the thing is that the lithuanian shauli ai bank, which since august 15 has stopped conducting operationsince september, intends to completely refuse payments in any currency if they are associated with clients from russia or belarus in the organization. this was explained by the expansion of the eu sanctions. although, for example, in brussels they deny it. they even made special statements, they say. the measures taken do not prohibit banks service payments for railway services. the lithuanian authorities must report. this is up to the banks. so the current situation is exclusively lithuanian amateur performance, and in vilnius and among themselves they can figure out who. what decisions should banks make? nod towards the authorities? they kick them back the issue of financial settlements is not within the competence of the government, if the financial authority decided not to maintain commercial relations with any client and not to serve certain operations. this is their right, the government cannot force them to do so. approximately the same message was made by the minister of transpo

the thing is that the lithuanian shauli ai bank, which since august 15 has stopped conducting operationsce september, intends to completely refuse payments in any currency if they are associated with clients from russia or belarus in the organization. this was explained by the expansion of the eu sanctions. although, for example, in brussels they deny it. they even made special statements, they say. the measures taken do not prohibit banks from servicing payments for railway services and the lithuanian authorities must report. this is up to the banks. so the current situation is exclusively on lithuanian amateur performance, and in vilnius and among themselves they cannot figure out who. what decisions should banks make? nod towards the authorities? the issue of financial settlements is not within the competence of the government if the financial authority decides not to maintain commercial relations with any client and not to service certain transactions. it's their right, the government cannot force them to do so. the minister of transport made the same message. in lithuania, they say

think, going to be challenging and the other dynamic there is a lot of the banks are pushing forward the information and great use of ai and machine learning longer term, that will lead to reduction of head counts and lower paid jobs and process driven jobs actually losing out to kcomputers. >> seb thank you for joining us. seb walker. >>> warren buffett is trying to reassure after berkshire had a write down on investment in the second quarter net earnings per share can be misl misleading posted $9.3 billion, but still came in with a loss of $43 billion. joumanna, one stand out from the update from berkshire was they were a net buyer of equities in the quarter. that is interesting because it is not clear who has actually been benefitting from the rally we have seen in stocks recently in terms of positioning. if berkshire is a net buyer, they doid not have money in the game to begin. >> they are sitting on a ton of cash that tipped a little bit in the quarter. still, they are hitting on historically huge amount of fire power. one of the takeaways is there is not that much value to get involved in. i think the biggest ow

bank muscles. paypal being really disciplined about costs and people being excited about possible combinations >> you're right. it's been less about ai judgments and the ability to refine your loaning practices, for example, through technology. you're right about the cost savings, looking at $1.9 billion in cost savings, revenue up ten. truist goes to 108 on pay poll if there's a marriage in the future one day, jon, i would have to say this would be one of the most telegraphed partnerships we've seen. >> obviously, though, it's one of those may-december ones in a way i guess. i get that people are trying to lay off this whole transaction thing for pinterest where you get a little bit of the mix of the search-led intent and a little more of the programmatic. pinterest isn't growing at a particular rate. i'm not convinced. i know people are trying to sketch out that narrative. for more on paypal let's bring in web bush's melissa cotry. i wonder how you see this paypal quarter, and particularly the cost side. paypal has been in the penalty box for a while. now it's getting a nice little pop. >> i would say better than fair results. numb

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aig smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create my grandma never mentioned this, but her first job was working at a five and dime, when she was only 16 years old. it's all right there in the census. see where a few details can lead with the 1950 census on ancestry. ♪ ♪ this is the moment. for a treatment for moderate-to-severe eczema. cibinqo — fda approved. 100% steroid free. not an injection, cibinqo is a once-daily pill for adults who didn't respond to previous treatments. and cibinqo helps provide clearer skin and less itch. cibinqo can lower your ability to fight infections, including tb. before and during treatment, your doctor should check for infections and do blood tests. tell your doctor if you've had hepatitis b or c, have flu-like symptoms, or are prone to infections. do not take with medicines that prevent blood clots.

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiu're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create emily: time now for the crypto report. there is an industry boom happening in security. with criminals targeting software infrastructure, people are finding themselves with more business they can handle. why is business booming? guest: the reason for this is there has been so much money stolen from various crypto projects, so far this year, $2 billion. we are in a situation where money is being stolen left and right, projects feel like they need to do something. emily: you are saying fortune is favoring crypto security firms. guest: absolutely. that is exactly right. companies that are auditing code. factors that can potentially exploit and allow good hackers, called white hat hackers to report bugs that somebody else can exploit. get paid a lot of money. emily: what makes b

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ainow you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> it continues to be -- we are some quarters away from saying we are through the worst of it. we think we will see some furtherance on that portfolio, but we are managing it. in an overall percentage, we are looking very modest. jonathan: the cfl on the situation and china at the moment. future is unchanged on the nasdaq. you know the approach to the data over the last decade or so. 49 was the official managing index. that number is in contraction for the month of july. tom: 10:00 a.m.? we will look for that as well. dr. goodell is here on a ratio. >> that is what i am looking at. we are talking about the contraction. the sentiment has been worsening, which brings me to my chart of the day, despite the idea that this growth proxy is largely driven by chinese demand an

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiyou're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> equity markets are moving to the upside. the malaysian market is up over 1%. they are upset because it has not gone online and over 12 minutes. examining the new charter produced by his allies. they are in bangkok. >> it was the constitution that he exceeded his term. the term was had by the constitution that he oversaw after he staged a coup. really what we have is a bit of a shift in power. not even -- the acting prime minister is a deputy. it is not a huge change at the moment. what remains to be seen is with the court will decide in one months time. if the court decides that canola to be the prime minister, there is questions about what that might trigger. the government could just appoint another prime minister to carry it through to the next election which is due

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> markets should not look for any kind of major move on tariffs. the biden people have been signaling that. anything other than completely lifting tariffs doesn't provide any inflationary impact. markets should look for that either. jonathan: always good to catch up with terry haynes. from new york city, tom keene, lisa abramovitz, i'm jonathan ferro. the nasdaq 100 up .6%. yields higher by three basis points on the 10-year yield. data out later. ism services, pmi for the week, payrolls on friday. a focus on crude in the last hour. up 1.7% at $96 a barrel. opec agreeing on a very small increase in september, just 100,000 barrels a day, there smallest increase ever. this comes after president biden went to the middle east to meet with the crown prince. tom: i would s

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiyou're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create haidi: let's look at the day ahead for australia and new zealand. they say they will implement tax cuts legislated by the previous government despite costing billions in revenue. we will be getting billing approvals for july. the group says your risks falling behind -- europe risks falling behind the u.s. on building the green industry. the company says despite a 40% drop in profit, demand from china remains strong. he told us despite that, they are staying focused on controlling costs. >> for the year we just reported, the average price over the year was about $140 a ton. we realized 72% of that. it was $100 a ton margin for us. we stay focused on the things we can control. we generate strong margins throughout those cycles. we do continue to see strong demand for our pro

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiyou're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> sansone just unveiled the latest generation of foldable phones. the new galaxy full four and the flip comes into meant incremental of grades. a slimmer hinge. samsung kept prices the same despite costs of materials and shipping. prices will go up for sansone's accessory letter. we are going to dig into the story of a nebraska teenager. how private facebook messages are being used in an abortion case against her and her mother and what that means for the future of digital privacy. my inclusive name is metaverse. and more, this is bloomberg. ♪ >> welcome back to bloomberg technology. i am emily chang in san francisco. i want to get back to earnings after hours. ed ludlow is back with us. >> they are down almost 20%. that is right. 20% in after-hours. they cut the full-yea

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aire making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create so... i know you and george were struggling with the possibility of having to move. how's that going? we found a way to make bathing safer with a kohler walk-in bath. a kohler walk-in bath provides a secure, spa-like bathing experience in the comfort of your own home. a kohler walk-in bath has one of the lowest step-ins of any walk-in bath for easy entry and exit. it features textured surfaces, convenient handrails for more stability, and a wide door for easier mobility. kohler® walk-in baths include two hydrotherapies— whirlpool jets and our patented bubblemassage™ to help soothe sore muscles in your feet, legs, and back. a kohler-certified installer will install everything quickly and conveniently in as little as a day. they made us feel completely comfortable in our home. a

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiu're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create ritika: this is bloomberg markets. you are looking live at the blue room. coming up, i :00 p.m. new york time, -- at 12:00 p.m. new york time. this is bloomberg. keeping you up-to-date with news from around the world, former president trump is refusing to answer any questions with a probe having to do with his business dealings. he had a statement saying he would use his fifth amendment rights not to answer questions. inflation decelerated i than expected. that may take some pressure off the fed, with rising interest rates. a drop in gasoline prices shows higher food costs. the city of solon south korea is bracing for more right -- of seoul is bracing for more widespread storms. flooding has killed at least nine the capitol and more than 20 inches of rain has fallen. lawmake

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> some financial markets are indicating they expect us to cut interest rates next year. i don't want to say it's impossible, but it seemed like a very unlikely scenario given what i know about the underlying inflation dynamics. the more likely scenario be continue raising and then sit there. jonathan: the central bank doesn't want to offer forward guidance spending a lot of time yesterday offering forward guidance. futures are positive. good morning to you all. tom keene, jonathan ferro, lisa abramowicz. futures up .1% on the nasdaq. 2.68 on the 10-year yield. tom: weaker sterling this morning. jonathan: down .6% of the back of a 50 basis point hike. tom: i like that, very good. we have earnings but nobody cares. when you do a transaction this important, recovering

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiyou're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create david: welcome back to the show. i think we are on air. are we? yes, we are. here we go. we are watching this continuing across the markets with risk aversion. we start things off with the taiwan dollar. we crossed 30 yesterday and we are holding onto that weakness. dollar-yen is a haven play. let's look at the global macro movers and what has changed in the last 15 minutes or so has been this drawdown we are seeing in the chinese equity markets. we are approaching a 3% drop in the hang seng index. i think we will just send it back to rish. rishaad: we have a look at the supply chain issues that are affecting trade. we get over to atlanta now. the ups executive vice president laura lane joins us now. we saw some of these issues dissipate and now, it is certainly the war in

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aire making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create workers are fighting executives, pushing for part-time returns to the office. the latest example coming from apple. more than 200 apple employees decided to demand the company continue its flexible work policy instead of its planned return to the office on september 5. and requiring employees to come in two to three days a week. they want hybrid schedules with direct reports rather than a corporate blanket policy. this comes at a time when the term quiet quitting is making the rounds on social media. the idea is not the idea that the employees actually quit but they do the bare minimum that the job requires to remain -- maintain healthy worklife balance. >> does not resident with you based on what you are seeing from your client? >> we have heard a lot of companies that all we

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aire making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create lisa: coming up, cofounder and former ceo joins bloomberg at 5:00 p.m. new york time. this is bloomberg. ♪ >> keeping you up today with news from around the world, here's the first word. ukraine's president warns civilians to stay away from military facilities occupied by russian forces following explosions at a russian ammo dump in crimea. an advisor said the blast market beginning of a series of attacks. explosions at a russian airbase destroyed fighter jets. germany will struggle to have enough gatt -- natural gas to get through the winter. that's according to their energy regulator which has germany will have enough for less than three months if russia cuts off supply completely. they are racing to fill the winter stockpile after russia drastically reduced flows of the key

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create want an engaging website to boost your business? you're just a click away from five star fiverr talent. hundreds of freelancer skills like web design. head to fiverr.com today and get something started. >>> cnbc.com reports that the majority of goldman's card loans and resulting issues are from the apple card, which was launched in partnership with the tech giant about three years ago. joining me now is the author of the piece, cnbc's banks reporter fantastic reporting in here. it's amazing two such high-profile companies could stumble out of the block. >> you called the tagline was created by apple, not a that leaves out the servicing is done by a bank that's the cause of some issues they had specifically there's a rising trend in the credit card industry called chargebacks. th

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aire making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> u.s. stocks are going a whole lot of nowhere right now. bloomberg's abigail -- is tracking it for us. abigail: the nasdaq down --. we are looking at the first three week scheme since the last -- since the end of march into april. we have very solid gains. let's see what happens. there is a little bit of a cautionary tale here. you have this big losing stretch into july. the nasdaq 100 is impressively above. he was talking about how this could really be the bottom. in the nasdaq 100, also software and hardware, we are not seeing a break. crude oil now at 88. we were just talking before this segment, what is going on here is not really clear. a two day moving average, you just have tremendous selling pressure. the same is true for -- down 8%. they are planning on inflation in

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiw you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create rishaad: the bloomberg dollar index is pretty much sanguine right now. the yen rally is petering out a little bit. let's look at what is going on, dbs is out with a 7% profit gain. this is southeast asia's biggest bank. 1.3 billion u.s. dollars, that was ahead of everett estimates. they say those gains are largely offset by declines in wealth management and investment banking fees. nomura will be in focus as the country's biggest brokerage came out with a 97% slump in net income in the june quarter. it is trending to the downside right now. it felt shy of estimates. fixed income was a bright spot. profit was hit by legal charges owing to the company's dealings with archegos capital management. and nintendo reporting period than anticipated results, operating profit of 76

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiw you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create pres. biden: since the united states deliver justice to bin laden ayman al-zawahiri has been the leader of al qaeda. now, justice has been delivered and this terrorist is no more. if you are a threat to our people, the united states will find you and take you out. jonathan: in an address to the nation. good morning, alongside tom keene and lisa abramowicz i'm jonathan ferro. the focus on taiwan and the potential visit from nancy pelosi. the focus of this market lower on the s&p and nasdaq 100. the s&p lower by three quarters of 1% on the nasdaq 100 down by 1.4 percentage points. the wall street journal reported that this could happen as soon as this morning, and it's happening this morning. $39 per share in cash, tom. tom: inequities exposure, we use that option. helane

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. through projectup, comcast is committing $1 billion so millions more students can continue to get the tools they need to build a future of unlimited possibilities. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. >>> welcome back time for the big money movers t

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiu're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create shery: the white house is set to dial back rising tensions with china over nancy pelosi's expected visit to taiwan. this is after beijing threatened military action if this happened. national security council spokesperson john kirby said this in no way changes the one china policy. >> the president was asking -- was answering a question from a reporter surrounding the guidance we give speaker pelosi before she travels. we met with her and her staff to make sure she could make the best decisions on her own. that she had all the information and context she needed and the president was referencing that. the speaker gets to does i'd what her travel itinerary looks like. >> i realize you were not confirming the trip but if she does show up, you mentioned the fact that there were

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiu're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >>> welcome back time for the big money movers. three key stocks happening right now. stock one is cisco systems beat forecast and giving a positive outlook for sales the company says after a challenging spring due to covid shutdowns in shanghai and supply chain issues have been easing. chuck robbins will be on at 9:00 a.m. stock two is the mystery chart wolfspeed. howling. this company is formerly known as creed the chipmaker with a smaller loss and beat forecast after strong demand. wolfspeed is giving good guidance the stock up 21% you go, wolfspeed. stock three. this is the big name bed, bath & beyond shares down 12%. surging 50% yesterday. board member ryan cohen filing to sell, possibly, his entire stake in the company repeat he may sell his entire stake cohen is the c

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ainow you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> i have a baseline case going into september that is 50 basis points, where it has been since the last meeting. i have an open mind about whether 75 is going to be necessary. a lot of that will depend on the labor market, inflation, and whether we start to see those things slow enough to say we have the momentum we need. tom: truly our most interesting president of a federal reserve bank, mary daly has an original story and huge shoes to fill of john williams and she is front and center on the social sensitivities of all of this economic mumbo-jumbo. dow futures up 126. i will call it a persistent to lift and it is not off of cpi wednesday or whatever we've got here. it is a nice lift in the markets. lisa: a comes from the reassessments people are going to talk about

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> so much of the supply chain goes through the taiwan stream. when we look at what the precedents are of 1985, 96 and you add in these tensions, we had this impacting the real economy. now the economies are more integrated. tom: joyce chang on china and the pacific rim. also on the state of america's budget as well. she had wonderful reports from jp morgan. we will drive back to what is only one story in america for our international audience, america wakes up shocked and galvanized about a search of president trump's residence in mar-a-lago by the fbi. joe manchin -- joe mathieu gives us a brief. it is a rambling essay comparing mr. muller of times gone with mr. garland. do you presume anything we will see from the attorney general will be through the courts this time and not

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aismarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> we're back, senior markets commentator mike santoli joins us now from the stock exchange with his midday word it is a test, right? that's what you're looking at today. >> i am. you know, in the test of this rally coming from the familiar directions as we know, not just from europe where there is that obviously a scare there both on inflation and

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create in three seconds, janice will win a speedboat. bingo! i'm moving to the lake... gotta sell the house... ooh! that's a lot of work. ooh! don't worry. skip the hassels and sell directly to opendoor. bingo! when life's doors open, we'll handle the house. >>> you get a decent return. stocks will be the much better at xfinity, we're constantly innovating. and we're working 24/7 to connect you to more of what you love. we're bringing you the nation's largest gig speed network. available to more homes than anyone else. and with xfi complete, get 10x faster upload speeds. tech upgrades for your changing wifi needs. and advanced security at home and on the go to block millions of threats. only from us... xfinity. this? this is supersonic wifi from xfinity. it's fast. so gamin

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiing costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >>> welcome back stocks are extending friday's losses all three major averages are lower again today. the nasdaq the underperformer, down .4% we're looking at where we could look at softer labor conditions and why september could be a important month for stock pickers, especially this friday. >> and that is the jobs rorpt. and the important thing is we're entering a seasonally weak period, september. the worst month of the year. take a look at what will matter for september. earnings is the key here they're still up we're expecting 5% or 6% growth this year. but they're half than what they were six, seven, eight weeks ago. the economic data, you mentioned the jobs report on friday and then september 13th, the consumer price index so it is about job as and inflation and but in september we're going to have a lot of sel

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiyou're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create in a recent clinical study, patients using salonpas patch reported reductions in pain severity, using less or a lot less oral pain medicines. and improved quality of life. that's why we recommend salonpas. it's good medicine. this is koli. my foster fail (laughs). when i first started fostering koli i had been giving him kibble. it never looked or felt like real food. but with the farmer's dog you can see the pieces of turkey. it smells like actual food. i saw a difference almost overnight. healthy poops, healthy dog, right? as he's aged, he's still quite energetic and youthful. i really attribute that to diet. you know, he's my buddy. my job is to keep my buddy safe and happy. ♪♪ get started at longlivedogs.com flowers are fighters. that's why the alzheimer's association

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiing smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> tesla shareholders have approved a 34 one stock split at the annual meeting in austin. let's bring in su keenan. they say this is a perfect time, given that the stock is rebounding. >> the stock outperforming the nasdaq 100 and the s&p 500. moving 50% from that low. up after hours, more than 4% gain as investors bracing this 341 split. a lot of people watching on youtube, 34,000 viewers taking in the news. tesla shareholders approving 341 stock split. -- a 3 for 1. that is going to bring it to the $300 range. that is going to make it more attractive to shareholders. tesla first announced the plan back in late march on twitter. this will be the second stock split in two years. they had a five for 1 stock split. >> what were some of the other car lights -- the other highlights? >>

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. david, because they posted record order growth they raised forecast by softer consumer spending and what we have to do is drill down about whether people -- what it matters for people at home, not at home. joining us now in a cnbc

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aidecisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiing smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create shery: a chinese property company has been one of the most profitable of the past decade but now it is all about debt. we have today's big take story. fixed income investors could get really juicy returns from being in this market but given the chaos, who could blame them for not getting near this space. >> we have been following the story day in and day out for nearly two years when we first started seeing the first signs that beijing might be turning and shifting its view of the property sector. from there we have seen the incredibly dramatic and unprecedented decline. it was once not only the most profitable bond trader in hong kong and asia but in the world. to step back for a moment it is important to remember it was once one of the most liquid and traded bonds in the world tha

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aimarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create haidi: chinese banks are expected to cut their benchmark loan rates on monday in hopes of spurring china's slowing economy. let's get more with our chief markets correspondent sofia horta e costa. we know there is plenty liquidy floating around, and not that much take up. >> the problem is on the demand side, not the supply-side. this is just a natural follow-through from the pboc's rate cut monday, what -- but we do know, and the credit data shows that it is not the takeout, the take-up is not slowing because borrowing costs are high, it is because people don't want to borrow because there is some much uncertainty in the economy, that corporate and households don't have that demand for new credit. when we get the rate cut on monday, it is almost a certainty, though most economists are s

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiing smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create we are dealing with here digesting the retail earnings from this morning, walmart and home depot dow is hire by a quarter of a%, s&p 500 down by 11 and the nasdaq down the most home depot and walmart, walmart filling in that gap from the drop all the way to the lows after it warned walmart's at 140.65, up by 6% home depot a solid quarter as well fewer transactions but the average per transaction was higher, up by 3.6% take a check on chinese internet stocks, too. this is something we have been watching de-listing fears always cloud everything the sector. there are a number of reports this morning that tencent is going to divest part of their food delivery service following china regulators trying to crack down on these sort of empire-like companies trying to consolidate data of the

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ainow you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. (announcer) enough with the calorie counting, carb cutting, diet fatigue, and stress. just taking one golo release capsule with three balanced meals a day has been clinically proven to repair metabolism, optimize insulin levels, and balance the hormones that make weight los

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiyou're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> we are committed to getting inflation under control and there is a path to get there. recession is a possibility in the process. nobody ever canceled the business cycle. it doesn't have to be like a 2008 recession. jonathan: the richmond fed president and we are live from new york this morning, futures are just about positive on the s&p 500 after three days of losses. it's pretty clear that fed officials are saying we are happy with the market reaction and we will not back away from tightening. lisa: if you want to fight recession and see gains, sorry. the question i have is what have we priced in? some say small-cap surprised and for recession but what about some of the drivers? what has been priced and and what hasn't and how much will people conserve between the two.

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aismarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. >> the markets are focused on the idea that the economy is softer and the fed is not quite done yet. >> we have seen stocks bounce back and some of the most speculative areas of the market bounce back and that is going against one of the things the fed is trying to accomplish. >> i don't see how the fed will be able to bring inflation down to 2%. >> the fed never stops hiking rates when the real fed funds rate is negative. >> this is bloomberg surveillance with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning. kai

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aicisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> inflation is extremely high, so there is unimaginable -- a level we are at unimaginable 18 months ago. we have to get that under control. that is our top priority. jonathan: that is the atlanta fed president speaking this past friday. good morning, live on tv and radio with lisa abramowicz and tom keene. futures are lower. we have a little bit of an equity market sell off, down by a little more than 1% on the nasdaq 100. let's round this up for you. yield on a 10 year 3.1%. the euro is showing strength, slightly up on the currency pair. a 75 basis point rate hike is on the table. the process of qt being discussed as well. payrolls, as well, 300k is the estimate still, a little bit up from last week. tom: how do you have a recession with 300,000 units? i do not get it. jonathan: it is difficult

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiw you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> we are seeing a stronger labor market where jobs are moving and americans are working. and we are seeing some signs inflation maybe beginning to moderate. that is what happens when you build economies from the bottom up and middle out. tom: august is unusual for the politics and policy of the american nation. it has been an extraordinary we can policy -- politics centered around former president trump. we will talk with chuck fitzpatrick about what is going on. my house stopped as a child for. mason. everything was all did 30 minutes. it was incredible how he always solved the case. they didn't respect to -- there was a prosecutor. it was a -- how are they doing when the president of the united states pleads the fifth? >> it is hard to do because when he pleads the fi

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiu're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> when we are seeing inflation unambiguously after this number accelerating after this number, after the eci, after the atlanta fed, we have by every reasonable measure a core inflation, inflation running somewhere plus or minus 5% -- plus or -5%. tom: larry summers there, former treasury secretary of the united states. a modest acquittance of economics. talking about the glide path and what do we do, pick your number, 5% or 6%, etc. jonathan ferro is off today. i guess until the end of the week. i thought it was a one-day thing. kailey leinz is with us. and now we will recalibrate into the wednesday inflation report with dana peterson, chief economist at the conference board with all the ability of the conference board to look at a different set of data out there. and i wa

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aire making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> i think inflation is foretold in the united states and the strong dollar and lower commodity prices will continue to go down. in europe and the u.k., commodity prices have not fall on same way. i think you've got stagflation every forces where the u.s. has probably passed the worst of that. jonathan: he said if you are not expecting recession in europe, you are not paying attention stop futures this morning are down a little bit more than 1% on the s&p 500. mohammed a larry and writes in. hopefully your talk about soccer does not crowd out the success of the mats. lisa: they're comparing the mets to the 1986 champions. a lot of people are. tom: they were good in 1986? lisa: are you serious? tom: it was too long ago. joining us now, peter tribuwicz. professor, thank you so m

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aire making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create jonathan: live from new york, good morning to you. futures positive 1/10 of one person on the s&p. yields higher by three basis points, 3.0. call it 3.05%. if you look at foreign exchange, the dollar stronger against the euro. tom: there is a way to this. -- weight to this. jonathan: we saw that yesterday. i think by the end of the day, we had a move that was almost four percentage points. tom:tom: for those keeping score at home, i would also focus on dollar-yen for what it has done, which is that it hasn't moved. exceptionally strong conversations today on goldman sachs. we continue now with stephen. stephen were should a -- stephen causing a massive macro view including gdp in america. steve, when you talk to dominique, are we in recession? steve: i would not classify it a

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiaking smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create pst. girl. you can do better. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill over t-mobile, at&t, and verizon. wow. i can do better! yes you can! i can do better, too! now you really can do better! switch to the fastest mobile service - xfinity mobile. now with the best price on two lines of unlimited. just $30 a line. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. >> this is the time in the economy with both si

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aiyou're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> although we still have about 4 million people out of the pre-pandemic workforce, we continue to see strong employment gains and lower unemployment rates. the kind of labor market that has pulled in more workers historically. jonathan: michelle bowman, federal reserve governor. we'll hear more of that next week. i'm jonathan ferro with kailey leinz, bramo's out . yields are lower, about a basis point. news out of germany that is noticeable. kailey: yeah, the chancellor is speaking to energy -- speaking in berlin about energy, germany will be cutting the value-added tax on gas to 7%. they say it will last until the end of march 2024. governments in europe doing what they can to lessen the burden on consumers and energy prices are ushered on michael. jonathan: jumps out to

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ais faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create - common percy! - yeah let's go! on a trip. book with priceline. you save more, so you can “woooo” more. - wooo. - wooo. wooooo!!!!! woohooooo!!!! w-o-o-o-o-o... yeah, feel the savings. priceline. every trip is a big deal. in two seconds, a vacationer will say... yeah, i'm going to live here. only to realize... what if i can't sell my place? ♪♪ don't worry. sell it directly to opendoor and we'll help you buy your next one. aah. when life's doors open, we'll handle the house. >>> let's get down to the new york stock exchange where jim york stock exchange where jim cramer is sanditanding by. the thing that's different about a vrbo vacation home. you always have the whole place to yourself. just you and your people. ♪ ♪ this thing, it's making me get an ice bath again. what do you mean? these straps are m

behind him after all now with a banking scam at a time when he was the minister of finance, well, as he says, well, karapsha, well, criminalize yes, that is, it remembers all aiherefore very correct. here , unfortunately, the excal of the austrian foreign ministry karin knastia is already talking about all these politicians. from my time as a minister, i do have photographs with various colleagues from the european union , however. i deliberately took them with me and pictures of the meeting with the minister of foreign affairs sergey lavrov and with vladimir putin with whom i had 3-4 times to conduct outside negotiations for me more interesting memories because i had the impression that i was in a society adults to the west. from vienna often male counterparts from the eu and they are called fats are constantly agitated constantly in a position of moral superiority. if you want to talk to adults , then you have to go to moscow or new delhi for hard times. that is, in france they were distracted by the study. you are i would say partly from the word my life, because it's amusing. that's why i often say that the russian format has really given me a great sense

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of aismarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >>> a little later on today we'll get a brand fnew read on the state of the crypto market kate rooney joins us with a preview of results from coinbase good early morning, kate >> good morning. wall street is expecting a tough second quarter for coinbase. some of that is already baked in but the question going forward is how bad is this going to be crypto prices crashed in the second quarter j and p estimates volumes were down more than 30% coinbase cutting spending did a big hiring freeze. so our user growth and trading activity also portends lower trading fee revenue, which is still where coinbase gets the majority of its bottom line. investors will be closely looking at something called the mix or the makeup of retail versus the institutional part of the business retail brings in the

bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now, there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating, and losing weight. go to golo.com and see how golo can change your life. that's g-o-l-o.com. jonathan: we keep squeezing out a day of games on the s&p 500. we have had three. this morning, we are starting like yesterday in the day before, negative on the s&p 500, negative on the nasdaq, .8 on the brendan: -- on the s&p 500. close to 17.5% off the lows on the s&p 500, and june those and