Squawk Pod

After the Nasdaq’s worst day in two years, Nasdaq CEO Adena Friedman discusses weathering market “adventures” and the slowly warming IPO market. If all the volatility has you stressed, CNBC’s Sharon Epperson has you covered with advice from financial therapists. Southwest Airlines is making its biggest change in company history. CNBC’s Phil LeBeau reports on the carrier’s new venture into assigned seats and extra legroom, after years of a consistent business strategy. Plus, Chipotle will re-coach staff on portion sizes after much online burrito bowl debate, and Change Research Lead Analyst Betsy App has new polling from voters re-energized by a changed Democratic ticket. Phil LeBeau - 10:54 Betsy App - 19:44 Adena Friedman - 27:29 Sharon Epperson - 35:00 In this episode: Sharon Epperson, @Sharon_Epperson Phil LeBeau, @Lebeaucarnews Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Katie Kramer,@Kramer_Katie

Israeli Prime Minister Benjamin Netanyahu is headed to Congress today. “The Genius of Israel” co-author Dan Senor discusses the geopolitics at play in the leader's US visit, as well as the politics of who’s attending the speech. In the aftermath of the largest IT outage in history, Rand senior analyst Jonathan Welburn is asking whether CrowdStrike–and other big tech firms–are too big to fail. Plus, Alphabet’s YouTube ad revenue came up short in the latest quarter, Visa reported a rare miss on revenues, Elon Musk is denying a report that he’d be donating $45m a month to former President Trump’s election campaign, and the Biden administration scored a tentative win in its efforts to ban non-competes. Dan Senor - 13:39 Jonathan Welburn - 25:53 In this episode: Dan Senor, @dansenor Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Cameron Costa, @CameronCostaNY

Vice President Kamala Harris appears to have won the backing of enough Democratic delegates for the nomination. PIMCO’s Head of US Public Policy Libby Cantrill explains what Harris’s endorsements mean for investors. Movie theater chain AMC has reached a debt refinancing deal, and CEO Adam Aron explains the deal, as well as the box office pipeline and keeping up the Taylor Swift Eras Tour momentum. Plus, Delta is still struggling to recover from the IT outage of last week, and Warner Bros. Discovery is making its pitch for NBA rights. Libby Cantrill 13:45 Adam Aron 24:28 In this episode: Adam Aron, @CEOAdam Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

After President Biden ended his re-election bid, he endorsed Vice President Kamala Harris. CNBC’s Eamon Javers reports on VP Harris’s spike in donations over the weekend, as well as the road toward the Democratic National Convention in August. While some Democrats have already endorsed VP Harris, former President Barack Obama and former Speaker Nancy Pelosi have not, which leaves the door open for other candidates vying for the nomination. Axios’s Mike Allen explains the other candidates who could come forward. Venture capitalist Vinod Khosla is an independent who hosted a Biden fundraiser in May; today, he’s calling for an open convention, but will support VP Harris if she wins the nomination. For Khosla, values are at stake this election, and more important than economic issues. Plus, Warren Buffett’s Berkshire Hathaway has sold $1.5B worth of Bank of America stock, and Delta is still recovering from the largest IT outage in history. Eamon Javers 2:07 Mike Allen 16:30 Vinod Khosla 29:57 In this episode: Vinod Khosla, @vkhosla Mike Allen, @mikeallen Eamon Javers, @eamonjavers Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

One of the largest IT outages in history started with a software update from cyber security firm Crowdstrike. Around the world, hospitals, businesses, news networks (including NBC) were affected when the update rolled out and crashed Microsoft Windows. CNBC’s Phil LeBeau reports from the airport in Wales, where many flights were grounded as airlines grappled with the outage. CNBC’s Steve Kovach explains how one company’s mistake can bring down millions of systems, and Wedbush analyst Dan Ives explains what’s next for the tech sector. The other headline this Friday: Donald Trump has accepted the Republican nomination for President for the third time. CNBC’s Eamon Javers reports from the Republican National Convention on the increasing pressure on President Biden, and pollster Frank Luntz explains the mixed reactions to Donald Trump’s 93 minute speech. Phil LeBeau 4:24 Eamon Javers 6:01 Steve Kovach 14:02 Dan Ives 20:13 Frank Luntz 29:07 In this episode: Dan Ives, @DivesTech Frank Luntz, @FrankLuntz Eamon Javers, @eamonjavers Phil LeBeau, @Lebeaucarnews Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

JD Vance made his first speech as Donald Trump’s VP pick at the Republican National Convention; CNBC’s Eamon Javers reports on Senator Vance’s reception at the RNC in Milwaukee, and former SEC Chair Jay Clayton explains how Vance’s new economic conservatism works–or doesn’t work–with the Republican preference for Reaganomics. Meanwhile, President Joe Biden has tested positive for Covid-19, but he’s still campaigning. Plus, ChatGPT scored a 98% on a medical exam that most first year residents score a 70% on. Former FDA Commissioner Dr. Scott Gottlieb says, some AI LLMs are good at providing differential diagnoses when presented with detailed lab results. Eamon Javers - 07:30 Jay Clayton - 16:56 Dr. Scott Gottlieb - 31:04 In this episode: Eamon Javers, @eamonjavers Scott Gottlieb, @ScottGottliebMD Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

Silicon Valley support is growing for Donald Trump; Marc Andreessen, Ben Horowitz, Peter Thiel, and Elon Musk have each endorsed the Republican nominee, and The Information founder Jessica Lessin says, it might be part of a more widespread shift in tech. Plus, former President Trump is floating ideas for possible cabinet members (like Jamie Dimon for Treasury Secretary), and he’s weighing the risk of dismissing Fed Chair Jay Powell before the end of Powell’s term. One of Powell’s former colleagues, former Boston Fed President Eric Rosengren, discusses the difference between both candidates’ rhetoric and policy, as well as what it means for monetary policy. Plus, President Biden is weighing a Supreme Court overhaul, Elon Musk is moving SpaceX HQ to Texas, and Spirit Airlines is under pressure. Jessica Lessin - 16:37 Eric Rosengren - 27:24 In this episode: Jessica Lessin, @Jessicalessin Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

Republican Nominee Donald Trump has named his pick for VP: Ohio Senator JD Vance. It’s a pivotal choice for the GOP, reports CNBC’s Eamon Javers, who is in Milwaukee for the Republican National Convention. Vance represents a new era for the conservative party, one of populist economics. Oren Cass, executive director of populist thinktank American Compass, is one of the movement’s leaders; Cass explains his conservative economics and the symbolism of JD Vance on the 2024 Republican ticket. Venture capitalist Bradley Tusk explains how populism plays out on social media, as well as the role of internet rhetoric in today’s political climate. Plus, Elon Musk has made an endorsement–but Teamsters has not. And Fed Chair Jay Powell is still aiming for a 2% inflation rate, but it’s complicated. Eamon Javers - 13:53 Oren Cass - 16:46 Bradley Tusk - 24:55 In this episode: Oren Cass, @oren_cass Eamon Javers, @eamonjavers Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

The GOP kicks off the Republican National Convention today in Milwaukee, days after the attempted assassination of former President Donald Trump. CNBC’s Eamon Javers reports on the security at the RNC and the latest information on the 20-year-old gunman. Republican Pennsylvania Senate Candidate David McCormick was in the front row of the Butler, PA campaign rally; he recounts the confused moments of the shooting and highlights America’s polarized political rhetoric as a factor in the violence. On both sides of the aisle, lawmakers are calling for civility and peace in a highly charged political environment. After President Biden’s Oval Office address, Biden Campaign co-chair Senator Chris Coons (D-Del.) condemns violence and hostile speech. Eamon Javers - 2:11 David McCormick - 13:29 Sen. Chris Coons - 29:51 In this episode: Eamon Javers, @eamonjavers David McCormick, @DaveMcCormickPA Chris Coons, @ChrisCoons Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Cameron Costa, @CameronCostaNY

If inflation numbers are improving, the Federal Reserve should be ready to cut interest rates–maybe. Wall Street Journal Chief Economics Correspondent Nick Timiraos, known as the ‘Fed whisperer,’ explains the Fed’s rate cut calculus, including inflation metrics and changes in the labor market. CNBC’s Megan Cassella reports on Capitol Hill’s reaction to President Biden’s rare, unscripted press conference, and EU regulators are taking aim at Elon Musk’s X platform. Plus, the Paris Olympics are just weeks away! Washington University in St. Louis Sports Business Director Patrick Rishe says Americans are ready to bet on everything, from gymnastics to basketball. Megan Cassella - 7:37 Nick Timiraos - 15:20 Patrick Rishe - 25:15 In this episode: Nick Timiraos, @NickTimiraos Megan Cassella, @mmcassella Melissa Lee, @MelissaLeeCNBC Joe Kernen, @JoeSquawk Katie Kramer,@Kramer_Katie

Inflation slowed in June! The Labor Department released its monthly consumer price index, a measure of costs of goods and services and a key metric for the Federal Reserve. Two economists, Wendy Edelberg of Brookings and Joe Lavorgna of SMBC Nikko Securities America, discuss what the better-than-expected numbers mean for the Fed’s next interest rate cut. Head of Bank of America Institute Liz Everett Krisberg shares Bank of America’s latest consumer checkpoint, which reveals a softening in credit card spending. Plus, it’s a pivotal week for Democrats, whether they’re supporting President Biden’s bid for a second term, or not. Consistent backer Senator John Fetterman (D-Pennsylvania) discusses division in his party, as well as the Biden 2024 campaign. Plus, Apple reached a deal with EU regulators on its mobile payments network, and North American demand for Pepsi products has slowed down. Sen. John Fetterman - 15:41 Liz Everett Krisberg - 28:25 Wendy Edelberg & Joe Lavorgna - 35:43 In this episode: Sen. John Fetterman, @SenFettermanPA Kelly Evans, @KellyCNBC Joe Kernen, @JoeSquawk Katie Kramer,@Kramer_Katie

In the AI arms race, some tech giants are teaming up: OpenAI is training on servers that Microsoft rents from Oracle, but Elon Musk is going at it alone. Founder and editor-in-chief of The Information Jessica Lessin explains the strange bedfellows in AI. CNBC’s Emily Wilkins reports on the latest fault lines in the Democratic Party, and Politico’s Politics Bureau Chief Jonathan Martin discusses the many variables deciding President Biden’s next step in the 2024 race. Plus, Amazon is out with its latest processor, venture capital firm Andreessen Horowitz is angling for more AI deals, and CNBC’s Sharon Epperson explains how retirement planning differs between Gen X, millennials, and Gen Z. Jonathan Martin - 22:16 Jessica Lessin - 30:47 In this episode: Jonathan Martin, @jmart Jessica Lessin, @Jessicalessin Emily Wilkins, @emrwilkins Melissa Lee, @MelissaLeeCNBC Joe Kernen, @JoeSquawk Katie Kramer,@Kramer_Katie

Senator Tim Scott (R-South Carolina) is in the running for Donald Trump’s VP; he discusses the 2024 Presidential race and the GOP’s strategy while Democrats and President Biden stay in mainstream headlines. In DC, CNBC’s Emily Wilkins reports on the ongoing debates within the Democratic Party. After Hurricane Beryl made landfall in Texas, millions were without power and three had died. Plus, Athletic Brewing is the top non-alcoholic beer in the country. Co-founder and CEO Bill Shufelt explains the cultural wave of sober-curious drinkers. Sen. Tim Scott 15:11 Bill Shufelt 27:15 In this episode: Emily Wilkins, @emrwilkins Tim Scott, @SenatorTimScott Melissa Lee, @MelissaLeeCNBC Joe Kernen, @JoeSquawk Katie Kramer,@Kramer_Katie

It’s a pivotal week for President Joe Biden, as calls for him to step aside mount within the Democratic Party. Biden says he will not back down, and Axios’s Mike Allen says, the lawmaker conversations behind closed doors are more drastic than those making the headlines. After two deadly crashes and multiple quality control issues, Boeing has agreed to plead guilty to a criminal fraud charge that makes the aerospace giant a felon. Paramount Global and Skydance will merge–unless Paramount can find another suitor in the next 45 days, and CNBC’s Steve Kovach explains the EU’s regulatory agenda for big tech. Plus, shares of Corning Glass are soaring. In a rare interview, CEO Wendell Weeks explains how a 173-year-old glass company went from making light bulbs to riding the AI and cloud computing wave. Mike Allen - 14:46 Wendell Weeks - 26:18 In this episode: Mike Allen, @mikeallen Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Katie Kramer,@Kramer_Katie

After a landslide win for the Labour Party in the UK, Sky News anchor and former CNBC anchor Wilfred Frost explains Keir Starmer’s support, his policies, and the future of the nation’s economy. Here in the US, Democrats are debating the results of the Presidential debate, including whether President Biden should step aside. CNBC’s Megan Cassella reports on the high stakes for President Biden’s TV interview on Friday, and author and professor Adam Grant explains the psychology at play, both for Biden and for the Democratic Party. Friday marks a deadline for Boeing to either plead guilty or go to trial against the Department of Justice over the deadly crashes of 2018 and 2019 and the quality mishaps in subsequent years. Former United Airlines CEO Oscar Munoz considers the costs of each decision, as well as the state of the travel industry at large. Plus, the June jobs report is out–and it’s a set of conflicting labor metrics to inform the Federal Reserve’s next policy decision. Wilfred Frost - 2:24 Megan Cassella -13:58 Adam Grant - 17:50 Oscar Munoz 27:31 In this episode: Wilfred Frost, @WilfredFrost Adam Grant, @AdamMGrant Megan Cassella, @mmcassella Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

Ahead of the July 4th holiday, Kayak CEO Steve Hafner says this summer is a good time to fly, as demand has not kept up with flight supply. As America celebrates its 248th year of independence, CNBC’s Jon Fortt considers the state of the American Dream for this generation. Plus, the week’s top headlines in business and politics: Paramount’s hunt for a partner, Eli Lilly’s big Alzheimer’s drug approval, and President Biden’s support among Democrats. Happy 4th! Megan Cassella 6:26 Phil Lebeau - 15:32 Steve Hafner - 20:12 Jon Fortt - 24:42 In this episode: Megan Cassella, @mmcassella Jon Fortt, @jonfortt Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

The Supreme Court has ruled that former President Donald Trump is immune from criminal prosecution for official acts as president, sparking a debate about Presidential immunity and accountability. The Anti-Defamation League has sued Iran, Syria, and North Korea, aiming to hold them accountable for supporting Hamas in its October 7th attacks against Israel. CEO and National Director Jonathan Greenblatt explains why he’s seeking financial compensation for over 125 plaintiffs. The Department of Energy is releasing 1 million barrels of gasoline to lower pump prices before the July 4th holiday. And ahead of that holiday, author and immersive journalist A.J. Jacobs wrote “The Year of Living Constitutionally” about his year living as closely as possible to the Constitution’s guidelines. He explains what he learned using a quill pen and adhering to 18th century norms for a year. Jonathan Greenblatt - 15:42 A.J. Jacobs - 23:35 In this episode: Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

In the wake of the first Presidential debate, President Biden’s campaign is fundraising and rallying support despite a disappointing performance. Andrew Ross Sorkin, CNBC’s Megan Cassella, and Axios correspondent Alex Thompson share their respective reporting from different sources across the Democratic party. The Supreme Court has overturned a 1984 decision called ‘Chevron,’ which set a precedent for lower courts to defer to federal agencies when interpreting ambiguities in laws passed by Congress. Former FDA Commissioner Dr. Scott Gottlieb explains what work the FDA has done under Chevron, and he outlines the challenges that lie ahead, after the new ruling. Plus, the summer box office is ‘Inside Out’ and heating up, and so are politics in France. Megan Cassella - 13:15 Alex Thompson - 15:56 Dr. Scott Gottlieb - 28:35 In this episode: Megan Cassella, @mmcassella Dr. Scott Gottlieb, @ScottGottliebMD Alex Thompson, @AlexThomp Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Katie Kramer, @Kramer_Katie

America–and the Squawk team–is digesting the CNN Presidential Debate. CNBC’s Eamon Javers reports on the respective performances of Presidents Joe Biden and Donald Trump, including Democrats’ concerns about President Biden’s stamina. Investor and briefly the Communications Director for President Trump Anthony Scaramucci digests the debate, the future of the Democratic ticket, and what it all means for investors. In Colorado, Andrew Ross Sorkin reports on the debate reaction at the Aspen Ideas Festival. He shares comments from legendary entrepreneur and venture capitalist, early Facebook investor, and former GOP donor Peter Thiel. Thiel explains his take on social media, China’s plans for Taiwan, and he makes a surprising call on bitcoin. Eamon Javers - 2:15 Anthony Scaramucci - 15:05 Peter Thiel - 27:48 In this episode: Peter Thiel, @peterthiel Anthony Scaramucci, @Scaramucci Eamon Javers, @EamonJavers Becky Quick,@BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

In a rare family interview, former Mylan CEO Heather Manchin and her father Senator Joe Manchin (I-West Virginia) discuss America’s future ahead of the first Presidential debate. The Senator shares his hopes for U.S. leadership, and both discuss their Americans Together effort to back centrist politicians. One of AI’s leading innovators is Mustafa Suleyman; years after co-founding DeepMind, Suleyman is CEO of Microsoft AI, and while at this year’s Aspen Ideas Festival with Andrew Ross Sorkin, he shares his perspective on the “AI arms race” and his vision for artificial intelligence. Plus, Walgreens stock plunged after reporting disappointing quarterly results and announcing store closures. Mustafa Suleyman - 14:57 Heather and Joe Manchin - 30:21 In this episode: Mustafa Suleyman, @mustafasuleyman Joe Manchin, @Sen_JoeManchin Melissa Lee, @MelissaLeeCNBC Joe Kernen, @JoeSquawk Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie