"The Exchange" on CNBC is a one-stop shop for the day's top business stories, along with breaking news and the must-see market movers heading into the back half of the trading day. This newsroom-based program also features lots of original reporting, in-depth conversations and showcases CNBC's award-winning investigative work.
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Stocks Sink on Tariffs and Summer Jobs Shock 8/1/25
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43:58Stocks under pressure after President Trump rejiggers ‘reciprocal’ tariffs on a slew of countries, including a near-immediate 35% tariff on Canada, and July’s jobs report comes in light. We dig into the data and how to position as uncertainty ramps back up.By CNBC
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Figma Goes Public as Tech Earnings Power the Market to New Highs 7/31/25
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49:06Design software maker Figma is making its public debut on the NYSE, valued at about $50 billion. We speak with the market maker behind the opening and bring you the first trade. And as tech earnings power the S&P and Nasdaq to new record highs, we look ahead to the next big tech reports, including Apple and Amazon out after the bell on Thursday.…
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A Fed Divided, A Cybersecurity Deal, and Zuck’s “Superintelligence” 7/30/25
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43:26The Federal Reserve the most divided its been in more than 30 years, with two governors expected to dissent in today’s decision amid President Trump’s repeated calls for Chair Powell to lower rates. Palo Alto poised to buy Cyberark. Plus, Meta’s push to create a new category of AI-powered personal assistants.…
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Big Tech’s Big Week, Tesla’s New Chip Deal, and Health Care Hammered 7/28/25
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43:51Four of the Mag 7 names report this week and we’ve got a pair trade ahead of earnings. Tesla signs a $16.5B chip deal with Samsung. Plus, why health care stocks could stay under pressure for longer.By CNBC
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Countdown to the Fed Decision, Trading Trainwrecks, Market Breakout or Breakdown 7/25/25
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43:59On the heels of President Trump’s tour of the Federal Reserve yesterday, the FOMC prepares to gather for their rate decision next week. Our market guest says the conditions are right for a cut, but the committee runs the risk of looking like they’re succumbing to pressure from the President. Plus, a number of companies plunging after weak results t…
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The View From the C-Suite and Trump’s Historic Fed Visit 4/24/25
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43:45Tractor Supply stores see 10 times more visitors per year than Disney World, Alaska Air’s recent IT outage will shave 10 cents off third quarter earnings, and bad weather, combined with a slowdown in international visitors, has the owner of the Empire State Building lowering guidance. Plus, what President Trump’s tour of the Federal Reserve could m…
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Berkshire’s Buffett Premium, Bullish on Builders, and the Earnings Trade 7/23/25
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43:38Should the Buffett premium in Berkshire be there anymore? One long-time shareholder says no, while UBS’ senior insurance analyst says it was never there to begin with. High prices and elevated rats weighing on housing, but the builders are a buy. Plus, the trade on Chipotle, Alphabet, and IBM ahead of their after the bell reports.…
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Bessent Doubles Down, Trimming Tech, and Risky Munis 7/22/25
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43:37NEC Director Larry Lindsey weighs in on Treasury Secretary Bessent’s renewed call for a full review of the Federal Reserve. The old tech stock that’s looking expensive. Plus, with yields under pressure, are muni bonds starting to look risky?By CNBC
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Delivering Gains, “Just Own Tech,” and the Microstrategy of Ether 7/21/25
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43:45Bernstein’s bullish on rideshare and delivery ahead of earnings. One health care strategist says we’re in the middle of the worst health care sector trade ever, and he says it’s time to “just own tech.” Plus, the Microstrategy of ether debuts.By CNBC
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Robinhood CEO, Netflix’s Ad Future, FICO vs. VantageScore 7/18/25
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43:56Ahead of President Trump signing the country’s first-ever piece of crypto legislation, Robinhood CEO Vlad Tenev joins us in a “First on CNBC” interview from the White House. Plus, Netflix shares having their worst month in nearly 2 years despite blockbuster earnings. MNTN CEO Mark Douglas breaks down their ad future. And we dig into the divide betw…
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Trump’s Fed Goals, Netflix’s AI Potential, and a KO for Corn Syrup? 7/17/25
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43:42Dan Clifton of Strategas and economist Claudia Sahm dig into what a Powell-less Fed would mean for markets—and the lessons Sahm says America doesn’t need to relearn. Why Netflix’s AI strategy could give it an even wider lead. Plus, is Coca-Cola about to ditch high-fructose corn syrup?By CNBC
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The Future of the Fed Chair and Private Assets Go into Retirement 7/16/25
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43:28President Trump denying reports he is set to fire Fed Chair Powell, but in the same breath also telling reporters he’s not ruling anything out. We dive into whether the president has that power and what it means for markets. Plus, retirement accounts could soon be able to invest in private assets, but are they worth the risk?…
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Nvidia’s China Win, Crypto Week, and the New Battleground Stock 7/15/25
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46:46The Trump administration reverses course and allows Nvidia to sell AI chips to China. The C-Suite view on the importance of the GOP’s Crypto Week. Plus, the new battleground stock that continues to deliver gains.By CNBC
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China Openings Its Markets? The Next Steps for Trump Tariffs 7/14/25
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44:11Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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Nvidia’s Historic Week, Bitcoin’s Wild Ride, Pres. Trump Pivots on Putin 07/11/25
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43:40With Nvidia’s $4 trillion market cap milestone in the rear-view mirror for investors, what’s the next catalyst that could propel the stock toward its next trillion-dollar gain? We ask the author of “The Nvidia Way” about that and more. Plus, bitcoin hitting another all-time high as the entire crypto ecosystem gets a boost. And President Trump is te…
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CNBC’s Top States for Business List, Apple's Supply Chain Problems 7/10/25
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43:36Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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Nvidia’s $4T Milestone, Fed Chair Fight & Retail’s Big Week 7/9/25
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43:26Nvidia stock jumping today, lifting the company’s market cap past $4 trillion for the first time ever. We ask one tech watcher how much higher it can go. Plus, the Wall Street Journal says it’s Kevin Hassett vs. Kevin Warsh in the fight to replace Jerome Powell as Fed Chair. We discuss who’s leading the race. And Amazon’s Prime Day sale pulling in …
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Bears Out of Hibernation, “Shut Up, Dan” and Uber’s One Big Beautiful Bill Boost 7/8/25
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44:06Why we could see a 12% correction in stocks by year-end. Elon Musk telling Wedbush’s Dan Ives to “shut up.” Ives joins to dig into what’s got Musk so fired up. Plus, Bank of America bullish on Uber thanks in part to President Trump’s megabill.By CNBC
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Trump’s Trade Pivot, Tesla’s Political Risks, and America’s Deficit Reckoning 7/7/25
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43:50Stocks under pressure after President Trump pushed this week’s tariff deadline to August 1, saying he’ll be sending letters to trading partners over the next few days. What the recently signed megabill and Musk’s new political party means for Tesla. Plus, CNBC’s deep deficit dive.By CNBC
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CNBC Special Report: America's Deficit Reckoning 7/7/25
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49:11AMERICA’S DEFICIT RECKONING: What happens if the U.S. doesn’t rein in the budget deficit? CNBC Senior Finance & Banking Reporter Leslie Picker interviewed a dozen experts, investors and former government officials over the course of five months to explore the consequences of America’s fiscal path – not how to solve it, but what’s at stake if we don…
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Countdown to June Jobs Report, Is Bitcoin Old News? 7/2/25
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43:45Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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Apple's Rocky First Half, Senate Passes Sweeping Tax Bill 7/1/25
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43:53Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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New Market Highs & Robinhood’s Crypto Push 6/30/25
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44:04Both the Nasdaq and the S&P 500 hitting new record highs on the final trading day of the first half. We discuss the rally with one strategist who called it months ago. Plus, Robinhood hitting a new all-time high after announcing a slew of new crypto products. CEO Vlad Tenev tell us all about the company’s push into the space, and what’s ahead.…
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The AI trade helping to push both the S&P 500 and the Nasdaq to record highs. Our trader sees more room for tech to run and reveals the ‘dead money’ stock he’s buying now. Plus, President Trump walking back that July 4th deadline for the passage of his “One Big, Beautiful Bill” after it hits more snags in the Senate.…
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The Future of the Fed, Tax Bill Headwinds, and Regional Bank Ripples 6/26/25
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44:18Mohamed El-Erian says it’s getting harder to believe the Fed is apolitical. President Trump’s mega bill hits a snag in the Senate. Plus, what Zohran Mamdani’s NYC primary win means for regional banks.By CNBC
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Beware the Rally, Nvidia Hits a Record High, and the Mamdani Movers 6/25/25
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44:08Have stocks run too far too fast since the April tariff sell-off? How much further could Nvidia run after hitting a fresh intraday high? And what does Zohran Mamdani’s Democratic primary upset mean for NYC real estate?By CNBC
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The Case Against Cuts, Middle East Policy Repercussions, and the Weight-Loss Break-Up 6/24/25
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43:36Fed Chair Jay Powell standing pat on interest rates during his House testimony today. What the Israel-Iran conflict means for Trump’s mega bill. Plus, Hims’ compounding conflicts.By CNBC
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Middle East Conflict, Latest from The Fed 6/23/25
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55:05Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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Hot on Housing, (Mr.) Beast Mode, and Rick Perry Talks Iran 6/20/25
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44:05The housing names one value investor says present big opportunities. Netflix is in (Mr.) Beast mode, according to Wells Fargo. Plus, Former Energy Secretary Rick Perry weighs in on the Israel-Iran conflict.By CNBC
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Countdown to Fed Decision, Sen. Warren on Fed, Iran & More, and AI’s Talent Battle 6/18/25
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40:13Ahead of the Federal Reserve’s decision on interest rates, we look at what’s at stake and what to expect from today’s projections. Plus, Senator Warren joins us live from Capitol Hill to address President Trump’s criticism of Fed Chair Powell and the conflict in the Middle East. And OpenAI’s Sam Altman is accusing Meta of poaching its staff with 9-…
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DC Drama, The Fed Decision, the Deflationary Effects of Tariffs 6/17/25
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43:40The Senate’s version of the budget bill sparking swift criticism from some GOP House members putting President Trump’s July 4th deadline in jeopardy. Why the Fed will stay behind the curve when it comes to rates. Plus, are tariffs actually deflationary?By CNBC
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Israel-Iran Latest, Oil Pares Gains, G7 Summit Kicks Off 6/16/25
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44:13Stocks are bouncing back from Friday’s drop amid reports of de-escalation. Oil prices paring their gains as well, but the threat of a price spike could have major implications for this week’s Fed meeting. And President Trump is in Canada for the G7 Summit. We’ll speak with PIMCO’s Head of Public Policy, Libby Cantrill, about what to expect and what…
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Global Markets on Edge After Israel Strikes Iran 6/13/25
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44:11Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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Chime Soars in Public Debut, DOGE Cuts Face Congressional Test 6/12/25
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44:02Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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Trade Talks, Semis Surge and Tesla’s Turnaround 6/11/25
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43:54The US and China reaching an agreement on trade after two days of talks, but will they stick? Semis have their best 44-day period in more than 20 years. Plus, Tesla shares climb after a robotaxi announcement—and an apology.By CNBC
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China's EV Industry Concerns, The Fed's Next Move 6/10/25
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43:58Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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Home Price Growth Slows, The AI Arms Race 6/9/25
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43:58Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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Philly Fed President Exclusive, Trump-Musk Feud Latest, Apple WWDC Countdown 6/6/25
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43:40President Trump is calling on Fed Chair Powell to slash rates by a full point. We have Philadelphia Fed President Harker’s reaction and exit interview before he retires. The feud between Elon Musk and President Trump is making investors wonder what’s next for Tesla shares, on pace for their worst week in nearly two years. And Apple’s worldwide deve…
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Jobs Data, Tesla Shares Decline, Circle Soars in Public Debut 6/5/25
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46:21Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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Tariff Impact on Freight, Reddit Sues Anthropic 6/4/25
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43:38Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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Alphabet’s Hidden Gem, Stifel CEO on State of the Economy, Musk vs. Trump White House 6/3/25
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44:01Truist sees one exciting area of Alphabet’s business that’s getting zero attention or credit. He’ll tell us what it is, and why he sees the stock climbing 20% from here. Plus, Stifel’s CEO is cautious heading into the second half of the year but expects a lighter regulatory touch to boost the market. And Elon Musk is not pulling punches in his late…
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China Trade Tensions, Unhealthy Returns?, Alaska Pipe(line) Dream 6/2/25
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44:03Renewed trade tensions are pressuring stocks, with China accusing the U.S. of violating their agreements in Geneva. We have the latest from the White House and the potential impact on President Trump’s tax and spending bill. Plus, health care sat out the May rally, posting its worst month since December. We look at where investors can find opportun…
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US-China Trade Latest, Dimon’s Dire Warning, Musk’s Last Day 5/30/25
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41:41The White House and Beijing are trading salvos in the trade war over broken agreements and threats over semiconductor exports. Plus, JPMorgan Chase CEO Jamie Dimon has a dire warning for the bond market that all investors need to hear. And with Elon Musk wrapping up his time as a special government employee, we ask Wedbush’s Dan Ives about what it …
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Tariffs Blocked, Underscoring Nvidia’s Bull Case, and Come Fly the Blue Sky 5/29/25
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44:09A federal court has blocked some of Trump’s tariffs, including the ‘reciprocal’ levies, we tell you what’s next and what it means for the markets. The key word mentioned 27 times on Nvidia’s earnings call that experts say underscore the bull case of the chip giant. Plus, United and Jetblue team up.By CNBC
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Nvidia’s Second-Half Hopes, International Opportunities, and the “Nasty” TACO Trade 5/28/25
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43:23Nvidia’s Q2 results after the bell could be messy, but Raymond James sees hope in the second half. Why it’s not too late to get into the international trade. Plus, CNBC’s Megan Cassella gets President Trump’s response to Wall Street’s newest trade acronym: TACO (Trump Always Chickens Out).By CNBC
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Stocks Rally on Tariff Delay, but Budget Battle Looms 5/27/25
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44:02Stocks surge after President Trump delays EU tariffs until July, but Citi warns the GOP’s reconciliation bill could have big implications for stock valuations. Plus, could Trump’s trade war actually be deflationary?By CNBC
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Trump to Sign Nuclear Executive Order, Investing in Short-Term Bonds 5/23/25
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44:03Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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Higher Rate Safety Plays, Inflection Point for Housing? 5/22/25
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43:41Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.By CNBC
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Spending Bill Hurdle & Retailers Under Pressure 05/21/25
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43:43President Trump’s “Big, Beautiful Bill” just hit a major hurdle. The Chair of the Freedom Caucus now saying he doesn’t see the bill happening this week. We discuss. Plus, Target just cut their full-year sales outlook on weak consumer sentiment. We dive into what’s got that name, and others, under pressure.…
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Wall Street vs. Main Street, Google's Search Problem & Live at Tesla HQ 5/20/25
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49:43Retail investors have been far more optimistic about tariffs than professional investors...did they get it right? Google I/O kicks off as questions over the future of search remain. Plus, CNBC is live at Tesla HQ as Elon Musk takes Transportation Secretary Sean Duffy for a ride.By CNBC
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