Squawk on the Street SOTS 2nd Hour: Volatility Abound, 'AI-Proof' Software Stocks, & The Warner Bros. Discovery Saga 2/17/26
17 snips
Feb 17, 2026 
Mark Fields, former Ford CEO, weighs in on possible Chinese joint ventures and EV strategy. Mohamed El-Erian, Allianz chief economic adviser, breaks down jobless growth, rates outlook, and how to pick software names amid AI-driven volatility. They also touch on media deal drama and AI-proofing software portfolios.
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AI: Augmentation Versus Displacement
- AI's promise lies more in labor augmentation than pure cost-cutting automation.
- Without strong diffusion policy, AI may drive jobless growth as firms focus on cost minimization.
10-Year Yields May Move Higher
- Current 10-year yield levels are hard to justify given strong real GDP and other fundamentals.
- El-Erian expects yields to drift higher toward 4.5% and warns of potential policy talk on mortgage affordability.
Warner Bros. Discovery Enters Seven-Day Talks
- Warner Bros. Discovery is in a seven-day waiver window to engage with Paramount after Netflix granted talks.
- Key board concerns include Paramount's LBO structure and large debt requirement that could threaten deal certainty.