also checking out what's happening with regard to overall the berkshire hathaway he ease wells fargo, a 27% reduction jp morgan cut by 62% pnc financial a 40% reduction. they got completely out of their goldman sachs shares as well occidental petroleum is are not completely out of their stake in common shares of occidental. maybe some oil commentary there. then one interesting look here it's a new position for berkshire hathaway in barrick gold materials one of the best performing sectors over the last couple of months gold prices are a part of that story. >> thanks a lot. the caveat to all of these filings is they are as of the end of the second quarter. i don't know who's got the dog probably bk. >> yeah. >> positions could have changed since then berkshire hathaway has been an acquirer of bank of america very recently part of that selling of financial stakes could be portfolio rebalancing here brian kelly, the gold mine of berkshire hathaway, that really caught my eye. >> that to me is the biggest news you heard my dogs barking. they thought it was huge news as well this is warren

berkshire hathaway build 5% stake in five of the biggest japanese trading firms.andidates lineup to replace shinzo abe after his shock resignation. ready to come about.

business to triller and berkshire hathaway has stakes in trading companies.nbc >> thanks for joining us let's get right to the markets the dow looking look it's going to pop 71 points and the s&p up a little bit less. it's about 10 points >> it's been a great august. the best since the 1980s it's best performance in 36 years. it's olding at new levels. good morning again. >> i'm so glad that you didn't refer to me as big momma c contessa thank you for that. >> it appears that a covid-19 vaccine could get special exemptions from the customary testing protocols. the fda commissioner says he would consider granting emergency authorization for a covid-19 vaccine before phase three trials end but in an interview he said it would not be due to political pressure to fast track a vaccine. tik tok parent company byte dance says it will follow newly tightened laws on exporting technology that could make the sale of tiktok's u.s. operations harder. the company tells cnbc it's not in talks to celebrate it's u.s. business to rival video sharing app triller but triller's e

coming up, when berkshire hathaway reports earnings.rs want to see where they are putting their cash to work. this is bloomberg. ♪ is is bloomberg. ♪ shery: warren buffett is betting on brighter prospects for berkshire hathaway. it shows what he is doing with at least some of his record $146 billion cash pile. seen recorde have numbers for buybacks of his own stock. >> i think that exactly going to make some shareholders quite optimistic. at the start of this pandemic, buffett has been really quiet. he was not buying many things and if anything he was selling airlines stocks. what we learned in the second quarter is even if he was not finding value in stocks of other companies he was at least willing to put more money into back 5.1and he bought billion dollars in stocks, a record for him. in what ways did we see the pandemic hit hard at the berkshire business stable? katherine: he has a large business. one of his most recent large deals. it makes parts for the airline industry. they actually had to take a $10 billion charge tied to that

berkshire hathaway build 5% stake in five of the biggest japanese trading firms.his is candidates lineup to replace shinzo abe after his shock resignation. ready to come about. u.k. treasury officials may be preparing big tax hikes as germany's schulz says europe's biggest economy should we implement debt limits in 2022. and take over part deux. , tryingsh to buy suez to create a world leader in waste and water services. just under an hour away from cash equities trading and europe. looking at futures, pretty decent gains after european stocks closed lower on friday. then u.s. stocks hit on the records. now we see dax futures rising about .6%. you do see a red arrow for ftse futures, but i assure you ftse futures are actually closed as it is the summer bank holiday in london. here, you see u.s. futures also rising, .4% gains in s&p and dow. many contracts, as i futures up .6%. let's get your bloomberg first word news stories. the top news this weekend saw the third death in less than a week amid racial equality protests in america. a man was shot to death in portl

his own berkshire hathaway is like that. it seems like only the other day he was beginning to be written off. these things change on a dime. interesting too that the yen is below 106 these days. i think didn't have anything to do with these deals either. more expensive fan then it would have been sometime back. katherine chiglinsky, covering berkshire hathaway there for us and the pursuit by warren buffett of those five japanese brokerages. do stay tuned. more "markets" next firm -- from new york and toronto. this is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. coming to the green flag, racing at daytona. they're off... in th

his company berkshire hathaway revealed that its aircraft—parts manufacturing business is now worth $10ace firm back in 2016 for about $37 billion. the global aviation business has suffered greatly because of the coronavirus pandemic — and that's had a knock—on effect on berkshire hathaway. president trump has signed executive orders aimed at providing aid to us workers suffering the economic impact of the coronavirus. the move comes after talks with democrats on a rescue package broke down on friday. the bbc‘s north america correspondent david willis sent us this report. with a flick of the pen donald trump sought both to bypass lawmakers and defend the world's largest economy against the ravages of the coronavirus. through these four actions, my administration will provide immediate and vital relief to americans struggling in this difficult time. weeks of negotiation between democrats and the white house over yet another economic stimulus bill broke down on friday with the two sides still trillions of dollars apart. a call by the house speaker to meet in the middle went unheeded. so,

she covers berkshire hathaway for us. there's a huge wall of cash.ow much of that wall do they use to acquire japan? reporter: technically just a sliver. the stakes were valued at more than $6 billion, but he has a heord $146 billion of cash is working with. while it is just a sliver, i do think the deal for these stakes in some of the japanese trading firms is really monumental in terms of how berkshire is thinking about investments and where they are looking. tom: what is have important, if you look at any of the websites of the trading houses, i want to be clear, only a korean equivalent, and maybe that is it. there's no american equivalent to the breadth and the depth of their ownership, their joint ventures, there across asset negotiations. is this a bet on these companies, or a bet on the future of japan? katherine: i think, given how big these companies are and the wide range of industries they -- for example, they control one of japan's biggest convenience store chains -- so i think in a way, he is really giving a full sampling of the japanes

cheryl: right now interesting,, berkshire hathaway bot 5% stake for more than six billion dollars berkshiren 90th birthday berkshire plans to hold investments long term could increase stake to 2.99% in any five companies. >> as to well spacex celebrating another historic watch. >>, 2 -- 1, 0, ignition liftoff. >> carrying satellite that will monitor national disasters this is the first southbound rocket to launch from cape canaveral more than 50 years, the rockets normally take off from congressional the wildfires forced spacex to move the launch to florida. >> many are soaking up last days of summer farmers he almanac looking towards winter, extended forecast for 2020, 2021 season shows a brutally cold snowy season for much of the countriez? in mid atlantic he could see a blizzard second week of february to look forward to dagen. dagen: i am a big believer in the farmer's almanac. cheryl: me, too. >> growing up in country you betcha. thank you. >> restrictions from china, slowing talks to sell u.s. operations of tiktok the rules issued friday affect export of artificial intelligence techno

berkshire hathaway saying holdings in these japanese trading companies were acquired over 12 months. e acquiring slightly more than 5% in these five japanese trading companies. they have acquired these stakes for the long-term according to a company statement. haidi: all right. we will continue to watch the market reaction in japan. interesting timing for berkshire hathaway given the political uncertainty we are dealing with. we are seeing the aftermath of a pretty negative market reaction on friday after we had the speculation that had been going on for a couple of weeks. concerns of shinzo abe leaving. we are getting japan industrial numbers out at the moment. we are seeing a star contraction of 16.1%. slightly better than expected. month on month, a gain of 8%. also a beat. , we are seeing a year on year contraction of 2.8%. month on month, a contraction of 3.3%. when it comes to the department stores and market sales, that was pretty much on expectations. seeing a contraction of 4.2%. plenty more to come on daybreak asia. this is bloomberg. ♪ haidi: sifting to the hurricane threat

that was really the last big mega-deal berkshire hathaway has done. yes, they bought dominion energy for, how much was that, $10 billion back in early july but not on a mega scale. they have all of this cash, okay, they are buying stuff back but where will he go with that cash in the future? we have to wait and see. that cash pile grew by $9 billion from the last quarter which was a tough quarter, as we know the stock dropped 19% because of what the pandemic had done to many many industries. but as you say, interesting way to see where he goes but that big acquisition of bank of america shares raised a few eyebrows. liz: yeah. and you know what, you look at a precision cast parts years later since 2016, 10,000 job losses. we'll be keeping an eye on that as we know, listen, airplane parts, boeing, travel's not happening. we will be watching it. ashley, thank you very much. that apple investment, boy, that's been a winner for warren buffett. >>> closing bell ringing in six minutes. dow up 353. the small caps having a 1% gain today at this point. as tens

abe's term in september of 2021 shares of japan's five leading trading stocks are higher after berkshire hathaway bought a nearly 5% stake in each company. japanese trade giant itochu corporation hit a new 52 week high today berkshire says it plans to hold the investments for the long-term adding it may increase holdings in any of the stocks up to nearly 10%. coming up on the show, the fda chief says he is willing to fast track the approval of a coronavirus vaccine before trials are finished. we'll have more details on his comments after the break so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. >>> welcome back to street signs. global coronavirus cases surpass 25 million the country added 78,000 new infections ta

folks, ahead of berkshire hathaway's anticipated earnings report the company is showing a little bitbuying appetite so is the oracle of omaha final ly nibbling, is it the signal we've been waiting for? find out for more, we'll be right back. all with no commissions. stocks by the slice from fidelity. get your slice today. come on in, we're open. ♪ all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪ mornings were made we'vfor better thingsng a way to keep on pushing. than rheumatoid arthritis. when considering another treatment, ask about xeljanz a pill for adults with moderate to severe rheumatoid arthritis when methotrexate has not helped enough. xeljanz can reduce pain, swelling, and further joint damage, even without methotrexate. xeljanz can lower your ability to fight infections. before and during treatment, your doctor should check for infections like tb and do blood tests. tell your doctor if you've had hepatitis b or c, have flu-like symptoms, or are prone to infections. ser

the more diverse they get, berkshire hathaway has that currency hedge against the yen.ou will see regardless of the direction of these trade wars between u.s. and china and all around the pacific and the eu, that kind of transnational, the investment that goes out of japan and between those major powers will give those trading houses something to get them through whatever the trade wars might cough up. tom: the nature of this is well known going back to 1950 and 1955, when they really been to expand. how does the dominant political party of japan, how are they involved in this relationship with mr. buffett? sophie: the ldp has been in charge for almost all of the postwar period. there was a little blip when there was a change in government that ended in 2012 with prime minister abe. the ldp is everywhere, it is like a giant octopus. they resemble these trading houses, as well. young people getting a job that one of those trading houses would be a dream come true. if you look in japan's parliament now, many of the big names in politics hail from those trading houses. tom

berkshire hathaway set to report its latest numbers on saturday.ame of your you are right -- did they really go against the grain within corporate america of reporting on saturday and then not even holding a conference call? that is what investors want, to hear from warren. why not have a conference call? >> that's the question. he has always been kind of opposed to some of the conventions that corporate america and companies do, but at a time like this when you do not get to hear from buffett that often, investors really look to him for guidance on how to handle situations like this, and i think his last speech to wall street was the annual shareholder meeting in omaha where buffett was sitting in front of a camera talking to investors virtually, and he was very somber and kind of dispirited, which is very unusual and also did not send a good signal to the stock market. i think people want to know if anything has changed since may. it's unfortunate we do not get an earnings call to hear from him and see how the thinking has changed. is he thinking

they're similar to berkshire hathaway in a way. he is giving his money to make the final stock picks as opposed to doing it himself. so an interesting investment there. >> in terms of it being a sector bet, it is definitely interesting. you think about his holdings in terms of the wholly owned businesses, it's massively exposed to north america and economic growth. with the utilities and infrastructure stocks. he sold some debt over in japan in yen terms earlier this year this could pair up i see the financial rational for it but also do agree that it's not the same kind of great business we found here at a fair price and we're going to hold it forever. we like how it managed or the business dynamics of it. >> maybe he's trying to diversify the composure away from u.s. dollars in japanese yen and barrick gold, a classic diversifier. but the other thing that stands out to me, mike, is that it's not the typical buffet crisis playbook buy america, buy some of the most beaten down companies. he sold the airlines and selling the banks w

battle brewing over one of the most closely watched deals in all of tech plus warren buffett's berkshire hathaway if you're looking for love, dan nathan found it in this name why he says investors should get ready to swipe right on this stock. we start off with the dollar dilemma. feeling the pressure today as yields crumble this move lower has huge implications on commodities, rates and multinational stocks tim, you say this is the sloppiest chart in the market right now. why? >> this has not been orderly sloppy for the dollar is not something we should feel confident about. in the short-term, i think the dollar is oversold i think we could see the dollar bounce a bit but i think this trend is intact i think it's supported by some of the fiscal dynamics and really also a current account surplus in europe that people kind of forget about and banks that are a bit better in europe. what does this mean for oil? we forget that oil was really the asset class that led us down into the abyss this was a sunday evening when people were concerned about the rest of the world and you saw that saudi and russi

i didn't know berkshire hathaway has $146 billion in cash.n you look around, microsoft's got cash, amazon, apple's got a ton of it. i think google's got a lot of it. there's ae non enormous amount cash if big corporations just sitting there. i don't think they know what to do with it. susan: cash is king in this environment. look how they have been rewarded with their stock moves. today, i think berkshire hathaway is a good example of that. stuart: what surprises me is they haven't bought very much. susan: no. they have been buying back shares. it's been more financial engineering, also with buffett buying back $5.1 billion of his own stock because he's trying to boost his stock price. if you are a shareholder you get rewarded for that which is compelling. stuart: thank you, susan. going to take a quick look at some of the big companies which are coming out with their earnings reports this week. on the screens, a whole bunch of them. i will go to ashley for canopy, the cannabis company. what's expected there? ashley: well, they just reported

. >>> let's talk about berkshire hathaway's bet on gold and to warn buffett's criticism of the natural metal, this is only $600 million, only about a quarter of the portfolio. the shares are up over 11% today. dom, let's talk about what's really going on. there's no way this was warren buffett himself buying, right? there's no way >> people who are more familiar with warren buffett and berkshire hathaway than i am all say this was not warren buffett putting it into action himself it could be the two guys taking over the warren buffett portfolio. we know he takes part in multi, multi-billion dollar transactions barrick gold, this is interesting only because we've seen the fruits of their labor the stocks have surged because the pandemic has put a tailwind to that. it's just interesting that this barrick gold trade has taken every gold miner up with it. >> anything you would add to that, robert >> i would just say let's not confuse the community with the commodities. he's buying a lot of gold and it fits his criteria. it generates a huge amount of income, $400 billion last year it's 11 t

is a longtime chairman of berkshire hathaway and also a philanthropist and has raised millions of dollars for clyde memorial church in san francisco by auctioning off a lunch date for a year. no word yet on how he marked it the day, but likely it wasn't a lavish celebration because buffett is notoriously frugal. in fact, he lives in the same home he bought in omaha in 1958 for $31,000. imagine that. is also said he eats breakfast at mcdonald's every day. >>> coming up tonight, oakland a's general manager ways and on the covid positive results on the team. >>> also ahead, the giants, how they won their first road series of the season. hey, my twitter is blowing up! dear jack box, bring back the spicy chicken strips, still waiting for the spicy chicken strips, so many about spicy chicken strips. wow, i hear you. so i'm bringing back my juicy 100% all-white meat spicy chicken strips combo for only $5.99! is it the juicy 100% all-white meat? or because you can spice them up or cool them down? or because a little birdie told me you wanted them back really bad... get my spicy chicken strips com

warren buffet making news over the weekend announcing that berkshire hathaway acquired a stake of more than 5% in each of the 5 leading japanese trading companies. those companies are itochu corporation, marubeni, mitsubishi, mitsui and sumitomo. he acquired them over a 12 month period through regular purchases on the stock exchange. berkshire intends to hold the investments for the long-term and that it may increase the holdings to a maximum of 9.9%. however buffet said that he would not go above the threshold unless given specific approval by the trading companies boards of directors this is a big one. a 5% stake would be valued at about $6.25 billion. and collectively that puts the bet on japan at about his 7th largest holding just above wells fargo based on the most recent regulatory filings he unloaded 25% of the holdings that he had in that company and of course his largest holding is apple. that company has now valued at about $90 billion and this all happened on his 90 birthday. he's constantly changing the way he thinks and the way he invests. he did say this is a bet and the

. >> we will when we come back, warren buffet's berkshire hathaway buying back a record amount of the company stock. we have a run down of the latest moves by the oracle of omaha next as we take a break, take a look at the price of gold it's up this morning after a sell off on friday now at $2,040 an ounce squawk box will be right back. stock slices. for as little as $5, now anyone can own companies in the s&p 500, even if their shares cost more. at $5 a slice, you could own ten companies for $50 instead of paying thousands. all commission free online. schwab stock slices: an easy way to start investing or to give the gift of stock ownership. schwab. own your tomorrow. schwab. lookentertainmentour experience: xfinity x1. it's the easiest way to watch live tv and all your favorite streaming apps. plus, x1 also includes peacock premium at no extra cost. this baby is the total package. it streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. yup, the best really did get better. magnificent. xfinity x1 just got even better, with pe

warren buffett who realizes that when the fed outbid him for airline stocks the game was up for berkshire hathaway and their modus operandi of the past 40 years to essentially game the system but when the fed starts the gaming buffett more than warren buffett can game the system it's game over so he dumped is back stocks has to harp on gold stocks something that he said he would never do or ever his career did a complete about face and he's can out of god's right he thinks that the system is about to blow up and he's preparing for it correct i suppose and obviously that will grease balls i mean he's no dummy he just wants to make money and what other sector besides the precious metals mining sector is now steadily increasing earnings and increasing dividends you know in a postcode world nobody no other sector is the gold sector is so case we put some money there it's i dunno i don't know how much i want to read into the fact that he bought some barrack other than for anybody wanting to trade and make their own little fiacha you know they always say just follow what war does kind of like you know d

market and hand it over to the small to midcap space >> a bit of support from the fact that berkshire hathaway has gone on buying the stake as well my question is back to the fundamentals it seems they've used the higher price to pay out debt. not to go on the hunt for the opportunities. does that mean we'll see the price go higher here without cheaper replacement? >> it is great to see more people come into the gold space, it would probably confuse a lot of those investors out there you've asked and who cares about my supplier. it does matter and we've seen structural changes in the mined supply of gold over the last decade or so it seems perhaps the minors are a little cautious about the strong performance of gold they are doing the right thing of handing cash back if gold price stays at these high levels, maybe they'll start to become increasingly comfortable. you are right. if they don't do that, then that becomes a contributing factor in the medium to long term. it is an interesting thing to look at probably, the thing they are looking for beyond the u.s. election to get beyond the short

warren buffett is gambling on better days for berkshire hathaway. t 1.5haway billion dollars buying back its own stock in the second quarter, and that higher pace may have kept going in july. bircher posted a 10% drop in operating profit, -- berkshire posted a 10% drop in operating profit, slower than some analysts predicted. priceing to reuters, the of close to $5.5 billion is said to be competing with private equity firms. it is a software company focused -- rober is ar software company. that is your bloomberg business flash. guy: thank you very much indeed. european stocks beginning to make positive moves. we are off very light volume, though. -46.45%,ndon market, the average daily volume of the left 100 days. it is august. tom: it is august, no question about it. a lift to the market. spx up seven on futures. turkish lira, 7.33. keeping us inform. this is bloomberg. ♪ guy: guy johnson in london, tom keene in new york. tom, let's talk about what is happening in china, bloomberg learning china will sanction top u.s. officials in retaliation over ho

berkshire hathaway and the viking global hedge fund out with their second quarter holdings.hat managers chase the stay-at-home trade while others look at big -- big tech positions. joining us is dani burger. dani: warren buffett and berkshire hathaway making some big changes to his portfolio, reflecting what he says is a cautious outlook on the economy. we heard him talk about this in some of his shareholder meetings earlier this year, so he completely exited his share in goldman, and cutting his exposure to j.p. morgan and wells fargo, which is interesting, because warren buffett has said in the past they were a good long-term play if they did not make any mistakes, banks. america,d to bank of and another, which perhaps shows pessimism in the direction of the u.s. economy. meanwhile, some of these big names that are popular, and we saw a lot from home depot and lows, that diy, so pershing square and ackman, by the way. it gets a little complicated. you can see some of those telecom companies, and we did actually see some big name cuts. netflix, facebook, and viking at d1, a

warren buffet's berkshire hathaway and apaloosa did with their cash in the past month and a half we'llhing when worldwide exchange returns i had saved up some money and then found the home of my dreams. but my home of my dreams needed some work sofi was the first lender that even offered a personal loan. i didn't even know that was an option. the personal loan let us renovate our single family house into a multi-unit home. and i get to live in this beautiful house with this beautiful kitchen and it's all thanks to sofi. >>> welcome back we have a billion dollar bio deal to tell you about this morning. it's an all cash offer sanofi will pay off $100 per share. they focus on treatments from multiple sker lclerosis and a re of auto immune disorders it's the second largest pharma deal this year it's slightly above the price. the deal is for $100 a share it's the sticker at 101. all right. let's get a check on this morning's other top headlines including continued tough times out west they deal with record breaking heat and more. he's in new york now with that and more good morning. >> good

berkshire hathaway, 13f filings told us that warren buffett trimmed some of his holdings.t could be holding that sector back. the last one on the board, ci financial. up a percent today. this is the toronto-based asset and wealth management firm that has been making moves south of the border in some interesting acquisitions recently, under the leadership of their ceo. let's bring in kurt mcalpine on. what is attractive to you, running the shop, trying to transform ci financial with these u.s. businesses you have been picking up? shortly after joining the company in september, we rolled out a strategic strategy. modernizing assets, expanding wealth management, and globalizing our company. we are by far the largest of the independent asset and wealth management companies based in the canadian marketplace. anyone that is larger than us is owned by a bank or insurance company. the market dynamics are very mature. we have a very strong starting point. when you look at those market dynamics and rely solely on a market with those characteristics, we believe that is a risky strate

that people were investing for warren buffet was asked in 1983, why don't you split your stock berkshire hathaway was the most expensive in market. his answer was simple. he said, people that would buy a stock because it splitting are buying the company for an uneconomic reason. somebody that buys a stock for an uneconomic reason would be equally likely to sell for an uneconomic reason and real operators, ceos of real business do not want shareholders who are not there for the intrinsic value of the business. it might be a good short term boost but long term it leads to nothing good i don't like it. i don't want to see a lot more of it and i never want to hear people say i'm buying this because it's splitting >> i think there's a different way of discussing the benefits of this as similply as he puts as opening up your stock to a new class of potential shareholders >> the josh's point -- >> it's not relevant anymore >> you've only had two stock splits announced in 2020 in 2000, you had 83. it's the most we have seen by leaps and pounds since then. kerry, is this a good idea to have more companies

berkshire hathaway spending $6 billion on japanese trading firms.arren buffett has included some of the biggest japanese trading companies among them. shares rose 5% in tokyo. global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in over 120 countries. alix: thank you so much. apple and tesla jumping today. with the splits is to make them more accessible to investors. has adjusted his price target for tesla to 380 with a bull case of 700. how much of your upgrade had to do with a practicing of more retail coming in because of the stock split versus something fundamental? dan: in my opinion the stock split is the right move at the right time. continuingomentum is to build more fundamentally in both of these stories in terms of the ev market with tesla, i think other tech giants could follow this. it speaks to them being in a position of strength and it was the right move and i think you will continue to see positive momentum looking forward. alix: some would say you can buy fractional shares a

china's new security law there we'll go live overseas with the very latest plus warren buffet's berkshire hathaway buying back a record amount of the company's stock. remember he didn't used to always do that the other moves being made by the oracle of omaha. amazon in talks with one mall owner to expand it's shipping operations worldwide exchange returns right after this businesses are starting to bounce back. but what if you could do better than that? like adapt. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. puts its customers a wiin charge?rier well, the good news gets shared. and it gets rated #1 for customer satisfaction. but don't just take our word for it. take theirs. it's your wireless. your rules. only with xfinity mobile. call, click or visit a store today. >>> welcome back time

quickly mention there wasfett because a selling out completely of his goldman sachs stake, berkshire hathawayeasing j.p.morgan, wells fargo, and this does reflect buffett's more skeptical view on the economy, she has voiced, also adding barrick, a gold company. his is a clear play of some skepticism on where the u.s. economy is going for here, francine. francine: thank you so much. dani burger with some of the big stories we have been following today. in the meantime, european stocks are actually fluctuated -- there we go, a guest appearance by tom keene, getting ready because he is joining me shortly. we are seeing light trading on european stocks because it of the month of august. investors focus on travel restrictions and of course a resurgence of covid-19. let's get to the markets if we can't to see exactly what euro-dollar is doing. looking at chinese shares, they are gaining after the central bank boosted liquidity. oil actually rising before an open bus gathering this week. and if you look at europe, airlines, travel agencies and real estate companies with the biggest drags on the stox

warren buffett's gambling on better days for berkshire hathaway. a record $1 billion buyback of stock in the second quarter. will blues 24 hours a day on air and on bloombergquint take -- bloomberg quicktake. this is bloomberg. ♪ >> we said let's have legislation on the things we agree on and knock these off one at a time. they refused to do that until they get their trillion dollars for the states. treasury secretary steven mnuchin on fox news on sunday. i'm jonathan ferro. looking to put the pressure on democrats in washington. the equity markets doing absolutely nothing. it is a snooze of an august monday morning. equity futures up 3%. they are down to one .17 66. -- 1.1766. we said this repeatedly, tom. the markets might be boring this morning, but the politics absolutely is not. tom: absolutely not. news breaking this morning of the sanctions. 11 americans sanctioned in china. fromlabor is with us eurasia group. john and the rest of the team. i want to go to the stunning azarry of mr. a's are -- with the taiwanese flag behind him. radio,f you

. >> warren buffet brought back over $5 billion of berkshire hathaway shares. it's been effected by the pandemic as second quarter operating profits fell by 10%. the company announced a $10 billion write down in it's business such as apple, amazon and jp morgan. >> president trump signed four new executive orders in a bid to help support the u.s. economy. and congressional democrats fell to reach a deal over a massive new stimulus package a federal evictions ban, a payroll tax suspension and student loan relief. he also brought down a level of jobless benefits a key sticking point in negotiations to $400 a week. >> democrats though hit out of trump's orders calling them unconstitutional the actions were meager and republicans must compromise over a relief package the u.s. economy added almost 1.8 million jobs in july down from a record increase in the previous month and above estimates he has more. >> the government reporting a better than expected gain in the month of july. it still represented a slowing from the strong rebound. 1.763 million jobs created acco

berkshire hathaway spent a record $5.1 billion buying back its own stock in the second quarter, and the conglomerate may have kept that higher pace going in july. they posted a 10% drop in operating profit, smaller than some analysts forecast. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ pres. trump: we've gotten much of what we wanted, and they didn't get what they wanted, and they would have, and i guess they still could, and all fairness. i hear that nancy pelosi wants to call and see if she can do something. but they are much more inclined to make a deal now than they would've been two days ago. jonathan: that's one of you. from new york -- that's one view. from new york city this morning, good morning. here's the price action this monday morning, two hours and 12 minutes away from the opening bell. two weeks of gains on the s&p. we are up two points on the s&p 500. yields down a single basis point on 10 year to 0.55%. pulling back down to $1.1751,

banks, of that, the warren buffett, berkshire hathaway and the second quarter really pared back on theinancials. ony entered gold, so bearish gold, something warren buffett is known for having avoided in the past. there is ats defensive position. the s&p 500 near its all-time high, not paying much attention. you could make the case too far, too fast. it took three years for the s&p 500 to get to current levels, taking about five months to get to its current level if he could take out the record high. we all worry whether it is to mill scum of the economy, china, the election. investors have a lot to worry about, but you would not know it looking at the stock market today. although again, a little bit of a defensive tilt. david: thank you so much, abigail doolittle. up next, the man who should have inn hosting democrats milwaukee tonight. we talked with ben wikler, about the state of his state and wisconsin. this is balance of power on bloomberg television and radio. ♪ >> this is balance of power on bloomberg television and radio. holding a national convention is a big deal, but was con

they remain at a stand still investors preparing for more earnings this week disney, uber, berkshire hathaway and some of the names for the week that we're all reporting. >> i'm joined by the ceo of commerce street capital and i'm looking at all the potential catalysts. we're not even mentioning the economic data with the jobs number coming out at the end of the week what exactly in your mind will be driving markets. >> i think the markets are going to get a lot of bad news this month and you're going to have to pick and choose to really try to interpret and see what's going on there's several things that had me nervous we're getting mixed messages from the market. i.t. is doing really well. but as you brought up earlier, treasuries up 30% from the year. gold up 27% for the year silver up 37% for the year you know, that normally doesn't happen in a bull market. there's some underlying fundamental problems hsbc that's a big deal we'll continue to see bad news on our banks in europe if you look at jp morgan for example, there's 587-on-their capital level down from 702. i'm calling him up and sa

what we are looking at is berkshire hathaway greatly pairing their stakes in the financial company. exited goldman sachs, perhaps more interesting for gold bugs, they have taken out a 406 he 3 million stake in barrick gold. after gold's worst week in five months, it will be interesting to see if that stake in barrick gold pops, that gold miner perhaps a tell for the gold bowls that warren buffett is seeing something he likes. typically, that will rely on the price of bullion. viking global america, they are carrying tests. they've boosted their stay-at-home stocks. , this year is all about the robinhood trader and if we go to the terminal, the robinhood trader is still getting the professional since the march lows. a little more than 60% and the s&p 500 really unbelievable as the march lows up 50%. thatr: it is interesting their new proposals raise the threshold that you have to report your holdings from 100 million to 3.5 billion. >> it is going to be interesting. the sec proposed this in july. from $100on up million. this is the first -- this is -- i should say the three point $5

[laughter] lisa: then tomorrow, berkshire hathaway reporting earnings. really interesting to see what they are going to do with their $137 billion cash pile. this is a microcosm if the u.s. economy. interesting to see any guidance about how some of them are weathering this period. jonathan: the price action shaping up as follows. in the bond market, treasury yields come in not even a basis point to 0.58%. , down 0.5%. have you picked up on the correlation? it is an equity market on a five day winning streak on the s&p 500. equities up and zero urgency in washington to get some thing done. if the equity market looked different, do you think the urgency displayed in washington might look different, too? tom: it would definitely look different at the white house. there is a tangible history if the president watches the stock market. i'm not sure if the congress does. what we will focus on and all of these conversations today, including the conversation with lawrence kudlow later, is the inequalities that have happened in this pandemic, and the inequalities

. >> we dug through a little further into the berkshire hathaway 13-f.uffett. it looks as though they have completely dissolved, got rid of the stake in occidental petroleum. they were dif depdz that vidend year ago to help finance the finance of a purchase. they took shares in lieu of a dividend payment whatever they had in common stock has been sold off. so perhaps an interesting look into what some of the managers at berkshire hathaway feel about the future of shale oil in this country. david tepers coming out appaloosa management it looks as though a couple themes on the payments technology side. new stakes coming up here in some of the payments companies, mastercard, visa, paypal and square all have new positions initiated there. then on the health care side of things, we've seen some increases in hca health care and boston scientific. meanwhile, a decrease in the stake in humana by appaloosa so we'll continue to kind of wade through these right now, those are the highlights between, again, berkshire and now appaloosa as well we'll continue to filte

cheryl: warren buffett celebrating his 90th birthday over the weekend by expanding the berkshire hathawaye again. this time, with big energy investments. berkshire took a slightly more than 5% stake valued at roughly $6 billion in mitsubishi, and other corporations. buffett says he's delighted to have berkshire participate in the future of japan. the stock is at, well, up $600 a change. all right. >>> we are just about 15 days away from the deadline for tech stocks to make a deal but with microsoft and oracle seemingly neck and neck, does the white house favor one over the other? charlie gasparino is here to break it all down for us. welcome back, charlie. charlie: thanks for having me. congratulations on saying those asian names. everybody's looking for tea leaves on when this thing will be done. obviously this thing, meaning the tiktok sale to whoever, two leading bidders, microsoft, oracle, big tech companies, everybody's looking at tea leaves. lots of reports today that the decision is made that it could be announced tomorrow. just so you know, that's very possible. the decision could

endorsement what's going on, the fact the world is a wash in fiat currencies an pld buffett and berkshire hathaway that and putting their money away in part gold i think speaks volumes, more so an endorsement of what he is seeing people better wake up the gold market though had a rough couple days, as did ilver, i believe this is just getting started and mr. buffett is backing up those beliefs. >> tim, your take? >> i think what's really interesting, i don't know if you have to connect his movement in banks and trade in gold but p t barrett this kind of move for mr. buffett is important to understand this is an improving balance sheet. been long time since we talked about minor and said it could be positive cash. they have $1.4 billion in -- $3.6 billion in debt couple years ago. free port max, similar story what we're seeing with the lower dollar but when you look what's going on with part and with gold prices, depending where you want to be, the notes on the street give you scenario analysis if you want to put $2200 price per ounce on gold and throw eight times on part this is 48 to $50 stock. n

right now it's 45% of berkshire hathaway that's how big it is this thing bailed out warren when he was puking out ibm and the airlines and so forth. it's really a question of who needs to lightning up and how long or do they, are they able to even meet the demand for the new phones is it going to look like the lines around the block for other things like pop yular movies an things like that we have seen that at apple stores we know that this one, according to most of the insiders is not going to be coming our way until october, rather than september announcement nonetheless, i think a lot of folks are going to lined up for the phone. will they be able to meet that will it be pushed out so far into the future that that is one of the reasons that people finally say, yeah, i think it's got to consolidate remember when we talked every week about the law of large numbers. i kept saying it doesn't matter. that doesn't apply to stocks it does not apply to stocks but that doesn't mean that trees grow to the sky. at some point, they slow down, at least, a little bit we know who the buyers are e

warren buffett's berkshire hathaway is betting $6 billion on japanese trading firms. buffett has taken stakes in five of japan's biggest trading companies. amongst them, mitsubishi and sumitomo. shares of all five companies rose at least 5% today in tokyo. another sign that china's economy is rebounding, one gauge of the service industry hit the highest level this month since early 2018. the manufacturing index fell slightly, but reported that new orders were up. in belarus, thousands of protesters again gathered to demonstrate against president alexander lucian go -- alexander lucas and cow. the eu -- alexander lukashenko. the eu criticized police crackdown on dissent. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> we brought up the number. i had a conversation with speaker pelosi. even on her counter offer, she can't tell the american people, nor me, what is in that. i can tell you what is in the offer the president made and is wil