after the market closed, we heard from the sec chair gary gensler. tamping down speculation we might see progress on chinese firms being delisted. we were watching producers, because they soared after bloomberg learned president biden is planning to invoke those cold were emergency powers when it comes to encouraging domestic production of critical material for batteries. were talking about the defense production act. this is the one president trump used to spur mass production to tackle the pandemic. we know that materials like nickel, lithium, and cobalt have soared because of supply chain disruptions in the ukraine-russia war. >> the conflict continues. fascinating intelligence, the white house says the u.s. has managed to get a hold of, saying indications are vladimir putin is misled by his military leadership in terms of how he was able to prepare and conduct the war in ukraine. the intelligence essentially suggesting his advisers are afraid to tell him the truth. according to the white house, pointing to growing tensions when it comes to the ru

a guy who might not be doing such a great job is gary gensler i know he's your friend and comes on your show, he doesn't return my phone calls, but you know, what's interesting about gary, is that we have all these issues affecting small investors that are really affecting small investors so what is he going to do next week? we have meme stocks maybe over valued, pump and dump going on in the market, people pumping up stock and investors getting lured into the crazy investments from message boards but gary gensler next week is going to unveil, from what i understand, details on proposals on how asset managers and corporations can help reduce the world's carbon footprint. okay? so this is kind of where he's going. now we should point out that this is an incredibly ambitious agenda that he's got going on top of this , he's looking at crypto, he's looking at private disclosures for private equity, looking at payment for order flow, and we're going to get this thing, some sort of thing that corporations must follow, public companies, how they can reduce, how they disclose tok investors beca

liz: we have spoken to gary gensler of the securities and exchange commission. to say that he wants to very much focus on what's a security and what is an actual token, a crypto currency. i feel like if that's the case and he's holding you to that standard, at some point he's going to have to go after ether as well because ether and e here to yum are those two very similar paths just like xrp and ripple, are they not? >> i think that's absolutely true. i don't want to comment if on what, you know, they should or shouldn't do. i think as it relates to etherium, my view it's very clear it's a currency, xrp is a currency, and the sec -- he was interviewed yesterday, gary gensler was, or maybe even this morning and commented, hey, we're going to lose some cases. this is the definition -- >> so you think -- >> -- of regulation by enforcement. >> do you think he was saying he was going to lose your case? [laughter] >> i don't know what he was saying, but he did say we're okay with that. >> let's get an update. >> monday was the last day of expert testimony, it, and so

gary gensler came out on bloomberg news earlier today and said that speculation, that there was somegle room by the sec. he quashed that. let's bring up his quote because he said there have been thoughtful, respectful, productive conversations but i don't know where this is going to end up. it is up to the chinese authorities and it could be a hard set of choices for them. he went on to say if we are in the same place two years from now, many companies would be suspended. in the last hour, we did get a statement from the chinese securities regulation committee and they are saying talks with the sec will continue. we will have to see how this one plays out. haslinda: stephen engle, thank you so much for that update. let's get you the latest business flash headlines. profit gains of more than 10% last year. recovering from the depths of the pandemic kid that followed strong growth from china's other megabanks. several executives have said those factors could pressure earnings in 2022. reaching out to state owned firms i'm the middle east as it finds a way to offload russian assets. the

gary gensler, you mentioned him in a let's bring up the quote. he is casting cold water on like elation and eminent deal might be happening between chinese authorities and u.s. authorities , essentially saying he does not have the power to have wiggle room. there have been thoughtful, respectful productive conversations come a but i don't know where this is going to end up. it is up to chinese authorities, and it could be a hard set of choices, according to gary gensler. haslinda: that is the latest. let's get the vonnie quinn for the first word headlines. >> thanks. the china central bank boosting confidence in providing support following the worst covert outbreak since the start of the pendant. the pboc said it would be more forward-looking and will expand its program to smaller and rural businesses. economists cut their growth forecast for china. russia will lift the ban on stocks, removing one measure that limit market declines after a record shutdown. the bank of russia says equity trading hours will be expanded back to the regular nine hour

saint here's the data, are you sure you want to screw the system the people inside the firm's, gary genslere data analytical analysis that backs up the retail investors that will be harmed. >> don't you have to show replacement for this. >> what you're going to replace it with is better than the old system. there gonna force him to come up with data along the lines of what germany did when they kept payment. it's easy if the bandit or put modest survey this is going to the new york stock exchange as opposed to a dark pool or secondary exchanges better and just do it. they will not let it get away. they're hoping republicans in congress will come to their aid and particularly if the republicans get the senate if i'm betting and the republicans get the senate and the house it is going to be very difficult for him to ban. i don't know but off the table it's only a three - 2 vote in with the commission but the sec had senate finance committee, they will crush them and i think if the republicans take the senate it's good to be very hard to do stuff like this. it'll be very hard to do a lot of th

another part of it is gary gensler.he wants to turn the economy upside down. watch him. if the republicans get both, he's either going to be helping capitol hill a lot on hearings or he might just see him, they might have to put someone else in there because he won't get anything done. anyway, on that note -- neil: thank you, charlie. beautiful tie by the way. charlie: thank you. neil: viewers will call me back and say you're like the alan greenspan brief case indicator when charlie is wearing a tie maybe -- charlie: what's it mean when i'm wearing a pink shirt? neil: the pink thing sort of dials it back so you're a riddle and the conundrum at the same time. you're the best my friend, thank you very very much charlie gasparino, he is non-stop 24/7 breaking news big developments we'll have more, after this. you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job descriptio

there's a movement by gary gensler the sec chief to end that. commissions. i mean, that's why you pay almost no commissions and robinhood and schwab and these other places, i will tell you that there's a study in germany that came out, germany is for payment for order flow, they came out with data saying they should keep it, and we should point out that the big wholesalers, the citadels are going from capitol hill saying you really want to crush this market? get rid of payment for order flow, where retail investors don't have to pay any money even if gary gensler thinks there's scams there so they are running around capitol hill right now with this german study saying germany didn't ban it, neither should we and by the way gary gensler should show proof this hurts retail investors if we don't ban it. again there's a lot of interesting headwinds with this market. i would put at the very top, the fed, and this , well, right around there, this war. but even if you take out the war , you got the fed and you got a lot of crazy stuff like this payment

. >> what do you think gary gensler one here? what about what happens next in terms of you?think he is willing to take the step of giving you guys that option? >> they have certainly encouraged a lot of crypto participants including crypto exchanges to come in. it was a very exciting announcement that we now have bitcoin future etf's out of the market. that forced investors into the product. this is causing more federal agencies to focus on crypto and ultimately we believe it is a matter of when, not a matter of if. >> if it is denied, would you look at the option of a lawsuit? >> there were as many investors as possible as well as academics, policymakers, everybody has an opportunity to weigh in on this issue. >> that was michael. speaking with guy johnson. let's have a quick look at what bitcoin is doing. it was rallying very strongly, up by as much as 4.6%, reaching 48,215. and bitcoin is under the radar. rallying to levels the coin has not seen since last year. joining us is bloomberg's cross assets editor. >> we have people pointing to this. there are things going on th

even gary gensler has said this has to happen at some point.nk janet yellen wrote a congratulatory letter to president biden even before the executive order was issued and bitcoin has rallied, of course, with other risk assets today. can the u.s. be a leader in this? does the u.s. need to be a leader in this industry? >> that is one of the most surprising things that came out of this executive order, was president biden really making an emphasis on the u.s. leading other nations in terms of digital assets. we have not seen that kind of language from him before. there is a sense of fear that the u.s. could fall behind in nations that -- and nations that have less regulation, and some crypto companies have been flocking abroad to countries where regulation is a little looser. >> what do you see around the marketplace here for digital currencies compared to other countries? the places with fewer regulations flourish or is the industry looking for a home with rules? >> right now, in the u.s. particularly, officials in the industry have felt like th

guy: what do you think gary gensler actually wants hair? objective in terms of what happens next with you, with the market? do you think he needs or wants control of the underlying market before he's willing to take the step of giving you guys that option? terry: the sec -- michael: the sec has encouraged a lot of crypto participants to come in and register with them, and gary in the current sec administration has moved the ball forward. it was really a very exciting announcement that we now have bitcoin futures etf's in the market, but unfortunately that has forced investors into those bitcoin futures products because those are the only ones that exist. so we are really encouraged by that, as well as the recent executive order causing more federal agencies to focus on crypto, and ultimately we believe it is a matter of when, not if, a spot bitcoin etf is approved. kailey: if it is denied, would you look at the option of an apa lawsuit? michael: i think all options are on the table. i think it is important that between now and the end of th

and, carl, we'll have fcc chair gary gensler on "bauer lunch" today. climate change and the regulatory agenda that he's got. app lot to talk to 2:15 today. >> good summary. i think that gensler may call for an audit come in and audit you. no more, hey, i'm green. how about the standard it wouldn't surprise me if he demands the standard you may have to hire someone to rate it yourself and i think that it's going to be very eye opening when we see so many companies that claim they're green and gensler doesn't think they're green. it's going to be good 2:00 p.m. >> bob, thank you. we'll be watching this afternoon. quick reminder, get in on the cnbc investing club with jim find out more. in the meantime, as we go to break, a look at the bond report we mentioned the inversions in various parts of the curve today. we did get the two-year back to 2% first time since 2018 on that one. and the 10-year hovering just above 2.22 back in a moment at cdw, we get that your world is always changing and you need to adapt to support your digital transformation. we can h

one of the diversification portfolios i know, gary gensler told me that am i diversified 23 will play it tonight, see if your portfolio passes the test stay with cramer [ music playing >> announcer: don't miss a second of mad money, follow @jimcramer on twitter. have a question? twitter him. sends him and e-mail to mad money@cnb doctor.com or give us a call at 1-800-743-cnbc miss something head to mad money.cnbc.com what does a foster kid need from you? to be brave. to show up. for staying connected. the questions they weren't able to ask. show up for the first day of school, the last day at their current address. for the mornings when everything's wrong. for the manicure that makes everything right, for right now. show up, however you can, for the foster kids who need it most— at helpfosterchildren.com >>> we have been talking a lot about the end of the bear market i talked overtime with scott wasn'tner. it made me safe, some of the companies down so big from their highs. so tonight i got a new 21, i'm trying to deliver these because they're so low this one is called d local it's uru

gary gensler, if you look at his latest financial disclosures, has a lot of money in in e an emergingping his own portfolio, and that's a huge conflict of interest. i'm not saying it's a crime, i'm not saying it's a scandal, but it's clearly a conflict of interest. i don't understand why gary gensler didn't put that investment in some sort of a blind trust, but he didn't and, you know, he owes that. and if he does acquiesce to what the big money managers say, or he's going to be putting a few bucks in his pocket too, helping himself. that said, this is a mad scramble to figure out what to do here. and here's the other thing you're hearing a lot, neil. for the last two years esg, environmental, social, government investing has been all the rage. we have pointed out on your show in particular and liz clay liz claman's show as well that there's at lot of hypocrisy here. if you don't have the right, if you don't have perfect diversify, the -- diversity, if you're not trying to move your carbon footprint to zero, these screens could hurt you and, you know, big money managers might not inve

doug will be joined by the head of research at etf trends, and at 2:15 eastern time, gary gensler willate change proposed rules. we want to know more about what corporations are doing autbo climate change and more. half-time is back after this ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq ♪ ♪ ♪ ♪ ♪ (vo) right now, the big switch is happening across the country. small businesses are fed up with big bills and 5g maps that are mostly gaps— they're switching to t-mobile for business and getting more 5g bars in more places. save over $1,000 when you switch to our ultimate business plan... ...for the lowest price ever. plus, choose from the latest 5g smartphones— like a free samsung galaxy s22. so switch to the network that helps your business do more for less—join the big switch to t-mobile for business today. this is xfinity rewards. so s our way of

so the chairman of securities and exchange commissions, gary gensler, i pushed for esg to become mandatorybusiness world. watch. >> why my talking about climate risk? simple. because investors are. they want to know how climate-related risks will affect the company's they own. that could mean the physical risk associated with climate change or it might be the steps those companies are taking to lower risk associated with regulation or commitments to lower emissions. this will be good for our economy. >> tucker: okay. it's not going to be good for the economy. one thing we know for a fact is that investors are not thinking about climate change. sorry, that's a flat out lie. if you are saying that with a straight face, you are a liar. and there is something in it in it for you. so in a very clear and smart new op-ed in "the new york post," charlie gasparino argues that this is fraud. and in fact they could help fund the invasion of ukraine. he joins us. >> and may be the invasion of taiwan. >> tucker: so how does this work? such a great piece i hope our viewers read at. >> i want to back up

earlier this week, chair gary gensler made it clear the only deal the u.s.ld accept is full compliance with audit inspections. with china and now the u.s. both bearing down, is the entire sector too dangerous right now for investors? let's bring in china beige book international ceo lee leland miller and author of "the great u.s./china tech war," gordon chang. leland, let's get to the news here. what do you think? will these chinese companies comply or allow themselves to be kicked off the exchanges? >> i don't think most of them will be allowed to comply. there's a possibility that some of them do comply. most of them can't because the chinese government won't let them. is there a solution in the middle? possibly. that's where regulators could be headed. it would take most of the the capital nation off the market, but it would allow for a nice sounding political solution. so that could be where they're headed. by is and large, this isn't really a negotiation because the u.s. has laws and regulations, and it's up to china to adhere to them. you're not having

gary gensler keeps talking about it, that it's a bad thing, but he doesn't prove it.okay? just throw that out there. germany today came out against a ban on payment for order now. key. big economy -- russ -- liz: robinhood? >> this story's just starting to make the rounds. people are getting the paperwor- liz: and for that matter if, charles schwab, all of the traders. >> are they all up? liz: i don't know. did you order them -- >> this just broke, liz. we can work with together -- [laughter] if you get schwab or robinhood up there it'd be nice. if you don't, i'll talk through this. i don't know if it would show immediate impact. down. this thing is just starting to make the rounds, the document from the german delegation of the your year pube yoon which said -- european union which said, by the way, cited several reasons. this is the germans, including if they get rid of payment for order flow, it could be bad for retail investors who will not benefit from lower commissions. liz: right. well, zero commissions, a lot of these -- >> just throwing that out there. amc ap

we've been asking gary gensler for a long time, he continues to turn us down.ith him as well. and jon stewart, you know, what he did this last week was absolutely amazing, to have someone of husband -- his stature to step up, that would be an honor as well. we're way off the lows of the session. this is a tough time. this is trial by, you know, baptism by fire, if you will. you've got to go through this though to enjoy the really great times in the stock market. this is a test, it happens periodically, it's painful, but i always urge people to stick with it. at the very least, don't panic. if you're really opportunist opportunistic, start to look for names you want to buy because they may be cheaper now. meanwhile, speaking of the coast being clear, one more hour to go. you know it's been crazy -- [laughter] buckle up. liz claman's here, she's going to walk you through it. liz. liz: you know, you just said we were off the lows? the low on the s&p was a loss of 68 points, mow down just 18, so thank you, my friend. charles: we're the little general gin -- engine

sec chair gary gensler has warned as many as 250 chinese companies could be delisted from exchanges asey don't start complying with listing requirements. die bye down 3.3% -- die bye -- baidu down and jd.com and showers of nikola, the electric truckmaker, they're moving in the opposite direction, up more than 4% after starting production of their electric semi truck at their arizona facility. nikola plans to start delivery in the second quarter with 30-500 -- 300-500 trucks and increase production in 2023. looks like they're on time, and shares are up for a that reason. the ore ev makers, well, they're up as well. the tesla up 1.6%. it's above $1,000 at $1,015. rivian higher by 4%, and gm, their hummer everything v is about to hit the market, thats' up 1.5%. and this, an agreement between uber and two new york city cab companies has uber's stock surging 4%. so the deal allows customers to book taxi is raids within the uber app giving them access to a wider range of options. the move is seen as an old will live branch from uber who has been in fierce competition with new york city taxi

. >> gary gensler is coming up with rules today. >> they have a consultation coming out on climate exposureress reports it looks like it will be in the main filings and the 10ks and it will be what companies are doing around these issues, particularly to seize the opportunities around the energy transition the reason they're doing that is investors, 130 trillion -- that's trillion with a "t" is demanding this type of closure this is what investors want, but really to make money. >> all right mark carnie, thanks for joining us this morning. >>> joe, back to you at nasdaq. >> yes like jay clayton's piece, the s.e.c. climate overreach there's two sides to this one. thank you for that, steve. >>> coming up, yemen's houthi rebels unlyric one of their most intensemy aisle drone strikes on saudi arabia's area, temporarily shutting oil production. no one died in the bombing and another base attack was thwarted nasser said it had no impact on the oil price, but all prices are up today. >>> goll', we're going to go to this energy operation warp-speed. it's the name our next guest has given. he's look

. >> gary gensler has his work cut out for him. >> see you at 6:00 "mad money" with jim cramer 6:00 p.mn time another big hour, cleveland fed president and darren woods don't go anywhere. alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots. we going to the league! ♪ feel stuck with credit card debt? move to sofi and feel what it's like to get your money right. ♪ ♪ and get your money right. ♪ ♪ >>> good thursday morning. another hour on "squawk on the street," i'm carl quintanilla, with morgan brennan. david faber with join us with the chairman and ceo of exxonmobil, darren woods the markets trying to hold 4,400. a two week high, a new round of talks between the russians and ukrainians ism services out a couple moments ago. for that we turn to rsteve ricchetti. >> data at the top of the hour ism services a february number, 56.5 this is a big miss

. >> the i think the commission's chairman gary gensler said what he wants to achieve is to make spachanging some disclosure an pliebble with aspects, concerns with conflicts of interest concerns about over exuberant description of potential benefits and the like. and there is now underway an effort by the sec staff to fulfill chairman's request, but taking a very active role where had the regulating spac spac offerings use of pipes in connection with spacs. >> mr. chairman what i am trying to understand, here, is whether or not, the securities and exchange commission is overstepping i mean look last year, we saw the biden administration, come out with a vaccine mandate through osha it was that agency, that was going to ensure that there was a vaccine mandate in place now we got this securities and exchange commission promoting last week, new rules for all public companies to follow on climate change, including he emissions disclosures, suppliers talk about climate change agenda being priority going from agencies throughout agencies to institute new rules. is this overstepping what ki

this week, the securities and exchange commission chairman, gary gensler, comes up with his disclosurerequire companies to disclose all emissions including those from suppliers and customers, affiliates, who use their product. this is often referred to as scope 3 emissions. what kind of an impact do you think that's going to have on businesses, senator? your thoughts on these new proposals coming out of the s.e.c. which of course is more of the same, climate agenda. >> well, clearly it's an additional burden on companies in terms of regulatory reporting and we have seen the biden administration use every single regulatory agency including attempting to use the fed to defund fossil fuel and to promote an activist agenda that requires companies to really walk away. if you're looking at the three scope agenda it's really to try to get companies to move away from any use of fossil fuel and to track their employees, their suppliers and their employees in their activities day-to-day. so it's an unprecedented intrusion of really the regulatory state on americans' lives, on american business a

you've got the securities and exchange commission chairman gary gensler casting doubt that a deal isrom losing their u.s. listing. gensler said it's up to chinese authorities and it could be a hard set of choices. >> i think the u.s. needs to drop its allusions. i think there's hope by some people in this administration that china can be a helpful partner with the u.s. and can help us on whether it's climate change or north korea or other issues and this isn't happening. i mean, china is very much pursuing its own interests and those interests are to displace the u.s. it's very clear that the chinese want to drive the u.s. out of the pacific and eventually be able to build a new world order as you said. maria: i just hope investors understand that when they're buying these chinese stocks, they are in effect funding the expansion of the ccp, all of these chinese companies are linked to the ccp and they have a goal of overtaking the united states as the number one super you power so the u.s. has these chinese stocks listed on our exchanges even though they don't follow the auditing rul