The Exchange

40 Episodes


"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. "The Exchange" has all that plus "Rapid Fire," our innovative, reporter driven roundtable – which is a discussion of some of the day's most interesting, unusual and at times controversial topics. This series gives today's modern investor the day's top stories, the must reads & a whole lot more.

Coinbase’s big debut, and hunting for value
Yesterday at 6:21 PM

Investors are anxiously awaiting the trading debut of Coinbase, which is set to become the first major crypto business to go public here in the U.S. We’ll bring you the opening trade as soon as it happens, and explain what it means for investors, regulators and the future of cryptocurrencies too. Plus, with stocks at all-time highs, we’ll give you the names that Wall St. still thinks are good vales in sectors from energy to healthcare & more.

Special Episode: TechCheck – TechCheck Day 3
Yesterday at 4:29 PM

We’ve got a new show and we’re in the swing of things. Today on the show, CNBC’s Carl Quintanilla, Jon Fortt and Deirdre Bosa take a deep dive into the long-awaited Coinbase IPO and talk the future of crypto with Coinbase investor Ron Conway. Plus, we’ve got an exclusive interview with Slack CEO Stewart Butterfield, and Julia Boorstin joins to break down a scoop on the recent GOP retreat that brought together major donors and leaders at Trump’s Mar-a-Lago resort.

Vaccine Worries, a Shiny New Coin, and who owns your Vaccine Data?
Last Tuesday at 6:29 PM

The FDA pauses the distribution of the J&J vaccine due to new concerns. Could this erode overall vaccine confidence? And will Pfizer and Moderna be able to fill the gaps? We have the latest. Plus, from vaccine safety to keeping your personal data safe when you sign up for a vaccine…who actually owns your data and should you be worried? And, Coinbase hasn’t gone public yet but Wall Street is already weighing in. We’ll speak with the analyst who says it’s a “buy” but not for the faint of heart.

Special Episode: TechCheck – TechCheck Day 2
Last Tuesday at 4:58 PM

TechCheck Day 2! On our second day as a new show, CNBC’s Carl Quintanilla, Jon Fortt and Deirdre Bosa talk to Twitter’s Former CEO Dick Costolo about Dorsey’s bid to buy Clubhouse and how Bitcoin keeps climbing higher. Then, Affirm’s Founder & CEO Max Levchin weighs in on the future of payments and gives us a gutcheck after the company’s IPO earlier this year. We also hit the J&J news of the day and Julia Boorstin talks Facebook’s plan to delve deeper into the dating space.

Chips get chipped, third time’s a charm, and a race to the bottom?
Last Monday at 6:26 PM

Big Tech executives are heading to a summit at the White House, as the administration calls the chip shortage a national security issue. We’ll give you the details. Plus, we’ll ask our experts why Microsoft is paying $16 billion for a company that’s been rumored to be bought out by at least two other companies over the past decade. And, we’ll explain why the crypto world could heading toward a race to the bottom, and why what’s happening in the digital world could have big implications for the real one.

Special Episode: Introducing CNBC’s TechCheck podcast
Last Monday at 5:07 PM

Today, CNBC launched its newest daily podcast, TechCheck. Each day, CNBC’s Jon Fortt, Carl Quintanilla and Deirdre Bosa bring you the boldest ideas and most influential names in the tech industry. This bi-coastal program dives deep into stocks focused on new technologies and trends while highlighting the latest news out of iconic companies, FAANG heavyweights, social media darlings, streaming giants, red-hot disruptors and more. Available to listen daily by 12:30pm ET / 9:30AM PT.

Feeling Hot, Crypto Takeover, and good news in the mortgage market
Last Friday at 6:26 PM

Inflation numbers coming in higher than expected leading to questions about how hot the Fed will let the economy run. Should Investors be concerned? We’ll discuss. Plus, Robinhood traders jump all in on crypto. This as the investment world gets ready for Coinbase’s debut next week. We’ll look at the state of the crypto market. And, as the economy improves, some troubled homeowners are getting back on track paying their mortgages. We have the latest numbers.

Elevated euphoria?, Viva Las Vegas and a new airline takes off

Bullish sentiment among individual investors has surged to its highest level since 2018. But is that reason to worry? We’ll debate. Plus, as Las Vegas tries to return to normal life, we’ll speak with the CEO of Caesars about demand, the future and where visitors are spending money. And, a new airline is set to take off for the first time in 15 years, as the company bets that travel will snap back in a big way. We’ll give you the key details.

A Goldilocks economy?, “not just shelter-ins” and crypto flows climb

JPMorgan’s Jamie Dimon says he sees a ‘Goldilocks’ economy ahead that will last for years. But he also says there are some big risks out there that could derail the growth. We’ll give you the key details. Plus, the Street’s top tech analyst says the money will flow into the “recoveries” and the “not just shelter-in” names this year. He’ll give us his top picks. And, Cryptocurrency inflows are hitting an all-time high. We’ll look at where that money is heading, and if the record pace can continue.

Reopening vs. stay-at-home, the great outdoors and the box office bounces back

It used to be that investors had to decide between the reopening trade or stay-at-home trade. But these days both are getting love. We’ll take a hard look at where you should put your money right now, and ask our market experts for their top strategies. Plus, Americans flocked to the great outdoors amid the pandemic, and it looks like that trend is here to stay. We’ll explain how you can cash in. And, we’ll speak to the producer behind some of the biggest hits in Hollywood, including last weekend’s blockbuster “Godzilla vs. Kong.”

The travel turnaround, stimulus & spending and the street loves Roblox

As Americans begin to travel again, we’ll speak with the CEO of Booking Holdings about where demand is picking up fastest. Plus, round three of stimulus checks are hitting bank accounts across the country. We’ll look at where consumers are spending the money. And, shares of video game and development platform Roblox are soaring on some bullish initiations. We’ll explain why the street loves the stock.

Who stays on top?, where the jobs are and returning to the office

Last year’s market losers have become 2021’s biggest winners, with a rotation into new leadership to start the year. But will the new regime hold as we begin a new quarter? And how will a potential corporate tax hike factor in? We’ll explore. Plus, we’ll tell you where recruiters are seeing the most demand, and what workers value most right now ahead of tomorrow’s jobs report. And, Google is accelerating the partial reopening of its offices and putting limits on future remote work. We’ll explain why.

Biden’s $2 trillion bet, the biggest market threat and hopping on the crypto train

President Biden is set to unveil his $2 trillion jobs and infrastructure plan today. We’ll break down the key details, and also reveal one sector analysts believe will benefit from it. Plus, there are many risks to the market right now; but what’s the biggest? We’ll give you the results of our exclusive CNBC stock survey. And, Goldman Sachs apparently wants in on the Bitcoin Boom. We’ll explore the details on its potential plans to offer digital assets.

Different this time?, a buyback bounce and a SPAC-tacular slowdown ahead?

The Archegos Capital drama could end up being one of the largest margin calls and liquidations of all time. But there seems to be no market reaction – yet. We’ll ask one of the key players in 1998 Long Term Capital collapse why. Plus, companies are making their way back into the market in a buyback binge after a slowdown in 2020. We’ll explore the market impact. And, is the red-hot SPAC market finally starting to cool down? And if so, how might investors in the space protect themselves? We’ll debate.

Margin call meltdown, cracks in the market and the “disruptive” bet

A Wall Street money manager helped tank some big names, and exposed wat could be an over-leveraged banking system. We’ll explain why. Plus, the federal housing eviction program is starting to cause cracks in one key area of the market. We’ll explore the potential ripple effect. And, we’ll talk to the 5-star fund manager who has outperformed the markets by betting on what he calls “disruptive” companies.

Opportunities in the Tech Sector, Why Couches Are the New Toilet Paper and Demand is at an ‘11’

A five-star fund manager gives us his buys in the tech sector amid the current slump. With the “Ever Given” container vessel stuck in the Suez Canal, a logistics executive says couches are set to become the new toilet paper. Plus, the CEOs of Fender and Sweetwater weigh in on the boom in making music at home during the pandemic.

“Cheap hope”, Congress gets social and not all fun & games

A prominent Wall St. analyst says “cheap hope” is the bull case for Intel right now as it attempts to revitalize its business. He’ll join us to explain why. Plus, CEOs of the social media giants are set to testify in front of congress again. We’ll get an inside look at the questioning and tell you what to expect. And, Gamestop’s “nothing burger” earnings report sent the stock sinking. We’ll discuss what it means for the company, its investors and the market.

The hot housing market, a ‘penny’ for your thoughts and an aviation situation

Buyers are facing a lot of challenges in the housing market, from hot prices and low inventory to rising rates & commodity prices. We’ll speak with Coldwell Bank CEO Ryan Gorman about what’s dictating the market, and his advice for how first-time buyers can put their best foot forward. Plus, social media-driven traders have a new, old target – penny stocks. We’ll give you the key details on what’s driving the interest, and how this might play out. And, consulting firm Oliver Wyman is forecasting a major pilot shortage ahead. We’ll explain what it means for consumers, airlines and...

The dirty little secrets of Bitcoin, investors ignore Powell and a “picture perfect” controversy?

Speculation, not diversification. That’s what Bank of America says about owning Bitcoin. We’ll talk to the analyst behind that bold call. Plus, more calming words from Federal Reserve Chair Jerome Powell aren’t enough to give investors confidence in the market today. We’ll ask our experts why. And, social media platform Instagram is considering a version of the app for users under age 13. Is it setting up for a “picture perfect” controversy? We’ll debate in Rapid Fire.

Tech vs. Treasuries, Bitcoin & Baseball and a retail refresh?

The Tech vs. Treasury battle rages on, as investors flee high-valuation names as bond yields soar. Who will win out in this market tug-of-war that has trillions of dollars on the line? We’ll as our experts. Plus, we’ll speak to the Oakland A’s President about the team’s bold move to offer suite access for the price of one Bitcoin. And, there’s some big money going after Kohl’s, but the beaten-down retailer is telling them to hit the road. We’ll give you the key details.

The Fed’s next move, a “fresh pick” and the impact of behavioral bias

It’s a big day for the Fed, as the market throws a ‘taper tantrum’ ahead of today’s FOMC decision. No rate hike is expected, but will Chair Powell have to walk a tightrope as the bond market screams “inflation”? We’ll debate. Plus, Baird just named Amazon a “fresh pick,” saying it could soar up to $5,000 per share soon. We’ll talk to the analyst who made the call. And, Wells Fargo Investment Institute just released a report on how extreme swings in the market could lead to behavior biases for investors. We’ll explore why.

Biden’s next steps, pot stocks light up and a hole in one

The $1.9 trillion American Rescue Plan is officially on the books as it just passed through congress. But with the deal now done, could the administration turn its attention to raising taxes? We’ll ask White House Adviser Jared Bernstein. Plus, pot stocks are on fire as more states consider legalization. We’ll speak with cannabis company Columbia Care about what lies ahead for the industry. And, 2021 Players Championship winner Justin Thomas joins us to discuss his big win, his investments and how Golf has changed one year after the pandemic began.

“Old school” get its day in the sun, could SPACs get whacked?, and all gassed up

When it comes to stocks, more and more experts are saying that “old school” stocks and businesses should shine ahead. Could ‘boring’ be the new exciting when it comes to investments in 2021? We’ll debate with our market experts. Plus, skepticism is growing about the easy money world of SPACs. Could they be headed for a bust? We’ll explore. And, gas prices are soaring, with the average U.S. gallon jumping $0.25 in the past three weeks. We’ll explain why.

The ride continues, from the NFL to NFT and too many “cooks” in the kitchen?

It’s been a roller coaster ride for the Nasdaq this week as bond yields continue to rise. Will this tug of war continue into next week as we await the next Fed decision? We’ll ask our market experts. Plus, NFL Superstar Patrick Mahomes makes his CNBC debut to give a big announcement on his venture into the world of NFTs. And, the pandemic created a huge boom for third party delivery apps, but we’ll explain why there might be too many players post-pandemic.

The Teflon market?, Bitcoin’s big year and under-the-radar plays

The market has come a long way since a pandemic was declared exactly one year ago today. We’ll take a look at how far we’ve come, and try to answer the question: what comes next after this incredible momentum? Plus, Bitcoin is back in a big way, up more than 600% in the past year. We’ll look at what might keep the crypto craze rolling. And, we’ll give you two under-the-radar retail names to play the reopening trade, and why experts think they have plenty of room to run.

The tech & rate tango, the ‘contactless’ boom and not playing games!

This week Tech slid into correction, only to rebound a day later and push the Nasdaq to its best gains of the year. Have we seen the bottom, or could another rate-induced selloff be on the horizon? We’ll ask our market experts. Plus, many consumers said goodbye to cash and hello to contactless payments amid the pandemic. Is that boom here to stay? We’ll discuss. And, Roblox is set to make its public trading debut via direct listing after a three month delay. We’ll explain why it was likely worth the wait.

Tech bounces back, all charged up and a social media snapback

The tech sector is roaring back today following a five-day losing streak. Is this a one day blip, or the return of the once market darling? We’ll debate with our market experts. Plus, we’ll give you an under-the-radar way to play the growing EV sector, including some stocks to consider. And, we’ll take a hard look at why social media stocks are starting to get some serious love from Wall Street again.

Cyberattack challenges, no longer a threat?, and the road trip is “alive and well”

A cyber attack on Microsoft has the White House scrambling for a response, as China-backed hackers are getting blamed for the act. We’ll speak with the company that discovered the flaw about what the next steps should be, and what lies ahead. Plus, hedge fund giant David Tepper is getting bullish on stocks. We’ll debate why thinks rising rates are no longer a threat. And, the CEO of Enterprise Holdings gives her thoughts on travel in a post-pandemic world, including how demand for rental cars in still strong.

Follow the money, more pain to come?, and a role reversal

Tech stocks are falling yet again today, with many once-loved names dropping 20% or more from their highs. With the storm of selling still underway, has the Fed perhaps lost control of the market? We’ll debate. Plus, the selloff is also hitting the ARKK hard, wiping out nearly all of its yearly gains. We’ll explain why the options indicate there’s more pain ahead. And, there’s a role reversal underway, with Energy surging and replacing Tech as the top dog. We’ll reveal an amazing stat on the growing gap between them.

Out of favor?, media stock madness and the return of the trade

The markets are at a crucial point, with the “buy tech and forget about it” trade that worked for so long now going bust. With many stocks down big today, we’ll ask our market experts if the investing landscape has really changed, and what you should expect. Plus, what’s old is new again with traditional TV stocks soaring despite the selloff in the averages. We’ll dive into the “media madness” trade. And, we’ll explain why you may want to forget about attending college and the debt it brings with it, and learn a trade instead.

A bond “birthday”, beads & betting and the future of work

Exactly one year ago today, the 10-Year Treasury yield fell below 1% for the first time ever. Could we be headed there again? Our market experts debate rising yields and the potential for falling rates. Plus, Apollo Global is taking retail chain Michael’s private and buying assets from Las Vegas Sands. We’ll clue you in on both deals. And, the CEO of ASGN, Inc. joins to discuss the future of work and where the jobs will be in a post-pandemic world.

A “drunk man in the snow”, an electric shock and a serial SPAC-er?

Guggenheim Partners CIO Scott Minerd joins exclusively to explain why he thinks the bond market is behaving like a “drunk man in the snow.” Plus, we’ll give you an under-the-radar way to play the EV craze without having to spend thousands of dollars on an electric car. And, financier, NHL team owner and noted SPAC dealmaker Bill Foley joins to talk about his newest investment: cybersecurity.

New month, new gains, Bitcoin’s next move and the G.O.A.T. trade

March is coming in like a lion, with markets having their best day of 2021 thus far. We’ll tell you where the opportunities are, and whether this is a sign of more gains to come as we start a new month. Plus, the CEO of the world’s largest crypto ATM, CoinFlip, joins to discuss Bitcoin’s next move and his philosophy for crypto investing. And, Tim Seymour joins to discuss the “Get Out And Travel” (G.O.A.T.) trade, including the areas you should buy into right now.

Tech turmoil, “preparation buying” and hedge funds playing defense

Following its worst day since October, the Nasdaq is trying to claw its way back with some gains today. Will March bring the tech trade back to life? We’ll ask the Co-Head of Goldman Sachs’ tech fund. Plus, we’ll talk to Wall Street’s #1 retail analyst, who says it’s time to get ready for the “preparation buying” phase of the recovery. And, the Gamestop frenzy nearly led to the collapse of some hedge funds. We’ll explain why they’re now using the same websites to defend themselves.

Tech wreck, hot new research and time to sell Netflix?

Stocks are selling off today, as fears of rising rates seep into the markets and hit the tech sector the hardest. Big names like Amazon, Apple and Facebook are down this week and heading lower. Is this a buying opportunity? We’ll debate. Plus, investors are looking for a hot new type of research these days – Reddit mentions. We’ll speak with a company offering just that. And, Laura Martin of Needham & Co. says investors should sell Netflix so they can buy into ViacomCBS. She’ll explain why.

A market reversal, Over-stocked?, and not-so-electric

Stocks are wiping out earlier losses, as investors seem to be putting fears of rising rates aside. But why the sudden shift in sentiment? We’ll ask Angela Mwanza of UBS, and get her best practices for investors right now. Plus, shares of Overstock are sinking despite posting a solid earnings beat. We’ll talk about its outlook, the consumer and its crypto investments with the CEO. And, the electric vehicle sector is sinking this month, with some big names down 20% or more. We’ll take a close look at what’s driving the move lower.

A “long way to go”, EV battery demand gets a jolt and a crypto crash

Federal Reserve Chairman Jerome Powell said the economy has a long way to go to recover, but also committed to keeping a backstop in place. We’ll break down all of his comments from his testimony today, and what they mean for both the recovery and your money. Plus, demand for electric vehicle batteries is set to surge, and a former Tesla executive is looking to cash in. We’ll give you the key details. And, in today’s Rapid Fire: Bitcoin tumbles from record highs, Home Depot sinks despite delivering a Q4 beat and WeWork is back in the headli

A shot at cruising?, a Spring Squeeze and robot warehouses?

When will Royal Caribbean and other cruise lines get back to sea? And will vaccinations be required? CEO Richard Fain joins us exclusively to discuss the path forward for travel and the pent-up demand he’s seeing for voyages. Plus, we’ll take a look at how rising mortgage rates, surging prices and tight supply could lead to a ‘Spring Squeeze’ for the housing market. And, in today’s Rapid Fire: Bitcoin whales are trimming their holdings, activist investors take aim at Kohl’s and does Instacart love robots?

An economic temperature check, adding to the Chip Wreck and time to take Dogecoin seriously?

As the pandemic drags on, we speak exclusively with New York Fed President John Williams. We’ll ask him all about the economy, policy flexibility, inflation and the path forward for asset purchases. Plus, the semiconductor industry is facing a new problem – the weather. We’ll explain why. And, should the so-called “joke” cryptocurrency Dogecoin be taken seriously? We’ll speak to an expert who thinks so.

Robinhood’s DC debut, Miami embraces Bitcoin and the Texas Energy Nightmare

Embattled app Robinhood is set to testify on Capitol Hill about its role in the Reddit-fueled stock trading frenzy. We’ll talk to Congressmen from both sides of the aisle who are getting ready to grill the CEO. Plus, Miami is considering a number of initiatives to embrace Bitcoin and other cryptos. We’ll speak with the city’s Mayor about them. And, we’ll bring you the latest details on the energy nightmare in Texas amid the state’s deep winter freeze.