Audio Transcripts 25h 3m 32s

Bitcoin faces pressure as key buyers like MicroStrategy pivot to cash and ETFs see outflows. Analysts warn of a potential "forced seller event" in January if MSCI removes crypto-heavy firms from its indexes, which could trigger $9B in passive outflows. 1m 35s

Bitcoin is down 20% in 3 months as MicroStrategy shifts to the defensive, selling $750M in shares for cash rather than BTC. With its stock down 50%, a potential MSCI index removal in January could trigger $9B in outflows, leading to higher volatility and thinner liquidity. 1m 0s

MicroStrategy is shifting to defense, selling $750M in shares to build a $2.2B cash reserve instead of buying Bitcoin. With the stock at a discount to its BTC holdings, its growth model is stalling as the firm faces potential removal from major indexes in January. 2m 29s

Nvidia is effectively paying $20B to bring in talent and tech from rival Groq, founded by Google’s TPU architect. By using a licensing model to avoid regulatory scrutiny, Nvidia gains expertise and solves memory bottlenecks while deploying its massive $60B cash pile. 1m 41s

Nvidia is paying $20B to license Groq’s tech and hire its top team, including the creator of Google's TPU. This "aqua-hire" strategy avoids regulatory review to secure AI inference talent and block rivals like AMD, despite Groq recently slashing revenue projections. 1m 8s

Strategy shares fell 40% this year as Bitcoin prices pulled back. The company is now in "defense mode," raising a $2B cash reserve and pausing Bitcoin purchases to prioritize debt. A potential MSCI index exclusion in January adds further pressure to the major crypto proxy. 1m 49s

A record 53 members of Congress are not seeking re-election, a historic high for this stage in the cycle. Driven by midterm trends and shifts in party power, the exodus includes key bipartisan voices, signaling a potentially narrow and divided outcome for the next Congress. 2m 40s

AEI's James Pethokoukis says Congressional gridlock is forcing a reliance on executive orders. While AI regulation has little momentum, the real risk to the AI boom is the failure to pass permitting reform for energy. Avoiding shutdowns is key for restoring market certainty. 3m 58s

Analyst Stacy Rasgon notes NVIDIA's deal with Groq bolsters its AI inference moat and integrates high-bandwidth architecture. While the deal silences critics, Rasgon remains skeptical of Intel's long-term turnaround, which he predicts could take until 2030 to complete. 4m 42s

Apollo Chief Economist Torsten Slok is bullish on 2026 growth, citing tax incentives and lower oil prices. However, he warns that extreme market concentration in AI—now impacting both equities and credit—poses a risk if the tech narrative falters despite a strong economy. 2m 36s

As 2025 wraps, analysts look to 2026. Gina Sanchez remains bullish on AI infrastructure despite rising inflation and a weak, K-shaped consumer. Justin Bergner expects a flat market, prioritizing value stocks like Belden for its industrial automation exposure. 6m 31s

Ben Emons of FedWatch Advisors expects the Fed to drive 2026 markets via a new chair and rate cuts. He views Rick Rieder as market-friendly and predicts a steepening yield curve and rising gold prices as investors hedge against policy and political uncertainty. 5m 7s

CNBC panelists share final trades: Katie Stockton picks Bitcoin (stop loss $84k) citing contrarian sentiment. Chris Verrone likes Software for a 2026 breakout. Kourtney Gibson favors MicroStrategy, while Brian Kelly bets on Freeport (FCX), gold, and copper. 1m 9s

CNBC’s Squawk Pod reviews the post-holiday economy. Retailer Michael Zaccour says value stores are beating luxury, while markets see gains in metals and AI chips. Plus, Arthur Brooks explains how to buy happiness through experiences, giving, and saving instead of stuff. 20m 38s

Caitlin Donovan of Joopiter discusses auctioning Kobe Bryant's iconic Kobe 6 sneakers, which could fetch $10M. She highlights the booming sports collectible market, noting these items are now viewed as historical artifacts, attracting a new global class of investors. 4m 47s

Charlie Cook analyzes the midterm landscape, noting a "sour mood" among swing voters and high GOP retirement rates. Despite gerrymandering, low approval for Trump in swing districts suggests a difficult path for Republicans to maintain their House majority. 5m 0s

DCLA’s Sarat Sethi advises diversifying into underappreciated sectors like healthcare, commodities, and financials. He favors high-quality cash flow companies like Freeport-McMoRan and Thermo Fisher, noting stock selectivity is key as the broader market is fairly valued. 4m 21s

Economists Jared Bernstein and Peter Earle analyze the strong 4.3% GDP growth. Bernstein notes a K-shaped recovery and tariff concerns, while Earle expects 2025 growth to be driven by broadening capital investment despite cooling labor market conditions. 4m 50s

Experts analyze the rally in gold and silver, citing central bank diversification and geopolitical shifts. While gold remains a key store of value, silver's parabolic rise and technical breakout suggest strong momentum and potential long-term outperformance. 5m 48s

Gold and silver hit record highs, Zelenskyy plans to meet Trump, and a $1.8B Powerball winner is found in Arkansas. Plus, Waymo pauses robotaxis in SF due to rain, and Snowflake is reportedly nearing a $1B deal to acquire AI startup Observe. 1m 25s

Jason Greer discusses "AI washing," where firms use AI as a cover for layoffs to satisfy shareholders. While sectors like insurance face heavy disruption, workers must focus on reskilling as automation replaces mid-tier roles and traditional coding jobs. 4m 40s

Jefferies analyst Randy Konik is bullish on Nike, citing CEO Elliott Hill’s insider expertise and Tim Cook’s $3M stock purchase. Konik expects a turnaround via improved product and distribution, noting Nike's strong footwear moat compared to competitors like Lululemon. 4m 20s

John Kolovos tells CNBC the S&P 500 could hit 7200 before a 15% correction next year. Citing midterm cycles and AI headwinds, he warns of volatility but remains bullish on precious metals, targeting $80-$85 for silver and $5,000-$7,000 for gold. 4m 21s

Katie Stockton forecasts a crude oil turnaround, targeting $68 for WTI with support at $55. As energy rotates into favor over tech, she identifies SLB, TRGP, Halliburton, and Exxon Mobil as top stocks to watch for upside momentum. 2m 59s

Komal Sri-Kumar warns of a turbulent 2026 as political pressure and a lack of Fed independence drive interest rate cuts. He notes the rally in gold and equities reflects a flight from currencies and inflation, as the US dollar loses its status as a primary safe haven. 5m 1s

Lance Wilkes of Bernstein analyzes the health insurance sector, noting record-low margins but potential for recovery through a traditional insurance cycle. He argues Trump's proposed 50-70% price cuts are unlikely without congressional reform to reduce coverage levels. 6m 27s

Michael Farr foresees a near-term market pullback but remains long-term bullish, citing economic strength. He highlights healthy market broadening into cyclicals and recommends healthcare stocks like Eli Lilly and Novo Nordisk, driven by the massive potential of GLP-1 drugs. 4m 51s

Michael Zakkour discusses retail resilience despite a short holiday season. Value retailers and electronics led, while the K-shaped economy persists with top earners driving 80% of spend. 2026 is expected to favor budget-conscious shopping and essential goods. 5m 36s

MicroStrategy is pivoting from Bitcoin buying to building a $2.2B cash reserve. With shares down 50% YTD, the firm faces removal from MSCI indexes in January, which could spark billions in outflows as it struggles to prove it’s an operating business rather than a fund. 1m 52s

Nvidia is striking a $20B deal to license tech and hire talent from AI chip firm Groq. This strategic move helps Nvidia develop more efficient chips and block rivals while bypassing regulatory scrutiny. Groq’s founder, a key architect of Google’s TPU, is also joining. 3m 5s

Oil prices face downward pressure from a massive supply surplus and record US production. Experts John Kilduff and Rob Thummel note that while oil prices may stay low through 2026, energy stocks remain attractive value plays due to capital discipline and strong dividends. 4m 0s

Oracle’s growth is tied to OpenAI's success. Analyst Brent Thill notes high capex and OpenAI's private status create risk, but its push into enterprise sales and top-tier hires signal long-term potential. Oracle's valuation reflects this "show me" phase of AI. 4m 32s

Piper Sandler’s Craig Johnson says the S&P 500 bull market and Santa Claus rally remain on track. He is bullish on copper and gold miners (GDX), citing significant upside. Biotech (XBI) is his top surprise trade for 2026, expected to gain momentum as interest rates decline. 3m 9s

Rocket Lab CFO Adam Spice highlights a record 2025 with 21 successful launches and confirms the Neutron rocket is on track for H1 2026. With a major SDA contract and expanding space systems business, the company is solidifying its position as a key global aerospace partner. 5m 54s

Saga Ventures’ Thomson Nguyen expects a major IPO surge in 2025-2026, led by giants like OpenAI and SpaceX. Despite potential valuation shifts, he notes we are still in the "early innings" of AI growth, moving toward a future of infrastructure and agentic commerce. 4m 55s

Scott Lincicome of the Cato Institute explains that while US tariffs haven't caused a recession, they've created a compliance "labyrinth." Since 2017, tariff regimes jumped from 3 to 17, with constant revisions making it a complex disaster for businesses to navigate. 4m 3s

Steve Westly highlights 2026 as pivotal for Tesla. Despite trailing Waymo in robotaxis, the booming energy division—growing 40% to $14B—is a key catalyst. To keep its record stock price, Tesla must prove it’s a tech and energy leader, not just a car company. 4m 21s

Storch Advisors CEO Gerald Storch predicts a strong 4-5% rise in holiday sales, citing real wage growth. He rejects "K-shaped" economy fears, noting broad spending. However, he remains bearish on home improvement as high interest rates delay big renovation projects. 3m 39s

Swan Bitcoin CEO Corey Klippsten predicts Bitcoin will top $125k in 2026, citing strong institutional adoption. He also notes that while some miners are shifting focus to AI, it won’t hurt the network since hash rate is a lagging indicator that follows price. 3m 21s

The domestic box office is nearing $9B this year, led by Avatar. Analyst Paul Dergarabedian predicts massive growth ahead with a slate including Avengers and Toy Story 5, as studios recommit to theatrical releases to engage audiences and leverage the communal cinema experience. 5m 11s

Thomas Hainlin of U.S. Bank sees a strong outlook as market growth broadens beyond tech into cyclicals. Key drivers include steady consumer spending and AI investment. Top picks for 2026 include non-agency mortgages and foreign equities in Europe and Asia. 3m 53s

Vance Howard of Howard Capital is bullish, targeting S&P 7,000 by year-end and 7,700+ in 2026. He cites strong profits, potential rate cuts, and record cash on the sidelines as drivers. He also favors Bitcoin ETFs (IBIT) over gold, seeing BTC as oversold. 4m 35s

AAA CEO Gene Boehm expects 122M+ holiday travelers, with 109M driving due to lower gas prices. AAA projects 860,000 roadside rescues and notes record air travel (8M+). Boehm urges drivers to "Move Over" for emergency workers' safety after 14 line-of-duty deaths this year. 4m 46s

Analysts discuss Intel's foundry transition, calling missed customer wins a "slight negative." While 18A yields remain a focus, a tough PC market and rising memory costs pose risks to 60% of Intel’s revenue. Progress remains a slow "baby step" process. 4m 26s

Analysts see Walmart as a tech-like "machine" with AI upside. Target is primed for margin recovery, while Costco faces shifting demographics. Tariffs remain a factor for footwear but are expected to stabilize through 2026. Walmart and Dick’s remain top retail picks. 4m 34s

Bill Nygren of Oakmark Funds expects 2026 to favor stocks "left behind" by the momentum of 2025. He highlights Salesforce as a value-driven AI play and remains positive on financials, noting that banks still offer attractive multiples compared to the broader S&P 500. 2m 47s

Brett Ryan of Deutsche Bank discusses a stable labor market with low hiring and firing. He predicts strong 2025 growth from tax refunds and AI investment, leaving the Fed split on whether to cut rates or wait to see if a tightening labor market keeps inflation above target. 4m 33s

C.J. Farley argues that corporate choices, not AI, drive job displacement. While AI mimics creativity, it currently lacks the soul to produce truly great art. The industry is split: some embrace AI-generated content, while others market "guaranteed human" work to protect value. 5m 24s

CFRA’s Sam Stovall tells CNBC the S&P 500 bull market remains resilient, backed by tech earnings. He targets 7400 by year-end 2026, expecting mid to high single-digit gains. He notes that while double-digit "four-peats" are rare, year-four bull markets often last six years. 4m 32s

CNBC's Deirdre Bosa shares her "ChatGPT Wrapped" to show how the AI tracks user habits. She argues that as chatbots become commodities, personalized memory is the key to "stickiness" and keeping users from switching to rivals like Gemini or Claude. 1m 36s