Morning Call

Golfers, fans, and sponsors are digesting the news that the PGA Tour is merging with Saudi-backed rival Liv Golf. Golf Magazine's Sean Zak explains the deal. Plus, China exports fell by 7.5% in May, far worse than economists were expecting. William Blair's Vivian Lin Thurston discusses the China recovery story. And, consumer staples are underperforming the broader markets despite strong earnings reports from several companies. Goldman Sachs' Jason English weighs in on the sector. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

CNBC’s Frank Holland sits with Cisco CEO Chuck Robbins to discuss the company’s AI push and launch of networking cloud. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Apple unveiled its Vision Pro AR/VR headset at the Worldwide Developer Conference yesterday. Big Technology's Alex Kantrowitz discusses the details. Plus, All State and State Farm are refusing to write new property insurance policies in California due to rising climate risk. KBW's Meyer Shields explains the impact on the sector. And, Sam Altman continues his world tour of promoting OpenAI and its popular ChatGPT tool. The Verge's James Vincent breaks down the latest. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The world's largest oil exporter, Saudi Arabia, will slash production by 1 million barrels per day starting next month. Kpler's Viktor Katona explains the impact on oil prices. Plus, tech continues to outperform the broader markets, with the Nasdaq notching its first 6-week win streak since 2020. Laffer Tengler Investments' Nancy Tengler and Arete Research's Rocco Strauss discuss the sector. And, split positioning within the markets shows just how fragile this year's rally may be. 248 Ventures' Lindsey Bell and CIC Wealth's Malcolm Ethridge weigh in on the trading week ahead. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today's jobs report is one of the final major economic data points ahead of the Federal Reserve's June policy decision. Grey Duck Outdoor Founder Rob Bossen describes the employment landscape in manufacturing. Plus, the retail sector is currently a case study in the haves and have-nots as key shopper segments pull back. Telsey Advisory Group's Dana Telsey discusses the situation. And, last month, the American Gaming Association reported an eighth straight record-breaking quarter in commercial gaming. Needham's Bernie McTernan weighs in on the summer gambling outlook. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The oil market is coming off a disastrous month, which WTI posting its worst performance since November 2021. Rystad Energy's Louise Dickson recaps the month. Plus, the House passed the bipartisan debt ceiling bill by a wide margin last night despite some strong opposition from far-right Republicans. Raymond James' Ed Mills discusses the next steps. And, with Memorial Day posting a record surge in air travel, what's ahead for the summer experiences landscape? D.A. Davidson's Tom White weighs in. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The bipartisan deal to raise the U.S. debt ceiling cleared a key hurdle last night and is now on its way to a full House vote later today. Stifel's Brian Gardner explains the latest. Plus, Cleveland Fed President Loretta Mester says she doesn't see any compelling reasons to pause interest rate hikes ahead of the central bank's next meeting. Milken Institute's William Lee discusses the outlook. And, is Taylor Swift's blowout Era's tour a sign for a strong live entertainment landscape this summer? Wolfe Research's Peter Supino weighs in. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President Biden and House Speaker McCarthy have reached an agreement to raise the government's borrowing limit and avoid a potential default. Renaissance Macro Research's Steve Pavlick discusses the deal. Plus, with the summer season kicking off, which sectors and stocks are set to benefit? Wedbush's Alicia Reese weighs in. And, heading into a new trading week, AI stocks are coming in hot on the back of significant momentum. Investopedia's Caleb Silver describes the most popular retail investing searches. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Retail is closing out another busy week of earnings as investors look for insight on the health of the consumer. Storch Advisors’ Gerald Storch and Refinitiv’s Jharrone Martis review the scorecard. Plus, multiple reports say the Biden Administration and House Speaker McCarthy’s office are closing in on a deal over the debt ceiling. Bipartisan Policy Center’s Rachel Snyder gives the latest. And, investors are pouring cash into money market funds as they look for safety in low risk assets. LPL Financial’s Quincy Krosby and G Squared Private Wealth’s Victoria Greene discuss the markets. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Another batch of retail earnings is out today as the focus on consumer spending continues. R5 Capital’s Scott Mushkin lays out his expectations. Plus, investors are feeling more anxious over the 11th hour nature of the debt ceiling talks, at least on the fixed income side. Silvercrest Asset Management’s Robert Teeter and BondBloxx’s Joanna Gallegos discuss the recent moves in yields. And, what’s in store for the trading day ahead? Evans May Wealth’s Lizzie Evans weighs in. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.