i am kriti gupta with jon erlichman.lobal media executives are gathering in sun valley, idaho for the annual conference. sonali basak joins us for the latest. you got the best assignment because sun valley is gorgeous, although raining. talk about what the theme is like given the market environment we are in. sonali: great question. perfectly sunny right now and you have investors and ceos trying to be sunny about an environment that is getting more difficult. we talked to an investor this morning saying the consumer is strong enough and that is not impacting the company's here or we invest in yet, but that may turn on a dime. for now, they are holding onto the consumer story as a reason to keep investing or believing in the story. another thing i must also mention is despite what is happening in the markets, a lot of the conversation we are hearing here has to do with the political and social environment. behind closed doors there are conversations that involve the supreme court decisions, for example, and what they cal

i am greedy group to with jon erlichman -- i am kriti gupta with jon erlichman.lla brexit down with us. it does not seem this is a fundamental trait or even a technical trade. this seems to be more macro. what is driving the stock market lower? vince: we saw big data on friday and the traders we were talking to were confused. there is a lot of selling going into the market. that lifted on friday. today it looks like buyers' remorse. energy stocks are trading and wti down over 10%. jon: let's stay on that theme. in canada, the first half of the year was a better one compared to the s&p 500 because of that outperformance of the energy sector. it makes up a bigger part of the market, about 18%, versus 4% for the s&p 500. what you make of these dynamics? whether there is growth versus value? growth had a rough ride in the first six months of the year. tech holding better today compared to the value areas. vince: i just think the whole growth story is, to me, overplayed. you are going to see sector rotations from time to time and what happens with the portfolio manage

and erlichman, who is a good poker face, didn't even blink.ckground in the criminal law. i don't have anybody on my staff, i don't know anybody on the white house staff who has criminal defense background. i need somebody in my office so we don't make mistakes." his reaction? "we're not going there, john. we don't need that kind of assistance." that was my first really serious mistake, by just buying into that. we did need somebody. mitchell and erlichman, they'd gone over the press statement denying burglars were acting on their behalf, when that was an outright lie. >> neither the president, obviously, or anybody in the white house or anybody in authority in any of the committees working for the re-election of the president have any responsibility for it. >> we never, ever thought of telling the truth. >> everybody else in the white house went along with the cover-up. no one remotely questioned the possibility of not cooperating and keeping it a secret. >> we just kept going along and getting in deeper and deeper. and doing things that were

i am kriti gupta with jon erlichman.ne company posting their best profit ever amid surging demand. chevron posted their best quarterly performance in their history, not to mention a 50% increase in buybacks. spectacular numbers from these big oil companies. how are energy reporter for bloomberg intelligence joins us. these numbers are enormous. how long does this last? >> at least until the next quarter. we are seeing a cool off in refining margins. we are seeing an improvement. chevron and exxon saw a five-time improvement versus first-quarter numbers for the u.s. side, figure on the international side. we are starting to see the first cracks in asia, refining margins in singapore drop, hitting both exxon and chevron, but the numbers will still be high and we expect those buyback plans through 2023, which are huge increases versus 2002 anyone levels and even 2019 -- versus 2021 levels and even 2019. jon: let's talk about that in the context of where oil supply is. a tight picture. much of the world looking to north amer

. ♪ jon: i am jon erlichman.aylor: as you can see, we had a three year bond auction and it was solid. we were worried about the front and of the yield curve and there is a big focus on some of the cpi data we will get midweek and we are looking at the 10 year yield as well. what is interesting in a risk off day like today, you are saying this flight to quality come back. jon: very true and you see that looking at the various stocks that make up this market whether it's energy names under pressure with oil names under pressure, travel related stocks and airlines are under pressure. you got the uncertainty on the covid front in china which is impacting the las vegas sands and technology is under pressure. staying with tech, twitter shares right now are down more than eight percent and it looks like this story will now play its way out in the courts. the news over the weekend with elon musk walking away from this deal and the twitter team ready for legal action to stop we want to get a perspective on the road ahead.

i'm jon erlichman with kriti group for. bridge manages digital infrastructure assets including wireless towers and data centers. it announced today is teaming up with brookfield to acquire dutch telecoms towers units in a deal that $17.5 billion. let's bring in marc gamzi the digital bridge ceo. this is a sizable transaction. like everything in the markets now, there are a number of twists and turns getting to the finish line. tell us about the finish line and what that was like. neil: -- marc: at the end of the process it was about partnership at the end of the day. you heard tim umoja's warning about the importance of finding strategic -- a strategic partner that understood where long-term evolution was going. our experience in cell towers going back to the early 90's was a key attribute to why we were the favorite dinner at the end of the day. at the end of the day our operational dna and ability to bring, most importantly, some things to the partnership others could not bring, with a key differentiator a, at the end of