CEO Confidence, The Rally’s Longevity, & Elon Musk’s Hot (and Unpopular) Take 10/4/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 4 October 2022

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

After a bright start to the fourth quarter, Joe, Becky, and Andrew consider what’s driving the rally, whether it will last, and what the Fed might do in response. In KPMG’s new CEO survey, almost all 400 leaders included, the vast majority of them (91%) are expecting a recession in the next year, but even more of them (93%) are confident in the growth prospects for the U.S. economy. KPMG Chair and CEO Paul Knopp discusses the survey findings, including the biggest concerns weighing on the c-suite, and the biggest opportunities that executives envision on the horizon. CNBC’s Diana Olick reports on the hybrid work model’s impact on urban office space, just as Meta announced layoffs and an office closure in New York. Plus, Theranos founder Elizabeth Holmes is getting another hearing and Elon Musk is in hot water on Twitter. In this episode: Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Diana Olick @DianaOlick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:02.6	Hi, I'm C. M.C. producer Cameron Costa.
0:07.3	Today on Squack Pod, a strong start to the fourth quarter,
0:11.5	but what's driving our intermittent rallies?
0:14.5	And will any of them last?
0:16.2	The fear is making things better in a very perverse way.
0:20.8	You're excited about a Fed pivot you shouldn't be.
0:23.0	And a CEO survey, KPMG has the scoop on the C-suites biggest concerns.
0:30.0	The CEOs think that in large part a recession is coming almost unanimously.
0:34.8	But it's not all bad news.
0:36.8	KPMG's own CEO Paul Knop.
0:39.4	Given all the economic uncertainty, the continuing confidence of CEOs and the prospects for growth over the next three years
0:46.8	is a little surprising. Those stories plus an Elon Musk Twitter Poll gone wrong.
0:52.8	There are no's founder Elizabeth Holmes gets a new hearing,
0:56.1	and office real estate is already suffering a hit,
0:59.3	so we might as well go in less, right?
1:02.6	We want Monday off or Friday off.
1:04.3	Friday.
1:05.3	Friday.
1:06.3	It's Tuesday, October 4, 2022.
1:09.3	And Squawkpad begins right now.
1:11.4	Stand back you by in three, two, one, fuel break.
	...

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