Regulatory Landscape & Policy - The executive order directs the Attorney General to expedite the process for marijuana reclassification from schedule one to schedule three, but it doesn't enact any new changes [13] - The reclassification process started in the last administration as a political issue [14] - The executive order does not legalize banking for the marijuana industry, which caused pot stocks to fall [14] - The reclassification will allow for tax breaks for the marijuana industry, which could increase advertising and promotion [15][16] Health & Societal Concerns - Today's marijuana is 10 to 30 times stronger than it once was, with some cases reaching 99% THC [4] - Increased THC levels are linked to psychosis, violence, reduction in IQ, heart failure, diabetes, and stroke [5] - Medical associations worldwide agree that marijuana consumption is not beneficial and is causing addiction [7] - 30% of medical marijuana users are addicted to marijuana [10] - Concerns exist regarding the impact of marijuana legalization on the workforce, including pilots, doctors, and bus drivers [10] Market & Investment - Investors were disappointed that the executive order didn't legalize banking, leading to a drop in pot stocks [14] - Some marijuana stocks increased due to potential tax breaks, but not as much as anticipated [15] - There is no momentum in Congress for federal legalization [26] - Some states are considering repealing marijuana sales legalization [12][26]

CONGRESS FROM OWNING OR TRADING INDIVIDUAL STOCKS. THEY'VE COMMITTED TO DO THAT. WE'LL SEE WHETHER THEY ACTUALLY DO.BECKY, QUICK. >> WE HAVE SOME BREAKING NEWS ON THE RACE FOR THE FED CHAIR JOB. OUR SENIOR ECONOMICS REPORTER, STEVE LIESMAN JOINS US WITH THE DETAILS.>> REALLY GOOD MORNING BECKY. SENIOR ADMINISTRATION OFFICIALS TELLING CNBC THAT FED GOVERNOR CHRIS WALLER HAD A, QUOTE, STRONG INTERVIEW WITH PRESIDENT TRUMP IN WHICH THE TWO DISCUSSED THE LABOR MARKET IN DEPTH AND HOW TO JUMPSTART JOB CREATION. ...

College Sports Valuations and Trends - College sports valuations are surging due to bigger media deals, expanded playoffs, and conference realignment [1] - The top 75 athletic programs are now worth a total of $512 billion, up 24% from 2024 [1][2] - The University of Texas at Austin is the most valuable athletic program, valued at almost $148 billion [2] - Increased media rights deals, such as the Big 12 doubling its agreement, are driving valuations [3] - The College Football Playoffs' new deal with ESPN will increase its value to $13 billion starting next year [4] Factors Influencing Valuation - Name, Image, and Likeness (NIL) rights and a pro sports business model are shaping the college landscape [1] - NIL money is becoming a significant factor and will be on the balance sheet starting next year [9] - Donor money, such as that used for stadium renovations, can cause year-to-year fluctuations in revenue [6][7] - Private equity is increasingly looking at college programs and conferences as investment opportunities [10][11] Concerns and Future Implications - There are concerns about the impact of professionalization on student athletes and less popular sports [12][17] - The increasing player movement and coach turnover reflect a shift towards a professional sports model [13] - Lockouts in sports like the WNBA could pose risks to valuations, especially with emerging competitors [19][21][22]

Financial Performance - FedEx's fiscal second quarter beat expectations, leading to a raise in guidance, but the entirety of the raise was a result of this beat [3] - Freight business margins declined year-over-year by 300 basis points [6] - FedEx took a $150 million charge [9] Operational Challenges and Strategies - FedEx faces costs associated with grounding MD11 planes [3] - Higher incentive compensation for employees is weighing on second-half earnings [4] - Industrial weakness is impacting FedEx's freight segment [4] - FedEx is preparing for a freight spin-off planned for June 2026, incurring costs related to hiring a salesforce and IT expenses [8] - Weak demand environment from a freight perspective, especially for heavy oversized goods, is impacting margins [9] - FedEx's US ground home delivery volumes are up 8%, and pricing is up 5% [10] - FedEx is winning business on its express side due to good pricing, revenue mix, and business wins [11] - FedEx is making progress on improving margins and driving efficiencies through network 20, integrating express and ground networks [12] Market and Industry Outlook - The transport sector has been rallying recently [14] - CH Robinson is seen as an AI play due to its technology-driven freight matching [15] - Restrictions on non-domiciled CDLs are pushing up freight rates [16] - The setup for 2026 is expected to be better for transports [16]

Good morning. So, you just lowered your price target after this earnings, but you kept an overweight rating. Explain the rationale there.Lowering the price target, but keeping the rating. >> Uh yeah. No, good morning and uh thanks for having me.Great to be here. Uh listen, quoting, you know, Elliot Hill himself, uh this is not a turnaround that's linear, you know, by any means. uh they never are, you know, especially in a competitive consumer space and especially in this athletic space uh which is an extrem ...

US-China Trade Relations & Geopolitics - The Chinese government's reaction to the TikTok deal has been muted, with state media quoting a professor stating the deal aligns with Chinese law, suggesting tacit approval [1][2] - The proposed TikTok deal, structured as a joint venture, may not include the algorithm, which is considered the most valuable asset, raising questions about its strategic significance [3][4] - China may be using the TikTok deal and soybean purchases as concessions to maintain a relationship with President Trump, potentially aiming to divide him from the broader US national security community [4][5][11][12][13] - The tariffs imposed by the US on China are expected to remain permanent, influencing the dynamics of trade negotiations and potentially prompting China to offer "gifts" to the US president [10] Technology Sector Impact - The Oracle shares are surging on the news [6] - The TikTok deal is viewed as a positive development for the technology sector, reinforcing the ongoing upgrade cycle and the importance of technology in modern life [7][8] - The agreement revives a trade that had soured for the last 10 days or so and it looks like we're back on track [8]

We got some news on Nike today. Uh Nike shares down sharply. Uh really on China weakness, also some soft guest guidance.Joining us right now is Kevin McCarthy. His Newberger Burman, a senior research analyst. The stock off about 10% right now.Kevin, uh you heard what we heard from Nike about all this. Do you say to yourself this is a dip worth buying. Do you say that there there's more to go.What what are your feelings here. >> Yeah, good morning, Andrew. Um, you know, I I think clearly the market is going ...

Market Trends & Investment Opportunities - The discussion revolves around the attractiveness of Japanese bond yields for investors, particularly in comparison to US Treasury yields [1][2] - The benchmark rate for Japan is at 75 basis points (0.75%), compared to the US rate of 350 to 375 basis points (3.50% to 3.75%), and the Japanese 10-year bond yield is around 2% versus the US 10-year bond yield over 4% [2] - A weaker dollar is considered beneficial for US companies, especially exporters of services, enhancing their competitiveness [4] - Central banks globally are competing against the dollar, partly driven by gold purchases [6] - US advantages include innovation, accountability, transparency, and governance, attracting private investors and corporations to US assets [6] - Global diversification of portfolios is returning, after a period of concentration in US assets [6] Potential Risks & Volatility - Concerns exist about potential rate cuts in the US leading to a weaker dollar, which could deter foreign investment and hedging activities [5] - Quadruple witching day, with $7 trillion in notional option exposure expiring, including $5 trillion tied to the S&P, raises concerns about market volatility [7] - Despite potential trepidation, the US market has demonstrated a remarkable ability to digest witching Fridays due to its liquidity and opportunities [8]

Welcome back to Squawkbox. OpenAI is reportedly looking to raise as much as a hundred billion dollars for its expansion plans, which could value the company as high as, you ready for this. 830 billion.So, we're getting close to the trillion dollar mark. The Wall Street Journal saying that the earliest fundraising round would be completed at the end of the first quarter of this coming year. Then, opening eye expected to draw in financing from sovereign wealth funds as well.Earlier in the week, the informatio ...

Wine Industry Trends - Tariffs on imported wine are increasing costs for importers, potentially leading to higher prices for consumers [1] - Sales of alcohol are down across the entire category, influenced by factors like changing consumer preferences (e g, cannabis consumption, GLP-1 medications), cost considerations, and a general trend towards reduced alcohol consumption [1] - A Gallup poll indicates that only 54% of Americans now drink alcohol, the lowest percentage in approximately 80 years [1] - The non-alcoholic beer category is experiencing faster growth than wine [1] - The non-alcoholic wine category is rapidly expanding, with numerous new products being introduced [1] Wine Market Dynamics - Champagne from Champagne, France, typically costs over $50, while alternatives like sparkling wine from the Lir Valley in France are available for around $20 [1] - Real estate prices in Napa and Sonoma remain high, contributing to the expense of wines from those regions [2] - In Sonoma County, 30% of the grapes went unpicked this year, indicating potential financial pressure on winemakers [2] Wine Quality and Affordability - Affordable wine options, such as a $24 red blend, can offer good quality and value [2] - High-priced wines, like an Italian wine costing $189 a bottle, may not always be noticeably superior in taste to more affordable options [2]