The Financial Exchange Show

0:10 - More on markets and consumer sentiment. Plus, will people become more used to high gas prices?4:50 - What else could go wrong for crypto?24:40 - JustEatTakeAway.com is still trying to acquire GrubHub.36:20 - Stack Roulette

0:10 - With the 2nd quarter coming to a close, the guys discuss markets and their worst first half performance since 1970. Plus, what phrase did Fed Chair Jerome Powell mention yesterday that gave the guys a chuckle?23:50 - The latest on OPEC and their oil production.36:30 - Why have I Bonds been receiving so much attention lately?

On "Ask Todd" today, Todd Lutsky of Cushing & Dolan discussed the best way to avoid estate planning blunders. Todd talked about how someone should never think about their estate as "too small" for an estate plan and how this can put assets at risk. He also took calls from listeners and previewed C&D's June guide, "Estate Planning Blunders to Avoid".

(1:35) - Chuck and Paul kickoff hour two talking about how soaring mortgage rates are cooling down home sales.(13:00) - Running through fast food and fast casual restaurants ranked according to customer satisfaction.(22:08) - Stack roulette.(32:49) - Paul LaMonica of CNNBusiness called into the show to talk about how the cooling of cryptocurrency is affecting Coinbase.

(3:36) - The show starts with a look at the consumer confidence index, which has dropped to a near-decade low.(14:20) - Discussing the extreme wait times that customers are having to deal with when trying to get in touch with airlines.(23:02) - Estate planning attorney Todd Lutsky of Cushing & Dolan joined the show for another edition of "Ask Todd".

(1:31) - Starting the second hour with a conversation about how high inflation is changing the spending habits of Americans.(12:32) - Greg McBride of Bankrate called into the show to talk about how Americans are feeling about their amount of emergency savings.(22:24) - Touching on how accounting giant Ernst Young admitted that its employees were cheating on an ethics exam.(33:32) - Mark Cestari, Chief Commerical Officer at Southern Airways Express, joined the show to talk about summer travel and the disruptions that have been happening across the country.

(1:33) - Paul and Brendan open Tuesday's show covering China, particularly how they're reducing quarantine time for citizens as well as how the G-7 summit will focus on the country.(12:07) - Discussing how bidding wars contributed to an overheated housing market, and now bidding wars may have the same effect on the rental market.(23:26) - Touching on how Uber and Lyft drivers are switching to Tesla's amid sky-high gas prices.(32:35) - Talking about Nike's disappointing earnings, which saw flat sales and a jump in inventory for the popular apparel brand.

Danielle DiMartino Booth, Founder & CEO of Quill Intelligence, joined the show to discuss current Fed policy especially as it pertains to inflation.

(2:15) - Starting hour two with a conversation about airline travel, which is near record-high levels according to TSA data as summer travel season begins.(12:36) - Corey Adams, Regional Vice President at Robert Half, called into the show to talk about a survey that was done regarding workers considering changing jobs.(24:41) - Discussing how many public pension funds are using borrowed money, which is especially risky at this time of economic uncertainty. (36:26) - Stack roulette.

(2:23) - The week begins with the guys talking about the markets' bounce-back week and whether or not they can keep the momentum going.(12:12) - Danielle DiMartino Booth, Founder & CEO of Quill Intelligence, joined the show to discuss current Fed policy especially as it pertains to inflation.(23:13) - Touching on how Russia has finally defaulted on foreign debt for the first time in a century.(31:47) - Car manufacturers such as Tesla, Ford, & GM are raising prices of EV's as demand and costs continue to grow.

(2:13) - Opening the second hour talking about Intel delaying the opening of its semiconductor plant in Ohio.(13:49) - Touching on the Biden Administration's decision to cancel $6 billion in fraudulent student debt.(25:03) - A conversation about how Amazon's Alexa may soon be able to imitate a deceased relative's voice.(31:31) - Paul LaMonica of CNNBusiness joined the show to talk about FedEx, which has been soaring the past month and a half.

(5:56) - The show opens with a discussion about the juxtaposition of volatile markets against mostly healthy economic data.(14:10) - Discussing how U.S. Banks have passed the Federal Reserve's "stress test."(22:31) - Weighing in on whether or not measures being taken to combat high gas prices are proving effective.(34:14) - Touching on how the FDA has ordered Juul to stop selling its e-cigarette products.

(6:08) - Chuck and Mike kickoff hour two with a conversation about the current tariffs on China, which the Biden administration is considering removing in an effort to fight inflation.(14:43) - Talking about Netflix and how the streaming giant is exploring an ad-supported tier with possible help from Google.(23:49) - Touching on Elon Musk referring to Tesla's new factories as "giant money furnaces".(35:07) - Stack roulette.

(0:59) - The guys open the show reviewing Fed Chair Jay Powell's testimony in front of congress and where he stands on inflation.(12:26) - Continuing to talk about inflation, specifically whether or not new policy can effectively combat higher costs.(23:00) - Discussing what parts of the world have the "bubbliest" housing markets.(31:56) - Weighing in on owning a home vs. renting a home. A new report shows that the cost of owning far exceeds the cost of renting.

On today's "Ask Todd", estate planning attorney Todd Lutsky dove into probate and how it's a common consequence of delaying or incorrect estate planning. Todd explained the best ways to avoid probate as well as what happens during the probate process. He also took listener calls and previewed Cushing & Dolan's guide for June, "Estate Planning Blunders to Avoid".

(1:14) - The second hour begins with a discussion about whether a likely suspension of the federal gas tax can bring some relief to consumers at the pump.(12:37) - Ted Rossman from Bankrate joined the show to talk about Americans working more hours for side gigs in order to make ends meet.(22:15) - Weighing in on the forced labor law that will soon take effect and how companies are preparing for it.(34:09) - Stack roulette.

(2:30) - Chuck and Brendan kickoff Wednesday's show with a conversation about oil prices, which have decreased 16% over the past two weeks, prices at the pump remain high.(13:57) - Discussing what exactly defines a recession and whether or not the U.S. is already in the midst of one.(23:02) - Estate planning attorney Todd Lutsky of Cushing & Dolan joined the show for another edition of "Ask Todd".

(1:29) - The second hour opens with a discussion about the housing market, which is continuing to show small but sure signs of a slowdown.(14:38) - Talking about the rise of online car sales and what it could mean for the future of car shopping.(24:02) - Touching on an Apple store in Maryland's decision to unionize, making it the first Apple store to do so.(34:09) - Stack roulette.

(0:58) - Paul and Brendan start the week breaking down markets amidst a strong rebound rally following the worst week for the S&P 500 in over two years.(13:12) - Discussing how cryptocurrency is finally staging a rally on the back of a major downturn across the crypto sector.(23:57) - Touching on JetBlue increasing its offer (over $33 per share) to purchase Spirit Airlines. A merger would create the fifth largest airline in the country.(34:03) - A conversation about small businesses and how they're having difficulty competing with larger companies for employees.

(1:59) - Hour two starts with a conversation about Elon Musk's potential purchase of Twitter, which remains in limbo.(14:32) - Weighing in on the Biden administration's response (or lack thereof) to rising fuel costs and how the President has been unable to convince oil producers to drill.(23:11) - Talking about the job market, which may be starting to undergo a change in leverage between workers and employers.(33:49) - Paul LaMonica of CNNBusiness called into the show to discuss Robinhood, which has lost most of its market value since its IPO and has undergone major layoffs.

(0:57) - Paul and Brendan open Thursday's show discussing the sell-off in markets caused by the Fed's announcement of a 75bps rate hike.(14:13) - Talking about how the 75bps rate hike impacts the average American's outstanding debt, specifically credit card debt.(23:53) - Discussing how recessions and bear markets have actually occurred more frequently than one might think throughout U.S. history.(35:06) - Touching on how banks are one sector of the economy that stand to benefit from market volatility.

0:10 - More on the Fed and May's retail sales results.13:45 - An in-depth discussion about cryptocurrency and its recent plummet.22:25 - U.S. home equity hits its highest level on record. What's the state of the current market landscape?35:05 - Stack roulette.

0:10 - A full preview of the Fed's significant interest rate decision.22:50 - Ask Todd

(2:32) - Hour two begins with an update on a bipartisan push for new government powers to block U.S. investment in China.(13:15) - A conversation about how crypto has been free-falling in a similar manner to equity markets, only the crypto downfall is a bit more complicated.(23:44) - Talking about whether or not the influx of stimulus into the economy over the last two years has been worth it as high inflation rages on.(33:26) - Stack roulette.

(1:46) - The guys start Tuesday's show looking at the current bear markets in historical context. What have past bear markets taught us in terms of recession expectations?(12:02) - Discussing the relationship between stocks and bond yields, which typically move inversely of one another, but there are always exceptions.(22:20) - Morgan Stanley CEO James Morgan sees odds of a recession at 50/50, and the guys weigh in on whether or not that sounds accurate to them.(33:30) - Corey Adams of Robert Half joined the show to talk about what workers can do in order to grapple with high inflation, including asking for a raise or other accomodations.

(4:02) - The second hour starts with a review of the market downturn as well as a look at a study that indicated the U.S. will enter into a recession next year.(14:23) - Talking about cashing out of markets when a bear market creeps in, and what approach investors take when dealing with this issue.(21:58) - Dan Stack, CEO of the DAV of Massachusetts, joined the show to discuss the DAV's mission and what Americans can do to support our heroic veterans.(32:14) - Stack roulette.

(0:58) - Mike and newcomer Marc Fandetti open the week weighing in on the current state of markets, which are closing in on bear territory after an ugly CPI number on Friday.(13:28) - Discussing the Fed's upcoming two-day meeting and what their next step is in combatting sustained inflation.(24:05) - Touching on how oil producers are ignoring President Biden's call for them to drill for more oil amid record-high prices at the pump.(33:51) - Taking a look at China, specifically how Shanghai has been slowly reopening after severe lockdowns caused by COVID-19.

(6:05) - The week's final hour opens with a conversation about how Facebook is rethinking its deals with news publications.(14:25) - Weighing in on the box office battle between the newest Jurassic World and Top Gun: Maverick which is still seeing stellar numbers.(23:10) - Covering the "pandemic pet boom" and how pet spending is holding up better than most other retail categories.(34:38) - Paul LaMonica of CNNBusiness joined the show to talk about the effect of Amazon's stock split as well as Facebook officially becoming Meta.

(0:58) - Chuck and Mike start Friday's show reviewing the CPI data for May, which revealed an 8.6% rise in inflation year-over-year and 1% monthly rise, setting a new 40-year high.(14:34) - Discussing which retailers have the most excess inventory and which can raise prices without angering customers.(25:14) - Touching on Docusign which is down nearly 25% today after disappointing earnings that included a $27.4 million loss.(32:50) - Talking about research from Yale that concluded global companies have suffered losses of more than $59 billion from their Russian operations.

(1:50) - Chuck and Mike kickoff hour two discussing how stocks are in limbo after coming up off lows from May.(15:31) - Taking a look at 401k's, specifically how much money the average American has in their retirement accounts.(22:46) - A conversation about workers leaving big tech startups and going to work for bigger, more well-known companies. (36:02) - Stack roulette.

(1:22) - Thursday's show starts with a conversation about how global oil prices can be brought under control at a time when the U.S. national average is nearly $5 per gallon.(11:47) - Weighing in on Tesla's decision to proceed with an online hiring event in China just a week after Elon Musk said the company was overstaffed. (27:06) - Discussing the SEC's proposed rule changes to stock-trading, and how these proposed changes are facing criticism on Wall Street.(33:54) - Touching on Apple's announcement that they will enter the buy now, pay later space by creating a subsidiary called Apple Financing, LLC.

On "Ask Todd" today, Todd Lutsky of Cushing & Dolan discussed how often someone should be reviewing an estate plan and updating it accordingly. Todd talked about how many issues regarding estate planning can be swept under the rug when other aspects of planning are of higher priority at the time. He also took calls from listeners and previewed C&D's June guide, "Estate Planning Blunders to Avoid".

(2:01) - The guys open the second hour with a discussion about the tech sector, specifically how its dominance in markets seems to be coming to an end.(12:27) - Ted Rossman of Bankrate joined the show to talk about Bankrate's recent survey regarding When and how much Americans tip for services.(22:03) - Touching on how Raytheon will be moving its headquarters from Waltham, MA to the Washington, D.C. area.(32:58) - Stack roulette.

(2:36) - Chuck and Brendan begin Wednesday's show talking about Treasury Secretary Janet Yellen's comments, which revealed she expects high inflation to stick around for a while.(13:28) - Touching on how Connecticut-based hedge fund Bridgewater is betting against U.S. and European corporate bonds amid fears of a slowdown.(23:04) - Estate planning attorney Todd Lutsky of Cushing & Dolan joined the show for another edition of "Ask Todd".

(1:37) - The guys begin the second hour weighing in on student loan forgiveness, on which President Biden is expected to make a decision later this summer.(14:09) - Talking about the UK's experimental four-day work week that started yesterday. Is this kind of work schedule going to be widely accepted soon?(22:56) - A conversation about how airfare will continue to rise so long as flight frequencies decrease and fuel costs increase.(33:41) - Stack roulette.

(1:19) - Paul and Brendan kickoff Tuesday's show with a conversation about Target, which has warned of lower profits this year due to an abundance of inventory.(13:29) - Touching on Janet Yellen's admission that she underestimated the persistency of inflation, and how she must now convince Congress that it can be brought under control.(23:55) - Talking about how commercial real estate sales are slowing across the country amid rising interest rates.(35:17) - Discussing how restaurants in Massachusetts are struggling with sky-high food costs as well as higher labor costs.

Tripp Mickle of The New York Times called into the show to tell us about Apple's new investment in digital headsets and augmented reality.

Heather Haddon of The Wall Street Journal joined the show to update us on Starbucks' CEO search after she met with interim CEO Howard Schultz.

(2:33) - The guys open hour two with a conversation about oil. Gas prices are at record highs, and the Biden administration has nothing but poor options to try and bring costs down.(10:46) - Tripp Mickle of The New York Times called into the show to tell us about Apple's new investment in digital headsets and augmented reality.(22:13) - Talking about Russia's attempt to sell stolen wheat from Ukraine to other countries who are desperate for grains.(34:22) - Stack roulette.

(2:44) - Chuck and Mike start the week with a discussion about JetBlue, which is raising the break-up fee for Spirit Airlines shareholders in case the proposed deal to acquire the discount airline is rejected.(12:14) - Touching on The Wall Street Journal's survey that found 83% of respondents described the economy as "not good".(23:20) - Talking about Elon Musk and how his potential acquisition of Twitter is looking less and less likely.(31:18) - Heather Haddon of The Wall Street Journal joined the show to update us on Starbucks' CEO search after she met with interim CEO Howard Schultz.

(5:23) - The final hour of the week begins with Chuck and Mike discussing how the Social Security Administration expects social security benefits to last until 2035.(13:20) - The guys talk about what the future could hold for Sheryl Sandberg now that she has stepped down from her post as COO of Meta.(25:21) - Touching on how Walmart will be opening high-tech fulfillment centers in an effort to deliver online orders more quickly.(32:20) - Paul LaMonica of CNNBusiness called into the show to talk about Chew, specifically how they reported an earnings beat for Q1.

(1:22) - Friday's show opens with a detailed look at the May jobs report, which saw the U.S. add 390k jobs with an unemployment rate of 3.6%.(13:09) - Touching on the report that Elon Musk plans to cut 10% of Tesla's workforce due to strong concerns he has about the economy.(26:15) - Discussing how Ford is planning to add 6,000 new union jobs in three midwestern states.(34:00) - A conversation about whether an economic cool-down would actually be beneficial to the economy in the long run.

(6:50) - The second hour starts with the guys weighing in on $5B+ of student loans being wiped out for Corinthian College students.(13:39) - Touching on the state of New York's decision to suspend the proposed gas tax for another six months.(22:26) - Talking about how for-sale homes in the U.S. rose for the first time since 2019. Is the housing market starting to loosen?(34:14) - Stack roulette.

(4:32) - Chuck and Mike open the show touching on JPMorgan CEO Jamie Dimon's remark that there"s a "hurricane" headed for the economy.(10:58) - Weighing in on Meta COO Sheryl Sandberg stepping down from her position. What does this mean going forward for the social media giant?(25:05) - Discussing IOPEC+'s announcement that they will be boosting oil production by 600k barrels a day over the next two months.(34:00) - A conversation about GM's plans to have an all-electric Buick lineup by 2030.

On this edition of "Ask Todd", estate planning attorney Todd Lutsky of Cushing & Dolan went over some of the most common and most severe mistakes people make when doing their estate planning. Todd discussed how these blunders, such as putting kids on a property deed as joint owners, can throw a wrench in the estate planning process and can lead to major difficulties down the road. He also took listener calls and previewed C&D's new guide for June, "Estate Planning Blunders to Avoid".

(2:05) - Chuck and Paul kickoff hour two with reaction to Elon Musk telling Tesla executives to return to working 40 hours in the office or find some place else to work.(13:18) - Corey Adams, regional President at Robert Haff, Corey joined the show to talk about the job market, hiring trends, and salary trends at companies.(22:11) - Discussing how grocery stores are pushing back against suppliers that are charging more for their products.(33:57) - Stack roulette.

(2:25) - Wednesday's show starts with a review of how major indices have performed year-to-date coming off their best week of 2022.(12:46) - Discussing what Russian oil producers are doing to counter the various sanctions that have been levied against them since the invasion of Ukraine. (23:27) - Estate planning attorney Todd Lutsky of Cushing & Dolan joined the show for another edition of "Ask Todd".

(1:00) - The second hour begins with a conversation about the shortage of workers for the upcoming summer, and how this issue may result in closures of camps, pools, and other venues.(13:59) - Weighing in on how dreadful commutes for workers are playing a major role keeping many offices empty.(23:02) - Touching on "Top Gun: Maverick"'s record-breaking debut in theaters over Memorial Day Weekend, which was a $156 million opening.(35:48) - Discussing the discrepancy between the rate at which electric vehicles are being produces and the rate at which charging stations are being produced.

(1:24) - Paul and Brendan open the week talking about how EU leaders have agreed to ban most Russian imports on oil.(13:10) - Discussing a New York Times study of 2,000 companies that increased sales faster than expenses in 2021, however that trend is slowing this year.(22:42) - Touching on how mortgage rates will be affected by the Fed's decision to stop buying mortgage-backed loans. Will it finally be a good time to buy a home soon?(34:39) - Ted Rossman of Bankrate joined the show to tell us about Bankrate's survey of how much Americans are spending on wedding-related expenses.

(1:07) - The final hour of the week opens with a conversation about housing, specifically how an uptick in inventory may affect the market as home prices remain sky-high.(13:32) - Weighing in on Delta "strategically decreasing" the amount of flights this summer, following other airlines such as JetBlue in cutting the amount of trips.(22:51) - Discussing the e-commerce startup Bolt, which has implemented a permanent four-day work week but is now laying off 250 of their 900+ employees.(33:30) - Stack roulette.