buy small cap. in august we actually sold our small cap. to give context, to lizs point, it leads on the way ow pt december 2020 added a small cap strew our strategy as we felt the economy would reopen and gdp play out played out well. small caps and small cap value sensitive to the u.s. economy. i'm in the belief we are late stage in the u.s. economy as we continue to slow, and so we sold the small cap value in august of this year to go into als, a free cash flow. too early to take a large position and sometime mid, early next year if we go into recession or continue to slow you'll get a better opportunity even cheaper times to do exactly what liz said as you come out. small caps are a wonderful way to outperform the s&p as you're coming out of a recession. we haven't even entered one yet. >> yeah. weiss, i can't imagine you like the small caps telegraphed. i don't know why i'm bothering to go to you here. >> well, like a lot of us except for me, scott, you need affirmation of your thought process, and i'm going to give it to you. >> i kno

, ca caps. >> nancy, thank you for your time guy, how do you feel about small caps. >> we talked abouto january before everything craters, now this june traded down to 166 bounce and we just did it again on september 30th so i have a double bottom past resistance becomes support. so this has some legs here i don't think it will trade north of 210 but it definitely could make a push toward 200 and in a tape that i think will be going up for nimt week or so. >> i view small cap stocks as a hedge against emerging markets and things that are growthing. it peaked as we get the reflation and the burst in rates in the early second quarter of 2021 and as the dollar has rallied and you think this would be small cap positive, they have run into a lot of pressure people feel like small cap companies will be well insolated. so i think they've disappointed in a period where they should be doing better but i would agree that the exposure here or the sectors that we're just talking about with the dow, i think this is a lot of small cap exposure. >> what kind of trade do you in small caps >> i don't a

how long is this cap in place for- per year point. just remind us, how long is this cap in place forces of government help are there? the what other sources of government help are there?— what other sources of government help are there? the cap is in place for two years _ help are there? the cap is in place for two years from _ help are there? the cap is in place for two years from today. - help are there? the cap is in place for two years from today. in i help are there? the cap is in place for two years from today. in the i for two years from today. in the first year, 2022—23, there will be a £400 discount applied to everybody�*s electricity bills will stop that will come off their electricity bills over the next six months. £66 for a couple of months, then £67 will come off each month. it is really important to stress that will happen automatically. you do not have to apply for it. i am making that point because it has lots of scams going around at the moment where people try to get people to give their details, financial details, personal details in order to get that discount. do

when they negotiate purchase contracts with russia, that they are subject to the cap.hey can have access to the premium services provided by western insurance firms and banks as long as they purchase at a price below the cap. we need them to understand that, that that is the condition they face for access to those services. and that we will be making sure that western firms abide by that. we honestly are not asking whether governments can do anything. of course, companies and governments can bite without being subject to the cap if they can find ships, insurance, trade finance and so forth that are provided by non-coalition members. that's fine but the very existence of this price cap really raises the leverage that countries, even that are not using western services have, when they negotiate with russia. for us, success is going to be not how many countries raise their hands to say we endorse what you were doing and we are part of the coalition. we are not looking for that. what we want to see is that russian oil continues to flow into the market and countries are usi

the price cap is the cap - the upper pack. it is an important| point.ou will pay per unit of energy you use so the average user of an average home will pay on average £2500 for your energy bill this winter. that is based on the amount of energy units you use but the more energy you use, the more your bill will be and the more expensive your bill will be at the end of the winter. the government has put in a huge amount of mitigation against these huge costs. they have been brought around by huge surge in demand for energy caused by the war in ukraine. liz truss the prime minister announced these measures in the first days of her premiership to say they were spending billions to support households. every household will get a 412 support package as part of their energy bills over the winter. those payments will appear in your bill automatically as a reduction in october. —— 409 support package. there is a comprehensive package. there is a comprehensive package from the government but there is no doubt the cost of your energy bill will have doubled over whe

companies and governments can buy without being subject to the cap if they can find insurance, tradeinance and so forth that is provided by non-coalition members, that is fine. the very existence of this price cap really raises the leverage that countries, even that are not using services have when they negotiate with russia. for us, success will be not how many countries raise their hand to say we endorse what you are doing and are part of the coalition, we are not doing that. we want to see russian oil continuing to flow in the market and countries are using the leverage provided by this cap to bargain lower prices and that is what is going to effectively reduce russia's revenue. we want to reduce russia's revenue and keep oil flowing. we are not benefiting from the cheap russian oil. we hope it'll be countries in africa, latin america, asia that will buy oil. remember that on december 5, the european union is essentially going to cease purchases which will make a substantial amount of oil available at low prices for countries around the world. >> could you tell us what your reacti

and those talks come after the european leaders agreed in general on a price cap. but without the details of many countries, especially in southern europe, hope the measure would lower exploding energy prices due to the war in ukraine. however, several members, including germany and the netherlands, fear that it could actually end up hurting supply was a how exactly is a price cabinets work? well, 1st, let's take a step back with gas lows cut off from russia. the was currently importing more liquefied natural gas from countries like the u. s. norway, and elsewhere at expensive market rates. if you impose a price cap, it would say member states agreeing to a maximum price that would be willing to pay for the gas. the hope and the theory is that the blocks bulk buying power would then convince gas producers to bring down their ballooning prices. but as we said, not every one is on board countries like germany, fear the cap could actually force gas producers to seek other more profitable markets for the elegy like in asia where there's also high demand for gas right n

cap on russian oil. meanwhile, ukrainian troops re take more territory as they advance against retreating russian forces. president lensky says his troops have liberated dozens of towns in the past week, and now pressing a counter offensive in both the east and the south. also coming up with trim. it is 60 years today since the premier of the 1st james bond film and fans already wondering who could be next in line to play agent double. 07. ah. my manuscripts mckinnon. welcome to the show. every one. the european union has agreed to impose new sanctions on russia in response to the war in ukraine. now these will include a cap on the price of russian oil exports. the security threat from russia is also on the table as members of the european parliament meetings transferred. and the commission president has told m. p 's that member states need to step up. the security of their energy infrastructure was left on the line. also said b, e is now ready to discuss a price cap on gas as prices saw earlier, i spoke

prices below the cap and refrain from doing so for oil above the cap. there is an overwhelming economic incentive for buyers to purchase so they can engage these services. it will be cheaper and less risky to move russian oil cargoes with the surfaces. we are already seeing the price cap policy work with russia forest to seek discounts. to close i would like to express my gratitude for the additional resources that congress provided in the appropriations packages with helps us in the administration in the policy response. and to the people of ukraine. i would be happy to answer your questions and i look forward to working with you all in the future. enqueue. >> we will start with a five minute question. i will start with myself. we have had an impact, but it is not quite what we thought. in march, economists estimated contraction of the russian economy by 15% in 2022. the monetary fund showed moderate contraction of 6% this year. and the ruble has appreciated and rallied above its prewar value. there is clearly more work to do. it looks likely that russ

once the french president mccomb wants the cap shots, doesn't want it. and i had a meeting on the sidelines. the eliza palace released a statement saying that they encouraged french and german ministers to keep on talking with each other. so the next german franco german covenant meeting will be the most ambitious of substantial possible. they talked about energy, they talked about defense. they were meant the to lead is to have a summit next week together just, you know, a big meeting, the 2 of them. but that now has been postponed because of the divisions on this issue. the stuff to get, i have to wait and see whether they can i and any of those out in the big forum of the 27 need is here in brussels today. exciting time in bravo, thank you for breaking it all down for us. jack barrick, while energy was being discussed and brussels to day was a dark day for many ukrainians as the public heeded a call from the government to switch off electricity until 11 pm. the measure is in response to russia's widening attacks against energy facilities which have co

and also the questions of a how that price cap should work. we understand that the leaders are really getting into this now. and actually the discussion that they've been talking about is capping the price of gas for imports. they're going to be used to price that to produce electricity. we now understand that the leaders are actually now talking about a different way of doing that and not just the, the, the price that it, that it costed to for the electricity. but actually that they will start looking at copying the benchmark price. so that is something that is changing within the document. they're starting to talk about that. and actually the understanding is that the leaders themselves are in this meeting, starting to pen the wording of this, which is very, very uncommon. normally, a lot of that wording is done in advance of the summit. the other thing that they're, that they're looking at is a voluntary purchasing scheme. so for the e u countries to all be able to purchase gas together, there was talk about making that mandatory, the hunga

cap on russian oil. meanwhile, ukrainian troops retake more territory as they advance against retreating russian forces. president salenti says his troops have liberated dozens of towns in the past week and an hour pressing a counter offensive in both the east and the south. also coming up a nobel prize for 3 pioneers of click chemistry, the royalty dish academy of sciences, honors the trio for discovering a weight map molecules together. it's a technology that could help make cancer drugs more effective. ah time manuscripts, mckinnon. thanks so much for joining us. the european union has agreed to impose new sanctions on russia in response to the war in ukraine. these will include a cap on the price of russian oil exports. the security threat from russia is also on the table as members of the european parliament meet in strasburg. the commission president has told me peas, that member states need to step up. the security of their energy infrastructure was left on the line. also said the e, you is now re

but not included in the cap is not included is a cap on gas prices. the idea has split member states with germany making its opposition clear. it doesn't want to scare off is new suppliers. your leaders will discuss the proposals later this week. much explain more about what the european commission is proposing. here's our correspondent in brussels. terry schultz. well, european commission, chief ursula vander lion, is pleading with countries to cooperate more in bringing down energy prices as we head into winter. now, what she made her priority in the package of proposals she unveiled to day was that countries make joint purchases of gas. she says when they're competing against each other for gas contracts, it's just driving the price up for everyone. butter lion says this will also be an advantage for suppliers if they get larger contracts, and she's talking about reliable suppliers in her words and she, she means norway in the united states, primarily as a european union tries to further limits dependents on russian imports. now the other thing tha

we have no idea what the cap will be. this isjust a bit world — cap will be.e of ossible moment. indeed. in a sentence of possible from _ moment. indeed. in a sentence of possible from both _ moment. indeed. in a sentence of possible from both of _ moment. indeed. in a sentence of possible from both of you, - moment. indeed. in a sentence of possible from both of you, what . possible from both of you, what would you hope to hear a november the 17th that would help your business? we the 17th that would help your business?— the 17th that would help your business? ~ ., ~ ., , business? we need to know exactly what the cap _ business? we need to know exactly what the cap will _ business? we need to know exactly what the cap will be _ business? we need to know exactly what the cap will be per _ business? we need to know exactly what the cap will be per unit. - business? we need to know exactly what the cap will be per unit. only | what the cap will be per unit. only then will_ what the cap will be per unit. only then will the businesses be able to work around it an

. >>> plus, small caps holding above their june lows. why that is a silver lining, perhaps in this market, and why this small-cap name in particular might be worth taking a look it's a mystery chart we'll tell you. >>> and a quick check on your markets. we are seeing the dow down nearly 300, the nasdaq ones again the big decliner, 1.9%, headed for one of the worst years ever for tech stocks we're back, after this you'll always remember buying your first car. and buying your starter home. or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help. t. rowe price. invest with confidence. - yieldstreet presents: alternative investing with kal penn and older kal penn. - oh, the stock market is doing that fun thing again. - hey news from the future, you're going to live through that about 10 more times. (laughs) - oh, it's

well, in with regards to this one issue, price caps, there are really in opposing caps with germany saying that this is not a silver bullet to tackle the crisis that that could be a very risky measure, that it could alienate reliable suppliers who could then sell gas elsewhere, other nations like friends, for instance, and actually the majority of member states here are saying, no, we have to use our purchasing power. the european union is one of the largest global players in international trade that can work. however, i think that the real matter here, stat, smaller countries are saying that unlike germany, this economic powerhouse, they don't have enough money to set. so died and gas praises on a national level. but alexandra to they realized that stalling, this whole process is costing consumers. well, i think they do realize that because of course they see that we have already seen some protest. so within the european union, with people protesting against a soaring energy prices, the heating season has already started. at the same time, we have to say that at the gas prices went down a

than our small cap. >> got it.ill kerry hall, small caps are better says jill kerry hall who covers the small caps for bank of america we appreciate it. thanks very much as we go into the close i want to show you what's happening we are going to go out near the lows of the session, down 600 points or so on the dow, the s&p 500 has got every sector lower at the moment, energy faring the best, oil prices have been rising lately, consumer discretionary the worst performing sector. communication services, for instance, actually technology is now the worst. information technology down more than 4% and that's thanks in part to the big drop that we're seeing in amd which is down 14% on the close dragging all the chip makers, look at nvidia down 8% or so we're still going to get a gain for the week which is crazy after a day like today, doesn't feel that way, but we are still higher for the week and faring for our best week since june 24th the nasdaq a decline of almost 4% on the week, it is city higher, first positive one

the eu commission calls for a price cap on russian gas.will have a fall around up -- full round up. ♪ francine: welcome back to the open. 30 minutes into the european trading day. the u.s. slams opec+ or its decision to slash crude output. ursula von der leyen calls for eu intervention in gas markets. regional leaders meet in prague to seek common ground. fed officials pour more cold water on equity bulls. this is the big picture, european stocks supported as investors weigh the impact of oil prices on risk assets. watch out for dollar, we are seeing movement on the upside. reports are not painting a nice picture for the u.k., gains of .2%, the dax gaining .9%. energy is the one to watch for. the treasury 10-year yield, you can do that with bloomberg anywhere, edging higher after the dollar weakened wednesday. the pound also making gains. we have retail, travel and real estate on the upside, just a bit of pressure on energy, down .8%. the leaders of 44 countries are descending on prague for an extraordinary summit in the shadows of russia'

we like small caps. there's a lot more small cap names. this small cap leadership is nothing new.gy versus tech, that's the big one, right? tech's done amazing for a long time, we know, and energy's up 60% this year. if you look the last 20 years on a relative basis, it's barely a blip. what i'm saying is this trend of energy and the value names and industrials, that could continue for a while. it's not that we hate big tech. we'd be even weight at best, and i've been saying that while now. charles: we had that chart that you posted on twitter, and that's fascinating because energy versus big tech, this has been a stealth rally for two years, and it began almost two years ago on this particular day, you know? and to your point, you know, from 2008 it was the always the other way around, so maybe has legs. ryan, happy birthday again, my man. have a great weekend. >> thank you, charles. appreciate it. happy halloween, everybody. charles: thanks. as much as the fed wants to crush the economy, americans, they keep going and guess what? they expect prices to go up. the problem is, that

you have 80% of the s&p components by market cap reporting by november 4th and you cap it off with another nfp number on friday that's the clear focus for options trading in the near-term for exposure to macro. >> any thoughts after we clear those big, big events? >> if you look historically, the last three months of the year are strong, seasonally, particularly when there's a midterm elections, it back tests very well. the only issue, kind of like what mike alluded to just before is, you know, a lot of these back tests don't take into account a fed that dampe ers th mood every time the market rallies a little bit the seasonality really back tests really well. given the sentiment and the light positioning and everywhere else, we could absolutely be due for a pretty good-sized bear market bounce. the major difference is always going to be the fed. >> are there certain sectors that's attracting more options activity in terms of positioning? a financials would be a really interesting one to take a look at going into today's numbers. are there ones where people are really positioning heavily a

the market cap weighted version apple has been completely its own species.not really behaved like a tech stock it's not even really behaved like a consumer staples, so it's essentially been the answer for everybody fleeing something else, and we'll see if that can continue because what's fascinating is nobody went into this earnings season and keep saying with high hopes it's going to be a beat and raise type story across the board. i also don't think that's the case when the comes to apple you obviously don't want to see, you know, further negative commentary about what indemand is whether they're going to have be belt tightening more than people thought i think it's its own thing >> out of meta, alphabet just yet >> if you look at the dow up 320, psychology has shifted. so the companies that are just doing different things, that are more focused on what's working now, in the market >> right exactly. and, you know, you were still having this process underway all year of the top 5 of the nasdaq, which were the top 5 of the s&p. they just had these massive pr

the energy price cap itself is applied to a unit cost to your gas amount of money and the price cap capsit go? the energy _ of your bill. so how high could it go? the energy bill— of your bill. so how high could it go? the energy bill itself- of your bill. so how high could it go? the energy bill itself could | of your bill. so how high could it l go? the energy bill itself could go as hiuh as go? the energy bill itself could go as high as they — go? the energy bill itself could go as high as they can _ go? the energy bill itself could go as high as they can and _ go? the energy bill itself could go as high as they can and it - go? the energy bill itself could go as high as they can and it depends on how much energy you use. the more energy you use, the higher it will go and the average household bill will be £2500 but if you take measures to use less energy as best you can, then you can make it lower than that. by, you can, then you can make it lower than that. �* ., ., , ., , ., than that. a lot of questions about mortua . es than that. a lot of questions about mortgages and _ than tha

but the bottle caps, we usually take them home.ny of her neighbors also drop their bottle caps off with her. andrea: we know the lids will be given a new life, that's why we give them to maria. we have a kind of local recycling economy here with plastic. reporter: social worker marcelo queiroz works with arian rayegani. he leads the recycling network, in which maria do rosario participates. marcelo: thank you, maria. this is great. and we can make some more skateboards. reporter: maria do rosario lives with her five children in a small apartment in rocinha. maria: there was a garbage recycling campaign here. that's why i started working at the dump. that was three years ago. reporter: marcelo queiroz helped her get started. marcelo: we showed maria how she can earn money by separating waste. a total of eight families now make a living from waste recycling at our 24 rubbish dumps in rocinha. like maria, they bring it all to the recycling center twice a week. reporter: the by-catch, the bottle tops, end up in arian rayegani's skatebo

the 2000 cap on prescription drugs, gone. $35 a month cap on insulin for seniors, gone. savings on health care premiums, gone. of course they're still determined to repeal the entire affordable care act. that means an end to protections of tens of millions of people that cannot afford health protection -- health insurance because they have a pre-existing condition. the most regressive actions to deal with -- aggressive actions to deal with global warming, gone. you know republicans love to call democrats big spenders, claimed that we are -- and they claim they are for less government spending. give me a little break here and look at the facts. the federal deficit went up every single solitary year in the trump administration. it went up every year. it went up before the pandemic. it went up during the pandemic. it went up every single year on his watch. one big reason for that, they voted for to trillion dollar trump tax cut that overwhelmingly benefited the biggest corporations in the wealthiest americans. now republican congress are doubling down on mega maga committed

i untilthe price cap came in. why? it was to do with _ untilthe price cap came in. why?onsumer. prices are also different in shops. you can see it if you go to these particular brands where you might go to a shop in one area of your town and there a same brand in a different area that might charge different area that might charge different prices. we different area that might charge different prices.— different prices. we all see it. it's different prices. we all see it. it's worth _ different prices. we all see it. it's worth asking _ different prices. we all see it. it's worth asking why - different prices. we all see it. it's worth asking why that i different prices. we all see it. it's worth asking why that is i it's worth asking why that is happening. it it's worth asking why that is happening-— it's worth asking why that is haueninu. , ., ., happening. it is in rural areas when ou are happening. it is in rural areas when you are stuck _ happening. it is in rural areas when you are stuck with _ happening. it is in rural areas when you are stuck with one _ happening.

with a possible cap on gas prices on the table. now tensions remain over how best to deal with the soaring cost of energy. there are increasing calls for a unified e response, but the block is far from agreement. now we're expecting a press conference with the ear, lead us to start shortly, and we will bring that to you live, but we're going to speak now to d. w as alexander phenomena, who is standing by for us at the eve summit in prague. alexandra german chancellor shaw. it's just held a press conference there in prob, can you tell us a little bit about what he said? well actually this press conference is still under way, but so from a now what we can say is that the german chancellor was very happy with the last 2 days. years had started his a press conference by praising the unity of further european leaders from the continent who met here today, forming this new european, a political community. that was the 1st day of the summit. and the fact that all 44 leaders that were invited to this meeting were here, we're as seen as, as

this is the story about _ postpone cap on this?_ postpone cap on this? this is the story about social care which - postpone cap on this? this is the story about social care which is i postpone cap on this? this is the story about social care which is a | story about social care which is a long—standing problem in successive governments, both tory and labour have said they're going to deal with social care and this is going to be a cap on what people pay for care in old age and that is not likely to be delayed by year you could say it could be delayed even longer in fact, the story says that forces within the treasury that have advised jeremy hunt that should be cut entirely and if that happens, there will be another blow to what there will be another blow to what the conservatives have been saying and have been promising that they can deliver and of course, we must recall boris johnson can deliver and of course, we must recall borisjohnson said that he would solve the social care problem and we know it's an enormous problem and we

we have very little details about what this oil price cap will mean. how much will cost, how long it will last for what exactly it will affect, but they have agreed the legal basis for it, which is what was proposed by the european commission president at the end of last week when they outline these sanctions. the intention is to try and hit russian oil to cap the price to make sure that they don't profit from you imports and indeed, imports around the world that the uses as funding the war machine for russia's war in ukraine. significantly though, gearhart what we've seen is the hungarians, who have been extremely opposed to any sanctions on fossil fuel imports that worried about their own energy mix in this energy crisis that we're living through at the moment. they have said that they've got an exemption out of this, a spokesperson for the foreign ministry said that the new e u sanctions don't harm hungarian interests. they've been granted exemptions and that the you sanctions would have violated their own interests and endangered the security of th

you will potentially have a price cap.ou tell me with a surety what your production in february 2023 will be. you said 93% for 2023. is that the worst case scenario? >> such actions create a very bad precedent. that will promote early hit the ones who are doing it, implementing it. there are unaccomplished number of examples of market interference, especially with the mechanism of price controls or get it can only lead to a deficit. that's unacceptable to russia. if it is implemented, we are not going to supply countries which join this mechanism. manus: the whole essence of price cuts from the eu are going to lead to a deficit. who is going to fill that gap? that is the big question. opec-plus goes into cutting mode. a number of other messages came through. it's about the cooperation agreement through next year. that shows you there's a solidarity between opec and opec bus that is not going to dissipate. a challenge in terms of where you cut the gaps. i pushed him and pushed him. go listen to the interview. again, it was

coming up, the european union explores a deal on gas price caps. we will be discussing that in prague shortly. this is bloomberg. ♪ francine: welcome back to the open. 13 minutes into european trading day. happy friday. we have made it to friday overall. stocks and futures falling after the u.s. payrolls. if you look at the risk aversion out there, there is some due trading ahead of the pivotal number. we saw the loss of chipmakers weighing on the broader investment -- investor sentiment. it is key that the data out of the u.s. will be pivotal for the stoxx and trading. eu leaders are such to hold talks for the second they have a summit in the shadow of the war in ukraine. they are weighing on whether to impose a cap on russian national -- natural gas. >> there is a willingness to make this happen. -- that will probably lead to decisions in the future. we have already done a lot but we will discuss issues. well the price cap work or another model? how would we work on doing the purchasing? all of this will be discussed. francine: for more, we are j

the cap would _ works. it is very nice to be here today. the cap would limit - works.uld limit the prices which older renewables and nuclear would receive. they were given incentive prizes when they were first built because the market price now is way above the incentive prices, they are earning quite a nice windfall.— prices, they are earning quite a nice windfall. ok, so in terms of the regulation _ nice windfall. ok, so in terms of the regulation via _ nice windfall. ok, so in terms of the regulation via the _ nice windfall. ok, so in terms of i the regulation via the government, is there are different between what they do for renewables and oil and gas? they do for renewables and oil and as? , ., ' . , gas? there is a difference but the oint is gas? there is a difference but the point is that _ gas? there is a difference but the point is that for _ gas? there is a difference but the point is that for the _ gas? there is a difference but the point is that for the critical - point is that for the critical infrastructure of gas—fired turbines, which back—up the entire

alix: what kind recession is priced in small caps question mark -- in small caps?egan: a pretty significant recession is priced in, but i would say what we expect, we have already had two negative quarters of gdp. we think it will be challenging over the next year but i do not think we are in form a 2007 to 2009 type of recession. the economy coming into this was still pretty solid, so when you look at the declines you have seen across small and mid-cap names, they send -- this is an area of the market pricing in may be a 1980's style type of recession. alix: we were talking to goldman sachs earlier in the day. they talked about some european companies that have dollar exposure in terms of sales given what we have seen in dollar strength. they point to luxury is an area of opportunity. is anything in europe looking attractive? megan: europe is attractive as a whole because it is very under owned. europe itself is one of the worst performing international markets we have seen year to date. i would be cautious on anything retail oriented because while there may be so

minor means less than 5% of the cap.y will give or in what penalty they will give or in what way red bull have breached the cap. what way red bull have breached the ca -. �* ., y what way red bull have breached the ca . _ �* ., , ., what way red bull have breached the cap. both they and aston martin were also found guilty _ cap. both they and aston martin were also found guilty of— cap. both they and aston martin were also found guilty of a _ cap. both they and aston martin were also found guilty of a procedural - also found guilty of a procedural breach, that'sjust also found guilty of a procedural breach, that's just not filling in the paper work correctly. it is this minor breach that, like you say, comes up to something like $7 million. yesterday, they were celebrating back—to—back world titles with max verstappen. this will anger a lot of their rivals, mercedes, ferrari, who have pointed out that even a minor breach is still a significant amount of money. absolutely, they were very angry about it in singapore, merce

you leaders struggle to agree on a price cap on natural gas. they're debasing measures to tackle europe to energy crisis at the summit in prague, and we will bring you that press conference life. also coming up the nobel peace prize goes to 3 champions of human rights jail bell, russian activists. alice dot sky is honored alongside russia's memorial organization and ukraine's center for civil liberties. ah, i'm a new chrisman can and thanks so much for joining us today. you leaders are in prague debating measures to tackle europe's energy crisis with a possible cap on gas prices. on the table, now tensions remain over how best to deal with the soaring cost of energy. there are increasing calls for a unified e response, but the block is so far, far from agreement. now we are expecting a press conference with you, lead us to start shortly. which we will bring to you life while, while we're waiting, we can speak to d. w as chief political correspondent, melinda crane, and standing by for us at the east summit in prague, is dw brussels beer chief,

the cap would limit these matters. the cap would limit the rices these matters.p would limit the prices which all the _ these matters. the cap would limit the prices which all the renewables in a nuclear would receive. they were given incentive prices when they were first built, because the market price now is way above the incentive prices, they are earning quite a nice win for. so incentive prices, they are earning quite a nice win for.— incentive prices, they are earning quite a nice win for. so in terms of the regulation _ quite a nice win for. so in terms of the regulation from _ quite a nice win for. so in terms of the regulation from the _ quite a nice win for. so in terms of. the regulation from the government, is there a difference between what they do for renewables and oil and gas? they do for renewables and oil and as? 7 they do for renewables and oil and .as? , ., ' . , they do for renewables and oil and as? , ., ' . , gas? there is a difference, but the oint is gas? there is a difference, but the point is that _ gas? there is a difference, but the p

the cap is in place for two years from today.ity bills. that will come off their electricity bills over the next six months. £66 for a couple of months, then £67 will come off each month. it is really important to stress that will happen automatically. you do not have to apply for it. i am making that point because it has lots of scams going around going around at the moment where people try to get people to give their details, financial details, personal details in order to get that discount. do not acknowledge those scams, do not respond to them in any way. your energy supplier will take care of that automatically, pass that £400 discount on to you. it is being applied to electricity accounts because not everybody is on the gas grid, so that is why it is coming off electricity bills. for those who aren't on the gas grid, who use an alternative fuel for heating, they will be given £100 by the government. the mechanism for getting that to them has not been worked out yet, but £100 per household provision for people on alternative

the fed impact and large caps are one thing consequences of amplified in small caps. ways to dampen's noise joining us tonight, and first before trades quick thoughts on this week from all of you since it's been a roller coaster week. carter worth what did you make of it. >> i think there's that expression when you're hoping it's hopeless. if there's hope somehow we're going to not break below the june lows, and i don't see that at all i think we're going to break we are breaking. we break substantially. >> mike? >> yeah. i think we still have more concern ahead. if you were looking how we did week over week, oh, up a little over 1.5% since last friday, but none of the situations we talked about then have gone away. if anything more evidence now, i think that central bankers should continue to persist to fix the inflation problem and one of the things people focus a lot of time and attention on, sort of the headline inflation number at any given moment what's the cpi today rather than look at aggregate prices and where those stand relative to incomes versus, say, two

>> yes the cap x is meaningful. seemed to be realistic of the problems of the industry no pie in the sky. very straight forward quarter. it was better. it could have been much worse. pcs are horrendous i'll say it, david, pat did a good job >> say it again. what >> pat did a good job. pat gelsinger. >> wow. >> no, it was good it's not that nice >> getting less nice all the time >> he is not as nice as he used to be. i'll tell you that much. >> people are joining us for the first time when jim calls somebody nice it is all tctually an insult. >> pat used to be a nicer guy. >> we look at iphones in line and auto strong and now samsung says cap x and semis look decent >> semi is down a great deal i did not like how texas handled the conference call. when you talked to companies about what chips people need, it is texas industries. i like what is happening there i wish they ran a better school. let's go back to apple for a second i do have the luxury of having a nice call with tim cook and luka, the cfo, before they rep

we're placing a $2,000 cap on medicare. you're not going to ever have to pay, even if your bills are $20,000 for prescription drugs, you don't have to pay more than $2,000 a year. and some of the cancer drugs, as much as $14,000. and, you know, no one no one on medicare no one on medicare is going to have to pay more than $2,000, no matter what their expense is, no matter how much their prescriptions cost. look, $2,000 is a limit you're going to have to pay imagine the people who are rationing what they have to do because they have family obligations. and our for our seniors on medicare with diabetes, we've capped the cost of insulin get this at $35 a month instead of 30 times that amount. there are tens of thousands of americans with diabetes struggling to pay for the insulin and badly need it to stay alive and to stay healthy, including hundreds of thousands of young children with type 2 diabetes. but you know how much it costs to make that in sling? $10. it is outrageous. so we wanted to cap it for everyone, including no

the ftse 100, the big cap stocks , not the mid-cap stocks, huge international index. it benefits from that strong dollar because a lot of earnings are in dollars. and half of dividends are paid in dollars on the ftse 100, so it has gained from that exposure. but it has also gained from buybacks, the big commodity companies in particular are buying back shares. they are the big buyers of the market. foreign investors are concerned about the u.k., and they need to be concerned about equities generally. tom: do you want to be positioned in energy in u.k., or the financial sector? sharon: arguably if you have a recession with more volatility, it is not an obvious place to be in. but i do think these areas are in better position. finance, banks, the commodities sector is benefiting from lack of supply which is keeping prices high. this is keeping inflation up, so yes for more buybacks. tom: as we lead into the earnings picture this week, i said recession because i'm thinking of earnings recession, is that something you are having to think about now? if that doesn't happen

stocks have been consistently outperforming large cap. it's not a function of the russell 2000 going up. it's just going down less than the big heavies because app and others are starting to come apart. >>> right. still to come, the semisetup and for everything "options action" check out our website and newsletter more "options action" after this good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back. at humana we believe your healthcare should evolve with you and part of that evolution means choosing the right medicare plan for you. humana can help. with original medicare you are covered for hospital stays and doctor office visits but you'll have to pay a deductible for each. a medicare supplement plan can c

what's the consequence of a price cap in your view? function of the market and flow of oil, i want to know about the flow of oil as a result of a price cap. what's your best thought, best guess? manus: well, you know, any price cap is not really solving the fundamental problems. to kind of really give me supply. in fact it can be counterproductive increasing the demand while the supply is not increasing. generally speaking, both oil and gas, we don't think price caps will solve it. it's about, you know, continued investing and investing more in energy that will be the solutions here. regarding the g-7 price cap of oil, quite a lot of disturbance in logistics of oil going forward. and it's too early to say but there's a danger at oil prices will go up with the price cap. dani: so you mentioned a couple of times this idea that it is your duty to deliver safe, reliable energy to europe. you mentioned the suspected sabotage of the in orderstream pipeline -- of the nordstream pipeline. what steps are you taking to guarantee that security? a

why has the calculus around the price cap changed? >> when janet yellen started on this plan back in may, we were looking at a pretty different set of scenarios in the global and financial markets. oil prices and energy prices were volatile but we did not have spillover risk from the u.k. adding to potential financial stability risks. we also did not have the level of escalation from president putin we are seeing now and if i more turmoil ahead with the federal reserve leaving a lot of developing -- seeing more turmoil ahead with the federal reserve leaving a lot of developing economies behind. this has changed quite a bit in five months and by the time it comes out next month or so it will look a lot different than it did. haidi: there are concerned this was leading to greater volatility. what differs from the initial proposal? >> insiders in the biden administration are telling me that in the beginning as they were building their proposal they were looking at a price range for the price cap at which to put a lid on the amount of mon