so i remain long i continue to think that on a pullback i'd still want to be in freeport mac when you look at it, this is the biggest and baddest out there, and i think this is the company you'd want to be in so you can have that exposure as we go forward over the next couple of years. >> i think you made some trades some call activity here in fcx. >> yeah, i absolutely have as a matter of fact we've seen all kinds of different activity in different months going out into the future. i tell you what, we've seen aggressive call buying in here there's no doubt about it. that's where i am right now, after the run, after some of this pullback we've seen, i think right now the smarter move for me would be to be in the options. for right now i'm just in the calls. >> okay, bonawyn when you look at the copper market or freeport mac moran maybe specifically, how much do you think we can glean indications of what the economy is doing do we see that correlation right now as we have in the past, or is there some separation going on there where you don't want to read more into the price action in

and freeport mac moran is down more than 7% in today's session. a look at the company as metal prices fall steeply .mark: that is our stock of the hour. amanda: we are watching stocks perform somewhat weekly across north america, negative action and almost every subgroup of the s&p 500, modest strength from consumer discretionary and real estate. the real decliners, material and energy. energy has been a leader the last two sessions. today on the downside even though the price of oil is elevated at historical levels. we are seeing some reaction to the stronger retail sales coupled with a weaker cpi. it could be the inverse of bad news is good news formula, which is to say good news means the fed may have to pay attention sooner rather than later. we are not seeing massive moves in any one direction today. we are watching the 10 year treasury yield. 1.32. a fairly big move on the day and we are also seeing a move in gold that is probably worth noting. we have been watching ci financial on something of an acquisition spree. today, it added another n

freeport stay there >> nadine. >> awy strategy.e buy. >> jeff. >> penn national gaming. it's 40% off the ties,now trading at 25 times. with china hitting the big casinos, penn with 100% revenue exposure, i think it's a good entry point. >> guy >> mel, if i'm going to spend 20 minutes in the can, it's because of cmg not bynd >> thanks for watchi ft.ngas don't go anywhere. bonus hour of "fast money" bonus hour of "fast money" coming up.e. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. it learns with you, their award-winning content so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn ♪ growing up in a little red house, vion the edge of a forestarn in norway, there were three things my family encouraged: kindness, hones

the highs, and particularly freeport, yet copper prices are pretty much stable and down a little bit and up today and i think it will remain stable unless, unless enamored with cliffs because steel prices were just so elevated and with iron ore continuing to crush. i'm actually looking for the exit volkswagen got down to about $30. to me, that's an obscene level particularly compared with the other auto companies dick's i just added to this morning and that was down on the nike news, yet dick's is doing quite well extraordinarily cheap and the guise is very good and put some cash back to work i don't believe we're out of the woods yet in terms of the market because we've now seen two name-brand companies and by that i mean fedex and nike come out and talk about supply chain issues which according to the companies i'm talking to are worsening and not getting better and we're also seeing margins under pressure due to labor. so to me that will be more of the message during the quarter which will take some of the multiple things that we've seen out of the market. so i will probably go ba

freeport mcmoran is a topped out at $45 way back in may.s sort of a top of the overall global reopening story that's when, for example, retailers hit tops retailers and industrials hit the tops and many names, freeport is essentially 30% off the 52-week high the s&p 500 not having a good day and essentially back where we were in july. in the end of july as a matter of fact. we are still up 15% for the year these whooshes get people a little out of joint but we have had a great year up notely back to you. >> thank you let's go now to seema mody >> on a day like this it is important to look at technicals. bring in the team. boris sloshberg and ari wald boris, the 10-year at 1.3. what are you watching? >> watching i think nasdaq, as well at the 15,000 level. this is some ways a predictable correction in a long time. almost everybody starting to see signs of weakness over the last week or so because stocks were not going up at nearly the pace they were in the summertime. nasdaq exhausted itself. coming down now. it reacts the most to increase i

>> 2016 was a good time to buy freeport i do want to say to, you know, what bryn said we've got to geticient with battery production and evs i think there comes a tipping point where we'll need more of this and i think that we're also on the back of amanufacturing rebound. we were in a manufacturing recession globally in 2018 and 2019 we're bouncing back not just from a pandemic but from two years where we had lower output. so i think there's some room to run here, particularly in the industrial metals. >> i wanted to give you props there. $4.50 to 35.glift. let's get to dom chu >> up 17%, 5.25 million shares of volume. headlines coming out of reuters that private equity giant apollo global management has offered to acquire tronox holdings for about $27 a share in a cash deal that's according to source familiar with the matter those headlines did shoot the stock up roughly 20% at one point, at which point it was halt forward volatility in trading. it's since reopened up about 17%. this is a big maker of titanium dioxide products the stuff that makes paint pigments and turns paint white

flood advisory don't affect, flash flood warning from the freeport area towards galveston. i'm sure we will see houston in a flash flood warning and all along lake charles because the ground is saturated from idaho so anymore rain is not a good situation and if you look at the track it is going to sit and spin for the next several days and not moving very quickly at also the legacy of the storm is going to be heavy rainfall event. we will see the potential for storm surge and gusty wind but it will be the rainfall that could be the potential catastrophic damage and it is going to move there is that were hit hard by i know just a couple of weeks ago. the forecast radar will show you the potential for heavy rain today, thursday and friday so additional rainfall, look at louisiana, this area was hit just a couple weeks ago from it almost category 5 storm so that is my concern in texas, louisiana, we have to watch you and the threat for tornadoes, these tropical tornadoes and louisiana is already an area that has had catastrophic damage so this is not a good news situation at a

they are going to activate their pumps at their freeport facility. this will help with a here in the bay area. safety alert working at recology is more than a job for jesus. it's a family tradition. jesus took over his dad's roue when he retired after 47 year. now he's showing a new generation what recology is all about. as an employee-owned company, recology provides good-paying local jobs for san franciscans. we're proud to have built the city's recycling system from the ground up, helping to make san francisco the greenest big city in america. let's keep making a differene together. tasha, did you know geico could save you hundreds on car insurance and a whole lot more? hmm. so what are you waiting for? hip hop group tag team to help you plan dessert? ♪ french vanilla! rocky road! ♪ ♪ chocolate, peanut butter, cookie dough! ♪ ♪ scoop! there it is! ♪ ♪ scoop! there it is! ♪ ♪ scoop! there it is! ♪ ♪ scoop! there it is! scoop! ♪ ♪ shaka-laka! shaka-laka! ♪ ♪ shaka-laka! shaka! scoop!. ♪ ♪ choco-laka! choco-laka!...♪ geico. switch today and see all t

you bought freeport mcmorran, you bought bhp and vale. those are all down substantially over the last month. bhp is down 20% in the month vale is down 23% in a month. rio tinto is down 27% since the beginning of august. tell us about the moves that you've made and what the statement is that you're making. >> well, i think a lot of these, scott, really started getting hit when people were betting on how big the stimulus package would be and they were sort of haircutting it against afghanistan and what was going on as far as political capital so i think some of these were just overdone, and i do think that there will be demand for exactly what freeport and vale and in particular bhp and rio tinto, as well notice these weren't just gold mining plays or anything like this these were metals and minors they think were the necessary parts of some sort of construction that's going to be going on, scott, but maybe that's a lot less than it would have been a month ago. so they took a haircut, like you say. the average was close to 20% on these. i t

copper is down nearly 3% speaking of which, while the dollar continues to advance, freeport-mcmoran, one of the worst performers today rio down arcelormittal. freeport down more than 7% this will be something to watch as these come off the boil a little bit meanwhile, some of the shares of ev-makers also moving lower. lordstown and fisker both down 3% to 6% bank of america downgrading the stocks today lordstown to underperform. fisker to neutral. we'll have more on ford's electric vehicle in a moment a large focus for investors has been these big captech names faang has dominated. maybe too dominant maybe time to shift the focus and look at the names that are the future of tech rather than today's staples. goldman sachs launched the future tech leaders equity etf they are focusing on smaller emerging tech companies. if it sounds familiar it's similar to ark investments which has a number of the forward-looking innovations. how will they differentiate themselves joining me is brook dane from goldman sachs asset management and the manager of the fund. good to have you here, brook let's

mcmoran, barratt gold all sharply lower freeport is down 5.9%. let's do a check on the markets because this really is a turnaround thursday, the dow up .1%, and the s&p 500 and the nasdaq up a quarter of 1%, once again we're seeing strength come back to those tech names, those big tech names are about a quarter of the s&p 500 a quarter of the overall market so they pack a big punch and it seems to be doing that at this hour. the closing bell rings in 49 minutes, and we'll be back right after this. (vo) while you may not be closing on a business deal while taking your mother and daughter on a once-in-a-lifetime adventure — your life is just as unique. your raymond james financial advisor gets to know you, your dreams, and the way you care for those you love. so you can live your life. that's life well planned. hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downto

mcmoran for example, really experiencing a major sell-off here for freeport, fcx is down about 7% you have anglo american down 6%, because they have exposure to the chinese industrial and of course the builder's market there, so as you flip it over to another commodities, west texas intermediate, crude oil tumbling on concerns about the global economy. these one day here, and one chinese company that is causing all of this so we'll take this tenor at the moment and simply say, look at this on the other side. could this be a buying opportunity who knows but we do have crude down 2%, but what a year has been for energy stocks which are all getting hit today and a lot of people thought last week, did did i miss it? well you can see some of these names chesapeake, b:b, chevron all moving lower at the moment but i did want to also point out that year-to-date, crude is up 48% and year-to-date, natural gas is up 100%, so any kind of sell-off is just skimming off a little bit of the froth here. growth names in the tech sector as we look at it right now i already mentioned apple here, apple lo

. >> asÍ estÁ la calidad del aire en san francisco, san josÉ freeport. >> todo parece apuntar que elrgo de la regiÓn incluso en san francisco, estas condiciones en vivo, estamos viendo un poco de esa lluvia y realmente todo te bid a este frente frÍo que se estÁ trayendo los fuertes vientos incluso tambiÉn a lo largo de la costa esto estÁ llegando mucho con la calidad del aire especialmente empujando el humo mÁs hacia el este y esto va a mejorar en los prÓximos dÍas, por ahora vamos a ver cÓmo estÁn las condiciones actuales, temperaturas frescas en la zona actualmente estamos viendo temperaturas en los 60 en los gatos 63 (informaciÓn en pantalla) francisco 63 y mÁs hacia el interior en 70 en san josÉ. y bueno estas temperaturas frescas se mantendrÁn durante los prÓximos dÍas mientras pasa este frente frÍo tambiÉn se espera que aumenten los vientos la velocidad 20 a 25 millas por hora especialmente hacia el norte de la regiÓn, incluso tambiÉn en san francisco, y a lo largo de la costa en las prÓximas horas, cambia un poco el panorama y aumentan los vientos a partir del martes a eso de

in freeport, nshg, teacher felicia with a hug at bay view avenue school of arts and sciences. back in beaufort, 4-year-old kinley with her brother now ready. her teacher miss joy right there and their dad saying, he hopes everyone will take care of each other this year, just like big bro brody did with his sister. >> and we hope so, too. i'm david muir. i hope to see you right back he

and an exclusive freeport from eastern democratic republic of congo, where people say rebels are operating with impunity and security forces overwhelm. ah, thank you very much for joining us. israeli police have caught 4 of the 6 palestinians with skates from a maximum security prison on monday to remain at large. the men had escaped by tumbling their way out of gib bow, a prison in northern israel. the jailbreak prompted a large scale man hunt bye. these really army and law enforcement agents. one of the 4 prisoners was been recaptured is zachary, as by d, u, as a high profile figure in touch has on doing the same art, highest re great brigade slides. harry faucet in west jocelyn for is harry what more details you know about how these prisoners were recaptured? well the latest to to be recaptured. bady and one of the other 5 palestinian islamic jihad members who comprise the rest of the 6 who escaped on monday. that's mohammed al our day and they were picked up close to the town of nazareth in northern israel to the east of nazareth. we understand in a lorrie park, there was an attempt, i

liverpool has always been a strong trading partner with the us, and actually, with the liverpool freeport gives us the chance to exploit that trade even further in the months ahead. so it would be better if that free trade deal could be done with america. wasn't that the whole point of brexit, to do a deal like that? i think free trade deals, obviously, are the best way for our countries to trade with each other, without barriers being in place. however, that's not how the world works. well, there have been us concerns about britain keeping to brexit commitments on new checks just here in the irish sea. president biden�*s not so keen on doing new trade deals anywhere right now. a free trade deal with the usa was supposed to be one of the most coveted prizes of post—brexit global britain. doesn't look like it's going to happen for years now and, right now, the focus of most is on the crisis in some of the basics of world trade. the pandemic has gummed up the flow of goods from china at the most sensitive time, says this retailer. we've got a lot of christmas products made in china. 0ur sup

. >>> last but not least here, bank of america getting bullish on freeport mcmoran.ay to 39, grasso? what do you think? >> yeah, this is at the epicenter for all inflation worries and woes, and everything china related. i would think this still has a quarter or so of the transitory word as a tailwind to this name. if you still believe that all those pieces are still in play and most of the market does, i do as well, this one could probably ride higher as well >> guy >> i like it obviously there's an energy component here that was a drag, now probably providing a bit of a tailwind look at the moves in the u.s. steel over the last couple weeks. it's extraordinary how quickly they go down, but this is the ride type tom upgrading this i like the call. >>> here is what's coming up next on "fast money." >> announcer: rob slimmer is here to chart out where the group could be headednext. plus netflix says game on. the streaming giant is leveling up, making a big bet on gaming wee t at a'vgothnd a lot more when "fast money" returns. you founded your kayak company because you

. >>> shares of freeport falling today.re looking for a turn around. >> traded about 2.5 times its average trade. institutional buyers included 16,000 of those for $1.45. it lksoo like this institutional trader may be high lighting august >>> up next, final trade so you don't lose sight of the big picture, even when you're focused on what's happening right now. and thinkorswim trading™ is right there with you. to help you become a smarter investor. with an innovative trading platform full of customizable tools. dedicated trade desk pros and a passionate trader community sharing strategies right on the platform. because we take trading as seriously as you do. thinkorswim trading™ from td ameritrade. that building you're trying to sell, because we take trading as seriously as you do. - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. if i could, i'd ten-x everything. like a coffee run... don't just sell it. ten-x it. ♪♪ energy is everywhere... even in a little seedling. whi

freeport is up nearly 5%. it is in line with copper. the demand picture have a more constructive you today. thanks are higher too. there is a big rebound rally for everything reopening and reflationary. alix: thank you a lot. setting us up for the fed which is about two hours away. our correspondent is back. set the stage. >> we can show you the issue for jay powell. the latest inflationary numbers -- the pce numbers that the fed follows, the growth numbers are falling. inflation numbers are rising. where they fit in there? do they keep stimulating to fitting growth, or do they cut them back? that is the dilemma for pal company. -- how -- that is the dilemma for jay powell and company. we will certainly ask what the confidence level is that inflation will be transitory. it is faster than they had anticipated. they need upgrade that. they need to decide whether they will hint at a taper coming up later in the year. we also will ask about the idea of conflict of interest with some of those guys trading. guy: i wonder how many more press c

our houston station, ktrk, battling the roaring winds in freeport as nicholas loomed. >> we have a long way to go tonight. >> reporter: nicholas leaving more than 300,000 customers without power across the state. the night sky by bay city illuminated pink by power surges. lake jackson, pitch black. you can see the exact moment galveston goes powerless down the seawall. we were there hours earlier and could feel the powerful winds beginning. the front shield of nicholas has just started coming in but the storm is still more than 100 miles to our southwest and you can just see that irritated gulf of mexico. this is only the beginning. in matagorda, the flooding turning this parking lot into an extension of the bay. the top of this gas station rocking precariously before crashing to the ground. port o'connor shredding before nicholas even made landfall. >> roofs off, trees down, it's coming. it's built up big. >> reporter: that high risk of flash flooding the one that we were warning about, well, 14 inches, look like us this on ra drone in galveston. my concern is along the state line, may

global reopening story is essentially topped out in may and june and looking at the proxy names, freeport mcmoran, a classic example about 30% off the highs that they hit so if you look at materials and energy the stocks are down and freeport $45 back in may. those are weaker today here. here's the sectors here. banks, energy, tech and china of course a big concern a lot of debate about evergrande and whether it's systemic risk level heads think that it is not and the chinese will step in on that there's the steel corporations weaker as far as the energy stocks goes similar situation. topped out that while ago. xle is a big mover here. apache global names similar situation with the consumer cyclicals ford and general motors also have been weak in the last several months same situation with the retailers like tapestry and gap. consumer cyclicals not big industrial cyclical type moves and then the industrial names. similar situation. caterpillar down 5%. the point here being not to minimize the down day but this is a rolling correction, very lanlg parts of the s&p 500 down roughly 20%. take

and we've got a high risk of flooding port o'connor, texas, to freeport. for new orleans, flash flooding, rainfall amounts anywhere from 7 to inches, but we could have isolated amounts of 20 inches of rain, lake charles, alexandria, a heavy amount into new orleans and houston, as well so flooding will be the thing that we are most worried about which, of course, these areas have been hard hit, especially southwestern louisiana >>> meantime, the nation paused over the weekend to mark 20 years since the terror attacks of 9/11 led by solemn tributes at the site of the world trade center, the pentagon and shanksville, pennsylvania. today was also a significant one in afghanistan where the resulting war just wrapped up two decades later. nbc correspondent richard engle has made his way back into afghanistan. he joins us from kabul this morning. richard, good morning. >> reporter: good morning, savannah behind me, especially after the day after the anniversary of 9/11 may be one of the most jarring images and juxtapositions in the world right now. this used to b

but hurricane warnings in place towards freeport, and tropical storm warnings from port arthur on into houston for this current hour. but rainfall amounts, you can see the previous 24 hours, much of the heavy rain remained just offshore. we'll now gradually begin to see that heavy rain encroach on to some of the major metro areas and houston will be one of the first to see first rounds of heavy rains to see the outer bands of the storm try to push in toward houston metroplex and certainly could see 4 or 6 inches across houston before it is all said and done. upwards of 12 plus million americans under flooding alerts. and we'll watch the progression of this because we do expect this to be a high risk day. that tmagenta color you see tha at 4% on high risk days and that is responsible for about 40% of fatalities. and we know that this sort of a setup was in place across portions of the northeast where we had remnants of ida bringing with it tremendous rainfall and the concern is of course houston another major metro area quite a bit of assault, quite a bit of concrete and a lot of these

that's going to be port o'connor to freeport. again, another landfall of a tropical system. hurricane right before a landfall, but i don't think it's going to be a big wind storm. the biggest issue will be what the rain does. houston is so flood-prone as we've seen in years past. >> bill karins, thank you very much. please keep us posted on this. >>> still ahead, president biden heads to california to campaign and support governor ga viv newsome. tomorrow's recall election and the impact it could have nationwide. >>> before we go to break, we want to know why are you awake. i'm your reasons to waytooearly@msnbc.com or tweet me @jonlemire. leave out the "h." we'll read your answers later in the show. we'll read your answers later in the show and a partner who includes 5g in every plan, so you get it all. tired of clean clothes that just don't smell clean? what if your clothes could stay fresh for weeks? now they can! this towel has already been used and it still smells fresh. pour a cap of downy unstopables into your washing machine before each load and enjoy fresher smelling

i think right under the infrastructure headline is names like alcoa and freeport macmoran and u.s. steel >> mike, what is your take. >> in addition to materials, names like that, i think some industrial names might be poised to benefit as well i mean first of all, when we think about infrastructure, we should probably be thinking beyond just these one-off incidents and also be thinking a little bit about whether we do at the end of day get a big infrastructure package and that could be a tail wind for some stocks that are not like the market trading at all-time highs like caterpillar, that is one of the names that i might take a look at. although technically and this is where i have to defer to guy, it is not looking that great. i look for points of support there. but i do think that this might be a better opportunity provably than it has been when you consider that the stock hit its highs a little bit ago. >> let's talk about infrastructure and a infrastructure bill passing. the monster storms overwhelming our power grid as we saw our roads an rails and ports you name it. let's br

i think that if you still had freeport trading, cleveland cliffs at 26, valet at 23, the market would be more concerned we believe what powell is saying, that's why it's not that concerning >> okay. i mentioned these calls on mega cap tech, we do have some news from one of them facebook, julia boorstin with that, julia, what do you have for us >> well, today facebook is under veiling its smart glasses that have been in the works for two years since it partnered with eye wear giant luxotica. they're called ray-ban stories, they're just a hair heavier than ray-bans you can use voice control to take aphoto or record up to 30 seconds of video there is an l.e.d. that blinks and a sound to warn those around me that i am recording then you can download the content you've captured to an app and then share it on facebook or an instagram or keep it on your phone now, here is the surprise with these glasses. there are speakers in the side and a microphone so you can connect them through bluetooth to your phone and then listen to audio or make phone calls so they're effectively an alternative to

>> freeport. the start to reverse back higher, the volume in the commodities picked up, i think goes to the old highs. >> you're going heavy in these commodities. you talked about cleveland cliffs i'm going to call you heavy metal weiss. >> there you go. how did you know. >> that does it for us "the exchange" begins now. >>> thank you, brian hi, everybody. i'm kelly evans and here's what's ahead this hour another day to kick off the month of september investors ahead of the big jobs report on friday is tapering still on or not? we've got strategies and names that are paying, are cheap, and are apparently fed proof and if hiring is slowing, why are so many big companies going on major hiring sprees we tally the thousands of new job openings nationwide. apple is hoping to be your one-stop medical and financial hub, is tiktok killing facebook, and what kathy wood means by transparency >> kelly, i mean investors and traders are maybe on edge but they're not on edge by that much yeah, the market's kind

. >> steven weiss, final trade >> freeport.back higher, the volume in the commodities picked up, i think goes to the old highs. >> you're going heavy in these commodities. you talked about cleveland cliffs i'm going to call you heavy metal weiss. >> there you go. how did you know. >> that does it for us "the exchange" begins now. >>> thank you, brian hi, everybody. i'm kelly evans and here's what's ahead this hour another day to kick off the month of september investors ahead of the big jobs report on friday is tapering still on or not? we've got strategies and names that are paying, are cheap, and are apparently fed proof and if hiring is slowing, why are so many big companies going on major hiring sprees we tally the thousands of new job openings nationwide. apple is hoping to be your one-stop

because they are at the bottom of the cycle so i have enough cyclical exposure, cleveland cliffs, freeportt for me. i'm not sure the cycle is going to continue. we saw ppg, prices pressured so that is why i sold it just don't need it any more in the portfolio. >> okay. oracle shares up almost 40% this year very quietly it reports earnings next week. we'll give y touhe trade ahead of those numbers we'll do it next (vo) introducing 48 square centimeters of earning potential. flawlessly designed. undeniably versatile. unlimited 2% cash back. this is the card built for... ...real life. (dad) she's gonna be a drummer. (cashier) yeah she is. that's gonna get loud. (dad) right? (vo) the new wells fargo active cash visa credit card. unlimited 2% cash back on purchases. that's real life ready. (vo) at t-mobile for business, unconventional thinking means we see things differently, so you can focus on what matters most. whether it's ensuring food arrives as fresh as when it departs. being first on the scene, when every second counts. or teaching biology without a lab. we are the leader in 5g. #1 in c

liz: brian, again, i'm looking at freeport mcmoran, so i don't know if we can put up some of the miners and some of the names really in the sweet spot here up 118% year-over-year. this is a big move. are you looking at any specific subsectors in this area people can profit from? >> well i think that the situation has just started and number one, again i mentioned the supply constraints and many of the places in the world that have been traditional sources of large parts of our supply, places like chile, places like peru, those places are arguably becoming tougher to invest in due to a government perspective on the mining industry in general, both supply constraints due to grades becoming lower, total production becoming lower, and at the same time, without copper, there is nothing without copper, the trillions of dollars of stimulus being talked about in places like the united states and in fact, in every country in the world, that just doesn't happen. this infrastructure spending and the type of infrastructure spending that's taking place benefit copper to the supply and it's just putt

like invesco and mining and materials names, commodity names, things like new corps down 7% and freeport) at t-mobile for business, unconventional thinking means we see things differently, so you can focus on what matters most. whether it's ensuring food arrives as fresh as when it departs. being first on the scene, when every second counts. or teaching biology without a lab. we are the leader in 5g. #1 in customer satisfaction. and a partner who includes 5g in every plan, so you get it all. without trade-offs. unconventional thinking. it's better for business. we see access to fresh food being the global norm, not the exception. at emerson, our cold chain software and technology keep perishable food at proper temperatures, to assure its safety and quality. emerson. consider it solved. trades. >>> what could chinese developer evergrande's debt crisis mean for u.s. investors top market expert breaks down the situation. details on tradingnation.cnbc.com more "squawk on the street" coming up. it's a wishlist on wheels. a choice that requires no explanation. it's where safe and daring seamle

freeport gets cut at credit su suisse they say inflation support is going to wane.ts 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 for kids? >> look, nba 2k is very big in china. i think yes, the overhang of xi, it's very hard to figure out where it isn't roadblocks where people make games. >> it's three hours a week if you're under 18. and only one hour a day, friday, saturday, sunday. >> would you tell me that they actually know? >> i think they might be able to figure it out. they're relying on the companies to make sure of it, and the companies do know. >> and every call -- >> shut them down. >> if you call china, you should presume that

the xlv is already trashed freeport mcmoran is the one i watched in that group.s that we've probably seen the worst for that group. i'm not so sure, but i would be more concerned in the short-term, at least, with what's going to happen now that apple and facebook are looking more vulnerable than they have in a while i'm okay with it we're still up 18%, year-to-date the spx, the index is only 2.5% off the high and i think people need to keep in mind, year-to-date, only 78 s&p 500 stocks are down. so it's 5-1, you know, in terms of like the names that you hold being green. we still look very good overall. but nobody should be astonished if this weakness continues it's, some would say a long time coming, and it's definitely deteriorating from the perspective of the internals so, that's really, to me, been the big takeaway from this week. >> yeah, certainly, it's the biggest stocks actually leading the downside right now banks are actually firm. so lots of mixed messages in flp but to sell or not to sell stocks ahead of a possible capital gains tax hike that's the qu

all of them topped out in may, freeport, mac moran, a lot of the steel companies, dupont, mosaic allse companies generally. so what you want to watch here is the ones that matter, which is of course the health care, the technology communication services companies those are the growth areas and if you look at the sectors here, you see the market materials, industrials, which is the cyclical group here, and the reopening trade tied to the reopening trade, all in the week they're the most off of their 52 highs. the s&p is less than 2% off its 52-week high health care, technology, and communication services they're a little better. this is just as we were going into the open. so tech is doing a little bit better than that the key here, carl, it's the cyclical groups that have already anticipated this slowdown the market's already there one reason 3m is essentially on the upside back to you. >> as we go to break, time for the bond report. let's take a look at how treasuries are faring this morning. got the ten-year right around 132 or so. dow up about 200 as we are coming off the worst we

freeport margining gains and losses after analysts at credit suisse have downgraded with a underperformey think that will revert back lower. as a result, copper producers could be under pressure there. watch the remarket trade moving between gains and losses there look at shares of oatly and beyond in the world of plant-based foods. out milk with an outperform rating and beyond meat with a market perform rating more rneutral. they think oatly has a lot more runway and maybe beyond meat could see some market share losses they think there is a more attractive entry line later on take a look at some is of those chinese internet names we've spoken without kind of moving to the upside netease, the exception and a lot of these big cap tech names into its portfolio up almost 2% some of those could be easing but we know they have a lot of ground to make up to get to where they were in february or march this past year >> that is true, dom i'm going to change the subject. >> okay. >> i'm very interested in everything you just said but it is friday. coastal carolina against kansas and virginia and

de lluvia para poner en perspectiva el objetivo nicolÁs en esa zona, en houston seis pulgadas, en freeporta lluvia llega 470 millas de distancia, en panamÁ sitio estÁ lloviendo y la lluvia estÁn "nicolÁs" para que veÁis lo lejos del centro un sistema tropical. va a seguir lloviendo, vigilancia por inundaciones y bandas de lluvia producen algunos tornados y con la lluvia no se ve y de noche menos, de aquÍ la importancia estar prevenidos. estas manchas nos muestran de cuatro a seis pulgadas y va seguir lloviendo llo que puede traernos problemas en zonas donde quizÁs ahora no estÁ lloviendo pero los rÍos y riachuelos seguirÁn subiendo, las inundaciones siguen siendo el mayor problema con este sistema que todavÍa no quiere irse de todo. alan: seguimos hablando de "nicolÁs". de un momento a otro se instalarÍan cercas de temporales en quien estÁn en marchar este sÁbado, el evento ya genera una retÓrica de violencia en internet, autoridades emiten orden de emergencia quien darÍan vigor durante la protesta para que uniformados de otros cuerpos actÚen como agentes especiales en la protecciÓn del co

goldman sachs rounding up the top 5 or 6 and freeport-mcmoran, we have a micron tech at the bottom ineaded by applied materials, micron etc.. none of the big techs on the nasdaq list of winners, the dow is up 176, that is half a percentage point. up 174, 55% higher, the yield is one.32%. the news of 8.3% producer price inflation did not affect interest rates this morning with gold $17.93, oil $69 a barrel, and natural gas may be down a little but the price of $5 is very high, highest in 7 years. that suggests inflation this fall and enter when you have much more expensive natural gas, national average for a gallon of regular gasoline is $3.18 and california is still the most expensive in the continental united states, $4.40 a gallon. one of the greatest comeback stories, cantor fitzgerald occupied 5 floors of the world trade center and lost all of their employees who reported to work on september 11th. 658 people in total. lauren spoke to the ceo about that loss, change them perseverance, 20 years later. honoring the firefighters who lost their lives trying to save others, talking to

issue and with any landfall in the gulf we worry about storm surge, three to five possible up to freeportle piece of good fuse out of that. we'll be watching nicholas throughout the day today as hefty rain will be moving on shore. also our friends in the northern plains with strong storms an the summer that won't end, hot this week everywhere in the country. that is not getting the tropical rains. ridiculous. endless summer. you're watching "morning joe." we'll be right back. "morning jo" we'll be right back. you've been taking mental health meds, and your mind is finally in a better place. except now you have uncontrollable body movements called tardive dyskinesia td. and it can seem like that's all people see. ♪ some meds for mental health can cause abnormal dopamine signaling in the brain. while how it works is not fully understood, ingrezza is thought to reduce that signaling. ingrezza is a prescription medicine used to treat adults with td movements in the face and body. people taking ingrezza can stay on their current dose of most mental health meds. don't take ingrezza if you're al

south of freeport, but the worst of the storm is east of the center of circulation which means louisianaway 60-mile per hour sustained winds, it is a strong tropical storm but again, regardless of whether it has a name of not the results are going to be the same and that is flash flooding and the potential for upwards of 15 inches isolated amounts over 20 inches of rainfall again across areas that were hit hard by ida in just a couple of weeks ago so there is the forecast radar. i want you to pay attention because we're seeing heavy rain not only today, but tomorrow into thursday and friday, all along the gulf coast, so you're going to see flash flooding for portions of southeast texas through much of louisiana, well inland, mississippi, alabama, and even the florida panhandle, we could see the potential for tornadoes as well with this system and that could cause more structural damage. radar estimated rainfall over the last couple of hours over eight inches just off the coast towards galveston and then new orleans an area without power for many, you know, a couple weeks now some folks s