>> no, it was on campus, fully on campus. >> so faber is on campus. >> he's having a great time at faberom europe would have a green pass, that is something where business has -- you go for any store, and they ask you for your pass can you imagine in our country the level of anger that would be generated if someone had to show a pass to get ice cream? >> individual freedoms, corner stone of what our country is built upon inflation is a really interesting story today. freeport gets cut at credit su suisse they say inflation support is going to wane. it's one of the leaders. >> that's a rebellion against the analysts who i think stock was at 46, maybe that's a better place to cut it. there are some genuine misses today. one that i'm actually kind of bummed about because i would say it's just a mismatch, grand theft auto, the new iteration. he will produce no game before its time he's sticking by his numbers, but this group has been uniquely challenged video games have been maybe the most -- other than zoom -- pandemically identified stocks >> you don't think it's xi limiting gaming time fo

report on zoom and 59, listen, we talk -- >> and now here is the host of the faber report, david faber>> that's it you don't need any of this >> it's never going away that's never going away jim. >> you don't need any of us. >> because johnny gilbert's introducing the faber report forever. you can just leave, and i'll talk >> let him do his thing. they still haven't figured out who's hosting that show, just letting you know. >> i just showed you empty chairs doing it. >> zoom went down a lot after they reported those earnings that were not well met by the marketplace. >> no. >> and they had agreed to buy 59, remember, it's .5, 53 shares, full stock deal was it was worth roughly 200. it's not worth anywhere near that it is trading well above what it is near if you were to do the ratio. this is the focus. it's a focus certainly for those who call themselves takeover stock traders or event guys, however you want to call them because many of them are expecting that zoom is going to have to raise the offer in some way, either add cash or add stock. if you were to top it up to 200 again, you

david faber gives us a primer on the the spac. >> the rise of the special purpose acquisition corp camered by celebrities an billionaires and pe firms an former executives and anybody else with an executive resume and a pulse. one of the year's biggest market phenomenons presented an opportunity for many prerevenue companies to fund very risky business plans spacs raised $83 billion in 2020 but in 2021, the early part of the year has seen an astounding $123 billion in proceeds while seemingly everyone had a spac in a dream, for many investors the performance of spacs after they announced and even complete their deal is more of a nightmare as many as three quarters of spaks are now trading at or below the listing price of $10 the spacout was questions when there were accounting practices in the sector. >> that brought an immediate pause. spac ipos fell from 109 in marg to just 13 in april. while the torrent of listings have declined there are still 443 companies and counting seeking a business combination how many will make it to a completing deal is uncertain spac sponsors could make en

i'm carl quintanilla with morgan brenner and david faber.ury secretary yellen will testify before house financial services committee we're taking you there live as soon as q&a begins dumping up once again at 4380 down a touch from the opening highs as we close out september and q3 >> we're 30 minutes into the trading session. here are three of the big movers carmax the nation's biggest used car retailer topping revenue projections, missing on earnings estimates. preowned car sales rising 6.2%, less than 7.3% expected. shares down about 10% right now. shares of bed, bath & beyond plunging as well after the retailers results missed on the top and bottom lines and also cutting its forecast citing supply chain problems and higher costs. shares are down 25% right now. but we're going to end with a name in the green, virgin galactic surging after the faa cleared the space tourism company to return to flight after completing a mishap investigation into the july mission that carried richard branson that veered out of designated air space less than t

i'm david faber with leslie picker and mike santoli. we are live from the new york stock exchange jim and carl both have today off. let's give you a look at futures as we get ready to set up a half hour from now, you can see we are -- that looks higher to me, i'm going to go with that. our road map does start with the september setup for stocks the s&p is coming off what is a seven-month winning streak the backdrop for the rally and the investor risks in the month ahead. >>> plus, out of gas, a large chunk of service stations in louisiana cite cities don't have fuel in the aftermath of hurricane ida. we'll get the latest from on the ground in new orleans and baton rouge. >>> a new so-called death tax running into new roadblocks in d.c. we will dig into the step back if the stepup tax. >> stepping back, stepping up in terms of, yeah, both, well key there. let's talk markets here. as we begin a new month after a relatively strong august mike santoli i will turn to you you have all statistics. you've already told us i know from our previou

i'm david faber along with jim cramer, we live, and carl quintanilla is live at the conference trading begins 30 minutes from now. you can see an up open, at least thus far certain the worse days since may. >> tesla's ceo says the stock price is too high. we'll have the highlights from code where elon musk targeted tax avoidance criticism. >>> hundreds of airlines employees face termination for failure to comply with the vaccine mandate. we'll be joined by ceo scott kirby in a few moments >> he was subdued. i want the boisterous. >>> we have. >> we talked a lot about tech and the move upwards in rates, so to speak anything change to for you? >> natural gas may be peak ing that and the incendiary comments from senator warren? >> i thought that was over-the-top, and i'm the king of over the top. >> we might as well listen it was during the hearings yesterday, but hear what she had to say about powell. >> over and over, you have acted to make our banking system less safe that makes you a dangerous man to head up the fed that's why i will oppose your nomination. >> many people are scratchi

. >> how about go back to disney, faber. bob chapek made some comments, if you're disney, you want growth it's a growth company, and the stock went down to 171. >> because he talked about some moderation in growth in subs >> you're back in it. >> because i love the dual model. >> adam is very bullish. >> we don't talk about espn too often. sort of how that ends. >> you know what happens tonight. >> tonight the eagles play? >> they play the cowboys. >> yeah. >> how about the reports last week, i think it was 9 athletic, jim, that the nfl prefers apple as the vendor for direct ticket? which is really the last major pac package i were i finally got the dish right now -- >> i find that if you've got apple, without, do you really need a dish? aren't you on wi-fi? >> what's interesting is. >> does that mean dave pepper makes more money >> yes >> he probably didn't go in expecting to make money. it was just about having fun >> absolutely right. >> spac land, they have been on -- you also have the strc, this robotics company. >> oh,

jim cramer and david faber have the morning off. futures steady, the market reflects on friday's weaker than expected jobs number and goldman cutting g3 estimates see spending in "hard earned path. ten-year 137 a begin with delta risk for investors. goldman downgrading outlook second time in a month and morgan stanley. >> plus a big bet buying $21 million of the cryptocurrency bitcoin as the country becomes first to accept it as legal tender. >> chips crunch. fearing global shortage to we are sift for some time. >> mentioned goldman note. talking q3 gdp 35. about a month ago, maybe six months ago saw 85. now 35 as delta in his words, taken a bigger notch out of consumer spending than they thought t. has, and the economic surprise numbers have been negative for a couple of weeks now. so you've had data falling short of forecasts steadily. atlanta fed, gdp now, realtime estimate of gdp actually got below 4% last week so i think this is a lot of the formal forecast kind of converging in this area. the other, thing about it, it makes a

i'm carl quintanilla with morgan brennan and david faber live at post nine. hawkish fed, past some of the evergrande headlines the s&p back above the 50-day moving average. >> what a week so far. we are 30 minutes into the trading session. here are the three movers we're watching darden, one of the biggest gainers on the s&p 500, after strong first quarter results, the company raising its 2022 outlook. see the shares are up more than 8% restaurant tech company toast is in the red after popping more than 50% in its debut yesterday here at the stock exchange it is down about 3.5%, above the $40 ipo price. finally, watch delta douwngraded to hold. it's not hurting the stock della airplanes up 1.5%. we will discuss the travel landscape with expedia ceo peter kern later this hour >> all right turning to the fed as well, indicating that rate hike could be coming perhaps sooner than some expected. steve liesman has a recap for us nothing gets by him. whatever was said was expected by you, steve. >> i think that's right, david carl called it hawkish and i don't want

the stock down about 5.5% on the news that have first reported by david faber. mgm i believe would have to sign off. uber shares are flying after saying they could reach key measure profitability sooner than expected. we're still just under 45. as stocks have fallen this month, there have been no earnings reports to save them but that's about to change with a couple of big reports this week and reporting season kicks off in earnest in a few more weeks. can the numbers meet the lofty expectations with all the worries that are out there bob pisani joins us now. >> hello as we approach the end of the third quarter, investors are carefully watching earnings estimates for the third and the fourth quarter for clues on how stocks will trade in the final three months of the year earnings estimates for the s&p 500 have been steadily rising and are now expected to grow over 45% versus just 25% growth expected back on april 1st actual earnings reports have beaten by very wide margins. 18 to 20% in most cases, forcing future estimates to be revised higher future s&p earning

i'm carl quintanilla with jim cramer and david faber at the new york stock exchange. got another soft premarket as we threaten to extend the s&p's three-day losing streak. today it's the airlines joining the chorus of companies warning on q3. our road map begins with those covid headwinds. delta, american, united, jetblue and southwest all trimming their outlook due to the delta surge. >> china clamps down on gaming again, tencent, and some other tech giants continue to be battered by this regulatory squeeze. >>> and shares of gamestop tumbling despite a 25% increase in sales why investors remain cautious about the company's turnaround potential. let's dive into the airlines i guess, jim the only bright spot in the case of delta, at least they do see bookings recovering somewhat in the last ten days. >> it's funny because we all know, david's talked about this endlessly that the business traveler doesn't seem to be coming back. and that's a zoom situation. this is about leisure traveling and clearly about the delta variant. what really concerns me is that when you --

unexpected that they would go and talk to an oil major, maybe several oil majors as our colleague david faberas been reporting they've been talking with several companies now chevron in response to this, they said in a statement to cnbc that they do have contingency plans to respond to many types of events, including an activist investor these plans are regularly updated in the normal course of business we engage regularly with shareholders in constructive two-way dialogue and look forward to discussing the next chapter of our lower carbon story with them later this month. now, that's key here, brian, the lower carbon story you covered this well. there is the pivot going on in the oil and gas industry, largely in response to shareholders like this nonetheless you you can see the chevron shares up about 15% this year s&p up 21% over that same time period and chevron shares trading a bit lower today after some gains in the premarket, brian >> yeah, you know we were out there with chevron at the headquarters -- it's been a month i guess, a little over a month. we asked mike werth about the activ

i'm david faber along with jim cramer, we live, and carl quintanilla is live at the conference trading

when i tried to source this thing, it was like, are you kidding me faber has the story. was like, great, he's my partner. >>> speaking of deals, zoom -- >> all over it. >> a lot of people don't care that much about this story in the journal about the government review from a national security perspective. by the way, h.r. mcmasters is on that board, and a lot of people are like, come on. so what they'll do to top off the offer so that they actually got a favorable vote. >> my stepson works for zoom, so i have to say that up front, but i do think zoom has given you the right to not use the chinese server if you don't want it. i thought this was an overreach. the fcc comment seems pretty lame to me. >> i did not hear a lot of concern in the marketplace about that it's much more the focus on will zoom raise the offer and when will they do it >> and everybody just suddenly decided they don't like zoom speaking of secure, webex is security, but cisco can't make any headway. we don't have enough to buy. it's good. >> that's a two-month low here now, at 347. a couple different

i'm carl quintanilla with jim cramer david faber has the day off.e're watching bitcoin, fed-speak, a ten-year yield breaking out further our road map begins with china, evergrande, global investors still in limbo, and nike lower on the dow that crackdown, china is vowing to root out illegal activities, as they call it, and ban cryptomining nationwide. the cdc clearing the way for mill years of americans to get the third covid vaccine shot jim was talking with the squawk gang about crypto. they are clearly of the view that transactions in crypto are illegal. >> yeah, i think a lot of the people who are backers of crypto will always be backers of crypto they remind me of fans you can tell me that the philadelphia eagles, they're great, that's what they do, and i don't mean this facetiously. people were saying this is good news for crypto. it is not. what the chinese want to know is where the money is they want crypto open. they don't want anyplace -- remember what xi is saying, data is everything. the data is hidden for crypto, and he's ending that so

i'm carl quintanilla with jim cramer and david faber at the new york stock exchange. and core cpi, less than expected futures up on news and cpi data shows inflation less hot and that's than forecast in august. >> and making an emergency ios fix to close a spyware flaw and this as the company prepares to unveil that latest phone lineup later today. >> congressional democrats pushing ahead with new tax hike plans. plus aoc making the message clear last night at the met gail la we'll dive into cpi to start the morning. year on year, 53 in line 4 core a little light. used cars down. >> finally. >> the mannheim index, david, i tell you over and giver again. something you have to follow-up a slight dip of course, we don't have anything other than saying there's a possibility. victor to be an end to have chip shortage to a certain point. i am not finding that to be the case much as i find it being beleaguering outside wholesalers. the cpi number, david, people saying find something that's not hot? it flies in the face of the bearish narrative, and i don't have any answer fo

i'm carl quintanilla with jim cramer, david faber back together at the new york stock exchange premarket is a little soft as the numb of sell side firms can under thing their u.s. equity outlook now grows to nearly half a dozen. meantime, more firms cutting q3 guidance on supply chain kbie dance. our road map begins with coinbase versus the s.e.c. faf facing legal action, coinbase accusing the regulator of, quote, sketchy behavior and of making a land grab. >> plus, car wars, ford poaches the head of apple's top secret car project and a former tesla executive. >>> and betting on payments, jpm and paypal announcing some new deals in that space. we'll get to it. first, jim, great to have you back after a long absence. >> thank you so much. >> i know you were talking about the sell side desks that were cutting their targets for the end of this year or next year. >> bank of america is probably the most threatening this may not end now but when it ends it could end badly. when i read that what it does is basically says september has been weak historically not a good month at all. october has

i'm carl quintanilla with morgan brennan and david faber.ande rolling markets around the world as asia closed, hong kong down, the dow down 17. housing data this hour let's check in with diana olick. >> carl, builder sentiment rose 1 point to 76 on the national association of home builders wells fargo index. that's a slight beat and the first gain in three months the street was looking for unchanged. sentiment stood at 83 in september of last year and then set a record high of 90 last november it dropped off when lumber prices spiked and supply chain issues hampered construction price of lumber is down to quarter of its record high from last april and builders say delivery times remain extended and the chronic construction labor shortage is expected to persist. if the index is three components, current sales conditions rose to 82, buyer traffic increased to 61 and sales expectations in the next six months steady at 81. regionally on a three month average sentiment down everywhere except in the midwest, that, of course, is where housing is mo

i'm david faber with morgan brennan and mike santoli carl and jim have this morning off. let's give you a look at futures as we g et ready to wrap up the trading week it the august jobs report reflecting worries about the delta variant outbreak non-farm payrolls were up last month well below street estimates of some 720,000 jobs being added. the unemployment rate was in line with expectations it fell to 5.2%. average hourly earnings up 4.3%. that is year-over-year you can take a look at the ten-year, and morgan, leisure, hospitality, it kraccounts far large chunk of this miss there were no job gains versus 415,000 in july, 397,000 in june there seem to be a lot of help wanted ads out in that area. the delta variant may have cut back in general sort of job growth as well, and that is a lot of the many hiss. >> which is notable given the fact that so much of this data was in the first half of the month as well, before delta picked up the pace in terms of the climb we saw as the month continued to unfold, you had the hurricane impacts, weather impacts towards the end of the

i'm david faber along with jim cramer let's give you a look at futures as we get to open the market aalf-hour from now numbers just out home prices up 19.7% in july compared to a year ago you can see, of course, jim, where we are headed here it is all about perhaps the nasdaq that's where our road map is going to start right now, actually, with the -- let's call it a flight from tech. nasdaq futures, they're down sharply. bond yields, they're up sharply, and investors are awaiting any tea leaves from fed chair powell and treasury secretary yellen who both will be on capitol hill this morning >> plus, with tech under pressure, we're live from code lisa su on the semi shortage and a lot more >> and robinhood's ceo defends the democratization of markets interesting back and forth with citadel. let's start with the markets you were talking about it at the end of "squawk box." we have a yield above 1 1/2. dollar hitting 11-month highs. continued concerns about supply chain. we were talking about that yesterday. "squawk box" talked about the ports in l.a just one of so many different issues

i'm carl quintanilla with jim cramer, david faber at the new york stock exchange. in a few moments, s.e.c. chair gary gensler is with us to discuss everything from crypto regulation to china to spacs to gamification and payment for order flow lots to get to with the chair. in the meantime, futures steady. china weakness is again on the radar. nice upside surprise from empire today at nearly twice the estimate, david. >> carl, yeah, we do have a special show for our viewers today as we will devote our first half hour with s.e.c. chair gary gensler this follows his testimony before the senate banking committee yesterday. we have so many important issues to cover with the s.e.c. chair we're going to hope to move through sort of some of the following regulatory topics, crypto, robinhood, specifically, payment for order flow, the spac market china, of course concerns there as well or here over the vie structure that's used by so many u.s. listed chinese companies. want to get to the fallout from the meltdown of archegos, also esg. you can tell lots to do. with that let'

david faber has the morning often.ut the markets having a tough time repeating the best day of the month yesterday. dow's down 95. business inventories are out rick santelli's got that hey, rick. >> yes, inventories are a very important aspect of trading these days we are all monitoring some of the low inventories, especially in front of holiday season so the july business inventories coming in as expected, up half of 1% is a solid number. if we look at the entire year, it really has been all positive numbers, the smallest was in april up 0.10 of 1% as we try to replenish various parts of the pipeline of inventories. last month up 0.8 to 0.9 another thing up today, interest rates and energy prices. we want to pay close attention 1.34% on a ten-year, the area to monitor around 1.37 to 1.39% that zone is considered the best resistance, which means should we get above that area, maybe look for hotter interest rates mike. >> jthank you. we are 30 minutes into the trading session. here are three big movers we are watching s

i'm morgan brennan with david faber and mike santoli carl has the morning off just getting a check onrows the manl averages all move higher still in a tight trading range the s&p a new record high, up 0.3% h the dow also up about 98 points. factory orders are out just a moment ago, and rick santelli has that for us as well. rick >> thank you, leslie yes, our july read on factory orders up 0.4 of 1%. that's better than expectations, but it's definitely lagging. in the rearview mirror up 1.5, weakest since april when it was minus 110. we know why. a lot of issues affecting manufacturing, issues on supply chain. august auto sales weren't very solid, so you can see how leading in from july we continue to see these weaker trends and if you strip out transportation, there is a marked improvement so we could see how airlines and airplanes and aerospace enter into this. it's up 0.8 of 1%. july final on durable goods at minus one-tenth of 1% which is the same as the mid-month read if we look at ex-transportation on durables, the same effect it pops up to up 0.8 as well finally, capital goods o

i'm carl quintanilla with jim cramer, david faber at the new york stock exchange, dow futures a bit softancing, look for some heavy balancing as e head into the last official week of summer covid, boosters and the economic recovery the fda meets to debate allowing

i'm carl quintanilla with jim cramer, david faber back together at the new york stock exchange premarket outlook now grows to nearly half a dozen. meantime, more firms cutting q3 guidance on supply chain kbie dance. our road map begins with coinbase

i'm carl quintanilla with jim cramer and david faber at the new york stock exchange.e threaten to extend the s&p's three-day losing streak. today it's the airlines joining the chorus of companies warning on q3. our road map begins with those covid headwinds. delta, american, united, jetblue

i'm carl quintanilla with jim cramer, david faber at the new york stock exchange. months amid the ongoing growth concerns related to the pandemic. more importantly, though, today is the 20th anniversary of the 9/11 attacks and all morning long we are going to honor the lives lost that day. we're going to remember the heroes who responded

i'm carl quintanilla with jim cramer, david faber at the new york stock exchange.fication and payment for order flow lots to get to with the chair. in the meantime, futures steady. china weakness is again on the radar. nice upside surprise from empire today at nearly twice the estimate, david. >> carl, yeah,

jim cramer and david faber have the morning off.goldman cutting g3 estimates see spending in "hard earned path. ten-year 137 a begin with delta risk for investors. goldman downgrading outlook

i'm david faber along with jim cramer let's give you a look at futures as we get to open the market a course, jim, where we are headed here

i'm carl quintanilla with jim cramer and david faber at the new york stock exchange. hot and that's than forecast in august. >> and

i'm david faber with morgan brennan and mike santoli carl and jim have this morning off.as we g et ready to wrap up the trading week it the august jobs report reflecting worries about the delta variant ou

i'm carl quintanilla, along with david faber and jim cramer has the day off.ent shutdown

i'm david faber with leslie picker and mike santoli.tock exchange jim and carl both have today off. let's give you a look at futures as we get ready to set up a half hour from now, you can see we are -- that looks higher to me, i'm going to go with that. our road map does start with the september setup for stocks the s&p is coming off what is a seven-month winning streak the backdrop for the rally and the investor

i'm carl quintanilla with jim cramer and david faber the dow is down just ten points from last friday'slly f

i'm carl quintanilla with jim cramer david faber has the day off.ande, global investors still in limbo, and nike lower on the dow

ahead be dealt with in the da>> david faber, of cnbc, and run in santa, our colleague as well.t the end. the economy at some point will come back. money can be replaced, human loss today, however, and we still do not know the full proportions of that human loss, that's a tragedy that will be with us for some time. the new york city firefighters union still saying that at least 200 members of that union -- 200 of you new york's finest who are down there for our urgency and rescue details, right after the initial planes went into the world trade center. they are missing and presumed to be dead tonight. we do not know how many people are still trapped in the rubble of those to 110 stories buildings. nor do we know the death toll for that matter in the pentagon, where the fires continue to burn. just want to repeat, in new york city, for those of you are listening to us here, or in new jersey, please contact this number if you can offer assistance. this is the health care association of new york state trade group. appreciate that if you four to emergency officials. information that