bill ackman plays a small role in that book as the counteroffensive to it.hat's interesting is that longtime democrat is now openly supporting trump. kelly: yeah. >> now, he was at -- i was able to confirm this, so this is kind of -- i broke this in my new york post newsletter, he gave $500,000 and showed up on the dais of the recent trump fundraiser in the hamptons that clogged up traffic so much -- [laughter] where i think trump might have raised $15 million. it was put on by cantor fitzgerald chief howard lutnick, and ackman was up there on the dais chewing off, chewing on -- i don't know, what's the cliche? chewing off donald's ear? [laughter] kelly: i think we're going to have to leave it there. >> but to get there on this stage, you had to give -- kelly: a lot of money. >> we've confirmed that. that's the highest priced ticket that the fundraiser had. can. kelly: well, a lot of big names there. charlie, appreciate your time. okay. more than 91% of s&p 500 to have posted earnings, still, there are some big names including home depot, walmart, cisco syst

. >>> and big moves by the likes of buffett, ackman and tepper and others cutting key positions and taking stake in names you know it's thursday, august 15th, 2024 you're watching "worldwide exchange" right here on cnbc ♪ >>> good morning thank you for being with us. i'm dominic chu in for frank holland this week. the s&p and nasdaq coming off the fifth positive session in a row. futures indicating it might be -- might be six the dow is implied by 85 points higher s&p up 4.5 points and nasdaq as high as 32 we are looking at the pre-market gainers. cisco getting a boost on the back of the earnings report and fresh job cuts nike shares rising following the stake from one high profile investor walmart shares are higher ahead of the earnings report later on this morning we have more on all of those stock stories coming up in the show we are checking on the bond market as investors prepare for jobless claims and sales data before the opening bell. the ten-year note yield is a hair over 3.84%. the two-year note yield at 3.96%. the 30-year long bond ticking higher at 4.129% u.s. oil prices coming

this is bill ackman in a statement. he said there was enormous investor interest, but the question that remained was whether investors would be better served waiting to invest in the aftermarket than the ipo. that question led him to reevaluate the fund structure. what do you think? >> we heard it backed out as an initial investigator. it was clear it was on the skids on the path to the public offering. they had an offering if you understand ago which valued the firm higher. you wonder what's gone on in the time since to the valuation. >> right. to me, the question -- closed-end funds historically have not been a great bargain for investors. i think there was a sense that maybe both the way he was trying to structure it and the interest in bill ackman. bill ackman has become a social media star. he has these followers on x and other places. whether the retail audience was going to come in, but the institutional guys, which is what you need at the base of the ipo. that is the question he suggested in his statement. some

billionaire hedge fund bill ackman has paused his ipo offering for pershing square usa after investorhe investment fund as a company that will be unknow in the public market. investors seem disagreed ackman raising to raise 25 billion before dropping the target down to roughly 2 billion just this week, he writes on x would investors be better served waiting to invest in the aftermarket and ipo, this question has inspired us to reevaluate ps u.s. structure to make ipo a straightforward one, we will report back once were ready to rip until launch a revised action. now to paris, americans kayla jackie winding her eight olympic record time with the 1500-meter, the 27-year-old tying for the most olympic goals and women's swimming, the 12th olympic podium she tied for most olympic medals overall and women's swimming smashing records despite rumors that france brand-new olympic pool may be slowing swimmers down some critics say it's to shallow creating waves to swim against, meanwhile in the river after multiple delays triathletes finally swam and the notoriously dirty river which france by

pe penney. >> mike, you're not surprised by the ackman news at all, whether it takes on an activist rolenot, you thought this stock was pretty rife for somebody of that ilk to get into it >> i did, just on an opportunistic basis simply because the fallen angel effect of nike and the fact that it was a serial disappointer arguably, you know, maybe there's some strategic kind of course corrections that were necessary, and you know, for whatever you think about its growth path, it got cheaper relative to the market than it has been most of its history. during the second sququarter, people thought the bad news was out in that disastrous earnings report that actually had that extra leg lower. yeah, it doesn't surprise me not clear what you'd say should be done. i think that's thinking about this whole set of changes is that a lot of money and motion for these opportunistic opportunities in a split market because i think that's the -- that's the makings of these moves is, you know, you had seven stocks driving the index where later in the cycle, if you haven't done it now, when are you going t

ackman made $100 million profit trading in and out of the nike stock back in 2018 some back grgrounde to the position and the loeb's third point cuts meta and added apple with close to 5% of the portfolio now invested in the cupertino giant. when it comes to berkshire hathaway, we got more detail there. we know basically they have been on a selling spree which saw it offloading more than $75 million in equities in the second quarter as it grew the cash pile to the all-time high of $277 billion. just to put it in context, that's larger than the annual output of new zealand as well as portugal warren buffett's 40 million apple shares and cutting the holdings in capital one the firm bought $266 million of ulta the shares in the beauty retailer gave the boost in the extended trade and up more than 16%. it is important to say that money managers with more than $100 million in assets are required to disclose the long positions with the s.e.c. 45 an days after the quarter ends. active traders could have changed positions by the time the figures come out that's an important update here. of c

. >>> big ackman pressing the pause on the closed-end fund ipo after lack of investor support forcedinking the structure of the fund to address investor concerns. >>> 23 and me ceo taking the genetic testing company private. she is prepared to acquire all of the stock. >>> microsoft's says the a.i. partner openai is part of the competition. in a filing with regulators, microsoft says openai's push into advertising complicates its relationship. >>> arm holdings sinking ahead of the opening bell raising concerns among investors of the growth prospects. arm did beat on the top and bottom lines, but ceo rene haas says they are seeing growth in some markets. we will get initial jobless claims and manufacturing pmi and manufacturing data. earnings from apple and amazon, in intel, snap and conocophillips. the latest policy decision from the boe with the expectation of the bank's first interest rate cut since 2020. u.s. tariffs increases on evs, batteries and medical devices is set to begin today: lefutures right now are mixed. s&p is up modestly. joining me now is megan shue. she is a cnbc

bill ackman's pershing square is pulling an ipo for a u.s.sizing its fundraising target and facing difficult questions from investors. pershing square cut the anticipated size twice in just over a week from an initial target of $25 billion for just $2 billion. ackman says the firm will reevaluate its structure based on investor feedback. we are counting down to the open of trade in india. couple of stocks to watch as well. we are waiting on earnings for the june quarter, profit expected to jump almost 64% lead by an increase in sales volumes. there have also been a number of price hikes for commercial vehicles over the past year. net income 36 point 5 billion rupees, up 47% -- in income -- net income 36.5 billion rupees. talking about indian automakers, how are they doing this quarter? >> the earnings for indian automakers have started to come. india's biggest carmaker had an incredible show yesterday. it beat estimates by big margin. that was largely led by its suv sales. in india, the suv has been the flavor of the season. sales could climb

pausing ipo is offering for pershing square usa after investor interest dropped off ackman spent weeksa company of note in the public market lineage making debut on nasdaq last year raising 4.4 billion dollars largest public offering this year now we've got some expectations if ipo market down for the rest of summer two individual names i want to get your take on 60 thousand feet, renaissance capital finds there have been 82 ipos priced this year total 23 billion dollars, what does future look like. >> i think that that is large, you've got a few different components first and foremost private equity the portfolios investors suffering from indid i jession as ceo put to me consultation have not had compatible recycled they need to get in ipo narcotic secondary officers of companies public you been to go ahead attempt to give their investors liquidity, because we have a virtual contributor circle not able to put money in funds i though i if only companies i use that word advisedly, because so pent-up there are amazing companies that are getting ready to go, so that part of the market i t

investing giants like warren buffet, david tepper and bill ackman filing 13-f reports for the secondnside their ports, at least portfolios as they stood on june 30th berkshire hathaway disclosed the size of its apple stake, 400 million shares and decreased by 49%. buffet's firm increased its holding in global insurance giant chubb to 27 million shares remember that was the mystery stock revealed in may. and then as i mentioned a bit ago, ulta got a boost from a small new position from berkshire. the stock up more than 10% on the day. pershing square making moves in consumer discretionary bill ackman's fund revealed a new stake in nike. it bought 3 million shares in the quarter and disclosed small decreases in chipotle and restaurant brands. and you thought peloton had stopped spending, guys no david ionhorn revealed a new stake of more than 6 million shares in the company in dme capital management's q2 filing so somebody believes that the wheels are still spinning. big tech -- if it's crickets it doesn't count -- temper's aplieusa sold alphabet, meta, and microsoft. dan loeb's third

it's not the first time ackman's owned nike in pershing squared made $100 million profit taking nikever a six-month period. >> nike has been laboring quite a bit lately we'll see. it was up about 120 if i'm remembering, as recently as last fall, we'll see whether they've got the sauce to get it back. >> there's competition on holdings as well it's dealing with a lot. >> there are a lot more sneaker makers out there fighting for share and doing very nicely. >>> amazon one of seven other companies looking at expanding drone use in the uk. the key is this test would let the drones fly out of the visual line of sight of the drone operator restriction of the faa in the u.s. has as well a key part of the test will be etthe drones can detect and avoid other flying objects including, of course, airplanes or maybe cups of guinness. >> this was jeff baezos's pet project. we're still not seeing them out there. >> seema, great to have you with us. >> thanks for having me. >> thanks for watching "power lunch," everybody. >> "closing bell" begins right now. >> all right, thanks very much welcome t

they will tell you that i think the stop chipolte is richly price from 50 times earnings and bill ackmanter and comeback state in the latest quarter. jack: one analyst told me think that starbucks is fair value more excited papa john's and they had a turnaround and turned into an internal around in his ceo is left for shake shack one from wendy's has taken over papa john's is like fast food ceo twister. nancy you pointed out that there's been sort of broader weakness in retail and restaurants including at the hyatt. andrew: you see casual dining is been week area the stock market and businesswise in terms of dinette and brands tough. get strengths like shake shack and so glad to the place out and also the high-end in terms of consumers and leading luxury retailer has had a tough first half of the year in companies like european wax sinners getting wax stock market. jack: this not car wax with the various bodily regions and is a high-end consumer c5's discretionary. jack: i don't know how we got here i just back on track meghan when you see from consumer. meghan: i think you make good poi

[l in recent years, one of the mos successful wall street investor has been bill ackman. he has built pershing square into one of the most successful and listened to firms on all of wal but he has been outspoken in a number of other areas including philanthropy and politics. i had a chance to sit down wit bill in his office recently to talk about a variety of issues, including his latest bet on where the economy is going. there is a general consensus in the united states in some circles that we probably have avoided a recession for the nea future, we are going to have a so-called soft landing. that is the consensus. is that your view as well? bill: i think it is really hard to predict. i do think the economy is weakening. we are seeing evidence of that in some of our companies. i have some concerns. there has been a huge subsidy in terms of low interest rates, and most companies fix their rates or their debt at very low rates. certainly real estate investors did the same. that works until it does not work. so i think what's going to be interesting is to see what happens w

bill ackman's pershing square withdrawing its plans for an ipo a closed fund. >> "squawk on the street" heads to paris. the latest from the ground at the olympics as "squawk on the street" continues after this break. with so much entertainment out there wouldn't it be great... ...if you could find what you want, all in one place? show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some of the biggest names in streaming, all for just $15 a month. get the fastest connection to paris with xfinity. >>> welcome back to "squawk on the street." fed chair powell saying a rate cut could come as soon as september if the u.s. economy follows its current path after the central bank ended its latest policy meeting keeping rates unchanged. joining us to talk about the road ahead former dallas president rob kaplan, vice chairman at goldman sachs. nice to have you on set. >> good to be here. >> impressions from yesterday. >> >>. >> i think jay powell did what he needed to do. he didn't commit to a september hike but set the sta

some showed up on long island including billionaire hedge funders, like bill ackman. at the dinner, harrison lefrak, asked how trump planned to take back the narrative from democrats, what his vision would be. trump divided none, said he criticized ms. harris on a range of fronts before adding, i am who i am. he has more self-awareness about himself than a shocking number of people in republican politics. he won't change. you know who else understands this? the voters do, like the ones in this focus group held after trump's first joint address to congress back in 2017. that is the one they called real. >> the real donald trump will surface in less than two hours. >> the next thing he needs to do is delete his twitter feed. >> how many of you don't like what he does on twitter? how many of you voted for him and don't have twitter? >> if you don't have twitter you cannot defend donald trump. >> donald trump got back to posting on the site, the platform he was kicked off on for inciting a deadly insurrection at the u.s. capitol and attempting to end d the american democr

rate cuts and inflation data lives and at the etf market become attractive to more big names, bill ackmanxt one to launch a pershing square fund. we will discuss. and his return staffing booms and popularity, we discussed that strategy with newfound research. but as alwa

will: bill ackman. rachel: that's a great point, pete. those names get elon musk, rfk, tulsi gab bard, rfk jr., they are all people that want to disrupt the current people. rachel: would you take a position in the trump administration as health czar? >> well, one way or another i'm going to work on this because we have a generation of kids swimming in a toxic sludge right now and we're going to be taking care of our kids and nobody in the world is the democratic of the conduct and really fascinating conversation. rachel: at the end of the interview, pete: i think our network was the only one that aired in realtime the trump rally -- the other networks don't do that . even with something as news worthy as rfk jr., they won't do that . even if it's 1%, will, of that 5%, in state where is it comes down to 0.5 or less, this is really significant. probably more significant than the four days they held in chicago is what happened yesterday. and it was the actual account of the vote on november 6. will: bingo. two things, and rachel six or seven

bill ackman, wow. leslie, he's trying again?gain, he said in a press release they would re-evaluate the structure and noted they will report back once they are ready to launch a resized transaction. the issue at the core, at the time, is the close in funds, and that makes an ipo investment a risky one, and raising the initial target of 25 billion -- even a scaled down $2 billion was lingered by the questions as to whether interested investors should wait until the after market to purchase shares. and now it sounds like he's seeking to revive ipo. the ideas include giving the investors the ability to buy extra shares and fixed price warrants and would that give fund investors an opportunity to buy into the hedge fund, and that was an evaluation upwards of $10 billion. the discussions are fluid at this early age. pershing square declining to comment on this reporting, but definitely creativity -- he's not one to lack in creativity. >> he's relentless like so many others in that industry. you know, that dream of permanent capital d

. >> my question to the likes of ackman or elon musk, would you ever hire donald trump? would you do business with donald trump? the answer is no. james, it's not like kamala harris is hiding out. we see her every single day. a ton of appearances. but there is this pressure coming from journalists, obviously it's a coming from the right, for her to sit down for interview. do voters realize the difference or care? they are getting to see her platform. i might like to see willie geist sit down and interview her, but does it matter to voters? >> she has been the nominee for four weeks. they had to pick a vice president, they had to merge two campaigns together. they've had to produce speeches and line up endorsements. you know, the whole world is not waiting with baited breath for her to do a sitdown longform interview. i am sure she will at a point. debate set september 10th, so you're more than welcome to ask about it then. i have not seen one thing about vice president harris' campaign that i could be remotely critical about. i think the speeches are well written. i thin

ackman disclosed that pershing holds 3 million shares worth $230 million. outside of retail company news the government said that u.s. retail sales accelerated in july. we talk up -- we caught up with tom who still sees weakness even with the positive headlines. tom: you are seeing delinquency rates on the rise and you are seeing the unemployment rate rise. it is relatively low but up .7%. i think you are starting to see the type policy showing through. scarlet: nonetheless the headline retail sales number came in stronger than expected and markets are recalibrating expectations without the fed proceeds. putting this altogether we would like to bring in the global chief market strategist, victoria fernandez. good to see you. let us take a step back. what does this data and here we are referring to ppi and cpi and retail sales mean for the growth scare narrative starting to take hold after last monday? victoria: thank you. when you see the reaction can tell that it is taking a little bit of a breather and saying that maybe we are not headed for the recession

was highlighted by a company warning that third-quarter cash burn could reach $10 billion paid bill ackmansshing square has withdrawn a initial public offering for a closed end fund after facing difficult questions from investors. pershing square says it will reevaluate its structure based on investor feedback. the withdrawal comes after the hedge fund manager slashed the anticipated size twice in just over a week. donald trump has thought to question vice president kamala harris's racial identity at a contentious roundtable with black journalists, fumbling an attempt to reach out to voters of color. >> i have known her a long time indirectly. nctly very much. she was always of indian heritage. and he was only promoting indian heritage. i didn't know she was black until a number of years ago when she happened to turn black. now she wants to turn black, now is she indian or is she black? tom: harris later condemned his comments as divisive and disrespectful. ai investments might pay off. more on the upbeat earnings reports next. we bring you the details. this is bloomberg. with so much enter

ackman's pershing square owns 3 million shares.t revealed plans for that investment, but you've got to imagine they'll do something. great week for nike with the olympics' after-effect, it's down, it's lost a quarter of it value this year considering the gain we've seen this -- stuart: robinhood, a big bank saying buy it. lauren: deutsche bank. they see shares going to $24, 20% upside. they call growth potential, quote, exceptionally attractive. think about it like this, their trading volumes are up across. equities, options, crypto. it's popular. stuart: got it. thanks, lauren. coming up, mayor eric adams, new york city's mayor, calling for an end to new york's sanctuary city policy. are we finally starting to embrace common sense? >>> a minnesota grandmother was thrown in jail for violating tim walz's covid lockdown rules. she says walz is a tyrant in disguise. she'll make her case, she's on the show. >>> it's been three years since the taliban took control of afghanistan. they held a parade yesterday with equipment that america

how does bill ackman, steve schwartzman, the likes of these guys say yeah, he is on it. >> steve schwartzmanample .77-year-old billionaire. he presides one of the most important initial firms in the world for all intents and purse. the president of his company is deeply supporting kamala harris and other democrat candidates. >> that is trumps doing. some of these guys are trying to back him he is just humiliating. >> it is simple, you know this. they want deregulation and they want tax cuts that the most important point is 77, that is a really interesting split screen when you think about these two candidates that are running for president right now. i think that again the deeply cynical approach that the older generation has versus the optimism that the younger generation has right now. >> i don't know why trump doesn't play ball here. what is the point of a social media post like this? i also want to talk about the world, though. because yesterday we had this massive antitrust ruling against google. a federal judge calling them a monopoly. this was driven by the biden administration you al

. >> my questions to the likes of bill ackman or elon musk, would you ever hire donald trump? would you do business with donald trump? and the answer is no. james, it's not like kamala harris is hiding out. we see her every single day. a ton of appearances. but there is this pressure, it is coming from journalists, obviously coming from the right, for her to sit down for an interview. do voters realize the difference between live events or an interview? do they even care? because they're getting here for her, they're getting this year for platform. i might like to see willie giese sit down and interview her, but does it matter to the voters? >> she has been a mite busy. she has not been the nominee for a week. they had to pick the vice president. they had to merge two campaign staffs. two coaches together. they had to produce speeches. had to line up endorsements. you know, the whole world is not waited with baited breath for her to do a sitdown longform interview. i'm sure that she will at a point. there is a debate scheduled for september 10th, so more than welcome to ask ab

doesn't hurt also to find out that ackman's in there as well. lot of these names, bro had a phenomenal earnings report recently. kroger, worried about that. if there is a harris administration. >> right. charles: can you legally make profits? these are names for the most part that are household names that are not necessarily kind of stocks that go straight up all the time. >> the cool thing about this is, we're matching our great analysts at bmo. they're outperform rated with how they're looking at things from a screening and portfolio side. look at amgen. you and i grew up in the '90s. that was go-go, mojo biotech. now more of a value stock even though the stock is at or near all-time highs. we're talking about dividends and strong cash. air products is phenomenal company. charles: phenomenal company. >> nike has its issues. our analyst really real likes it in terms of unwinding management perspective. google we owned for 12 years. charles: no concerns about breakup? >> breakup could be positive if you take a look at some of the pieces. look at

>> joe rogan, mike rowe, dana white, bill ackman, kid rock. how about larry kudlow tr treasury? he's smarter than janet yellen. and his haircut was brougheat you by tupperware. >> judge jeanine could be attorney general. finally we could deport geraldo . never over vivek. right. he could be secretary of state. what better way to reflect than outsourcing an important job aou to an indiantsou? >> tyrus could head up homeland security. ,he's big enough to beity. the department of homeland security enough . part time. part time. part part time cat could be the secretary interior because she never leaves her house. kill me. could head up the department of transportation. aftehis careerr all his career r wreck. >> how about pete hegseth, the head of veterans affairs? you know . uphold >> he'll uphold the constitution when he's got it tattooed on his armstitutiow >> then there's me. what should i do? thens a new position for secretary of muscle's. >> yeah. you won't get ripped. >> you. you'll just get ripped. look we already got the makings of the most anti-establishment presidency ant

you see the worlds clashing, bill ackman versus harvard, m.i.t.thetical landscape playing out in the real world. >> bill ackman, i assume, is somebody in the river, in your world. >> he's in the river, for sure. >> is harvard in the river or in the village? >> harvard is the village. >> we should realize, it is all like 1%, it is a clash within the % of people. most people don't care about the stuff as much. but it is a rivalry for intellectual supremacy, i suppose. >> who do you think is winning? >> financially, the river is winning, i think. look at silicon valley, it does very well financially. tech becomes more of the economy every year. >> so everything these days is becoming gameified. what color gatorade is going to be poured on the winning team, all that stuff. in that scenario for society, does the river become more dominant? >> yeah. >> society as a whole, you know, embraces risk taking? >> it might not be great either, might be a winner take all economy, if you have high agency and good at making calculations, you do very well for yours

bill ackman originally said biden should step down. he started with biden should step down.he moved to trump. there are a bunch of people who moved that way. are any of those people moving back? >> i don't think they will publicly backtrack in a really aggressive way. i think they had a moment where they were at the rnc where you see a lot of silicon valley types. they feel jd vance is their guy because he was a venture capitalist. now that has dimmed a little bit. i feel these people feel they are too far in to the trump campaign to take a step back. at this point, you want to bet on a winning horse. if you made an investment in one campaign, you want to stick with it. of course, all of these wall street guys grow up dreaming of becoming finance secretary. >> i was going to go crypto next. >> i thought you were going treasury secretary. >> i didn't mean to steal your thunder. we can do the one-two punch. >> crypto first. she or people on her team are reaching out to people in crypto land, is there any movement there or is that self defeating? >> it is interesting. there was

bill ackman's has withdrawn his u.s. ipo. help him raise -- then he cut to 4 billion and 2 billion in over a week. pershing square says it will reevaluate its structure and report back. that is your brief. jonathan: up next, moving closer to a rate cut. >> arc is already priced me in september with a high degree of certainty. what are you waiting for. why take the risk of the economy deteriorating further? jonathan: that conversation is up next. live from new york, this is bloomberg. ♪ ♪ [suspenseful music] trains. [whoosh] ♪ trains that sense what isn't on the schedule. ♪ trains that use the power of dell ai and intel. ♪ to see hundreds of miles of tracks. ♪ [vroom] [train horn] [buzz] clearing the way, [whoosh] so you arrive exactly where you belong. jonathan: breaking news the last couple of minutes. i will share some of that and go through it carefully. russia releasing wall street journal reporter and former u.s. marine paula wheeler as part of a major prisoner swap with united states according to people familiar with th

and nike shares, these have been languishing, but nike after disclosure of a big steak from bill ackmanof that is driving the stock up 11%. starbucks and nike, the standouts. back over to you. >>> we are getting economic warnings from the chicago fed president, now what did you hear, steve? >> in comments that sound like a fed president want to cut interest rates pretty soon the chicago fed president morning that the fed has to be careful not to stay too tight for too long. talking to npr he said you don't want to be tighter longer than you have to and the reason my is if you are afraid the economy is overheating this is not what overheating looks like to me. we have had mixed signals with the economy. member the jobs and unemployment numbers were up, housing this morning coming out week, jobless claims have been moderate, not sending much of a warning signal and retail sales were strong. all of that combining our rapid update before housing came out, but before it was compiled, 2.4%, for the third quarter. the probability of a rate cut in september reflecting uncertainty about the econ

stock grows over 5% you may recall thursday after big ackman's pershing square revealed a new stake inike. analysts in play today. big analyst calls of the day head to cnbc.com/pro. full access to all analysis there. andrew, back to you. supposed to toss it back to you. >> thank you, sir. have a great weekend. >>> i want to talk more about the markets this morning and welcome our guest, cio and senior portfolio manager at an investment group. good morning. >> good morning. >> what do you make of this wild ride? a week and a half, now two weeks of crazy? almost like it didn't happen. forget it happened? >> maybe not, though, because actually since the july 10 data point the nasdaq still underperforming. russell 2000 valued by 1,000 basis points. time will tell if that marked a pivotal moment. i think that one of the key, obviously, indicators, obviously, inflation reading coming down. something i would posit is that if you look at the spread, andrew, between the two-year bond yield and the fed funds rate, let me be clear. two-year bond yield set by the market. the fed funds set by the c

new 13f filings, and -- also small position, looks like hedge fund manager big ackman buyiing nike whenall or right at the -- >> end of second quarter. >> as the nike was funded? we don't know. and dan lowe building a stake in apple. taking the opposite tact that warren buffett was taking. >> true. indeed. >>> coming up, the white house out this morning with the first results of medicare's negotiation on the price of key medications. we'll ask those details after the break and speak with the administrator of medicare and medicaid services. stay tuned "squawk box" will be right back. >>> we have news out from the white house. result of the first medicare drug price negotiation bertha coombs is here with a look how drug price plans will change next year for beneficiaries and insurance companies. >> that's right. big changes coming administration touting $6 billion in savings when those new negotiated prices go into effect, but that's not until 2026 there william some fundamental changes to medicare part d under the i.r.a. that could raise costs in the near term next year out of pocket cos

i mean, bill ackman, i think, actually wrote about this last night on twitter. >> similar. >> actuallyout a long time. >> there's a lot of, i think -- i think i heard biden the other day say, worth 1,000 billion. complaining about billionaires. you know? seems like a good thing, but -- i think that the elephant in the room is that capital gains thing. i mine that -- >> above a million. going to 55.5%. and that's, here's the thing about that. people say only rich people. if you sell a large, like -- a large amount of stock in one year and all of your income, your ordinary income combined with that gain is over $1 million. you're subject to this tax. >> right. >> it's not like -- if you have over $1 million in income in one year you're subject to that tax. >> let me read actually what bill wrote last night. he didable articulate job. fix the problem make borrowing an amount in excess of your basis in a stock taxable. in other words, if you have $10 billion of stock in a company that you founded, with zero basis, loan secured by the stock should be taxable as if you sold a like amount of

. >> it's interesting, discussing in the river, a move on donald trump like bill ackman and all of theseout. have you picked up buyer's remorse? >> you get that sense, if they have a 75% pet, when peter thiel endorsed he was playing the odds better than the polls showed so it's worth making a contrarian bet. it's not like trump, right. democrats, like i said, they're pretty good at winning elections it was so obvious they could double their odds by replacing the candidate that they did the pragmatic thing. and the gop was caught flat-footed. jd vance is defined in a way that's hard to undo. tim walz. and kamala harris and flat-footed and in a tougher race now. >> you're right. they take risks, sometimes, risks don't pan out. we'll see. the new book "on the edge, art of risking everything" nate silver, great to talk to you. >>> coming up, we'll have the latest in the middle east as israel braces for a retaliatory attack against iranian with the military leaders "morning joe" is coming right back. ♪♪ not every decision you make will be as good as getting a volkswagen at the savvy vw summer