Squawk Pod: 5 Things to Know Before the Opening Bell – November 19, 2025

Episode Overview

This episode of CNBC’s Squawk Pod features co-host Joe Kernen highlighting the five most important news items for investors and business watchers ahead of the market open on November 19, 2025. The rapid-fire update previews major stories—from a crucial earnings report to Congressional action and an art world record—along with candid discussion among the hosts. Packed with analysis and quick wit, the segment sets the tone for the trading day.

Key Discussion Points & Insights

1. Nvidia’s Earnings on Deck

• [01:08] Joe Kernen calls attention to the anticipated, market-moving third quarter results from Nvidia, describing the company as the “AI Bellwether.”
  • Analysis: Nvidia’s performance is a harbinger for the AI sector and broader tech market.

2. Congress and Epstein Records

• [01:19] Congress is sending legislation to President Trump that will require the Justice Department to release all records related to Jeffrey Epstein.
• Trump has said he will sign the bill.
  • Insight: The story signals ongoing public and political pressure for transparency in high-profile criminal cases.

3. Department of Education Reorganization

• [01:38] The Trump administration continues its efforts to shut down the Department of Education, with plans to delegate its “biggest grant programs to other federal agencies.”
  • Takeaway: This reflects a significant policy shift with potential impacts on federal education funding and administration.

4. Air Traffic Controller Pay During Shutdowns

• [01:53] The head of an airline trade group is set to address Senators, advocating for air traffic controllers to be paid during any future government shutdowns.
  • Analysis: This debate touches ongoing stability and safety concerns in the aviation sector, especially during federal disruptions.

5. Art World Record: Klimt Sells for $236 Million

• [02:13] Discussion shifts to a historic art auction:
  • A Gustav Klimt portrait has sold for more than $236 million at Sotheby’s, setting the record as the most expensive modern work of art ever auctioned.
• [02:35] Kernen and Sorkin muse about art valuation, taste, and what draws certain collectors, with Kernen dryly remarking on the perceived worth of abstract art versus figurative works.

Notable Quotes & Memorable Moments

• On Art Value and Taste:
  • Joe Kernen:
    • “That is one beautiful piece of art, a record in the art world. This is a Klimt, a Gustav, A Klimt portrait sold for more than $236 million. It’s a record at Sotheby’s. It makes the painting the most expensive modern work of art ever sold at auction.” [02:17]
  • “You might not be able to tell it’s worth that much, Sorkin, but you put that in a great place, in a great room, and it probably almost feels like it’s worth that.” [02:25]
  • “You like the one with the line, the yellow up here and then a line here and then red on the bottom. Yeah, because he killed himself. … Most great artists are [troubled].” [02:48]
    • Memorable for their casual skepticism and wry humor about the subjectivity of art markets.

Timestamps for Important Segments

• [01:02] — Introduction and summary of five main news items
• [01:08] — Nvidia earnings preview
• [01:19] — Congressional action on Epstein documents
• [01:38] — Department of Education reorganization
• [01:53] — Airline trade group on air traffic controllers
• [02:13] — Klimt painting shatters art auction record
• [02:35] — On judging art and value, Kernen vs Sorkin banter

Tone and Style

• The tone is brisk, informed, and occasionally tongue-in-cheek, especially during discussions about art and market psychology.
• Joe Kernen leads with directness and occasional sardonic asides; interplay with Andrew Ross Sorkin suggests a mix of deep-dive expertise and accessible banter.

Summary

Today’s Squawk Pod gives listeners a streetwise, sharp look at the headlines likely to shape trading for the day: major earnings in tech, government transparency pushes, federal restructuring, labor stability in aviation, and the shockwaves of a record art sale. Not only does the episode outline the “what,” it gives context for “why it matters”—all with the unscripted humor and skepticism that keep Squawk Box fans tuning in.