will continue to operate as normal, but buffett and dimon wants washington to address the issues buffett does an agree with everything washington is doing right now. he made the comment that congress can only screw this up or the administration can screw it up if you push too hard he thinks sounder people will prevail in all of this because you ccan screw it up along the way. i don't think there is anybody who says you need to address the debt. >> warren buffett is saying i'm doing the same thing this week as i did last week and same thing next week. joe manchin is saying here is a chance to do something different. that is the action. >> i think buffett would applaud what joe manchin is saying here. let's take this seriously. >>> when we come back, it is a busy morning for earnings. central banks and economic data. we get you ready for the trading day ahead. that is next. >>> tomorrow, we have an exclusive interview with steve schwarzman you are watching "squawk box" and this is cnbc >> announcer: this cnbc program is sponsored by truist securities have fun, sis! ( ♪♪ ) ( ♪♪ ) can't stop

he does agree with fitch at a time we hear buffett and others disagree >> interesting to see the market reaction today and the attempt to rally down negative by only 30 points. obviously a lot could change after the bell when we get the apple, amazon, airbnb. dom chu in for the judge again let's get to post 9. >>> thanks so much, carl and julia. welcome to "the halftime report." i am dom chu in for scott wapner front and center this hour, the $4 trillion test for the market. that is what is on the line as we await key earnings from apple and amazon could those reports turn the tide for that tech trade for the hour at post 9 josh brown, brenda vingiella, jim lebenthal and bill baruch. a check on the markets right now. as we just pointed out to you the nasdaq is dticking ever so slightly in the green. down just a tenth of 1% in the s&p, 4504 was the last trade there. this is an interesting move only because there might have been folks who believe it could have been the precipitating factor for something much worse, even so today josh, it didn't look like it was going to be massively down

us two-to-three years to work through this of >>> and berkshire jumps to $150 billion with warren buffettosting a 7% rise with chevron paying off for the oracle of omaha. >>> very warm welcome to "street signs" and special because it is the first time in over a month we're back together. >> we calculated it. five weeks we haven't done the show together. >> i missed you. i missed the show. >> it feels good >> with that, i guess we should talk about aramco. >> a hard pivot. let's get to it. the earnings do continue to roll in this time from aramco with 40% plunge in second quarter net profits with low oil prices with refining and chemical margins. dan has been pouring through the numbers. dan joins us now dan, it looks as aramco weathered the period better than the western peers. >> reporter: you are right great to see you both back together welcome back to your own program. thanks for having me we have looked through the earnings and the ceo sounding upbeat on the outlook here we have seen aramco beating expectations in the second quarter modestly despite the 40% decline in net income. we

plus, what warren buffett is buying. we'll bring you the latest 13 f filings as hedge funds look to gain from the hype over artificial intelligence. well, good morning. welcome to tuesday. and it's actually a busy one despite it being august. you've got traders betting that the fed is going to keep rates higher for longer. and if you look at the impact on yield as well, they have been steadying. but you had seen the ten year yield climb to its highest since november and the two year yield, which of course is more sensitive to monetary policy, advanced for a fourth day yesterday towards 5%. ten year real yields were at a 14 year high. now, that spurred gains on the dollar against some of its major peers, but also against emerging market currencies. it really has been an ugly day for them and the pain seems to be everywhere, especially for the argentine peso, which has also devalued its currency by 18% and hiked rates by 20 pips. now the question is how will the pain persist? we should get more clues on the future path for

horton after a boost from warren buffett with the positions into those companies. moves adding to a rally in home builders with all three names up so far this year. >>> and the hollywood studiostes concessions on the a.i. and the viewership numbers as well. >>> looking at the markets overall, we saw a bounceback for the nasdaq we are trying to see what is happening as we keep a close eye on the 50-day moving average you see we bumped up against it with yesterday's session we are above the longer term 200-day trend line something to keep an eye on. with regard to the volatility, stock marketvi volatility is at 15 if you look at the longer-term trend line, 200-day average on the rolling basis is close tr to 19 we will see whether or not that plays into the positioning that traders have right now let's bring in kevin simpson chief investment officer at capital wealth management. kevin, is there anything concerning to you about the setup for traders and investors? 12k . >> i'm always concerned, dom from the trading perspective and option perspective, it is a lamb sleep

and sue, this is an oil company that warren buffett has a stake in. yeah, warren buffett has been a big fan of oxy and particularly its leadership by ceo vicki hollub. and he's been buying shares throughout 2023. so that adds extra attention to this story. but oxy buying canadian carbon capture startup carbon engineering is also a big story because they want to expand their leadership position in removing carbon dioxide directly from the atmosphere. as mentioned, this is a 1.1 billion all cash deal expected to close by the end of the year. now, the two companies have been working together in partnership for the past four years on oxy west texas stratus project that's set to be the world's largest direct air capture plant by 2025. dac is the buzz word and it is the way it's described. and what it really means is pulling carbon dioxide directly out of the atmosphere. and my colleague kevin crowley in houston says it's kind of like oxy is now jumping ahead to carbon capture 2.0, where many of the rivals are doing carbon capture 1.0, pulling carbon dioxid

we know buffett continues to buy treasuries.k another $10 million plus treasuries this week in spite of the downgrade. haidi: what is berkshire's positioning in terms of investment going into the second half? >> it has become a net seller of equities and its holding of apple which has expanded also helped to the $10 billion in operating profit. apple is up this year. this quarter it sold 12.6 billion dollars and bought 4.6. to the tune of $8 billion. that is the theme throughout the year. last year berkshire had bought $34 billion worth of stocks. this year it's already sold more than 18 billion stocks. so positioning cautiously. it is buying back less than it was. this quarter it bought back $1.4 billion of its own stock, down from 5.8 billion dollars in q1. elevated valuations, another reason it is finding more acquisitions. haidi: bloomberg's vonnie quinn. let's look at some other corporate stories we're tracking. saudi arabia's sovereign wealth fund has reported a $15.6 billion loss for 2022 after the value of investments an

but they seem to make it work and this is in spite of warren buffett having guided lower in may saying be trouble in the units. areas of strength included insurance which was unexpected but the geico insurance unit posted a 74% increase. geico performing better. it was unprofitable last year but we've seen higher premiums and lower claims as well as a reduction in advertising spending which is positive and negative. in the negative: we saw the railroad unit profit there, falling 24%. there were more headcount and expenses involved. so you can understand how inflation is hurting that segment. in the positive column you had a higher yield from treasuries because we've seen interest rate increases so inflation helping and hurting at the same time. kathleen: i guess that's the way to make it work. let's leave it there. vonnie quinn, thank you. coming up a check on how oil markets are doing after opec-plus reaffirmed its oil supply policy. more on the coalitions latest move, coming up next. this is bloomberg. ♪ sleepovers just aren't what they used to be. a house full of screens? basically

not one that warren buffett recently bought. buffett has loaded up on the homebuilder.te for a lot of reasons. first of all it is in housing. we think there is permanent, almost permanent shortage in this market. the main reason warren buffett has talked about. people can't, aren't selling their current homes because of the mortgage rates are so low and most homes by the way are owned by boomers. so you know, pulte is a great executor and wonderful targets for people who need hopes, particularly young folks. we've done really, really well with that stock and we like it. [closing bell rings] liz: congratulations on that one. thank you very much. michael, thank you very much. dow couldn't quite do it, down 35 points. nasdaq on the way to the best day since july 28th. that will do it for us. ♪. larry: hello, folks, wealth come to "kudlow," i'm larry kudlow. last week the biden white house bigwig john podesta fests up all the inflation reduction act was really about climate change, not inflation. the cost of that acted by the way has be

there is a buy in here, and you're following warren buffett.berkshire and the home builders -- let's lay it out. buffet bought more than $700 of dr horton and other home buyers. listen, i'm not going to say this, but the time to buy them was a year ago when they were trading at 3 x. but that's not the say -- listen, they bought apple and crushed it. so why is now a good time to be a buyer of dr horton? >> we were talking about it last summer, but i can't believe that trade worked out. i was not early. we've got 30% of all new -- or all home sales coming from new construction. that's over twice the historical norm. nobody wants to lose their 3.5% mortgage. that's not what is going on. what's going on is the ratio of adult children living at home is plummeting right now. that's not a covid thing, it's that millennials were staying in school longer. they were staying at home longer. but eventually they get married, have kids and become parents. so the reason dr horton versus the other group, if you're going to go in now on a big secular move going

so when buffett starts to pile up cash, you know he thinks there are going to be some deals to be had consumers are running out of money and with the increasing in prices and the rising interest rates, households are going to be pulling back, and that's going to create a recession sooner rather than layer. elizabeth: thanks for joining us. coming up, congresswoman nicole malliotakis, carol roth, john lonski, and homeland security's new warning, mexican cartels are now involved in every level of organized retail crime and retail theft across the u.s. this is thanks to biden's border crises. plus, just ahead former deputy assistant attorney general tom dupree. we're taking on this new bombshell, the national archives admits it does have nearly 5400 e-mails and records of then-vice president biden using fake names, fake aliases, pseudonyms. gop lawmakers want to know did biden use them, all of this, to give government inside information to hunter biden for profits for the biden family? that's next on "the the evening edit." ♪ >> how involved were you in your son's chinese shakedown text

what's interesting to me is that other big players, warren buffett in particular, has been selling a months. hoarding cash. if there were to be a downturn in the market, you would want to have cash because you would come in and scoop up stocks on the cheap. so there are some big players considering that the market is overvalued and historically speaking it is overvalued. >> i think that's a great point about buffett. he also waits to make big purchases until they're priced, what he thinks, is adequate. you don't just watch him selling but what he's not doing which is buying. >> he's the oracle of omaha for a reason. >> if you could explain it to people, this could just be insurance, too. >> a lot of his positions are long, so he bets on certain companies that he thinks are undervalued. >> what does it mean when you're long on something? >> you buy it and you hold it. he could just be hedging. he could have some insurance. basically he's going to win either way. if the market goes down, he will profit from his put options. if the market goes up, he will profit from his long positions.

charles: someone buying in the last 3:00 months is warren buffett.n 150 billion but put50 million to work in the homebuilders. >> right. charles: last time i remember you being in toll brothers? >> yep. charles: and pulte? >> yes. charles: you still in those. >> pulte is one of my favorites. charles: did buffett call you before? >> no, not yet. i'm open to his call. but, look, i like pulte and over some of the others like d.r. horton and lennar just because of valuations. they're trading at a 20% discount a little cheaper and safer bets. charles: i used to be heavy in toll home builders like toll because they're in high-end. >> more about the valuation because we're in this risk-off environment and people want to play it safe. yes, single-family home, if you're in the single-family home area that is definitely a benefit. charles: we're in a defense sieve posture now. you have some defensive ideas for us. >> again there is short term. we're saying one to two months. but energy stocks, this is one of your energy etfs. they trade very closely so there i

. >> warren buffett, your yeah, what about my? if he can be turned into a chat gpt character like we're talking yesterday with james pay money to talk to buffett because he's not last of planet forever world. it advice come out business because i know how it comes out. the like in the world. i some things people shouldn't worry about. this is tne of them in a place like life. the fitch downgrade of debt in the united states. he still says the u.s. dollars where the place to be. >> he says this isn't an economic endorsement of negativity in any way, shape or form. it was a big headline this week and we're starting to move past it yesterday. marco's down big day. it's down just a little bit. when i find myself in times of trouble. i don't listen john lennon. i was warren buffett, but the truth the 10 year treasuries. it's a 4.1%. and i've been saying for 25 years, daria, i've said it once. i've said it a million times exact rate. but more importantly, i said it's tough to investments of 4.1% because i'd rather put my money somewhere

warren buffett could to it in omaha. you know that there's there's plenty of resources available. it's the issue is how the resources are distribute it. and so the second piece is, you know, how do we how do we go about that? you know, i think some people, you know, would reasonably say like, oh, well you know, larry page isn't going to just you give all that up. clearly that hasn't hasn't happened. and i think the way i think about this is. that it's less about yeah, it's less about trying to convince everybody or even majority that if if there's even a small of of folks who step out, you know, and in many ways, like me, writing this book is an attempt to step out in that way. and take some risks that if if people with power and advantage are willing to go out on a limb, take some risks, ruffle some feathers, even a few of them, it can it help to shift culture in this country and, help make those transformative policy change as possible. so what do you think about the fact that warren buffett and bill gates and a whole collaborative of, rich white men have said, they're going to

byd is the biggest china auto brand and counts warren buffett as the biggest investor. >>> coming upn "worldwide exchange," the one word that every investor needs to know today. plus, the key piece of economic data that jenny harrington is watching today and what it means rer the equity outlook. mo "worldwide exchange" coming up after this. 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 ♪ ("please don't go" by harry casey, richard raymond finch ) ♪ (ping) ( ♪ ♪ ) ♪ please don't go ♪ ♪ please don't go ♪ ♪ please don't go ♪ ♪ please don't go ♪ ♪ don't goooooo! ♪ ( ♪ ♪ ) ♪ don't go away ♪ ( ♪ ♪ ) ♪ please don't go ♪ >>> welcome back to "worldwide exchange." time for the "w

>> first, i am no warren buffett. i'm a tv guy who tries to do his best to teach you. but, i thank you for that. here is what i have to say. i think it depends on your time and predilection. you put away your first 10,000 in an index fund, if you like picking stocks, but stood together. join the cnbc investment club. if you don't like picking stocks, let someone else do it for you but if you want to be involved, i will teach you to be a good investor. let's go to ann in indiana. i am a club member, but i've been thinking about this lately, and i wondered if you could talk more about suspending our judgment and letting the market take a stock up even when a ceo does something they said they are not going to do, or a company makes a bunch of mistakes, but they have very little competition, or a ceo makes big mistakes that seem to take a long time to fix. >> well, this is a tough one. i have made this mistake. i have stuck with people for two -- too long. in almost every case it hasn't worked. whether you are an amateur or professional, do your homework and keep your port

he said that the case file was also linked to them to you as mobile, warren buffett in his closing statement. and i found you once again describe the trial against him as unjust. doesn't stand for pocket reporting from 3 of the thank you very much. archaeologists have rushed soon opened corey, and serbia of mine is that made an extraordinary discovery. they on us the hall of an ancient roman ship, while mining colette, besides what was once a roman city. the 13 meet the vessel dates back nearly 2000 to 2. when the area was a roman prophets believed to be a river ship that linked to local city with the port on the danube river archaeologist say the ship will be headed to a museum and believe more attractions to be found nearby. you're watching the videos. here's a reminder of our top story, a training into intelligence sources say a russian warship has been damaged in a drone attempt on russia's black sea naval dice in nevada, says francis, the russian vessel was seriously damaged. russia's defense ministry and fis via prime in attack was with details and did not submit to any damage to the s

. >>> and higher interest rates and surging stocks helping warren buffett and berkshire hathaway in a big way. and later in the show, a live stream update on the musk and zuckerberg cage match. it is monday, august 7th you are watching "worldwide exchange" here on cnbc >>> good morning welcome to "worldwide exchange." i'm frank holland. let's get you ready for the day. we kick it off with the u.s. stock futures. green across the board nasdaq doing the best up .30%. at this hour, the dow would open up 70 points higher. this is after the poor showing last week with the s&p and nasdaq coming off four straight days of losses and the worst week since march 10th. you see the nasdaq down 3% s&p almost by 2.5% it was rough for the tech sector the sector coming off three straight days of losses. the sharp decline down 1.5%. excuse me. 4.25%. the fitch downgrade is playing a factor it was dragged down by apple which had its worst week since 2023 we had a very busy week for fixed income and new long-term issuance yields here with the 10-year treasury at 4.09 yields back above 4% since that fitch

lauren: warren buffett, his berkshire hathaway cut its stakes by 22 million shares.his holding about a decade and gm has not grown its share price much and berkshire bought around 33 a share and now at 30. they've had the stock for a decade and not very profitable for them. stuart: discover, is the ceo out 124 lauren: it's been a rough ride for the online bank and last month they disclosed a regulatory review for incorrectly classified credit card accounts dating back to 200 and now the ceo is gone. double ouch. stuart: grinder, lgbtq dating site. lauren: good job. the stock is up 20%. really strong demand for weekly subscriptions and they raised their full year forecast as a result. i correct myself, it's up 11.7%. it had been up 20. stuart: thanks, lauren. lauren: yep. stuart: some streams offering up to 6 figures to fill artificial intelligence jobs. come back in again. i need to know which companies are doing this? lauren: say almost seven figures. start with netflixs and a product manager for machine learning position that makes up to $900,000 a year and don't e

. >> i am cautiously optimistic that buffett's engineering a soft landing.mployment is really strong, hard to hire good people. everyone that want the job, that is good at what they do, has a job right now. that the strength of the economy inflation numbers, we have a relatively good recipe for success as we head into q 4 and i'm cautiously optimistic the market will trip up a little bit between now and where we exit in 2023. neil: in other words, we have our bumps but end up with a positive year as we are right now. will trade a little higher. you will see q3 earnings trend upward and price to the upside. neil: appreciate it. big backer of ron desantis, the governor. we will explore more of these markets at the holdup, some bumps along the way and another quarter of earnings that could surprise you to the upside. what do market panelists of that? that is after this. ♪ (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know y

warren buffett bought into home stocks. now is the time to follow his lead.id vaccine demand is fizzling out. now may be the time to buy. elizabeth o'brien. jack, up this week, the 10 year passing. >> a 15 year high. stocks fell for the week. 4.3%, not that high in historical terms. the average is close to 6%. a lot higher than where we were and that has investors nervous. the s&p is competition for stocks. it is not cheap. second-quarter earnings came down 3%. the third quarter will be flat. we will see. next year up 12%. that is not going to happen. a placeholder number that they stick their. closer to the end of the year they will give you the real number. >> who are some of the big winners? >> the big losers, cvs boss 10% on the week. blue shield of california said it was dropping the pharmacy benefits management service in order to save money. apparently blue shield is getting rid of it. tesla had a bad week. a bad month. you can squint and find other concerns, worried about the economy. citizens financial group, a bunch of banks. those banks are facing

. >>> our road map begins with warren buffett telling cnbc he's not worried about the fitch downgrade>>> apple and amazon set to report after the bell tonight. >>> speaking of earnings, we're going to talk to shopify's president this hour on the company's latest quarter after topping some estimates >>> but let's begin with tech as we look ahead to apple and amazon tonight the nasdaq, as we said, worst daily performance since february, jim. are we going to use qualcomm as a read for tonight >> no, qualcomm is just pa theting i. i was disgusted with that quarter. i'm so tired of their hype i'm sorry. i have a negative attitude about them i'm positive about other things. i mean, at the start, once again, they do this thing, it's great, it's great, it's great. and then you get to actually, but you know what, it's bad, and it's weak. it's great, it's great, well, it's bad, it's weak, and this is post auto and handset inventory build-up and, no, i'm making the samsung story, the solutions to apple. but no it is not a tell now, you could say, well, look, maybe apple is coming in too hot. i t

jamie dimond and warren buffett say, don't worry about the fitch downgrade. should we? let's bring in kevin mott point may be the timing is weird. it feels like we are going to shine more light on the deficits and the debt situation. what is the investor application, do you think? >> i think the downgrade by fitch shouldn't have caught everybody by surprise. they were on negative watch for a long time. it followed suit with the downgrade by s&p some 11 years ago. but it is now a split rating. moody still has the u.s. at a aaa rating and a stable rating, as well. i think the implications on debt marketing are that great right now. psychologically, it makes everyone start to question, how strong is this economy right now? if the fed continues to raise interest ratesin the face of it, not only will it make it cost more for the u.s. government to service their debt, but what about the consumer that but $180 billion on their credit cards last year, that are now facing credit card interest rates of 21%. each time they are raised by another 25 basis points. that makes the cost

i'm with buffett. i bought shares of apple myself. this is purely a technical nature excelling reaction. a lot of profits on the table, short-term traders doing what they need to do to create the lottery ticket. i don't look at this with john desai. i'm with pete, there is upside here. the question becomes what is this going to be in for 5 years and the answer is dirt cheap. liz: okay, okay. pete, when you look at the broader picture the jobs report is very goldilocks, not too hot, not too called except the wage picture. let's look through the prism of investing. what sectors are looking good and what names are souring a bit? >> some of the names that are souring are the runs we've seen in technology. it has been extraordinary as we know. it is not just everybody talks about whatever they want to call it. there are more than those names but it is technology. they are a little lofty so i can see why there might be some moving into other sections. i like energy a lot going into the second half. july 1st, to the point where opec cut 2 mi

up today, buffett announced new positions in the home builder. existing new home sale owners have held on to their homes. they don't want to sell because of high mortgage rates these home builders really have been doing very well carl, back to you. >> our bob pisani this morning up next bill ackman, hedge fund managers making big bets on tech we're going to break down me the trades in just a couple of minutes let innovation refunds help with your erc tax refund so you can improve your business however you see fit. rosie used part of her refund to build an outdoor patio. clink! dr. marshall used part of his refund to give his practice a facelift. emily used part of her refund to buy... i run a wax museum. let innovation refunds help you get started on your erc tax refund. stop waiting. go to innovationrefunds.com you really got the brows. nice footwork. man, you're lucky, watching live sports never used to be this easy. now you can stream all your games like it's nothing. yes! that's what i'm talking about. [ cheers ] running up and down that fiel

dr horton, home builder and warren buffett bought in and stock up 2%. >> i did not own them.re tough and warren buffett made a wise move here and you look year-to-date and stock had a huge move up. we don't have enough homes in the country to house all of our citizen, legal citizens that is. if companies like dr horton need to expand and go out and build more homes and i think if that continues, you're going to see more movement in the stock price. stuart: got it, thanks very much, mike. one of the big stories we've been talking about today is the downside move and the economic problems in china. bring in china expert lee steinhauer with us. they stopped releasing youth jobless data because it's so bad. is the economy in china in danger of a serious ongoing downward spiral? >> yeah, china right now is in bad shape economically. you touched on a few of the issues. their real estate sector, which is about 30% of their economy, which is a huge component has been in a downward trend for the last two years at least just this week, one of their biggest property developers country g

. >> watching that inflation trend and that commentary we got from warren buffett and his confidence in treasuries and the fact he's going to keep buying is just a question of which treasury >> right and then, of course, a slew of corporate results. we talked media last hour with warner bros. discovery all eyes are on apple and amazon and their commentary about the back drop. >> i think we're going to be seeing the tea leaves of amazon and what we'll see in the next quarter. i think that's important. >> very big night of results coming their way ahead of the jobs number. >>> despite our next guest pointing out warning signs in the market, he's not bearish saying the market has not broken down but that could change quickly. joining us is morgan stanley's vp of investment jim good to see you back. >> good to see you, carl and julia. >> you got the s&p up 10-plus at the end of the year at the end of july. historically that's been pretty good for the full year do you see land mines in the remaining months >> well, there's land mines, road bumps, speed bumps, there's volcanos, all sorts o

the good, warren buffett adding a stake in the stock bad, home builder sentiment dropping sharply with over 7%. >>> we begin with the warning from fitch the firm saying it may be forced to downgrade dozens of banks, big ones, including jp morgan chase, coming after recently downgrading the united states credit rating. for market reaction, let's bring in doug butler, director of research at rockland trust what has got fitchy feeling so -- well, i could rhyme but i won't. >> i'll also not go there. but again, fitch downgrading the banks, very core lair to what they just did. it's their really negative on the government and they're taking this as a broad swath they're saying the banking industry as a whole and greater problems which is why they would hit jp morgan kchase and every bank dow the line every bank from large regionals all the way up to jp morgan would get hit. and that's one of the reasons why it's spooked the markets a bit, feeling like this is a problem. but again, if the issues facing the bank, real estate problem, deposits, those are things that -- concerns have been baked

big miss for builder sentiment >> while we have you, very notable that warren buffett has been buyingou've been digging into this >> he looked into -- these investing in d.r. horton and lennar and nvr they build the entry homes and they're affordable there's no affordability on the existing home side the same with lennar nvr is interesting because it's located in the northeast and the midwest, which are areas that were not as hot as in the west and the south. this is all based on mortgage rates. do these high mortgage rates keep homeowners in their homes, meaning they won't sell, and that puts the inventory on the market >> diana, thank you very much. a lot to get to there, including big tech moves a lot to talk about on the broader markets and the data front. i think we should talk about retail sales that was a surprise, if you're betting on the consumer, but not if you're betting on the fed the big surprise was more than expected and you look at the control number, it takes out the volatile series like restaurants and autos and gas. up 1%. remember the atlanta fed gdp tracker? risk

charles: float to self, if buffett doesn't buy 10 billion in bonds on monday i'm out.ou're say about the stock market the sort of weakness is right on cue. you're referring to seasonality. >> yep. charles: we have the month of august. august known for weak month. september a disasterous month. what i find interesting the first part of august is weak, all of sudden we start to come on a little bit they're. this pullback this correction you're looking for how deep is this? what kind of correction or pullback are you looking for? >> three to 5% at most over the course of next couple months. we have a lot of momentum in the market right now. look, a lot of professional managers are lagging the indexes this year because it's been a tech a.i. chase since the beginning of this year. seven stocks we talked about this so there is a need for performance pickup. so whatever pullback we get towards that 50-day moving average i think is going to be a pretty good buying opportunity for that october, november, december, year-end rally that we will see as managers chase performance to

warren buffett has beeni busy te last year adding japanese stocks his portfolio and managing rising interestshareholders last heard from the legendary investor back in may during berkshire hathaway's annual meeting where he took questions in a marathon six-hour session. >>> ford drivers listen up. the american-based manufacturer is recalling about 42,000 f-250 and # f-350 trucks because the rear axle shaft may break. a report from the national highway traffic safety administration says a broken axle shaft could increase the risk of a crash impacted drivers will be notified and ford will inspect and fix the shaft. >>> and some fast food customers have beef with burger king. a class-action lawsuit alleges the chain made its signature whopper look bigger than it actually is in ads and on billboards. a federal judge refused to dismiss the case. the suit seeks $5 million for breach of contract. that's your "cbs moneywatch" report for this thursday morning. i'm shanelle kaul, cbs news new york. >>> the annual venice film festival kicked off without its usual star power. the dual actors and writers

now people like bezos and mosk and warren buffett pay 1% or 2% taxes.hat is why we used to have funding to keep this country and keep our middle-class and do everything and now it is just the idea that let's deregulate everything and nobody pays taxes. look around, there are homeless people and people are hurting. we are the only modern country in the world that does not provide health care. that ghoul you had on earlier, he was a lying chill. that would make a big difference. we have a mental health crisis. do they want to give us health care? of course not. you are my favorite person. have a great day, america. host: leo, illinois, wrote publican. caller: good morning. we have a new disease in this country and i was there to the gentleman in california who asked the doctor, questioning a doctor, where was he during the pandemic. it wasn't a pandemic, it was a military biological weapon, period. i was in atlanta, i happened to get pulled over in my license was expired and i got locked up in rows well i went to fulton county and what does this have to d

getting a new home thanks to a generous gift of more than $100 million from philanthropist roberta buffettdo more to get in addition to traditional outpatient treatment , there's a day program. re with significant mood and anxiety disorders. >> i suspect families from the bay area will call us clinicians feel they need a higher level of care. reporter: care that is vital for kids who need it like sawyer. they gave him and his family the tools they could use together to work through the sadness he was feeling. >> they helped me and taught me how to set boundaries with my friends. i felt like they appreciated and really helped me and my family. reporter: involving a child's family while still protecting the child's privacy accelerates treatment. essentially, treatment is better together. >> the idea is you are there for one another to make the bad stuff bearable and the good stuff better. ama: such a wonderful program with so many opportunities for people. the grand opening ceremony for their new campus will take place on september 27. we've put together an entire list of resources for anyon

so warren buffett giving a homebuilder a thumbs up and obviously a lot of those homebuilders, at least they're activity can help the home depot business. right now, home depot is modestly higher, matt. but as we've assessed those results and we'll talk a little bit more about them later in the program, it just feels like consumers are not buying the biggest ticket items these days, still doing some spending, but less so. well, you know, i was talking to an analyst about this earlier, drew redding from bloomberg intelligence, who said the problem is the comps are from a time when people were out there buying the big ticket items, they were getting, you know, the big weber grills or, you know, decking for their patios. and now that that's done, it's not the kind of thing that you buy every month. you just do that every few years. and a lot of consumers have already done that with the excess savings they had. and the question is how much is left? let's talk about that right now, because us retail sales rose in july by more than forecast. we saw increases in sporting goods stores, clothing

warren buffett says he buys $10 billion in short-term t-bills every week yesterday, we told you about bill ackman's call on shorting 30-year there's reasury bonds. he does use that strategy from warren buffett yesterday afternoon, elon musk signed on to the strategy. he tweeted, short-term t-bills are a no-brainer this is ackman saying it doesn't matter if you buy short-term if you want to say you are confident, long-term treasury. >> i have a lot of respect for steve. i don't think the numbers justify the downgrade. if you think of the cr creditworthiness of the united states and how much wealth relative to debt very high. we have the ability to levy taxes to pay for it if we need i believe the last debt ceiling debate showed the willingness of the body politics to step up and pay the debt the politics are messy i think maybe there is justification to the downgrade, it comes from that let's throw out a contrarian idea >> can i add on to that? i talked to buffett last night about these things he echoed what you said on the levels of the responsibility of fitch to tell you whether your

have they heard of a guy named warren buffett or william shatner. -- you know what, it is to our benefit, though, because now you can actually talk about some things that may be in the past, you would have been less inclined to talk about for example, i know you're willing to weigh in on the fitch downgrade. let's just talk -- start out with this retail sales number and steve's reporting. did you foresee when you were at the fed that it was going to be a much stronger economy and maybe a no landing or soft landing? and what is really behind that is it all the stimulus that we're still seeing, fiscally >> yeah, i think watching this recovery from the pandemic has been fascinating and difficult to judge the consumer as we saw today is so important to this economy and they really have hung in there, despite what has been one of the most aggressive tightening cycles that the fed has undertaken so this is an extraordinary time we're watching these balances in the economy continue to work their way through. some sectors not doing as well others like the c

stuart: warren buffett. has he been buying the homebuilders? they are a lot.e bought $800 for different home builders, dr horton, lennar, you see dr horton up 2.5%. the berkshire hathaway bet is low inventory sparks big demand to build homes. it makes sense, right? stocks are up because everyone looks at what omaha does. stuart: if you get the permitting people, they are not in my backyard people. they might build new houses but that is just my hope indian. check the big board, 6 minutes, down 190, that's just over half a percentage point. dow winners, home depot at the top, walmart is in there again, unitedhealth up. mcdonald's and merck down. the s&p 500 the winners please, dr horton, nvidia is up $10, 2. 3%. how about the nasdaq composite? look at the big names. nvidia, fort net on the upside. the 10 year treasury yield has been going up recently. 4.21%. the 2-year treasury this morning yielded 5%. that a landmark. the price of gold, $19.32 per ounce. bitcoin 20 one thousand 3, is it? it has been there for days. price of oil, 80 one dollars a barrel. natura

one of the things that really sticks out is that, but um, is more popular among republican buffett or spending the democratic voters. i'll get splits is a really interesting thing here. and also talk you said in your, in your recent blog and i'm paraphrasing, i go down because i want to take it out of context of robert f. kennedy junior is more of a threat than trump explain yourself. oh, because i really do think that it when they want to pull the plug on trump, they can legally and i and it's not because trump should be in the legal trouble or that he did anything wrong. but this is just the way they, they operate and more over i think that a kennedy is safer than trump. kennedy doesn't re, or people like trump does like trump rings out. they are rational in a lot of people. and it's for this reason that even though i'm, you know, i don't have a hard time believing that joe biden got 81000000 boats. i can also make an argument that, you know, donald trump is so divisive that every body just came off. the sidelines is that, you know, want to get rid of this guy. and because i believe