it is crunchtime for the s.e.c. the s.e.c.to appeal the d.c. circuit court's ruling that the s.e.c. was wrong to reject an application from gray skill investments to create a spot bitcoin etf. the court ruled the s.e.c. allowed a futures bitcoin to trade already. that a spot and futures bitcoin were the same products. they were life products. so the court said you approved one, you have to approve the other one. so the s.e.c. is in a pickle. they are allowed to request a rehearing on this, but the federal rules of appellate procedure states that the s.e.c. would have to convince the court that they have overlooked something or misapprehended the facts in the case. that's a high bar. given the ruling against the s.e.c. was unanimous, it's tough to imagine the s.e.c. can come up with some new and novel reasons to turn gray skill down that hasn't been heard by the court before. so it's a problem. should they decide not to appeal, then there they will likely be forced to convert the bitcoin eft. and it's possible they will approve

s.e.c. suing elon musk in the effort to compel the billionaire to testify about the purchase of twitter last year. eamon javers has more on that. what is going on? >> reporter: good morning, andrew. the s.e.c. filed the action with the federal the court seeking to force the subpoena against who musk who failed to show up. two days before the session, they say musk notified the s.e.c. he would not appear. this is part of the s.e.c. investigation into the musk acquisition of twitter which he renamed x and whether he violated securities laws in that deal. the s.e.c. says musk attempted to justify his refusal to comply with the subpoena by raising for the first time several objections, including objection to san francisco as the appropriate testimony location. they say they offered to conduct the meeting in fort worth, texas or other commission office on alternate dates. the s.e.c. was met with a blanket refusal to appear. he objected to san francisco because he doesn't live there and rejected t

one is we saw the s.e.c.d a chance to appeal a ruling which said it was wrong to reject an etf application for bitcoin. this is a big topic. etfs. the s.e.c. did not appeal it and that suggests we could see bitcoin etfs come to market. many see etfs as a way to broaden the investor base of bitcoin bringing institutional investors to buy the etf rather than go on the exchange to buy bitcoin. etf is seen as a huge boon for the market if the s.e.c. allows it to come to market. the second thing is the bitcoin harvest. that is where the bitcoin miners get rewards for mining are slashed in half. that is a way to keep a lid on inflation in bitcoin, but reduce the amount of supply which creates scarcity. and every four years, you see price action to the upside. there is a little bit of that. the big question he for me is whether is propelling bitcoins to all-time highs in last few cycles is the retail investor driving this higher as the frenzy as the price continues to rise, draws in investors. the question is how sc

company hlawyers say the s.e.c. is trying to appoint itself as the cybersecurity police for companies and overreaching into the complex area should alarm all public companies. >>> bank of japan is out with the latest policy decision keeping rates unchanged, but tweaking the yield control policy to allow the ten-year bond yield to float at or above the 1% mark. yields on the benchmark note are cor currently sitting at the highest in a decade while the yen falls against the u.s. dollar. >> thank you, silvana. >>> we have more to come here on "worldwide exchange," including the one word to know today. >>> apple out with the laptop shakeup in the scary fast event last night was it enough to move the needle for investors? >>> apple not the only ones, why the fortunes in china could be impossible jeopardy. >>> and the slip spots in the north base have vf corp shares sinking ahead of the open. we have more ahead when "worldwide exchange" returns ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast

fed president. >>> coming up, s.e.c. commissioner. he hester pierce joins us on what the s.e.c.the value of businesses large and small. this can mean disruption to supply chains, changing demand for products and shifting regulation. what does this mean for your business, your clients, and your investments? ice offers data and markets that can provide critical insight. manage your climate risk with ice. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley. ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trad

it looks like the s.e.c. gary gensler democrat appointed s.e.c.o has been doing a cram-down on bitcoin because he couldn't control it, it looks like he's going to finally relent and the s.e.c. is going to allow potentially allow bitcoin to be used as an a etf. so all of a sudden now you bring in a whole new group of buyers. if there's an etf, you don't have to buy bitcoin, you can buy the etf and it won't be just bitcoin but it will be all the different cryptos and the key is the s.e.c. is going to say well, maybe crypto is actually a currency. it's not a security. so it's okay to put it into an etf and allow retail investors to buy it. that's what's pushing it. maria: the cryptos are way a down from their highs. do i really want to buy an etf, holding crypto? >> yes. i'll tell you why. it gets to portfolio management. just because you like something doesn't mean you have to love it. in other words, you don't have to put all your money in. it might be for something like a bitcoin etf, you put 1% of your capital. right. if you've got 100 you thousa

bitcoin rallying to the 18-month high thanks to optimism that the s.e.c.ill finally approve an etf and invest directly into crypto. bitcoin above 30,000. $34,200. up 9% right now. you see the sharp swing. >>> turning attention back to earnings with microsoft and alphabet which kicks off a busy week. the magnificent seven stocks, a basket of a.i. stocks, coming off the highs for the year, but out performing the broader market. rising rates along with political tensions and geopolitical concerns are all weighing on the sectors as investors reassess risk appetite. microsoft makes up 6.5% of the s&p compared to alphabet's 2.5%. it is expecting to see revenue rise by 13%. the call is the key. analysts look aing for comments. growth of the cloud infrastructure business for microsoft is forecast to increase 26% year over year. you see a bit of a slowdown from previous quarters. outlook on cloud is also key. joining me now with the investor prospective is jason ware. it is great to have you here this morning. >> thanks, frank. >> as we mentioned, microsoft reports

i think many people think the fact that the fed -- i mean the s.e.c. in behavior and therefore i do think hopes are rising that a or a number of bitcoin etfs will be approved. >> my understanding is the court now is going to issue a mandate about how to enforce their decision here to the s.e.c. and they're going to basically follow that mandate, everyone is assuming at this point they'll probably approve most of the bitcoin etfs by the end of the year. >> right, i do believe maybe the reason they're saying by the end of year, early next year, our final deadline is january 10th and i think we're first in line and as you say, a number of -- a number of bitcoin etfs could be approved at the same time. >> ark invest is up 20% this year, outperforming the s&p. significant outflows this year, can you talk about that? you're outperforming yet you're having outflows, tell us what impact higher ratesare having on your holdings this year? >> a couple of things going on, if you'll remember in late '20 and early '212 flows were enormous into our funds and i was un

. >> the s.e.c.dropping its lawsuit against two high profile crypto executives, the founders of ripple. this was a civil suit, it had to do with what the s.e.c. said were illegal sales of the crypto-currency. xrp at the time was the third-largestcrypto-currency, it's fallen a lot since then. the allegations were called baseless. put out a statement in the last 20 minutes or so, saying, quote, instead of looking for the criminals stealing customer funds on offshore exchanges that were courting political favors, a nod to sam bankman-fried, he said the s.e.c. went against the good guys building a regulated business in the u.s. a judge agreed with their argument that roughly half of its xrp sales did not violate investor protection sales. the other were institutional sales that could be on the hook. melissa, back to you. >> kate, thank you. rat kate rooney. >>> the aiwan semi with the bigt profit drop in five years. they are expecting stronger pc and smartphone demand, their biggest business, as well as

the s.e.c.n musk over the purchase of twitter. attorneys say musk failed to appear for testimony last month as required by the subpoena. the s.e.c. says the investigation is focused on anyone committing securities fraud in purchasing twitter shares last year as musk was buying stock in the company. frank. >> thank you, pippa. >>> the countdown is on for the monthly jobs report due out in three hours. employers are expected to add 170,000 new jobs in september which is down from 187,000 in august. the unemployment rate is moving to 3.7% from 3.8% the previous month. we are talking about manufacturing which added 16,000 jobs in august. see if the trend can continue with matt schwartz. his brand partners include nike and lululemon. matt, thank you for being here. >> thank you for having me. >> we mentioned manufacturing and tech. what is the hiring environment now? do you expect to hire and do you have it hire at higher wages? >> the hiring environment is strong. head count since january of 2020 is

the s.e.c.y approved bitcoin tied to futures contracts. >>> and sam bankman-fried has taken the stand over the collapse of ftx. judge kaplan ruled that he would testify without the jury present to determine which testimony is admis admissible prosecutors say sam bankman-fried should not say lawyers were responsible he told the court that lawyers were involved and setting up the system where customers are depositing into the alameda bank account. >>> and charges were brought back into focus swiftly after worldline posted disappear pointing numbers in the third quarter sending shares spiraling in wednesday's trade the revenue wasn't the only thing that disappointed, but the fact they had to sever ties with merchants which put the microscope on worldline and causing doubts in investors' minds of the direction of travel for the french payment company it is trading at 11 euros a an sh share. we wanted to take a deep dive into the space to see what is in store for future weaker environment and stricte

big 12 in lawrence, a bonkers game we've got to show you, j hobson before oklahoma bolt for the s.e.ce, but the jayhawks score a go-ahead touchdown on a devon neil run, they lead 38-33, in the final seconds dylan gabriel's past looking for the end zone, and it just sales high and out of bounds, jayhawks pull off a huge upset of a cfp hopeful, they beat ou for the first time since 1997, and they celebrated accordingly, ripped down the field goalpost as they rip away ou's perfect season. as i was watching this you can see a couple guys hanging off the goalposts before it comes down. and i did think for a second that might have been me in college and my mom would have been watching saying oh my god, get off the goalpost, you're going to break every bone in your body. >> wanted those videos are going to service. and we're going to see it. >> and we're going to show them when they do. >>> coming up next, the big finale is it possible my network could take my business to the next level? it is with comcast business. powering all your devices with gig-speed wifi. and you get fast downloads an

you were the chair of the s.e.c.he s.e.c. and now where you could stipulate to the idea that we know all the facts around bitcoin. what are new facts that came to light in the past, since you -- >> there were -- the classification of bitcoin, when i was chair of the s.e.c. had already been decided when i got there. that it was a commodity. that the cftc had regulated it at a commodity. i was very concerned that the trading of bitcoin around the globe had a large amount of fraud going on. and i was not comfortable -- >> by the way, you were proven right. so what's changed since then? >> there are al of people who do surveillance and the like who are confident that the bitcoin spot market is what i would say is -- has much greater efficacy than it did three or four years ago. >> because you've cleaned out the sam bankman-frieds of the world. >> it's a number of thing. but in the applications -- what i would say is, well-respected financial institutions, new financial institutions, or new financial providers have submit

former s.e.c.hour. but, guys, heads up, adp means on friday we'll be getting that jobs report too. >> what? >> that's right. >> unemployment number, employment number, wages. >> that's friday? >> yes. jolts number yesterday was indicated a stronger than expected jobs market. big implications. yeah. >> jolts. >> jolts was yesterday. >> unemployment claims tomorrow, the weekly unemployment claims. all of this putting pressure on the fed and that's potentially a big part of the reason that these treasury yields are up. 4.829% now for the ten-year, that continues to climb. that's been putting pressure on equities and the dow turned negative atht is point, indicated off by 20 points. >> could be inverted. 5.5? >> well, you're already at 5%. >>> the ten-year yield hitting a 16-year high, topping the 4.8% level this morning. joining us to talk about the impact of those higher yields on the banking sector is scott seavers, senior bank analyst at piper sandler. we had huge concerns back in march when things

when the prospect of an s.e.c.ke it could happen over the weekend, they actually tried to move it up to friday afternoon and early evening, but weren't ultimately able to get the final ts crossed in time, according to sources familiar with the matter. but when congress averted the shutdown over the weekend, birkenstock had that green light. they were able to move forward with their original plans. now, the company actually traces its roots back nearly 250 years, family-owned business, but only two years ago birkenstock was acquired by private equity group and the family office of bernard. in documents revealed a few weeks ago, birkenstock showed top line growth of 29% for the first nine months of the year, although profits declined. i'm told they are targeting a listing date for the middle of the week under the symbol byrk. >> abigail adams wearing birkenstocks in the 1700s. probably didn't happen. why the urgency to go public from this company? is there a liquidity story here? is it the company is firing on all cy

s.e.c. says this is still ongoing and they have not found proof of fraud.aring is -- >>> women's pro basketball is coming to the bay area. the team has yet to unveil a name or a logo but we will need -- we know they will practice in oakland. the commissioner and the owners spoke at an event. >> we are here to celebrate the next generation of leaders, mothers and athletes. >> we will win a wnba championship in the first five years of this franchise! >> this is the first time they have expanded since 2008. the new franchise will begin playing in the bay in 2025. >> the mighty roar of the blue angels, you don't have to be in the city to hear it. this was in san leandro today. the team of six fighter jets spent half the year practicing far flying at supersonic speeds. this year one of the blue angels is also making lieutenant commander amanda lee history. >> she is here because she is a qualified naval officer and she is an inspiration to everyone watching. >> reporter: blue angels take to the skies tomorrow for the formal show. we have been watching the rehear

. >>> many people think the fact that the s.e.c.ws to ask questions is a change in behavior, and therefore i do think hopes are rising that a, or a number of bitcoin etfs will be approved. >> that was ark invest ceo and cio, cathie wood earlier today on the s.e.c. potentially aapproving a bitcoin etf, after unconfirmed reports that the commission had approved black rock's application for a spot bitcoin etf. this is driving bitcoin. >> it is, and another leak. a leak that was taken down, but, yes, i think it's a matter of time before you're not only able to trade futures but you're also able to trade the spot. i think that's why you saw the reaction that you saw today. i would also let it be known that gold has actually been rallying as well. and i just think the macroeconomic and geopolitical situation that we have going on, the entire for a flight to quality, and something to combat inflation is likely another reason why you're starting to see a bit of strength in the cryptocurrency. >> 28,000 and something for bitcoin is 30,000 th

according to the company's quarterly report with the s.e.c. the filing says the doj is looking into whether tesla misled customers about how far the cars can travel on a fully charged battery. investigators also subpoenaed documents related to personal benefits to high-ranking invectives. tesla's is as far as it knows, the government has not concluded any wrongdoing occurred. >>> microsoft is shedding some of his san francisco office space. reports say the tech giant listing 49,000 square feet for sublease. at five dollars -- 555 california street downtown. it is one of the city's tallest towers. microsoft plans to sublease to poison the building. this is weeks after the company opened a new a.i. innovation lab at the same site . >>> at a separate building at linkedin which is owned by microsoft, is offering five floors for sublease and is building. the auto workers strike is rolling. >>> in a surprise move monday, 6800 workers walked out of a stellantis plant in detroit and that is where the top-selling ram 1500 truck is made. more than 40,00

. >> chris: fsu would have a couple of wins against s.e.c. teams, if, in fact, they are sitting there undefeated. >> kirk: that lsu game could be huge for them. the willingness to play it, nonconference. >> chris: first down run by coleman. chick-fil-a bringing you this week's college football rankings. actually, this is as if the contenders go undefeated, excuse me. big ten, 100% chance. oklahoma, 100% -- >> kirk: who is this -- allstate -- >> chris: not mine, no. mine? i don't do this. >> kirk: didn't -- you're an analytics guy. i thought maybe you threw this together. florida state -- >> chris: nothing to do with it. >> kirk: noles fans, i have nothing to do with that 43%. that lsu win, to me, just keep that in your back pocket. keep that in your back pocket. >> chris: now we'll show you the chick-fil-a rankings, and lundy is down on one knee. ohio state making the big statement win at home against penn state with that defense. washington/asu, late start in tempe, just getting under way. it's in seattle, my bad. >> kirk: oregon, texas all

and so this matter is being sent back to the s.e.c.rting to build on u.s. regulators to take this bit coin e.t.f. filings seriously. when we heard the black rock smiling that sparked a a lot of interest. there's fi dill dellity and a lot of big -- fidelity that wants them approved. that's about testing more into the mark. further price gains for the concern similar on the timing of this, there's a lot including our bloomberg intelligence teams that says perhaps would we could see one approved by tend to the year. but it's shaping up to be sooner rather than later. and it's just a matter of time, shery. shery: the latest on crypto. that's source say nvidia are developing that's would challenge intel processors. and nvidia whose chips dominate the market is atending to make units for c.p.'s. i would run windows operating system and go on sale as soon as 2025. india's reliance industries is set to be nearing a cash and stock deal to buy walt disney's india operations. the entertainment giant may sale controlling stake in the bizone star b

it is that s.e.c. ops. you can see that now we have innovated.n similarly, we have also been rapidly and ready on the o foundation to innovate now. od we issue data degrees to mandate all dod data will be visible, accessible, understandable, linked, trustworthy, interoperable and secure. our initiative deployed data scientists to every combatant command where they are integrating data across applications, systems and users. we've developed and awarded four joint war fighting cloud compatibility contracts to ensure we have computing storage, network infrastructure to scale on demand. we stood up c.o.d.s cheap digital and artificial intelligence office from the ct boardroom to the battlefield. the secretary and i are ensuring is empowered to lead a change with urgency. and we have invested steadily and smartly in a company of technology. all this and more is mahelping realize. this is not a platform. it is a whole set of concepts, e technologies, policies and talents. advancing a core u.s. war er fighting contract. we are integrating symptoms and f

we have our first s.e.c. approved a.i. driven order type that we got approved by the s.e.c.r. and in financial crime management in particular, we're really using a lot of advanced a.i. there and have a generative a.i. capability that we're introducing into the work flows this coming quarter. >> tell us more about the antifinancial crime. we know all the time about these attacks. your identity is getting stolen, cybercrime is out there. what does this go after? >> this goes after two key things. one is fraud. as you said, criminals coming in and trying to convince you to give them your money. or actually really much more nefarious criminal networks, work and rooting out whether it is human traffickers, drug traffickers, terrorists out of the financial system. so, our technology, we pull all the data across 2500 banks to look at every transaction that occurs within those banks, to look at payee/payor and use patterns and practices of behaviors to look for and root out criminals and we alert the bank as to this might be a criminal activity and they go in and investigate it. >>

. >> because the s.e.c. staff would have been out and nothing gets approved. >> does that mean -- >> i think they are thinking about it. they have been thinking about it -- check your watch. >> that's a big move. andrew has asked why is it at 26. it could be 30. >>> talking about the government shutdown. it was averted over the weekend. the bill provides temporary relief. emily wilkins has been working the phones all weekend. what's going on? >> reporter: andrew, congress was able to keep the government funded over the weekend after kevin mccarthy did a 180 agreeing to work with democrats to pass a stop gap measure in te 11th hour. this continues the funding at current levels until november 17th and has $16 billion in disaster relief funding. it doesn't include ukraine or funding for the southern border. chuck schumer took to the senate floor and vowed that he would be trying to move forward on funding for ukraine. >> this is a bridge cr. temporary solution. not the final destination. we will not stop fighti

the s.e.c.he tv provider $150,000 for space junk, for not moving a dead satellite out of the way and into a higher orbit that is a designated space junk yard. while it's a small fine it sends a message to the industry to clean up. space junk can cause collisions with other satellites. >>> and the cdc says it's no longer distributing vaccination cards, those white cards that millions of people carried around with them. an easy way to track your doses that you've been vaccinated but they're rarely needed anymore. pharmacies say you don't need one anymore to get a booster shot. stay with "cnn news central." we'll be right back. ♪ >>> officials in baltimore are now searching for the gunman or gunmen who shot five people last night at morgan state university. four of those victims were students. and the shooting happened outside the school's fine arts center when a homecoming week event had just wrapped up. students reported hearing a loud bang as they exited. immediately the crowd began to run and s

why is the fec -- s.e.c. worried about his purchase and why did he not turn up?> the sec has been concerned as we learned today in the most clarity yet over these purchases in the united states, there are rules that require a holders of any public company to make disclosures when they cross certain thresholds, and going back to april and march of 2022 as elon musk was building up his shares, and his ownership of twitter ahead of the purchase of the entire company, there was a duty to essentially make the public. the question is how we handle those disclosures and statements that he made and that period as he was expressing interest in starting to become known that this was actually real thing. if you think back to that, it was more than he rig. it started out as something people were, wow, can you really do that, and became one of the biggest stories of business journalism and the first half of 2022, so would happen quickly, but he had regulations that he had the following terms of disclosure, and that is what the sec is into. in terms of why he did not show up,

investors slated to launch yesterday morning, but when the prospect of the s.e.c.osure looked like it would happen over the weekend, they tried to move it up to friday afternoon, but they were not able to cross the final "ts" in time. that is ago to people familiar with the matter that i spoke to. when congress averted the shutdown, birkenstock was able to move forward with the original plans. in documents revealed a few weeks ago, it showed top line growth for the year. i'm told the company is targeting a listing on the nyse under the symbol birk. for cnbc business news, i'm leslie picker. >> we will bring you all of the developments for birkenstock. >>> and planisware launches the largest french ipo next wednesday with the shares ranging at $16 to $18 each. >>> british retailer boohoo says revenue fell 16% in august. pres the uk firm says sales could fall with the economic environment. it kept the margins and improved inventory management. that was not enough to reassure investors. >>> rishi sunak's first tory party conference speech could be overshadowed after t

the s.e.c. already came down, so i don't believe in the use case for bitcoin.one has not emerged. i do believe in supply and demand driving a trade. as you get these etfs approved, machines from black rock and others, there's just not enough. so i'll buy a little more. i think bit coin keeps going higher. >> "final trades" is next. we'll be right back. (birds chirping) go. and go and go and go. ( ♪ ♪ ) but what if you... stop? you work hard, it's time for a bank that'll work hard for you. everbank brings security and a guarantee that you'll earn a yield in the top 5% of competitive accounts. going, that's what got you where you want to be. we're the partners for your next move. everbank. advantage, you. when you think of investment risk, do you consider climate risk? changing weather patterns are impacting the way we live and the value of businesses large and small. this can mean disruption to supply chains, changing demand for products and shifting regulation. what does this mean for your business, your clients, and your investments? ice offers data and market

pitched two years ago by ackman with approval from the s.e.c. on friday.ely have more on this coming up at 8:00 a.m. eastern on "squawk box." >>> apple issuing a software update to address complaints of the new model being too hot. it is normal for devices to feel warm when used for long amounts of time. the update will not reduce the performance of the new models, frank. i don't have that problem. i didn't get that new one. >> i haven't upgraded. it is easy to save a couple bucks. maybe i'll wait for 16. silvana henao, thank you. >>> we turn our attention to d.c. and the drama in the cap capitol. taking the government to the cliff just before the midnight deadline on saturday. the agreement is only kicking the can down the road as the republicans in the house find tension just boiling over. emily wilkins has the latest in d.c. emily, good morning. >> reporter: good morning, frank. you mentioned congress narrowly averting a shutdown over the weekend after kevin mccarthy ditched the strategy of trying on appease hard lliners and word with the democrats to p

. >>> the s.e.c. dropping its lawsuit against two ripple lab executives.laimed the ripple ceo and co-founder aided and ab company with crypto currency. bitcoin up 4% on this news. frank. >> pippa, thank you very much. >>> we will turn attention now to washington, d.c. and republican congress member jim jordan is not giving up his fight to become the next speaker of the house. a third vote is expected later this morning. emily wilkins has more on the story. emily, good morning. will the third time be the charm for jim jordan? >> reporter: at this point, it doesn't look like it. it was a long day on capitol hill yesterday. it ended right where it began. yesterday, we went in to take the third vote. it was clear jordan was still short to become speaker. now we have a vote scheduled for 10:00 a.m. today. it is not clear the needle has moved for jordan. he met with more than a dozen holdouts trying to see if he can switch their opposition to support. some of the new york members told me he tried to offer a deal on raising the caps for state and local tax deduct

complains to new minnow who is the head of the s.e.c. and the guy who famously coined the phrase "the vast wasteland" that his movie is on with all these i have add but these do present idealized versions of prent. it's also interesting that in the president's mention none of those are republican so hollywood rarely presents those depictions of republicans on the screen. >> i think we sauce them of that today in some of the discussions. what about reagan? he is the movie actor. he appears in films. how to use that to his advantage as president? >> i think his long history of being on multiple screens and multiple platforms [ indiscernible ] he goes out and speaks to a large audience is so first of all they trained him how to speak on multiple platforms. he knew how to speak on the radio and silver screen. he knew what to do on television so i think that trained himself as a good communicator but it also introduced him to the american people and when the democrats would say that reagan likes acid rain or want to get rid of medicare reagan

amid new hopes s.e.c. will finally approve a spot bitcoin etf.antime dealing with a problem as it ends the week in red. the tech giant parting ways the jon stuart. apple and stewart had creative differences over the content of us show. steve kovac is here with why stewart pulled the plug and why a show tackling hot button issues proved troublesome. >> "the new york times" reporting stewart walked away from the show after planning to do segments on topics like china and artificial intelligence. apple pushed back and tried to exert editorial control over the show, and stewart, he decided he'd rather cancel the season instead of cave to apple's demands. this is the latest example of apple apiezing china, and we know why. it's home to most of its supply chain and depending on the year or quarter, as much as 20% of sales. this was apparent 11 months ago when covid lockdowns in china led to iphone factory workers protesting and facing violent pushback from security forces. apple said at the time it was monitoring the situation, but after that, nothing

key technical level, and, of course, as many anticipate perhaps the s.e.c.k from its cases. are we looking toward some sort of e.t.f. in the future? it's some sort of haven. that's the key question. meanwhile, we want to talk more about some private markets, an allocation of funds here in the u.k. some of britain's largest pension firms have committed to allocating a minimum of 5% of confined contribution funds to unlisted equities by 2030. the aim is to unlock over perhaps 50 billion pounds of new capital by the end of the decade. joining us now is someone who's spear heading this movement, you oversee basically the economy of the square mile. you try to anticipate the ways in which we can make it thrive, and one way is you think allocate pension funds of which you come from, why startups? why is that a benefit? >> look, the starting point about pensions is to get the best returns for pension, and we must never move away from that as a fundamental underopinion here. the most successful pension funds in the world, usually the canadian state pension funds, ha

all those schools are moving tot the big 10 or the acc or s.e.c. >> jean smith, is it true what he says? does he preach the truth right now, gino torretta? >> i don't know about preaching but what he said was pretty good . i think the core issue there is in the transfer portal, those things coming together with where we are with nil. we've got to remember transferring is a good thing. student athletes deserve the same rights as other students. u now our institution, where student athletes decide to transfer, we've got to make sure we understand why. if they're transferring because we made a commitment that we didn't live up to, then we need to go look in the mirror, don't point the finger at the student athlete. so that's one. but the reality is the s.e.c., the big ten, the particularly have done a great job over the years creating a culture that everybody else wants to be a part of. that's reality. >> gotcha. here's a toss-up question for every panelist. i'm going to ask you to give me a number and that number is your confidence on a scale from one to 10, 10 being absolute confidence t

then, they were transferred to another entity when they had to disclose that to the s.e.c. robin hood investment without it all being linked back to alameda. this was just day one of her testimony. elly sohn left the courthouse today, initially actually got in the wrong uber, or the wrong black car, happens to the best of us, but she returns again tomorrow to testify. back to you. >> imagine if she took that car. kate, thank you. kate rooney. what a trial it's been so far. only day one. bitcoin has been pretty stable of late. >> hanging in there. we talked about this at the time, was never an indictment on bitcoin -- >> right. >> it was an indictment on the alleged, i got to be careful here, right, fraud that was going on there. >>> all right, up next -- oh. it's final trades. >> it's time already? >> wow. meet gold bond daily healing. a powerhouse lotion that moisturizes, heals, and smooths dry skin. with 7 moisturizers & 3 vitamins. and... new gold bond healing sensitive. clinically shown to heal & moisturize dry, sensitive skin. gold bond. the first time you made a sale

you can go online and read the s.e.c. filings, which contain a wealth of information.nce calls, which is the best way to get familiar with the business and the key metrics that will drive the stock. feel free to read journalism on top of that. google it. listen to opinions, anything to familiarize yourself with the company itself, the way stocks trade, that can be daunting, the kind of homework we do for you on our favorite names, the cnbc investing club. it's a must to join people. after tonight's show. just sign up so we can show you the hard work we do. by the way, lately i have been starting with the web site. i have to admit, i like the company's web site because they have gotten so much better. the actual research is part of doing the homework. after you learn what you can and develop a thesis, a theory about why you think the stock is headed higher, you need to be able to explain that story to another human being. ideally an adult to ensure it makes some level of sense. walking down wall street, you see me, you're buying a stock, i'm going to say what does it do

how do you plead to count 15, conspiracy to commit violent false documents and indictment number 23 s.e.cthis comes just one day after another coup plotter and another lawyer, sydney powell, notorious trump attorney that promise to release the kraken, also -- in exchange for her pleading guilty to misdemeanors, she got probation in a fine and promised to testify truthfully at all proceedings involving the remaining codefendants. and of course includes the ex president. as of yesterday we knew that she is broidy previously declined to plea along similar lines. but today, with jury selection for his trial already underway, he pleaded guilty to one lo count of conspiracy to commit fing false documents relating to the fake electors plot and agedo testify against the remaining defendants. like powell, crucially, he avoids jail and prison time. he gets probation and a fine in return for his guilty plea. so now, out of the original 19 defendants you see there on the screen, in trump's legal trial, there are now 16 left, three cooperators who have agreed to provide testimony and take please. two

in june, the s.e.c. did take action against binance, which i think has the hamas accounts that you are describing. >> one more question for you, congressman. you are a member of the house of representatives. one of the two chambers of congress, it doesn't have a speaker of the house. until republicans agree on the house speaker, congress cannot pass any aid to israel. where does the republican conference go from here? do you think, in the end, they are going to come to the democratic caucus looking for votes for help? >> i have often said that if the house of representatives were a country it would be a failed say. it has nothing but incompetence, extremism, dysfunction. you have a republican civil war, you had a republican coup d'État. it is crystal clear that republicans have no ability to govern on their own without cooperation and bipartisanship from congress. the savior is hakeem jeffries. we invite republicans to partner with hakeem jeffries to restore stability in order in the house of representat

asking whether the federal judiciary should blow up the s.e.c.most certainly whether the court should outlaw medication abortion nationwide, and so many more kind of barn burners. this is a real reckoning and i think john roberts is in the hot seat because he's enabled so much of the slide to the right, and he's going to see if he can control the pace of this revolution. >> when are we expecting to see the abortion decision? >> so the court has not formally taken up this abortion case, but it will. it has already weighted in, halting the fifth circuit's decision that attempted to strictly limit access to abortion pills. the full court will probably grant the case within the next few weeks if not months and render a decision before june. that means for most, if not all of this term, it will be an open question, whether people in blue states where abortion is perfectly legal will retain their access to safe and effective medication abortion or whether unelected judges will pull it off the shelves. >> it's a test of the way we approve our drugs, and

the s.e.c. would never sanction this stuff.nt to i abank to borrow money with these projections they'd laugh you out of the room. yet wall street let these spac deals happen because the investment bankers wanted the fees of course. meanwhile the securities and exchange commission was asleep at the wheel. you couldn't count on them. wall street's a strange place. there's no one around who says you know what, we shouldn't crush people with made up estimates and impossible to meet projections, we shouldn't close our eyes to what we know can't work. because they want the money. they didn't care that you, that the people running the spac targets were charlatans. they didn't tell us. they didn't police themselves because the regulators didn't seem to care. we couldn't even spot it. eventually the most egregious of these spac operators got prosecuted but not until they lost people fortunes. and the level of hype was ridiculous. the whole spac boom started with nikola. and that was an electric vehicle play with a stock that soared to t

but in the s.e.c., for example, which is going to establish this fall, n.s.f.s a founding member of that. so we're really trying to bake in the n.s.f. to everything we do and frankly leverage their great work especially around work force training. >> you're way ahead of us and that's very encouraging. secretary raimondo, the shapes and science directs the office of science and technology policy to develop the technical science strategy to establish national research goals and especially in terms of emerging technologies, and we've been looking at how research standards, new commercial applications in the field of a.i. are going to transform not just our chicago but our global competitiveness. i thought it useful to get what priorities does the department see are important in this kind of forthcoming strategy to reflect in the field of a.i. sec. raimondo: we should visit on this when we have more than 19 seconds to talk about it, but nist is a standard setting body, they're kind of the lead agency in the administration's work on a.i. and have put out their risk

so you think about the s.e.c.ir scope three regulation forcing folks to come up with data that frankly is not accessible so a lot of these regulations don't make any -- don't make any logical sense. >> you can't do anything. >> think about what we're trying to do with chips in the kun frid country and all the inputs needed we can't act those in the united states because we can't nemi them it toakes 15 years for a permit >> we're out of time but thank you for coming in today. jay timmons. "squawk box" will be right back. but to advance how the game is played. aaa relies on t-mobile's network to stay connected nationwide, so they can help get their members back on the road. and we're helping pano ai innovate, to stop the spread of wildfires. now's the time to see what america's largest 5g network can do for your business. >>> good morning this week's market turbulence set to continue on the busiest day of earnings season the futures are under pressure dow down over 150 points. >>> ford and the uaw reaching a tentati

we'll speak to former s.e.c. chaijar y clayton about the case and much more. ready for jay clayton, can't wait. "squawk box" will be right back. >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. with gold bond... you can age on your own terms. retinol overnight means... the smoothing benefits of retinol. are now for your whole body. plus, fast-working crepe corrector diminishes wrinkled skin in just two days. gold bond. champion your skin. let newage products transform your garage into an area of your home you can be proud of. modular steel cabinets let you pick and choose the storage solutions to keep your garage organized, with overhead racks and shelving, slat wall, workstations and flooring that let you create a showroom garage to call your own. designed for diy installation. all you need is one weekend to take your

but in the s.e.c., for example, which is going to establish this fall, n.s.f. is a founding member of that. so we're really trying to bake in the n.s.f. to everything we do and frankly leverage their great work especially around work force training. >> you're way ahead of us and that's very encouraging. secretary raimondo, the shapes and science directs the office of science and technology policy to develop the technical science strategy to establish national research goals and especially in terms of emerging technologies, and we've been looking at how research standards, new commercial applications in the field of a.i. are going to transform not just our chicago but our global competitiveness. i thought it useful to get what priorities does the department see are important in this kind of forthcoming strategy to reflect in the field of a.i. sec. raimondo: we should visit on this when we have more than 19 seconds to talk about it, but nist is a standard setting body, they're kind of the lead agency in the administration's work on a.i. and have put out their ris

rules in the reconnect program and ntia has thrown requirements in the bead program and last week the s.e.c. aannounced it will reinstate the obama regulations on the internet. don't ask me why you'd want to integrate the internet as a monopoly but they seem to be headed down that road. with respect to the bead program, i find it troubling the administration would put over $40 billion in broadband funding at risk just to accomplish a campaign talking point. i would argue that instead we should be establishing efficient bead rules that incentivize the participation of companies that have spent years building out reliable networks to some of the most remote parts of the country. will you commit to not require states to include specific price points for broadband offerings in their bead plans, yes or no? sec. raimondo: i want to be clear we're not regulating or price setting and not requiring states to do that. furthermore, we want all providers, large and small to participate in the program. the way we're doing, every state, your governor would create a plan that they think could meet the nee

if you are the most seasoned person, you are the s.e.c. deck. those range things from power competition, less midtier defense.e. counterterrorism, what you want your military to special in more than other skill sets or service or capabilities? but then you have four sides like mike talked about. readiness, total dollars spent and modernization. how modern is it? of course the military is always a blend of old and new and brand-new stuff. that kind of what you are working with in terms of making choices and changes and you're pretty limited. those are big choices and c changes and they have big dollar tales to them. that silly faction of total spending. like i said, you want major muscle movements, you have to make major changes to outcomes that you expect the military to achieve. i see the opposite happening. what i see as military is the super walmart of federal agencies. it is the easy button that everyone pushes for everything. it's not moving in the il direction of due west to be better at the fewer things we want you to do, china, et t. cet

the s.e.c. declined to challenge a court decision against gray scale investments.publicly traded trust into an etf. you have blackrock and fidelity with a bitcoin application out there. investors say the abrupt spike higher this week is likely due to action going on in the options market. short covering by traders who bet against bitcoin, they have to buy back that cryptocurrency. that's sparking the rally. bitcoin has seen $250 million in short liquidations in the past day or so. crypto stocks getting that boost. coinbase is listed as a partner in a lot of these etf applications. back to you. >> microstrategy, absolutely. of course, we haven't talked to michael sailor in a little bit. thanks, kate. >>> that does it for this hour of "squawk on the street." don't go anywhere, though. a big hour coming your way right after this. the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that alway

the s.e.c. has empowered the trace back group and phone companies to block by default illegal calls and it provided a statement for today's hearing and without objection, i would like to enter it into the record. however, it is important that we recognize that robo calls and texts are not just a nuisance. scammers use our networks to defort lauderdale americans out of $39 billion. that was just in 2022 alone and enough to provide broadband to households enrolled in the connectivity program for eight years. i hope you understand what that means. scammers and fly by night companies are stealing the dollars to do so and don't face any consequences. the fines go uncollected and the company dissolves and moves elsewhere. congress must empower our regulators to ensure that when an individual or company breaks the law, they are held to account. part of the reason these scammers are effective of tricking consumers and evading enforcement is that the technology is evolving. we will hear testimony that th