The Exchange

Updated: 04 Aug 2025 • 1520 episodes
www.cnbc.com

"The Exchange" on CNBC is a one-stop shop for the day's top business stories, along with breaking news and the must-see market movers heading into the back half of the trading day. This newsroom-based program also features lots of original reporting, in-depth conversations and showcases CNBC's award-winning investigative work.

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04 Aug 2025 • EN

The Exchange 8/4/25

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.

43 min
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Stocks under pressure after President Trump rejiggers ‘reciprocal’ tariffs on a slew of countries, including a near-immediate 35% tariff on Canada, and July’s jobs report comes in light. We dig into the data and how to position as uncertainty ramps back up.   

43 min
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Design software maker Figma is making its public debut on the NYSE, valued at about $50 billion. We speak with the market maker behind the opening and bring you the first trade. And as tech earnings power the S&P and Nasdaq to new record highs, we look ahead to the next big tech reports, including Apple and Amazon out

49 min
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The Federal Reserve the most divided its been in more than 30 years, with two governors expected to dissent in today’s decision amid President Trump’s repeated calls for Chair Powell to lower rates. Palo Alto poised to buy Cyberark. Plus, Meta’s push to create a new category of AI-powered personal assistants. 

43 min
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Four of the Mag 7 names report this week and we’ve got a pair trade ahead of earnings. Tesla signs a $16.5B chip deal with Samsung.  Plus, why health care stocks could stay under pressure for longer. 

43 min
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On the heels of President Trump’s tour of the Federal Reserve yesterday, the FOMC prepares to gather for their rate decision next week. Our market guest says the conditions are right for a cut, but the committee runs the risk of looking like they’re succumbing to pressure from the President. Plus, a number of companies

43 min
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