same for our interview with bob chapek, because he's 15, 18-minute interviews we're running much of themusly those who want to see the entirety, feel free, please, go to cnbc.com we'll have more from chapek coming up as well. >> david, that's a lot appreciate that. >>> as we go to break, watch gap today. kanye west says he's terminating the contract between the retailer and his yeezy brand he says they failed to distribute products on team and creating dedicated yeezy stores. the market not reacting. s&p has gone red don't go away. we lost about everything trying to pay for prescriptions. we spent our whole pension but couldn't keep up. so my husband just stopped taking his medicine. and then he had a stroke. i can't get back what i lost, but thanks to aarp, a new law will protect seniors with a cap on their prescription costs. that could have changed everything for us. i'm just grateful that no one will have to face the terrible choices that we did >>> welcome back the tech spyder ticker xlk losing a quarter of its value. apple is the largest holding and touting tesla the biggest short

they have expanded under bob chapek.hey have expanded programming to have general entertainment, but the essence of disney pluses for fans of the brands. not only families, of course if you have kids you are more likely to be a fan of those brands, but also for adults. single people and couples are fans as well. that is the focus of disney plus. if you are a fan of one of those brands, you kind of have to have disney plus to satisfy the affinity you have. you can't get that programming elsewhere. netflix of course is much broader based. it is very much a general entertainment brand. i think that has the broader footprint and i think disney plus is typically going to be an add-on to netflix. both are doing great. both will be "winners" in the battle for a successful rollout. i think both are going to coexist. i do not know that either of the cash that either of them care if one is bigger than the other. emily: streaming has surpassed cable for the first time. hbo's house of dragons has been a huge hit. who else wins and w

regulators seem to think so and we'll talk about it, coming up >>> plus, disney ceo bob chapek speaking candidly about their future in the streaming world. we'll round up all the headlines and a look at what could be ahead for the death of a la carte tv, aka, cable 2.0 "the exchange " is back after this striving to reach the ultimate goal of zero poverty takes more than everyone's hopes and dreams. at citi, it takes a financial commitment to companies who empower people to lift themselves up. it takes funding and building on our know-how to help communities grow. that's how citi is helping create a better future by committing one trillion dollars in sustainable finance by 2030. because it takes everything to reach zero poverty. ♪ ♪ >>> welcome back to "the exchange." let's talk about the buy now, pay later boom block, formally known as square, which owns afterpay surged during the pandemic. affirm shares nearly doubled in their debut, and paypal launched buy now, pay later as well everybody was sitting at home buying stuff online, and many people, particularly younger people, were payin

major kickoff at the company's d 23 conference in anaheim over the in an interview during d 23 ceo bob chapekd that the company is working a sports betting app saying sports betting is a part of what our younger say under 35 sports audience is telling us they want as part of their sports lifestyle. those who keep score on the sports world say the move would make sense with minimal impact on the disney brand. disney is already tied to espn. this talks about standoff see connecting it with us and they are the king. of course, that's where everyone goes for their sports information. and so i think it's natural marriage of sports. betting is clearly big business. the american gaming association says so far this year, more than 50 billion dollars has been wagered on sports. >> it is now legal in more than half of all state. and with return of football season, you can bet more people are joining the field, especially now for complete football season. >> so and people are now from a ridge kings and they see all the different types of bets and content that we offer. but soon a disney backed app could

we will get good insight a little later this week as well, when our own david sits down with bob chapek. that's this coming thursday and you do not want to miss that let's get to christina >>> three children have died after being found unconscious at a brooklyn beach monday morning, and the police are questioning the mother multiple family members said they thought the mother might cause the children harm. >>> now to tennis, and the youngest player to ever reach men's number one, and he defeated the number five player in four sets to win his first major. and tonight on cnbc and peacock, you can catch the emmy awards. two other first-time nominees, "severance" and "yellow jackets" will battle mainstays in a crowded race for best drama. can't wait scott, back to you >> thank you >>> the latest trends in eta investing straight ahead, and anthony scaramucci is joining us we'll be right back. ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking

. >> well, melissa, this is a win for disney's ceo bob chapek.loeb on board. this is a rejection of loeb's call to spin off espn, part of a series of requests he made after he disclosed a $1 billion stake in the company in august he responded, tweet ago link to chapek's comments. he said we have a better understanding of the stand-alone business and another vertical for disney to reach a -- we look forward to see mr. pataro, espn's president, execute on the growth now to the proposal that they accelerate the timetable for the remaining stake in hulu from comcast, chapek say it's possible and they are considering folding hulu more into disney plus of course, it all comes as to launch much more movie-themed attraction and extend pixar beyond just movies mel melissa, cheeker is at d-23, feeling bullish and confident. >> julia boorstin, thank you >>> gwhat do you think of the plan >> i would hold on to disney espn, people say it's still an anchor i think espn could actually be a driver going forward, just in terms of where the world is going, with ga

. >>> disney's ceo bob chapek is considering merging hulu with disney plus. any merger with the two services would require the company to buy one-third of hulu which is owned by comcast the two have agreement for disney to acquire comcast stock in 2024. >>> california is filing a lawsuit against amazon alleging anti-trust amazon's rules bar merchants from selling products at lower prices on its web sites. dom. >> silvana henao, thank you very much >>> we have a quick market flash. ethereum completing the merge. marking the most ambitious software in the crypto world today. the upgrade is set to reduce the ethereum energy and carbon footprint by 99% right now, cryptocurrency is up. bitcoin up 1.25% ethereum prices $1,602 up .75%. >>> when we come back, the clock is ticking on the country's first nationwide railroad strike since the early 1990s. now congress is getting involved we have a live report from d.c. straight ahead. >>> and president putin and president xi meeting with a face-to-face for the first time since the russian invasion of ukraine began. it is

don't want you to miss, we'll have an interview with disney ceo bob chapek as he lays out his plans foruding espn and a lot of other things. we're back in two. ♪ ♪ ♪ ♪ ♪ ♪ (vo) hi. we're visible. a different kind of wireless company... ...running on a big impressive wireless network. ♪ ♪ how are we different? we exist only on your phone. so you get unlimited data for just $30/mo, taxes and fees included. plus we have a new plan with 5g ultra wideband. switch today at visible dot com. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse witho

i don't know if bob chapek knows anything about fantasy i don't know if he knows the 50 million peoplentasy. i don't know if he knows how important it is for the fourth quarter. i don't know how important it is -- does he know about gambling their best hope -- they should just go merge with draft kings or buy it. >> well, they're not going to do that you know that. but he did -- i mean, he did talk a lot about his thoughts for espn, shared more than he has so far and there's going to be a link out to a site where they can make it frictionless i think they fully understand the opportunities, so that's why they're keeping espn, jim. >> david, if they fully understand it, the football season has started already it started we're on game three. if you really understand it, you do it during preseason what do you wait now you can't introduce it in the middle of the football season. >> i think these things take time to develop, and you're talking about a lot of different parties, third parties you got the leagues to deal with you've got the -- they're not going to become a betting site, disney

bob chapek has a three year contract and he's in control with his business team the parks are on firearks are all open they just launched a new cruise ship which is 100% occupied, two more ships coming. growth in the theme parks. and film people are coming back to theatres and the most talked about movie is "avatar ii" which comes out before christmas so they're getting their footing. they had a tough time during the pandemic most of what's going on in the current environment is extremely positive for disney. >> one of the other things i saw that came out of david's interview with chapek, he said he'd love to own all of hulu tomorrow but chances before the deadline are slim. what are the chances here? >> we're all waiting for the put call in early '24. our expectation is that disney does buy in comcast interest when that happens it'll be significant because they'll be able to consolidate the ad tech platform, the marketing. so there should be good cost savings, marketing, and they'll be able to put it together a driver for them has been general entertainment. so they're expanding that

on just a little piece of that legacy. >> reporter: tomorrow, we're going to have even more with bob chapek a look at your local spencer: today when highs inn >>> now to >>> now to celebrating the queen of pop culture. queen elizabeth reigned over the radio, television and even twitter with portrayals of her majesty appearing in countless movies, tv shows and more. deb roberts has the details. good morning, deb. >> reporter: good morning, michael. and that explains a lot. though she sat on the throne for seven decades, the 96-year-old queen seemed to have a knack for staying relevant. she had this global popularity and she discovered this knack by turning up in unexpected appearances and big cultural moments showing off her sense of playfulness and humor, which was on full display for a new generation. while the world mourns a monumental loss of queen elizabeth ii, her iconic pop culture image lives on. with an influence spanning decades, generations of people have come to know her. before social media, before the internet, before tv, the queen's had one of the most visible faces in history

don't miss a cnbc exclusive interview with disney ceo bob chapek tomorrow at 9:00 a.m.i want to go around one quick time on media stocks jim, you own paramount a lot of talk about their streaming service, the viability of that, a lot of competition. where are you at with paramount, looking like it's hitting a 52-week low today. >> it's not a good week. the viability of the streaming business is perfectly fine the concern is they're having to spend on content i think it's a very short-sighted concern, because they've got $4 billion of cash on the zbbalance sheet and theyr free cash flow positive from their legacy businesses and things like studios are rapidly coming back. i think the market is just frankly getting this wrong the outperformance quarter after quarter, in terms of subscriber numbers and staying on track towards profitability shows that this is a good management team that you should have faith in. i do >> feeling good about disney as well >> i am. >> carrie, you also own charter communications that also hit a 52-week low. >> charter has been a very poor stoc

times reporting disney is looking to merge hulu and disney plus in an interview bob chapek said the consumerthat disney plus consumer wants more general entertainment. he added once disney buys comcast hulu's stake, they can figure it out. an interesting move coming. >> it seems like such a fractionated market, anything that could make it a more seamless experience for the consumer would be a good thing. >> he said disney plus viewers want more content. perhaps it's a way to do that. >> thanks for watching "power lunch. >> "closing bell" begins right now. >>> thank you. stocks are rising on wall street building on last week's rally as investors await tomorrow's key inflation report welcome to "closing bell." i'm sara eisen take a look at where we stand in the market up about 200 on the dow. another broad one as well. the s&p 500 up a full percentage point. every sector is green. energy, technology, consumer discretionary leading the charge apple is at the top of the list. we're going to talk much more about that move in a bit if you look at some dow winners, you can see apple is powering tha

and ceo bob chapek for disney was asked about whether or not they're going to do it.klash for disney jumping into an industry that's known for getting people hooked on gambling. so i don't know. it's all about your brand. what brand you value more. well, see you know, they own 80% of espn. espn. >> is going to get in on this. yeah. it's like owning like i was saying before i candy shop cigarette store. you know, you like conflicting messages there. an event 7.42. is the % time. we'll be right back. ♪strutting your way into my heart♪ ♪take your hat off make yourself at home♪ ♪how about stay the night then strut on home♪ ♪day 1, i'm in love with your strut♪ ♪day 2, i'm in love with your strut♪ ♪day 3, i'm in love with your strut♪ ♪guess what, i'm in love with your strut♪ ♪i like your strut,♪ ♪do you wanna go struttin' struttin'♪ ♪you like my strut♪ ♪do you wanna go struttin' struttin'♪ ♪you like my strut♪ ♪then let's go struttin' right now♪ ♪ >> 7.44 and happening now, queen elizabeth body is going to be returned to london about an hour from now. our time they'll be fly

brand ceo bob chapek said, quote. >> we're working very that all way to cause. you said disney.. so some are wondering what kind of backlash though disney could face jumping into this industry which is known for getting people hooked on dambling. and that's not always a good and they're going to companies that, you know, are very different boards. yes, that many sports experts, though, say >> an app like that will be linked to espn. not necessarily disney. it's it's been 80% owned by disney. so they've got controlling interest and we'll see how they and had been water i mean, it's quite like this, but it's like, you know, candy company owning a liquor company. you know, i mean, think there. >> don't think they different goals. think so. we'll be right back. this labor day, save on select major appliances and get free delivery. get the lowe's exclusive whirlpool laundry pair, with the 2-in-1 removable agitator that lets you customize any load. get the products you need this labor day. research shows that people remember ads with young people having a good time. so to help you rem

separately, disney ceo bob chapek says espn is critical to the company, including sports betting. are just getting some headlines about the better administration perhaps broadening their curbs on u.s. ships exports. this is according to a reuters' report. it is based on restrictions communicated to letters such as kla corporation, forbidding them from exporting chipmaking equipment to factories that produce advanced semiconductors. that is what is going on in this part of the world. let's have a look at what we have going on in the show with the worst not over for energy markets. market- [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call right now. (upbeat music) haslinda: welcome back

espn at disney and certainly at paramount with their stable of cable networks, as well, but as bob chapek admits it's a melting ice cube. >> it's interesting, on the one hand yellow jackets basically get shut out at the end. i guess, yet "top gun" is the number one movie in america on memorial day and labor day, something that never happens. >> and he believes that will help sustain them in the fourth quarter when it moves to the paramount plus platform as well bringing in new subscribers, keeping subscribers that will there as well, so, you know, we'll see. there's always the question about scale here is paramount plus big enough to actually be able to be one of those key players? he obviously believes that given the start they've had the answer is yes. >> great interview >> thanks. >> really good all week long. as we go to break a check on the market, narrowing losses, dow down 220 s&p losses lower than 1% rhtack. it's going to take investing in some things you've heard of and some you'd never expect. it's going to take funding innovation in renewable energy, helping reduce carbon footp

david faber is at one market in san francisco, his exclusive with disney's bob chapek is moments awayigns that prices are falling, not rising, and a $20 billion software deal from adobe and that's where our road map will begin this morning, that desig

disney's expo over the weekend, the ceo bob chapek has big plans for espn he said the company had no less thanpeople who wanted to buy espn >> two questions one is no word, i don't think, on the gaming piece of this. a huge part of the loeb thesis at the time. you need to spin this off so you can pursue gambling in part because of the view inside disney as a family owned company, you couldn't do that. does this open that possibility up and this to me is a tactical question disney's clearly brought dan loeb under the tent to some degree is he now regulation fd, is he is insider for some period of time how does that work he clearly had some kind of meeting or access to them in a way that most other investors have not again, what they told him and how that differs from what they told others? i don't know to me, it is something i woke up thinking about >> activist dan loeb that's a slow news day >> disney. big deal espn not sold off. >> i guess i don't care i like him he has a lot of money. he take stances. you think he will ever say andrew ross sorkin changed his mind on something at th

in fact if you read that article that came up this weekend, it looks like bob chapek, says he's had regularbacking off the push to spin-out espn, because he thinks there's more value. now, i would argue, if you look at this tweet, i think lobe says it very clearly. he says that we have a better understanding of espn's potential as a standalone business, a vertical to reach a global audience to generate ad and subscriber revenues and we look forward to see the head of espionage else execute on the growth front. now what i want to make the argument. is there really that much value in espn as a standalone entity? isn't it kind of an aggregation of sports licensing deals any ways? what sort of ip do they have, espn except for the brand itself stuart: i'm with you on that one now, i believe bristol-myers squibb is up 7%. they've got a new drug which has won fda approval. what's this drug for? >> plaque psoriasis, not exactly the most attractive-type condition but a big money maker and it's rare to see a big cap of these type of blue chips move like this up 7%, so look it's a first oral drug to b

bob iger talked about how he doesn't think people will be going back to the movie theater in the same numbers. chapekwe're going to put films in theaters where we know people will turn out, we'll put them on disney plus when we know it's a higher bar to get out and they'll watch it at home and subscribe. >> they've done a pretty good job so far julia, thanks very much. j jon, favorite pixar? >> maybe "the incredibles. i have to think about that >> you have to think about it? >> i love so many "incredibles" movies while julia was giving that great analysis -- i was thinking about mary kate and ashley olsen. remember the direct to video movement and things used to come out on vhs and disney used to do all these not quite movies that's what disney plus in part has to grow into now if mary kate and ashley olsen were sort of this era, they would be tiktok and instagram stars. >> right >> and they would be on a streaming channel. how do you create the mary kate and ashley olsen effect? >> that's a good question, i'll be thinking about that all day mine is "great attitude" by far. >>> "tech check" will retu