guest: a lot more of amex doing what amex does.y are known for their platinum card and the big focus on millennials and gen z. we are still seeing a lot more that focused. matt: thank you for joining us. we were talking about the reason amex is down even though it beat on the bottom one. i also want to mention a rising stock, disney is up after a cnbc report that espn has held early talks with the nfl and the nba to become already investors in the network. it's very interesting and i would love to see how they want to structure this. cnbc is reporting this, they cite unidentified people familiar with the matter and they say there are early talks in early stages. nothing has been decided yet, but the disney ceo is involved, bob iger as well as the head of espn and they are holding talks with at least those two leagues about becoming early -- minority investors in the network. that would be a very interesting workout. amber: especially because bob iger has said parts of the tv business or non-core. everyone is that obviously except e

i think names like amex feeling not that confident in terms of raising guidance maybe top line software see. six months ago, the market and dow just about flat. >> settling out. mean we'll get ten maybe we won't have great weekend see all on the other side. morgan is on send it over to them in "overtime." [ closing bell ] >>> what is the score card on the dow? hard to say. stay late to find out. welcome to "closing bell: overtime." jon fortt with morgan brennan. dow closing higher tenth straight day maybe, maybe hit it by its fingernails, tom cruise style "mission impossible" longest streak since august 2017 blue chip index rallies about 2% this week. s&p was higher by nearly 1%. nasdaq down less than 1% if you thought. >> that this week wabi

. >>> we have piper sandler cutting amex to sell shares are down more than 5%1.we'll get to that call when "squawk on the street" returns >>> it's been a big weekend at the box office with barbenheimer bringing in over $200 million. imax, which is screening "oppenheimer" notching its biggest weekend since 2023 bringing in $35 million for the company, which is imax's biggest share ever of a film's opening weekend box office with 20% of total receipts joining us for an exclusive interview is imax ceo rich gelfond. w why was this unique for imax >> historically imax is an ancillary part of the box office if it's a hollywood film, you get drift off the marketing. but this chris nolan filming with imax, he made imax the centerpiece of his marketing campaign we led the way globally. as you said, it was 20% worldwide but 26% on 1% of the screens in the u.s it was 20% on 0.7% of screens globally we really led the box office as a matter of fact, i think there's a paradigm shift going on right now if you look at our indexing for hollywood movies over the last year, we've b

it is something we call amex offers. by the unique and rich data we have by being the issuer of the cars -- cards at having those relationships. caroline: why do this now, when we are thinking about an economy that is tougher and we are thinking about people spending in a different matter, why make this commitment to be more overseas? raymond: two things. our card members wanted to use their card in more places. we started on this journey in the u.s. to reach parity. in the u.s., 99% of that merchants that accept credit cards now accept american express. and we wanted to make sure we were in the places where our cardmembers live, work and travel. we focus the teams on international cities and we have made material progress. they expect -- accept american express since 2018 and we continue to have upside above that. now is a great time to do it. mac expresses been around for 173 years. we've been through all types of cycles. we are operating in a cyclical environment. but economies -- good economies and bad, we know to gi

record of american grades, chris everett decided in the bottom of your screen, that'd be it's an easy amex center in straight sets in the semi final it was a repeat of last is cool to final west and how to push junk of it's hard, but this was felt more straightforward jumping. it is not one victory away from roger federer is recommended. a wimbledon titles a month. it costs 24 grand slam with a 36 duck of age b to minus 15 years his junior. and he had a clear message for any opponents hoping for his retirement. i tried not to look at the age as a, as a hindrance or a flock there that might, besides the outcome of the court being contrary actually i, i feel yes, 36 isn't you 26. i guess. you know it feels good. talk of age. we'll face another young story and sundays. fine old twins zeroed carlos outcries. the this one you finish still reading rally contains a 3 set. big 3 over, down know met with that of russia. the world number one is going for just a 2nd major types of off the winning the us open last year. but he said he's ready for both have a chunk of which has to throw in dream. you k

that ralph of the palestinian a far etsy, which is accused washington of having a quote policy of amex ation on the part side. the claims that construction will happen online, taken from them by force in the united states, through its illegal decision to recognize jerusalem as a capital of an occupying power. and to build an embassy on private property and endowments lands, which was seized in 1948 from palestinian owners, among whose heirs are residents of jerusalem. and american citizens violates international law and supports policies of annexation and apartheid. instead of policies that serve adjust and last and peace a back in 2017. the venue as president, donald trump and ones plans to relocate the embassy from tel aviv teachers and laughter officially recognizing it those, these really capital. the new sparked anger right across the r. busy world thank names, that's both of washington. i'm the israel had violated international law now and you embassy set to be built on the palestinians name was stolen from their ancestors while the status of jerusalem has long been at the subjec

here to talk about the state of the economy and the market, brian jacobson, chief economist with amex wealth management. first, will you share your gut reaction when this data came in this morning >> yeah, it was a little shock and awe, almost disbelief. some of the other data like the initial unemployment claim, jolts data, those were more in line with expectation. it was really the adp one that stuck out like a sore thumb. >> i understand that you're really looking skeptically at consumer spending, and especially the travel and leisure sector when it comes to the contribution to the overall economy. >> that's correct. so the adp numbers, if you look at some of the details, the biggest contributor was leisure and hospitality. there's only so much heavy lifting the lease sh you are and hospitality business can do to keep the broader economy from seeing negative growth look at the alligator jaws shape between the ism services and the ism manufacturing. just historically how this is typically resolved is that manufacturing finds a bottom, but services also find the top and then you get

. >>> and amex shares falling in the premarket.e're going to go through the numbers. >>> let's start with the markets, of course, after what was a selloff yesterday at least in technology, although, again, you did have other indexes a bit higher nice to be able to turn to mike santoli at this time in the morning and just sort of give us a sense as to what you're watching, what you're thinking about as this week ends. and i wonder, given we're only a little bit through earnings season, but we're getting there, i guess. >> absolutely. >> are multiples higher because earnings really have not been? >> multiples definitely have run higher the whole, really, market recovery this year has mostly been about rebuilding the valuations because earnings, even though they've stabilized in terms of forecast and results, they haven't started to grow again but i think that yesterday was interesting as an excuse for people to skim a bit off the biggest nasdaq stocks with the netflix and tesla, you know, kind of mixed results and so therefore, i do

. >> it bottom fed a little bit on this product but look, apple it will be really if amex picks up thisll be a formidable organization. charles: goldman says as they bail out out the banks we tried to be a consumer bank, we tried. we tried. thanks a lot. earnings season, coming up and you know what that means. danielle shay is here. be ready to make money in the second quarter. do you snow that there are more nba players making more thank $30 million a year than s&p 500 companies? no outrage from the left. jim bianco, what it means for the rest of us. ♪. thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪ there's no going back. this isn't just freight. these aren't just shipments. they're promises. promise

don't even seem to be aware that there's nicotine inside the language, which is really addictive. amex, but it's warm. there's an even greater danger removing the potential provides to be used for a legal substances. the . these are indonesian police in plain clothes, but just the rest of the suspect i knew was scolding him into this house in which to call. so the, the floor is scattered with various materials, equipment, and hundreds of bite liquid bottles. he found many but on will be looked between put, i'm gonna be your apples, my for them with all these on just your regular vice liquids. they contain a legal drugs my. com, my god, how about the town of logic? yeah. and then conversation am i give you the community for the city and we'll just metal that. i'm not going to be in an issue. i need to do this for you. indonesia, i've seen the emergence of a cottage industry making the call take light liquids. and it's one with a wide network near the end of the last to allow the do. but i'm going to be able to be, i mean, how small of value for my son when you remember my so you don't h

don't even seem to be aware that there's a nicotine inside the language which is really addictive. amex, but it's room. there's an even greater danger removing the potential for vibes to be used for legal substances. the . these are indonesian police in plain clothes to adjust the rest of the suspect under a scolding human to this house in which to com. so the, the floors scattered with various materials, equipment and hundreds of bite liquid bottles. if i'm, when you buy them will be like between put them would be good apples. put them with all these on just your regular volume liquids. they contain illegal drugs. um like of our office out on the logic. yeah. and then conversation am i call you and let them know so we can do the for the city and we'll just metal that. i'm not going to be in an issue. i need to do this for you. indonesia, i've seen the emergence of a cottage industry making the call take flight liquids. and it's one with a wide network engineering and the last to allow sound, the sound that i'm able to be got me how to smooth out the heat in for my son. when you remembe

tomorrow amex, 10 years to the day since we came leaks with a blow. chelsea manning was found guilty and later jailed for revealing to the world us war crimes and the van biggest u. s. military information leak in history. we have a different kind of revealing of tubes on today's show, the form of pentagons, chuck spin, a famous for what was coined the spinning report, which criticized us defense spending. and the pursuit of complex weapons was a u. s. military strategist, of 20 years. y'all gives his ground breaking eighty's report along with subsequent reports. he's written over the years or more relevant today than ever this while the united states, the country with the highest military budget in the world, arguably spins out of control when it comes to defense. pouring weapons into ukraine is part of the nature of proxy. what with russia, he joins me for today's episode from arlington in virginia. chuck, thank so much for coming on, you know, just last week's going on the ground. we had larry larry wilkerson, the former chief of staff to the secretary of state, and he said, peopl

will stop, you know, going little petals he had there and uh, increasingly so uh give you a sandy amex just moved formation which bears on the back that as somebody exposed like what goes by gregory says the collapse is, is, is close. oh is it see minutes so uh i will text you back to the albany suggestion of your uh, remote dash uh, buried on jeff gays uh side vision that yes big. ready he has a lot of, uh, uh banners, but defeat as a is an offer. and it might just be what we are with this very interesting to talk to you today. thank you for your time or no delay political consultant on human rights advocate. thank you. know after years of an ongoing blockade of repeated shelling of the area daily life for many and gals, that is often a struggle even more so when the local electricity supplier struggles to keep the lights on. that is particularly the case for local firm supp rely on a constant supply of power to maintain their livelihoods. ortiz marie, if an option has been to invest these fish farm along with 2 others in the gas, has 3 producers together around $300.00 tons of fish,

tomorrow amex, 10 years to the day since wiki leaks with a blow. chelsea manning was found guilty. eliza jailed for revealing to the world u. s. war crimes, in the event biggest u. s. military information leak in history, we have a different kind of revealing of tubes on today's show, the form of pentagons chuck's been a famous for what was coined the spinney report, which criticized us defense spending in the pursuit of complex weapons was a u. s. military strategist of 20 years, y'all use his ground breaking eighty's report along with subsequent reports. he's written over the years are more relevant today than ever this. while the united states, the country with the highest military budget in the world, arguably spins out of control when it comes to defense. pouring weapons into ukraine is part of the nature of proxy. what with russia? he joins me for today's episode from arlington, and virginia. chuck, thanks so much for coming on, you know, just last week's going on the ground. we had larry larry wilkerson, the full, the cheapest job to the secretary of state. and he said people are

tomorrow amex, 10 years to the day since wiki leaks with a blow. chelsea manning was found guilty and laid a jailed for revealing to the world u. s. war crimes. in the van biggest u. s. military information leak in history. we have a different kind of revealing of tubes on today's show, the former pentagons, chuck spin, a famous for what was coined the spinney report, which criticized us defense spending and the pursuit of complex weapons. with a u. s. military strategist, of 20 years. y'all gives his ground breaking eighty's report along with subsequent reports. he's written over the years or more relevant today than ever this while the united states, the country with the highest military budget in the world, arguably spins out of control when it comes to defense. pouring weapons into ukraine is part of the nature of proxy. what with russia, he joins me for today's episode from arlington in virginia. chuck, thank so much for coming on, you know, just last week's going on the ground. we had larry larry wilkerson, the former, cheapest job to the secretary of state, and he said, people

year the united nations of the quote for an advisory opinion on israel's occupations fest with an an amex ation in order to understand the effect decades of law that says head on palestinians. but you and also also quote, to consider the impact of his very policies on the demographics and status of occupied east jerusalem based in the, hey, the i, c, g is the top you in court date and with disputes between states. it's rulings are binding, but the port has the pallet to enforce them. palestine is asking the international court of justice for an advisory opinion on the illegal consequences. also use radio to patients. that's not the 1st time 20 years ago. it offer an opinion on the construction of this is rate is separation was one of the consequences, the policy in the ground. so this, this is i'll say i was shot into 2021 is told before i got one that i went to college. i played soccer cool. i used to go out with my friends. i had a life after the injury. i no longer go to college and i don't play soccer or see my friends anymore. i'm home all the time. i used to have a life. now it's gr

tomorrow amex, 10 years to the day since vicki leaks with a blow, chelsea manning was found guilty and laid a jailed for revealing to the world u. s. war crimes. in the van biggest u. s. military information leak in history. we have a different kind of revealing of tubes on today's show, the former pentagons, chuck spin, a famous for what was coined the spinning you report, which criticized us defense spending. and the pursuit of complex weapons was a u. s. military strategist, of 20 years. y'all gives his ground breaking eighty's report along with subsequent reports. he's written over the years or more relevant today than ever this while the united states, the country with the highest ministry budget in the world, arguably spins out of control when it comes to defense. pouring weapons into ukraine is part of the nature of proxy. what with russia, he joins me for today's episode from arlington in virginia. chuck, thank so much for coming on, you know, just last week's going on the go and we had larry larry wilkerson, the, for the cheapest job to the secretary of state. and he said peop

tomorrow amex, 10 years to the day since wiki leaks with a blow. chelsea manning was found guilty and later jailed for revealing to the world u. s. war crimes and event biggest u. s. military information leak in history. we have a different kind of revealing of truth zone. today's show the form of pentagons. chuck spin a famous for what was coined the spinney report, which criticized us defense spending in the pursuit of complex weapons, was a u. s. military strategist, of 20 years. y'all gives his ground breaking eighty's report along with subsequent reports. he's written over the years or more relevant today than ever this while the united states, the country with the highest military budget in the world, arguably spins out of control when it comes to defense. pouring weapons into ukraine is part of the nature of proxy. what with russia, he joins me for today's episode from arlington in virginia. chuck, thanks so much for coming on. you know, just last week's going on the ground. we had larry larry wilkerson, the former chief of staff to the secretary of state, and he said, people a

the rough of the palestinian authority, which has accused washington of having a quote policy of amex ation on the part side. it claims construction will happen on lum, taken from them by force to united states through its illegal decision to recognize jerusalem as a capital of an occupying power. and to build an embassy on private property and endowments lands, which was seized in 1948 from palestinian owners, among whose heirs are residents of jerusalem. and american citizens violates international law and supports policies of annexation and apartheid. instead of policies that serve adjust and last and peace. well back in 2017 the then us president donald trump and nonce plans to relocate the embassy from tel aviv to jerusalem after officially recognizing it as the issue where the capital. the news sparked under, across the art of world claims that both washington on israel had violated international. the new embassy set to be built on alarm. the palestinians name was stolen from their i'm sisters, with the status of jerusalem has long been the subject of dispute. israel's control t

tomorrow amex, 10 years to the day since wiki leaks with a blow. chelsea manning was found guilty and laid a jailed for revealing to the world u. s. war crimes. in the van biggest u. s military information leak in history. we have a different kind of revealing of tubes on today's show, the former pentagons, chuck spin, a famous for what was coined the spinny report, which criticized us defense spending and the pursuit of complex weapons with a u. s. military strategist to.

the roches amex ation of crimea. last year. adults quote convicted him of murder in connection with the 2014 downing over malaysia airlines passenger jet. which kill 298 people. the north korea has 5 several cruise missiles into the sea, off it's west coast. on wednesday, joan young, 5 tube of lipstick miss solves off its eastern coast. they landed and was just outside japan's exclusive economic zone. protest as have gathered near the danish embassy in the rocks capital, i'm good bye. as another incident of carumba and this time in copenhagen. earlier this week, hundreds of a rocky storm. the swedish embassy in baghdad. set it on file last month from us and how the book was burned during a demonstration in stockholm triggering protests and countries across the middle east mall as strikes and savannah's capital call to him. on friday, at least 7 civilians have been killed. a con volley of the a group doctors without borders was attacked, leading to speculation they may pull out of so that have a morgan is following de

the defense system is shut down for you. training this on sunday missiles were intercepted over the amex crime in peninsula and the real stuff and brand screeches involved in the city of the 9 and east and ukraine stone, yet screeching its been heavy russian bombardment since vague was that to witness the off them off the lights of strikes, so the strikes on here in the months seems to be spread across a 100 meters a. so now one of the places that was hit was outside the food stamps now were told that people would gather that side. that was sitting down having the food, when those rockets hits and that is still the stands on the flu shot to gloss funds of track row in the will. but also a piece of clothing that seems to belong to an infant that has blood stains on it. now further down the street, right that you meet you, the soul from the food stand. it looks like those that were passing by will court. and this attack, that is still the lift stains on the floor here, also an attractive gloss. now we have been speaking to local people and they obviously still very shaken up and scared. fo

premiere of the french wheeled tanks, because he speaks in all, he speaks the parameters, he says, amex, he says, practically the same striker. only he has a bigger gun than strike so uh looking at what's going on. they realized that throwing them, on the contrary. this means just throwing them to the slaughter, so it never holds. well here. there is such an interesting situation that, in a lavryad about the war, but i already see, that's what. here are my sociological observations, just about the fact that more such conspiracy theories have begun to be dumped into society. i even began to look at the poll to see if they believe in otherworldly forces. there the world government, not only carries out the vciom, but also in the west they carry out these affairs. i think this is it you know such a fog, before the uncertainty in the war. before this summit, i see that it will be nato. i think that european society is already warming up about the possibility that there may be other options, but in any case, i see it from the press, i see it from analytics. and what colleagues are talking ab

they have the sky miles amex program vallued at $30 billion the two businesses are about the market capelta. with that, we are getting the airline for about free. >> interesting just in general, what is the next inflection report for airlines we are halfway through the travel season. when is the next indication the traffic and pricing is going >> booking curbs are sort in covid. we have september and october, but q3 is weaker with leisure falling off. corporate is stagnating at 80% recovered mark we really won't get any data until q3 or until september to see how 2024 is shaping up consensus is a deceleration of pricing in the second half the set up is there and the valuation is low and they are running well and i have to caveat that with delta. >> something to washtch. delta up sheila, great to see you catch the interview with the delta ceo ed bastian >>> coming up on "worldwide exchange," the morning call sheet and one fintech player taking a hit on a ti cl.rangal we have more coming up in just a bit. >>> welcome back to "worldwide exchange." time for the morning call sheet. this is t

amex will report earnings for the second quarter, and the expectation is to make a return to earningswth after two consecutive quarters of decline. any data we can glean about the american consumer will be interesting. this is all they want to talk about today, the two big releases, "barbie" and "oppenheimer." it gets the u.k. release. i want to talk about the movie, however there is a company angle to this, cinemas are hoping or a boost to revenues. i will stand by it, if you see a double booking, you have to see "oppenheimer" first. back to the actual bloomberg stories, could there be a potential settlement between the ftc and microsoft activision? we will discuss the status of one of the biggest gaming deals, next. this is bloomberg. ♪ dani: it is friday, time for our weekly deal segment, and we will start with the biggest tech tabor of the moment. -- biggest tech takeover of the moment. a $69 billion acquisition of the game developer activision, that opens the door for potential settlement talks. let's bring in our deals reporter. some are considering this a win for microsoft acti

amex business.ted your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com >>> the past couple of months, the industrials have come roaring back. no wall street realizes we may not be headed for a recession. take cnh industrial. on friday they pulled back a quick 6% but we are going to dig into that. cnh beat the headline sales and earnings estimates. there were some issues we had to find more about. management did not raise their four year forecast. even as they said that we will see more of the benefit from currency fluctuations. that's just organic numbers. stocks pulled back to four dollars and change. let's check in with someone who is an old friend of the show, welcome back to money. >> it's great to be on. the last time i was on was when we inquired -- acquired raven. we just spent a half $1 billion

dynamics of the planet by putting fossil fuels and co2 in the atmosphere, we are changing the nine amex -- dynamics in ways that we can't tell. it's a little bit frightening. it's very frightening. could it get to 125 degrees in texas? no one knows. geoff: what do people fail to grasp about the threats posed by excessive heat? >> two things people don't grasp, it can kill you and it will kill you. it is predatory. it goes after people that are vulnerable. he puts a lot of strain on your heart. if you have a heart problem, if you're taking certain types of medication, you are increasingly vulnerable to heat. the air thing people don't get is it's the primary driver of these changes we are seeing. the wildfires, sea level rise, drought, that is happening because it's getting hotter and hotter. heat is the fundamental force that is shaping our world in ways we don't understand. what we can do about it, we need to cut fossil fuel emissions quickly. our planet is warming up. we need to get smart about the risk of heat. whether if it's reading my book or somebody else's book, understanding th

because the quality of our portfolio and the level of provisions we have allows us to have a lot better amex than we've ever had then we're quite confident going into the future if we have, as we will, have an increasing cost of risk, we will be able to keep it down through the overlays that we have but if you look at all the lines, revenue, nai, fees, cost, cost of risk, profitability, they're all going in the right direction. and the other thing i'm very proud about is the team has delivered in every single business there is no business that is lagging. all the businesses are unlocking and progressing. >> that was the ceo andrea orcel there saying all aspects of the business, whether it's revenue or costs, all of them are going in the right direction, which has given them ample confidence to not only raise their guidance, but also their distribution target and this is a key for the investment community. the stock is up almost 70% year to date, and part of that is because of the huge returns. unicredit have a policy of paying out 100% of their profits. now they're guiding to a payout of mor

discover and amex are seeing bad credit card debt. not a problem where these numbers are alarming. still laying down from the idea. it was rate hikes, like i expect one tomorrow, could ratchet things up and make me more concerned. i think the issues are not as dire as the issue is causally tell you they are. i'm not can it tell you there is anything particularly worried -- worrisome on the credit front. even if some of the stocks did indeed get hit last week. parts -- false alarm. we must be vigilant with the fed tightens aggressively as this one. let us take calls. why don't we start with vincent in nevada. >> jim, good afternoon. this is been sent from las vegas. i am developing a portfolio for my granddaughter. i wanted to include black mark as one of the stock. what is your opinion? >> i don't think you could do better than black rock. a good yield and a great balance sheet. it has great technology. i think it is a terrific core holding and you're doing it right. let us go to stanley in florida. >> thanks for taking my call. i hope everything is well with you. i want to talk ab

to have experiences they want to have the amices card traveling over seas something happens, call amex it's incredible. seeing resilience in expenditure fop your point about the fed, because wages are still going up wages keep going up embedded inflation our system tough for the fed to fight to get to 2% how can you still have wages going up, price increases on input prices things like that. that's a tough thing for the fed to do and which is basically why you see the state we're in. >> key earnings out next week. apple, caterpillar, amazon and others obviously apple is a bellwether stock. it's up in that category of the chevrons and exxons. got have it in a divert phied portfolio. >> apple interesting look, sat here ten days ago and i told you google and meta will exceed expectations most people would say, well, we're not sure. a lot of headwinds with those two companies i think apple high bar now people are looking to see how is apple going to keep growing? great capital, but what's 159 going to do, service revenue going to do? the 15 how do they keep growing they are a really good g

amex business. >>> european markets set to close momentarily.n the eurozone falls to 5.3% today. food and beverage stocks lagging behind investors looking ahead to thursday and the bank of england's decision where they are expected to hike rates for the 14th consecutive time. >>> the story abroad takes place further east with more weak economic data out of china manufacturing pmi contracting for a fourth straight month in july while construction and services activity disappointed all of this pointing to more stimulus coming or at laci needed with the chinese economy's 5% growth target at risk for a second year in a row. people were hoping for the stimulus for a long time it's coming in bits and pieces but not like this huge full-throated package we got from beijing in the past. >> not like the old days when you can -- almost the authorities could just say it and it happened and you spilled a lot of capital into the markets. although, the stock market in china has been trying to respond as if it's going to be somewhat more effective i was looking

spending, very healthy 10%, and international spending, also very healthy, 17% and the credit metrics at amex continue to be strong. the headline number was the myth on volumes and revenue >> how much can we glean about the overall health of the american economy and the u.s. consumer with american express i ask this not because i'm knocking american express. more so because american express has a very different customer than many other banks and credit card issuers have. they're higher end and maybe not indicative of a broader economy. how much of that can we take into account, given the story that we have, the macro narrative in the u.s. that we have >> yeah, you're right. of course, they skew very affluent and anything coming out of the pandemic have been gapping further away from their peers in terms of this skew towards the more affluent consumer so they disproportionately reflect spending in the economy, and they are only about 15% market share of all u.s. card volumes, and it skews very affluent probably the results are probably the credit metrics, which are really strong, are an early

. >> our amex marquardt had an exclusive report on sea drones, ukrainian-made sea drones packed withtrategically is this the -- i guess a pivotal front? >> yes, i think it is. i think one of the key things to keep in mind, amara, about this is that the key element for ukraine is to keep the black sea waters open for export, especially the grain exports, and we have had a lot of talk about the grain deal falling through, the grain deal between russia, ukraine and turkey to allow ukrainian grain exports. what the ukrainians are doing is putting the russians on notice that the black sea is not their lake even though they have a vast naval flotilla there, basically an armada. that naval flotilla is not immune from drone attacks and they can do harassing work on the russian navy. >> and let's look to belarus now. as we know, that is where the wagner mercenaries are currently. poland's prime minister is saying that more than 100 wagner group mercenaries in belarus have moved closer to the border with poland. what do you make of this reported movement, and do you share the polish prime mini

travel experts recommend paying more frequently with a general travel card like the amex platinum oribility and points you earn with those cards could go towards booking reward travel with several airlines instead of just one. but, of course, be careful not to take on too many credit cards. financial experts warn no rewards are worth it if you carry a balance especially with credit card rates at 20%. >> whit: important information. alexis, thank you so much. we appreciate it. >>> now a check of the weather with somara theodore. good morning. >> somara: good morning. much of the country try tock figure out ways to beat the heat today. triple-digit heat index values for much of the southeast up into the mid-atlantic and one in southern florida and macon, georgia, 99 for a feels like today there and actual air temperatures in the triple digits out west. excel excessive heat warnings in southern california, temperatures could be from 115 to 120 degrees through next weekend. all this heat around, definitely helping to fuel some of the storms. we have a severe weather threat, oklahoma, ton

what i found intriguing is that my amex or bank of america was scraped. it's legal, but i like to know it. i like to know it. i like to know that our democracy can shine that light and these institutions will survive. the actors may not. but shine the light, shine the light. that's what i love about this. >> so jason chaffetz, now a member of our fox family but formerly the member of oversight on the hill, he was on with me earlier as we dissected moment by moment what was going on. he said he was disappointed in the job that republicans are doing. there's no questions on david weiss on the hunter biden case and more. he says they didn't ask about the whistle-blower. so on and so forth. what he was mainly saying is they don't work together in concert the way that democrats apparently are. he said they're single actors and they had a few republican stars today but it needed to be more prosecutorial. i come to you on that because you've been on teams. >> it's so interesting. the whole purpose as kevin, you hit the nail on the head, the transparency because

it's sort of on the amex side of things maybe the higher income, younger tech executive, for example,and anthony noto telling me it gives a certain picture of the demographic and slice and consumer spending is strong there and they also have the debit card side of the business and they are factoring in the mild recession and still raised guidance with that in mind and the other thing that's been a hang over for the stock and the company has been the student loan moratorium, so student loans are pretty much flat and that's been hanging out there for three years or so, and at the end of this year and should help the business and people need to start paying interest on those loans again. >> the shares are up 150% since jan 1. the other thing that i sometimes wonder about when i see the rates they're the ones that you can get on the more short term savings and whatever they call it and if that will be an earnings problem and they didn't show much of an issue yesterday, but did that start to squeeze? >> sofi is one of the few fintechs that are a bank they got a bank charter by acquiring th

morgan and amex and visa hitting a new 52-week high and on the flipside, verizon is the biggest laggard the details next. don't go anywhere. ( ♪♪ ) this is our task. this is our mission. we have a clear focus, and we have the ability to be agile and innovate. it takes years of dedication to get us to this milestone. it is all because of you. never doubt that a small group of thoughtful, committed citizens can change the world. it is the only thing that ever has. ( ♪♪ ) to be a woman leader, it's not so easy. but it's easy if the passion and the love is coming from your heart. the new york stock exchange is the symbol of what america is all about. the potential of capitalism, the potential of the american dream. the only way you can move a society forward is a true expression of freedom. ( ♪♪ ) ( sfx: stock exchange bell ringing ) ♪ there are currently more than 750,000 unfilled cybersecurity jobs in the u.s. ♪ the google cybersecurity certificate was made to fill that gap. -with hands-on training, recruitment support, and access to a wide network of employers, this program provides the

amex gets punished. what are you learning from how we are responding?ith the big banks. they came out with great numbers and then they were not higher the way they popped on the original earnings. the question becomes are people reacting to this is as good as it gets? mortgage rates are too high. people do not want to sell their homes so new homes are going gangbusters. what happens when people start to go, ok, i accept those mortgage rates and they sell those homes? is that is good as it gets? did we have the massive spend in 2023 on things like travel and entertainment that people are going to start pulling back if things start to bite? we are not talking about that spending on goods where people are like, i have to have more patio furniture, i need another pool. is this a wave that will receive and if it does, are things as good as it gets for these companies? if oil prices are going up, that is tough for the airlines. there is a lot of different things in play but part of it is did we crest the wave of spending? jonathan: if you are more enthusiasti

amex shares tdown 2%, remember.ort from last week driving a little bit of that negative sentiment over the course of the last couple of days. we'll keep an eye on those shares. >> thanks. the producer is always saying move on, wrap, don't talk to don. this time he say i have some tape of brian harmon it was broadcast by nbc, so i can kind of see the synergistic mode of talking about the open championship right now. >> lap the field i mean, if you've noticed, he has showed up at a lot of majors in the past, but he's only won two or three tournaments and now this is -- and you know where he -- he's a huge sea island guy, huge frederica, one of the clubs down there huge. >> he's a georgia bulldog, right? he's got roots down in that part of the country. >> great to see. he does it all -- think about this, he does it all left-handed. i can't even imagine, can you? >> i can't imagine because i'm a righty myself. the thing that was crazy to watch oafver the weekend on nbc and nbc sports with this guy doing what he was doin

amex business. (vo) verizon small business days are coming. built for your business.st 7th to the 13th. now is the time to partner with our experts. get started today with verizon business. it's your business. it's your verizon. >>> welcome back to ""squawk box. disney's "haunted man cmansion. was overshadowed by "oppenheimer" and "barbie. the global phenomenon invigorating the box office pushing the gross to over $1.3 billion. that is the best level since 2016 i want to talk more about the weekend box office and the strike and how it is impacting a number of films and slates with matt bellon oi of puck news matt, it is great to see you let's start with the disney picture and how much of this is about what is happening inside disney and the creative juices inside of disney and the se seasonality of where we are and no promotion with the actors strike tell me about the mix. >> it is all a factor. this movie just got run over by the "barbenheimer" phenomenon. we are used to the past studios bowing down to disney with the summer movie tent poles and people scurrying and

amex saw solid -- the ceo sounded very positive on everything they're seeing.ry strong in particular around the globe, up 14% year over year and they expect double-digit growth there for the rest of the year spending overall up by 8%. its biggest demographic, mi millennials spending more year over year. they had over 3 million new accounts, 70% for their premium fee-based products, 60% of them are millennials so they think that gives them a long run rate. they affirmed guidance, they didn't say they have a beat here they said they don't have any inflexion point when it comes to spend and travel they have one of the largest travel agencies in the united states we'll see. something the street sees here it doesn't like. the stock is off by almost 3.9%. president biden bringing representatives from seven a.i. companies to the white house to announce the administration has secured voluntary commitments to move towards safe, secure and transparent technology and new york mets owner and billionaire investors steve cohen taking a new stake in pet retailer chewy a regul

you and i are looking at austin f1 and, red oak of the amex said you've got to go something cheaper innd we will have to do that. jonathan: mohamed el-erian is coming up later. tom: you ignored me. jonathan: as you often do to me. he says there is not enough focus on the supply side. tom: do you think mohammed is going to silverstone? jonathan: we can ask him. can i say, i love you are into f1 now. i love this. conversation coming up with red bull, i love you are in a position where you want that conversation. tom: for those of you who do not know this racket, think of the guy with the los angeles angels, otani. the guy driving for christian horner, he is like otani. what is his name? jonathan: first step in. tom: it is odd how extraordinary he is. jonathan: you have drivers like that now and then. tom: was schumacher like that? jonathan: sure. wanted to take the car to a place where other people are. it is not just about the car, it is about the person in it. the red bull race have done a phenomenal job. the guy making that job -- pushing that car. tom: we are going to digress and in

brexiteer and also seen as a climate change denier, ken clarke told the house of lords he was lost his amexank account as did michael forsyth, two tories on completely different sides of the aisle. >> jeremy hunt for heaven's sake, the chancellor have denied an online bank account because these banks decide they don't like. i don't they like like. i don't think they like the much. stanley the tories very much. stanley well, mean, i, i hear what well, i mean, i, i hear what you're saying and i'm, i'm struck dumb. >> if i was struck dumb, i should be struck down. >> not today. >> not today. >> i am struck down because it's actually all new to me now. i really i really say to myself the biggest error of judgement these banks have made and this bank has made is actually tackling nigel farage. yeah, that was a mistake , you know, that was a mistake, you know, but the point. >> nigel farage made every single day is that it's not just about him. it's about everyone in this country who doesn't have a voice, who for one reason or another has been debunked. and it is usually because of their views, b