cantor's eric johnston is back he'll join me and makes his case next you're watching "closing bell" on cnbc. g me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take control of your investing education. cut through the noise with best-in-class education resources that match your preferred style of learning. learn your way. not theirs. td ameritrade. where smart investors get smarter℠. power e*trade's easy-to-use tools, like 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 bridgett is here. she has no clue that i'm he

so according to cantor, about half the money we spend on groceries goes on these supermarket own labeland lidl. their sales soared by more than 23% apiece in the year to mid—may. that's more than sales are growing at the two biggest uk grocers, tesco and sainsbury�*s. we should remember algae is already the fourth largest supermarket in the uk and some analysts think it's only a matter of time before it becomes the fifth. daniel, thank you for taking us through the numbers, daniel thompson. west ham fans have been celebrating in prague after the hammers won the europa conference league — their first major european trophy since 1965. they beat italy's fiorentina 2—1 in the final, as andy swiss reports. after more than a0 years of frustration, at last west ham in wonderland after a night they'll never forget. for the thousands watching in the nearby fan park, the party could begin, and for some supporters it was almost all too much. this is the best night of my life ever! ijust can't believe i'm here. i think i'm dreaming! i just can't believe west ham have won something! it feels the be

has the republican party changed since eric cantor?accarthy is in the same place as john boehner and there is an eric cantor trying to help mccarthy and he can't get anything done. >> i think the party has gotten more strident in many respects in the house which makes life very difficult for mccarthy. the other big story is china. a couple of comments quickly on that. the little progress they made and left few days was negated overnight with joe biden inexplicably ripping intoxi. ] i don't know why he did it but the story is out on a military base or spy base or a training base in cuba by the chinese. it's a serious issue. tom: i agree because you and i lived it. i have the clearest memories of my youth and the cuban missile crisis but i would suggest there is not missiles involved here, it will be x number of soldiers 100 miles from key west. can you really equate it to a cuban missile crisis of john fitzgerald kennedy? >> to their point, it's not as serious as 1962 but at the same time, it will get hotter. the politicians who don't l

maria: joining me now 9/11 families united national chair terry strada, her husband tom works for cantorn the world trade center and killed on september 11. thank you for being here, our condolences to you and your family, how to respond to what you just heard bryson and others who say it's time to move on with the saudi's and the golf deal. >> he thinks were supposed to give and forget. we can't forgive people who have never admitted what they did in the first place and keep denying the role that they played in murdering our loved ones. he is now viewing saudi talking points like the rest of them. i am so is appointed that any of them could come out and not take the high moral ground like the other pga tours do and try and lose their voice. this is part of the saudi plan to silence our voices from being heard in the support that we had from the pga nj monahan in the beginning. they don't want the public and they don't want the world to remember that they are the ones that are responsible for september 11. maria: is their role here for the government. is there a role for this administrat

micah cantor, one of the teen plaintiffs, spoke to vice news today.a lot more wildfire smoke in august, so you can't go outside when it's really smoky because you don't want to get sick. and then also the rivers have been going down a lot. the water level, because of drought. so you can't float the rivers as much. this is the first climate change lawsuit to reach trial in the us. next, a rude awakening at a wake. 76 year old woman was spotted moving at her own wake in ecuador. she'd been declared dead, but relatives saw her casket rattling as she was gasping for air. wow she is being treated at the hospital as officials investigate how it could happen. next, the controversy over shampoo, pain walls. this is sparking a lot of debate. a video of one weddings champagne wall has gone viral on tiktok. an anonymous hand is seen offering drinks. the bar staff remains hidden behind a grass wall. some call it great for introverted bartenders. critics say it's dehumanizing. and finally, the pickle ball craze showing no signs of letting up. nope. according to th

when cantor were at 17 5, food price tnttotton — cantor were at 17 5, food price tnttotton tn— cantorifically— month. so some people specifically on - so some people specifically on food price tnttotton — specifically on food price inflation, which of course is trtwtne— inflation, which of course is trtwtne tne— inflation, which of course is driving the behaviour at the toot— driving the behaviour at the toot tont— driving the behaviour at the food bank, are— driving the behaviour at the food bank, are 20 fold increase in food bank, are 20 fold increase tn-tont— food bank, are 20 fold increase tn-tont eee— food bank, are 20 fold increase in -bank use. and - food bank, are 20 fold increase in bank use. and i've in food bank use. and i've tottet— in food bank use. and i've tottet to— in food bank use. and i've talked to neil— in food bank use. and i've talked to neil sharlach since gb wewe— talked to neil sharlach since gb wewe teeon— talked to neil sharlach since gb news began. he's— talked to neil sharlach since gb news began. he's one of the wet— news began. he's one of the ttret peo

together paul, eric cantor and i created something called the young guns program.fended fiscal responsibility and economic opportunity we made a pledge to america explaining we would govern differently. we were fortunate capture 63 seats that year. i saw paul not only as a policy wonk but a selfless leader who exemplified teddy roosevelt's man, who shows himself in a worthy cause in. a gallery of speakers, paul's portrait will represent his many accomplishments but i want you to remember this. a portrait lasts a long time, but a legacy of change lasts far longer. that's what paul achieved. his legacy of change is all around us. we are so grateful for your service, for your passion, for your decency and for your principles. speaking as a clear friend, there's only one thing i've ever seen him change. his hair got a little longer. his smile got a little wider because he got more time with his family. and i think america, i know, is a lot better for your service. thank you for that. [applause] now the time for the reason we're all here. i want to invite paul and his f

let's bring in michael cantore great to see you fed pivot? fed pause? what's really going on here? >> i think it's that that started getting priced in in october of last year. i think besides the banking crisis, the ai excitement, i think lower energy prices is going underneath the radar as one of the biggest drivers of this multiple expansion in the market obviously it's accelerated the concern -- decelerated the concerns around inflation and it's been a major reason that i think you've seen some consumer resilience in the last six, eight months. >> explain that, michael, if you could. i think a lot of our viewers won't understand why you say you have gas prices coming down, it's good for tech stocks. it's not intuitive to make that leap explain why you say that >> sure. when we look at all the industries in the s&p 500, software, semiconductors, tech, cyclicals like financials, banks, material companies, at the tail end of industries most sensitive to energy prices, it's technology and software names that are -- tend to benefit the most when oil prices are falling or when rates a

current guidelines date back to '95 and focus on deposit levels as a proxy for market concentration but cantord the banking industry has changed so much in the last three decades. >> the division is modernizing its approach to investigating and reporting on the full range of competitive factors involved in a bank merger to ensure that we are taking into account today's market realities and the many dimensions in the modern banking sector >> reporter: he says the agency will bring back competitive factor reports, pulling in data sources for market concentration not just local deposits and branch overlaps. things like fees, interest rates, branch locations, product variety, network effects, inoperability, customer service to name a few. of course the potential rebound comes amid an industry that's experienced tremendous turmoil in recent months consolidation, a heavily debated topic with one camp believing mergers could stabilize the industry the other thinks smaller banks are an important part of the local economy so perhaps today's market reaction to this is sort of reflective of the tug of wa

are often higher than the cantor nte . to t— are often higher than the cantor numbers .o teoe very,— would say that it's going to become very, very political teoeeee— become very, very political teoeeee tt— become very, very political because it will— become very, very political because it will be seen that toot— because it will be seen that toot ente— because it will be seen that food price inflation is the wny— food price inflation is the reason why uk- food price inflation is the reason why uk inflation is still not— reason why uk inflation is still not ent— reason why uk inflation is still high ent we— reason why uk inflation is still high and we still— reason why uk inflation is still high and we still keep getting tneee— high and we still keep getting these punishing— high and we still keep getting these punishing interest rate rises. _thank-i. these punishing interest rate- rises. _thank-i mean, these punishing interest rate- rises. i'lllthank-i mean, these punishing interest rate- rises. i'll haveink-i mean, these punishing interest rate- rises. i'll have the-i m

department officials are rethinking the way they evaluate bank mergers from a speech given by jonathan cantortitrust division spe speaking at the brookings institution it's time to update the guidelines from 1995 which he says no longer reflect the current bank industry. the three decade old approach focuses on levels for concentration and believes these are outdated because of the popularity of interstate banking, financial conglomeration and online mobile banking. >> the division is modernizing its approach to investigating and reporting on the full range of competitive factors involve in a bank merger to ensure that we are taking into account today's market realities and the many dimensions of competition in the modern banking sector. >> he says the agency will bring back what's known as competitive factor reports, analysis which pull in data sources to calculate market concentration, not just local deposits and branch overlaps. these would include fees, interest rates, branch locations, product variety, network effects, inoperability and customer service for the timing, cantor pg&eed it t

that's probably the biggest test for the ftc so far but they are showing their true colors jonathan cantor and lena kahn. we know those colors they don't favor mergers generally, and they're going to do whatever they can to try to prevent them. >> have they gone too far? do you personally think they've gone too far you're a well-known and former high-ranking official in a democratic administration. so what would you think about that >> i think they are too zealous on this, yes i do but i don't expect them to make a turn i don't expect them to change. i think they see themselves on a mission, on a crusade, and as long as they hold these positions, that crusade will be on i don't see any changes in it. >> roger, i appreciate your time >> thank you >> that's roger altman joining us on "closing bell. up next, break do you think the banks. we're just about an hour away from another big event, the stress test results hitting the banks. mike mayo is standing by and all month long cnbc is celebrating pride, sharing stories of corporate leaders with you sixth street partner and vice chairman marty

there's also the justice department division run by a reasonable guy, jonathan cantor, former corporated set against most mergers most of the major executives i'm saying ar saying let's not merge at all, forget about it. maybe we wait and see if the republicans win next year because we do anything the ftc's just going to block it anyway. and you know what? they're right. can't blame them but that impact is creating a world where many industries have no rationalization at all or certainly no creative destruction. we're seeing a fraction of the -- half the companies that currently exist. we need far fewer and better drug companies we have so many oil producers it's nuts. same with restaurants, real estate investment trusts only airlines need more competition that i can see but i'm pretty sure linda khan's ftc would try to block any deal in any of the industries i just mentioned. any. there's one other industry with too many people khan doesn't preside over that's the banks it might not even matter these days given all the fintech bank alternatives that have been created in recent years. b

s anti-trust division chief and the most famous anti-division trust chief, maybe cantor will surpass him, but most famous so far. he's the one that coined the emphasis on choke points. it's an f.d.r. concept and i think the idea of focusing on resilience is very important. we saw it so dramatically firsthand in the white house, the cost of overreliance on single suppliers and supply chains or so many other things like baby formulas or other essential goods. and one of the things i thought was so interesting, railroads are a good way of thinking about this, often the costs of nonresiliency are so much greater than the cost of goods. it's an important intellectual point. so many people, so many companies were dealing with railroads and they're like, i don't care if they charm me more, they just need to come. someone -- charge me more, someone need to come. someone needs to pick up my product. there's a monopoly in the area and they decided it's not worth it for them to pick up your product or it's worth it to them to skip you every couple weeks. the damage done by that ripples through

green is a guy who says listen, we offer advertisers, everybody gets a better deal, and the whole cantor suit is based on the fact that you don't get a good deal on google jeff green has some very interesting things to say. >> david >> yeah. >> have a great show tonight. >> it will be a busy one. >> do my best. >> thank you. >> my voice back asbury park the whole time. >> "mad money" 6:00 p.m. eastern time we'lwah l tcapple, obviously all-time high this morning as we came within ten points of s&p 4300 trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. (dr. aaron king) if you have diabetes, getting on dexcom is the single ♪♪♪ most important thing you can do, and it's covered by medicare. before using the dexcom g7, i was really frustrated. my a1c was stuck. (

one in three children k through three cantore that they're gray level. new york is now lowering their test standards as a result. and this is by the way a state where we spend more per student than any other state in the country. over 25,000 pursued in. and we are seeing these horrible results. and i think the school closures had a lot to do with that. obesity is another problem we are seeing. mental health, you know the suicide statistics. this tweet, you even acknowledge that remote learning, i can see is squinting. you can't see from here. and he tweeted out in 2023, what we have seen in public education is that technology can't replace teachers. remote education didn't work, in part because you have to have relationships. you have to build trust. >> yes. >> but yet, your union continue to advocate for these schools to have triggers too close to keep them closed unlike private schools. and, by the, way some of that money. that 15% was spent from that one 90 billion, it was not spent to reopen schools. it was spent for sierra to, for implicit bias, for

tom: people have to say charles cantor was in the vicinity of october and november and painted an optimisticut selected corporations adapting and adjusting. that's been my thing for 18 months. what is thatend now? you wonder how corporations will adapt and adjust? they will at the revenue line as inflation drifts away. lisa: some of them will adapt and some will go out of business. we talked about bankruptcies picking up and things are different when you start holding rates at this level for longer. all of a sudden, certain business models get challenged than others do well which is the reason why some people are so concerned going forward at a time when there still is quite a bit of lag effect that people say will come to the fore any day. tom: it will be interesting to see, lisa is focused on oil at $67. we are also focused on portugal s andintra in the 9:00 hour for central bankers lined up a conversation. stay with us, this is bloomberg surveillance. ♪ >> their new reality is a reality for maybe 30 or 40 years ago because the great moderations over. what i would pay attention to is to un

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s anti-trust division chief and the most famous anti-division trust chief, maybe cantor will surpass him, but most famous so far. he's the one that coined the emphasis on choke points. it's an f.d.r. concept and i think the idea of focusing on resilience is very important. we saw it so dramatically firsthand in the white house, the cost of overreliance on single suppliers and supply chains or so many other things like baby formulas or other essential goods. and one of the things i thought was so interesting, railroads are a good way of thinking about this, often the costs of nonresiliency are so much greater than the cost of goods. it's an important intellectual point. so many people, so many companies were dealing with railroads and they're like, i don't care if they charm me more, they just need to come. someone -- charge me more, someone need to come. someone needs to pick up my product. there's a monopoly in the area and they decided it's not worth it for them to pick up your product or it's worth it to them to skip you every couple weeks. the damage done by that ripples through