Power Lunch

Artificial Intelligence is what everyone is talking about right now – from boardrooms to living rooms across the country and world.

What everyone wants to know: is Microsoft or Google winning the AI race? Is ChatGPT going to replace my job? And does AI pose a real threat to humanity?

We’ll discuss all of those topics and much, much more – including the industries already being disrupted, potentially changing life as we know it.

Nvidia is soaring after its AI-driven results, dragging any potential AI beneficiary up along with it. We’ll dig into the numbers, and also ask if AI is being overhyped.

Plus, mortgage rates are now above 7%. And now hardly anyone is willing to move and give up their low interest rate. We’ll talk about what that’s doing to the housing market.

Federal Reserve officials were divided at their last meeting over where to go with interest rates, with some members seeing the need for more increases while others expected a slowdown in growth to remove the need to tighten further, according to the latest minutes. We’ll explore where the FOMC goes from here, and what it means for markets & the economy.

Plus, champagne sales were booming coming out of the pandemic. But will the slowing economy and environment factors burst the champagne market’s bubble? We’ll ask the CEO of Moët & Chandon.

Retail earnings reports are creating a worrying picture of the consumer. But former Fed Chair Ben Bernanke says a soft landing is still possible. We’ll explore.

Plus, CNBC is gathering business leaders at its CEO Council Summit. We’ll talk to the CEO of Crocs about all of the issues Wall Street is talking about right now.

CNBC’s Tyler Mathisen and Kelly Evans take you through the heart of the business day bringing you the latest developments and instant analysis on the stocks and stories driving the day’s agenda. “Power Lunch” delves into the economy, markets, politics, real estate, media, technology and more. The show sits at the intersection of power and money. “Power Lunch” gives viewers a full plate of CNBC’s award-winning business news coverage, plus a healthy dose of personality from the show’s anchors and the network’s top-notch roster of reporters and digital journalists.

President Biden has a busy weekend on deck. Today he’s in Japan meeting with G-7 leaders on Russia, China & more. 

While halfway across the world, negotiations on the debt ceiling are reportedly stalled ahead of a fast-approaching deadline. We’ll discuss. 

Plus, retail has a shrink problem. Theft is hitting the bottom line big time, and it’s not kids shoplifting – it’s organized crime. We’ll explore the issue.

Everyone’s talking about AI right now: its impact on society, markets and the world. And 7 stocks are driving all of the market’s gains, with most of them knee-deep in the AI boom. We’ll discuss.

Plus, retail results are coming in. We’ve heard from Walmart and Target so far. But which stock is the better buy here? We’ll ask our analysts to duke it out in an old-fashioned “bull fight.”

In this hour, we’ll break down the key parts of Elon Musk’s exclusive interview on CNBC. 

The Tesla CEO saying there could be a reckoning for U.S. companies doing business in China, and calling work from home a four-letter word we can’t say on TV!

And also saying he’ll keep saying whatever he wants on Twitter, even if it costs him money. We’ll break it all down for you.

Senate hearings are underway on Capitol Hill to discuss exactly what went wrong with Silicon Valley Bank, and what could go wrong with AI too.

And the FTC is flexing its muscle yet again, suing to block the major pharma merger between Amgen and Horizon Therapeutics. We’ve got it all covered for you.

Plus, we’ve got a big interview coming up on CNBC: David Faber is sitting down with Elon Musk after Tesla’s annual shareholder meeting. We’ll get you ready for that as well.

Peter Merrigan, Taurus Investment Holdings CEO, discusses commercial real estate demand and outlook. Ari Wald, Oppenheimer managing director, joins to discuss three stocks: Alphabet, Dupont De Nemours and Charles Schwab. Bryan Fairbanks, Trex CEO, discusses construction demand, inventory and recession fears. NYU’s Suzy Welch and Conference Board CEO Steve Odland, discusses the corporate agenda and M&A activity returning to the market. Plus, CNBC’s Robert Frank reports on how trouble on Wall Street and the economy is causing a supply glut in the Hampton’s summer rental market.

 

You’ve seen the warnings from Hollywood movies before: artificial intelligence will destroy society as we know it. But now, even Wall Street is joining in.

One firm is out with a terrifying note, warning there’s a ’50-50 chance’ that AI will wipe out all of humanity. The analyst behind the call will join us to explain his frightening thesis.

Plus, Elon Musk is stepping down as CEO of Twitter. While Tesla is raising prices of some of its EVs here in the U.S., but recalling some vehicles in China. We’ll break it all dow...

PacWest is down more than 20% today, after reporting a 9.5% drop in deposits in the last week. We’ll explore the latest leg lower for banks, which is weighing on markets today.

Plus, we’ll talk to Houston Rockets owner Tilman Fertitta about what he’s seeing on the economy, and the consumer.

Google is holding its big AI event today, with lots of news breaking throughout the day. We’ll bring you there, and ask whether the company can catch up after a slow start in the chatbot race.

Plus, the Covid-19 emergency is set to end tomorrow, as far as the government is concerned. We’ll talk about what that means, along with many other health topics, with Dr. Scott Gottlieb.

As the U.S. gets closer to the debt ceiling deadline and a potential default, President Biden is set to meet with Congressional leaders to discuss options. We’ll look at the potential economic damage and market impact.

Plus, PayPal is plunging after earnings, issuing weak guidance. Rival Affirm also reports today. We’ll dig into the potential problems at hand for the payments space.

President Biden is expected to propose new rules to make airlines pay customers for delays and cancellations, if the airline is to blame. But how will this affect the carriers? And it sounds great for passengers, but will the costs just be passed onto them anyway? We’ll explore. Plus, Peloton shares have been a disaster for years now. But one analyst just gave it an upgrade. Is the stock really investable now? We’ll debate.

Whether it’s the Federal Reserve’s mission to hike rates until inflation is curbed, or the growing likelihood of a total federal shutdown – it might be time to accept the reality that Washington’s shadow is cast over Wall Street…and maybe for good. Former New Orleans Mayor Marc Morial joins us to weigh in.

Plus, as rates continue to climb, are millennials losing hope in the housing market? A new report from BofA shows they expect to pay even more for homes down the line, with no end in sight. We’ll speak to the analyst behi...

We’re watching everything going on in the regional bank crisis. PacWest and Western Alliance are getting crushed.

PacWest says it’s weighing a possible sale, while Western Alliance claims it’s not. We’ll cover all of the angle for you.

Plus, Apple is set to report earnings after the bell. We’ll get you set for one of the biggest reports on Wall Street.

“Power Lunch” is on the road in Washington, as we count down to the Federal Reserve’s latest interest rate decision. Our all-star panel breaks down everything at stake, while Sen. Elizabeth Warren joins Kelly and Tyler to discuss the economy, the banking crisis & more. We’ll cover all the angles for you right up to Fed Chair Jerome Powell’s press conference.

Regional bank stocks are getting crushed again, dragging down the broader averages with them. The rescue of First Republic not stopping the slide. We’ll tell you all you need to know.

Plus, Ashton Kutcher’s venture capital fund just raised $240 million to invest in AI. He’ll join us to talk about that, the Hollywood Writers’ strike and more.

JPMorgan is buying First Republic, as CEO Jamie Dimon declares this part of the banking crisis over. But a big bank is now getting even bigger. Is that a good thing? We’ll debate.

Plus, new mortgage fees are going into effect today. Some buyers will pay more, and it’s quickly becoming a controversial issue. We’ll separate emotion from the facts. 

And, Norwegian Cruise Line is higher on strong results, and reporting strong demand and pricing for this year and next. Is the stock finally a buy? We’ll ask our trader.

Stocks are higher again following yesterday’s monster gains, as the busiest week of earnings season wraps up. We’re digging into all of the big reports, from oil, to tech, to social media and more. Plus, don’t forget about next week’s Fed meeting! We’ll get you set for a big week to come, and tell you all you need to know to be ready.

The 2023 CNBC stock draft is officially here! 10 teams of athletes, celebrities and investors competing for stock-picking supremacy.  Actor Ryan Reynolds and his partner Mark Douglas, the MNTN Goats will try to defend their title. WWE Superstar Charlotte Flair, TV host Tom Bergeron and NFL stars Ndamukong Suh, DK Metcalf and CJ Mosley are among the competitors this year.  Each team picks two investments from a predetermined list.  We’ll track each stock's performance from the day of the draft until the Friday before the Super Bowl in February, and the team with the highest average appreciation wins.

UK regulators are suing to block Microsoft’s takeover of Activision, which would likely kill the deal. We’ll discuss the impact for both companies, and the increase of governments standing in the way of mergers. Plus, just when you thought it was safe, the bank crisis is getting ugly again. First Republic is the latest victim, slumping below $5 per share as it attempts to get help from other banks. Can it be saved? We’ll debate.

Earnings season is in full swing, with big reports out before the bell, and even bigger reports coming out after the bell. We’ll dig into the companies that already reported, and get you set for what’s still to come.

Plus, President Biden has officially announced his 2024 re-election campaign. We’ll dig into the economic angles of a 2nd Biden term, from taxes to the latest on the debt ceiling.

We’ve got a big week on deck for markets. A third of the S&P 500, and half of the Dow 30 are set to report earnings -- including Microsoft, Meta & Amazon. Will this earnings parade finally shake up an uninspired market? We’ll debate. Plus, Bud Light partnered with a transgender influencer, and it seems to have backfired for the brand in a major way. We’ll examine the always-sticky situation when companies wade into controversial social issues.

AI is the hottest segment of technology right now. We’ll explore how different AI tools get so smart in the first place, plus AI’s impact on culture, music and even the economy.

Plus, we’re less than a week away from the 2023 CNBC Stock Draft. Can the MNTN Goats, led by Ryan Reynolds, repeat as champions? We’ll draw this year’s draft order live.

Stocks and bond yields alike are sliding today amid more signs of weakness in the economy. We’ll tell you one stock’s warning you may not have heard about, and could be a telling sign for where we go from here.

Plus, SpaceX launched its Starship rocket for the first time today, but it blew up mid-flight – and on live television. Is just getting it off the ground a success, or is this a setback for the space race? We’ll debate.

Disney’s battle with the state of Florida took a new turn today, as the stock sinks amid reports of thousands of job cuts. Can the company really win this fight? We’ll explore. Plus, we’re wrapping up our real estate road trip in San Francisco. We’ll examine how mortgage rates are affecting one of the priciest markets in the country.

Netflix reports results tonight, following its live streaming debacle over the weekend. But a new problem has emerged for content creators: a Hollywood writers strike. How serious is the threat, and how can streamers work around it? We’ll explore. 

Plus, Southwest planes are back in the air after yet another computer meltdown. How did this happen again? And can it be prevented from happening again in the future? We’ll discuss with an insider.

Google CEO Sundar Pichai warns society is not yet ready for AI.  Netflix tries to stream a live reunion show for “Love is Blind” and fails.  And a Washington-area realtor updates us on the state of the housing market.

Earnings season just kicked off with a bang. UnitedHealth is dragging on the Dow after results, while JPMorgan is jumping higher. We’ll dig into all of the numbers on the big banks that reported, and get the big picture from a regional bank CEO as well. Plus, NJ Governor Phil Murphy joins on the state of the Garden State’s economy, taxes, the exodus of wealth from the state and more.

New White House regulations are under fire, as auto companies are unhappy with new emissions rules. And a new business lobbying group is forming to push back on what it calls “future-killing” tax policies. We’ll break it all down. Plus, we’re seeing big changes to the employment picture. The “Great Resignation” is all but over, and working from home could soon be a relic, too. We’ll explain why.

Fallout from the U.S. banking crisis is likely to tilt the economy into a mild recession later this year, according to the Fed minutes released today. That comes after CPI data cooled in March.

Are markets and the Fed now on a collision course? And what could that mean for you and your money? We’ll explore all of the angles for you.

The Nasdaq is falling again today, on pace for its 5th drop in 6 sessions. We’ll take a closer look at 2 tech titans off to a rough start in April: Apple & Tesla.

Plus, the markets are awaiting tomorrow’s big CPI print. If it shows inflation cooling, could the Fed press pause on rate hikes? Could stocks sinks if keeps hiking? We’ll weigh all the scenarios.

It’s a busy week for the markets. We have CPI and retail sales data on the economic front, but also earnings season kicking off with a lot of big banks. We’ll explain what you need to watch for, and what you should be doing with your money ahead of it all. Plus, Disney just announced 3 more Star Wars movies on deck, while “Super Mario Bros.” is cleaning up at the box office. Could franchise fatigue start setting in? We’ll debate.

The jobs market is showing signs of cracking. Weekly jobless claims are on the rise, following a weak report on payrolls from ADP.

All as Wall Street awaits the big government employment report due out tomorrow. We’ll look at what these ‘labor pains’ mean for the Fed, markets & the economy.

Is the banking crisis finally over? JPMorgan CEO Jamie Dimon says “no,” and that the repercussions will be felt for years. But we’ll speak to an analyst who’s upgrading one regional bank, saying there’s still “value” in it. Plus, what’s the best way to get laid off: in person at the office, or from the comfort of your own home? Our panel will discuss that and several other hot topics of the day.

Stocks are pulling back today after a strong recent run. But despite that good start to 2023, market pessimism is running high. We’ll ask legendary investor Mario Gabelli what he sees ahead for the stock market and the economy. Plus, Fmr. President Donald Trump is about to be arraigned in a New York court. We’ll bring you the latest details as they happen.

CNBC’s Rick Santelli checks in with traders on the floor of the CME as Treasury rates fall in the wake of a weaker-than-expected ISM manufacturing index report. Mike Bailey of FBB Capital Partners discusses investment strategy among growth, cyclical and defensive stocks ahead of earnings season. Eva Ados, COO of ERShares, discusses the outlook for Chevron, General Electric and Macy’s. CNBC’s Diana Olick reports on a coffee start-up doing away with single-use plastics in coffee pods. Michael O’Hanlon of Brookings Institution and Dennis Unkovic of Meyer, Unkovic and Scott discuss new details in the flyover of a Chines...

Market turmoil & rising bond yields have some investors willing to sit on the sidelines and take the steady returns in treasuries. But are they going to be sorry later? We’ll hear both sides of the argument in a ‘stocks vs. bonds’ bull fight. Plus, Richard Branson’s Virgin Orbit is cutting nearly all of its workers and ceasing operations for the foreseeable future. We’ll discuss the latest black eye for the once-hot SPAC space.