is he going to be the grinch here when it comes to the markets? >> well, you know in my opinion, he's been the grinch since october 2018, but that's another story. you know, i'm just going to pause at this. not sure how to spell it what were we talking about last week, that rosengren and kaplan, didn't they announce they were going to get out of their holdings it would be really interesting if that announcement, if it somehow delays and stay with me on this one, delays any taper talk because think about people like me in a week or two weeks from now when the fed announces a taper, what's the first thing i'm going to say see, they got out of their positions right before the announcement so they have to be very aware of that with all that said, they're way behind probably five years behind is he going to be the grinch there are many i don't think he'll be one of them >> our next guest says despite signs of strength, investors are still betting on a big break for the market mandy, great to see you. >> great to be on the show >> what are you seeing in

. >> christmas is canceled who is the grinch here tonight, brian kelly? >> brutal. >> tim, you didn't like the valuation going into the quarter. what do you think of the valuation now, 6% down >> still too high, way too high. i think the problem is this, it's okay to have a higher pe level if everything is working and everything is going great but there comes that point in time, and it happens to every company, there's that stumble. now the stumble is the combination of a lot of things but now supply chain being the biggest, i believe there are other issues as well there's a lot of pushback in china for nike products now. if you look at what their rate of growth was, it's nothing near what it once was that is still somewhat concerning north america is still solid but not growing at the same pace either there are a lot of things to factor in looking at a company like nike and then a company still trading at a forward somewhere close to 40, i this i when you look at the historical and go back and look mostly at the 22, maybe 28, historic pe. so the fact it'

flavor also include gingerbread kit kats, also peanut brittle reese cups and chocolate kisses with a grincheminder, we are still in summer. >> what about halloween? >> i was almost on christmas. thank you, hershey's. >>> the cutest back-to-school video we've seen yet. >> goo"good morning america" shd this. a little sister running. this hit me on the feels. down the sidewalk to greet her big brothers getting home from school then they all unite for a big hug. it is exactly what we need to see these days. the cutest part of this video is that she is screaming -- she only knows how to pronounce one of their names and screaming his name and they're yelling her name from across so it's like, oh, my god, you guys. i can't. >> we need more of this in i've always focused on my career. but when we found out our son had autism, his future became my focus. lavender baths always calmed him. so we turned bath time into a business. and building it with my son has been my dream job. at northwestern mutual, our version of financial planning helps you live your dreams today. find a northwestern mutual advis

other instances in central-bank history, but it all comes down to we are visiting wrench and the grinchc forum at the zero bound. you can define that anyway you want, but that is going to be my focus. governor lamont doesn't want to talk about the zero bound, but he does want to talk about the fiscal shocks that it brings on. jonathan:? i'm sure he would like the borrowing costs. what are these governors going to do to get people to come back to their states -- jonathan: i'm sure he would like the borrowing costs. what are these governors going to do to get people to come back to their states daca tom: it is going to be the question. jonathan: just on the zero bound , what is the focus? at? 8:30 what are you looking to get out of ray? tom: with ray dalio, it is about the tangible performance of what he has done at arguably the most prestigious hedge fund manager in the world, and acclaimed author, and bridgewater has had a really tough go of it. you nailed this with bob prince in davos. they've got to recalibrate their core theories, given the duration that we are at zero bound. it has

i feel like he's this really depressing grinch now for the winter time you're going to be at home, coldsweaters, and you are all in luck because the winter is worse than you thought. this is not a good winter you are painting at this moment. guy: it is going to be cold because the gas prices are going to be superhigh, and i am going to turn off the heating. i children can huddle together. i'm sure they will be absently fine. i am painting an incredibly bleak picture. [laughter] i just think the level of certainty right now is quite low. alix: but i think the bar for a lockdown has to be high. guy: absolutely. but i think it is really hard to predict what is about to happen. the administration in london sounding fairly cautious, i would say. that boeing travel story is going to be related. owing sounded optimistic. alan, boeing chief strategy officer, joining us as well. this is bloomberg. ♪ >> the countdown is on in europe. this is "bloomberg markets: european close," with guy johnson and alix steel. ♪ guy: tuesday the 14th. what do you need to know out of europe? boris johnson laying o

kisses have grinch packaging and the reese's got preened -- peanut butter -- peanut brittle flavored cops and the cake will be gingerbread flavored. -- and the kitkats will look at -- will be gingerbread flavored. kumasi: let us look at the recedes -- reese's one more time. that could be good. reggie: that is my favorite. i will give it a try. kumasi: you got me -- no, that was the pieces. around easter they had the eggs, but that is not a taste difference. i am here for it, can you really mess up a reese's. reggie: such a good point. my mind is open. mike: mind to, let us -- mine too, let us try it. when do they drop? kumasi: with the way of the world they have probably moved already onto christmas. mike: we are going to move on to the weather, a lot to talk about on 5:19, here is san rafael and you can see the clouds and sunshine that starts are cooling trend. the heat easing begins and clouds increase looking for patchy drizzle and then in the east bay hills. by the weekend we have moved the drizzle and rain to sunday. 75, sunnyvale. 80, san jose, 85 los gatos. peninsula, close. c

all he'd taken away like a big dumb health grinch, the party panel is back, emily compagno, ilya shapirohe only person the party panel has been a professional cheerleader. what does this we can do for you? >> you do not know me you do not know what i have done, you do not know where i have been. [laughter] that is the disclaimer but were talking to ilya. [laughter] >> i own some pom-poms found she's trying to dictate everything very outside outside. did not see a lot of morbidly obese older americans. >> the most important thing straight first. which is don't forget the best team of all times is right on your tail one of the five nice now we've got that all straight. >> the bottom line is, this should be within local purview. let's take the husky stadium which they've announced you need to have either proof of vaccination are negative covid tests in the last 72 hours. their accounting for the fact that many people who are not vaccinated part however it's my understanding they do require a mask, which might be another portion of another story. think the bottom line is the longer heels ont

will the iphone 13 be a hit this holiday season or disruptions bring out the grinch we have more of thatk's instagram showing that it could be toxic for teens and the company knows it second hour of "squawk box" begins right now >>> u.s. futures are flat. we haven't really made any head way in a while september 17 is what we should know that's tomorrow. >> moderna releasing for data from the phase three study for covid. the company finding support for a push for a wide use of booster shots finding the breakthrough cases happening less often among the group of trial participants more recently inoculated >>> electronic arts delaying the launch of battlefield 2042, it will now be released november 19 it will be called 2043 now no, ea is blaming pandemic-related challenges. stock bouncing back after being down more than 5%. general motors, when we read this -- >> this one, you've got to slow down and really take in. >> general motors now advising chevy bolt owners to not park their cars or evs within 50 feet of another vehicle to reduce the risk of a potential fire spreading. >> but feel saf

speaking of old leaves only september the supply chain crunch about to play grinch with america's favorite toys from barbie to matchbox cars and hot wheels is holiday season the ceo and on prizes on what he's doing to dodge and break up that logjam and what he envisioned and what he had envisioned a year ago by forging the partnerships with hollywood and how that's leading to a major transformation of his company and speaking of matchbox i will review the hottest toys for christmas when it comes to these minicars. that is tesla, the baby tesla, america's kids are heading back to school before christmas but the vera bradley ceo is here and could give us backpacks in the stock. but first breaking news wall street beating the federal reserve to the punch in the last 24 hours multiple star bank analyst sounded alarm bells of a downshifting economy. performing or vindicating that the fed has done it, morgan stanley predicted u.s. stocks will likely correct 10 - 15% by year-end and has slashed u.s. equities to underweight siding outside risk to growth for october. city says long on the s&p 500 a

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names in shopping are asking the government to do right now to keep the holiday season from getting grinched by new covid rules that could affect their stocks, closing bell ringing in 48 minutes the dow holding on to gains of 127%, the "clayman countdown" is coming right back, so don't move. ♪ ♪ remember when no dream was too big? ♪ ♪ and you could fearlessly face the unknown. (kids playing) you still can. ♪ ♪ (blowing dust) when you have a rock you can depend on for life, you'll be unstoppable. that's why over 5,500 companies rely on prudential's retirement and workplace benefits. who's your rock? liz: breaking news a jury finding r &b singer r kelly guilty of racketeering in a sex trafficking case you're looking at brooklyn federal court right now, that is a live picture literally happening seconds ago. kelly has been on trial in new york for one count of racketeering with 14 underlying acts that included sexual exploitation of a child, kidnap ping, bribery, sex traffic king charges also charged with eight additional counts of violations of the man act that's a sex trafficking law, kelly,

grinch, short of 114 days to go for christmas and now we're ringing the alarm bells, but i think you're right i was thinking of the exact same thing about purchases denied versus purchases delayed if you don't have the right gift for someone, i don't think you're as likely to get it later. so i would have thought that things would start to improve. i thought that about the autos when the chip shortage first started happening. it's going to be way more prolonged than i thought so i don't know if we'll see that here in terms of transportation. i think so the one factor that might get a little better is after september when some of those benefits run off, we'll see if people return to work and some of those labor shortages will improve that i don't know. but i think you're right to sort of be afraid of not only what were you going to do for your christmas but how are these stocks going to do and i think that sales denied are not going to get credit in what would have been a very, very, very robust christmas. so i'm a little concerned about some retailers some, i think, will fare much bette

greg, you may be right, but who wants to be the grinch and announce that around december. we shall see. peloton, let's take a look at that, it is popping as it rolls out its own branded clothing line. the exercise equipment maker announcing it is going to be selling peloton apparel. this is a specific line of workout clothes and accessories adorned with peloton logos and art work. investors absolutely love this. the stock is up nearly 10% right now. but while peloton is banking on home workouts to continue with full energy, who is going to win the post-pandemic battle in fitness? brick and mortar gyms or on-line fitness sites? the company that could be the one to make the call is here. a ceo that has all kinds of data coming in will reveal what he is seeing right now. closing bell ringing in 50 minutes. dow jones industrials down 118. we do have red on the screen. the transports are suffering, down about 1% or 153 points. s&p lower by 12. the "claman countdown" is coming right back. you better too. that spin class was brutal. well, you can try using the buick's massaging s

and there are some real potential grinchs that may want to steal christmas this year covid, a wintertaxes are going to go up china uncertainty continues to be there hedge funds may look to, you know, the end of september, let's lock in the gains this year and put some selling pressure in the market can't rule that out. people have been talking about it though. so i think that could help moderate what the pace of the k decline is we think 5% to 10% pull back panneback ac. >> what's the answer for the kind of environment that you are looking for right here in other words, we have seen the overall indexes be supported by the mega-cap growth stocks that sure they are expensive but they act as defensive plays when things get a little stressed >> they do but there is a cyclical aspect how long do you delay the iphone upgrade? that affects hardware. software is a capital decision particularly in the cloud and it's been strong, of course, but corporate cfos and capex, the confidence of ceos and capex typically go together. and so i.t. is still a bit cyclical it's been lulled into being portr

>> that would be a grinch style christmas gift, that would be another way and by the end of the yeartuart: under $3 by the end of the year? >> we could get there. there's a lot of offices the delay the return to work so that is a lot of commuting demand that gasoline is in there this year. as long as gasoline continues to cool and as long as we don't see another major hurricane target the area between louisiana and texas which would affect oil and gasoline production we might get out of the woods okay. anyone you should see the traffic in new york city. you should see the traffic in boston, worse than it was in 2019, they are driving back in. always good, thank you and see you again soon. check those markets, we are hanging onto a solid gain, dow is up 200. nasdaq up 30. work horse down on news they will suspend deliveries of their see 1000 electric vans that include 41 vans already delivered. work horse says the vehicles need enhancements and further testing to be certified under federal safety standards but stock is down 13%. i want you to get into the speaker pelosi idea. what is