kroger jumping better than expected after this morning, updating investor on albertson's deals news.ut a trade that you says has an easily repeatable strategy. >> the strategy we talked about was a buy right or covered right if you already own the stock, which is a situation where you sell upside calls to basically collect some premium along the way. one of the thing wes often discuss is whether or not it's advisable to sell calls with catalysts going into earnings. sold a call prior. now that catalyst has come and gone, and we've gotten other news out of kroger. announced that opioid settlement, which i think is good, it's important to get that potential obstacle out of the way. another obstacle they faced was anti-trust concerns with respect to the merger with albertson's and there they're looking at a significant investment and hopefully getting that across to the finish line. for those reasons i still like the stock, but i also think this is one of those things where i'm not expecting any explosive price action to the upside. this is steady as she goes. a yield play i think you c

we'll talk to him about that and the latest concession in the company's effort to close the albertsons deal as well. >> stocks have been adding to the open. you have almost every sector in the green. industrials the only exception. vix back below 14 as we continue to keep our eyes on energy and yields and the dollar. >> yields giving some relief for stocks, art cashin says. playing along at hoechl, this is the only thing that matters, if you want to know the direction of stocks. if you see the lower yields, they come off the high and he's watching the 4.35 off the ten-year. we're well below that. you see the direct impact on tech. matt maley tells me to watch nvidia. a lot of attention being paid to the big decline in tech overall but the overall market is holding up. let's bring in mike santoli, senior markets commentator. techs are holding up. some are wondering, can that last? >> that's the key question. can you argue if it's a tell or not. apple and nvidia down since the begin of september, 6% to 8% each, together they're more than 10% of the market. take those two out of the decli

the most with the safeway and albertson deal that the ftc blessed not that long ago.he stores to go under very quickly. terrible embarrassment for them. now that kroger which is seeking the buy albertsons has cns wholesale grocers, owner of pigglywiggly, they would seem to be on solid footing. will ftc block it any way? when you see so much government intervention at once, it reminds that the mega caps are still at the mercy of governments around the world. when the regulators decide that they should be punished, there will be punishment. to me it's the cost of doing business for these big companies. when i see these things, this is why it's so hard to make money in the stock market. the government onslaught can be a little much for even the most fierce bulls and everybody gets hurt. but not so much that it's worth panicking people. i say stay the course. these companies will figure it out. the regulators rarely prevail long-term because these companies know their own business much better than the government does, and as is so often the case, they do you a great servi

it's the fallout from a merger agreement between albertsons and kroger. that deal would create the largest supermarket chain in the whole country. but to clear antitrust regulations, the chains are selling a total of more than 400 stores. albertson based in pleasanton, it owns safeway and lucky supermarkets, while kroger owns several brands, including foodmax and food for less. no details yet on exactly which stores will be sold. >> coming up next, see what a difference a multi-million dollar donation will make to a san francisco nonprofit. it's coming from a well known philanthropist. >> and do you remember brian stow? tonight, a look back at the trauma and recovery this giants fan h it's earning 3% at drugstores with chase freedom unlimited. so i can save on something special for a first date? wait! that's all for a first date? whoa. alright, c'mon. earn big with chase freedom unlimited with no annual fee. how do you cashback? ( ♪ ) feel the power of osteo bi-flex®. taken every day, it's clinically shown to improve joint comfort in 7 days, with signific

we see kroger shares up 4% as that company tries to get an antitrust thumbs up to that albertsons deal. that is some of the stock market story. i have to come back to the economy map because we have been watching the jobs story. we got the weekly numbers one week after the u.s. numbers. very strong numbers versus expectations. 40,000 jobs created versus an estimate of 20,000. you are continuing to see wage growth accelerate. that is coming at a time when we saw the bank of canada pause on interest rate hikes this week. some people wondered after a weak second quarter if the bank of canada would be done with rate hikes. the fed is navigating an economy with the inflation story going forward. matt: very interesting economic data. the central bank moves reaction or lack thereof. . there is a pause in rate hikes. fed officials are increasingly optimistic they can contained inflation without causing serious economic pain. let's bring in bloomberg economics and policy reporter michael mckee. what did they call this? immaculate disinflation? michael: it is not completely immaculate. we had un

the way and another obstacle they faced was antitrust concerns with respect to the merger with albertson'snd they're looking at a pretty significant divestment and hopefully that's going to get that across the finish line. for those reasons i still like the stock but i also think that this is one of those things where i'm not expecting any kind of explosive price action to the upside here. this is steady as she goes, a yield play, i think you can look to sell, additional upside calls against the stock that you own. >> would you do that, brian? >> yeah, in fact, i was taking a look at it, you look around the 48 #, $49 strike, the top end of this channel that it's in, go maybe let's call it out towards the end of the year. there's decent premium to be left and after the earnings event is over with, i'm less afraid of getting called away too soon, and seeing the stocks collect premium on that, go a couple months out, look at that $49 strike area as a place to go ahead and buy right, and sell calls. >> what do you think, carter? >> pair of twos, big hand, other things are better, pair of twos,

we'll talk about albertson's. tough business. but we may have real things that happen this fall.o, again, i mean, the bottom line for me is solomon -- i'd like to buy his stock. i don't really care what he does. i don't care if he flies planes. how about if he does eps? like, i judge a guy by eps. he's an eps walking around like a man. i like that. >> are you saying that a buy order is under consideration? >> oh, yes, absolutely. i think you buy goldman here. do i really care that people don't like -- look, i thought it was interesting that david said, five partners just left. immediately, i just said, they got the memo. you're an underperformer. someone was, like, quibbling about back to work. they don't understand the culture at goldman. goldman's culture, for me, was, you want to work saturday or you want to work sunday? you got to pick a weekend day. >> i think that is the complaint among many within the firm, that it's -- that they don't recognize -- externally, they don't recognize what they were goldman being. >> we've addressed lenin once. his thesis was if the rich are u

today but i welcome my partners, the wtco, the members of our executive committee as well as tim albertson and bernard who join us today. it is an important meeting, one where we get to present our strategy, one where you get to ask us your questions directly. so let's begin. we envision for decades to come to be a leading bank, rock solid and sustainable. we have strengths, undeniable and distinct. we need changes undeniably. we take decisions. we have catalysts that will support our course. our zboel is to deliver consistently a sustainable value creation to our shareholders and all our stakeholders and to deliver we must be first rock solid. more capital, less costs. best in class risk management, strong culture. second, simplify. fewer businesses, less costs, less dispersion, less synergies, less dangerous. third, high performance. compete where we can win not where we can exist. and finally, sustainable. deliver consistent earnings with low performance volatility. be a leader in helping our clients and the world solve the radical challenges we are facing as a matter of survival. so wh

they're going through a consolidation now with albertson's.ng to announce earnings tomorrow, and i think we're going to get some nice if upside surprise there. they've got a 10% pullback to a good place to buy right here, and i like their dividending they're throwing off still about a 2 2.555% dividend -- 2.5% dividend while we wait for them to grow some more after their consolidation. a real grocer. stuart: i'll take the dividend and some capital gain withs. throw it in as a dessert, i'll take it. t. the r., thanks very much, indeed. >>> lauren's back looking at the movers, and meta is moving up. lauren: really an outperformer or in tech today. morgan stanley thinks that reels will help meta generate $20 in earnings per share by next year. it drives engagement and ad a dollars. we're also showing you paypal because meta and paypal have linked up to allow donations on the site. stuart: tell me about roku, because i think it's down today. lauren: yeah. luke capital cut hem from buy to the hold. they're worried it's less investment, meaning less

right now kroger, my former company wants to buy albertson's and somehow they come up with $44 billiono make that purchase, and yet they cannot fund my retirement. my retirement is critical. it is critical and it has been for years. it is their way of being able to take another 25% away. as for the tier system, for people in the lower tier , there retirement is nothing, it does not even compared to mine, which is barely enough. i hope they get what they ask for and then some. there might be corruption on both sides, the unions always have your benefits in mind. they are not for the companies but they are there for the workers. i believe biden is to create i believe when trump comes his conn keeps going on he will try to say that he negotiated it after he -- he will try to say he was the one responsible but he does not have any insight as to what's going on, only the people sitting at the table no what they are after. that's all i have to say. >> thank you for sharing. we will go to maurice in michigan. maurice. >> good morning. >> i have been listening to c- span ever since i retired.

priced to sales multiple is more in line with doordash and uber than a grocer like a kroger's or albertsons the top line by 30%. there was a note from bernstein, they said the valuation is reasonable and could even be considered conservative if you think that you're going to have a lower but reasonable longer term growth rate. remember, this company, which is very interesting, is actually profitable, largely thanks to that advertising business, which it has over a doordash and uber. it also has bigger basket sizes which is important when you're comparing companies in the gig economy. >> yeah. the times did a great piece yesterday how it's not about delivery but software and advertising. i keep thinking back long ago, you probably remember when aswat told us about grocery delivery and told us the margins in grocery are so thin he didn't think delivery as a model would work out over the long term. the chart of dash could help argue that. >> yeah. and i think that's right. that's why they've been looking for different revenue, more importantly, different profitability stream. the thing instaca

the stock in question here is albertson's.'m curious to see what it's looking like right now. >> it's up. >> no, that's amazon. but i would assume it's up. listen, jim, this may be a real competitor, and that's going to be the key question. >> backed by softbank. >> and does it give -- right. backed by softbank, financed by softbank, does it give enough credence to their argument that this would not be -- that this would not be anti-competitive? we'll have to wait and see. i still come back to amazon, though, and do wonder, if you're the company, you have to be considering it in some way, at least. you have to understand what that would look like to split the company, what the respective multiples might be, how you would do it, over what period of time. it's got to be something you're thinking about regardless of whether the ftc is coming after you or not. >> well, they have spent a lot of time thinking about the many projects that they've killed. i mean, ayesterday, it was a hundred degrees at home. thank you for telling me w

growth store operators kroger and albertsons are selling some stores in order to merge reuters reports kroger's and albertsons want to offload 400 stores in order to win regulatory approval for their proposed $25 billion merger. cns wholesale grocers with backing from softbank group corp is now in talks to buy the stores for about $2 billion. cns is primarily a supplier and currently operates two dozen stores under the grand union and piggly wiggly brands. a new survey shows a record number of americans will bet on pro football this season. the american gaming association forecasts 73 and one half million americans will bet on the nfl this year. that's up nearly 58% from last year. the reason several states have legalized sports betting in the past few years. 34 states now have sportsbooks. the gaming association reports more than a quarter billion dollars in bets have been placed in the us in the past five years. and this morning, honda is the latest automaker to announce that it will use tesla's charging plug for its evs. that plug is known as the north american, charging standard. a

albertson's has more walmart has 29 million people in walmart plus that makes instacart seem kind ofoesn't it? i thought maybe you could justify these if you value the stock at a modest discount to something like uber or doordash, but these two companies have tremendous growth numbers. if you look at lyft, the worst of the bunch, instacart is worth mid-30s at the most. not a lot of upside. instacart has a good brand name, but it's hard for me to get super excited about it at these levels you can imagine in their 30s wouldn't that be perfect you have my blessing to put them in a small position here but down 10% to 15% is where i would like to buy it "mad money" is back after the break. >>> coming up, an opportunity may be bubbling in oil but not for long don't miss the geyser when we return since the citi custom cash® card automatically adjusts to earn me more cash back in my top eligible category... suddenly, life's feeling a little more automatic... oooooohhh... automatic sashimi! earn cash back that automatically adjusts to how you spend with the citi custom cash® card. ♪ >>> what

$1.4 billion to settle opioid charges, they're trying to get the green light for their merger with albertson'sices are are high, but the margin for the food stores is very narrow. stuart: any mention of shrinkage? lauren: i didn't see that. stuart: okay. big board after, what, four and a half, nearly five minutes of business, 34,500. dow winners, there are some, and at the top of that list we have intel. $38 a share now. apple's on the list. it's up only $1.67. 179 is the apple quote now. microsoft is up a up couple of bucks, and amgen is on the list. s&p 500, first solar, valero energy, gilead sciences, csx. the nasdaq winners topped by gilead sciences, nice gain. csx. meta is on the that list. he's saw -- tesla is up $4. >>> coming up, it is not too late to be on the show today. don't forget to send in your friday feedback. we want ill all. -- it all. e-mail your questions or comments to varneyviewersfox.com. >>> grammy award winning producer emilioest ban has become one of the most successful music producers in the country. is there still such a thing as the american treatment for everyone

i think this recent deal we reported about softbank teaming up with c&s to buy out kroger and albertsonsnt to the direction they may be going for. david: there we go. a glimpse of the new vision. thank you so much. our tech editor out of tokyo. the president of the global chips industry says restrictions on the exchange of the semiconductor technology can hinder national security. he told us rising geopolitical tensions prove how high the stakes are. he is not surprised about china's recent advances. >> has become clear that the semiconductor industry is very strategic. given the geopolitical tensions, it is best to stabilize their own operation. i am not surprised. china has been working on this for years. yvonne: not surprised, but is the evidence the united states needs to do more to tighten restrictions further? >> it is very critical to talk about the united states alone or any of their country because this is not an effort that can be done by one country unilaterally. this needs to be done multilaterally in understanding the risks of the industry. our philosophy is [indiscernible]

kaiser pull nothing third party albertsons and safeway. we will run clinics starting september 27 through november 7. shorter period, left year we had a few late folk in thes game adding interested in providing a clinic at their location. our eligibility remains the same. for employees, retirees and spouses and domestic partners. and in addition to our flu we have done health service. we started bringing those become left year and pair our clinics with the benefit faris as limp 10 total we are off thanksgiving year. and a new site in the past which is the county fair building a new benefit there we will add wrchl can you puz for a moment. can we bring the slides. in sync with your comments. >> thank you. >> this is why i think you are. >> thank you. >> we will offering 24 clinics one les then and there last year each year kwooe we look at where the volume of our vaccines are. and we have required minimums we need to meet. we assess those. we're reducing by 2 and adding back one we did 2 years ago. we will remain at 24 clinics at 23 locatio

vonnie: c&s will get backing from southbank in order to buy groceries stores that kroger and albertsons are selling in order to win regulatory approval for their merger. sources are telling bloomberg that if cms -- c&s will buy these grocery stores. southbank once again has its hand in the action. still ahead, a first default but investors are putting on a restructuring or liquidation. an update on china's property sector prices coming up. this is bloomberg. ♪ vonnie: let's get a at yields, strange session in the u.s., with 40 businesses tapping rate hike markets around the world. there was a drop in this post jobs report. the two-year at 495, regained a lot of ground. the 10 year f4 9528. what is interesting is that many strategists are looking for the curve to steepen again which is what happens before recession. that is the indicator people are looking for, that the inverted yield curve actually this inverts. the bloomberg dollar index looks like it will had lower. our next guest says the latest jobs report is predicting a recession. joining us now is eric lynch. is that right? are w

that may not shop at walmart, but may be on the instacart platform when you think of a kroger's or albertson'svery network because that is costly if instacart can do them for them at the same time we're seeing consolidation in the grocery industry as well going forward, they may have more leverage and this is all about fees instacart is a three-party platform that's going to eat away at margins. i go back to the grocery business which makes them profitable before a doordash and uber. >> their top line growth is not particularly strong, is it >> no. it's not it was flat this year. they saw these huge gains during the pandemic, but what fidji simo says they're not just a pandemic darling they believe that, you know, there's such a small percentage of groceries being shopped for online right now, they can double that and that's still a small portion of the overall percent of the grocery industry. but that is a big question how do you reaccelerate growth that's what i asked her. if advertising is your business but the base and core isn't growing, how do you increase that when some of the competito

. >> we got to remember that the real test here is not -- it's kroger and albertson's, giant companiesfrom kroger, but they have a -- someone who's willing to buy the stores, overlap cns wholesale. david, this is softbank -- i don't know what tech -- softbank is in supermarkets too. you have rodney mcmullen going around telling everybody, this is not an issue, and you have jonathan kanter from justice saying, the deals that we have done where we offload to another company have been failures, and yet, have you been watching what's happening with the stock of rite aid, which was allegedly saved by -- from suitors? i don't know. there's a lot of stuff going on i'm not liking. lot of stuff i don't like. >> yeah. i'm going to dig a little more into that, but you're right. you and i, i think, have both been doubters to a certain extent, based on history, of the ability to have mcmullen to get that done. certainly, the market is viewing quite positively the possibility of this divestiture having enough wherewithal to be a real competitor and being viewed that way by the antitrust authorities.

right now, kroger wants to buy albertsons.illion to make that purchase but they cannot find my retirement. my retirement is critical. it has been three years. it is their way of being able in the future to take another 25% away. as for the tiered system, the people in the lower tier, their retirement is nothing. i am comparing that to mine, which is barely enough. i hope they get what they ask for and then some. there make the correction on both sides, but the unionism is that your benefit in mind. they are not for the companies. therefore the workers and so in spite of. -- and so is biden. rmp -- trump will try to say that he negotiated it, that he was the one responsible, but he does not have any insight into what is going on. nobody does. only the people at the table know what they are after. that is all i have to say. host: maurice in portage, michigan. hello there. maurice on the independent line. caller: good morning. i have been listening to c-span ever since i retired. it is always entertaining but not enlightening. we