woodward and bernstein. it's really a great pleasure to be here and there are so many things we can talk about in the short time we have together tonight. of course, i want to talk about watergate, i want to talk about connections between watergate and our present moment. >> oh, child you want to do that? mark: just in case anyone's interested. but i want to start with a little bit about the two of you. how did you get involved in the journalism world, carl? carl: i was 1 years old. i had one foot in the classroom, one foot in the pool hall. one foot in the juvenile court and it was doubtful that i was going to get out of high school and my father had the foresight of recognizing that and he knew i could write a little bit and he knew somebody at the washington star, the great afternoon newspaper in the cool of the united states and he went to someone and said, hey, could you get this kid a job? more or less as a copy job boy and i got the job. john kennedy and richard nixon were running president when i wen

joining me now is rich bernstein, the ceo and chief investment officer at richard bernstein advisors. rich, how can this be the.com crash? when. now. what is amazon spending $100 billion. it's like $300 billion. i know that the other side of that may look bad, but aren't we still on the upward climb. >> so kelly remember the. >> market's going to anticipate a lot of this. >> the market's not going to wait. and you know. >> in the tech bubble. >> you had extensive amounts of capex as well. you had. >> capex on storage. >> you had capex on on. >> fiber optics. >> there were there was a lot. >> of money being spent. not as much as being spent. now this is even more. but, you know, effectively, what people forget. >> is that there's. >> inventory cycles in every single industry. >> and what you're. >> seeing is a build up of an inventory cycle. in tech, everybody's spending like, like fiends right now. but there's. >> really not. >> the demand. and everybody's everybody's scared to be. >> caught behind the. >> eight ball and be slow. so what. >> happens is they. >> build up. >> capacity a

i was a bit younger one would run bernstein were in watergate but i heard a lot about it because evenpro-nixon because he had a decent relationship with iran. they were very concerned, what was to happen. why are these people writing all the stuff about nixon? it was really interesting. i had no idea. so in my consciousness he was my influence were slightly æ >> he probably did not worry about what you were going to the shop. >> i think it's interesting when a commonality what everyone has said what i think about is it's journalism that journalists can ÃÃi remember not one story but a moment i was in college i was a journalism student and it was september 11 i remember my roommate in college roommate had the tv on i heard tom brokaw's voice and sticking thinking why is tom brokaw on the morning usually did evening news i woke up and looked at the television and saw everything that was happening and then we spent the next like so many people the next 12 hours glued to the television watching these reporters and the people experiencing what's happening but it was like that connection w

stacy rasgon bernstein. thank you. >> you bet. >> all right.tanley downgrading california utility pg e to underweight their fancy word for sell, writing that the threat of wildfires in california and out west is simply too much risk for you as an investor to bear, and that california's wildfire fund is likely no longer large enough to support the financial health of the utilities. morgan stanley, also lowering its price target on edison international from 71 to 48. stock is at 51. shares of both of these companies are down right now and also down big beginning of those fires back in january as we still search for a reason on exactly what happened. we don't know. but the market has reacted more back right after this. >> techcheck is sponsored by >> techcheck is sponsored by comcast (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. >> is this. >> your dream of retirement? how about this. >> sweet deal? i like fishing, or is this. >> a little. >> more your style? retiring wealt

joining us now is our friend jared bernstein, former chairman of the white house council of economicadministration. and jared, i remind viewers that you were the architect of bidenomics. so as you look at those numbers, did the biden administration achieve the soft landing that president biden and the federal reserve aimed for? and what kind of shape did president biden leave the economy? >> well, first of all. >> great to be with. >> you again. and i. >> probably give president. >> biden the credit. >> for bidenomics the soft landing. >> which is another way of saying. >> getting inflation. >> down without having. a recession. >> or without having. the unemployment. >> rate go up. >> there were many economists. >> who told. >> us. >> because of that traditionally. inverse relationship, that. >> if we wanted inflation to. >> come down as much as it did. >> we were going. >> to have to accept a much worse. >> economy and labor market. that was something that. >> was not okay with president biden. he believed we could have a soft landing. >> which meant getting inflation back down. to

man is now facing charges in the killing of a father of two in west oakland. 32 year old willie bernsteinm richmond was shot and killed outside his job at otto clore on the morning of new year's eve. the alameda county da is now charging 26 year old joseph westbrook with murder and special circumstances of lying in wait for the shooting. police say westbrook is accused of being armed with an ar and 40 caliber, 40 caliber pistols. investigators have not yet said whether they've determined any connection between the victim and the suspect. san jose police say they are testing more than 900 rape kits after receiving a federal grant for $2.5 million. now, this is the second federal grant the department has received in the last five years. ktvu south bay reporter lamonica peters has the story. >> you were a victim of a sexual assault case, and they never identified the perpetrator. we haven't given up on you. >> after receiving a $2.5 million grant from the u.s. bureau of justice assistance, the santa clara county da's office says they've been working with san jose police as they process backl

james pethokoukis of aei and jared bernstein, former chair of the cea.coming up, the data center derivative play. vertiv one of the best stocks in recent years, down 7% today on disappointing guidance. they make liquid cooling systems for ai data centers. and remember, the shares had plunged 30% during that deep sea sell off a couple of weeks ago. so what is going to happen with demand now? we'll ask the ceo next. and as we head to break, take a look at stocks on a volatile session. the nasdaq erasing a 1% loss to turn positive on headlines about trump looking for a resolution in ukraine. the dow erasing a 489 point loss. it's down 190. the s&p down a quarter percent. and the ten year still sitting post cpi at 464. we're back after this. >> this is the exchange on cnbc. >> individually each of us is great. >> but from. >> here you. >> can see we're one big team. at atlassian we believe real progress takes all of us working together on new sources of energy, cars that drive to the future, even pizza deliveries. together we can go beyond where we've ever b

at a concert tonight in berlin -- the conductor was leonard bernstein -- they performed beethoven's 9th, climaxing in "the ode to joy." except tonight, one word was changed. it became an "ode to freedom." [ "ode to joy" plays ] reporter: the playwright and human-rights activist is czechoslovakia's first non-communist president in 41 years. john cochran: the new rulers of romania said tonight that the deposed despot nicolae ceausescu and his wife were executed after a military court found them guilty of genocide, stealing state funds, and trying to escape prosecution. from our point of view, there is simply no argument about the most remarkable story of the decade -- freedom. in some cases, freedom which had been unthinkable as the decade began. [ "ode to joy" concludes ] [ cheers and applause ]

fundamentals and next guest said the real key driving them up for shares and bringing in richard bernsteinnt and earning season great so far and hard to argue against that and i'm a skeptic and starting with higher earning estimates and braining that down and bringing lower bar and these have been legitimate numbers. >> expectation and beats and absolute level of growth similar proving and it's been awhile and broadening reflected in some of the performance this is year. charles: some of the market outlook and the nag and near term and the economy is healthy and acceleration is corporate profits and >> it's how we're framing it and going to be good and phenomenal growth is good for the economy, profit is accelerating and broadening out and good time to own cyclicality in your portfolio and later in the year profits growth going to peak and not fall out of a cliff and that's why you want to move up in quality and down in cyclicality. charles: before earning season kicked off and there was a quiet re-ation going on. the middle sectors up pretty nicely and quiet investors and materials and fi

joining us with $125 billion in assets under management is roosevelt bowman of bernstein private wealthg me again, liz. the main take away for him is what we're anticipating and going to move for the producers of the models and going for the models and whether this recent model or deepseek or other new worm takes over and the power cooling and the big box retailers that have tons of data about their sales and distribution and how to be more efficient in the processes. liz: just customers. >> exactly. those are all great ways to invest in ai and moverring from the owners of the models. liz. talking about power companies and the ones involved here in many case ands got basic utility scenes and not to mentions the data center names and tear after the first of the year and stumbling last october due to accounting issue and dell as well. just recommend going into those areas? >> yeah, those are areas that are attractive and look at deepseek news and a lot of names sold off then, but i think that was on the assumption that win is more efficient and great decline and energy and going to be two

larry: before kara goes, can i think woodward and bernstein for opening for us? i thought that was nice. wasn't that nice? i thought that was nice. they did a good job. kara: they have some promise. larry: i think so. i will keep an eye on those two. kara: how i get started -- got started as a reporter, i was the yearbook at her, which is a job of immense were in high school, but i was not in newspapers. i did not work for newspapers. i really wanted to be a spy. i am gay, as is obvious. it is true. come on. let's stop. larry: you said it. kara: no questions here. wanted to be in the military and college. my dad was in the military. it was pre don't ask, don't tell. everyone had a terrible history of doing this so i could not be in the military without telling essentially, so i didn't. i was going to do some other public service, but it was really hard at the time. at that time, people don't member that, but it is true. so i got into reporting, which was similar, adjacent to analysis because i was going to be an analyst essentially. like on "homeland" but 100% le

i did ask carl bernstein for interview. i was put in touch with and he said i would be delighted to talk you and proceeded to ghost me for two years after that. so i deleted that email address. and then bob woodward did agree to talk to me. and the reason is, you might remember alexander butterfield told who revealed the existence the tapes. so mr. butterfield gave me some wonderful multiple wonderful interviews about, pat, because when haldeman was never able to work successfully with her and, then dwight chapin, another aide, was not able to work with her as a liaison, the west and the east wing. so mr. butterfield took over and he adored and he's worked with mr. woodward on another book. and i told mr. butterfield about you know, he forgotten, i think, because has been so long ago about her characters nation as as a heavy drinker. he said, that is ridiculous. i call bob and have him call you and he did call me. but when i said, what are your names, what are your sources? he could not give me one source could not? would n

congressional budget former congressional budget office director and former president and jared bernsteinir of economic advisors. think to both of you. generated is nice to have found the program. what do you think by the way so far that administration economic policies having worked in the last administration? >> i'm worried about the extent to which the tariffs agenda would hurt american consumers. there was no question in my mind and economist bradley agree on this that tariffs works like a sales tax for the consumers of the pudding on the imports. to the extent we have already a problem getting inflation back down to where we wanted to be be an especially given the price level w what things actually cot and trust me, and the veteran and have been this bunch of yeas now. consumers really don't like that. trump will not be able to keep the promises you heard about getting prices down and tariffs the wrong way. >> sandra: with all withheld the respect, many safe inflation is the ultimate tax on the american consumer. most if that did happen under your watch during the administration. aus

. >> next the investigative journalist bob woodward and bernstein discuss the watergate scandal.his portion of the lbj foundation is under one hour.

larry: before kara goes, can i think woodward and bernstein for opening for us? i thought that was nice. wasn't that nice? i thought that was nice. they did a good job. kara: they have some promise. larry: i think so. i will keep an eye on those two. kara: how i get started -- got started as a reporter, i was the yearbook at her, which is a job of immense were in high school, but i was not in newspapers. i did not work for newspapers. i really wanted to be a spy. i am gay, as is obvious. it is true. come on. let's stop. larry: you said it. kara: no questions here. wanted to be in the military and college. my dad was in the military. it was pre don't ask, don't tell. everyone had a terrible history of doing this so i could not be in the military without telling essentially, so i didn't. i was going to do some other public service, but it was really hard at the time. at that time, people don't member that, but it is true. so i got into reporting, which was similar, adjacent to analysis because i was going to be an analyst essentially. like on "homeland" but 100% le

in the course of this to have my friend dan moldea, who is to the hoffa story, what woodward and bernstein are to watergate, to give me some guidance in this area. and he has been on the hoffa story for for 50 years. i don't know of anybody who's been on any case that that long. i was 13. so i certainly wasn't on it that long. but fitzsimmons was pliable. they wanted him and they wanted him for access to the pension and other things. well, this pardon, not the pardon, the commutation of jimmy hoffa set in motion what ended up in his death and and so we begin to see something we'll see later. and reagan with the concerted turn from democrats of a from you know, with with labor to republicans, probably the thing that most fascinate me about the network on the nixon chapter is there was a lot in the watergate files and records about nixon referring to what about the bay of pigs? what abouthe bay of pigs thing? and i'm making a very long story short. what i determine that that meant is nixon was very self-conscious that he had been aware that the kill castro program started under eisenhower, a

there's a big debate with rich bernstein last hour about whether it's time to get out of the mag seven. and i mean, i don't know, i guess granted all that the dow is down 400 points. >> i mean, i. >> think you're. >> making a great point. >> macro and micro. >> both matter. >> you always. >> have. >> to be looking at both and putting. >> the bigger picture together. >> again, if you think about the jobs data we had, but also some of the data out of that amazon. >> report. >> yes, it disappointed overall, but they also talked about year end. activity being very strong. the us consumer today is still very strong. and at the end of the day, that and the hundreds of billions of dollars. that are coming. >> into the us economy. >> from tech capex, these are important. >> supports. but those. >> are what is today and behind us. but we have to think about going forward, if the consumer, which is the engine of growth, if they get more cautious because of the prices of eggs or uncertainty around tariffs and they start to pull back, it almost doesn't matter what amazon does. i'm picking on amazo

he wasn't advocating, but just pointing out the outperformance, which bernstein said, look at the europeanap value space when that's outperforming, which it has this month, the past month or so, you know, things have changed. mike, thanks so much. it's good to check in with you. we appreciate it. >> thank you. >> michael darda with roth capital partners. coming up, the chip stocks haven't fully recovered from last month's deep sea induced selloff. and now openai is reportedly close to developing its own first custom ai chip. is it another headache for the semi stocks or just a head fake? we'll talk about that next. >> individually. >> each of us is great. >> but from. >> here you can see. >> we're one big. >> team at atlassian. we believe real progress takes. >> all of. >> us working together on new sources of. >> energy. >> cars that drive to the future, even pizza deliveries. together, we can go beyond where we've ever been collaborating from anywhere on everything. atlassian makes software for teams to do what is impossible alone. >> it's an absolute problem. >> it happens all of the ti

the trailblazing, trailblazing bassist was hired by legendary composer leonard bernstein nearly 60 yearsthe philharmonic for a remarkable 55 years. o'brien, who endured sexism from her colleagues and audiences alike, recently told the guardian of her early days playing with the new york philharmonic, quote, i never let a man carry my bass. for me, the only girl in the orchestra is streaming now on netflix, and you can see who takes home the oscar for best documentary short on sunday, march 2nd. still ahead, we're learning more about the trump administration's layoffs at the department of health and human services over the weekend, and how those cuts could impact the country's response to the current ongoing bird flu outbreak. those details nice to meet ya. bird flu outbreak. those details wh my name is david. i've been a pharmacist for 44 years and i'm from flowery branch, georgia. when i have customers come in, i recommend prevagen. number one, because it's effective. does not require a prescription. and i've been taking it quite a while myself and i know it works. and i love it when th

joining me now is bernstein research's stacy rascon. stacy tariff risk in semiconductors.u look at it after these new china the china back and forth. >> yeah you bet. so semiconductors actually have very little direct risk from tariffs at least on these countries which are china. and then i guess we'll find out at some point mexico and canada, the us imports a fair amount. i think in 23 the us imported about $73 billion of total semiconductors. less than 10 billion came from those three countries combined. now out of a $600 billion plus total industry it's relatively small. so the direct impacts are pretty minimal. there are potential indirect impacts, though, because most semiconductors travel into the us inside other things. and so there can be secondary effects like if there's demand destruction, because the prices of the end products that contain the semiconductors go up. and does that impact demand? just for an example, you know, china is a pretty sizable importer to the us of things like handsets and compute pcs and servers. mexico is as well as well as vehicles and

it has areas for children to play and the bernstein bear books. they have pulled it from today's agenda because we are told that many republicans think the museum is too woke and too d.e.i. that's right. that's the explanation we have been given why the deal's off and the democratic bill can't be considered today. now, i don't know the names who made this decision or what specific complaints are behind it. but i am guessing that some of my republican colleagues don't like the fact that the museum has a small temporary exhibit called black doll designers that let's visitors and i quote learn about the available role that black designers have diversified toy oils. and in september, hispanic ball rinna barbie and first barbie line of dolls and i quote come in various ethnicities encouraging diversity and incluesist. that doesn't strike me as being offensive but is that why we can't have a vote on this bill, unidentified republicans are triggered by hispanic ball rinna barbie or our republican friends just taking their orders from the far right breitb

owen smith from his 2008 series dashiell dashiell mamet's san francisco street artist by jonathan bernstein from his 2010 series meat market portraits of the street. the theme of that year was new images based on photographs and seasonal. williams and janice merritt cattani by kate haag and ivan aranda from the 2017 series summer of love trading cards. the theme of that year was the 50th anniversary of the summer of love. next we have the mother and child free huey rally by deborah sahm for the series i also from 2017 oh sorry went to fast. untitled by sylvia cordova for the 2018 series of body reorganized. the theme of that year was sanctuary city david brooks at hospitality house by lukas brafman. similar for 2019 on whose shoulders the theme of that year was 24 seven. and then we have the transgender district by marcel pardo or risa for the 2020 series kin streets. the theme for that year was celebrating 50 years o gay pride in san francisco. >> jose soria by win mixture in pride as a protest al from 20 al from020 a son you are still here from kimberly are touches. 2021 series. it wasn't

bernstein, jp morgan rosenblatt all examples of companies that at least drop their price targets by 25to $110. wedbush argues the data center gpu missed, david, that you mentioned already in q4 was not really in the cards, which is why you're seeing the stock sell off a lot more today, 10% while morgan stanley quote says the sense is that the mi 350 helps modestly. so that's amd's ai gpu. but the real potential inflection point is likely. the mi 400 in mid 2026. in other words, a ways away, investors were pretty negative going into this earnings report, with shares down over 38% just over the last year, underperforming the stock's chip etf, which is a great barometer that's up 8% during the same time frame. qualcomm got to switch gears. on the other hand that company is up over 19% over the last year and their earnings are out over the bell. three main areas of focus for this particular name. first, you got smart phones. the company is winning with androids lining 100% of samsung's new phone chips, which is up from just partial share before. although they are losing apple as a customer