December 31, 2025 3h 8m 15s
2025 retail was defined by consumer resilience and value-seeking. Discount giants like Five Below soared, while American Eagle and Victoria’s Secret gained. Lululemon and Target fell due to missteps. Analysts remain selective for 2026, with Nike as a top pick. 3m 13s
2025 shows a divide in crypto proxy stocks. Miners pivoting to AI infrastructure are winners, while digital asset treasuries like MicroStrategy face steep declines due to dilution. Investors eye January as MSCI decides on reclassifying crypto-heavy balance sheets. 2m 22s
Analysts view 2026 as a year for market normalization. Key trends include heavy CapEx in AI infrastructure and using volatility to buy dips. Investors are advised to reallocate some equity wins into underperforming sectors like real estate and oil for long-term growth. 3m 56s
Apple's upcoming "AI mulligan" is a high-stakes effort to spark an iPhone supercycle. With Siri updates delayed to 2026, the $4T company must prove AI can drive hardware sales. Strong iPhone 17 demand shows current resilience, but investors await a true AI-driven breakthrough. 3m 59s
Apple’s 2026 outlook centers on AI. A major Siri update, potentially delayed until 2026, must be compelling enough to drive iPhone upgrades. Amid leadership shifts, the company is under pressure to prove its AI strategy can sustain growth and compete with rivals. 3m 24s
Applied Digital CEO Wes Cummins discusses spinning off the cloud unit to focus on data center development and avoid competing with hyperscaler clients. Demand remains robust as the company hits build milestones and secures power capacity for growth through 2026. 3m 21s
BMO’s Evan Seigerman sees a healthcare recovery ahead. Obesity remains a top category, with Eli Lilly favored over Novo Nordisk. Merck is upgraded on its strong pipeline, and more M&A is expected as big pharma seeks new assets to fill gaps and drive growth in 2026. 3m 31s
CNBC discusses the Fed's transition as Powell's term ends in May. Experts say new members may resist easing without proof of a productivity boom. Markets eye a 3% rate through 2025, while economists watch labor slack and housing inventory as key policy drivers. 5m 14s
CNBC’s final trades: Karen Finerman picks Amazon, noting its valuation relative to Walmart. Tim Seymour chooses Rivian, citing a bullish reversal. Guy Adami highlights Snap's upcoming AI potential but names Devon Energy (DVN) as his final trade. 1m 16s
Chinese tech giants have reportedly ordered over 2 million Nvidia H200 chips for next year, worth $54B. ByteDance alone plans a $14B spend. While this underscores China’s reliance on Nvidia for AI training, investors are cautious due to previous regulatory stops and starts. 1m 48s
Christopher Perkins of CoinFund forecasts a bullish 2026 for crypto, driven by institutional adoption and regulatory clarity. He predicts Bitcoin at $150K, Ethereum at $5K, and Solana at $200, highlighting tokenization and stablecoins as key drivers for the market. 3m 38s
Citi’s Drew Pettit expects the market rally to continue into 2026, driven by strong fundamentals. While high valuations pose a risk, he favors financials and "AI at a reasonable price" globally, while remaining cautious on consumer discretionary and staples. 4m 45s
Doug Clinton of Intelligent Alpha says the AI trade remains intact with high demand for Nvidia through 2026. He predicts 2025 will focus on distribution, as Google’s Gemini rivals OpenAI for dominance by integrating into daily user workflows and platforms. 4m 23s
Federal prosecutors unsealed "Operation Gatekeeper," a ring smuggling NVIDIA GPUs to China using front companies and fake labels. The case faces complications after President Trump proposed allowing H200 exports for a 25% fee, potentially undermining national security claims. 4m 51s
Former Fed Vice Chair Alan Blinder discusses internal dissent and the likelihood of more rate cuts once "data fog" clears. He warns that naming a new Fed chair early could create a "hydra-headed monster," causing market confusion while Jerome Powell remains in charge. 4m 4s
Glenmede’s Jason Pride expects 2026 economic growth fueled by fiscal stimulus and easing tariff headwinds. While positive after 2025's gains, he warns of inflation and an AI "gold rush" where overcrowding could eventually lead to disappointing returns on investment. 3m 32s
Guy Adami and Dan Nathan share their 2026 market outlook. Adami predicts early volatility and 10-year yields hitting 4.5% due to global debt. Nathan expects the equal-weight S&P to outperform as the AI trade shifts toward ROI and productivity gains in diverse sectors. 4m 45s
HousingWire’s Logan Mohtashami predicts modest home sales growth if mortgage rates stay near 6%. While rates won't drop much further without a weaker labor market, improved mortgage spreads and wage growth outpacing prices are providing a better backdrop for 2026 stability. 4m 13s
Investment experts join CNBC to discuss the market outlook. Brian Vendig notes a shift toward cyclicals, Brenda Vingiello suggests trimming at highs while watching AI adoption, and Warren Pies sets a bullish 7,850 S&P target driven by Fed easing and strong earnings growth. 5m 33s
Jamie Cox of Harris Financial Group argues we aren't in an AI bubble. Unlike the 90s, today's tech leaders have the earnings to back investments. He predicts upcoming IPOs will fuel growth, with the real value found in AI-driven productivity gains across many sectors. 3m 38s
Jim Lebenthal highlights On Holding as a top retail pick, noting that brand strength is vital for success. While the consumer remains resilient, Lebenthal views the stock as a "rent rather than own" play, planning to exit quickly if brand momentum shifts. 1m 2s
John Ryding argues rising unemployment reflects AI replacing entry-level hires rather than economic weakness. He warns that cutting interest rates is misguided, as it lowers the cost of capital for AI further, failing to address the need for cheaper human labor. 2m 41s
Kevin Simpson discusses the "Dogs of the Dow" strategy after its strong 2025 performance. He recommends an active approach, highlighting Amgen, Merck, J&J, Verizon, and Home Depot as top picks for 2026 while cautioning investors to be selective with the list. 4m 2s
Khan Academy CEO Sal Khan warns of an AI "job apocalypse" and proposes that companies using automation dedicate 1% of profits to retrain displaced workers. With massive layoffs expected across many sectors, he argues proactive reskilling is vital to prevent political turmoil. 2m 48s
Lo Toney highlights "inference economics" as the key to 2026 AI software profitability. While hardware dominated 2025, companies like Apple and Google are better positioned than Meta to handle ongoing costs, as workflow bottlenecks and monetization remain major challenges. 4m 59s
Long-time shareholder Ann Winblad tells CNBC that Berkshire Hathaway’s culture of patient, long-term investing will persist under Greg Abel. Buffett remains a "cultural anchor" as the firm uses its $300B+ cash pile to back companies with durable moats, like Google. 4m 5s
Mark Zandi says the economy is "bifurcated" and fragile. While AI and stock gains boosted 2025 growth, there's a sharp divide: tech and high-income earners are booming, but small businesses and manufacturing struggle. He warns this uneven growth may not be sustainable. 3m 11s
Meta is acquiring Singapore-based AI agent startup Manus for ~$2B to boost its agentic AI capabilities and ROI. Originally Chinese, Manus relocated to Singapore to avoid regulatory hurdles, allowing Zuckerberg to continue his strategy of buying growth and talent. 2m 14s
Meta is reportedly acquiring AI agent startup Manus for over $2B to boost its business tools and prove ROI on AI spending. Manus builds agents for tasks like research and web builds. The deal gives Meta a subscription revenue line to leverage across its 3B users. 1m 29s
Mizuho strategist Jared Holz predicts steady biotech M&A in 2026, matching 2025's pace of over 20 major deals. He highlights Structure Therapeutics as a key player in the GLP-1 space and suggests that easing drug pricing pressures could further boost Big Pharma's confidence. 2m 41s
Mohamed El-Erian warns AI is decoupling GDP growth from jobs, requiring an adoption policy. This complicates the Fed's dual mandate and strategic view on productivity. He notes a divided Fed committee will need a chair with strong economic expertise to avoid muddled policy. 3m 4s
NAR Chief Economist Lawrence Yun reports a turnaround in the housing market. Despite sluggish sales, falling mortgage rates and rising inventory signal improvement. With wage growth outpacing price hikes, Yun expects a meaningful recovery in home sales to begin in 2026. 2m 6s
NYSE traders continued the tradition of singing "Wait 'Till the Sun Shines Nellie" to honor the late Art Cashin. After a resilient 2025 with 52 record highs, experts discussed the future of AI and Bitcoin ETFs as they head into 2026. 5m 16s
Oil prices fell 20% this year amid record US production. Helima Croft warns of potential oversupply in 2025 from Guyana and Brazil, while tracking geopolitical risks in Russia and Venezuela. Suboptimal prices and shifting OPEC strategies remain key concerns for the market. 5m 48s
On CNBC's Halftime Report, the final trades are in: Jim Lebenthal likes Adobe's earnings resilience, Stephen Weiss sees value in Alibaba for the new year, and Joe Terranova picks Goldman Sachs. The team wraps up the show with New Year's wishes for a healthy 2026. 44s
On the final trading day of the year, CNBC hosts highlight a widespread global market rally. The MSCI World Index is set for its best return in six years, with major gains seen in the US, South Korea, Taiwan, Europe, Brazil, Mexico, and China. 1m 24s
OpenAI is setting records with average employee stock compensation of $1.5M. This aggressive strategy aims to win the AI talent war against rivals like Meta, though the massive spending raises questions about long-term financial sustainability and shareholder dilution. 1m 56s
OpenAI's stock compensation is roughly 34x the pre-IPO average of other major tech firms. Equity spend is projected at 46% of revenue to retain talent. With a potential 2026 IPO, OpenAI employees and San Francisco could see a massive wealth and tax windfall. 3m 0s
Patrick Fruzzetti of Rose Advisors expects Q1 volatility due to midterm elections and Fed rate uncertainty. He advises leaning into corrections and sees the market broadening beyond the "Mag 7," favoring healthcare and picking Agilent Technologies as a top value play. 3m 51s
Piper Sandler’s Craig Johnson predicts a 5% gain for the S&P 500 in 2026, targeting 7150. Expecting a "jump, slump, and pump" year due to midterm elections, he shifts his AI focus from chips to optical connectivity stocks like Ciena, Coherent, and Corning. 4m 8s
Porsche’s hand-drawn ad is winning praise for authenticity, contrasting with backlash against Coca-Cola’s AI content. Wharton’s Americus Reed explains that while AI is inevitable, brands must lean into human storytelling and craftsmanship to truly connect with consumers. 4m 4s
Prediction markets are seeing explosive growth, with sports contracts up over 1,000%. Piper Sandler’s Patrick Moley credits federal regulation for accessibility in restricted states, expecting these markets to become a retail trading staple, much like crypto’s evolution. 3m 56s
Prediction markets are the new retail trading battleground. Robinhood leads with record growth and sports integration, while Coinbase ramps up acquisitions to catch up. With weekly volumes at $2B, analysts see a $1T market by 2030 as DraftKings and FanDuel enter the space. 1m 48s
Private equity continuation funds are surging, set to reach 20% of exits in 2025. This rise highlights a lack of traditional liquidity as firms avoid selling at low valuations. While providing cash to investors, it raises questions about the future for mid-tier assets. 4m 27s
Rep. Ro Khanna calls for a nationwide fraud probe to support his billionaire wealth tax plan for California. Meanwhile, drugmakers plan to raise prices on over 350 medications in 2026, with hikes averaging 4% despite government pressure to lower costs. 1m 14s
Rick Santelli reports 2025’s final jobless claims fell to 199K, a multi-year low. Continuing claims are back below 1.9M. The 2-10 yield spread reached 68 bps, its widest in four years, as mixed Fed signals on inflation and future cuts drive a steepening yield curve. 2m 16s
Robinhood and Coinbase are competing to lead prediction markets, trading real-world events like elections and sports. Robinhood’s early entry drove record growth, while Coinbase is catching up through M&A. Regulatory shifts may further accelerate this fast-growing sector. 3m 33s
Roth Capital’s Rohit Kulkarni views 2026 tech spending as a "game of chicken." With market sentiment on a "razor’s edge," investors demand returns on massive AI CAPEX. He expects more cost discipline and layoffs if revenue doesn't accelerate to justify the high spend. 3m 16s
Ryan Detrick of Carson Group sees the global bull market continuing in 2026. While US valuations are stretched, he highlights opportunities in international markets and commodities. He recommends a diversified portfolio overweighting equities and underweighting bonds. 4m 9s
Suzanne Maloney explains that Iranian protests, sparked by economic woes, have evolved into demands for systemic change against the regime. She highlights the West's stake in supporting the Iranian people's quest for rights and a new leadership structure. 2m 45s