the pursuit of outperformance at pgim. with deep expertise to outthink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> it's a hugely complex market, but very uncorrelated with assets that most people hold, and it's a country that is going to emerge from covid it's a country that is going to put its 22% youth employment back to work it's an economy that is going to continue to investment in evs, semis, et cetera, and it is a country that has declared that china 2025 -- made in china 2025 is a real thing. >> that was mary erdoes, and why she's pullish on china here now to join with her take is the founder and ceo of rockcreek. thank you for joining us good to see you. i think that you have a differing view >> it's good to see you,

join the pursuit of outperformance at pgim.management business of prudential. (♪ ♪) how do we demonstrate our unmovable strength? (eagle call) nope. how do we show that we'll stand tall through the storms? nah. (thunder) how do we make our clients feel secure and- ugh... not lions. (lion rumbles) we do it with our people. people who've been looking after people for over 170 years. >>> o.t., that's three hours from now. >> i'm watching. >>> adam park is on with me. we talked about jonathan crist's call, below 39, losing it, opening it -- we'll test him on that, of course, and other great stuff. louisiana-pacific, we just want to highlight it again. look at the stock. >> that's the first step in the improvement in the housing trade. it will be reflected in louisiana-pacific, and it's redib his cheap. >>> final trade? >> charles schwab. >>> shan >> nexterra. they have a lot of additional customers coming into that state. >> that was one of your dividend picks, too, just to reiterate. >> yes. >>> mr. wonderful? >> stay in the divid

the pursuit of outperformance at pgim.hink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. go. go smaller carbon footprint. go these footprints. go saving energy. emerson technology can help heat pumps replace fossil fuel heating for a cleaner, low carbon future. go blue skies go. go boldly. emerson. >>> mike santoli joins us for his midday word. i think it's often looking ahead to tomorrow. >> it pretty much is the market is in a familiar position just a month ago, heading into the july cpi number. the s&p had rallied from 3900 to 4100 over the prior ten trading days this time we've done exactly the same thing over more like six or seven trading days back then we did roll over pretty hard as the fed got hawkish and you had to conso

the pursuit of outperformance at pgim.ith deep expertise to outthink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> take a look at the futures here holding up after yesterday. interesting on a point basis, and i know that's a huge caveat, but it was the fifth biggest point loss in s&p history, seventh biggest for the dow. opening bell is coming up in a few moments here and, remember, you can catch up anytime anywhere just listen to and follow the "ua othsqwkn e street" opening bell podcast back in a moment this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an invest

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join the pursuit of outperformance at pgim. the investment management business of prudential. >>> well, the debate has been picking up lately including on this program about the future of the 60/40 portfolio. i asked ken griffin about that yesterday at the cnbc delivering alpha conference here's what he told me >> looks much better today than really any point in recent times. >> why so? >> we've got ten-year bonds at 4% when they're at 75 basis points or 1%, there's no real up side to the bond in a moment of a recession which is often characterized with inflation now with the ten-year bond at 5%, you go into a downturn and inflation heads back towards a one handle, all of a sudden those bonds are worth a fair amount more than they are today. that's a win in your portfolio that's in the green. when your equity portfolio is likely to be in the red. >> carrie, get the first crack at this one. >> well, obviously, we've got much higher bond yields. and when the market is going down everyone looks for a place not to lose money. so it

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join the pursuit of outperformance at pgim.he investment management business of prudential. >> announcer: the opening bell is brought to you by nuveen, a leader in income, alternatives, and responsible investing. >>> we're going to do all that we can at the federal reserve to avoid deep, deep pain, and i think there are some scenarios where that's likely to happen. this is something that is going to be hard it's not going to be easy. there will likely be some job losses, but i think if you look over the historical history here and our economic experiences, there's a really good chance that if we have job losses, it's going to be smaller than what we've seen in other situations, and that's what i'm banking on >> that was atlanta fed president raphael bostic on cbs's "face the nation" over the weekend. saying, look, soft landing is not going to be easy there's going to be some pain. fortunately, we're going to get 20 more fed speakers to see if they agree, just this week >> it's incredible, the amount of fed speak that's schedule

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join the pursuit of outperformance at pgim.e investment management business of prudential. >>> weighing on the tame, dow down 350 but have defensive names in the green today utilities, a new relative high, philip, j&j and 11 central bank decisions and we'll get to trading with jim in a minute with my hectic life you'd think retirement would be the last thing on my mind. hey mom, can i go play video games? sure, after homework. thankfully, voya provides comprehensive solutions and shows me how to get the most out of my workplace benefits. what's the wifi password again? here you go. cool. thanks. no problem. voya helps me feel like i've got it all under control. because i do. oh she is good. voya. well planned. well invested. well protected. finding the perfect designer isn't easy. but, at upwork, we found her. she's in austin between a dog named klaus and her favorite shade of green. it's actually salem clover. and you can find her right now on upwork.com when the world is your workforce, finding the perfect project manager, de

thethe pursuit ofs® outperformance at pgim.ith deep expertise to outthink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. 650. s&p down almost 100 points here. although we are holding above thursday's close of 4006 obviously driven by cpi running hot on both headline and core. and that's where we begin this morning. investors want liking what they're seeing on the inflation trend. treasury yields rising two-year back to a 15-year high. steve liesman joins us on the print and what the fed may do. hey, steve. >> good morning, carl. yeah, this august inflation number marked a huge disappointment for the market. it hoped the u.s. had hit peak inflation. that's not the case. bets were being made the fed could possibly do less rather than more

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at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $30 per line. there are millions of happy campers out there. and this is the perfect time to join them... see how easy it is to save hundreds a year on your wireless bill over t-mobile, verizon, and at&t. talk to our switch squad at your local xfinity store today. >>> good morning welcome back to "squawk box. the futures actually partticked little dow up 226 the nasdaq hit hard yesterday and hit hard as interest rates rising the wea

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join the pursuit of outperformance at pgim.ial. ♪♪ ♪♪ ♪♪ be ready for any market with a liquid etf. get in and out with dia. . >>> a rush of americans are pouring into the london and uk property market. they're taking advantage of a significant and perhaps rare currency discount. robert frank joins us with more. >> good morning. with crisis comes opportunity. a year ago an apartment in london that cost 1 million pounds would cost $1.3 million you add in the decline in home prices, you have discounts now of up to 20% or more steve schwarzman of blackstone just bought a 2,500 acre estate west of london he paid 80 million pounds. he saved up to $20 million based on currency. the number of u.s. buyers looking in the uk is now up over 20%. mostly looking in london compared to the peak prices in the uk back in 2014, the combined price and currency drops give you discounts of over 50% in the nottingham hill areas and 40% in may fair. what do you get for your dollar? this georgian townhouse has 11 bedrooms, 9 bath, indoor pool, 28.5 mi