WSJ's Take On the Week - TopPodcast.com

Latest Episodes:

How Trillions in New AI Debt Will Test the Bond Market Nov 16, 2025

Show notes

In this week's episode of WSJ’s Take On the Week, co-hosts Gunjan Banerji and Telis Demos discuss the lingering economic impact of the U.S. government shutdown and why a lack of crucial inflation and jobs data is making the outlook murky for the Federal Reserve. Next, Nvidia is set to report its third-quarter earnings this week. And Morgan Stanley estimates that only half of the roughly $3 trillion in global data center spending through 2028 could be funded by projected cash flows. So how are tech companies going to fund the rest?

Then after the break, Telis is joined by Guy LeBas, chief fixed income strategist at wealth management and investment banking firm Janney Montgomery Scott, to explore how the AI revolution will be financed. Oracle, Meta and Google parent Alphabet have made bond offerings valued in the tens of billions. LeBas explains that the trillions needed to help fund data centers will force tech hyperscalers to issue massive new debt, potentially increasing the size of the corporate bond market by 20% a year. And he talks about whether the AI bubble could find its way into the bond market.

This is WSJ’s Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street’s banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead.

As we look ahead to 2026, what major economic, markets or finance question is top of mind for you? We’d love to hear from you. Email the show at takeontheweek@wsj.com.

To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com

Further Reading

Who Will Pay for the AI Revolution? Retirees

Is the Flurry of Circular AI Deals a Win-Win—or Sign of a Bubble?

Meta Finishes Jumbo Bond Sale; Yield Climbs While Stock Slides

BlackRock Among Biggest Investors in Meta’s Giant Data-Center Debt Deal

AI Borrowing Floods Debt Markets

Big Tech Is Spending More Than Ever on AI and It’s Still Not Enough

Oracle's $18 Billion Bond Sale Meets Strong Investor Demand

For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard on The Street Column, and WSJ’s Live Markets blog.

Follow Gunjan Banerji here and Telis Demos here.

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Amazon and Netflix Are Winning: Can Old-School Media Compete? Nov 09, 2025

Show notes

In this week's episode of WSJ’s Take On the Week, co-host Telis Demos and guest host Miriam Gottfried discuss the Supreme Court case challenging President Trump's reciprocal tariffs and how that’s playing out in the markets. Next, they look at affordability as the winning message from recent elections, such as Zohran Mamdani’s successful campaign to be the next mayor of New York City. Plus, they explore the recent drama in the private credit market after executives at Blackstone downplayed the “cockroach” fears sparked by JPMorgan Chase CEO Jamie Dimon.

After the break, Miriam is joined by Michael Nathanson and Robert Fishman, senior media analysts at MoffettNathanson, to break down the potential Paramount Skydance and Warner Discovery merger. First, the analysts explain why global scale is a necessity for traditional media companies to compete with Disney, and big tech giants like Netflix, Amazon and Google’s YouTube. Later, the analysts discuss whether a merger will follow historical examples and fail to generate value for shareholders or whether this time truly is different.

Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com.

To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com

Further Reading

Warner Discovery Moving Fast on Split or Sale, CEO Says

Supreme Court Appears Skeptical of Trump’s Tariffs

Wall Street Couldn’t Stop Mayor Mamdani. Now It Has to Work With Him.

Private-Credit Earnings Ease Investor Concern Over Asset Class’s Health

For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard on The Street Column, and WSJ’s Live Markets blog.

Follow Gunjan Banerji here and Telis Demos here.

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How One Investor Is Profiting From Consumers’ Love of Travel Nov 02, 2025

Show notes

In this week's episode of WSJ’s Take On the Week, guest host Miriam Gottfried speaks with Eric Resnick, CEO of private equity investment manager KSL Capital Partners, about the resilience of the travel and leisure sector. He explains why he sees leisure travel demand as a powerful anchor that allows the sector to defy pressures typically seen during an economic downturn. We dive into the outlook for corporate travel, the challenges facing new hotel construction, the rising experiential economy and what investors should be watching for as lodging companies like Marriott and Airbnb release their earnings this upcoming week.

Correction: Hilton Grand Vacations released their earnings on Oct. 30. An earlier version of this podcast incorrectly said it was releasing its earnings this upcoming week. (Corrected on Nov. 3)

Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com.

To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com

For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard on The Street Column, and WSJ’s Live Markets blog.

Follow Gunjan Banerji here and Telis Demos here.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Why This Analyst Says Robinhood Is More Than a Meme Stock Oct 26, 2025

Show notes

In this week's episode of WSJ’s Take On the Week, co-hosts Gunjan Banerji and Telis Demos discuss market speculation, from the recent sputtering in the gold rally to what to expect from this week's Federal Reserve meeting. Next, Apple is reporting earnings this week, but the company saw a bump after a research report was released saying the company saw strong sales with its latest iPhone.

Later, Robinhood has come a long way since the meme stock mania, entering the S&P 500 company earlier this year and knocking on the door of being the largest publicly traded brokerage company. Christian Bolu, a senior analyst at Autonomous Research, joins Telis to dig into how Robinhood has transformed, how it stacks up to its competitors, such as Interactive Brokers, Charles Schwab, Polymarket and even sports betting company FanDuel, and how much more runway the platform has to grow.

Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com.

To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com

Further Reading

Gold Price Suffers Worst Day in More Than a Decade; Silver, Platinum Drop

Apple Stock Hits New Record on Report of Strong iPhone Sales

FanDuel Places Opening Bet on Promising but Precarious Prediction Markets

NHL Deal With Kalshi, Polymarket Adds to Pressure on Sports-Betting Companies

NYSE Owner to Invest Up to $2 Billion in Polymarket

Not Your Daddy’s Broker: How Robinhood Stacks Up Against Charles Schwab

Robinhood Stock Gets a Prediction Market Boost

Robinhood Markets to Join the S&P 500 Index

For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard on The Street Column, and WSJ’s Live Markets blog.

Follow Gunjan Banerji here and Telis Demos here.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Why This Legendary Investor Says We're in a Stock Market Bubble Oct 19, 2025

Show notes

In this week's episode of WSJ’s Take On the Week, co-hosts Gunjan Banerji and Telis Demos dig into the latest big bank earnings and what they signal about the health of the U.S. consumer. Next, they explore the disconnect between potential economic warning signs and the market’s speculative fever, where the “buy the dip” mentality continues to drive stocks to new records. Finally, they look ahead to the upcoming earnings from Coca-Cola, Keurig Dr Pepper, Colgate-Palmolive, Ford and GM.

Then, after the break, Rob Arnott, founder of investment firm Research Affiliates, joins Gunjan to chat about the stock market bubble. Arnott explains his case for why the market is "priced for perfection," and later, he breaks down how government stimulus and the rise of index funds are fueling the rally. And where can investors find opportunities in a frothy market? Arnott has an answer.

Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com.

To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com

Further Reading

Big Banks Cash In on Well-Heeled Borrowers

The Nation’s Biggest Banks Are Saying the Economy Is Still Strong

Trump’s Threat on Higher China Tariffs Wipes Out Stocks’ Weekly Gains

U.S., China Aim for a Delicate Balancing Act on Trade

An Unlikely Investing Hack: Why You Can Sleep Soundly and Earn More

For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard on The Street Column, and WSJ’s Live Markets blog.

Follow Gunjan Banerji here and Telis Demos here.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

If Trouble Is Brewing for Banks, Here's Where to Spot It Oct 12, 2025

Show notes

In this week's episode of WSJ’s Take On the Week, co-hosts Telis Demos is joined by Miriam Gottfried to tackle gold’s continued rally. They discuss the debate over whether its surge is a bet against the U.S. dollar or simply "catastrophe insurance" against a faltering AI-led stock market. Plus, with the U.S. government shutdown delaying key economic reports, investors are turning to Bank of America, Carlyle Group and likely this week’s bank earnings for clues on the economy's health.

After the break, Telis is joined by Chris Whalen, chairman of Whalen Global Advisors, and they get into this week’s coming earnings from JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs and more. Whalen explains why real trouble is brewing for banks in commercial real estate and private equity. And he shares what indicators he is looking out for in their earnings this coming week.

Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com.

To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com

Further Reading

Fed Minutes Reveal Divide Over Outlook for Cuts

The Supreme Court Just Became the Last Line of Defense for Fed Independence

Supreme Court Allows Lisa Cook to Keep Her Job for Now

Fed Independence Reaches Its Moment of Truth as Supreme Court Weighs Cook’s Fate

Powell’s Last Stand: Balancing a Tricky Economy and Intense Political Pressure

Trump Says He Is Removing Fed Governor Lisa Cook

Appeals Court Rejects Trump Request to Remove Fed Governor Lisa Cook

Why the Market Doesn’t Care Much About Trump Firing the Fed’s Cook

Further Podcasts

The Federal Reserve Under Siege

Extreme Inflation From A to Z: Argentina

Extreme Inflation From A to Z: Turkey

Extreme Inflation From A to Z: Zimbabwe

For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard on the Street Column and WSJ’s Live Markets blog.

Send us an email to let us know what you think of the roundtable format: takeontheweek@wsj.com

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Why This JPMorgan Analyst Says Now Is the Time to Buy Municipal Bonds Oct 05, 2025

Show notes

In this week's episode of WSJ’s Take On the Week, co-hosts Gunjan Banerji and Telis Demos explore how the Federal Reserve’s independence, a government shutdown and volatility around tariffs are driving gold to hit record highs. Then, does videogame maker Electronic Arts’ $55 billion buyout signal a long-awaited M&A boom? Plus, they discuss the “debasement trade” and how concerns over the U.S. dollar are also fueling a rally in bitcoin ETFs issued by firms like BlackRock.

Then after the break, Gunjan sits down with Neene Jenkins, head of municipal research at JPMorgan Asset Management, to dive into municipal bonds, which are used to fund infrastructure, highways, sewer systems and school districts. Is higher education issuing more debt because of federal challenges? Later, they discuss the sector's resilience to government shutdowns, and Jenkins answers a key question: How likely is a recession?

Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com.

To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com

Further Reading

Municipal Bonds May Not Remain This Cheap For Long

Are Muni Bonds Still a Darling on Wall Street? It Depends Who You Ask

A Mystery in the High-Yield Muni Market: What Are the Riskiest Bonds Worth?

ETFs Are Flush With New Money. Why Billions More Are Flowing Their Way.

A Once Unstoppable Luxury Housing Market Is Starting to Crack

Electronic Arts Goes Private for $55 Billion in Largest LBO Ever

For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard on The Street Column, and WSJ’s Live Markets blog.

Follow Gunjan Banerji here and Telis Demos here.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Will AI Spending Pay Off? Or Are We in a Bubble? Oct 02, 2025

Show notes

Artificial intelligence spending is hitting epic levels as Big Tech companies shell out for massive data centers to power new chatbots and other AI services. But will the spending--expected to amount to trillions of dollars in the coming years--pay off for investors?

This week on our columnists roundtable, business and finance editor Alex Frangos, markets reporter Chelsey Dulaney and senior markets columnist James Mackintosh are joined by Heard on the Street tech columnist Dan Gallagher to discuss the promise of AI. They discuss the major investment deals announced by Nvidia, OpenAI, Oracle, Microsoft and Alphabet and dig into the use of debt to finance growth, including by companies like CoreWeave, which has emerged as a key player in the data-center buildout.

Plus, they separate fact from fiction when it comes to comparisons between AI and the dot-com bubble.

And, finally, our panel answers a question from our previous about the tax implications of buying gold.

Further Reading

Spending on AI Is at Epic Levels. Will It Ever Pay Off?

Debt Is Fueling the Next Wave of the AI Boom

What the Dot-Com Bust Can Tell Us About Today’s AI Boom

CoreWeave, Meta Enter $14.2 Billion AI Cloud Infrastructure Deal

Nvidia to Invest Up to $100 Billion in OpenAI

Nvidia Has a Problem: Too Much Money

Oracle Is the New Nvidia, for Better or Worse

For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard on the Street Column and WSJ’s Live Markets blog.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Automakers Are Hitting the Brakes on EVs. Will That Help Their Stocks? Sep 28, 2025

Show notes

In this week's episode of WSJ’s Take On the Week, co-hosts Gunjan Banerji and Telis Demos kick things off by talking about perpetual futures or “perps,” which are offering turbocharged bets on bitcoin. Next, with the September jobs report out this week, they break down what investors should be looking out for beyond the headline number.

Later in the show, Telis is joined by John Murphy, a managing director of strategic advisory at Haig Partners, for a deep dive into what the end of the EV tax subsidy this week could mean for the auto industry. Then, Murphy makes the case for why the best strategy for Ford, Stellantis and GM may be to focus on their truck businesses. Later, Telis asks: Does the end of the EV credit mean a renaissance for the internal combustion engine?

Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com.

To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com

Further Reading

Why Ford’s Made-in-America Strategy Hurts It in Trump’s Trade War

Ford's Big EV Dilemma

Auto Industry Takes $12 Billion Hit From Trade War

Detroit Rediscovers Its Love for Giant Gas Guzzlers

Get Rich or Get Wiped Out: Bitcoin’s Hottest New Trade

Detroit Rediscovers Its Love for Giant Gas Guzzlers

For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard on The Street Column, and WSJ’s Live Markets blog.

Follow Gunjan Banerji here and Telis Demos here.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.