Across the Aisle in 2027: Working with Rep. Jim Jordan 11/11/26

NVIDIA

Across the shows: 106 speakers in other episodes, 88 bullish and 62 bearish calls, past 30 days

• Robert Frank · CNBCBullish

  Trust-held Huang family shares make a spousal sell-off unlikely, a stabilizing factor for Nvidia's stock.

  Most of Jensen Huang's roughly 800 million Nvidia shares sit in trusts where he and his wife Lori are equal trustees, and for the irrevocable trust it is the trust, not the individuals, that owns the shares. Frank argues that if a divorce split led Lori to sell her stake, that sale would be hard to execute because the trust holds the shares, so the feared selling pressure on the stock is unlikely. He calls this a stabilizing factor for Nvidia shares, though the sell-off risk is reduced rather than removed.

  “That can't really happen, or it's gonna be difficult for that to happen, because it's the trust that owns these shares. So in a way, this is a stabilizing factor”at 14:37

US elections & politics

• Patrick McHenry · Lazard

  This midterm is historic, comparable to 1994 or 1974, and will be seen as one of the major midterms.

  McHenry rates the 2026 midterm alongside 1994 and 1974. He points to the incoming class being built around repudiating Republicans and to North Carolina Democrats winning congressional races with little money and no message beyond offering voters a choice. He argues the incoming House majority is further left than the moderate senators elected in competitive states.

  “This was historic, and I I rate this midterm like 1994 or 1974. This will be noted as one of the major big midterms in American history.”at 24:58

• Patrick McHenry · Lazard

  Democrats must focus 80% on affordability and 20% on investigations, or they lose in 2028.

  McHenry says a Democratic House that spends about 80% of its message on improving Americans' economic lives and 20% on investigations can hold Trump accountable while winning voters. If the balance flips to 80% investigations and 20% affordability, he expects Democrats to return to the minority and be poorly positioned for the 2028 presidential cycle.

  “If that's the balance, that's gonna be a winning message. ... But if they if they flip this and it's 80% investigations and 20% affordability, they're gonna be back to the minority”at 26:37

• Patrick McHenry · Lazard

  Jim Jordan's election as House GOP leader signals Republicans chose to fight and reflects a matured leader.

  McHenry says Republicans chose Jordan over Steve Scalise because they needed an aggressive leader to win back the majority in a tough environment. He says Jordan has matured since the October 2023 speaker fight, when colleagues denied him the speakership, and that his large margin shows he is now far more in touch with House Republicans. Pairing Jordan with Stephen Miller, McHenry argues, signals that Republicans are prepared to fight.

  “What the Republicans indicate, in choosing Jim Jordan is they wanna fight. What, president Trump indicated by choosing his longest and, most loyal, staffer, Stephen Miller is that they're prepared to fight.”at 28:24

US inflation

• Patrick McHenry · Lazard

  Inflation outpacing wage growth drove voter anger and the midterm result, as it does everywhere it runs high.

  McHenry argues the election was fundamentally about economic performance and wages being outstripped by inflation. He says that wherever significant inflation appears, people turn against their government, and that this, plus the sense that Washington got rich while Americans fell behind, drove the midterm outcome.

  “This election was about economic performance and wage growth being outstripped by inflation. Everywhere in the world where we see significant inflation, the people hate their government”at 27:24

Oil & fuels

• Pete Aguilar · U.S. House of Representatives

  Rising gasoline prices are a result of the Iran war, costing Americans over $800 more.

  Aguilar argues that the rising gas prices squeezing consumers are a direct result of the Iran war. He ties this to a cost burden of over $800 per American, and he says the figure is likely higher in his Inland Southern California district. He uses this to argue for tougher oversight of the administration. The argument rests on attributing the price rise to the war, with the $800 figure as his only quantified support.

  “the rising gas prices that people are getting pinched with is as a result of the Iran war. ... when the American public is paying over $800 more because of rising gas prices”at 42:15