Cyber Stocks Hit New Record High: How to Trade it 7/14/26

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**SPEAKER_3** (1:00)
You're listening to Halftime Report, In Progress.

**Scott Wapner** (1:05)
I'm Scott Wapner and you're listening to CNBC's Halftime Report, the podcast, the most profitable hour of the trading day. We record this live weekdays at 12 Eastern, listen in.

**SPEAKER_5** (1:19)
It's standing in the eyes of Congress and the American people.
Chairman, will you commit to getting the Fed back to truly sticking to its lane? If so, how do you plan to do it?

**Kevin Warsh** (1:30)
So, I can make that very commitment.
Our credibility in monetary policy, our credibility as supervisors, our credibility in payments, these are all tied together. And the way we erode that credibility are two things. We wander outside of our lane into your lane or into the lane of another executive branch where we don't deliver on our promises. The first thing we can do is to deliver on our promises. And the second thing is, as you said, more eloquent.

**Scott Wapner** (1:57)
All right, welcome to the Halftime Report. I'm Scott Wapner. We will monitor the remainder of Fed Chair Warsh's hearing on the Hill. We do, though, want to get right to a CNBC exclusive interview. David Faber with Goldman Sachs Chairman and CEO, David Solomon, right here at the New York Stock Exchange. David, take it away with David.

**David Faber** (2:18)
Thank you so much, Scott. Yeah, we can wave to you from up here, actually. It's a nice view. David, thank you for joining us.

**David Solomon** (2:23)
Absolutely.
Thanks for having me. I've never been up here.

**David Faber** (2:27)
No, it's rare. We don't let anybody up on this little platform.

**David Solomon** (2:30)
I feel lucky to be up here with you today.

**David Faber** (2:32)
They let you here at the New York Stock Exchange. We've been listening, our viewers have been listening to Warsh for the last couple of years. Obviously, going to get to your earnings. It's been a lot of time on that. But just quickly, you know him well. I don't know any expectations.
He shared a lot of what he's already shared to the extent he shared not much at all. But what are your expectations for the Warsh era Fed?

**David Solomon** (2:52)
Well, I'm excited to see Kevin in the seat.
You know, I think he's got an enormous amount of experience that can help him shape his leadership as Chairman of the Fed. You know, of course, the governors, along with the other regional bank presidents, you know, will work collaboratively to drive monetary policy. You know, he's got a view as to how he's going to communicate around that. You can see him executing on that. But I also think that Kevin understands that, you know, the role of Fed chair is not just monetary policy. It's a big important institution that has responsibilities around regulation and, you know, other issues. And I think he's focused on putting his imprint on the institution.

**David Faber** (3:33)
It does feel like he's going to remake the institution to a certain extent.

**David Solomon** (3:35)
Do you think so? I think remakes a big word.

**David Faber** (3:38)
Yes.

**David Solomon** (3:39)
You know, I think Fed independence has served as well. And I think the institution has continued to operate, you know, independently with a very, you know, high standard toward discharging its responsibilities broadly. But I, you know, I think there's always room, you know, shape at the margin, you know, great institutions like this. And I think Kevin has a view that he can have a broad impact. And I look forward to watching him, you know, execute against that.

**David Faber** (4:02)
Yeah. All right. Let's get to, let's get to Goldman Sachs. Your stock is the best performer of all the big banks that reported this morning. It was a quarter of quarters, I guess, having followed your company for as long as I have. I'm just looking at net revenues were up 39% year over year, 18% sequentially earnings up 78% year over year, 18% sequentially and on and on from there in terms of ROE and return on tangible equity and everything else, David. I guess the question really is, is this a one time peak as a result of this unique moment we find ourselves in or can this really be something you expect to be a new baseline?