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CNBC
17-06-2025
- Business
- CNBC
Josh Brown says AI story and US consumer are the only two things that matter to the markets
Josh Brown, CEO of Ritholtz Wealth Management, said Tuesday the stock market is being dictated by two factors — the artificial intelligence investing theme and the strength of the U.S. consumer — and both are in solid place right now. "If you understand that the AI story and the U.S. consumer are the only things that matter, you could stop wasting your time reading a lot of other data and focusing on a lot of other reports," Brown said on CNBC's " Halftime Report ." His comment came after data showed consumer spending retreated more than expected in May. Sales dipped 0.9% on the month, worse than the Dow Jones forecast for a 0.6% fall. Still, Brown believes the U.S. consumer, which he thinks is the most important engine of global growth, remains on solid footing despite the weak data. .SPX YTD mountain S & P 500 "The consumer is fine and the 'Mag 7' AI theme is intact. If I told you nothing else, that would be enough to understand why we're on the verge of a new record high," Brown said. The S & P 500 has fully made back the losses during April's tariff shock and is up about 2% on the year. The equity benchmark is now only 2.4% below its record high reached in February. Investors are also waiting for the Federal Reserve's policy decision Wednesday. The central bank is largely expected to hold rates steady. DISCLOSURES: All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
CNBC
06-06-2025
- Automotive
- CNBC
Josh Brown says Tesla investor base doesn't care about Musk-Trump feud: 'I wouldn't bet against it'
Ritholtz Wealth Management CEO Josh Brown said Tesla investors will look past the online feud between Elon Musk and President Donald Trump that led to a sell-off on Thursday. Musk, the CEO of Tesla and a key supporter of Trump during his election, exchanged barbs with the president online on Thursday — a shocking turn given their previous allegiance. Shares of the electric vehicle maker tumbled more than 14% on Thursday, but gained more than 5% in midday trading on Friday. "The drama on Twitter is hilarious. Of course, everyone's having a great time," Brown said on CNBC's "Halftime Report," using the former name for social media platform X. "But I think the real story here is the investor base in Tesla literally doesn't care about anything." TSLA 5D mountain Tesla, 5-day Brown pointed out that Tesla is losing market share in most key areas. However, he said investors have decided to think of the company as a robot and automation name with some artificial intelligence work rather than an electric vehicle maker. Investors think "the car sales are only important insofar as they get us to the robotaxi, which is the next trillion-dollar idea," Brown said. "I don't believe that, but that's what the market believes." Brown called the name a "nothing-matters stock," noting that it trades at 120-times earnings. He said investors may use Thursday's sell-off as a chance to buy on a dip. Shares are now down more than 25% in 2025. "It's just incredible how faithful this shareholder base is," Brown said. "I wouldn't bet against it." All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
CNBC
29-05-2025
- Business
- CNBC
Josh Brown says he's not sure if Nike can ever turn it around
Household brand Nike is not setting itself up for a successful turnaround, according to Josh Brown, CEO of Ritholtz Wealth Management and CNBC PRO contributor . The widely followed investor believes that the iconic footwear brand isn't keeping up with the fierce competition as its celebrity spokespeople age out of popularity. The stock has fallen another 19% this year following a 30% loss in 2024. "The superstars that are all aging. LeBron James is in his 40s. Michael Jordan is 30 years retired," Brown said on CNBC's " Halftime Report ." "I don't even know what we do with something like Nike here. It's just a falling knife. It's a really tough one." In late March, Nike said it expected its sales to decline in the fiscal fourth quarter to be at the "low end" of the "mid-teens range," far worse than analysts expected. The company said its guidance is based on its ongoing restructuring efforts, plus tariffs and sliding consumer confidence. NKE 5Y mountain Nike, 5 years Nike did beat Wall Street's expectations in its fiscal third quarter, however. "This is a stock that is effectively sitting on an eight year low. It keeps making lower lows even when they have a 'better than expected quarter,' within a week, stocks down," Brown said. Nike said last week it will raise prices on a wide range of footwear , apparel and equipment as the retail industry braces for tariffs to hit its profits, The investor said Nike has been getting by through selling staple sneakers like Air Force Ones and Jordans, but that's not enough to beat competition. "This is the same thing they've been doing," Brown said. "You've got these other brands that have come along. They don't have meaningful market share, but they're forcing Nike to fight defensively in key markets, like running." All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
CNBC
20-05-2025
- Business
- CNBC
Josh Brown says AI is more important than tariffs to the stock market
Josh Brown, CEO of Ritholtz Wealth Management and CNBC PRO contributor , said Tuesday the most important theme for the stock market right now is not tariffs, but rather artificial intelligence. "The most important thing to come out of this past earnings report is that AI is more important than tariffs to the stock market," Brown said on CNBC's " Halftime Report ." Citing JPMorgan research, the widely followed investor noted that the term "AI" was mentioned 2.6 times more often than the word "tariff" in this last round of S & P 500 earnings reports. Brown said those Big Tech companies affirming or even raising guidance saved the entire stock market from the massive turmoil in April. For example, Microsoft issued surprisingly strong guidance at the end of April, lifting shares up more than 20% this quarter. Meta was one of the companies that increased its 2025 capital expenditures. "This is an AI driven tape. This is still the most important theme in the entire market," Brown said. "Yes, there are other themes. Yes, there are other sectors doing well, but absent AI, there's just no chance that we would have pulled this this spring out of the hole the way that we have, and that's because of the affirmed guidance." Brown said he's bullish on chipmaker Nvidia headed into its quarterly earnings next week, calling it the most important company in the AI story. "It's the sun, and AI is a solar system, revolving around it," Brown said, referring to Nvidia. (For "The Best Stocks in the Market" from Josh Brown and team, see here.) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
CNBC
13-05-2025
- Business
- CNBC
Josh Brown bought more shares in this restaurant-software firm that's up more than 20% in 2025
Josh Brown, CEO of Ritholtz Wealth Management, said Tuesday he added to his position in Toast , a payments company for restaurants that just posted its latest quarterly results. "I've been involved in the stock for a while, and I bought the name right before the numbers, because I like when you see strength going into the numbers," Brown said on CNBC's " Halftime Report ." Toast, whose payments technology is popular in restaurants and cafes, saw shares jump about 4% Tuesday. Last week, the company posted its first-quarter report , as well as solid guidance for the current quarter and full year. Brown called out Toast's sharp growth in the first quarter, adding 6,000 net locations and announcing a big enterprise deal with Applebee's. The company also reported an annualized recurring run-rate of $1.7 billion as of March 31, reflecting a 31% increase year over year. TOST YTD mountain Toast "There were a lot of analysts who thought this company would never get to profitability. Now, they're there and I think the stock looks great so I'm not trading, I'm sticking with my position," Brown said. Toast shares have rallied about 23% this year after nearly doubling in 2024. The firm went public in September 2021 . Brown also highlighted car dealer Carvana , a stock that just made his list of Best Stocks in the Market model. The widely followed investor said Carvana is probably the most obvious beneficiary of rising used car prices. DISCLOSURES: All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
