SOTS 10AM: The Bull Case for Stocks Into Year-End, Why AI is Helping Avoid a Recession, Ares CEO on Alternatives 11/3/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 3 November 2025

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

A mixed session as the major averages kicked off a seasonally strong month. Cantor’s Eric Johnston makes the case for a rally in stocks, bonds, and bitcoin into year-end. Meantime Mark Zandi from Moody’s on why he says the US would be in a recession if it weren’t for the AI trade. Ares CEO Michael Arougheti joins right after his earnings call to break down what drove a strong quarter for the alternative asset manager and his outlook for deals. Plus the news moving Beyond Meat and Palantir, and details behind the mega-deal between Kimberly-Clark and Kenvue.

Transcript

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0:00.0	Good Monday morning. Welcome to Squawk on the Street. I'm Sarah Eisen here with
0:03.7	Curl Cantendia and David Faber. We are live at post 9 of the New York Stock Exchange.
0:07.5	Coming up this hour, Ares Management CEO, Michael Araggetti joins us on the back of solid
0:12.4	earnings, which saw the alternative investment managers, AUN, Asset Center Management,
0:16.5	rise 28% from last year, sitting at more than half a trillion dollars.
0:26.3	Plus, a major acquisition in the consumer space, Kimberly Clark says it's buying the Tylenol maker Kenview in a roughly $40 billion agreement.
0:29.8	We've got the latest on that blockbuster deal.
0:32.2	And Canter Fitzgerald's chief strategist will join us to make the case for a rally in bonds,
0:36.8	Bitcoin, and stocks.
0:38.5	All into your end and why he says gold surge could be over.
0:42.7	First, though, getting some ISM manufacturing numbers.
0:45.2	Let's get back to Rick Santelli.
0:46.6	Hi again, Rick.
0:48.0	Hi, Carl.
0:49.0	Indeed.
0:49.3	These are October Reed for ISM for the manufacturing side.
0:53.2	There is no mid-month read. On the headline manufacturing,
0:56.3	expecting a number close, but below 50, 49 and change ends up coming in light. 48.7. That
1:02.9	equals where we were in August to find a lower number. You're going to July. We haven't had a
1:07.8	positive number there since the first couple months of the year, January and February, meaning over 50.
1:13.3	If you look at prices paid, this is good news.
1:15.8	It comes in light, but light in this instance is a positive.
	...

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