SOTS 10AM: Ray Dalio on AI, Ken Moelis Sees Trillions in Value Ahead, Why Microsoft Popped 10/28/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 28 October 2025

⏱️ 44 minutes

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Summary

Stocks traded at record highs as the Fed meeting gets underway and the AI boom rolls on. Famed investor Ray Dalio joins Sara Eisen at the FII Summit in Riyadh, Saudia Arabia, to talk about whether he sees a bubble in AI, and the potential similarities in the market to the late 1920s. Dealmaker Ken Moelis also joined from Riyadh, with a rosy outlook on the M&A market, saying we could be on the brink of a boom. Plus - the news that sent Microsoft back above 4 trillion dollars in market cap, and what drove the pops in UPS, Skyworks, and Wayfair. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintanay with David Faber here at Post 9 of the New York Stock Exchange, along with Sarah Eisen, who joins today from the Future Investment Initiative Summit in Riyadh, Saudi Arabia.
0:19.0	An amazing lineup of guests coming your way in the next couple of hours,
0:22.0	including Ken Mollis, Ray Dalio, snaps Evan Spiegel, and Circle CEO Jeremy Allaire.
0:27.7	Plus some details on this news sending Microsoft shares jumping this morning back above a $4 trillion in market cap.
0:34.3	First, though, some consumer confidence data crossing, and for that, we'll get to Rick Santelli.
0:38.3	Morning, Rick.
0:40.0	Morning, Carl, yes. A rarefied day where we're actually getting some data. Our October read on consumer confidence from the conference board.
0:47.9	Expecting a headline number, around 93 and a half, comes in stronger. 94.6.
0:53.6	94.6 would be the best since August when we're just shy of 98.
0:58.4	There is a positive revision in the rearview mirror from 94-2 to 95.6,
1:03.7	which means it isn't sequentially higher after you take the revision into account.
1:08.3	As for present situation, 129.3, much better than expected. That follows
1:14.3	125.4 that gets upgraded to 127.5. The current read at 129, also the best since August,
1:22.4	when we were a little bit over 132. And finally, what lies ahead? Expectations. 71.5. This is a little weaker. Last month
1:31.4	was 73.4, but it does get upgraded to 74.4. 71.5 would actually be the weakest going back to June
1:39.7	when it was just under 70. Also, some date out from the Richmond Fed. Their manufacturing index for October comes in a little less negative than expected at minus 4,
1:50.2	and their service side comes in at minus 1, not quite positive.
1:54.8	Minus 1 would be the strongest read since August when it was positive 6. As Carl mentioned earlier, 44 billion,
2:03.2	seven-year notes at 1 o'clock Eastern completing 183 billion in supplying. Guess what? Today
2:08.7	could be the 13th session in a row where the 10-year note closes somewhere between 395 and 403.
2:16.4	Carl, back to you.
2:18.4	Thanks, Rick. Rick Santelli, watching the markets for us as well. The S&P coming off its first
	...

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