The Exchange CNBC

The market sees the first cut in September, but our economist says you don’t have to wait that long – it’s going to be July. We’ll ask what makes him so confident. Plus, no signs of an AI slowdown. Nvidia crushing it once again, with data center growth up more than 400% from last year. And that’s good news for this company. Nvidia and all the big tech giants are clients. The CEO joins us live ahead. And there are Zyn-fluencers and now there’s a Zyn rewards program. We look at the explosive growth of the tobacco-free nicotine pouches, how Philip Morris International is capitalizing on it, and how much upside our analyst sees for the stock because of it.

We didn’t get a recession, but the market’s behaving as though we just came out of one. That’s how our market guest sees it – and he sees opportunity because of it. He’s here to make his case and brings three names he likes from here. Plus, here comes Nvidia. Our trader is watching for a specific level, and she’s prepared to make a move. She’ll tell us what she expects that move to be today. And with Microsoft’s backing, Khan Academy is bringing its AI tutors to teachers across the country for free. Sal Kahn is here, fresh off the stage at Microsoft Build, to tell us how they’ll be using it, and why it will make a big difference in the classroom.

Microsoft’s developer conference is underway with CEO Satya Nadella giving the keynote speech right now. We’ll continue to bring you all the latest headlines from that event as we get them. Plus, the tech-heavy Nasdaq hanging near the flat line after hitting a record high in yesterday’s session. We’re on record close watch for both the Nasdaq and the S&P 500. The Dow meanwhile, is on pace for a second positive day in three. This comes as we’ve heard from five Fed officials so far today, all conveying the same message: the path to 2% will be longer than expected, and bumpy. The first cut is expected to come in September. Let’s see if that changes after our first and exclusive interview with Fed Governor Christopher Waller.

The consumer is doing just fine, even on the low-end. Two of our guests are making that point today. One of them says they’re taking cuts off the table until at least December, while the other says there’s even a case to be made to raises – not cut – this year. Both are here to explain and tell us how they’re positioning from here. Plus, the “Black Swan” is here to talk AI, Bitcoin, Middle East turmoil, and where he’s seeing the biggest risks. Nassim Taleb join us live to tell us how you can position to protect yourself – and even profit from it. And Wells Fargo says China’s rise to dominate the global EV market is not all bad news for U.S. auto stocks. We’ll reveal the one name that may even benefit from it.

Does the rally have room to run? Our market guest says yes, and for one specific reason. She’s here to make her case, and bring one name she’s especially bullish on. I’ll give you a hint – she buys her gas and her champagne there. Plus, OpenAI partnering with Reddit is just the latest example of AI companies racing to secure access to data. And they may be knocking on this company’s door too. We’ll bring you the name, and the man lending AI efforts there.

milestone moment. The Dow just hit 40,000 for the first time ever, but can the bulls keep the momentum going? Our market guest has concerns about the strength of the economy and the consumer. He’s here with what makes him worry, and what he’s buying against this backdrop. Plus, speaking of the consumer, one of our guests is hoping to attract a particular kind. We’ll tell you who, how, and why they’re on this year’s Disruptor 50 list. And speaking of disruption, is ChatGPT’s latest tech a killer or catalyst for language learning companies? The CEO of Duolingo isn’t worried, he’s welcoming it with open arms.