carl had been here since 1817 i think. but 12 years and in your wonderful book chasing history about working at the star and learning and becoming who you are as somebody who never wants to surface. we were answering questions earliertoday . digitally with the washington post readers and so forth and we're going through and i'm saying that's fine,that's fine . carl says wait a minute, i'm going to be myself here and himself is let's read it, let's check it,let's be careful . >> i want to show one more clip from the movie which in my mind it's cinematically a brilliant shot. journalistically it's utterly prosaic. let's look at this and i want to ask you about. >>. [ somber piano music] >> so robert caro in his book called working said one of the first lessons he learned as an investigative reporter was to turn every page and what you guys were doing here was turning literally every page every slip of paper looking for evidence that the white house had requested information about ted kennedy as i recall. it seems to me that

carl: yeah. y: did you get to meet greta? carl: yeah, because she was part of my group.re we went down the press conference, she helped me, like, get ready and whatever, like, ause i was nervous. and then--'cause she's used tit. i met lots of people from all around the world. my friend, he lives at the marshall islands. he lost his home from rising sea levels. we just have to keep talking. michael: the committee will make a recommendation as to whether or not there was a fundamental right agreed to by these nations, which they have not lived up to or honored. the enigma then comes in what those nations will do in the face of that finding and that recommendation. greta: what i wod hope thito result in that it actually changes the way we see the clime crisis a the way we see this, because it's so symbolic and that it will rt change e mindts of people. [litokne speaking marshallese] ayakha: in south africa, the 1976 soweto uprising made kids from all ages are rising up to fight the apartheid system of learning afrikaans. so there was a powerful movement, and it keeps on enc

they killed carl.d you at this ti, she was living out-of-state in delaware so she dropped everything that she was doing. we decided to meet at my aunt's house, the whole family did. so by the aunt wanda's house, hysterical and crying. for some reason, there was this little hope that ybe he wasn't dead. the family was kind of hanging onto that idea. they wanted me to call the hospital that he supposedly -- the hospital that he was taken to. they want me as his sister to call the hospital to see if he was their mgue. i could not do it. i did not want to hear that kind of news, especially not over the phone. but it was later on the day they confirmed that he died. amy: has the state spoken you? have the newark police? have the investigators? what communication have they had with your family, with carl's family? >> absolutely none. i have heard from no one. not a police officer, not the attorney general's office. absolutely no one related to this case has reached out to myself, has reached out to our attor

i'm carl quintanilla with morgan brennan.avid faber live at delivering alpha investor summit today. markets getting supported by the b of e blinking on long-term paper over there, helping offset concerns about hurricane ian and reports about apple production housing data to start the hour. >> pending home sales fell 2% from auguin august from july. sales down 24% year over year. these numbers are based on signed contracts the 30-year fixed had crossed 6% in june, but came back tofrd 5% at the start of august that juiced sales of newly built homes as we saw in yesterday's report the trouble on the existing side continues to be very low supply and high prices. the realtors are still forecasting prices up just under 10% for all of 2022. interestingly one region saw a sales gain the west which is the most expensive region up just over 1% month to month still the deepest decline from a year ago that may be due to more supply available. t morgan it started this year at 3% >> what a wild year. diana olick, thank you >>> we're 30 min

hey, steve. >> good morning, carl.eah, this august inflation number marked a huge disappointment for the market. it hoped the u.s. had hit peak inflation. that's not the case. bets were being made the fed could possibly do less rather than more rate hikes instead the expectation this morning for a much more aggressive central bank. here are the numbers you can see just by looking at it versus the estimate how every part of it disappointed. headline was higher rather than negative year over year was higher than expected by 0.3. the core, which is what the fed is following and what everybody -- is the key to policy right there, double the expectation and the year over year shooting up how did this happen? take a look. we got the expected decline in gasoline prices. energy down. food came in hotter than expected housing, hotter than expected. i put a parallel up there as some indication. there had been expectation these big inventory stories we this is going to help reduce prices. it did not do so so that 0.2 on the panel

rich, great to see you. >> great to see you, carl. it's been a while. >> it has been a while tell me about this initiative. is this sort of an attempt to get those who haven't been back to the theater back in the pool? >> yeah, i wouldn't make too much of this initiative. the movie industry had a fantastic summer, as you said. "top gun" was obviously the star, but there are a lot of stars. people came back but the industry has been slow the last couple months and the reason has been a lot of the movies got delayed in post production because of covid. here we go into labor day, which is traditionally sort of a mixed time of year i think people said what the hell, it worked in england when there was kind of a national $3 day or pound day, so why not give it a shot but, you know, this is kind of a rounding error, carl i think the real developments are in the fourth quarter when you have black adam, black panther and avatar coming back why not give it a shot and try to make a little additional revenue. >> it makes sense. some have said th

we're essentially there, carl.a, they're only about 1% off of 52-week lows so the important thing here is earnings expectations, still expected to come down. but not dramatically carl, back to you. >> bob, thank you for that, bob pisani dow shaving its losses under 100 points as we go to break watch bonds today. two-year got to 396. ten-year gets almost to 352. both of those, of course, multi-year highs german boonz, by the way, on a ten hch year basis, break above the june high. even got oil off the lows to 83.50. back in a moment what if you were a major transit system with billions of passengers taking millions of trips every year? you aren't about to let any cyberattacks slow you down. so you partner with ibm to build a security architecture to keep your data, network, and applications protected. now you can tackle threats so they don't bring you to a grinding halt. and everyone's going places, including you. let's create cybersecurity that keeps your business on track. ibm. let's create >>> take a look at some

"techcheck" starts now >>> good friday morning, welcome to "techcheck," i'm carl kwint nil la with jon fortt, deirdre has the morning off. 2% gains on the nasdaq docusign, zscaler surging. we'll dive deeper into the numbers when zscaler's jay chaudhry joins us in a couple of moments. crypto on the rise ftx continuing its buying spree. is this a bear market bounce or the start of a real rally. intel, breaking ground on its chip plant in ohio, we're going to go live on the ground there, jon, a long awaited day for that state and the company. >> for sure, carl. as you mentioned we're going to start with the pair of earnings movers docusign and zscaler are surging this morning, pandemic favorites that fell out of favor for different reasons but the guide is what's lifting both names today. docusign trying to engineer a turnaround, ceo dan springer stepped down in june, chair maggie wildorodder taking the heldment and zscaler, the q1 and full year 2023, significantly above estimates and that comes in sharp contrast to fellow security company okta, which reported not long ago had trouble wit

i'm carl with jim.avid faber is at one market in san francisco, his exclusive with disney's bob chapek is moments away we got this tentative agreement to avert a rail strike, lots of eco-data, signs that prices are falling, not rising, and a $20 billion software deal from adobe and that's where our road map will begin this morning, that design deal, adobe snapping up figna we'll talk to sean in just a few moments. >>> plus, as carl said, bob chapek, we've got an exclusive with the disney ceo. he opens up about his plans for espn, cost cutting and the future of hulu >>> and improving consumer data while inflation concerns linger. wall street awaiting moves from the fed. carl >> we'll begin with a busy morning in the markets retail sales, of course, the labor deal on the railways that's a huge bullet dodged, would you say, jim >> look, we just got over, according to craig from costco, the big jam-up when it comes to cargo ships. it's over. they even have seven cargo ships they bought or they're releasing.

hey, robert. >> good morning, carl.01(k)s to family offices shareholders lost trillions in dollars of wealth this year from those market declines knew data from the federal reserve showing value of american holdings of corporate equities and mutual fund shares falling by $9.2 trillion as of july 1st add in declines since that time, probably brings it close to the $10 trillion mark. now, the top, they lost the most since they own the most stocks top 10% of americans saw their stock wealth drop by over $8 trillion this year top 1% losing $5 trillion in stock wealth about a 20% drop in keeping with the market rising home prices have helped a bit, but not nearly enough to offset stock wealth declines real estate holdings up $3 trillion this year less than a third value of the stock losses the big question is, when this negative wealth from stocks starts to affect the consumer spending of the wealthy? the total wealth top 10% still up $9 trillion since 2019, before the pandemic. so that financial cushion is still large, de,

carl, it just wasn't supposed to occur. and yet, he got it that used to be front and center as the main reason why we're in trouble. it's just wrong. people are paying three bucks, having fun >> yep yep. there was some policy behind it, but also, you know, demand, david. maybe that's a return to work. people didn't have to commute as much, which is sort of a -- will be a question for a while, how much structural demand destruction is there, and just gas gasoline usage in this country at least >> it will be an interesting question because again, when we come back to it so often, it's not as though people are going to be going back to the office five days a week that is over and done with but perhaps two to three and therefore some of the commuting although the roads around here, even though people don't come into office buildings, carl, seem awfully busy and have for quite some time so i think it's hard to judge what people are actually doing and whether they really are driving less. >> well, david -- go ahead, carl >> i was

>> carl, thank you for having me on this morning. so they are instructive.in, we're looking for as many early data points on demand as possible and something we can all do is track lead times again, the time between ordering a phone and getting that phone delivered. and the answer is they are elevated right now iphone 14 pro max lead times are almost 45 days iphone 14 pro lead times are almost 37 days both of those are records across all models launched in the last six years. at this point in the cycle and so there's a lot to go i don't want us to get ouver ou skis, but yes, lead times are very instructive, and they are much better than expected, i would say, so far. >> right if you extract the emphasis on the pro, which we mentioned is getting quite a bit of a play, what does that suggest about overall demand in this cycle >> yeah, so right now, what we're trying to balance is the strength of the pro and the pro max versus relative weakness of the iphone 14 skew and what we have determined so far is that the strength at the high end is more than offsetting

but carl, i want to distinguish the u.s. economy from china and europe u.s.conomy is doing okay china is self-inflicted because they won't even let moderna give them the vaccine, and look, putin figured so big -- when you talk behind the show, i mean, putin is responsible for a gigantic amount of decline in this world's economy >> yes, he is. >> one man >> more than we perhaps anticipated when he began his incursion, began his war against ukraine. >> what do you make of doug this morning toying around with the idea that buffett makes a play here folds it into some burlington businesses, spends a third of his cash at 20 times >> no. i think that you want to see -- this is a fat company. >> fedex yeah we'll go back and forth here in terms of market participants and what they think is percent execution related versus macro, but there's no doubt there have been execution issues here they have three new board members, remember, d.e. shaw got in there and we'll see if those board members step up, but if they don't fix these execution issues over time, then they're

carl, i'm wondering what the vibe is there. you mentioned the layoffs, the valuation markdowns we've started to see, the nasdaq losses, which are continuing to pick up again as interest rates rise are people feeling gloomy? >> i think that's a tough sell, sara, and i wond aert what point some of these corporates are using the historic or at least the memory of high inflation as an excuse for a little more pricing. look at what goldman said this week about the likelihood of a soft landing getting better, pretty good services print yesterday on ism today susquehanna says people are hesitant but there's not a lot of downside being priced in. we have to scrutinize the corporate commentary in the next few months about the idea prices are going higher from here >> yeah. you know, you know what, carl, we want more on the markets and the overall state as well of the global economy so let's get joined by jim o'neill, former chairman of goldman sachs asset management, former uk treasury minister. now he's just a guy. but a guy we like to

let's get to "the half." >> carl, thanks. welcome.cott wapner front and center, stocks sliding again as september trading gets under way. why this could be in an especially treacherous month for your money, even more than usual. we'll debate the road ahead with the investment committee and see where there might be opportunities in these markets joining me, jason, carrie fire stone, steve weiss we've been down for four straight days. we're going for five unfortunately, we are succeeding at the moment. nasdaq is where i'm looking right now, down 2% that's a loss of near 250. 325 is where the yield on the ten-year is. and therein lies a problem, st

you know that carl it went very well.ppy about it. >> you kept that under wraps. >> yeah. the planet is happy, too, because there's going to be a lot less energy usage as a result of the merge in ether hasn't meant much for the actual underlying coin. >> i think there's also an expectation you're going to see potentially some bugs and hiccups that need to be worked out, too, plus macro pressure is having an impact on cryptocurrencies overall. >>> quick note as we head to break, cnbc's delivering alpha summit is returning in person on september 28th to register, go to cnbcevents.com/delivering-alpha. cnbcevents.com/delivering-alpha. we're back in two. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hinna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your

carl >> trying to box out the competition with a new pivot on stablecoins.ece in just a moment. tech check is back in just a moment in order to thrive in an ever-changing market. the right relationship with a bank who understands your industry, as well as the local markets where you do business, can help lay a solid foundation for the future. pnc provides the resources of one of the nation's largest banks and local leaders with a focus on customized insights to help your business achieve its goals. that's how we make a difference. ♪♪ >>> the world's largest crypto exchange raising eyebrows this morning after announcing it would no longer allow users to t trade stable coins it's busd. these are two stable coins that are pegged one to one to the dollar kate, kind of bold move here by the binance team taking circle coin off the exchange which is going to hurt them if this is market share is there anything they can do. >> there's a little bit of this precedence coinbase did something similar in july. not a good thing for circle, but they have other exchanges, nu

and from carl announcement reporting from london. carl, i'd like to start with you. it is unusual for buckingham palace to comment on the queen's health. the fact that we're hearing from the palace must mean there is quite a bit of concern. yeah, it really is important just to stress that this is quite unusual state been coming from the royal family. they don't give regular updates on the health of the queen or other family members. they don't give live commentary on how the queen is doing so to get this statement today, right around lunch time was i think a big shock for a lot of people here. and there is definitely a sense of concern around buckingham palace and all the way across the u. k. reaching up to scotland, where the queen is now we don't have any new details since that last update. and i think that's also definitely cause for concern amongst a lot of people here i've been speaking with londoners and 2 risks who have been showing up to the site today. and every time i speak with people i spoke with a couple from austria as well as from franklin asked us, do

. >>> good friday morning, welcome to "tech check," i'm carl quintanilla with deirdre bosa. we've got the volatility playbook this hour big tech cutting back while robinhood expands wh, what that means for stocks the party is over. and an inside look at celsius as the company tries a new hail mary approach to paying back its lenders. >> we've got to start with tech investors, let's call it deja vu, the nasdaq composite down yet again within inches of those june lows. key number to watch here is 10,565 that's just about 300 points away it's been a similar story for all the big tech darlings. take a look at amazon down 7% this week. google is down 4% with meta and microsoft not far behind even the broader markets have felt the impact. the s&p this morning, to 3,600 and forecasting, eventual more pain ahead senior markets commentator, michael santoli. >> the market acts as a proxy for the broader market, only more amplified what we're seeing is higher bond yields globally, and a racing dollar being filtered through to all the valuations of the biggest stocks in the market to me

going to go there, carl.t's hope we never have to really use this. >> exactly. >> in an emergency that would be bad. >> incredible, kind of this is technology proponents have said. we are capable of, as we're doing now, trying and testing. this is the type of cataclysmic event that we could actually prevent, whereas, there are many others that could be on the horizon we couldn't. years and years in the making. >> amazing video last night, of the staff, at least, celebrating that win. >>> meantime throughout his parng heritage month celebrating cnbc's teammates and contributors this is cnbc executive producer maria bowden. ♪ >> being a hispanic immigrant shaped nearly everything i've done to get where i am now my parents boarded a plane with two daughters and two suitcases to give us opportunities we may not have had otherwise bold and courageous and never take didn't for granted. if my mom can become a doctor in a new language and my dad keep us running nothing i can't do. learned to be bold in my career and

hi. >> hi, carl.d to understand that we already had a housing shortage before the pandemic as the largest generation was aging into home buying years and home building was still weak after the great recession. then came the pandemic and government-induced record low mortgage rates both the pandemic and those rates really drove fast home buying demand and home prices shot up more than 40% in just two years. suddenly now, rates more than double in a matter of months and home builders and sellers pull back, leaving us with still very low supply so, what does that mean for affordability? the monthly payment, which really decides if you can buy a home take a look historically at the share of your income used for a monthly payment. it tracked right along with interest rates historically until the subprime mortgage boom and then it split because people didn't get 30-year fixed mortgage they got those wonderful no down payment teaser rate loans so they basically paid nothing for a house. prices went way up bu

your reaction to the print >> it's good to be here, carl. there's a lot of encouraging news in this report today. on the jobs side, we saw at 350,000 jobs, we never look too much at one month. but if you look over the last quarter, there's about 375,000 jobs a month average that is down from earlier in the year at 5 or 600,000 jobs but still a very solid pace. and i think the big encouraging sign in this report is on the labor force. so we saw the largest increase in labor force participation so far this year. prime age labor force participation, that's among working age americans, is now at its highest level, a couple of months before the pandemic, that we've seen in a decade women's participation now higher than pre-pandemic levels so we're seeing people come back into the labor market. that's the kind of thing we want to see so a lot of encouraging signs here in the report >> what do you think is driving participation, if in fact we're starting to make some real headway, is it about covid restrictions falling is childcare getting easier?

carl, back to you. >> we'll see what happens in the morning. as we go to break, let's watch bonds. the dow is down about 475. two-year, 4.2% ten-year just below 3.8% yesterday, the biggest one-day decline since 2009 we're back after a break i traded my taxicab for a food truck and a dream. i'm larry villalobos, owner of cachapas y mas, bringing venezuelan flavors to new york. people love our yoyos and cachapas. we've become a foodie destination. larry doesn't just create mouthwatering dishes; he creates opportunities. small businesses like larry's open doors for neighborhoods to thrive. support your community. support small business. - yieldstreet presents: alternative investing with kal penn and older kal penn. - oh, the stock market is doing that fun thing again. - hey news from the future, you're going to live through that about 10 more times. (laughs) - oh, it's no stress. i just discovered yieldstreet. they vet investments that don't ride the stock market rollercoaster. - ooh. i think some of my gray hairs just reversed. - yeah. you're wel

>> well, yes and one of the things i want to go back to what carl said.hey are worried, but if that's the case, why have we only seen just a couple of significant misses mccormick was a miss, the spice company. newel was a miss and then, i don't know, you could call bed bath a miss, but that was a while ago if it is so weak, and if everyone's so worried, why not slash right now? why not just say, you know what? things aren't good that, i'm not getting. maybe there's some hope. there's some hope, by the way, when it comes to europe, because of the ukraine offensive, that is become, i think, front and center in why the market could rally. >> yep we mentioned some of the euro strength today euro dollar up a percent, that's staying about six months eur european nat gas, one month low. germany today saying storage could go to 90% and then a bunch of, obviously, hot takes on what this means for putin's image as, you know, of competence and stability and whether or not he's going to start to get some pushback internally, not to mention the operational gains that

i'm not sure carl can still hear me. if not, i'm going to turn to my friend had a clever here in the studio and ask her to describe me what we just sort of saw there with the, the person who emerged on the bargaining for viewers who just turned in the top of the are believe is called the garter king of arms. he stepped on the proclamation gallery and what did he do? all these names a little bit. i'm kind of harry potter on there. yeah. no. he's basically starting the process of officially telling everybody that great britain and all it's realms has a new monarch and seeing pictures of some of those guns just been fired. big, big move from one place to another with some very nice looking horses. i must say, more guns being fired. this is all part of this massive pomp and ceremony that britain does so very well. i must admit and leave uniforms. everybody in the world is going to be watching this. and if he no members of the british military, they serve it, i'll tell you, they served a queen of a sort of the king. i mean, i

carl, back to you. >> bob, fantastic.e books, absolutely. 6%, i think, is right. chi chipotle, this morning baird has a piece talking about whether this new garlic steak limited offer is going to impact numbers. but then pulls back and says, stop trying to judge this company on the limited offers and just accept the fact that this is still the premiere i agree with that. this is the premiere quick serve restaurant to go to. and i stand by the idea, as does this analyst, that this is an opportunity to buy a company like this in a difficult environment. >> you've long said it's all about through-put. >> they know how to do it and they know how to manage their finances with brian nichols, a genius, and jack hartung is fantastic. i'm standing by my long-standing thinking, and i just want to buy companies that are good. you like that? >> that's smart. >> buy companies that are good no, no >> jim, have a good weekend. we'll see you tonight. "mad money" 6:00 p.m. eastern time. >> just quoting you. >> dow's gone green. we're back

eight carl quintanilla with david faber and sara eisen the nasdaq is trying for three days up as we've got some cooler inflation numbers out of china, some decent tech and retail results. we begin with stocks looking to snap that loss over the last few weeks. gugg guggenheim's scott miner says a 20% drop is still in the cards >>> plus failure is not an option former vice chair richard clarida says it will come hell or high water. >>> kroger shares up ahead of the open >>> ppi two three instead of the prior four two, the first time ppi has come in below cpi in a couple of years. >> it reflects what's happening with china's economy which is basically stalled and continuing to go through these rolling shutdowns for millions of people but for those in the markets, and there is a growing camp of people, investors saying we've peaked on inflation, it's coming down very quickly, the fed should be looking at these forward looking indicators, it's more proof that that's happening around the world and it's good news lot fed is singing a completely didn't tune. it almost doesn't matter who you he

carl >> thanks.f you missed part of the show, well, don't forget to follow and subscribe to our podcast listen anytime, anywhere, wherever you download podcasts tech check is back in a moment this is redefining storytelling, at the speed of now. this is tracking and publishing your content in real time. this is the system you built, captivating a global audience. this is how. airtable. at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. >>> one more thing before we go that is an official leadership change at meta it is cheryl sandberg's last day after she announced the move in june julie bornstin back with us and has more >> it marks the end of an era for meta here's some video the company gave us from tuesday that was her last day in the office at the company's menlo park headquarters, and her departure comes at

i'm carl quintanilla, here with david faber. jim cramer has the week off. we have powell on thursday, ecb, futures getting a lift here over the last couple of weeks nasdaq trying to avoid its seventh straight day of losses and opec plus surprising the energy markets, agreeing to cut production targets by about 100,000 barrels per day starting in october >> ukrainian president zelenskyy is set to virtually ring the open bell right here at the new york stock exchange. we'll take you there live when that happens >>> let's begin with stocks trying to rally a bit to the shortened week of trading. we got the note about the fed over the weekend saying the u.s. can achieve a soft landing jan argues three things, some rebalancing in the labor market, that's coming along, and a large decline in inflation which they think has been particularly encouraging and they even suggest that shelter, rent growing might slow >> some things considered stickier are cooperating, at least in the short term. i think it's always been the case that it's been a tricky equation to get to

what's amazing, carl, is that has meant nothing.own 80% there is a company called rent the runway and they were a subscription people don't like subscription everything that was geared toward the different gens, the x, y, z, it made me think about fire fest. >> that's actually -- that's not a good thing. >> no. >> that's not a good thing. >> no. we've got -- mr. mcfarland is back i want him to go into the two year wouldn't that be great if he said, guys, i'm done with the cheese sandwiches, i'm going two year that's what we want. >> a lot to get to this morning. we are going to talk some mortgage rates of course touching their highest level since '08 on the heels of what yields and rates have done and mortgage demand the last few months take a look at the futures here. we will get to apple and a bunch of buy back activity today, news on google, obviously the rail strike possibility and some news trt.vs as the president goes to deoi more "squawk on the street" in a moment millions have made the switch from the big three to xfinity mo

carl: mr. speaker, i yield myself such time as i may consume. the speaker pro tempore: the gentleman from alabama is recognized. mr. carl: thank you. i rise in support of h.r. 4009, offered by delegate eleanor holmes norton which authorizes the georgetown african-american historical landmark project and tour to establish a work of federal land in washington, d.c., to commemorate the enslaved individuals whose identities we may know and unknown, who endured the forced voyage across the atlantic ocean to the united states during the middle passage. this effort is being championed by the georgetown african-american historical landmark project, a community-based nonprofit organization dedicated to honoring the enslaved and the free african-americans who work in, live in, and built georgetown. in 2019 the united national education scientific and cultural organization designed -- designated the georgetown waterfront as a site of memory for historical places associated with slavery. the bill requires

. ♪ >>> good friday morning, welcome to "squawk on the street," i'm carl quintanilla with morgan brennannd david faber. cramer is on assignment. the dow does look to take out the june low today as the selling pressure in europe is pronounced down about 2%. big swings in currencies the pound near $1.10 oil is just 50 cents from a 7 handle our road map begins with the fed fears fueling this flight to treasuries the two-year hits a 15-year high, goldman takes a big cut to its s&p target >> plus the inflation impact on corporate results. fedex remains on watch costco, for its part, says it sees, "light at the end of the tunnel." >> and shares of retail brokerage robin hood moving lower, giving up all the gains following reports the s.e.c. would not ban payment for order flow ceo vlad tenev joins us to discuss that and much more in just a few minutes >> let's start with the markets under pressure this morning. we'll talk about swings in the curtain s&ps and the pound and liz truss's economic package but a lot of this got started with goldman cutting their year-end target, they're talking a lo

"techcheck" starts right now >>> good wednesday morning i'm carl quinnty nia with deidre bosa here with me and jon fortt. what the bank of england is doing to calm the market more tech companies slamming the breaks lyft and docusign and upgrade for netflix and in-depth look at the cord cutting what that means for how you play the streamers but we begin with comments made by stanley druckenmiller delivering alpha take a listen to this. >> our central case is a hard landing by the end of '23 but i don't know i've been wrong on a lot of things i could be wrong on this but that's our forecast which is recession in '23 >> joining us here at the nyse. managing partner, cnbc lowe tony here and druckenmiller has been negative for a long time but sticking with his guns this terms of a hard landing in '23 and chastising the fed and boe or what he believes is a mistake now. >> what we saw was that the inability for the fed and chairman powell to acknowledge the fact that inflation was a concern and many had been beating the horn and further fueled by a lot of macro events, supply chain issues. now

carl, that's the news. send it back to you. >> contessa, see you in a bit. >>> meantime, metais betting big on virtual reality with this new partnership with qualcomm, our juliaboorstin has more on that for us today, hi, julia. >> meta works to build out its virtual reality business, meta and qualcomm are teaming up -- for quest products, using qualcomm's snap dragon technology meta and qualcomm have worked together for years qualcomm does power the latest quest 2 headset along with the rayban stories glasses meta shares are down, qualcomm shares are up. chip sets will be optimized for quest systems the chips will not be exclusive to meta this also shows meta's dependence on qualcomm and the fact that meta has not been able to make its own custom chips despite the attempts of its in-house silicon unit, improving chances to have competing with apple. this comes ahead of apple's event next week where we could get a peek at its first vr headset, expected to compete with quest pro, anticipated to launch in octo

. >>> good morning, i'm carl quintanilla with deirdre bosa and john ford. today, the worst day since june of 2020, how should investors be repo repositioning? we'll breakdown opportunities in cloud, chips, and fin tech to help weather the volatile pip what's the consumer telling us about the state of the economy we'll talk to brian chesky in a few moments on inflation and how that's impacting spending. and the iphone reviews are out, more on what demand is signaling to investors about where apple might head from here jon, interesting day setting up. >> it is we'll start with the market. nasdaq coming off the worst day since june 11th, 2020. this morning a couple interesting calls in fin tech. ray jay thinks paypal can surge 30% from here, writing quote we have increased confidence, they go from market perform to out perform. b of a said sofi the is the name to buy also about april levels but the street not showing the same love for block. ever core hits with credit, macro trends, reporting to weakness in seller and buy now pay later. we have talked to a lot

carl, wonderful to see you. carl: sure thing.han: this is bloomberg. ♪ riddick a: keeping you up-to-date with news from around the world, president biden the strength to stoke voter outrage leading up to november's congressional elections. he called on americans to reject the politics of donald trump and maga republicans. he warns they threaten the very foundation of our republic. house republican leader kevin mccarthy accused the president of slandering all republican voters. the u.s. called iran's response to the latest effort to revise the nuclear cord not constructive. that raises questions whether the two sides can reach a deal that would free up a rainy and oil for global markets. u.s. officials are looking at iran's response which was -- the european union. starbucks named a chief executive to be its next ceo. he is a veteran at the consumer industry and he will join starbucks next month while the longtime leader stays in charge. he will fully take over next april. amongst starbucks issues, troubling sales in china and a p

p carl: madam speaker, i i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. carl: madam speaker, i rise in support of s. 2490, the blackwell school national historical site act. this legislation championed in the house by my friend, tony gonzales of texas, would establish a new unit of the national park system to tell the history of segregated education in marfa, texas. although there was no state law that although there was no state law mandating separate schools, texas school districts practiced de facto desegregation through the mid 20th century. blackwell school was known originally as the ward school and later renamed for its long-time principal, jesse blackwell, who arrived at the school in 1922. during his 25-year tender, the school grew from one building to -- with 120 students to a multibuilding campus with more than 600 students. the original historical school building and grounds provides an authentic setting to the interpretation of history of segregated schools in texas. i commend mr. gonz

carl >> kristina, thank you >>> disney making a number of events at its fan event.n loeb has had demands. >> disney's ceo seemed to find his voice as he pushed back on dan loeb and got loeb on board for at least part of his vision. he says he has a plan to, quote, restore espn to its growth trajectory this is a rejection of activist loeb's call for the company to spin off espn after he disclosed $1 billion stake in the company in august. now, loeb responding in a tweet, he tweeted a link to the comments, writing, we have a better understanding of espn's potential as a standalone business and another vertical for economy to reach a global audience to generate ad and subscriber revenues. we look forward to seeing mr. pitaro execute on the growth disney shares were up on news that they're more aligned. loeb and chapek have had conversations. chapek says they're considering folding hulu more into disney plus, on the heels of a weekend full of panels and presentations about what's next for the company's various divisions including the studio and the theme parks. they ann

carl lafferty has _ don't have any control over.llegation by the scottish club into footage and it shows him making an alleged sectarian remarks was up he said yesterday they were aware of the video with the irish fa saying they won't conduct their own investigation into the matter leading into the scottish premier side. he's been withdrawn from the upcoming games in kosovo, manager saying a back injury also played a part in why he's not available. cristiano ronaldo is being charged by the fa of the footage which look to show him knocking a phone out of a fans hand. he apologised after the incident was shared widely on social media following his manchester united side loss at everton in april. cautioned by police regarding the incident in august was up raducanu will play another grand slam winner in herfirst ta raducanu will play another grand slam winner in her first ta tour. she reached the last pending a won three matches in a row since the us open win last year. in the labour is under way in london. flay briefly interrupted by a

and carl, an asthma reporting from a rainy london, a carl, i'd like to start with you. it is unusual for buckingham palace to comment on the queen's health. so they must be quite worried. it is unusual and i think that's one of the reasons why so many people are showing up today despite the rain to buckingham palace and people across the country are expressing their concern. this really is a rare state and we do not get very often statements, updating the public on the queen's health and definitely the wording in there. i mean, if you want to read between the lines, those are the words, medical supervision and, and, and cause for concern. those are certainly things that should be taken seriously. this is the country that, that i don't want to say it's been on edge but has been racing itself. the queen is 96 years old. we had that big platinum jubilee celebration this summer. and you saw so many people come out to show their love and their support for the clean and we're seeing that same thing today. she's been such a constant part of people's lives here. 70 years on the

>> morning, carl i think i am processing it in that way if you look at what was mentioned by the fedex ceo and in general what you're hearing about tech ceo talking about how they're being more cautious and spending money i think everybody is being cautionary at this time and it's rightfully so. if we're seeing with the early bellwethers demand slowing, i think that does trickle into other areas, especially the tech sector we already know where valuations are based on what's going on with interest rates. that has to play a part, especially myself. that's something i'm heavily looking into and how that's going to affect especially the tech sector. >> really? is that -- would you -- i'm looking at meta today. 146. this has been a very tough week for mega cap tech. does that change your long-term view on a lot of these names >> no, it doesn't. it doesn't change the long-term view i would maintain that the next two to three quarters we're going to see a lot of struggle and volatility in mega cap and growth and i think we'll see the cpi come up for august we're still seeing inflation relati

. >>> carl, thanks very much welcome to the "halftime report." i'm scott wapner this time the markets and the fed, are the two on the same page again if so, what does it mean to stocks and your money? we debate that we have brand-new buys from our own josh brown joining me for the hour today, the aforementioned josh brown, jason snipe, heaarrington is wi me on site and steve liesman we're going to get to the markets. i do want to send it over to shepard smith for the update on the health of queen elizabeth. >> good afternoon, we got word just about two hours before the markets opened this morning that the queen's doctors were concerned for her health the 96-year-old is at ball mora castle she's not been hospitalized. this statement released from her doctor the queen's doctors are concerned for her majesty's health the queen remains comfortable at bal balmoral as we've reported that statement, wree mains comfortable at balmoral, is a break from anything we've heard from the queen at the palace this language is deemed as significant. we've seen her

i'm carl quintanilla with jim cramer and david faber september begins and with it a selloff in bonds, metsals, oils, stocks, dow futures down 150 after four losingsessions. busy macro day with pmi on deck. nvidia and amd amd told to stop selling ai chips to china. shares take a hit at the open. >> and campbell's soup with a forecast mark clouse will join us in a few minutes. and goldman sachs says inflation has peaked but futures fall. first trading day of september investors continue to worry about the fed. >> i said inflation peaked and i was ridiculed. >> i know that i know that. >> this morning, jim, 3.52 is what everybody is talking about. >> unbelievable. i have to tell you when you think about it, for our audience out there, for fixed income, hatch your money >> 2007, we haven't seen 3.5% since 2007 >> i'm giving people advice here what are you doing >> i'm pointing out it's the first time in 15 years you've seen yields like that on the 2-year i'm doing the same thing >> mark chase of the treasury curve. >> okay. >> i am telling you i put half of the cash that i have since my w

and that there will be all sorts of different ceremonies including canon salutes as well. dick carl, and ask you the question that i just put to hannah, which is a, a bit of a, a tricky one. what do people expect from their new king who is just taking on this role? well, you can tell by how many people have been gathered outside of these official bands that have been taking place in london. the many people are anticipating and wondering what they can expect from the new king. of course, he doesn't have the luxury of taking over a young age. he's 73 years old. he's preparing has been preparing for this moment, almost his entire life. he was just 3 years old when queen elizabeth took the throne, no one in fact is prepared longer in the history of the british monarchy. we do know, of course, because he has been in the public spotlight for a long time. we know a bit about him as a person. we know a bit about him. in fact, in terms of his political views, that something that was not the case with queen elizabeth. she was not very publicly political, but that's something to keep an eye on

"squawk on the street," "techcheck" starts now >>> good monday morning welcome to "techcheck" i'm carl quintanilla with jon fortt and deirdre bosa today is now the time to double down on growth as tech slumps companies are cutting costs. we'll talk to a ceo who said they should do the opposite. oppenheimer saying now is the time to buy netflix. and the latest company hit by a cyber attack, take-two shares are down this morning. >>> starting with investor worries, the major indices coming off the worst week since june, but we did just tick positive now joining us now is jim cramer wonderful to have you back e you're on a particular mission this week, has to do with tech and how low it can go. >> yes first of all, thank you for having me. this is really important i'm out here obviously for salesforce's dreamforce. i happen to think that tech is under valued i want to know when the fed is going to be done so then the undervaluation turns into buying own say half positions on the stocks salesforce, this stock has been pummelled. the question is, are it pushbacks? are they not getting the o

biggart brian eugene bilcher mark bingham carl vincent bini >> and my father nypd truck sergeant andant major michael sean curtin. we miss you every day and god bless america. [applause] >> gary eugene bird joshua david birnbaum george john bishop kris romeo bishundat jeffrey donald bittner albert balewa blackman, jr. christopher joseph blackwell carrie rosetta blagburn susan leigh blair harry blanding, jr. janice lee blaney craig michael blass rita blau richard middleton blood, jr. michael andrew boccardi john paul bocchi michael l. bocchino susan m. bochino deora frances bodley bruce douglas boehm mary catherine murphy boffa nicholas andrew bogdan darren christopher bohan lawrence francis boisseau vincent m. boland, jr. touri hamzavi bolourchi alan bondarenko andre bonheur, jr. colin arthur bonnett frank j. bonomo yvonne lucia bonomo sean booker, sr. kelly ann booms canfield d. boone mary jane booth sherry ann bordeaux krystine bordenabe jerry j. borg martin michael boryczewski richard edward bosco >> and my uncle brian hickey, you are taken away from us. he left a void that was im