Transcript
Kelly Evans (0:02)
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Kelly Evans (1:00)
You're listening to the Exchange. Here's today's show. Thank you so much, Frank. A new threat emerges and this time it's not Iran. Welcome to the Exchange. I'm Kelly Evans. The major averages are somewhat mixed at this hour but on track for back to back winning week. The S and P actually having its best week in nearly a year. And The Nasdaq is up 5% since Monday and leading today. It's in the green while the Dow and S and P are slightly in the red. And one of the biggest outperformers today is core weave up 12% on its new deal with Anthropic on the flip side, service now dropping 9%. The UBS downgrading the stock saying the threat is bigger than originally thought. In fact, The IGV software ETF is down 7% since Monday. Anthropic's AI models are once again behind the sell off and even prompting an emergency meeting between Treasury Secretary Besant, Fed Chair Powell and major bank CEOs on how much of a threat it could pose to their cybersecurity practices. We'll get to all of that this hour. But we begin with the fallout from the Iran war on the economy. The oil shock sending inflation to its highest reading in two years while consumer sentiment hits a record low. My next guest says every measure of today's CPI report is moving in the wrong direction for the Fed. Diane Swonk is chief economist at kpmg. Also joining us is CNBC senior economics reporter Steve Liesman. Welcome to both of you. Diane, I'll start with you as you look through the report. I guess the the best you could say the glass half full view might be. Well, shouldn't this pass?
Diane Swonk (2:35)
