SOTS 2nd Hour: A Divided Fed - Where Things Stand, AI Cyber Threats, & LIVE: Ares CEO, Magnum Ice Cream CEO 12/10/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 10 December 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Sara Eisen, and Michael Santoli kicked off the hour with a debate on where the Fed stands when it comes to a possible rate cut this afternoon - before former Fed Vice Chair and current Wharton Professor Alan Blinder gave his take. Plus: hear a wide-ranging interview with Ares CEO Michael Arougheti, spanning markets to what he calls a strong outlook for M&A... Also in focus: the team checked in with the CEO of one company that just partnered with the Department of Defense to stop growing AI cyber threats - and got the latest from Washington as GOP members sound the alarm on Nvidia's China sales. And last in the hour: catch an interview with the CEO of Magnum Ice Cream, talking demand and growth ahead on the heels of a new listing at the New York Stock Exchange. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Wednesday morning, happy Fed Day.
0:02.0	Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Kintanilla, live from Post 9. As always, here at the New York Stock Exchange, David Faber has the morning off. It is Fed Day in America, and while most on Wall Street do expect a cut in rates today, the main focus will be on the statement and Chair Powell's press conference. We'll ask former Federal Reserve Vice Chair Alan Blinder what he's expecting this afternoon.
0:22.4	Plus, do not miss our exclusive interview with Aries Management, co-founder and CEO
0:26.6	Michael Araggetti from Goldman Sachs' Financial Services Conference, and AI expert and Sandbox
0:32.3	AQ CEO, Jack Hittery, will be with us as his company launches a partnership with the Defense
0:37.2	Department to fight against AI-driven cyber threats. Jack Hittery will be with us as his company launches a partnership with the Defense Department
0:37.7	to fight against AI-driven cyber threats.
0:41.7	Senior markets commentator Mike Santoli here to kick us off on a big market day, a big Fed day.
0:47.8	The key debate, I think, today inside the Fed is going to be around what's happening with the labor
0:52.9	market because we don't have all the data. It what's happening with the labor market. Because we don't have
0:55.6	all the data. It's incomplete because of the government shutdown where we're waiting really key
1:00.0	jobs reports. But we do have enough data to have a pretty robust debate about just how much
1:05.3	the labor market is softening. Remember, if the Fed thinks that the labor market is in danger,
1:10.4	that's probably why they're cutting and why they might cut some more. So here's the Fed thinks that the labor market is in danger, that's probably why they're
1:11.5	cutting and why they might cut some more. So here's the recent data where it stacks up, what they're
1:15.7	going to be looking at. On the weaker data points, the argument for cuts for softening, September's
1:22.3	4.4% unemployment rate. That was the highest level we saw in years. Not good. Also, yesterday we got the
1:27.8	quits rate for October. Carl, you mentioned this live. It was notable because it was 1.8%. Low quits rate
1:33.4	means people aren't confident that they're going to go out and get jobs. The ADP report, November,
1:38.6	ADP's taken on more significance as we haven't gotten the official jobs data. That had a negative
1:43.1	number on it. Negative 32,000.
1:45.6	On the other hand, you know, for those that want to hold rates, they can point to the job openings
	...

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