WSJ's Take On the Week

1d ago

This week we’re bringing you an episode of our sister podcast What’s News Sunday, a weekly show tackling the big questions about the biggest stories in the news. In this week’s special episode, Lingling Wei, WSJ’s Chief China Correspondent, focuses on how China has been making major inroads on the technology front from artificial intelligence to autonomous driving, complicating its relationship with the U.S. She is joined by Peter Landers, WSJ’s Asia Business Editor, and Victor Wang, a Silicon Valley venture capitalist to address audience questions related to this dynamic tech race. Learn more about your ad choices. Visit megaphone.fm/adchoices

5d ago

In this week's episode of WSJ’s Take On the Week, co-host Telis Demos and guest host Hannah Erin Lang discuss the Federal Reserve's recent rate cut and whether further easing is expected in 2026. They get into the upcoming CPI report, which is expected to show stubborn inflation, and how that could pressure consumer stocks like Nike and General Mills. The hosts also look at the busy slate of global central bank decisions from the EU, the U.K., and Japan — highlighting how a potential rate hike from the Bank of Japan could impact the U.S. dollar. They also discuss whether the latest jobs report reveals the growing impact of artificial intelligence on the labor market? After the break, Telis is joined by Ajay Rajadhyaksha, global chairman of research at Barclays, to explore the relationship between AI and the economy. Rajadhyaksha explains why he doesn’t see AI causing net job losses yet, but rather a slowdown in new hiring and wage pressure. He argues that the huge amount of AI spending is keeping the economy growing right now. However, he warns that if the AI investment falters, there could be consequences for the U.S. economy. Finally, Ajay offers his take on why investors should look to markets like Japan and Korea for AI opportunities. This is WSJ’s Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street’s banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead. Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com . To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com Further Reading Tens of Thousands of White-Collar Jobs Are Disappearing as AI Starts to Bite How the U.S. Economy Became Hooked on AI Spending More Big Companies Bet They Can Still Grow Without Hiring The AI Data-Center Boom Is a Job-Creation Bust For more coverage of the markets and your investments, head to WSJ.com , WSJ’s Heard on The Street Column , and WSJ’s Live Markets blog . Sign up for the WSJ's free Markets A.M. newsletter . Follow Gunjan Banerji here and Telis Demos here . Learn more about your ad choices. Visit megaphone.fm/adchoices

Dec 7

In this week’s episode of WSJ’s Take On the Week, co-host Telis Demos is joined by WSJ markets reporter Hannah Erin Lang to discuss the return of investor optimism as the S&P 500 approaches all-time highs ahead of the FOMC’s upcoming meeting. They also analyze the next test for the AI trade: earnings from Oracle and Adobe this week. Plus, the U.S. dollar is sliding as the Federal Reserve prepares to cut rates while Japan signals hikes. The hosts discuss how this could drive capital abroad. After the break, Telis sits with Nate Wuerffel, head of market structure and product head for the global collateral platform at BNY, to discuss the Fed’s other big decision: How large a balance sheet should it maintain? Wuerffel, a former New York Fed official, explains the mechanics of quantitative tightening and the risks of "scarce” reserves. They explore how liquidity in the "plumbing" of the financial system affects everyday consumers through higher mortgage costs and discuss the importance of a liquid Treasury market in preventing crises like 2023’s Silicon Valley Bank failure. This is WSJ’s Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street’s banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead. Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com . To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com Further Reading The Fed’s Tool for Calming Short-Term Funding Markets Is Being Tested Fed’s Williams Expects Central Bank to Return to Asset Purchases Soon The Fed’s $6.6 Trillion Test: When to End Its Portfolio Runoff A Little Dual Easing Soon Could Help the Fed Avoid Major Easing Later The Repo Market: What It Is, and Why Everyone Is Talking About It Again For more coverage of the markets and your investments, head to WSJ.com , WSJ’s Heard on The Street Column , and WSJ’s Live Markets blog . Sign up for the WSJ's free Markets A.M. newsletter . Follow Gunjan Banerji here and Telis Demos here . Learn more about your ad choices. Visit megaphone.fm/adchoices

Nov 23

In this week's episode of WSJ’s Take On the Week, co-host Telis Demos and guest host Hannah Erin Lang discuss the volatility of the AI trade and how Nvidia's earnings report at least somewhat helped restore investors’ faith. They analyze new signals from retailers, including those who recently reported earnings, such as Target and Walmart, about the K-shaped U.S. consumer economy and the uneven spending patterns heading into the crucial Black Friday and holiday season. The hosts also note that the recent market choppiness, which saw gold and bitcoin fall, highlights the impact of the AI trade on the broader market. Upcoming earnings from companies like Dell Technologies, which has talked about AI as a driver, and consumer-staples companies and retailers, including J.M. Smucker, Kohl's and Abercrombie & Fitch, will provide further reads on both AI and the health of the consumer. After the break, Telis talks with Luca Paolini, chief strategist at Pictet Asset Management, to discuss why U.S. investors should diversify their investment portfolios outside of their home market. They explore Pictet’s theory of the “great convergence,” where non-U.S. economies like Germany, Japan and Latin American markets are expected to close the growth gap with the U.S. Paolini makes the case for why the dollar's strength is fading, a key part of the dollar debasement trade, and why the outperformance of the MSCI World Index excluding the U.S. highlights the need for a long-term diversification strategy. He also outlines specific investment opportunities in alternative assets and foreign markets. This is WSJ’s Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street’s banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead. As we look ahead to 2026, what major economic, markets or finance question is top of mind for you? We’d love to hear from you. Email the show at takeontheweek@wsj.com . To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com Further Reading Here’s Why Stocks Gave Up Their Gains It’s a Scary World, but Investing Abroad Has New Attractions Delayed Data Show Strong Hiring, but Offer Little Clarity for Fed Nvidia’s Strong Results Show AI Fears Are Premature The Crypto Trades That Amplified Gains Are Now Turbocharging Losses For more coverage of the markets and your investments, head to WSJ.com , WSJ’s Heard on The Street Column , and WSJ’s Live Markets blog . Sign up for the WSJ's free Markets A.M. newsletter . Follow Gunjan Banerji here and Telis Demos here . Learn more about your ad choices. Visit megaphone.fm/adchoices

Nov 16

In this week's episode of WSJ’s Take On the Week, co-hosts Gunjan Banerji and Telis Demos discuss the lingering economic impact of the U.S. government shutdown and why a lack of crucial inflation and jobs data is making the outlook murky for the Federal Reserve. Next, Nvidia is set to report its third-quarter earnings this week. And Morgan Stanley estimates that only half of the roughly $3 trillion in global data center spending through 2028 could be funded by projected cash flows. So how are tech companies going to fund the rest? Then after the break, Telis is joined by Guy LeBas, chief fixed income strategist at wealth management and investment banking firm Janney Montgomery Scott, to explore how the AI revolution will be financed. Oracle, Meta and Google parent Alphabet have made bond offerings valued in the tens of billions. LeBas explains that the trillions needed to help fund data centers will force tech hyperscalers to issue massive new debt, potentially increasing the size of the corporate bond market by 20% a year. And he talks about whether the AI bubble could find its way into the bond market. This is WSJ’s Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street’s banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead. As we look ahead to 2026, what major economic, markets or finance question is top of mind for you? We’d love to hear from you. Email the show at takeontheweek@wsj.com . To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com Further Reading Who Will Pay for the AI Revolution? Retirees Is the Flurry of Circular AI Deals a Win-Win—or Sign of a Bubble? Meta Finishes Jumbo Bond Sale; Yield Climbs While Stock Slides BlackRock Among Biggest Investors in Meta’s Giant Data-Center Debt Deal AI Borrowing Floods Debt Markets Big Tech Is Spending More Than Ever on AI and It’s Still Not Enough Oracle's $18 Billion Bond Sale Meets Strong Investor Demand For more coverage of the markets and your investments, head to WSJ.com , WSJ’s Heard on The Street Column , and WSJ’s Live Markets blog . Sign up for the WSJ's free Markets A.M. newsletter . Follow Gunjan Banerji here and Telis Demos here . Learn more about your ad choices. Visit megaphone.fm/adchoices

Nov 9

In this week's episode of WSJ’s Take On the Week, co-host Telis Demos and guest host Miriam Gottfried discuss the Supreme Court case challenging President Trump's reciprocal tariffs and how that’s playing out in the markets. Next, they look at affordability as the winning message from recent elections, such as Zohran Mamdani’s successful campaign to be the next mayor of New York City. Plus, they explore the recent drama in the private credit market after executives at Blackstone downplayed the “cockroach” fears sparked by JPMorgan Chase CEO Jamie Dimon. After the break, Miriam is joined by Michael Nathanson and Robert Fishman, senior media analysts at MoffettNathanson, to break down the potential Paramount Skydance and Warner Discovery merger. First, the analysts explain why global scale is a necessity for traditional media companies to compete with Disney, and big tech giants like Netflix, Amazon and Google’s YouTube. Later, the analysts discuss whether a merger will follow historical examples and fail to generate value for shareholders or whether this time truly is different. This is WSJ’s Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street’s banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead. Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com . To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com Further Reading Warner Discovery Moving Fast on Split or Sale, CEO Says Supreme Court Appears Skeptical of Trump’s Tariffs Wall Street Couldn’t Stop Mayor Mamdani. Now It Has to Work With Him. Private-Credit Earnings Ease Investor Concern Over Asset Class’s Health For more coverage of the markets and your investments, head to WSJ.com , WSJ’s Heard on The Street Column , and WSJ’s Live Markets blog . Sign up for the WSJ's free Markets A.M. newsletter . Follow Gunjan Banerji here and Telis Demos here . Learn more about your ad choices. Visit megaphone.fm/adchoices

Nov 2

In this week's episode of WSJ’s Take On the Week, guest host Miriam Gottfried speaks with Eric Resnick, CEO of private equity investment manager KSL Capital Partners, about the resilience of the travel and leisure sector. He explains why he sees leisure travel demand as a powerful anchor that allows the sector to defy pressures typically seen during an economic downturn. We dive into the outlook for corporate travel, the challenges facing new hotel construction, the rising experiential economy and what investors should be watching for as lodging companies like Marriott and Airbnb release their earnings this upcoming week. Correction: Hilton Grand Vacations released their earnings on Oct. 30. An earlier version of this podcast incorrectly said it was releasing its earnings this upcoming week. (Corrected on Nov. 3) This is WSJ’s Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street’s banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead. Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com . To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com For more coverage of the markets and your investments, head to WSJ.com , WSJ’s Heard on The Street Column , and WSJ’s Live Markets blog . Sign up for the WSJ's free Markets A.M. newsletter . Follow Gunjan Banerji here and Telis Demos here . Learn more about your ad choices. Visit megaphone.fm/adchoices

Oct 26

In this week's episode of WSJ’s Take On the Week, co-hosts Gunjan Banerji and Telis Demos discuss market speculation, from the recent sputtering in the gold rally to what to expect from this week's Federal Reserve meeting. Next, Apple is reporting earnings this week, but the company saw a bump after a research report was released saying the company saw strong sales with its latest iPhone. Later, Robinhood has come a long way since the meme stock mania, entering the S&P 500 company earlier this year and knocking on the door of being the largest publicly traded brokerage company. Christian Bolu, a senior analyst at Autonomous Research, joins Telis to dig into how Robinhood has transformed, how it stacks up to its competitors, such as Interactive Brokers, Charles Schwab, Polymarket and even sports betting company FanDuel, and how much more runway the platform has to grow. This is WSJ’s Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street’s banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead. Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com . To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com Further Reading Gold Price Suffers Worst Day in More Than a Decade; Silver, Platinum Drop Apple Stock Hits New Record on Report of Strong iPhone Sales FanDuel Places Opening Bet on Promising but Precarious Prediction Markets NHL Deal With Kalshi, Polymarket Adds to Pressure on Sports-Betting Companies NYSE Owner to Invest Up to $2 Billion in Polymarket Not Your Daddy’s Broker: How Robinhood Stacks Up Against Charles Schwab Robinhood Stock Gets a Prediction Market Boost Robinhood Markets to Join the S&P 500 Index For more coverage of the markets and your investments, head to WSJ.com , WSJ’s Heard on The Street Column , and WSJ’s Live Markets blog . Sign up for the WSJ's free Markets A.M. newsletter . Follow Gunjan Banerji here and Telis Demos here . Learn more about your ad choices. Visit megaphone.fm/adchoices