodymyr Zelenskyy’s Washington visit; both leaders have tariffs and war top of mind. In Texas, a child has become America’s first measles-related death in almost a decade. Former FDA Commissioner Dr. Scott Gottlieb discusses the measles outbreak risks of declining vaccination rates in certain communities, bringing down the average vaccination rates in some states. Plus, Meta plans to release its own AI app, and it’s awards season! Variety’s Cynthia Littleton discusses the expected Oscar wins at the 97th Academy Awards this Sunday.   Dr. Scott Gottlieb - 16:36Cynthia Littleton - 27:06 In this episode:Dr. Scott Gottlieb, @ScottGottliebMDJoe Kernen, @JoeSquawkBecky 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.

28 Feb 35min

In a rare interview, Stripe CEO John Collison sits down with Andrew Ross Sorkin. At 15 years old, the payments company is worth $91.5 billion, but it’s still private. In part, Stripe has avoided going public thanks to tender offers it periodically offers employees and shareholders. In its most recent tender offer, Stripe revealed $1.4 trillion in total payment volume in 2024, and Collison explains that AI, including OpenAI, Perplexity, and over 700 AI agents using Stripe have helped grow the company. In a special, extended conversation, Stripe CEO discusses the company’s future, the utility of stablecoins, and the next era of AI innovation. John Collision - 06:32 In this episode:Andrew 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.

28 Feb 22min

President Trump has said tariffs on Mexico and Canada will begin next week. Eamon Javers reports from Washington on the tariff messaging from The White House. Once COO and President of Blackstone and now Chairman of Costco Tony James shares his perspective on the US economy, business strength, and consumer confidence. James considers American business to be slowing down, thanks to uncertainty from the administration. In the face of DEI rollbacks across corporate America, Costco remains consistent in their commitment to equity. Plus, Nvidia topped analyst estimates, for the first time in a decade, a child in the US has died from the measles, and Elon Musk’s efforts in the US government could affect his businesses.  Eamon Javers - 16:39Tony James - 27:10 In this episode:Eamon Javers, @EamonJaversJoe Kernen, @JoeSquawkBecky 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.

27 Feb 43min