Closing Bell

With Amazon reportedly pursuing the wireless service business, big tech is turning to broadening broadband services. As giants like Amazon and Apple invest in big satellite constellations, smaller players such as AST SpaceMobile stand to benefit. The AT&T-backed satellite company recently conducted the first-ever phone call from space to everyday mobile devices using its prototype satellite. Chairman and CEO Abel Avellan joins Morgan to discuss the recent milestone and what it means for the broader satellite industry. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com

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Are the bears suddenly sweating as stocks stay resilient? Greg Branch of Veritas Financial Group defends his market stance. Plus, EMJ’s Eric Jackson breaks down Tesla’s latest hot streak and the two things that he thinks could mean further gains for that name. And, Pippa Stevens explains what’s behind crude’s big move today.

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The S&P 500 and Nasdaq closed negative, near session lows. BofA Securities’ Jared Woodard and BD8 Capital’s Barbara Doran break down the market action as investors wait next week’s Fed decision. GameStop reported a Q1 loss and announced it was firing its CEO; Ryan Cohen was named executive chairman. Wolfspeed CEO Gregg Lowe discusses his company’s strong stock performance and why silicon carbide is key to its growth story. Affirm shares rallied on news of a partnership with Amazon Pay; MoffettNathanson analyst Eugene Simuni on why it doesn’t change the macro headwinds facing the industry. The WSJ reports Amazon is planning an ad tier for its Prime Video streaming service; the reporter behind the scoop Jessica Toonkel joins to discuss the broader implications for the streaming players. RBC Capital’s Helima Croft on the impact of the Saudi output cuts and where oil goes from here.

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Can tech’s incredible run last? Marko Kolanovic from JP Morgan gives his take. Plus, star venture capitalist Rick Heitzmann weighs in on AI and how it could impact the future of the workforce. And, Sofi CEO Anthony Noto breaks down how the student loan payment restart and how it could impact the company’s bottom line.

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Major averages closed higher today after yesterday’s weakness. Wells Fargo’s Scott Wren breaks down the market action. Coinbase shares tumbled 12% today after the SEC unveiled a lawsuit against the company; former SEC Chairman Jay Clayton weighs in on the action this week from the SEC against Coinbase and Binance. Sequoia announced it is splitting its firm into three: China-focused, India-focused and the rest of the world. KraneShares CIO Brendan Ahern discusses the current landscape of investing in China. Magic Leap CEO Peggy Johnson discusses her companies headset and its enterprise customer base, plus competing with Apple Vision Pro. Needham’s Laura Martin makes the case for why Apple should buy Disney. Doximity CEO Jeff Tangney talks digital platforms for physicians. 

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What does this new frontier mean for the future… and for investors? Brad Gerstner of Altimeter Capital gives his unique, expert take. Plus, a rare interview with AI pioneer Mustafa Suleyman – the co-founder of Deepmind – on the big risks of artificial intelligence. And, we hear from Sridhar Ramaswamy – Neeva co-founder and Snowflake SVP – developed what some are calling a “co-pilot for the enterprise software industry.” He weighs in on the future of AI and the company that he thinks is winning the AI arms race.

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Major averages closed lower after last week’s gains. Wells Fargo’s Chris Harvey breaks down the market action. Investors were keyed in on Apple today as the company unveiled its AR headset: Apple Vision Pro. The stock ended the day lower. Bank of America’s Wamsi Mohan on what the $3,500 product means for the stock while Epyllion CEO Matthew Ball talks the implications for the metaverse. The SEC announced it is suing Binance and CEO CZ; Global Digital Asset & Cryptocurrency Association CEO Gabriella Kusz and former SEC Senior Trial Counsel Howard Fischer discuss what it means for the ecosystem and if investors should worry about another FTX situation. Plus, Wedbush’s Michael Pachter on the video game angle of Apple’s announcements.  

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Will today’s event keep the momentum going for Apple shares? That is the question shareholders care about most. Shareholders Brenda Vingiello, Nicole Webb from Wealth Enahncement Group and Malcolm Etheridge from CIC Wealth give their expert takes. Plus, Baker Avenue Wealth Management’s King Lip breaks down the headset battle between Apple and Meta. And, senior markets commentator Mike Santoli weighs in on what he’s watching in the week ahead. 

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Major averages surged to end the week, leading all three to close positive for the week. 3Fourteen’s Warren Pies and UBS’ David Lefkowitz break down the rally and the markets are primed to hold this breakout. MongoDB surged 28% after posting strong numbers; CEO Dev Ittycheria joins to discuss the company’s quarter and its opportunity in AI. A report saying Amazon might enter the mobile service arena sent other provider stocks tumbling; former AT&T Mobility CEO Glenn Lurie joins to break down the future of the industry. Samsara CEO Sanjit Biswas talks what’s next for the Internet of Things company. Plus, 3M surging over 8% on reports of a possible PFAS settlement and Moor Insights & Strategy’s Patrick Moorhead on what suppliers might benefit from Apple’s new headset coming next week. 

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Have the market bulls and economic optimists earned back the benefit of the doubt? Or is this as good as it gets for now? NewEdge’s Cameron Dawson gives weighs in. Plus, we count you down to Apple’s Worldwide Developers Conference. Andrew Uerkwitz of Jefferies breaks down the key products and themes to watch from that big event. And, top analyst Simeon Siegel gives his take on Lululemon’s big move higher.

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