GLPs & Fraud with Dr. Oz & Kevin O’Leary’s $11m Baseball Card 9/8/26

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Bring in show music, please.

Katie Kramer (1:00)

Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod. Lowering drug prices, Dr. Mehmet Oz, Medicare and Medicaid Administrator, on the deals the administration is doing to make prescriptions less expensive.

Dr. Mehmet Oz (1:14)

Can you charge the same here as you charge overseas? If you will do that, we will help you with your pricing overseas, but you got to bring your prices down to most favored nation.

Katie Kramer (1:23)

And the politics and diplomacy required to make it happen.

Dr. Mehmet Oz (1:26)

Now, 90% of all the drugs, brand new products sold in America are under most favored nation drug pricing.

Katie Kramer (1:33)

The hard assets of coveted collectibles, one of the most expensive baseball cards ever, the $11 million Shohei Ohtani card that Kevin O'Leary is adding to his portfolio.

Kevin O'Leary (1:43)

We step outside, we ask 10 people, do you know who Ohtani is? Even if they're not baseball fans, they know who he is. This guy has transcended the sport.

Katie Kramer (1:51)

And it's not his only bet in the stuff you can hold for yourself.

Kevin O'Leary (1:55)

You either believe in this asset class or you don't.

Katie Kramer (1:59)

Plus new tariffs on Canadian goods, a buzzy doc about a disgraced CEO, and Nvidia's Jensen Huang says it's here, the artificial intelligence that can match or beat the human brain.

Andrew Ross Sorkin (2:11)

And the more compute, the faster and more interesting things this thing will try to do.

Katie Kramer (2:17)

It's Tuesday, September 8th, 2026 Squawk Pod begins right now.

Andrew Ross Sorkin (2:23)

Stand Becky by in 3, 2, 1

Becky Quick (2:28)

Good morning, everyone. Welcome to Squawk Box right here on CNBC. We are live from the NASDAQ market site in Times Square.

I'm Becky Quick, along with Andrew Ross Sorkin. Joe is out today. Here we go on a Tuesday morning. Take a look at what's been happening with the Treasury market. On Friday, we got the jobs report. This week, we get the CPI, all of it leading up to the FOMC meeting, a decision on rates that's anticipated. Ahead of that, the 10-year is yielding $479. The 30-year is at $426. The 2-year yield, actually a little bit lower. It's at $437.

Andrew Ross Sorkin (3:00)

Meantime, the big story right now. Oil prices rising this morning on fresh violence in the Middle East. Saudi Arabia's energy minister saying that some operations were halted after strikes by Iran-alligned Houthi militants in Yemen wounded people, maybe more than 70 people at this point. A military spokesman for the Houthis saying the group attacked Saudi's Ramco facilities in the country's south with drones and ballistic missiles. That follows US intervention over the weekend. Now, Central Command said that the military struck three Iranian oil tankers on Saturday in retaliation for Iranian ballistic missiles targeting two Navy warships. Meanwhile, an Iranian foreign ministry spokesperson telling reporters yesterday that Iran and Oman were closing in on a deal to manage shipping through the Strait of Hormuz.

Here in the US., AAA is saying that Labor Day gas prices stood at $4.15 a gallon. That's the highest ever for the holiday and equity prices moving the opposite direction on the back of all of this news.

Becky Quick (4:06)

Also, Canada's retaliatory tariffs on US goods taking effect early this morning. Those tariffs range from 15% to about 50% across $27 billion worth of US products, including dairy, agricultural, equipment and household appliances. Tariffs on US steel, aluminum and iron products doubled to 50%.

Canada calling the move a dollar-for-dollar response to US tariffs after trade talks between the two countries collapsed last month. Yesterday on Truth Social, President Trump called for a boycott of Canadian airplane manufacturer Bombardier. He said, if they want our market, they must build here and stop treating America like a piggy bank. Bombardier shares are off by 6.3%, although it is a little unclear who is expected to follow that. Would that be private companies? Would that be public companies?