Putting Money to Work with Mario Gabelli, & Travel Trends with Booking Holdings 8/04/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 4 August 2023

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

After a blowout third quarter report, Booking Holdings CEO Glenn Fogel discusses travel trends for Americans and posits why US travelers are looking to Europe for summer vacations. Wrapping up the busiest week of corporate earnings, billionaire value investor Mario Gabelli explains which companies he’s watching for money-making opportunities. He discusses the Fitch downgrade of US debt, the future of linear TV, and deal-making appetite into 2024 and beyond. Plus, the Labor Department has released another report on US employment, and it’s pointing to a labor force that’s slowing down but staying solid. In this episode: Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Steve Liesman, @steveliesman Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.
0:09.0	It's jobs Friday, U.S. hiring has slowed, but the labor market is still solid.
0:15.0	C. NBC Steve Leisman on set today.
0:18.0	Over the course of the 20 years you've known me, I have reported on the potential impact of the jobs market of hurricanes and snowstorms.
0:24.0	Never a heat wave.
0:26.0	And billionaire value investor Mario Gabelli, where he's putting his money in this market.
0:31.9	We want to buy good companies with good management
0:34.7	or good valuations.
0:36.1	And to the degree the market comes down,
0:38.6	to the degree that the magnificent seven
0:40.5	are in the trillions, you know,
0:42.3	there are opportunities for small
0:43.8	companies. Plus the summer travel surge. Why post-COVID Americans are
0:49.8	ditching the states for European vacations and what it means for travel companies like
0:54.4	booking.com CEO Glenfogel. We're not completely recovered by Asia still coming
1:00.2	back still has a long way to go I think there and there's still a lot of
1:03.6	pent-up demand for travel. It's Friday August 4th 2023
1:08.8	Squack-Pod begins right now. Stand Becky by in three, two, one, queue please.
1:16.5	Good morning everybody.
1:17.5	Welcome to Squackbox here on CNBC.
1:19.5	We are live from the NASDAQ market site in Times Square.
	...

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