first, american express is decelerating growth.wth rate is slowing versus where it was this year. although, given how much the stock has fallen, my sense is that's baked in the cake american express grew at an incredible pace out of the worst pandemic and worst period of pandemic actually. of course, those numbers would decelerate as the comparisons get more difficult plus, they're still growing at a 20% plus clip. most companies would call for the numbers. second, this is really a big one. american express had higher than expected provisions meaning setting aside more money for bad loans. wall street was looking for 574 million. everybody is terrified what will happen to the earnings when people default on credit card bills. that's what happens. i think the bears saw this number and took it as justification of their fears then many you look back historically, that number is really nothing the third quarter of 2019 when the economy is booming with hardly any inflation, american express had 879 million and the number this time was h

people, especially the american express consumer is paying. from his perspective, the uptake of new platinum cards was as -- at a record level. this is a company that to his mind is firing on all cylinders. he is not laying off any of his particular employees. the dusty resilience when it comes to travel and spending. alas the question he asked me. have you trade your spending habits with inflation yet? >> i would like to come see you in new york. i would like to get out and travel so yes, the answer is yes. caroline: you would like to, have you stopped buying that ticket yet? >> i think i have enough food supply from the pandemic. so there you go. caroline: and enough toilet roll on site but that is his point. we are seeing softness but not in his kind of consumer. >> certainly something we are going to keep an eye on. we thank you you us always. elon musk's twitter deals facing another potential headwind from the u.s. government. this is bloomberg. ♪ - in the last two years, we quadrupled our team and the pace we're growing, i couldn't keep

american express is still down 136 bid, 136 ask after a 142, 142 close yesterday.inners are being led by caterpillar, dow and merck you're watching "squawk box" and this is cnbc 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. our internet isn't ideal. my dad made the brillant move to get us t-mobile home internet. -which... we have to share our signal with the entire neighborhood. yeah, now we do some weird things to get our speeds. well... i'm up. -c'mon kids. this sucks. well if you just switch maybe you don't have to be vampires. whoa... -okay, yikes. oh sorry, i wasn't thinking. we, uh, don't really u

verizon reporting double beat on earnings and revenue both down american express down almoster don down two and a quarter percent joel good to see you. thanks for being here what are you expecting from macrostory are you in camp seevers curve balls economic slowing in the year ahead. >> no question we are going to see economic slowdown we've got rising interest rates you announced a few minutes ago ten-year high as it has been long time action in yield curve short periodn one year -- highest rates yield curve, one year almost 4.7% a lot of action short term indicates more and more rate hikes going to dampen enthusiasm for the market. at some point housing data is going to kick in to cpi a lagging indicator inflation starting to subside going to see markets recovery, a year from today we think markets will be much higher may have christmas rally depending on december rate hike, but next few months going to see revised expectations similar to today forward earnings coming down. >> i am glad you mentioned housing one area you can see the direct impact of higher interest rates, w

american express was at 21 pe a year ago i would say american express was that classic great company,d expectations for the company. they are one of these companies that benefits from inflation when the prices go up, they get paid a percentage of transactions so, if there's 10% inflation and everything holds constant, their revenue will naturally grow by 10%. i think there were some high expectations built in. and the quart over quarter, her customer numbers weren't great they did well versus a year ago but not so great versus a quarter ago. so people are worried their business is slow >> yeah, for sure. and just when it comes to, i guess, the broader financial area, you mentioned goldman sachs. again, it seems as if people are wary committing to these stocks because it feels as if there's obviously heightened recession risks out there and you don't necessarily want to be buying before we get to the valley. >> absolutely. but what is the best adage for investing and it's hard for us to be short-term investors, but the one thing you want to do is be greedy when others are fearful and f

american express hitting is interesting to me. to understand, if spending habits are changing, white as having -- why is revenue coming in late? tom: total return per year, to put a 3%. i don't know what to do -- 2.8%. i don't know what to do with that. lisa: coming in less than junk bonds in terms of returns. how many have come on saint utilities where the haven. we will be hearing from european leaders today. this is the second day of the summit in brussels talking about price caps. tom: what is important about this? lisa: number one, i want to see what they have to say about liz truss' resignation and how they are addressing the energy crisis. and i'm on -- want -- and i want to understand, what do they have plan for the winter after and after that? tom: tom mackenzie will give us an update in a little bit. your conversation of the day, the diversified portfolio. sarah hunt joins us. we would like to have him -- her on with the linkage of the babel and what do you do in the market. how much cash do you hold right now? sarah: we

>> i'm going back to american express. longer term, this is a stock you want to own.ed today. you want to own high quality company, very good franchise >> you like financials in general? you think we've got a reboot to those names, which have not done anything until earnings started, and they finally got a little kick >> i do. and you look at the morgan stanleys and goldmans of the year, their earnings for capital markets is just shut down. a great opportunity to own those. >> we are just off the highs of the day. a pretty good one going. i'll see you in a few in o.t the exchange is now. >> thanks very much, scott welcome to "the exchange." i'm dominic chu in for kelly evans. we've got all the angles covered on this very busy friday for the markets. stocks heading higher. they are bid, but bond yields are sinking as the fed officials hint that the pace of hikes may begin, may begin to slow and then the yen, tumbling against the u.s. dollar. and snap, by the way, falling 30% after its results is the weakness it saw in advertising a sign of things to come for other big

american express, achiever levered to travel, i can get behind that, but capital one had -- that's amer that has access you're packaging them up and selling them in clos >> the other side of this thinking about the danger that lurks? >> you see what's going on in london right now we opened this show, talking about nothing but the volatility in sovereign markets, and so i'm just making a differential between an american express with a much higher credit quality consumer, versus a capital one i think the loan growth on those two shouldn't be treated the same >>> coming up, options with a little electricity are there more gains to come what options traders are betting for the luxury maker >>> and we are celebrating two of our cn. contributors. here's one >> i was born and raised in puerto rico. then i went to college in the midwest. it open my eye to say a world of possibility, to pursue the american dream yet hurdles exist. the most dynamic economy in the world, and by the way, his span success is american success. our heritage is part of the american story american story i'm proud tor

and so american express is catering to that top half. their numbers are pretty good. maria: yeah.o how do you invest in the face of all of this, then, phil? i mean, look, you've got a situation where ceos are coming out left and right, talking about a recession. are you in that camp, like jamie dimon saying an economic hurricane is on the way, stock market's going to sell off another 20% from here? >> we've been there all along. this year. we think we are in a glidepath into recession next year. we took our equity overweight from 5% at the end of last year. we're 1% underweight equities right now. we've got a 10% cash position c- position. we're playing defense right now. maria: that's interesting about your cash position. you mentioned that on the show before. bryce, i want to get your take on this twitter story unfolding. elon musk apparently reportedly wants to lay off 75% of the twitter workforce once he takes over the company but company officials say there's no plans for job cuts right now. the twitter musk deal expected to close next friday. and now we're hearing talk about

i want to revisit american express. i know american express dook a vision but they expect more business this travel quarter. it's funny. if american express reported tomorrow the stock would be higher because what visa is saying and confirming to a lot is that in the new war, which is what we feel we went through with covid. we feel like we've won. if we have won that means go places. boeing has 787. that's why i like american express and visa, which no provision is in pursuit. >> interesting. contrast to american express last week the stock of which went down because of that perhaps larger than expected provision. their point is because we're doing more business. but the overall point, people have been traveling for quite a while. the question is would it diminish it doesn't seem to be. >> no. carl this psyche of america has changed. i'm not just talking about the people who today three-day weekends because they are not working as hard and we can debate that. >> or kirby said they travel on days they didn't normally. >

american express, now, i've been a card holder for years and years, and the topline numbers look very. spending is terrific here, if you look at consumers up 22%, commercial's up 20%. new card growth, 3.3 million, all that looks really heavy. excellent. but people are focusing on that one provision, 778 million, that's roughly 200 million more than anticipated, so again, everybody's saying, aha, amex is anticipating a slowdown because that means they're expecting more chargeoffs down the road and slower consumer spending none of this has actually happened yet, but people are projecting here, and this is a good example of focusing on one number you think europe and luxury would be doing pretty well around the world we heard from pernod ricard, and their numbers were outstanding, the second biggest spirits maker in the world their numbers were generally very good but the other luxury makers weren't that great. kering talked about solid sales but the gucci business was a little weaker than expected. we saw l'oreal's luxury business missed as the company noted lockdowns in chaina. we had

and verizon on the earnings front, american express reporting profits and revenue that eat estimates raised its full-year guidance but investors taking their own profits, down 3 and one 12:45%, verizon reporting profits and revenue that beat the street but reported a smaller number of net phone ads, enough to push stock down 5%. back to the report on the fed. the central bank is expected to hike rates by 75 basis points but what about december half of 1%, some fed officials hinted, 3 quarters of 1% beyond next month believing there is danger in raising rates too high. some officials say they want to see proof inflation is falling before easing up, the possibility of a debate, to give markets a boost today. that could change as a rumor starts to surface. neil: i want to go to aishah hasnie, republicans on the same page are excited about taking over the house, in the senate, doesn't mean they are on the same page themselves. >> reporter: a couple days ago we were talking more money for ukraine, whether republicans were all on board. kevin mccarthy isn't even house speaker yet, the hous

. >> woke trend taking hold in corporate america you've got companies like coca-cola american express ratio justice training disney he consumer facing changes doubled down on criticism of florida parents right bill in response to being active disney, ceo, are shared a quote i think disney is a company survived for 100 years catering to audience going to survive next hundred degreed years catering to audience this ideology is coming from a majority of consumers many fans push back disney lost magic professing won't visit theme partials again, we are seeing this across the board lawsuits at american express calls for companies to stop straying into that space even former ceo lvivi strauss claims she was pushed out for pushing back. >> a distraction, a lie frankly, there is no justice. underneath but a way to distract consumers as well as employees. >> many servers are frustrated as well concerned companies are catering to vocal minority rather than serving fiduciary duty responsibility to shareholders, disney could lose favored status in florida see if backlash continues to grow monitor

speaking pretty good >> american express out at 7:00 a.m. verizon at 7:30. john, thank you.n blank >>> now to exploring more controls that would limit china's access to some of the most powerful emerging computing technology eunice yoon joins us from beijing. eunice >> reporter: seema, the biden administration is reportedly mulling ex-expansion of export controls this time on quantum computing and artificial intelligence software this is after restrictions on advanced chips for china for exports of the chips, the sale of chip production equipment and also the support having u.s. persons or so-called u.s. persons supporting the development of the industry here all of these restrictions go into effect as of today. talk of the new tech export controls hit the share prices of chinese chip gear makers some investors picked up chip stocks on the anticipation that the chinese government would be funneling more money in the form of tax breaks or subsidy into the sector tech self reliance has been the theme at the ongoing party congress and xi jinping said this is very important for

[laughter] reggie: we prefer american express, actually. if you have a platinum card, drop it in. >> good news about american express, i shut that down before you even start buying stuff. reggie: always great to see reggie: new at 6:00, amazon will soon let you pay at -- with then mow. just add it as the payment instead of a credit card. they wanted to add more options to make paying easier for customers and should be available to all u.s. customers by black friday. a new development in the battle over 5g near airports. the faa is asking brotherregulag the service andoncern the signals could interferegnall for landing in bad weather. re toel thee service near some s this year and they are hoping to delay it until airlines can update their equipment. a new warning from the fda this morning. mighty bliss heating pads could pose an injury risk. half a million heating pads distributed between july of 2021 and 2022 are recalled. the fda has received over 200 complaints about overheating, sparking, burning, and other electrical issues. you are ur

american express offered guidance below consensus. elt to me that travel and entertainment maybe was peaking a little bit. do you still like american expressesome. >> i do still like american express but, you're right, because they are tied to domestic travel, domestic travel is really back to pre-pandemic levels. that's no longer a big driver of this one. but they do, because they have a balance sheet, they still have a lot of tailwinds from loan growth which, as i was highlighting, is still well below pre-pandemic levels. that's really the driver for amex. as for visa and mastercard, they're seeing -- charles: their loss provision went up a little bit, and that spooked a few people, but it's nowhere near red flag zone, right? >> oh, no. i mean, miles below. pre-pandemic charge-off rates were 2.4, 2.5% for am a ex, they're now at 0.8%. the reason that that they have to provision has more to do with the macro economy. it doesn't have to do with their own delinquencies and charge after offs -- charge-offs. charles: you were talking abou

it's for environmental -- to point out how much more environmental they are then american express is one of the most exasperated most understood businesses and quarters i've come across. american express is in the strongest shape i can recall and the growth is off the charts they need to up the long provisions that's what happens. everyone is freaked out by that provision but the company is firing on all cylinders. the number wasn't particularly bad. it was embarrassing how people sold amex in response to a true upside surprise. i could have picked ten more winners, didn't mention the airlines they were great. these were telegraphed and greatness was well-known i didn't bother with any of the smaller banks, yet, they were terrific, too. the bottom line, the take away from the ones we're really looking for, the companies really important, listen to me, the real take away is earnings are sharply better than expected and that not just the idea that the fed might pause the rate hikes after some meeting which would drive the markets new found strength the earnings are real good the survey

we do have an interesting financials downgrade today it's american express to sell, which you don't seet often at citi. price target to 130. there it is 139, so they think it's got a little bit more down side about 5%. that's from 159. reaction >> i don't think it's a good call i mean the stock's 12 times earnings it's a bank. they've got a lot of cash. that cash is earning more money. travel is very strong, and american express caters to more affluent customers, and those people are traveling, and current buy they still are spending money we feel at this price it's fully discounted or a lot of it discounted in terms of a recession. we don't think it's a good call. >> okay, so we've got these bank earnings coming tomorrow, weiss. you've got bank of america, goldman sachs. you talk about how you barely have any positions in the market these are ones you've kept so i'm wondering where expectations are ahead of tomorrow morning >> so i reduce those positions like every other and still hold now and i kept those frankly because i like how those are run. it's a leadership call i think both ce

down day before the open, and some of the earnings weren't particularly helping, particularly american express, and we also had higher yields but that has turned around now, look at this. we've got a nice up day. in fact, we're just off of the highs, and a nice up week, in fact the dow jones industrial average, up almost 4% for the week and so is the s&p. and so is the nasdaq it's a fairly broad rally for the week and i think part of the turnaround and most of the turnaround happened with yields. remember, we're slaving to the macro economic picture, and that is basically what the two-year yield and the ten-year yield had. earlier on, the yields were up and they went the other way, around 9:00, there was a "wall street journal" story, as dom referenced maybe they'll start pausing a little bit but it definitely moved bond yields to the downside and that helped move stocks up the other big stories, the earnings picture kind of a mixed picture. overall, earnings have been better than feared, but amex kind of surprised people by having fairly large provisions that were put into their estimates, an

never tied from the big-time attorney on wall street, he used to be the general counsel for the american express. that's what but that's not what we are here to talk about today. >> one thing and we will get to the museum quickly but when the congressman, when you lost the election in 1970, newly elected if governor john west to was a fellow student. saw james clyburn's character in the way that he would be appointed to be the first director of the south carolina human affairs commission. and then the congressman went around the state and making ties and connecting businesses and interested in other interests together and enable south carolina to move forward into more racially together community. >> absolutely, and reflected on my statement, as i said earlier, of what happened in that election. the senator said it looks like that i didn't get enough votes. and i held that, it looks like a didn't in enough votes. and on that thursday morning, i talked to the reporter and on that thursday morning, john had been just elected governor of south carolina, growing up which was nothing but a putting gr

and from molar for the need for the fact that what they call on it can only competition from american express. you could possibly result in transit long take trade war.

expressed. they took away conscious right from the american people. already recognized. it didn't limit it simply took it away, has never been done to right. so important to so many americans. but they did, it is a sad day for the court and for the country, 50 years ago, robi way was decided who's been long, the land sent this landmark case. protect the woman's right to choose a right to make intensely personal decisions with her doctor frank manor. from new firms to politics, reaffirm basic principles of the quote. women are the power to control their own destiny and reinforce a fundamental word of privacy. right? of each of us, choose how to live our lives. now we're grown must be very clear. the health and life of women, this nation now at risk for from your pennsylvania. my name's abby, this is my daughter sophia. we are here to fight for women's rights something that i've had my entire life. now i have to be here fight for my 13 year old, that same rights i've had my entire life. that's why they think they're on right now. and what they think about the decision that

but i guarantee you, it did not start with the swipe of an american express card. so whether it's the attack on first amendment rights or the attack on second amendment rights, you're seeing that she's just so uninformed and seeking to rule as if we want to have an emperor governor and we don't. mark, do you think we take back new york eventually, then later on , maybe new england? >> do you feel a change real quick? oh, no, we do. listen, we're going to win the 19th congressional district ,going to flip the house of representatives is going to win new york . we're going to start to bring common sense back to washington and albany congressmen and mark ,thank you both. up next, tulsi gabbard joins us live from a carrier lake rally. >> the big announcement, don't go anywhere. by dumping biden is the most protected person in the country. money laundering, illegal foreign lobbying. you have the latino influence, big guy. email. the son of the vice president is doing deals funded by the chinese government. there are so many pieces of evidence the media has ignored becau

thisa is according to an annual report by american express prices will be increasing depending on your destination hotel rooms in san francisco are expected to go up by 7%. new york about 8%. if you're looking for a travel deal rate increases in the asian pacific region are expected to be modest. sydney is going up by 4% in hong kong. hotels will increase by about one percent. all right. time for another look at the forecast on this friday night. and the boy pretty jammed up at the bay bridge toll plaza. but it is friday night. it is. and our chief meteorologist lawrence karnow joining us now to look at. >> the weekend ahead of maybe going to a pumpkin patch right now. you know, it's that time of year, you know, we're talking about inflation. all the prices of the hotels going up. we've got for fun, free things for do this work. hey, there going to be a really a neat events. if you want to go out. >> enjoy this. just going to be a beautiful sight to see. this is the great glass pumpkin patch. you know, you're going to see a lot of pumpkin themed things coming up as we're going to see m

we'll be hearing from american express, j&j, ibm, netflix, tesla and verizon. meantime, small businesses are stocking the shelves early for the holidays this year and waiting to see how much shoppers waeed down by inflation feel like spending. the national retail federation says that november and december typically make up 20% of annual retail sales. this year small businesses are bracing for more muted season because of inflation. consulting firm alex partners is forecasting holiday sales will rise between 4% and 7%. that's a far cry from the 16% gain we saw last year. meantime, apple is working on a dock for the ipad that would allow the tablet to work as a smart display and speaker. bloomberg reports apple plans to introduce the new function as soon as next year converting the ipad into a device similar to the amazon echo show that you can put on top of a counter or on your night stand. you would be able to make calls through facetime and gain hands-free control of other smart home devices. and you wouldn't have to worry about not saying her name which in my

so if you american express with december the 7th. 1941. japan's force is attack pearl harbor. the main u. s. military base in the pacific. america is forced to join the war. it's vast industrial base which had been used for the manufacturing civilian technology was quickly re orchestrated to produce munitions and tanks and aircraft and naval vessels for funding of the war. as early as summer 1941 stein raises the question of opening a 2nd front line with churchill. but the british prime minister declines citing difficulties with true deployment. roosevelt promises that the u. s. army will land in france in 1940 to lay to us churchill to his phone stolen that the operation will not go ahead. churchill flies to moscow. b, a . the situation on the soviet frontline is dying. the nazis are advancing to the coupon. i'm north caucuses and are approaching stalingrad, stud and sun sr. lieutenant jago gush really is in captivity and announce the concentration camp. don skipped him yet, but he a whole must court now which and to roland options. virginia, california. here by lim fork to j

gears and ask you about the letter that a you and other senators sent to visa, a mastercard and american expressu warned them not to move ahead with their plans to track gun purchases. what should we know about this? >> yeah, maria. well, woke financial institutions are using esg to defund, to debank the oil and gas industry. now they're using this, these esg scores to do an in and around our second amendment, basically creating a gun registry. we should all with worried when senator elizabeth warren is taking a victory lap and praising an action, and then she basically cites these credit card companies can work hand in hand with the government to track our gun purchases. that's why i led this letter with 12 senators as well as 23 state attorney generals including my state attorney general, derek schmidt, very proud for his efforts on this, warning them that if they do in this, heir going to be sued, and we're going to do everything we can to fight back. maria: unbelievable. you've only got less than 50 days until the midterm elections. how are you feeling about this race right now with all of t

he used to be the general counsel for american express. that is what came out of those classes, every else going to talk about, but that's not what we're here to talk about. >> one of the -- things we will get to it here quickly but congressman, when you lost the election in 1970, the newly elected governor john west, fellow students, simple -- saw jim kleban's character. and the way that he was raised, and was appointed to congressman plaid man, who would be the first director over south carolina human affairs -- and then they, governor, west really went around the state. making, ties connecting business interests and other interests together. and they moved forward racially together. >> absolutely absolutely. reflected upon my statement. i did not say. earlier when i was asked what happened, in that election, it looks like i didn't get enough votes. and when i was pressed, it looks like i didn't get enough votes. and that was to headline on that thursday morning. get the, message have the election. he had just been elected governor. and

we've been speaking to american express on international security issues marks, lebeau to veteran greek diplomat. lee, and it is chris on populace and human rights fluid duncanville many thanks to 3 of the really appreciate your time. thank you. now moving on, the us is reportedly desperate to secure cheap oil imports from venezuela. and i said to be in talk to e sanctions on the madeira government and exchange for energy supplies. it comes off of the opec plus group decided to slash its oil output, which is expected to keep fuel prices high. meanwhile, the largest us, the oil trade groups, wrote a less energy secretary jennifer granholm. so they're very concerned that washington is considering limits and gives feel exports in order to know what consumer prices. they said this move could only disrupt global markets, reduce domestic were fine and capacity and alienate u. s. allies passes to find and is being called out by a prominent fox news home. stay with this sabotage at the north stream gas pipelines from russia to germany. where might some americans have gotten the notion that the

forward against the assassination if they had been consulted, according to them, after which american officials expressed their dissatisfaction with the ukrainians in connection with the assassination. here it is possible to regard it as? well, a certain signal to ukraine that, and you will be responsible for your actions yourself, that is, that the united states will not take responsibility recently and in the territories that have fallen under russian jurisdiction there has been a whole series of murders and attacks on representatives of local authorities, car explosion in kherson temporarily, the acting head of the duty department of the traffic police, major smeshin, murdered the deputy military of the civil administration of the kherson region alexei kovalev and the head of the administration of nova kakhovka vitaly gur. this is far from a complete list with the goal of ukrainian militants becoming anyone who expresses sympathy for russia is a good example of an attempt on the life of the rector of kherson state university tatyana tomilina, who was tried to blow up in the entrance of her own house,

we are getting house of data and fed beige book thursday earnings american airlines, verizon american expressonomic data you know not to dig into granular part with you will shed light on how economy is doing we've talked to about consumer earlier tie, really important in our system how companies and corporations do even though democrats like to attack corporate profits they keep economy checking. >> i am looking at september housing starts the most interesting to me i know anecdotally where i live sales evaporated, 7% nothing moving right now you have to be insane to buy a home prices have not come down that much, but to borrow that much higher i have a feeling a very, very important number. >> is right housing starts soared from july to august they are going to -- markup september that is going to be a vindication things to come what lies ahead, the damage, being done to the economy, by a stepest year-over-year increase by 30 we are mortgage yield since 1981. coincided with very deep recession. jackie: if we get two more 75 pint base hikes before end of year where do you see mortgage rates

today amid worsening inflation concerns apple and american express were among the biggest laggards theelow the 30,000 mark after losing more than 400 points the nasdaq was down more than 327 the s&p lost nearly 87 the markets fell as concerns emerged about inflation yet another signal that the federal reserve will have to continue raising interest rates raising the risk of a recession. two of the largest grocery chains are set to become one and they'll make american history in the process kroger announced it will buy rival albertsons and a 24.6 billion dollar deal that makes it one of the largest mergers ever in american retail history the companies have about 5,000 stores total albertson owns safeway. lucky andronico's vons and many more brands kroger's stores include food 4 less, foodsco, ralphs and others as well federal regulators must of course still approve the deal which will probably probably take two years to complete. should gasoline refiners rejection the money sent to you. i'm seven on your side of the michael finney and we'll look at the proposed windfall profits tax next.

morgan, american express, walt disney, big names there and s&p 500 winners, show them to me please.rporation. for whom i work. susan: the news is recombination possibly. stu: yep, nvidia is on that list and generac, up 5%. nvidia, microchip, auto desk and more. susan: is this because the market is oversold at this point? they just want to buy? stu: could be. it's a very nice bounce. thanks, susan. coming up, former congresswoman leaving the democratic party and joe concha saying she's the voice of reason. listen to what president biden said about britain's prime minister liz truss' tax cut plan. roll it. >> i wasn't the only one that thought it was a mistake. i disagreed with the policy but that's up to great britain to make that choice, not me. stu: appears morgan is calling out the president for being, i'm quoting now "disloyal". he joins me mome momentarily one set. two nice british accents together. next. ♪ >> don't you love this, mondays morning and look at your money and it's going up. dow is up 660 and nasdaq up 340. nasdaq up 3.25%. that's a significant gain. got it. take a

i guarantee you it did not start with the sweat of an american express card.the attempt on first amendment rights or the attack on second amendment rights, she is so uninformed and seeking to rule as if we want to have an emperor governor and we don't. >> laura: marc, do you think we will take on new york and new england? give you a change? >> marc: we do. we are going to win of the 19 district. lee is going to win new york. >> laura: congressman and marc, thank you both. tulsi gabbard joins us live with a big announcement. don't go anywhere. >> we have seen the involvement of this whole performative kind of politics. from sarah palin to what we have now. >> teri leiker -- seem like she has the champion ability. >> sort of performative representation rather than actual representation. i suspected that is what they will get with teri leiker. >> laura: it is ironic that they accused her of performative multics when that is all they have. they are part of the left's empty promises, the woke identity multics and so is tulsi gabbard. she announced she is leaving th

top of that list, i'll tell you right now, it is american express having a good run recently, home depothere, coke, sales force and boeing up there as opposed to s&p 500. i don't know that one. don't know what that is. intuitive surgical and look at that, up 4%. nasdaq winners, paypal up 4%, intuitive surge gal up 4%. zoom 2% and velacian corporation up 2%. president biden forgot how his student loan bailout got passed. the white house had to come out and correct his statement. in a new video, putin seeing iv marks on his hand so there's speculation he's fighting cancer. it's pure speculation. but we'll bring it to you anyway. president bind criticizing mega maga economics and got a certain ring to it. i wonder what larry kudlow says about that. he worked in the trump administration. he'll take it on, next. ♪ lauren: we're 12 minutes in and dow down 40 and nasdaq moving nicely and up nearly 80 points. take a look at it. this. 3m is a dow stock and dragging the whole index lower and down nearly 2% and not sure how many points that accounts for but without 3m, the dow would break even righ

stu: some companies reported before the bell and american express is one.strong spending with the boom in travels and sales and profit beating full four year forecast and here's the problem. there's a problem because they're keeping more money aside just in case customers can't pay back their balances with higher interest rates and slowing economy. stu: they're anticipating trouble down the road the customer is paying off. susan: that's right. i was thinking of the strong dollar impact and what that was helping. have you looked at travel stocks and airlines because you're looking at strongest dollar versus the yen since 1990 and euro since 2000, people are going out to travel and that's helping lift the airlines and hotel stocks. stu: i'm going to australia in november, it's going to be a much cheaper trip than it was a few weeks ago. the australian dollar sunk like you wouldn't believe. susan: a strong dollar is helping our bottom dollar but sinking everyone else. stu: another one down. susan: it wasn't terrible quarter because i think they had a better sa

american express is joining a small but growing number of firms choosing to post salary range even thoughed by law. all companies with four or more employees must add salary ranges to job postings in new york city getting tuesday. it is a same level of transparency across the united states. a billionaire acquired a stake in the hotel and casino company. he has a 6.1% stake in wynn. >> let's take a look at the dÉgas head for australia and new zealand. we are checking the reactions to the manufacturing pmi for october folding to 52.7. new orders were shrinking from last month. the rba is expected to raise rates again i 25 basis points today and signal that future rate hikes will calm. and the melbourne cup -- it is a race that stops the nation. the most lucrative handicapped race in the world. let's take a look at some of the stocks we are watching one trait opens in australia. we heard from white house official saying president biden will call on congress to consider tax penalties for oil and gas companies recording record profits. we are watching the energy related stocks. let's take a lo

largest markets, cincinnati, columbus, ohio, saw the biggest month over month declines shares of american express are down despite a solid earnings report am ex chief financial officer told cnbc that europe was the biggest surprise with strong performance in the uk and germany as well. >>> and tiktok is denying that it used specific location data to track users this comes after reports that the china owned company was planning to monitor certain u.s. individuals' locations tiktok said the company does not collect precise gps data and has never been used to target any users. >>> let's turn to a brutal year for i.p.o.s. now instacart is cutting staff, and reportedly likely to pull the i.p.o. plan this year. they've raised more than $7 billion in 2022, compared to a record $154 billion last year. even jon, as we continue to get indications from some banks and exchanges that at least the pipeline remains somewhat healthy going into "23. >> this is significant to me because instacart was one of those names that looked like it was going to go public, even though it's not the best environment. sort of e

7 american airlines double beat this morning up almost 3% looking ahead to snap later today american expressl be watching that one, in terms of credit trends, consumers joining us right now bahnsen group chief investment officer managing partner author of "tlts no free lunch" how do you access the macrostory most know you have a slowing economy giving confusing data certain things don't look as bad agency i think of they are going to get manufacturing okay industrial production kind of fine the employment data you confuses everyone should be worse it isn't yet that is a rallying the fed to kind of keep going to probably over tighten then you get a hangover effect next year. >> your growth committee for growth hosted fred smith founder of fedex. >> i wanted to ask about that i love your book no free lunch a must read. >> what fred smith said couple things one concerning about not hiring enough workers you hear all the time o other thing almost concerned me more david i want reaction to this he said workers today just don't seem to have the same productivity of the workers before, that seems l

our next guest has called out woke companies from disney to american express, and if now bloomberg saysg scared. the man they're running scared from is chris rue foe, and he joins me now. do you have them running squared concern scared, and if so, what are they doing? >> well, i think what we've done is we've exposed critical race theory anded radical gender theory in about 20 of the upon theture 100 companies. we've driven up negatives on companies like disney which sufferedded a catastrophic reputational loss as it was fighting with ron desan tin os than writer -- ron desantis, and so we've shifted corporate culture. we know this from bloomberg and the "wall street journal." they don't want to get in the crosshairs of the anti-woke movement because it's bad for business. that's exactly what we've intended to do. if you have to declare neutrality in the culture war, we will come after you, target your reputation, target your ceos in the realm of public i appearance, and we'll drive down your business in a meaningful way. stuart: has anybody tried to silence you? >> they have, of course

american express, rising closes before the bell twitter is falling in the premarket for elon musk wants to lay off 75% of the workforce. the stock right now down about 8% on twitter. interest rates the highest level since 2008 take a look at the ten year treasury yield at 14 highs four and a quarter basis point of love 2.7% on the tenure, stocks finished in the red as interest rates moved higher, the dow, s&p, nasdaq all that were free to straight sessions with the dow down 90 points in the nasdaq lower by 65 and s&p 500 lower by 29 oil prices trading this way as we await the official release from the oil from the strategic reserve the crude oil price at 84.37, that is not a fraction. in asia overnight the stocks were lower shanghaied the one bright spot up a fraction, the other lower across the board by a fraction, this all as the new monmouth university poll shows voters thanks biden is not paying attention to the most important issues with under three weeks before the midterm elections, details this morning all morning long, "mornings with maria" live right now. ♪. maria: the search

>> paypal is the second largest consumer payments company on the planet behind american express.stercard. the lawyers did not review this on the executives did not review this combat have to be in error they'll have a change of policy and they'll find their users $2500 for misinformation. complete nonsense. >> trace: when you talk about the owners on the executives that did not catch this. the former paypal president david marcus who knows the company, he thought the policy was legit and he tweeted the following, it is hard for me to openly criticize the company i used to love and gave so much to peer at about paypal's new aup goes against everything i believe in. a private company now gets to decide to take your money if you say something they disagree with. if he knows the company and kind of makes this a little bit more sketchy when they walk it back. >> yeah, paypal's becoming the google of consumer payments and it's becoming walk. as we see with big tech, they're willing to use the market power to crush competition and shutter small businesses, cancel conservatives and other

verizon is at the top 2% higher, amgen is up and so is coke, up nearly 2%, i've got american expressp 500, hca holdings, at&t, united airlines is up again, see them going places? bookings for the holiday period are very good apparently. comcast rules the roost on the nasdaq list. kraft heinz, amgen, charter communications, o'riley automotive so there are some winners and the dow is up 240. the 10 year treasury yield now moving back up a little bit. you're at 4.22 and the price of gold hasn't done that much during this inflation scare, it's not doing much now, 1,651 per ounce. bitcoin, interesting story here. it never moves, do we notice that from weeks on end its been 19,000 and change and there you go. the price of oil, we didn't check that earlier. check it out, $84 per barrel. lauren: china demand i'd say. stuart: i would say you're right nat gas beginning to move up a little bit but that's all over the place recently, depends on the temperatures up in the northeast. it cools, nat gas goes up. there you go. lauren: fortunately its been warmer in europe. stuart: yes that's helped o

trading at a discount to the s&p growing at a much larger rate than the s&p the second one is american express. here is another great, well-run company. the brand is incredible. you've seen a huge amount of travel and entertainment the thing people don't understand about amex, gen y and z, credit cards in the platinum area, in the higher level. the recurring revenue, 90% rate of people keeping their cards. we see that as a great inflation play as people spend more money, they make more money and they're global in nature look at the travel and entertainment business it's really, really growing. >> we're talking about a consumer-led slowdown. we don't have much visibility on the consumer longer term, sarat. default rates are inching up once people wake up and realize they're paying 22%, not 7% on their credit card, it sounds like you're fairly confident in a consumer. >> remember, amex is much more of a charge card than credit card if you look at small businesses also spending money, all this coming out and all the data. look at the airlines right now you can't get a seat look at the hotels what

with seven in ten americans expressing high interest in this midterm election, a likely indicator that we can expect record turnout next month, but with that, our country remains deeply polarized. eight of ten americans from both parties believe their political opposition poses an existential threat to the country. what will that divide mean for the country after november 8th? i will ask george a candidate stacey abrams in just a moment. you absolutely don't want to miss it. first, joining me now, senator kirsten -- senator, 16 days till midterms, more than half of the country is engaged in early voting by the end of the week. a lot of issues on the table, along with some of those new polling numbers, which i will get to in a bit. but broadly, why do you think democrats will be able to hold on to the senate just about two weeks out from election day? >> i think democrats can hold on to the senate because of the quality of our candidates. we've extremely strong candidates, who are doing well in their states. and despite states being red or purple, we have democrats leading in the polls

salesforce, caterpillar, nike, american express. , united airlines up 7%, american is up 6%. dex con, not sure white -- quite what they do. align technology, intuitive surge call and amazon. one big tech -- susan: does diabetes, detection -- what do you call it? i'm jet lagged, help me out here. the device -- stuart: thank you very much, indeed. great to have you back, susan. [laughter] all right. coming up, look at this headline: supreme court, new term should bring constitutional clarity as far left the turns up the heat on justices. carrie severino wrote that. she was formerly a clerk to justice thomas, and she's here to tell us how a conservative majority could change some big issues. >>> mayor adams in new york blasting the far left for its handling of the border. roll tape. >> the far right is doing the wrong thing. the far left is doing nothing. i mean, the silence, i don't believe the silence that i'm hearing. stuart: this is a national issue. where are these migrants going to go? we're going to get into that throughout the s