Squawk Pod: World Cup bets, HUD Secretary, & an unconventional IPO - 06/10/26 | Audio Only

Watch on YouTube ↗  |  June 10, 2026 at 17:38  |  38:37  |  CNBC
Speakers
Contessa Brewer — CNBC Correspondent
Brad Briner — North Carolina State Treasurer
Dan Murphy — CNBC International Correspondent (Dubai)
Scott Turner — U.S. Secretary of Housing and Urban Development

Summary

CNBC's Squawk Pod discusses SpaceX's unconventional $75 billion IPO, with North Carolina's treasurer cautioning that the $1.75 trillion valuation looks fully priced. The show also covers the World Cup as the biggest betting event ever, boosting sports-betting stocks, while HUD's secretary links housing costs to regulation. US-Iran tensions are reviewed but oil markets remain calm. The episode highlights pension fund stakes in private AI names and the challenges of accessing such deals.

  • SpaceX IPO is fixed-price, retail-heavy, and bypasses traditional conventions; order books close soon.
  • North Carolina Treasurer Brad Briner passed on SpaceX private investments due to full valuation, will own via indexes.
  • Briner's pension fund holds stakes in Anthropic and OpenAI; Anthropic seen as a mispriced AI opportunity.
  • HUD Secretary Scott Turner says deregulation could cut $100k per home, boosting affordability and construction.
  • US and Iran exchanged strikes, but oil prices remain subdued as diplomatic off-ramp hopes persist.
  • 2026 World Cup expected to generate $50 billion in global bets; Flutter, DraftKings, Rush Street, Genius Sports, and Sportradar seen as beneficiaries.
  • CPI data shows inflation in line, Fed likely to hold rates rather than hike, per Steve Liesman.
  • Prediction markets face potential new CFTC rules, including bans on certain wagers.
Ideas
Contessa Brewer CNBC Correspondent 12:38
World Cup catalyst for betting stocks
The 2026 FIFA World Cup is expected to be the biggest sports betting event in history, with Macquarie forecasting $50 billion in global wagers. Flutter (FanDuel parent) is best positioned due to its global reach; Deutsche Bank estimates FanDuel could take in $1.3 billion in the US alone, DraftKings $1.1 billion, and Rush Street Interactive could see outsized gains from Latin America. Data providers Genius Sports and Sport Radar will also benefit, with Sport Radar recently announcing a deal with Kalshi. The event provides a massive catalyst for sports betting stocks.
FLUT RSI DKNG GENI SRAD HIGH
Brad Briner North Carolina State Treasurer 33:24
SpaceX fully priced at $1.75 trillion
SpaceX is an incredible company but at a $1.75 trillion valuation it is fully priced, leaving limited upside for a pension fund seeking high single-digit returns. They had opportunities to invest at lower valuations but passed because they did not think it was appropriately valued. They will get passive index exposure, but on the private side they avoid due to valuation concerns, suggesting investors should be cautious about chasing the IPO at lofty levels.
SPCX MED
Up Next
12:05
The market reacts to President Trump's Iran threats
CNBC · Jun 10
21:24
Iran War Update: Trump Says US Will Resume Attacking Iran 'Very Hard' (Q&A at Oval Office)
Bloomberg Markets · Jun 10
3:53
Former NEC Director Gary Cohn: 'Kevin Warsh's Fed will look different than the Powell Fed'
CNBC · Jun 10
6:58
Seanergy Sees Strength in Commodity Demand
Bloomberg Markets · Jun 10
18:45
Why Grant Cardone Is Combining Real Estate and Bitcoin
CoinDesk · Jun 10

This CNBC video, published June 10, 2026, features Contessa Brewer, Brad Briner discussing FLUT, RSI, DKNG, GENI, SRAD, SPCX. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Contessa Brewer, Brad Briner  · Tickers: FLUT, RSI, DKNG, GENI, SRAD, SPCX