more than half of that in blackrock fund. their wealth management unit cio told the wall street journal there wasn't much appetite from clients. others have jumped in. hsbc. >> morgan stanley. >> morgan stanley, it is interesting. they pared holdings. >> they pitch them more to the clients. >> yeah. as of the last week, 15,000 fa ez afa's are allowed to pitch to clients. >> that is who is leaning in. who is the yang to the ying? >> talking about morgan stanley. $270 million position in q1. they pared that out and switched grayscale to blackrock. you see millennial management which is the biggest blackrock fund. they are down to $1.1 billion from $2 pa2 bi$2 billion. you have elliott paring back. jpmorgan had a tepid share to start with. >> we know the bigger established, i shouldn't say bigger players, not established. nobody is established other than grayscale. grayscale versus blackrock has been different over the course of the last six-to-nine months. what is happening here? >> grayscale had a huge head start. they had bla

>> blackrock. vivek: blackrock. blackrock is the top shareholder of u.s.teel, a top shareholder, along with vanguard. the very institutions that have advanced so-called environmental, social, and governance agendas through proxy voting power in american corporations, since i do find it to be a bit of a mystery that it would be a nominally conservative call for the u.s. government to intervene on behalf of blackrock to remain the largest shareholder of an american corporation, when in fact, that so american fund of blackrock has been voting for emissions caps u.s. companies while failing to vote for the same caps on chinese companies, has been voting for diversity quotas and mandates in u.s. company boardrooms in a way they have not been doing in ex-u.s. company boardrooms, racial equity audits at companies like apple. and get, that's actually -- >> ladies and gentlemen! vivek ramaswamy, climate denial is him -- denialism. [crowd booing] >> be quiet. >> get the hell out of here. what are you doing? >> climate conman! [protesters shouting "climate conman!"]

thanks for having me. >> that's rick rieder joining us from blackrock. let's bring in christina hooper at invesco. welcome backs. nice to see you as well. rick's point today is i think this market's full, right? the multiples expanded. the market's come back a tremendous amount since last monday. agree or disagree? >> certainly it's come back a lot. i think it speaks to the resilience of the environment, but i do agree that there could very well be significant volatility ahead. we could see some pull backs. i just don't think that's a reason to take profits off the table given how much cash is sitting on the sidelines for investors. >> sure. but that's not the reason that he necessarily suggested you should. it was more towards the valuation of this market is now stretched. like all of the good news is in. how do you respond to that? >> i don't think all of the good news is in. when we look at the forecast of earnings growth for the coming year, it's pretty good, and you have to factor in that there are more names in the s&p 500 that are potentially cont

joining us now on the cnbc newsline is blackrock's rick reader. good to talk to you. thank you so much for calling in. we have highlighted, rick, your post on social media within the last hour. you've heard a lot of the conversation, and i'm sure you've spoken with many people today about what the fed should do, if anything. you make the argument that it's time -- this is what you say, the need for the fed to move, the fed funds rate closer to 4%, to 4.5%, sooner rather than later, are you making the argument that the fed needs to move intermeeting? >> no, not necessarily. i mean by the way the markets are pricing in that they're moving through that over the next year and a half. i think the funds rate is priced wrong if you have inflation -- look at today, the inflation break-even mark down to 175. it's back to 192. if you have inflation the market thinks about the inflation well below 2%. the three and six month moving average is right at two, just above two, and you have an economy moderating. 5.38 off 2% inflation is not the right number when you have clearly pres

paul: we were speaking earlier this hour to an analyst from blackrock.te cuts from the fed heading into january. what is your expectation around the rate cutting cycle? >> our in-house of your probably is not as aggressive. we think probably there will be two rate hikes. really because of the environment that we are in. singapore will be the most affected. countries themselves probably will only react, and if they were to cut, it is to make sure the interest rate does not fall off, so we are a bit more optimistic that rate cuts in this part of the world will be more manageable. probably the in-house view is two cuts this year. paul: if we talk about you will be -- if we talk about uob specifically, you have recently acquired some of citigroup's asian assets. what are your plans for growth in these markets and elsewhere in southeast asia? >> yes, we have acquired in malaysia, thailand and vietnam. we have also announced that we have completed the operational integration in malaysia, indonesia, thailand. vietnam is the market we will complete next year. so

spoke about forcing change both -- liz: at blackrock. >> no, in the portfolio companies using blackrockonmental leads or changing board rooms and jamie dimon, same thing and great scene in the book where jamie dimon during the height of the george floyd protest took a knee during a visit to a branch in mount kisco where everybody called him up at the time, there was no comment and saying well, looks like you're advocating for black lives matter and there are solutions to what's going on in the country, and they're like yep. say what you want. we don't care. it's a funny scene in the book when i went back to them. the people at jp morgan said no, no, he's taken a knee and he doesn't support black lives matter. that's what they say now. you have that sort of various taking a knee and i don't know why fit the picture by take ago knee. >> if he was really take ago knee to fit a picture, they would have said it at the time. liz: this is true to your point and companies are back pedaling and ewe versus frequency sal put autothe movie twisters and a secondary from the original twister and they

i bring you inside the hallways of blackrock with larry fink, the big asset management firm that wassocial government investing, and you could make a good case, and i show it through anecdotes that hadsesg, the sort of notion that you're an asset manager and you tell your portfolio companies what to do in terms of reducing their carbon foot print, that if you do that enough beings enougy with oil companies, they are going to stop drilling and invest in windmills to get those esg scores up because their biggest investor is demanding it and that's essentially what happened, and one of the reasons why the second part of the book is called "go broke" is because there's been an unwinding of corporate wokeness and esg in particular. people are not embracing environmental social government investing because the secrets out there. when you tell an oil company in the middle of rising inflation, because of the fed and the biden administration spending, will come out of the covid lockdowns, you have a russia invading ukraine which constrains oil supply, then you throw in esg which does it, it j

it's target, it's budweiser, it's disney, it's blackrock.panies starting to move away from all their start of allegiance to wokeness. but it's still, it's still baked into the system, and and it's still having an impact. i mean, that's -- and you've got to read the book to -- neil: what's weird about that, charlie, and you brilliantly sort of lay it out there for us, is that even when facing some of these money-losing directives on racial, social, religious, hay still did it for fear of a backlash. now, some are trying to overcome that, but it's resulted in higher costs of a lot of what they do, and that's inflationary. to say whatever you are ethical views are. >> it is. it's inflationary and it hurts productivity. and, you know, neil, there's never one reason why a company goes woke or does nicker right many there's a lot -- anything, right? what i try to show in the book through funny examples, anecdotes but also through a lot of reporting was the evolution of how we got here. you know, one of the reasons why we got here is because, you k

they are of 3% after buying $2.7 billion of tlt, the blackrock long bond etf. they said that they have been waiting for a recession for a long time, as have a lot of people. th -- they are saying that it is coming soon in the next three to six months when you look at how rapidly the economic data is deteriorating. they are buying this protection. he called it an equity hedge in long bonds. manus: there is a nice risk-report. the risk-reward is interesting in the terms of collapse in rates. the same viciousness on the upside. you have steven mnuchin, it is an interesting week for markets. thank you for being with us. we are joined to discuss life life 360 since going public. ♪ my career in crossfit was the greatest lesson in teaching me how to confront pain. it's not the scale of how painful it is, it's just you confronting something that you just don't want to do. doing that week after week after week for a decade built a resilience in me. we're supposed to have many chapters in our life. when those chapters are starting to close, it can be either painful or ex

of blackrock, joining us here. an update on stories elsewhere.with yahaira jacquez yahaira: ceo's of britain's biggest companies had a slower pace of growth. medium pay for ftse 100 ceo's edged up, but well short of the 21% increases of the year earlier. medium pay for s&p 500 companies were up 12.5%. oil prices are extending their first weekly gain since july, climbing back above $80 a barrel. opec still remains above industry consensus, this is traders continue to monitor iran's expected response to last week's assassination to a hamas leader in tehran. opec is expected to raise crude production in the fourth quarter by roughly 45,000 gallons a day. disney announcing a new villain 's theme land is coming to the magic kingdom park in orlando. the opening date and details remain in the disney fault with the company only releasing this concept art. this is part of the $60 billion investment into the parks. it was previously announced last week, the cfo said weaker demand for the parks is expected over the next few quarters due to economic restrain

he was one of the first to discuss the terrible impact that major corporations like blackrock are havingn our real estate market, buying up houses, insuring the average american home buyer, somebody of my age, can only afford the dream of a boardinghouse. while i don't agree with jfk on a myriad of issues, he brings an important voice to the stage. i want to make it clear that within the race there are two candidates that have a clear lead, kamala harris and donald trump. right now rfk is pulling in the single digits. the amount of coverage you receive in the spotlight correlates to the current amount of support you have. we have witnessed him have a sharp decline. that is a representation of how the american people feel. i think it is fair to focus on the two clear favorites within the election, and that is kamala harris and donald trump. host: in alabama, randy. four democrats. caller: no way in god's green earth that i would vote for kamala harris. host: you say that as a democrat? caller: as a democrat, lifelong, 60 years, but i will never vote for another one. host: who was the last

morgan stanley trimmed its to around $189 million and swapped out its grayscale for blackrock's offerings has $5.3 million in these products. ubs and jpmorgan took on minimal stakes it's worth noting most banks are likely snapping up crypto for their clients not their own balance sheets you have hedge funds like millennium management some of the biggest buyers single largest holder of shares in blackrock's bitcoin etf filings also showed that point 72 asset management, elliott, apollo, citadel and the michigan retirement system have spot bitcoin in their portfolio. >> interesting. products in their portfolio. >> thank you for going through that. >>> next u billionaire investor leon cooperman, he'll give us his takes on the tubts in this market and the presidential election >>> plus, the white house announcing the results of their first negotiations when it comes to medicare and drug prices. we'll get details on that as well after a short break okay, team! oh, thank you so much i couldn't have done it without you. honestly, i don't do a whole lot here. i'm really just here for the at&t int

may be closed depending on conditions in which case people would need to delay their arrivals to blackrock city. last year, a storm created a muddy mess, stranding many burners. >> it was something else. all right, well, california's attorney general and the department of justice are suing a real estate software company, blaming it for skyrocketing rents. the lawsuit accuses the company, realpage, of price fixing, enabling landlords to avoid competition and raise prices across the board. here's how it works. apparently, landlords sign up by sharing rent data. then the software algorithm compares it with other landlords and tells them the maximum that they can charge. realpage says prosecutors are scapegoating its software. last month, the san francisco board of supervisors moved toward banning this kind of software. the band heads to a final vote next month. california college of the arts is facing a $20 million deficit, even as the school finishes up an expansion project to consolidate its san francisco and oakland campuses. according to the san francisco chronicle, ca's president announc

explain what is changing for the likes of apollo, blackstone, blackrock in the middle east in your region good morning. thanks for having me. executives from the biggest hedge funds being able to fly into abu dhabi, riyadh, and return with checks. that has changed. they control close to $4 trillion in assets and are aware of their growing importance in the global financial ecosystem. they have more negotiating have to and have gotten more demanding. they are asking western firms for breaks on fees, to hold more events in the region, to set up local offices and bring more people to live and work in the region. tom: what are some of the concessions, the biggest concessions, these firms have been compelled to make as a result of this shift? >> the biggest would be on fees. increasingly we hearing middle eastern wealth funds pressing wall street firms for lower fees, for a greater share of profits. firms in the past have had a two and 20 model, a 2% fee and a 20% share on profits. that is fading away. the middle eastern funds also have the ability now to work with asset managers they have rel

blackrock saying do not forget nvidia are not able to meet the demand, demand remains tight and jenseng about that. august the 28th and you can imagine the scrutiny. speaking to the ceo of iag, big day so that is coming up indeed. before that, the opening trade setting you up for the trading day. european futures pointing to gains, making up for losses. stay with us, this is bloomberg. ♪ ♪♪ ♪♪ relax into a caribbean state of mind. visit sandals.com or call 1-800-sandals. with so much entertainment out there wouldn't it be great... visit sandals.com ...if you could find what you want, all in one place? show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some of the biggest names in streaming, all for just $15 a month. get the fastest connection to paris with xfinity. anna: good morning from london. i am anner edwards. asian equities are higher, futures pointing to gains. treasury rally ignites debate, mary daly says the jobs market is slowing and the u.s.

joining me now is wei li, global chief investment strategist at blackrock.o surprise that wall street was chairing this direction, clear communication from jerome powell. ~ , ,., , ., powell. absolutely. he made it very clear _ powell. absolutely. he made it very clear the _ powell. absolutely. he made it very clear the bow _ powell. absolutely. he made it very clear the bow is _ powell. absolutely. he made it very clear the bow is quite - powell. absolutely. he made it very clear the bow is quite lowl very clear the bow is quite low now for a september rate cut and importantly, he made it clear he characterised labour market development as normalisation rather than weakness, which means when they cut it will be because better behaving inflation rather than a weaker labour market which is a weaker labour market which is a good combination for risk inaudible assets which is why markets rallied yesterday, but the big picture remains we are talking about an environment that fundamental matters a lot as well, people pay a lot of attention to earnings, and you ta

may be closed depending on conditions in which case people would need to delay their arrivals to blackrock city. last year, a storm created a muddy mess, stranding many burners. >> it was something else. all right, well, california's attorney general and the department of justice are suing a real estate software company, blaming it for skyrocketing rents. the lawsuit accuses the company, realpage, of price fixing, enabling landlords to avoid competition and raise prices across the board. here's how it works. apparently, landlords sign up by sharing rent data. then the software algorithm compares it with other landlords and tells them the maximum that they can charge. realpage says prosecutors are scapegoating its software. last month, the san francisco board of supervisors moved toward banning this kind of software. the band heads to a final vote next month. california college of the arts is facing a $20 million deficit, even as the school finishes up an expansion project to consolidate its san francisco and oakland campuses. according to the san francisco chronicle, ca's president announc

hide this and the liberation of areas, including agricultural land, which they will then give to blackrocker american companies, that's all, and remember, in this studio we have repeatedly said that the ukrainian government will engage in nuclear terrorism and nuclear blackmail when they will sag on front, they will simply barricade themselves in the as and threaten the whole world, look at what they have sunk to this week , they have banned the church, the canonical ukrainian church, the most sacred and the last thing that ukrainians have left, and you know, i can’t call it anything else, like a satanic sabbath, despite this there were 29 heroes of ukraine, deputies who spoke out against it, and four more abstained, that is, they are the last thing that people have left, they no longer have shelter, husbands, children, they have no children they took everyone to europe, for some reason they accuse us of kidnapping, not women, women were taken away too, everyone knows what they do there, they have left... so that nothing would fly in, if they were sure that a big war in europe with the par

most natural, that is, yes, this company of course. which, by the way, by the way, is financed by blackrock that is, to say that it belongs to the anglo-saxons, this is very superficial, belongs to rolschiln, everyone knows about it, yes, the anglo-saxons have no doubt, but the fact that this transnational company occupies third place in all production, everything is very, very important, i wonder how this relates to, let's say , geopolitical history, look, the fact is that scholz arrived, yes in july, scholz arrived there on issues precisely of slowly pushing back china, because if the extraction of the elite begins this drin. and idrita yes, then, accordingly, china, europe's dependence on china is completely will fall away, that is, 90, 890% according to various estimates will be mined there, this is the first thing, that is , they are moving there, the second thing that is happening, that is , in essence, they are starting to tear serbia apart, they are starting to tear this leadership away from the people, that is, they are being thrown into this world, yes, which is the globalists, th

frankly it is out of step with this current effort to anoint a senator from blackrock and netflix andthese other corporations that kamala harris represents and has represented. she has nothing in common with the populist message elizabeth warren has, even if i disagree with her solutions, she does identify real problems. >> an interesting point. silicon valley on wall street, she is getting a lot of donations as well. most of those billionaire classes going with the walz-harris ticket. that is the yin and yang, tried to get those aoc, maybe elizabeth warren types to come in. it's a bit of a motley crew but they are holding it together. >> 60% of her donations are grassroots but everybody goes after billionaires because if they can get hundreds and hundreds of millions of dollars that is something, peter teal is one of the biggest backers of the trump side. >> trump doesn't shy away from thinking they are fine. >> you do these culture war things to gloss over the fact you are accepting money or engaging in a back and forth with the same entities being criticized. >> the roster of peopl

already been brought to the city of zhol. including agricultural lands, which they will then give to blackrock american companies. that's all, and remember, in this studio, we have repeatedly said that the ukrainian government will engage in nuclear terrorism and nuclear blackmail, when they will sag at the front, they will simply barricade themselves in the as and will threaten the whole world. look at what they have sunk to this week, they have reached the most sacred and the very last. they have all taken everyone to europe, for some reason they accuse us of kidnapping, not women, they took women too, everyone knows what they are doing there are engaged, they have faith left, they took faith away from the ukrainian people yesterday, are we ready to agree to any conditions with them, it 's even scarier, yuri, it's even scarier, when we talk today about the possible use, it's a scary topic there of tactical nuclear weapons, we must understand that the americans, if we even imagine for a second that some nuclear facilities exploded on the territory of europe, due to terrorist attacks, the terr

spot coin etfs, there were $168 million of outflows, but the fund did not see any redemptions at blackrockat is a fraction of the $50 billion market cap of the funds. with the spot ether etfs, we saw $48 million added. these are not block row funds, but investors did not freak out. >> that's with bitcoin below 50,000 yesterday. it is 55,000 right now. i know you did a lot of reporting yesterday. something else you are following. morgan stanley is the first of the financial advisors to say they will add bitcoin to portfolio allocations. i have to ask what this could mean for crypto? >> this could be a game changer. we are talking the first of the major wall street players to take this step. up until this point, financial advisers were barred from recommending this to clients while they did due dildiligence. starting tomorrow, morgan stanley will be able to recommend bitcoin to clients. this is what the crypto market has been waiting for. >> you are obviously excited about it. it will generate more stories. i know you have done a lot of reporting on. this what about the other banks? schwab a

stuart: we thought that the chips, the blackrock chips would be a problem, but turns out they're going every year. that's now become a big plus i take it. >> that is. in this report, they talked about and touched on the anticipated and rumored black wall delays and they do appear to be about two months delayed. but they are coming to market in a reasonable time frame, and then we'll have a one year cadence of new product releases after that, which will make it very difficult for competitors to it rate at that same one year annual cadence and so arkansas so that will help them further create competitive modes in this market. stuart: chris rolland, another bull on nvidia. thank you for joining us. see you later. lou basenese, what do you make of that on nvidia? >> that's a condition servetive price target -- conservative price target and nvidia would become a $4 trillion cap company and they have to deliver perfect results and i don't like those on investing and bet that apple beats nvidia to the $4 trillion market cap on the hope of ai and they're going to be propelled by new ai growth

forecasts of our president, they come true in many ways, and not one of their artificial intelligence blackrock can predict the development of events, because it cannot understand the slavic soul and cannot understand what is happening now... many people skip when they see these freaks in helmets on the screen of their tvs or smartphones fascists with a swastika, when they have this cat of the victorious people, the people who lived, this horror of war, this hatred boils up in a great way, what it can lead to, they don’t understand, they don’t understand, but they have such historical amnesia, yes, there are journalists, such lightweight empty shells, who come... to sit, to hang out, mainly from the western media, they have seen this too, but there are journalists of the level of yevgeny popov, i am sure that not only all of russia, the russian-speaking world, but also many, many people will watch this interview on sunday, who know how to listen, hear, understand thoughts, in order to hear the thoughts of the head of our state, find some kind of civilized way out of this whole situation, which,

campaign hired brian dees, and obama and biden administration alum who has some experience from blackrockut was behind the hiring of lina hahn, i'm told. gene spurlling, a longtime veteran. but then there are some folks with private sector experience. i'm told that harris's brotherly tony west from uber, the chief legal officer from uber but has capitalist startup experience is that's helping with her views. and so there is a mix here. it's not just progressives and moderates. we're seeing a little bit of both. >> thank you. great reporting always. >>> coming up, not done yet. why markets haven't peaked. if you haven't already, follow our podcast. if you miss "worldwide exchange," checkut o spotify and other podcast apps. much more coming up right after this break. to remove boundaries... ( ♪♪ ) because this game is for everyone. pete g. writes, “my tween wants a new phone." "how do i not break the bank?" we gotcha, pete. xfinity mobile was designed to save you money and gives you access to wifi speeds up to a gig. so you get high speeds for low prices. better than getting low speeds for

you need the curve to normalize so blackrock and him specifically looking for the curve to normalize,eepening. you get 60 basis points of steepening, he thinks his start to unlock some cash and people started to pointed further out along the curve. lisa: to be the big test will be tomorrow. we have $44 billion of seven-yearand -- seven-year notes being auctioned off. the lack of certainty, even if you don't believe ultimately it will face off with the market pushback, there is a real question about how much this has already been discounted, the idea of the fiscal overhang in the u.s. jonathan: collin extending duration, has it become less attractive? >> it has become less attractive. i wanted you to be the first want to hear it because we have been talking about it for close to two years now. all the points you made are the key reasons. the risk war between investing a 10 year at 3% and the idea of rolling t-bills because you are at that decision is less attractive now. the 10 year can hover in this range for a little bit. we agree with the points he made about the yield curve steepen

there are about 250, 300 people here and a focus on institution, blac blackrock, morgan stanley, are managers say they're focused on producting a portfolio with the current market offerings. and there's actually little appetite for venturing into the next big coin. tokenization and stable coins are a theme here. i spoke to wyoming's governor about the plan to launch its own stable coin. if that works they'd like to tokenize other assets like gold and real estate. yesterday blackrock said one of the biggest challenges is where and what everyone wants to technto tokenize. they're excited to token eiseize everything under the sun. >> thank you. >>> coming up t ninheext hour, the outlook for gold as prices hit record high after record high. we'll talk to the chief of barrick to see if that can continue. nate jones... lines things up... checks his fidelity app... looks to outside analysts to get a second opinion. nate likes what he sees... and he places the trade... talk about easier investing. >>> let's bring in steve liesman on the phone from jackson hole with some reaction to those job

blackrock is still overweight on japanese stocks and they are citing the fundamentals remain strong.vestors still see the low valuation of japanese stocks being quite attractive. along with some of the structural factors with the wage growth and also japanese companies, pricing power, those are still likely to remain, so socgen the other day mentioned that this selloff is likely driven more by the flow instead of the fundamentals. goldman also say that once this is out, this selloff is out of the way, people are likely to continue to shift back to fundamentals and valuations. paul: all right. asian equities reporter, winnie sue, in tokyo. it lets have a check on how commodities are doing. averill is keeping an eye -- let's have a check on how commodities are doing. avril is keeping an eye on that. avril: $77 a barrel and this is against a backdrop of those concerns surrounding iran and israel. but the demand side of the equation i think is really the major driver. the risks coming through, especially given this risk-off mood in the region, but also what we are seeing on these u.s. jo

last week, traders pulling out $2.6 billion from blackrock's small-cap etf. maybe that was just a blip, maybe investors are shifting again. it is hard to read right now. ed: isabel leah crouse the markets. the biggest points movers to the upside is nvidia. i want to bring in daniel newman, the futurum group ceo. i don't think it is premature to say that nvidia reports august 28 and we just went through the eco-data and the impact of central banks. that is a big calendar item for everyone that much as the market. daniel: good to see you. after the first wave of big tech, there isn't an earnings report that is more in the throes of everyone's hearts right now and what will happen with nvidia. the ai bubble bears as i like to call them are looking for something to break. the announcement of some delays on blackwell got excitement last week, but may be muted a little bit by what was happening with the macroeconomy. on the others to bit, bulls are listening to these capex reports, all of these companies intending to spend big on capex, and that tends to be a win f

on today in the bay for the second year in a row, burners are bracing for potential problems in blackrockman beginning today. that plus all your y memory is an amazing thi, but sometimes it can start to slow down. but did you know prevagen can help keep your memory sharp? the secret is the powerful ingredient, apoaequorin, originally discovered in jellyfish and found only in prevagen. in a clinical study, prevagen was shown to improve memory in subgroups of individuals who were cognitively normal or mildly impaired. stay sharp and improve your memory with prevagen. prevagen. in stores everywhere without a prescription. >>> now have been nominated for best supporting actress in a comedy. your third nomination. well-earned. well-deserved. congratulations. >> this never gets old. never gets old. >> that's sheryl lee ralph, getting the news while hosting the announcement of the emmy nominees that she has been nominated for a third time for her hit show "abbott elementary." she is playing an old-school kindergarten teacher named barbara houser on the series. this "abbott" moment is a sweet rew

you to one of the biggest holiday weekend events in the west, burning man underway right now in blackrocky, nevada. and a san francisco man is there rolling out a special experience for the crowd. he's sharing what he's doing and why this experience is so personal. plus six babies in one friend group, all of them born within weeks of each other. we'll hear from the moms who are ecstatic about what they're calling a complete coincidence. those stories and more coming up at seven on west coast rap, followed by ktvu, fox two news at 730. >> all right, gianna, looking forward to that. but first tonight getting the entire neighborhood all on the same page. how green apple books has been u district in the city for gene ti s is it possible to count on my internet like my customers count on me? it is with comcast business. keeping you up and running with our 99.9% network reliability. and security that helps outsmart threats to your data. moaire dida twoo? -your data, too. there's even round-the- clock customer support. so you can be there for your customers. with comcast business, reliability is

blackrock bitcoin's etf passed the rate in may.wealth. you can read all about how the wealthy are making spending and investing their money, guys. >> fascinating. >>> up innext up, how many made millions in tim toc. thank you for watching. >>> "closing bell" starts right now. >>> all right, guys. thanks so much. i'm scott wapner at post 9. this make-or-break hour begins with a road to stocks and how much are hanging on the nvidia questions. it's the key question. some argue so much good news priced into this market. in the meantime take a look at the scorecard. a mixed picture for the majors today, although we're green. dow is trying to hang on. anything in the positive is going to be a new record. financials, staples, they're leading the market. the aforementioned nvidia is higher, and that i

now you have folks like fidelity and blackrock issuing etfs and wealth wise launching their own etfs,wing these things to happen. so we had, you know, bitcoin etfs come out earlier this year and then month, month and a half ago we had eight etfs. with that said, i don't think people can appreciate that there's a finite resource especially with bitcoin, so more money going after same amount of supply is a tailwind to the price of these things, and the number of people who are actually investing in crypto is very low, and now we're going to see -- even if everybody put 1% in, that's a massive amount of money that will flow into these funds. ashley: be interesting to see where it goes from here. we're already out of time, unfortunately. shan if remarks -- shana, thank you thank you so much. good stuff. by the way, football doesn't just have retail investors excited, bud light is hoping the college football season will help their redemption campaign with customers. beverly hallberg and carol roth will take this on. and, by the way, make sure to watch the education in america special tonig

vanguard bought some 3 million shares in the second quarter, blackrock, about 2 million.about 400,000. djt, it's in the russell 1,000 and 3,000 so we actually all might own -- stuart: does that mean they think trump's going to win? lauren: that was in the second quarter, and the answer might have been yes, but a lot has changed in the past couple of weeks. and what did we say a couple of days ago? djt has lost a quarter of its value since camilla harris entered the race -- kamala harris entered the race. stuart: let's get back to the starbucks. i want to to know how much they're paying the new ceos -- ceo, brian nichol. how much is he getting? if. lauren: must be nice. $85 million in cash and stock. here's the breakdown. $10 million cash, $75 million in a grant to replace the equity he forfeited by leaving chipotle. $11.6 million -- 1.6 million salary, a bonus of up to $7.2 million and an annual $23 million, stock award, and he does not have to relocate to seattle. they're going to outfit him with a remote setup in newport beach. >> wow. lauren: he deserves every penny of

. >>> and tomorrow don't miss blackrock's read rieder on the "closin "closing bell." helps secure tombacked by over 145 years of risk experience, helps investors meet their goals. pgim investments. shaping tomorrow today. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis, help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market. e*trade from morgan stanley with powerful, easy-to-use tools, power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley >>> we're in the closing bell market zone. mike santoli to break down the crucial moments this. trading day. jetblue facing its worst day ever, that stock is. phil will give us the details why. and more on disney's theme park expand. we'll begin with you. it's clear we're not going to go in heavy until we get numbers. whether it's retail or inflation or all the above.

in the financials the strongest names, goldman sachs, blackrock, things like that we're watching, andier when she said you buy the relative strength of the things that held up, so meta, which is actually the last couple of days is sitting. that's got great relative strength versus the market. netflix is coming on strong here and we're going to look at the new yearly high list on what things are breaking out on big volume and anything that had great reactions to earnings over the last few weeks. we're watching closely for follow-up to the upside. charles: love to enter earnings season because you get that nice list to pick from. gary thanks a lot. no matter what they say you're truck-u-lent. that's all i'll tell you. >> have a great day. charles: you know, of course we spend a lot of time with the fed on this show because jackson hole is a big deal but dye have to say i think the flip-flopping of the fed in the last week to a degree is worrisome because either they know something that we do not know, or they've lost faith in their own individual work. remember all these individual febr

budweiser, whether it's disney gratuitously putting same-sex kissing scenes into cartoons, whether it's blackrockrom this. and i guess if we're going to go meta here, you know, kamala harris, the democratic presidential candidate,s has said we need more wokeness. she said it, i'm paraphrasing, but she basically touted wokeness as, you know, a big part of her political appeal. the american consumer has rejected wokeness. i wonder if the american voter will reject wokeness, because she is woke writ large, and she is -- by the way, she's the tip of the spear of wokeness if you listen to her rhetoric. rachel: well, delta gave a statement to us on this, and it said delta encourages our people to use language that is the inclusive of everyone as our global customer base includes a broad range of diversity in cultural backgrounds, identity and experiences. so they're not backing away from it. [laughter] and the other person running for president, donald trump, he says everything woke goes to -- and you can just fill in the blank. [laughter] so we've got quite a contrast -- >> can't imagine what he said.

. >> of those that were calm, cool and checked was rick reader of blackrock, and he said, look, this presents a pretty good opportunity. i want you to listen to what he said yesterday and most importantly what he was doing and looking at. >> part of what makes this an interesting market is there's some stuff to do. there are some things to trade because markets are overshooting in a bun ch of places and you look at the move today, there are opportunities across these markets where we're seeing in extreme moves and taking advantage. by the way, i see the same thing on the equity market. i mean, some of the names that have reported good earnings and buying back their stock that are down mid-to-high single digits and there are opportunities some of those, as well. >> that's rick rieder. do you think we'll look back at this and say that was a great buying opportunity yesterday with a lot of different things? >> i'm inclined to agree with him that it will present some opportunities and it's just in the past when i see this volatility it shally has a few big up days like today and a few do

so i would love to see blackrock and them being pushed back. but, besides that.s is what kind of a country do you want? >> ainsley: everyone has been wondering where she is? why doesn't she talk to the press. why isn't she giving sit down interview to some news agency and we wanted to hear more about her policy. go the website, nothing on there. apparently rolling out economic policy today. people are curious what she stands for. even though we know her voting record. she hasn't sat down in 26 days. but she did release a video of tim walz. >> brian: oh so, there is an interview? >> ainsley: they are interviewing each other. >> brian: fantastic. >> ainsley: watch a little clip of this. >> i have white guy tacos. >> like mayonnaise and tuna what do you do. >> pretty much ground beef and cheese. >> that's okay. do you put any flavor in it. >> no. they said be careful and let her know this black pepper is the top of the spice level in minnesota. >> lawrence: black pepper? >> will: why is kamala an expert on tacos? >> brian: that's your take away point. >> will: dumpi

and that's -- we've got blackrock coming out with the nasdaq 30 new etf, they should just call it the bubble index, okay? that's the top growth stocks in the nasdaq -- neil: yeah, when they come up with different flavors of investment ideas to work off a fad. you might be right. but, you know -- >> i've never been so -- [inaudible] coming out. neil: okay. but the 35-40% hit that you envision, that would essentially halve the dow. is that what you're saying? and over what period? >> yeah. and that's it. i looked at every major bubble in history, back to 18000s, 1900s, the first crab, 28-422% usually in less than a year. that is normal when you're coming out of a bubble. what people don't get, this is not the '50s and '60s. that was a long, healthy boom. it wasn't bubbly. the '900s was the first bubble. and even the 2007 top, that wasn't bubble by. this second surge has been totally art a official. there's $27 trillion in stimulus, 6% of gdp, okay? i mean, we should have done even better than we did. this, these things never end well, and i was the guy that was criticized in the '80s an

you've got blackrock, vanguard, all building institutional-style positions and the thing that reallyis stock trades at 68 bucks which is five times from where it is today. charles: you know, kenny. i love a good short squeeze my man. groupon, by the way it has come across the screen a couple times so i'll check it out. thanks a lot my friend. real quick my two cents on jay powell and the fed, right? here is the thing. the fed doesn't work for you unless you're a banker. the policy choices will never help you unless you're already wets it. wealthy. in fact, woodrow wilson who imposed the idea he still signed on it later on said he ruined the country in the great industrial nation by making it a system of credit. now to liz claman. liz: a lot of people max out their credit cards to start great businesses that are still alive today though. charles: good point. liz: charles thank you very much. all right call it the jay powell jitters. at first, stocks were kind of in a holding pattern just slightly lower but with 59 minutes left to trade in the session, and less than 19

blackrock, morgan stanley, and fidelity are illustrating it with their actions. the aisle get it and on main street companies need this kind of digital capital if they're going to compete in a modern dick tall era. charles: well, again, last laugh saylor. it is just beginning. i appreciate you spending time with us. every time you do it informs the audience even more and i appreciate that. thank you. >> thanks, charles. charles: folks so kamala harris has picked her running mate. the thing though he hasn't picked any stocks, securities, real estate, retirement account. he has no investments whatsoever but he has visited communist china a lot. rebecca walser, she has some thoughts on this right after this. ♪. when the sawdust settles and the engine roars the thing you care about is a job well done. but when you get your tools from harbor freight something about the job feels different - your wallet. whatever you do, do it for less, at harbor freight. ♪ it's odd how in an instant things can transform. slipping out of balance into freefall. i'm glad i found stabilit

funds, that track the spot price of ether, that includes the grayscale eft, franklin templeton, blackrockthe red. van eck's down about 11% since july 3 launch. regardless, van eck is leaping ahead with its next spot, the ceo jan van eck joins us in a fox business exclusive great to have you here. can i just get your macro picture because we've got a very dramatic sell-off let's put it that way. >> and it's a new kind of sell-off, right? before it was the mega cap tech stocks rolling over. now, we have i think the concern of a slowing economy, reflected in the jobs numbers, ism, and i think what people are not talking about, but looking at is government spending which is huge. it's 6-7% deficits of gdp is propping up the economy. when that goes away, when republicans win something next year, government spending is going to come down. liz: well, here we go. we're looking at the s&p down 97 points, but those small caps that generated so much rotation excitement, hey let's get out of large mega cap tech like the smh, the vaneck semiconductor etf. that's been on a terror and yet now it is sign

he's a founding partner of the blackrock group, also with us is former democratic congressman patrick murphy of pennsylvania. he was also an undersecretary for the us army wonder mike, what you think because we see these polls in these key battleground states, they're very tight there within the margin of error i think kamala harris still very much has her work cut out for her and that's what republicans think. but then you have trump. he's speaking on the economy this afternoon, an issue that is supposed to be such an the advantage for him and yet in the last 24 hours, he's on truth social, he's posting all this stuff, including stuff with sexual content that's just kind of gross and creepy. and it reminded me yesterday of frank luntz saying you know, he's got to be careful about what he does because you don't lose if you're giving it away and that seemed to be what he feels trump is doing. what do you think about all this behavior look, i agree with frank on this, that if the campaign can stick with talking about the biden-harris agenda and make sure that the american pis in h the p

and the top three holders now are vanguard, blackrock, and state street. all passive investors. they own 3 billion shares between the three of them. there's 15 billion shares outstanding. you can't get out of this. the fact that he got out of this, that's why the stock underperformed all spring while everything else was going crazy about generative a.i., and the last point, this product stinks. buffett might have -- it -- he might have been a beta tester. he might have said, you know what i mean? this is not good. and they're pushing out a lot of those offerings, so, to me -- i don't know. >>> do not miss a cnbc special on today's major market selloff, that is tonight, 7:00 p.m. eastern time, right here on cnbc. >>> coming up, japanese stocks plummeting. what it means for global markets an the understood winding of the yen carry trade. >>> plus, a huge spike in the vix touching its highest levels since the pandemic. how options traders are handling the volatility ahead. "fast money" is back in two. ( ♪♪ ) morgan stanley is partnering with the women's tennis association to remove

was it blackrock yesterday that made that point? lisa: and charles schwab.ce appreciation. jonathan: coming up this hour, we will speak to anastasia amoroso of icapital as investors reassessed the post-nvidia earnings. william stein of truist on why he is bullish on the chip giant. and my computer lease on why the worst is let -- worst is yet to come for the labor market. -- michael puke police on why the worst is yet to come for the labor market. nvidia disappointing, dampening the outlook for tech stocks as investors began to question how long the ai party will last. anastasia amoroso is with us for more. anastasia, get super tactical short-term if you want to. is this a buying opportunity for you? is this weakness you would lean into? mike: i think it is weak still lean into in the semi conductor space. it is interesting you talked about this being a break moment for nvidia. i would not characterize it as such. i think it was a strong earnings report, but against very elevated expectations. what investors have gotten used to is that nvidia delivers blowou

us, john and i hear in chicago this is the big dance for democrats in the belly of the bold then blackrock stadium, democrats later today will be kicking off a historic democratic national convention history will happen here inside the united center. it will become the the home to the first ever formal nomination of a woman of color, black and asian as a major party presidential candidate in the coming days and hours, we will see past presidents, current republicans, social media influencer, then hollywood stars speak at this convention is kamala harris is agenda messaging and momentum. take clear shape with just 78 days to go to election day, but tonight it is president biden's night, who just four weeks ago, thought he would be the one accepting the nomination, even mentioned the bulls. >> i think the roster tonight might be able to beat the ball size. riley construct just trying to figure out it's like a name one player for them right now, the zach lavine convention with us now, cnn senior political analyst, mark preston, mark, it's great to see you. this is the democrats big moment. so