to talk about this and the balancing act that the ecb and fed are talking about is gina sanchez. ave the decision coming out at 7:45 a.m. new york time gina, what is the ecb going to do >> the ecb has better psychology than the u.s. for adjustment this is not taper. this is adjustment the adjustment in the range of 10 billion euro to 20 billion euro in the production of the p.e.p. program what that means is that, you know, the eurozone is experiencing a couple of things at the same time one, they have overtaken the u.s. in terms of vaccination rates in august. they have now a more highly vaccinated population. growth in the ecb is definitely turning up and that growth is being revised up dramatically. it went from 4% expected growth at the end of the year to 4.8% since april. and cpi is coming in pretty hot. 3.3% year over year. that will be a little challenging for the ecb not to do something so, you know, the anticipation is they will make an adjustment and will probably beat the fed the fed has a bigger problem that the psychology is opposite. we got ahead of expectation. now w

let's bring in gina sanchez. the next couple of stories here and santos reo santos, it's not all spacs problems even regular ipos aren't doing that well. why? >> i think compared to last year's second quarter you're going to have a different ipo market you had blockbuster ipos last year so, the comparison is not great. i think investors have become very selective they are -- i think companies focused on data, enterprise software, cloud and all that, the selected markets that are going to be around in the post-pandemic world are doing well, will continue to do well and the companies that are struggling off the gain in terms of revenue growth and all that, they've been punished. overall i think the valuations were high. they're getting more rashal. rashal. so, you will see them settle down as the news flow comes in, you will see them do well. but the fourth quarter -- we'll have some good ones in the fourth quarter >> gina, okay, so, would you -- is it that spacs spoiled things for everybody, gina? or is it that as

let's bring in matt and gina sanchez. gina, you say you love the banks. love is a strong word. actually really benefitted from bank performance this year. bank of america in particular has been a strong performer and part of that is they suffered with net interest margins and were able to make up some of that with trading activity and fees going forward so much has been priced into the stock price that even we recognize it will be a hard hike from here. we've hit peak macro and it will be hard to beat expectations >> what should investors be mindful of >> it's kind of leveled off just this week and it's digesting the gains it saw in augment it's normal and healthy the one thing we have to be a little wary of if it rolls back over, watch the two day average. if it breaks below that, that will raise a yellow warning flag on the kbe, the bank etf if it can rally and break above the 53 level it will take it above a multimonth trend line. so that's going to be doubly bullish and give it the upside momentum i think that could give it a strong rally. we'll see how things play out over

inflation really transitory joining me to discuss, maybe even to debate, legal advisory group and gina sanchezegist at lito advisers peter, i know you've been warning for some time that cost pressures will remain elevated, ho how elevated and for how long? >> as we progress to 2022, they'll get less elevated. the question is do we go back to where we were pre-covid with consumer prices printing 1% to 2% or do we have for a period of time a higher plateau? is it 3% to 4% instead and i'll argue that 3% to 4%, while it's slower than the rate we're seeing now is a big problem because $15 trillion of negative yielding bonds is not a good setup with 3% inflation 1.3% 10-year yield is not a good setup with 3% inflation. s&p 500 trading at 22 times earnings is not a good set up at 3% inflation >> so, basically, peter, you think that there's no -- i'm almost starting to wonder if we had 3% inflation if people would still hold treasuries. i don't know if the yield has -- i know that flies in the face of how finance is supposed to work. but it seems obvious we're going to be at higher than 1.3%, but mayb

so, here to break down the headlines, we welcome jon fortt, gina sanchez, and e na freed we are thrilled with reddit. reuters is reporting that they are seeking to hire advisers for ipo. the company was valued at $10 billion in a private funding last month sources say that reddit helps value at more than $15 billion but like robinhood, could reddit turn into a meme stock, jon, or is that the point? >> i love you've got john, ina, ina. you've got the separate reddit the product from the potential stock. $10 billion sounds like a lot until you consider pinterest at 36 billion, triter 30 billion, snap, facebook but reddit was founded a year after facebook and a year before twitter. so, why is it going to grow faster from here when it grew slower up until this point >> that is a very interesting point. let's get your take on it. is this the type of company you would want to own? has the retail trading boom postpandemic unleashed a whole new possibility of frontier or whatever you want to call it from reddit's future evaluation? >> that's possibly however i agree with jon that they've been ar

them >> next up a fellow apd officer with gina sanchez, tara had called her when she learned regina hadto pretty much just get mad at me ask what was going on. >> was he upset? >> yes very. >> an investigator showed that not long after the phone call someone had typed in a web search on the levi's computer. how to kill somebody. >> after the how to kill somebody surge there was a web page that was visited and that's on how to kill someone. the states implication that levi thought murder might be easier than divorce, the prosecution said levi had grown tired of tara >> that computer shows you that something is going on. he tells terror he's holding him back. called him a hopeless piece of skin. >> and the prosecution suggests that leave i have a plan to get rid of tara for new girlfriend heather hindi. she was the other cop who got to know levi in the weeks before terrace death. >> you have indicated that you didn't start a sexual relationship until the end of november of 2007 63 days after tara died, the man who wants tearfully told aaron jones that he would never get over his wife suic

we'll be spotlighting our own cnbc employees here's gina sanchez. >> my grandma came across the bordergure out how to survive. when i then left south texas, which was almost all hispanic and went to harvard for the first time, i was far away from home i had such family support. it's really rooted in the family my grandmother, my mother, those are the cornerstones in my family and i believe i was going to be a cornerstone as well. what happens when we welcome change? we can make emergency medicine possible at 40,000 feet. instead of burning our past for power, we can harness the energy of the tiny electron. we can create new ways to connect. rethinking how we communicate to be more inclusive than ever. with app, cloud and anywhere workspace solutions, vmware helps companies navigate change. faster. vmware. welcome change. >>> welcome back time for a cnbc news update with shepard smith. >> hi, wilf. from the news on cnbc, here's what's happening emotional testimony in d.c. today. olympic gymnast simone biles and three fellow gymnasts accusing the fbi of turning a blind eye to larry nassa