joining us is bob pisani, host of cnbc's etf edge. who better to ask, bob.give us the lowdown here. >> i'll tell you, i'm of two minds about this. i've been covering this a while. the guy making the money on this. i think on one hand it's great. there's new ways to play the market. and the appeal to retail is very obvious. it's a one-day bet. you win or lose the same day. it's cash settled. that's the key. cash settlement. and you get this nice little dopamine rush. it's a one-day bet. on the other hand, you know, the jack vogel inside of me says do we need to really keep expanding the derivatives market, and particularly for retail, which is what this is geared towards. it encourages market times and day trading and we all know people make a lot of mistakes when they trade excessively. i don't think there's as much systemic risk out there right now. there is some concerns that the derivatives market gets so big the tail starts wagging the dog but those concerns have been around for a long time. more concerns about this, gary gensler calls it gamification. h

still hovering near session lows let's go post to post with bob pisani. >> september is living up toof being a lousy month for the markets. two sectors that are looking very poor in the last week or so, technology stocks and consumer discretionary taiwan semi, one of the big semis that trade down here this was $95 not long ago. now at $88 all watching that arm ipo. the arm priced at $51 on the nasdaq, went to $69. this morning $54 to $55. still up, but definitely off the highs. salesforce, one of the big names in the dow just $225 a week ago now $213 ibm also a leader in the dow, down in the last week. both of these big tech names have been weighing on the dow jones industrial average then the consumer discretionary group. remember housing was such a big leader in the middle part of the year pulte has been looking rather poor in the last few weeks down 7%. it was $85, $86 less than a month ago. now $76. most home builders are coming down there are supply issues. demand is high for new homes mortgages are an issue some retailers have been acting poorly lowe'shas been terrible this wee

first, let's get to today's market, bob pisani over at the new york stock exchange. a little better picture this afternoon, bob. >> yes, we did not start off well. mid-morning we turned around and let's call everything flattish at this point and there's been a lot of damage underneath the surface and the s&p is down 4% and that's a terrible performance and the dow is up 2% because of health care did better and some of the energy names outperformed like chevron. nasdaq's down about 6%. russell 2000's down about 7% so it's been rough on some of the small-cap name heers and look at the dow laggards and you can see the effects the higher interest rateses have and it impacts consumer discretionary stocks and nike has been practically straight down for a couple of weeks and salesforce, big leader in tech and apple week and the credit cards like visa, amex not acting well at all in the last couple of weeks and there's your impact, consumer, consumer spending and technology stocks. real estate investment trusts and higher rates. that's obviously a connection there and you see

from josh brown's futureproof conference jennifer grancio engine number 1 ceo with our very own bob pisanilly, good to see you as always. beautiful huntington beach, california. jennifer grancio is the ceo of engine number 1. thanks for joining us. a couple months ago a little bit of news here. engine number 1 announced you were selling your etf business, you're going to be going with it to tcw, the big asset manager. what was behind that move? what was the decision there? >> if you think about engine number 1 and everything we set out to do, we have an alt business and an etf business. from a proof of concept business the active funds like net z and sub have done very well. so there's an opportunity to be acquired and scale the business, which is terrific. you need scale. to grow an etf business. and tcw is looking to really underwrite their active equity and their etf business. >> and when is that deal going to close? >> hopefully very soon. >> you're going to go with them? >> i am. >> you're going to be managing the etf business, the whole thing you became famous for. and you became fam

bob pisani this morning.fter the break, we'll get to a trio of retail downgrades, including macy's, talk about rising gas prices putting pressure on the consumer sector. >>> plus, we are watching target. management saying it will close nine stores due to violence and theft. we should note that target has nearly 2,000 stores in the united states. shares are up a little bit today, but they have been lower of late. lowest since may of 2020. we'll be right back. - i got the cabin for three days. it's gonna be sweet! what? i'm 12 hours short. - have a fun weekend. - ♪ unnecessary action hero! unnecessary. ♪ - was that necessary? - no. neither is a blown weekend. with paycom, employees do their own payroll so you can fix problems before they become problems. - hmm! get paycom and make the unnecessary, unnecessary. - see you down the line. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching

our own bob pisani. welcome to all of you. peter, i will start with you because i think you summarize it best when you say it is just the sovereign debt bubble popping. do you think that will keep people seeking alternatives for sometime? >> i do. and the bubble peeked when we had $18 trillion of negative yielding securities in europe and japan. so this unwind is a global phenomenon and, yes, i think a lot of people are trying tofind other things to sort of hide out in. what is most empressing about gold interesting about gold is how well it has traded in a short period of time. >> i guess the question to ask as a quick follow up, peter, to that is, you know, at some point do people say, okay, well, i have my exposure now to bonds, i have my ek poxposure to gold an there is really still no other alternative? >> well, the interesting thing about gold is that the demand is not just from industries. we have seen a voracious appetite on the part of central banks in wanting to own gold as part of their reserves. when the u.s. and t

let's get to bob pisani, of course, because bob you focus on the ipo market we've gotten these threeferings. where do we stand? >> well, it's opening slowly but very selectively, there's 800 unicorns that are out there. these are the early ones we elsee early trading is not that great. it's great they're pricing above the range. talking 19.2 million shares, the stock price was 27 to 29 for klaviyo. prior to that, it was 25 to 27 a few days ago so that's good news getting more prices but look at what's going on with the recent ipos. arm, priced at 51, opens at 56, goes to 69 on the second day and look here, we're at $53. but that's -- nobody got in except the insiders at 51. the average price on the first day of trading, the average viewer cnbc bought it at $60 they're under water. instacart, priced at 30, got to $42 yesterday right after the open and it's been basically down here in the $32 range you say, okay, it's still above $30, there's the initial price but the average investor on the first day didn't buy in on that, they bought in the mid 30s so average investment yesterday sti

bob pisani. bob does mention nike getting the pop on the back of the latest results. at this point and head back to sara at citi's tech and media conference in clivwi.beach exuse th arvind krsihma. we're back in two. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley. i did have hearing aids from another company... i was just frustrated... i almost gave up. with miracle-ear it's all about service. they're personable... they're friendly. i'm very happy with them. we provide you with a free lifetime of aftercare. meaning free checkups, cleanings, and adjustments. i see someone new... someone happy... it's really made a difference. hear the world better during our limited time sounds of autumn event. call 1-800-miracle to test drive our hearing aids risk free. >>> nike shares are sharply higher despite posting its first revenue miss in two years. the company beat profit esti

want to bring in bob pisani. you've been reporting all week, bob. >> i'm waiting for the 1% float.% float on most of these right now. there's two speed bumps we've had. number one, a very mediocre reception to the recent crop of ipos. that's a problem for arm, instacart and klaviyo. number two, the big problem, rapidly rising interest rates and a lower stock market. my heavens, if it's not an ipo killer i don't know what is. that is the classic ipo killer. mediocre reception, rising interest rates are a problem. we mentioned instacart, it broke below its initial price of $30. btig and susquehanna with a mediocre rating of neutral and pull valuations in both those reports. arm broke below its initial price again today. klaviyo at 31, barely above 30. this is a mediocre reception here. remember earlier candidates we were talking about oddity tech, k k kenview, blow as well. 800 tech unicorns sitting out there. you can go public at a lower valuation. we talked ability lower valuation and we talked about the need for haircuts and issues like that. stay private, continue to see funding.

bob pisani is live on the scene with more. hi, bob. >> hello there.ere. this was the brainchild of barry and josh. last year they had the conference and a their idea financial conferences are becoming a little obsolete, old fashioned. they wanted to try to bring it into the modern generation attracting younger investors, registered investment advisors. they put an emphasis on social, mine social. a conference on the beach, this is on the beach right now in huntington beach. they're trying to get all these young people in. method man is playing here. wu tang clan, red man playing as well tuesday night, so interesting mix of people who want to see financial stars as well as hip-hop stars. we'll a be talking to josh brown on "half time report" what he's trying to do to reinvent the financial conference. that should be fun. we'll talk to jan vaneck one of the etf stars here and talking to him what's going on with the arm holding ipo because he owns the biggest semiconductor etf out there, that's the smh and they will be a buyer of this, depending upon whe

let's get to bob pisani with more on what's moving today. bob?employment ticking up, but not too much. a wage growth subdued. we're getting a broadening out of the market. this is what we need. you want the ad line to move up. four to one advancing to declining stocks. take a look at the sectors. energy on an upswing. this oil we're way up six days on oil. ten-month high on oil. banks are doing a little bit better today. you see how flat consumer discretionary is. tesla on the flat side. most consumer discretionary rough. tech not as strong as the rest of the market. that's a pretty good sign. look at the leadership right now, commodity stocks, freeport, devon, a lot of oil stocks, halliburton and the banks among the leadership group. that is what you want to see if you want to see the overall markets moving up. what's lagging? you got your -- some of the tech names, nvidia a little bit weaker, tesla a little bit weaker, broadcom a little weaker. disney 81, julia was talking about it. that's a new low. if we close there that's close to a 2014 low

let's get to post to post with bob pisani. >> the s&p is up 16%, 17%, but a lot of parts of the marketcting poorly. consumer names have not been great. target, a three-year low for target. remember the heavy days of the pandemic. look at this, $118. we were north of -- close to $300 a couple of years ago on target. people were buying consumer discretionary items and nonconsumer discretionary items. since then there's been, of course, with high inflation, much less buying of discretionary items that are out there. target got hit along with that. believe it or not, even some of the dollar stores. dollar general is another one here that's gotten hit. they had a big comment at the end of august. they slashed their profit outlook at the end of august. talking about weaker consumer spending on nonessentials. we're in a new low for dollar general, dollar tree, same situation. so, the consumer staples in general have had a poor year. not just retailers. coca-cola is not doing very well. hasn't been doing very well. that's a new low for the year. it's not a 52-week low at $57. but they had a bi

let's go post to post with bob pisani for a look at what's moving. >> you were mentioning tech. these higher interest rates are a huge problem for tech and consumer names. consumer discretionary, even consumer staples. we've been lucky. we finally turned around. i was getting worried there. in the last half hour we went positive. the a.d. line is about flat. there's an awful lot of damage in the last two weeks. consumer discretionary names. obviously when you're dealing with rising rates, rising mortgage rates, the home builders will get hit. horton was $125 a month ago. it's down $15, $16. then there's other big names in the consumer space. home depot. this has had a terrible month overall. home depot was like $330 a few weeks ago. now it's $305. you're dealing with -- that's a 10% decline or so. that's a pretty rough move here. other stuff that's even worse. some of the other dow components. nike has been a horrible performer. it was $108, $109 just a month ago. look at this, $90 right you in. that's like a 15% drop in a month. these are big, big names. remember the dow is pri

let's get post to post with bob pisani. >> i'm very happy because we're getting a bit of a bounce and in the right sectors. small caps are bouncing. horrible month. midcaps are bouncing. horrible month where a lot of transports live. semis are bouncing, even though micron is down on the earnings. so, a little bit of maybe reaction to oversold conditions. i wanted to show you something right now here, not a lot of new highs out there, folks. smile, anthony. look at this here. exxon, $120.70 intraday. that is an historic high for exxon. my charts go back 40 years and nobody is telling me no. again, it's intraday. we'll see if we close here. it's down a little bit right now. there's those oil stocks outperforming. chef ran has been a stalwart. otherwise it's been about oversold conditions. all i get is emails, we're oversold, when can we buy? you can be oversold for a long time, folks. nike, this thing has had a very difficult month here. we were oversold at the end of august. it was $90. now look at it. it's $89. it's still oversold and it's been oversold all month. you could stay overs

i'm your coast, court any reagan filling in for bob pisani. to close the books on a rocky august and turn to september. but with worries, could there be little more than a september swoon ahead? data that isn't too strong but isn't too week and seasonality is not on the market's size. tom, we actually saw etf outflows in august the first time in february but demand for fixed income appears to be going strong. what's the big story for september? >> usually we don't see half of the money going into fixed income. all the money on the sidelines is coming in on the fixed income side. we see financial advisers and investors going longer duration not only into corporate credit but maybe that 5% yield won't be available anymore, so, in a way, they're protecting themselves. >> okay. christian, it seems like fear of the growth trade is fading partly in response to higher rates as tom is suggesting, though, investors are embracing a more risk-off approach. what are you seeing in the flows, and how do you recommend investors get in the game? >> it's about

leslie picker and bob pisani. back to sara eisen with citadel's ken griffin. sara? want to talk about. >> it's great to be here today. >> we're going to talk about education and why success in a moment, but first, big markets day for us, big ipo day. the folks were talking about arm. do you look at arm, which is the biggest debut in a couple years, as a sentiment barometer? how do you look at ipos and what they signal about where we are in the market? >> clearly the arm transaction is a sentiment barometer. the very fact that the deal is coming to market today, tells you there's a perception that our capital markets are reopening for ipos. and i really hope this is a deal that goes off very well today. we need to see all of the vc-backed companies over the last decade have the opportunity go to our public markets to raise capital, so that the founders have an opportunity to continue to grow their businesses and grow our economy. >> the markets and the economy, reflect. what comes next? >> i would agree. it's been a really good year for the market, particularly with

to bob pisani as the future proof conference for today's etf edge. hey, bob. >> hello, leslie.ancial advisors have gathered to hear advice from the galaxy of investing stars and do socializing on the beach. maybe a lot. let's find out what this is about from the sponsor ritholtz wealth management josh brown joining us, jan vaneck, one of the many etf presenters here. josh, we're on the beach. by the way, you didn't need to get dressed up for me. that's okay. >> i shouldn't have. >> we're on the beach. you've been looking to redefine financial conferences, did this last year, a lot of panels here, big stars, big financial stars. jeremy siegel is here, vaneck, jeff donelock and method man from wu tang clan. you brought in wu tang clan players. >> we did. >> to get at the new generation. what are you trying to get at? >> it's about 3,000 people here and we have i think three quarters of a mile of beach front boardwalk thanks to huntington beach, california. we've god advise from all over the country, fin tech executives, asset management executives, portfolio managers, wealth mana

. >>> now let's get post to post with bob pisani. >> sara has a great point.tes are weighing on the consumer discretionary sector, particularly where you borrow things like auto and home builders. kb home, that's a consumer discretionary, down 2.75%. this was -- look at this, 46, this was $55 a month ago. the whole group is starting to pull down. they trade etfs here on the electronic exchange. let me see if -- here it is. s&p home builders. this is the etf for home builders. that's down rather noticeably today. this was 85 at the start of the month. it's now 86. you can see this is not just happening today. it's down a lot today. we've been knowing about the higher rates for a while. another group that's been struggling with the higher rates recently are the real estate investment trusts. you know about the apartments, so they've been struggling for a while. that's been a subsector of the reit. here's crown castle. this is not apartments. crown castles is a big reit. they do cell towers. this is at say new low. it's rather surprising because that was a sector

. >>> a couple hours into trading, dow is down 300 plus let's get post to post with bob pisani. >> whateverpened to sell rosh hashanah, buy yom kippur. you were talking about amazon and alphabet, but the software names -- smile, anthony. here's oracle. oracle had earnings earlier in the month and they weren't well received we were 126 earlier in the month. 104. earnings aren't going to save anybody. most of these software names have been moving down. service now, here's another good example. they didn't have earnings but service now was $605 a couple months ago this was a market leader now 541. it's taken a couple of months for that to happen one thing i find concerning is the leadership groups is energy with oil up $90. we've seen refiners doing well oil service names doing really well, but not in the last valero, 110 to 150 as the names went through the roof. in the last few days it's been looking very toppy, even with oil still holding up in that $90 range. we've been talking about higher rates and what it means for utilities and what it means for real estate investor trust the reits hav

bob pisani made a good point and you underscored it, too, the first day versus the after days, and what was a pop turns into a drop in some of these cases. we'll see what happens with klaviyo. that's deirdre bosa. >>> up next, double dow stock coverage, the trades on nike and boeing are straight ahead. they're movers today. we're back from one market in san francisco in just two minutes. book a work trip. earn onekeycash. shake some hands. do not forget to laugh. [laughing] book a get-away-from-work trip. use onekeycash. order some sides. do not disturb. join one key to earn and use rewards across expedia, hotels.com, and vrbo. every business that's why comcast business de is launching theal. mobile made free event. with our business internet, new and existing customers can get one year of unlimited mobile for free. it's our best internet. powered by the next generation 10g network and with 99.9% reliability. plus one line of free mobile for an entire year. it's the mobile made free event-happening now. get started for just $49.99 a month. plus, ask how to get one free line of unlimited

let's get post-to-post with bob pisani >> dp >> good morning. >> we are waiting for klaviyo to open 35we're talking 19.2 million shares at $30. so, again, following the trend, not only upsizing the additional talk was $27 to $29, but even indications higher than the initial price here so let's figure out what's going on here. glenn carell, my own friend known for many years, a lot of big ipos down here on the floor over the years how's it looking >> right now, our indication is 35 to 37 we're excited about that here at gts. and the klaviyo team it takes time to build that book, and that's what we're in the process of doing right now >> those of you who want to figure out what time this might open, 19.2 million shares. a general rule of thumb is fair, wait for roughly 10% you want to see about 2 million shares that are offered. how many do we have offered right now? >> we want to see anywhere between 1.5 million and 2 million. so we're getting close maybe around a million or so, so we still have a long ways to go and still building that book we want to make sure everyone knows exactly w

and certainly is going to be embraced by those who want to believe that the ipo window -- i mean, bob pisani you think, carl? >> yes, he will. he lives for this stuff, literally. as we go to break, watch bonds today. not done with the data as we await michigan at the top of the hour, but we have worked our way through empire import, export industrial production today and rig count later on this afternoon. ten-year still elevated, close to 4.33% with the dow down 90 to start thisriy. fda (woman) what if my type 2 diabetes takes over? what if all i do isn't enough? or what if i can do diabetes differently? (vo) now you can with once-weekly mounjaro. mounjaro helps your body... ...regulate blood sugar... ...and mounjaro... ...can help decrease how much food you eat. 3 out of 4 people reached an a1c of less than 7%. plus people taking mounjaro... ...lost up to 25 pounds. mounjaro is not... ...for people with type 1 diabetes or children. don't take mounjaro if you're allergic to it,... ...you or your family have medullary thyroid cancer,... ...or multiple endocrine neoplasia syndrome type 2. stop

don't miss a special cnbc "pro talks" with bob pisani this afternoon from the future-proof conferenceift. - [soldier] i think we misjudged them. - i love horses. (birds chirping) - [soldier] we should open the gate. - let's see what charlotte thinks. - [narrator] at crowdstrike, we monitor trillions of cyber events to detect threats and prevent breaches before they happen to keep your business from becoming history. we stop cyberattacks. we stop breaches. we stop a lot of bad things from happening. crowdstrike. protection that powers you. we earn your trust. maintain our financial strength and stability. and deliver solutions that meet complex needs. massmutual. partnering with financial professionals, benefits brokers, and institutions. >>> news from ride-hailing platform lyft, the company launching a feature called women plus connect which will match women and nonbinary drivers and more women and nonbinary riders. people will be able to use a new setting on the lyft app to prioritize these pickups. the company calls the feature highly requested. meantime, early rollout cities will i