Morning Call

The busy week of employment data rolls on, with Initial Jobless Claims due today and the June Jobs Report due tomorrow. Daniel Zhao of Glassdoor gives his predictions for the report amid concerns of a slowing economy. Plus, since topping $122 a barrel in early June, WTI Crude has been in a steady decline, falling more than 17% to break below $100 this week. Ann Bluntzer of the TCU Energy Institute discusses the relief outlook for Americans at the gas pump. And, now that the Fed is looking to stay the course with aggressive rate hikes, is a recession imminent? Ralph Bassett of Aberdeen and Degas Wright of Decatur Capital Management weigh in. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

“Worldwide Exchange” delivers essential, actionable information and analysis for anyone who wants to be part of the global business conversation. Anchored by Brian Sullivan, the program will prepare CNBC’s worldwide audience with a smart take on overnight U.S. news and live international market action. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Bitcoin is gaining some ground today, hovering near $20K after falling below $19K at one point past year. Clara Medalie of Kaiko discusses the current state of crypto. Plus, today marks one year since Andy Jassy took over the top job at Amazon. Between the company reporting its slowest quarterly sales growth in 20 years to seeing one of its warehouses form the company’s first ever union, what does the next 12 months have in store? Rohit Kulkarni of MKM weighs in. And, markets are preparing to kick off the holiday-shortened trading week after starting the second half of 2022 off on a strong note. Kevin Simpson of Capital Wealth Planning and John Stoltzfus of Oppenheimer Asset Management tell us what to expect. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The once hot Buy Now, Pay Later space is facing a chill thanks to growing headwinds, with companies grappling with consumers becoming more selective with their spending due to inflation and rising borrowing costs. Zilch CEO Philip Belamant joins us to discuss why his company is defying this recent downtrend as it holds steady with a valuation of $2 billion. Plus, another area of the market that has been cut down to size is semiconductors, with AMD and Nvidia down more than 50% off their November 2021 highs. But despite Micron CEO Sanjay Mehrotra’s warning on a weak demand environment, analyst ratings on the sector remain as bullish as ever. Patrick Ho of Stifel Nicolaus gives his bull case. And, with the S&P 500 falling 20.6% in the first six months of this year, the biggest first-half decline since a 21.1% in 1970, where does Wall Street go from here? Delano Saporu of New Street Advisors and Joseph Fahmy of Zor Capital weigh in. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The vote by Spirit Airlines shareholders over a potential merger with Frontier is facing yet another delay. Former Airline CEO David Banmiller gives us his predictions for this deal, as well as for the future of airline consolidation. Plus OPEC and OPEC Plus are meeting today, with sources saying no big policy changes are expected. Louise Dickson of Rystad Energy breaks down the latest performance of oil prices. And, with markets preparing to close out its worst first half since 1970, how should Wall Street proceed? Peter Boockvar of Bleakley Financial Group, Phil Palumbo of Palumbo Wealth Management, and Amy Wu Silverman of RBC Capital Markets weigh in. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Don Rismiller of Strategas details how when the cost of gas and interest rates are both rising, the economy slows down. Plus, Sarah Lien of Eastspring Investments says China is a great investment destination again. And, Brian Sullivan reveals which companies have been spending the most on private jets for their top executives’ personal use. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Shares of Robinhood spiked into the close yesterday on a report that crypto exchange FTX was exploring how to possibly buy the brokerage app. Tracy Wang of CoinDesk joins us to discuss the state of the crypto market. Plus, Nike posted better than expected sales and profit for Q4 yesterday, thanks to demand for sneakers and sportswear. Aneesha Sherman of Bernstein dives into the results. And, stock futures are pointing to a Tuesday turnaround, with stocks still tracking for their worst start to a year since 1970. Cate Faddis of Grace Capital and Jon Najarian of MarketRebellion.com give their investing strategies. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The ongoing troubles surrounding air travel in the U.S. will potentially worsen during the 4th of July holiday weekend, with TSA screening nearly 2.5 million passengers this past Friday – the highest since just before the pandemic. Helane Becker of Cowen gives her thoughts on solutions to issues like staffing, delays, and cancellations for the summer. Plus, G-7 leaders are preparing a ban on imports of Russian gold as the G-7 Leaders’ Summit continues its second day today. Fred Kempe of Atlantic Council tells us what to expect. And, oil prices are holding steady today as investors brace for any moves against Russian oil and gas exports. Bart Melek of TD Securities discusses a possible price cap on crude exports. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Russian oil production is nearly back to pre-war and pre-sanction levels, according to Vortexa. So what does this mean for the U.S. energy supply? Energy strategist Clay Seigle weighs in. Plus, stocks are looking to add to Thursday’s gains on the back of Jay Powell’s testimony on Capitol Hill, where lawmakers pressed Powell on the central bank’s plan if the economy slows down without reducing inflation. Kiran Ganesh of UBS Global Wealth Management discusses the outlook for the markets. And, Jared Weisfeld of Jefferies and Malcolm Ethridge of CIC Wealth give us their stock picks as we close out the week. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Mortgage applications are dropping as rates continue to increase, with rates for a 30 year fixed mortgage now up nearly 80% in the last year. Scott Lawlor of Waypoint Residential joins us to discuss the risks of another housing crisis. Plus, Energy Secretary Jennifer Granholm will speak with seven oil and gas executives this morning about why they are not refining more gasoline or producing more oil. American Petroleum Institute CEO Mike Sommers breaks down what to expect. And, investors are looking ahead to Jay Powell’s second day of testimony after he said yesterday that the battle against inflation could raise rates high enough to trigger an economic downturn. But have U.S. stock market losses only just begun? Craig Johnson of Piper Sandler weighs in. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.