Squawk Pod

Latest Episodes:

A Deal Off, A ‘Kill Switch,’ & A Saudi Trip 7/11/22 Jul 11, 2022

Show notes

Elon Musk is over Twitter. He’s aiming to terminate the $44 billion dollar deal, and Twitter’s ready to take him to court over it, but Musk is seemingly unbothered by the drama. Former SEC Chair Jay Clayton maps out the various outcomes at this stage in Twitter-Musk saga. Covid cases are ticking up as we head into the end of the summer, and while most of us have readjusted our individual risk calculus to allow for normal life, former FDA Commissioner Dr. Scott Gottlieb suggests keeping our masks on. Leaked documents from Uber’s past are raising questions about the company’s ethical foundation, and Starbucks is rolling back a new, potentially questionable offering. Plus, President Biden is gearing up for his first in-office trip to Saudi Arabia.

In this episode:

Dr. Scott Gottlieb,@ScottGottliebMD

Joe Kernen,@JoeSquawk

Andrew Ross Sorkin,@Andrewrsorkin

Cameron Costa,@CameronCostaNY

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Twitter vs. Musk; Jobs Friday Surprise; GameStop Power Plays 7/8/22 Jul 08, 2022

Show notes

Some recession we’re having, huh? A surprisingly positive jobs report for the month of June may defy fears of a looming economic slowdown. Payrolls increased by 372,000 jobs, above expectations. CNBC’s Steve Liesman and SoFi Head of Investment Strategy Liz Young discuss the robust labor market with Joe Kernen and Melissa Lee. Elon Musk and Twitter are still dancing around a possible deal; The Washington Post reports that Musk’s proposed $44B bid to buy the social media platform could be in jeopardy. Axios’ Sara Fischer and Cowan merger strategist Aaron Glick say that Twitter’s board is the one that could be flexing its power – Musk faces a billion-dollar break-up fee if he walks away. And, the latest from the mother of meme stocks: GameStop’s latest move to reinvent the brick and mortar video game retailer puts its CFO and other corporate employees out of jobs.

In this episode:

Sara Fischer, @SaraFischer

Steve Liesman, @SteveLiesman
Liz Young, @LizYoungStrat

Joe Kernen, @JoeSquawk

Melissa Lee @MelissaLeeCNBC

Katie Kramer, @Kramer_Katie

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Boris Johnson Resigns; Luxury Art Market Soars 7/7/22 Jul 07, 2022

Show notes

UK Prime Minister Boris Johnson is resigning, following a torrent of resignations from ministers in his government in the past 24 hours. CNBC Europe’s Steve Sedgwick reports on the scandals that have caught up with Johnson and the quick sea changes of UK conservative politics. As Wall Street parses through the market’s recession signals and portfolio managers brace for a deeper downturn, the luxury art market soars. The first half of 2022 broke records for the industry, marking the most ever paid for an American artist at auction ($195 million), and the most ever paid for a single collection (a cool $922 million). CEO of Masterworks Scott Lynn offers investors fractional ownership–equity shares–of blue chip works by the likes of Basquiat and Banksy, and he says, it’s an alternative asset worth the hedge. Plus, the market is working its way through the Federal Reserve’s reasoning behind its 75 basis point rate hike decision last month.

In this episode:

Scott Lynn, @Scottlynn

Steve Sedgwick @Steve_Sedgwick

Joe Kernen, @JoeSquawk

Melissa Lee @MelissaLeeCNBC

Katie Kramer, @Kramer_Katie

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Messy Market Signals, & Morals Over Money: The New Hiring Handbook 7/6/22 Jul 06, 2022

Show notes

A bevy of market signals have alarmed investors: oil prices slipping, a surprise Nasdaq rally, a yield curve inversion. As inflation remains elevated and recession fears loom over the markets, the Federal Reserve and the Biden administration balance their respective toolsets to mitigate pressure on the American economy. Austan Goolsbee, former CEA chairman and Booth School of Business professor, and fellow economist Michael Strain, director of economic policy at AEI, discuss whether their strategies are enough to avoid a deep recession. In other headlines, the FDA has temporarily paused the ban on Juul e-cigarettes, and senators are urging the Federal Trade Commission to investigate TikTok. Plus, many employees are willing to take a pay cut to work at companies that align with their own values; CNBC’s Sharon Epperson reports on how the pandemic has shifted purpose, well-being, and values to the forefront of employee-employer relationships.

In this episode:

Austan Goolsbee, @Austan_Goolsbee

Michael Strain, @MichaelRStrain

Joe Kernen, @JoeSquawk

Melissa Lee @MelissaLeeCNBC

Sharon Epperson, @Sharon_Epperson

Katie Kramer, @Kramer_Katie

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Trust in Zuck, Travel Havoc for the Holiday, & EV Leader Evolution 7/5/22 Jul 05, 2022

Show notes

Meta is down 52% in 2022, and Mark Zuckerberg is bracing his shareholders for more tougher times ahead. He’s shuttering the company’s digital wallet project and announced a slash to engineer hiring; Cleo Capital’s Sarah Kunst says Zuckerberg’s revamped approach to employees could be what investors need. Plus, President Biden might be rolling back Trump-era China tariffs, Germany’s economic data has global investors on edge, July Fourth travelers had little to celebrate at airports this weekend, and Tesla’s EV competition could be catching up to Elon. In this episode: Sarah Kunst, @sarahkunst Joe Kernen, @JoeSquawk Melissa Lee @MelissaLeeCNBC Phil LeBeau, @Lebeaucarnews Eunice Yoon, @onlyyoontv Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Trust in Zuck, Travel Havoc for the Holiday, & EV Leader Evolution 7/5/22 Jul 05, 2022

Show notes

Airline Pilots Protesting & Netflix’s Super Slump 7/1/22 Jul 01, 2022

Show notes

Flight cancellations continue to distrust travelers, and Dennis Tajer, spokesman for the Allied Pilots Association and pilot for American Airlines, is blaming airline management. He claims pilots are being pushed to the edge. In the markets’ roughest first half of the year since the 1970s, Netflix was the worst performing stock. It may have come down to their lackluster content, says Rich Greenfield of LightShed Partners. Cynthia Littleton, Variety co-editor-in-chief, joins Rich to discuss how the streamer’s innovation might have hit a roadblock. The last time the S&P had it this rough in the first half of the year, Joe Kernen looked like a backup singer for the BeeGees.

In this episode:

Rich Greenfield, @RichLightShed
Cynthia Littleton, @Variety_Cynthia

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @Andrewrsorkin

Katie Kramer, @Kramer_Katie

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Taxes Back to Jerseyans, Markets Back to the 70s 6/30/22 Jun 30, 2022

Show notes

Americans are feeling the pain caused by inflation, but New Jersey is hoping to help its residents with an historically large budget plan. Governor Phil Murphy (D-NJ) discusses how Jersey’s rebate will alleviate some of the pain, from property taxes to back-to-school supplies. The markets are set to close on the worst first half in more than 50 years. The Dow and S&P 500 are on track for their worst three-month period since Q1 of 2020, and the Nasdaq is on its worst run since 2008. Plus, drama escalates in the Spirit Airlines boardroom.

In this episode:
Joe Kernen, @JoeSquawk

Melissa Lee @MelissaLeeCNBC

Andrew Ross Sorkin, @Andrewrsorkin

Katie Kramer,

@Kramer_Katie

Gov Phil Murphy @GovMurphy

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America, Hitting the Road & Skipping the Office: Best Western & Slack CEOs 6/29/22 Jun 29, 2022

Show notes

Americans are gearing up to travel this Fourth of July weekend despite higher fuel and food costs this year. Amid record-high inflation, president and CEO of Best Western Hotels and Resorts Larry Cuculic says summer travel is surging in cities like Seattle, New York, and San Francisco. Stewart Butterfield, CEO of Slack, joins Andrew from the Aspen Ideas Festival to discuss what impact a recession could have on employers recalling workers to the office. He says the pandemic has proved that digital infrastructure is now more important than a physical HQ. Plus, a leader of the Federal Communications Commission has issued a warning about TikTok’s threat to American data security, and President of the Cleveland Fed Loretta Mester has voiced her support for a 75 basis point hike in July.

In the episode:

Stewart Butterfield, @stewart

Joe Kernen, @JoeSquawk

Becky Quick, @BeckyQuick

Andrew Ross Sorkin, @Andrewrsorkin

Katie Kramer, @Kramer_Katie

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Tech Check-In: Cathie Wood & Eric Schmidt 6/28/22 Jun 28, 2022

Show notes

As investors come to terms with a recession and the tech markets weather a downturn, we turn to legendary tech voices Cathie Wood and Eric Schmidt for guidance. Cathie Wood, founder of Ark Invest and a famous innovation bull, shares lessons from last year’s profits and losses. She maps out the biggest problems facing companies today, including inflation and supply chain issues. Eric Schmidt, former CEO and Executive Chairman of Google, joins from the Aspen Ideas Festival to share lessons from his past with a new generation of investors facing their first market downturn. He discusses competition with China, the promise of Web3, and the ebbs and flows of economic cycles as we face a recession.

In this episode:

Cathie Wood, @CathieDWood

Eric Schmidt, @ericschmidt

Becky Quick, @BeckyQuick

Andrew Ross Sorkin, @Andrewrsorkin

Brian Sullivan, @SullyCNBC

Katie Kramer, @Kramer_Katie

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