telegraph us into bridgewater, vermont rated there was a deliver bridgewater went up to plymouth and there is not on the door the coolidge's were visiting and mr. coolidge, vice president coolidge his father, and so early in the morning in 1923, they had a knock on the door and the father answered the door and said what is going on and he was informed that harding had passed away. so his father would happen will calvin and shared the news with him and then they went downstairs and his father administered the oath to him and he was the notary of republic so he felt that under the circumstances this was something that he could just sort of take care of so that her country would not be without a president. so that happened and they went back to bed. it was very modest ceremony, just a few reporters a stenographer. missus coolidge. so grace coolidge, she was the opposite in character. she was fun-loving and got the stories from my mother in a grace and was a really fun grandmother hard grace glazed was a teacher for deaf children in massachusetts. in school for the death and for deaf and

and a telegraph was september from bridgewater, vermont and there was a deliverer from bridgewater that brought the telegraph up to plymouth and president coolidge -- vice president coolidge's father john, and so it was early in the morning on august the third, 1923, they had got a knock on the door and the father answered the door and -- and said, you know what's going on and he was informed that harding had passed away so his father went up and woke calvin and said the news to him and then they went downstairs and his father administered the oath of office to him, john coolidge was a notary public, so he was -- he felt that under the circumstances this is something that he could just -- so our country wouldn't be without a president and so that was -- that happened and they went back to bed and so, again, very modest small ceremony with just a few reporters, stenographer and mrs. coolidge. >> and when you mention mrs. coolidge, tell me about your grandmother. >> so she was the opposite in character. she was very vivacious. grace coolidge was a teacher of the deaf for deaf children in

a telegraph was sent to bridgewater, vermont. there was a deliverer from bridgewater who brought that telegraph up to plymouth. so there was a knock on the door at the homestead. the coolidges were visiting vice president coolidge's father, john. so it was early in the morning on august 3rd, 1923. they got a knock on the door. the father answered the door and said, what's going on? he was informed that harding had passed away. so his father went up and woke calvin and shared the news with him. then they went downstairs. they got dressed, went downstairs and his father administered the oath of office to him. john coolidge was a notary public. so he was -- he felt that under the circumstances, this was something that he could just sort of take care of so that our country wouldn't be without a president. so that was -- that happened. they went back to bed. again, a very modest, small ceremony with just a few reporters, a stenographer, mrs. coolidge. >> when you mention mrs. coolidge, tell me about your great grandmother. >> she was

bridgewater associate's founder ray dalio is our special guest >>> after pressure from activist elliot stepped down as the ceo of twitter. we will talk about that move and what it means for if platform and what his successor brings to the table. the second hour of "squawk box" begins right now > >>>, good morning, welcome back to "squawk box" right here on cnbc him i'm andrew ross sorkin along with joe kernon and becky quick this morning let's show you u.s. equity futures this hour, because they are down across the board. we are down on the dow now 386 points down on the s&p 500 about 43 points, looking down at the nasdaq off about 97 points now, breaking news, in the last hour, regeneron saying preliminary tests say an anti-body drug cocktail loses its effect against omicron, dow jones saying separate testing from eli lilly indicates it also isn't as effective against the new variant. the findings are early results of the race to try to assess the impact of the variant. meanwhile, oxford university saying there is no evidence so far the vaccines will not provide high level protection

just this week, david mccormick, the ceo of bridgewater, his name was floated in pennsylvania against sean parnell, the most pro-trump candidates. he is out of the youngkin mold. i thought it was luck though that donald trump didn't have some kind of intemperate tantrum and try to insert himself. >> he did. >> they kept saying he was going to have this town hall, invitation only. if a tree falls, did it really happen? >> but that links to a very very interesting point about trump. a number of people have used, isn't odd he hasn't come out and slammed youngkin, particularly when youngkin was denying him publicly? youngkin played the judas role perfectly. he just rolled the sap suckers up into one character. and trump was ok with that. i think i know why. for trump, he can suffer those outrageous assault on his person because it begot the win, in aw. after joe biden got elected against donald trump, the biggest difference in his when versus hillary clinton's david in 2016 was joe biden outperformed hillary clinton among two groups that overlap, independents and moderates, by 12 points.

i believe that ray dalio a bridgewater express that you not too long ago. right. what is the inflation picture in canada? it's kind of unfolding in different ways, different countries. and my understanding is that it is that people are saying it in the consumer prices of things for energy, for gas. i believe it's happening. what, what's the picture there? you know, i think this is a global problem. there has been way too much reliance on just in time, in the tree accumulation practices and the belief that the whole offshoring model was seamless. there would never be any kind of supply side to disruption. some co it has, i think, prove in the latest example why that's flawed, but there's many examples before that and they're not going to be easy. it's not going to easy to reconstruct, to supply line so quickly, given emerging geopolitical tensions. and also because a lot of these, a skills aren't easily replicated at home because the skills of been eroded because of decades of offshore. right. you mentioned that the central bank seems willing to back stop any risk

you can see, at ciattarelli headquarters in bridgewater, new jersey, the party is over.aking stuff down. but the election is not. about an hour or so ago, jack ciattarelli came out and told his supporters to hang on, that votes are still coming in. every time it's gone too far off track, the people of this state, have pushed, pulled and prodded it right back to where it needs to be. real soop, we'll do this again. >> the fact they were here having that conversation is an absolutely huge blow to phil murphy. the republicans here at this event, they felt good about their guy. they felt good about this campaign. but nobody thought it was going to be a night as good as it looks like it might be here in bridgewater, new jersey. don? >> ciattarelli and murphy saying, let's count every vote. want to get to m.j. lee, at phil murphy's headquarters in asbury park, new jersey. this is not how murphy's team thought it would go down, right? >> that's right, don. the murphy team is not trying to sugar-coat the fact that this is not the evening they had hoped for. this is a tougher nig

one thing i am looking closely at, research from bridgewater, can we really call this a supply-side drivenber, or is it actually demand driven? in that case it would paint a different picture about how much worse it might get. matt: it is definitely demand driven or supply constrained. supply is not driving it, it is lack there of that is the problem. it is more that than the demand side. there is not much the fed can do about it. even if they want to raise rates to kill demand, that is not good for the economy. when the surgeon says the surgery was a success but the patient is dead, you do not want that. there is not much the fed can do to ease supply constraints and they do not want pullback on demand. amanda: at some point we might have to see that. we have yet to see a full return to services demand. the data looks scary. at some point, the fed will have to look more closely at this than they have. matt: the 1970's was a great decade for classic rock. time for our stock of the hour. it has been a long road back from walt disney. revenues are expected to be the best in seven quarters wh

>> no, we really haven't. >> you have looked at the demographics of even bridgewater and the area.e border brockton which is predominantly minorities which are the majorities now. how do you reach out to say that their welcome. i mean, their welcome. how do you make them feel that their welcome. here, i think we make them feel welcome. but how do you do that. yeah, that is a good question. i'll have to think about that. it is the same question as why we live right next to brockton and we don't have a larger population of blacks. i live in the town of kingston and there is not a large population in the town of kingston. the high school is the fourth or fifth least diversified high school with 1500 kids in it. i mean, there are a few families, but why, yet you go into brockton or new bedford, you find a community, because those minorities feel more comfortable there, you know? i don't know. i don't have the answers. ♪♪ [ singing ] >> at the end they say shadow beneath our hand, may we ever tand, true to our god, true to our native land. to you guys were tricky, by native land, what a

bridgewater associates is said to be seeking to raise $470 million for a third private fund in china.ing is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. ♪ >> today we don't provide most of our services in china. i don't see that changing. there are areas where there are opportunities for us to work together. >> there's a lot of pressure for us to do certain things differently. there's a possibility. we think about this with the 30 year perspective, not with the next couple of years perspective. we are long-term committed. >> they need to take time to understand each other. there are disconnects right now. i think biden is trying to engage more but there is still some disconnects. haidi: bloomberg's new economy forum

tom: rebecca patterson a week ago with bridgewater, smartest single line i have heard. it is a demand shock. demand is booming. jonathan: yes, demand is good. anna han joins us now. frame the view at wells for us. anna: what is really giving us confidence for our price targets the next few months, look at how three q earnings have been coming in. as much is all we hear about a supply chain issues, labor costs going up, later of shortages -- labor shortages, margins have been growing overall for the s&p 500 companies. that is telling us that this earnings growth has been robust, and it is partly because, like you were talking about before, demand has been booming. it is helping us and our prospects going into year end. but like you said, for 2022, we will see tapering start to finish around midyear. then you start to see rumors about rate hike being priced in, and that is the kind of environment where we are shifting from this more midcycle to light cycle. tom: your spx call, maybe we will overshoot 5000, which would be remarkable. on the way up, adults are going to come

names forward that would not have necessarily been -- just this week, david mccormick, the ceo of bridgewater, his name in pennsylvania sent against sean parnell, the most trump he of trump he candidates. there influenced by youngkin victory. he is out of the youngkin mold. >> i think it was locked that he didn't have a temper tantrum and insert himself. he tried. they kept saying he was going to have this town hall, invitation only. if a tree falls, did it really happen? >> that's a very interesting point about trump. a number of people have used, isn't odd he hasn't come out and slammed youngkin, particularly when youngkin was denying him publicly. youngkin played the judas role perfectly. he just rolled the sap suckers up into one character. trump was ok with that. i think i know why. for trump, he can suffer those outrageous assault on his person , it begot the wind -- begot the win, in a race like that, and state like virginia, it sets him up perfectly going in. if all the others fall in line, he gets the bragging rights, we sought within hours, taking credit and saying my voters got you

we're live in bridgewater with more. >> reporter: good morning, kate. i know you've heard this before. you'll hear it again. what this comes down to in new jersey is turnout and numbers. the numbers are basically on governor murphy's side when you look at the lay of the land here. the number of registered democrats in the state outnumber the number of registered republicans by more than 1 million people. murphy basically said it best over the weekend. he said, look, the numbers are on our side. he said our team is bigger. of course that means if his team shows up here at the polls. but if they don't, he basically called this a coin toss, and basically, jack ciattarelli is basically bet that this race is, in fact, a coin toss, and he is basically doing all that he can to tie murphy to biden in every way that he can. the reason for that is he's hoping biden's slipping poll numbers is basically going to suppress all of those people who are out there, possibly democrats, maybe they won't show up at the polls. maybe more independents will show up at the poll

. >> thank you so much from bridgewater. ashley koenig, director for eagleton center for public polling at rutgers university. thanks for being with us. start with numbers that jason laid up with 1 million registered voter advantage for democrats. for a republican to win, they have to energize the republicans, sway the independents, and has to be depressed democratic turnout. is there any indication thus far even anecdotally that that is happening? >> in the early voting, we see high number is for democrats, outnumbering, a third already voted among all voters as those that voted in 2017. chitareli can't win on the party alone. that's how republicans won in the past, playing that middle of the road moderate republicanism card. >> it sounds like voters in new jersey are motivated differently than voters we heard from in virginia, so what do you think are the top issues driving people today? >> we actually polled this. it is opposition and party loyalty and allegiance. it is not the candidates, it is reaction against the oppon

i think the broncos have a quarterback >> harold: his name is teddy bridgewater. >> dana: but they gotthat. i don't want anybody to be hurt by the woke mob. i just don't. i do mire -- i want to mention state farm. i'm glad that they came out and said, no, this is not happening. because you cannot really be the home grown clad every man person and then basically saying that aaron rodgers and this whole thing is the reason that you're going to dump him. i think that they would have lost -- they're not going to lose customers over not dumping him but they might have lost customers over dumping him. >> yeah. >> dana: so i think they made a good decision there and as companies think about how do we deal with this coming up, because you now have the osha rule trying to force this down people's throats, some of these companies and they don't want to do it. i'm for vaccines. i think it makes sense for a lot of people but i think you make a really good point and especially about him knowing himself and he has allergies and he doesn't want to do it but if you follow the protocol for whatever com

john, bridgewater, new jersey, that's a nailbiter.aller: i tell you, i'm republican all the way from nixon. i think we will lose a close one because of the votes coming in from certain counties. host: yes, essex and trenton are still not counted? caller: yeah, we are dead, we are dead. however, it was close. virginia i think is the pivot to end all this nonsense about, again, you know, wokeism, tear down statues, that kind of thing has helped the republicans. again, i'm hoping that we are going to win the midterms. it was a good time, a good night. i didn't expect it to be this close. i'm very happy about virginia and new jersey. even if we lose, which we will, i think it sends a message. host: was your vote anti-phil murphy or pro jack yungkin -- jack ciattarelli or both? caller: i totally never vote for democrats. they are dangerous. very quickly, they want to take away little local zoning ability of of localities. that's their biggest goal. take away our ability to zone our houses the way we want to. they hate local control. host:

. >>> up next bridgewater director of investment research on the summit between president xi and presidentng could affect the big chinese internet companies when "closing bell" comes right back. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones [energetic music throughout] what's strong with me? i'm so glad we did this. i'm ready for anything. find out what's strong with you with fitbit charge 5 and daily readiness. >>> we want to take you straight to washington, d.c. where president biden is about to sign the bipartisan infrastructure bill into law more than $1 trillion let's listen in. >> great speech. >> we were wondering when you were going to stop. >> i know what you mean. i did stop folks, i'm going to get you each a pen but there's 30 of you up here >> vice president, please. >> thank you >> all right >> okay. here we go >> yeah. [ applause ] >> bravo >> thank you, thank you, thank you. >> good job.

. >> mary kerrigan-mares says that since he had to speak to bridgewater was corrected, he had months he used the evidence to fit the narrative of his story? to make him look good? >> it certainly seemed as if this was a story that was created after the fact. >> and the prosecutors had a game plan of their own. show the jury that bridges story was nothing more than a hail mary to cover up a vicious crime. they told the jury about burch dna found on 16 different points on nikki's body. and on the murder weapon. it also showed the tracking data from his phone that put him in all the location where nikki was that night, including the place where her body was dumped. >> one thing that seems hard to explain is burch's motive. >> he attempted to have sexual intercourse, she did not want to have sex with, him she fought, and she struggled. obviously she got into the wrong car with a very violent individual, and something horrific happened to her. >> and d.c. had a very interesting card to play. linda jackson, with burch's friends. the couple who had taken him in. they had testified for the p

bridgewater didn't respond on a comment on that report markets now. join us with that.ner good morning to both of you. boy do these retail numbers move all that would show is can it continue >> we are looking at a pretty healthy market going forward the key is looking at the consumer spending. looking at how we finish out the end of the year. consumer confidence numbers were low. that is contradicted by the data i think consumers are closing out with a strong year inflation. we don't care anymore about that in the past two years. what happened? >> i think we cared a little less at the end of the day, this is going to abate maybe the back of this quarter and as we enter the winter heating months in the northern hemisphere we'll drive the byproduct prices, fertilizer and things like that. i look for wage inflation to continue we created five times as many jobs as workers entering the workforce we've hit that 6% i was expecting short of that early battle of the debt ceiling in early september >> people talk about things like the pandemic stocks. where do you put your money

in bridgewater, new jersey, let's go to talk to john here at the magic wall. ways to go yet, both campaigns are telling the truth in the sense that republicans are looking at this map saying, hey, we're doing better than the republicans did four years ago. they are looking at places like this. this is hudson county, jersey city. only at 40% of the vote. look at the margins. if that stays up, that's more for the democrats. essex county, which is newark. again, less than 20% of the vote in. murphy up. so just think, okay, if you multiply somewhere, stay in that margin and more votes come in and the democrats have a big lead like that, more votes coming nor the democrats. the murphy campaign said, let's wait. let's cut more votes. you are looking up here, the largest county in the state. 13% of the vote in. and you are in the lead right now in a county that four years ago went for the incumbent governor at almost 57%. 57% if you round it up. again, we're only at 13% of the vote. so we have to watch. but if you are the republicans, this is the most populus county