>> freeport has been volatile for the last few years. you have to believe in the momentum and fundamentals. it's not just the china name. it is an overall growth name. you have to continue to maintain the positions there. but if you want, obviously if they had a big move, you have to be careful at these levels. >> i would just add, to some degree i think it is a game-changer. there's a lot of criticism about this particular package of a jufd j judgments, it's not enough to get growth above the 5% target, and ultimately the property market is the biggest problem. that said, the government has come out and -- i don't want to say put a line under things, but has put a line under things and said we're willing to do what's necessary. >> it's the whatever it takes moment. >> you could argue this is the first look at the chinese whatever it takes moment. if things get worse, they've suggested they're going to do more. they're going to support the stock market, the property market. they have a very high precautionary savings rate. the consumer d

several china-related names like freeport, caterpillar, baidu, and others like wynn, they are surging today, as is micron following its earnings and guidance to help the chip trade as well today. it does take us to our talk of the tape, where best to position inside this bull market. let's ask chief market strategist for jpmorgan asset management with us at post 9. nice to see you. >> nice to see you. >> what are we supposed to do in this market? we got -- we're done with the rate cut, this one. we're thinking about the elections, like 40 days away. it's nothing. and now we have china, which is stimulating their economy. what does it all mean? >>, so i think the combination of a proactive fed, a continued expansion in the u.s., plus some stimulus out of china putting a bottom on chinese growth is an environment where the global management continues and risk asset management can do well. i think the question for investors is, all right, we're normalizing in economic terms and interest rates, but are my portfolios normalized for that environment? we find a lot of it tends to be offsides

every ten-cent move is about $420 million for freeport.s been about $2.6 billion for them already. so i think copper does well with all the stimulus that china is throwing at everything right now. looks to me to be pretty good. it takes ten years to build a new copper mine. you have the electrification of the world, including evs and data warehouses for artificial intelligence. so a lot of demand for copper over the next two years. >> i understand you do more balanced portfolios. stocks and bonds, kind of the traditional approach. but if someone could they own the russells broadly at this inflection point, would you acknowledge the broad index is the way to go, or are there problems trying to go that route? >> we're never a spray and pray type of investor. we're a rifle shot, so we would tell everybody to take a hard look. we do a lot of interviews and a lot of work when we buy these companies individually. but the russell in general is going to have an outperformance over the next 12 months, given the history i was just mentioning. >> rya

freeport and broadcom up 3.5%.e vernova up 3% we are getting a sense of the stocks moving on the fed decision in the pre-market a chip name at the top of the list a bunch of chip names dominating the board. asml up 4% broadcom and arm and advanced and tesla up 3%. we want to take a look at the bond market. benchmark at 3.69. ticking up a few points after the fed decision here is one we want to watch the 30-year now back above 4% at 4.01 the cut seen by some as inflationary we'll talk about bonds and other moves later in the show. we want to look at oil wti is back above $70 a barrel a key sentiment level for west texas intermediate a bigger move to the upside for brent crude almost at $75 a barrel that is a key sentiment level for brent crude. and cryptocurrency bitcoin is moving 3% higher this morning. even bigger more for ether up 2% ripple up 1% as well >>> that is the morning set up we will get to other parts of the market wall street is looking to rally. let's see how things are shaping up with silvia amaro in

we're following that and that is gifting a lift to names like freeport, caterpillar. a whole host of china-based internet companies, too. they are having a pretty good day like alibaba up 8% jd up more than 13%. it's been a mixed day for mega caps overall microsoft, meta, amazon have been lower there's your picture for those names. the other side, apple, nvidia, alphabet they have been staying green the talk of the tape, where to find opportunities within this bull market. let's ask our panel the very question lauren goodwin of new york life investment, kristina goodman welcome. you're still defensively positioned you said probably sell the first rate cut we got the first cut why are you defensively positioned we've been hitting new highs >> you wrote this week, there's nothing worse than being a consensus bear and being wrong it's the worst thing you can do. everyone is cautious coming in september. instead of it being a self-fulfilling prophecy, it's wrong. you know, there's some new news. this china stimulus is a positive generally when they do stuff, it helps ener

look at the move in copper, look at the move in freeport. freeport's moved 16% since china made that first announcement. we do believe, guy talks about this, i think copper has -- has real supply/demand dynamics that will support copper prices even without china here. if china is reassertive, you want to guy commodities. >> you're going to hate this, sara, because you know where i'm going. >> i don't. >> you do. >> gold. goes up every day. >> i don't hate it. happy for you. >> the thing about what central banks have been guying gold in a meaningful way the last couple of years -- >> china. i feel like every story we talk about, you bring it back to gold. >> i just do it -- you try to get under my skin, i do the same thing with you. meanwhile, you should bring it up, because it's been doing extraordinarily well. and the gold mining stocks are finally catching a bid. and the resource trade, they've just given you the green light for, i think, all these resource trades, as well. >> 41st record close of 2024, gold. congratulations. >> outperform

stunning image there, lawrence, with all clouds some fog rolling mesmerizing, almost dreamy, right by freeport right out there tonight. but all of look real, but that's the way it is in the bay area. we get those beautiful shots out there, especially at this time of the evening. >> here's another nice with us. looking from our mount tam cam back down toward the marin headlands and san francisco obscured in that fog outside right now. and it's very thick down below out toward the golden gate bridge. we are seeing some dense fog this evening. so watch out for that. there you go. you can see it right there. the bridge disappearing in that fog. temperatures cooling down 60 degrees right now in san francisco to 69 in oakland, 73 in san jose. 71 in the more 75 degrees in cochran. 73 in santa rosa and 63 degrees in half moon bay. all these temperatures running well below the average for this time of year. we've had a couple of scattered pop up showers around the bay area. we're seeing one just to the east of redwood city right now. you can see some of that toward the east bay right now as we're going

and the freeport of logic, false tech special preferential regime has been set up in the cumulative ends as well as a special administrative district on rosky island, which is hosting this for. incidentally, this district has allowed us to get the assets back to russia from off shows and form 4 and jurisdictions to the june of more than 5.5 to to into boys. is that more than $100.00 companies are currently residing in this district. and we're going to move forward and forward you had improving the business climate in russia and in the russian forest in particular way again, remember to stick junior more efficient approaches to low cost version with our foreign investors here during the last day, sneaking i'll make for them, we announced the establishment of international the past and development territories. and the russian fire is they should provide on the globally competitive conditions for, for an invest, as, especially from, for in a frenzy countries from the, the 1st international advance development territory is scheduled to be set up here in fremont, q regions our chinese partner

the s&p 500, some winners there, las vegas sands, freeport-mcmoran, albemarle, wynn resorts. on with gaming because you've got las vegas sands and wynn on the winners' list and the nasdaq composite. on semi, lululemon, athletica, n, and p and texas instruments. >>> here's what we have coming up, cnn's dana if bash seems to think voters demanding answers from harris are just asking too much. >> you hear time can and time again the question from if focus groups, from undecided voters, but what about her policies in what is that about? stuart: democrats think harris is being held to an unfair standard. we'll talk about that with jimmy failla. he's on the show later. >>> kamala harris' aggressive left-wing policies coming the light in this this newly-resurfaced video. ♪ up, up with exing, down, down with deportation. stuart: oh, dear. that that's from 2018. has harris changed her beliefs since then? financialer acting dhs secretary chad wolf takes it on. a new group called white dudes for harris explaining why they started. >> most white men aren't actually maga supporters. so we

several china-related names like freeport, caterpillar, baidu, and others like wynn, they are surging

names like freeport, copper prices catching a bid.erpillar, las vegas sands for their casino exposure to macau. and estee lauder, tied to the chinese consumer, as well. all up between 4.5% to 5.5%. so keep an eye on those china ripple effects. right now, it is the theme of the day. back over to you. >> thank you very much, dom. >>> let's dive deeper into that story after those stimulus measures overnight. chinese internet k-web is on pace for its best month since july of last year. joining us now is my guest. brendan, i appreciate you joining us. you say this is the bazooka, because i'm feeling a little unconvinced. >> it's definitely the monetary bazooka. numerous interest rates are being cut in china, a lot of support for the real estate sector in terms of mortgage rebalances, as well as most importantly, the chinese government says the stock market is going to stop going down, that they're sick of the markets declining and are going to allocate 500 billion rnb to the stock market. so yeah, we're seeing the monetary side of the bazo

. >> guy >> freeport-mcmoran, there's a reason why the stock went up $3.50 today. the copper trade, which was all the rage earlier this year, then fell on difficult times. i think will start to reaccelerate and wynn, which you mentioned, that is a textbook, i think, bearish to bullish reversal in terms of what we've seen over the last few months. so, yeah, this has legs to it, but it goes back to central banks run amuck once again and what wins to that? gold does. it's just one more reason to be bullish of gold in this environment. >>> now let's get to know vor nor nicing the ceo testifying on capitol hill, getting grilled over the price of ozempic and wegovy amid soaring demand the stock closing more than a percent higher angelica peebles is here with me >> hey, melissa. yeah, novo nordisk's ceo dodging questions about why wegovy and ozempic cost more in the united states than in the uk. the ceo said you can't compare across countries, and the real u.s. prices are much lower, since novo pays so many rebates to pbms. senators agreeing with novo that pbms are just p

gold's already been in an uptrend, but you're seeing it from things like southern, things like freeportsome of these tertiary names like alcoa and the like. that relationship has actually been with us for a long, long time, for many, many years, so it's refreshing to see that working. i don't think this is about a real estate boom in china. i don't think this is a replay of, you know, what kind of got us to this in the first place. obviously, there's excess supply in those economies. you don't fight the same war twice, but i think there are some of these sign posts that are certainly still bullish and supportive of what we're seeing out of the market overall. >> got you. and just, you know, before we let you go, in terms of u.s. market here, i know you've been kind of giving the s&p trend the benefit of the doubt. where do we sit at this point, having kind of evaded some of the seasonal pain? >> so, you know, so far, so good. the trends have been -- have been secured, you made a new high. the equal weight made a new high. 20-day highs are not expanding and just as a reference point, the

copper miner or freeport-mcmoran coming along for the ride gaining 8% at the moment. it is at the very temperature of the s&p right now. so let's bring it back to the surprising september market performance this is the month that's known sort of as the stock market's junkyard dog, one that most years has left legions of investors bloodied with losses. so let's get right to the floor show to interpret what this means for the rest of the year, the chinese knew news -- china news. joining me now, phil camp rely and jason katz. phil, charles just said it, the market continues to rise even when everybody thought it wouldn't. especially considering that a we have seen it rise since that first rate hike. so everybody said, oh, we're going to tighten rates, the markets will do terribly. since the first rate hike more than two years ago, look what the markets have done. march of 202 the 22. 2022322. again, these are the the rate hikes all the way through, and and you will start to see dow, the s&p9 and the nasdaq come out on your screen and show exactly what they've done. s&p

we're following that and that is gifting a lift to names like freeport, caterpillar.

freeport is the poster child for china, for sure.ed to m macao. they are renovating properties in macao. they are losing market spend. that mark share ends in the first quarter of 2025. i want to be ahead of the ending of the spend because i do think you will see better free cash flow mash begimargins and they that back. in the meantime, 37% -- yeah, in the meantime, 37% of the revenue is in singapore and they see double digit growth there. i like it. very cheap stock, too. >> steph, thank you. great to see you. >> thank you. great to see you. >>> coming up in just a moment, brian williams now in talks for an election night special. what it may mean for the tv business. >>> and later, longshoremen preparing to strike on the east coast and gulf coast with no end in sight. all this ahead as "squawk box" rolls on after this. (♪♪) car, this isn't the way home. that's right james, it isn't. car, where are we going? we're here. (♪♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you ja

the names like freeport mac brand tied to the price of commodities, las vegas sands tied to macao casinostee lauder. the s&p 500 turning negative. it was positive earlier this morning. if you look at what's working, china-related names like material and energy but financial communication services, health care and services down, and just turning red on the three major averages as we speak. apple up, tesla up, but microsoft and meta are lower. mixed picture in technology. for treasury yields right now, selling continues. firmer yields the story post-fed. we're still below 4% on the 10-year, below 3.8% and 3.77%. we're going to get data here in just a moment on consumer confidence, pce, spending, nyse, a inflation in the week. >> rick santelli has it for us. rick? >> yeah. we are looking at big misses here on consumer confidence. we're expecting a headline number to be around 104. 98.7. that is the weakest going back to february of '21. i'm sorry, july of. july of '22 when it was 92.3. these are weaker than expected numbers. towards present situation. 124.3, also a very big miss. that's the

. >> and freeport, florida. >> from texas. >> mom is turning 80. >> shout-out to colorado. >> hi to mys for baby-sitting mom and dad! >> it's our 32nd anniversary! >> 32 years. not 30 seconds. i was like, they have been married 30 seconds, wow, congrats. 32 years is impressive, too. welcome back to "today." nice to have you along with us. your news at 8:00, and we will start with about last night, the high-stakes presidential debate. harris and trump meeting for the first time in person and sparring over everything from the economy to the border to reproductive rights. peter alexander is in philadelphia with a look at some of the highlights. peter, good morning. >> reporter: hey, savannah, hoda and craig. nice to see you guys this morning. the harris campaign feeling very good about the vice president's performance last night. a senior harris campaign official even before the debate is over telling nbc news we have an embarrassment of riches, too many moments to amplify. different story on the trump side. the former president at times agitated and angry during the debate. afterward com

you probably said let me get a casino, buy los aas vegas or wyr freeport.e've seen in the past when they do it, they can do more. i might as well add a few percent there. i think there's probably a good risk-reward to owning some of it. as you talked about just now, some of it was pretty beaten down and hated. people were short, that kind of stuff. so, yeah, i think it's a way to get a little cyclical exposure. >> you don't sound overly excited about it. >> the challenge is when yo analyze -- we looked at the last time china stimulated and its averages kind of garbage sometimes they stimulated like in 2022 when raising rates, so it's hard to use the historical perspective and say it's a definite playbook buy the cyclicals. you have to looking at stocks in the u.s. that are quarterly. these shares or, you know, active last week and thought there was legs to it. i think casinos or copper maybe make the most sense with what i know right now. >> how about this notion that we're entering a couple -- little better seasonality but the overall notion that near term

freeport, las vegas sands on macao, up 15%. wynn resorts, up.hese stocks have been held back on the china story. the question now is, is this a craig here pays too much for verizon wireless. so he sublet half his real estate office to a pet shop. there's a smarter way to save. comcast business mobile. you could save up to an incredible 70% on your wireless bill. so you don't have to compromise. powering smarter savings. powering possibilities. switch to comcast busines internet and mobile and find out how to get the latest 5g phone on us with a qualifying trade-in. don't wait! call, click or visit an xfinity store today. play the idea of a china recovery here. >> would you like me to bring in eunice? >> you do it. >> you want me to do it? okay. >> my kids are sick. >> it's good that you're here so mike and i can be sick next week. let's get more on the china rally and bring in eunice yoon. she's in beijing. eunice, we got a lot of important language, it would seem, from the politbureau announcement a day and a half, two days ago. have we seen an

. >> las vegas sands, freeport, copper has made a big move higher on this. >> wynn as well. >> you could that chinese communist party knows how to trade this market because it really did get washed out and everyone was saying it was uninvestable forever and all these false starts and you do it for maximum impact if, in fact, part of the objective as they've said essentially is to try and prop up the market and reinvigorate. >> is it good for a longer, more sustainable investment? you know, there are still serious questions. >> take a look at pdd up 11 plus percent today. >> jpmorgan in a note says that -- they call it a near term tactical rally they say can continue because the magnitude of the current rally is half of what we've seen in trading risk on episodes in china in recent years. >> a truly small market cap relative to the rest of the world. hard to avoid mentioning nvidia on day like this. i say it because after the micron numbers, morgan stanley's commentary about micron, they've been cautious on micron's valuation but they say it's a read through for nvidia because if micron's

i know you saw the upgrade of freeport and alcoa today. >> but at the same time, gina showed you thatked away from the super cycle yesterday. that's a curse. fracking, coal, copper, these are curses. never say super cycle. is dan ives around? dan, stop it with the super cycle. i figure he's over there somewhere. >> wolf upgrades alcoa. >> you need china to come back for aluminum, and there's lightweighting of cars but i don't think the auto group is that good today. by the way, another nippon steel, remember, u.s. steel makes a lot of auto stuff, another nippon steel appeal. guys, wake up and smell the java. it ain't working. >> you saw the comments by the u.s. steel ceo to the journal kwoez. "we will move our headquarters out of pittsburgh, close mills if this deal collapses." >> yeah, okay. >> you think it smells of desperation? >> like the pittsburgh steelers of late last year, look, i got to tell you, i think that people have to recognize that there are certain people who could be important. next week on the debate, which is going to be, like, who knows, there's -- someone could s

for ev and for data center, well, data center, people were worried about that and this is crushing freeport there were too many super cycle bulls on copper at the top and it's miserable. don't forget, copper, the largest country is china on copper. you have three bad markets. ev is bad. data center, maybe people think in the out years and that's why i want to read semibellist. i don't want copper, for heaven's sake. >> china cuts gdp for the year to 4.8 and they were at 5. >> china is so problematic. i continue to believe if you're in any chinese stock, even alibaba right now -- wow. that temu pdd, that was awful, and i continue to worry that china is just going to disappoint, disappoint, disappoint. i read a piece this morning about the watch industry being bad. watch is the way you show your wealth you can't have mangssion in china. pdd, very bad. really bad. tonight, i am doing a look at sphere. >> sphere, the vegas venue? >> yeah. it got downgraded today and a lot of people are excited about sphere. i don't know. we have to see where they come out. >> they've got the eagles. >> all righ