brighthouse financial. what's ahead℠ brighthouse financial. we're committed to making college more affordable., that's why we're keeping our tuition the same through the year 2021. - [student] i knew snhu was the place for me when i saw how affordable it was. - [narrator] find your degree at snhu.edu. closer look when some companies list cash on their balance sheets leslie picker explains >> yes, much of what is listed as cash is not cash at all corporations are holding nearly $400 billion worth of bonds issued by other companies. the researchers poured through the footnotes of fcc filings to find that a large portion of corporate america is running mini bond portfolios apple being known for being cash rich, but they had about $280 billion in cash but 14% of that was cash or cash like securities 42% was tied up in corporate bonds and billions in things like mortgage backed securities. the other top holders include microsoft, apple, cisco, and a trt at&t the researchers say there is little transparency over

brighthouse financial. build for what's ahead℠ brighthouse financial. find your get-up-and-go.d pants that aren't sweats. find your friends. find your sense of wander. find the world is new, again. at chevy we'd like to take you there. now during the chevy open road sales event, get up to 15% of msrp cash back on select 2020 models. that's over fifty-seven hundred dollars cash back on this equinox. it's time to find new roads, again. >> liz: bring on the quarantines, if this pandemic has been good for anything it's alcohol sales despite restaurants, bars and stadium closed or restricted during the lockdowns many states have reported that from the start of those lockdown, beer, wine, liquor, been flying off the store shelves in north carolina alone sales up 12% in the spring and summer, to a new record of $1.37 billion. problem is, not all alcohol producers are benefiting. craft distillers expected to see 2020 revenue fall more than 40%. how are the little guys staying afloat? christina partsinevelos live in the kings county distiller in brooklyn christina how are they doing it?

brighthouse financial. for what's ahead℠ brighthouse financial. we're committed to making college more affordable., that's why we're keeping our tuition the same through the year 2021. - [student] i knew snhu was the place for me when i saw how affordable it was. - [narrator] find your degree at snhu.edu. >>> still no fans in arenas or stadiums as professional sports moves forward with the new normal post covid. although both the miami dolphins and university of miami indicate they'll try with limited capacity this fall our next guest, joining us now is casey wasserman, ceo of wasserman. thank you for talking to us today. i know you represent a wide range of players, dozens of nba, mlb as well as nfl players and i know each of them is different, but can you give me an overall sense about how they feel about their health and safety and whether they feel comfortable returning to play? >> i think for the most part they feel incredibly comfortable. the leagues have all done a great job. obviously there have bee

brighthouse financial. build for what's ahead℠ brighthouse financial.on pagenaud takes the lead at the indy 500! coming to the green flag, racing at daytona. they're off... in the kentucky derby. rory mcllroy is a two time champion at east lake. he scores! stanley cup champions! touchdown! only mahomes. the big events are back and xfinity is your home for the return of live sports. liz: how about this. short video platform tiktok, your teenager's favorite app, is giving its creators cash. we are talking about people who post all the hot videos. giving them cash as a way to encourage user growth as the company faces continuing uncertainty about its future in the united states because it's chinese-owned. charlie, you have breaking news on the latest tiktok drama? charlie: yes. sources tell me that i downloaded tiktok finally, finally downloaded it. now i know exactly what i'm reporting on. liz: five years later. charlie: by the way, if you are on tiktok, kellyanne conway's daughter has some pretty wild stuff on tiktok if you go on there. liz: okay. charli

brighthouse financial.uild for what's ahead℠ come on in, we're open. ♪ all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪ weit's totally not theg a way tsame without you.. we're finally back and can't wait until you are too. universal orlando resort. buy now and get two days free at the parks. restrictions apply. . >>> all right. welcome back to power lunch. the dow going positive for the year believe it or not, despite that, two-thirds of the index are lower on the year. some like boeing are down 40%. some of the hardest hit names in thered for this year, we mentioned boeing exxon will be booted out on monday can any of those rr maybe other dow names help you play catch up or make some coin this year. your trading nation team this year is craig johnson and gina sanchez. feels like old times glad to see you both gina, any of those dogs of dow that you think are worth adopting >> it depend ons ts on the re

brighthouse financial. build for what's ahead℠ bbut what if you could stdo better than that?k.t. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. charles: president trump blasting democrats say they are the ones holding up any additional aid coming to the american public affected by coronavirus, edward lawrence is in washington with the very latest and it keeps shifting. >> exactly, the line keeps moving a little bit from democrats and the republicans trying to get this done, there at a stalemate, where is the president right now, he is on his way to bedminster new jersey, he has a speech later on tonight, he will visit his brother in york hospital, he is reportedly very ill, the president in the last hour has touted how his administration is replenishing the national strat

brighthouse financial.ng news, the galapagos islands off the coast of ecuador are one of the planet's true treasures. and a number of ships within a massive chinese fishing fleet near those precious galapagos islands are sending out false signals about their locations, misidentifying their location, some of the fleet turning off their gps systems to avoid detection. ecuador's navy says that fleet is now made up of 340 commercial fishing vessels. china's military becoming increasingly aggressive amid talks in taipei today between health and human services secretary alex azar and the president of taiwan. azar leading a delegation ordered there by president trump, and chinese fighter jets today briefly crossed into taiwanese air pace as they frequently do. satellite images also reportedly show china's pla deploying amphibious with armoredded vehicles and mobile missile launches in, near the south china sea. joining us tonight is dr. michael pillsbury, director of the center for chinese strategy at the hudson i

brighthouse financial. build for what's ahead℠ and then found the home of my dreams. my home of my dreams needed some work sofi was the first lender that even offered a personal loan. i didn't even know that was an option. the personal loan let us renovate our single family house into a multi-unit home. and i get to live in this beautiful house with this beautiful kitchen and it's all thanks to sofi. cheryl: capital one announcing that it is lowering borrowing limits on its credit cards as talks over unemployment aid hit a stalemate. the company said it makes these type of adjustments from time to time. while the cuts sparked an outcry among users, how worrisome is this cut to the rest of us and can we expect this to happen at other banks? i want to bring in our traders, tim anderson and phil flynn. tim, how soon before you think the markets get hit by this? this is consumer spending. this is two-thirds of the u.s. economy. can we ride this out? >> well, look, i think the key thing is are other banks going to make some of the same actions that capital one announced. l

brighthouse financial.es: this election president trump has to convince the american public that is handling of covid-19 saved lives and that he is the man to get us through the crisis to the virus crisis and bring back the economic momentum and prosperity that we were, and now there's no doubt america was on a role with strong job creation, that resulted in blue collar wages, out pacing overall wages, and inflation for the first time in a decade. we saw spikes in entrepreneurship and innovation was reassure wake ened with the spike in approvals there was also the housing boom which continues to go even with the virus, existing home sales this morning, hitting an all-time high, those prices rather even adjusted by the way for inflation. it was a great three years but are americans going to let trump pick up one more time? i want to bring in host of reality show on fox nation david webb. david? president trump can show a chart of just about any economic metric from the time he took office until february of t

brighthouse financial. >>> give you a check on some of this afternoon's biggest movers. salesforce is the headliner. it was a huge 29% top line growth, strong outlook for the year, this on top of what was already a 3.6% gain during the regular session because the stock is going to be added to the dow 30 by the way, we have hewlett-packard there. ceo saying 50% of employees may never return to the office that's something sarah and i have a little bit of trouble accepting. nordstrom sales fell 54% of course, retail has been so tough. stock is down. toll brothers, a beat with a record level of signed contracts. by the way, don't miss an important earnings interview marc beni ooff is going to join jim cramer at 6:30 p.m. eastern. we'll be right back. >> we're back. >> please go ahead, sarah. >> i was just going to reflect on the action that we saw today, which was another strong close and pretty strong session. we rebounded from some earlier losses the market clearly wants to go higher it's being driven by some

brighthouse financial.ahead℠ >>> home builder stocks outperforming the broader market after a record increase in builder confidence the we have the details. >> hi. builder confidence in august matched the record high set back in 1998. builders saw strong demand from buyers taking advantage of record low mortgage rates. the survey from the national association of home builders saw a strang index in buyer traffic. up to the highest level in the 35-year history. there is big gains in current sales conditions as well as sales expectation officials the next six months. the only red flag, the cost of lumber has nearly doubled since the pandemic hit mills initially shut down and then reopened to much stronger demand than they expected. that added about $14,000 to the average single family home price. builders said that could dampen momentum going into the fall builders continue to point to a flight to the suburbs and excerpts as they seek more space in this new stay at home world >> all right diana from just down

brighthouse financial.ile exit at wells fargo, the financial times reporting that the bank's chief compliance officer is leaving the lender after two years in the role this is one of the last high profile hires made and obviously another change in leadership whether this was by choice or by force with the new ceo, we're not sure so many changes, we keep mentioning them. he's been in the job for one year coming up in october. we'll be well and truly into the point where it gets harder to blame past management, past decisions for the issues that you're under even if things like a fed asset cap were imposed once you've been in a job for a full year and you've made all these changes, you've got to start taking responsibility and stop blaming and pointing the finger backward. >> that's a fair point it's surprising to hear he's been in the job one year it seems as if it's been in the mode of assembling the team and sorting out priorities a lot's happened since he took the job that was outside of anybody's control

brighthouse financial.uild for what's ahead℠ for as little as $5, now anyone can own companies in the s&p 500, even if their shares cost more. at $5 a slice, you could own ten companies for $50 instead of paying thousands. all commission free online. schwab stock slices: an easy way to start investing or to give the gift of stock ownership. schwab. own your tomorrow. >>> contessa brewer reports with more on that story >> hi. interactive corporate announced a billion dollar, 12% stake in mgm. investment in the stock. iac says it likes how mgm has embraced the online opportunities going asset light to invest in digital platforms and mgm chairman paul salem told me today, sports betting will be massive. iac has run more online commerce business than we ever have in fact, they may have forgotten more about e-commerce than what we know f i were asked who could you pick that would help your company the most i would have picked barry diller well, to that end, mgm is inviting iac to joint board of directors. mgm st

brighthouse financial. build for what's ahead℠ bbut what if you could stdo better than that?k.ays. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. dagen: time for the morning buzz. first up, a wild pitch sparks a bench-clearing brawl at the astros, a's game yesterday. it started when the center fielder was hit by a pitch for the second time. watch it. boom. that would make me mad too. oakland won the game, 7-2. brian, what about social distancing? the covid outbreak is a huge problem in baseball as they're trying to finish this asterisk season. brian: this is a huge problem for major league baseball and loriano gets hit twice, the second is a curve ball. he probably doesn't react. then the astros bench starts goating him on and he charges and you get the brawl. it makes no sense. he will probably get a 1

brighthouse financial.rain, traded goods. even shells represented value. then currency came along. they made it out of copper, gold, silver, wampum. soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. that's why it's time for digital currency and your investment in the grayscale funds. go digital. go grayscale. maria: welcome back. a presidential war of words, former president barack obama pulling no punches last night during his speech at the democratic national convention. >> i have sat in the oval office with both of the men who are running for president. i never expected that my successor would embrace my vision or continue my policies. i did hope for the sake of our country that donald trump might show some interest in taking the job seriously. donald trump hasn't grown into the job because he can't. and the consequences of that failure are severe. maria: president trump mean

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brighthouse financial. build for what's ahead℠ >>> market come back complete.e higher right now. point northrop grumman gains after the s&p 500 surpassing it's prepandemic record. it's official now. believe it or not, we're in a new bull market. >>> another huge morning for retail numbers target and lowe's absolutely blowing past analyst expectation in the second quarter as americans either hunker down at home or they went to about five stores that were open and those five benefiting. >>> could there be some light at the end of the tunnel of a new stimulus package some members of congress are pushing for a vote as soon as this weekend final hour of "squawk box" begins right now. >>> good morning, welcome back to "squawk box" here on cnbc i'm with joe kernen along with becky quick and brian sullivan who got to sleep in today. andrew is off today. u.s. equity futures are indicated up a little bit almost 50 points after yesterday. s&p 500 completed its historic come back as you just heard brian talking about. erasing all of the coronavirus viruses and hitting intr