. >> i spoke with the starbucks founder ceo howard schultz and the first interview since taking the role he says he is concerned about the mental health and safety in stores an issue he had not been concerned with over the years. not as much as he is today. >> there is an issue of safety in our stores in terms of people coming in who use our stores as a public bathroom. we have to provide a safe environment for our people and our customers. and the mental health crisis in the country is severe and acute and getting worse. we have to harden our stores and provide safety for our people. >> harden your stores. >> i don't know if we can keep our bathrooms open >> we spoke about capitalism and the role of ceos and his role as the progressive ceo. maybe now how that world has changed. we will show you more of the video later in the broadcast i spoke to senator chris murphy fighting for gun reform on capitol hill he is in the middle of it right now. i asked about the letter written by ceos yesterday urging the senate to act. it did not offer specific recommendations. >> 90% of americans and 90%

wait until you hear what howard schultz of starbucks has to say about tariffs with china oscoen a cintheariyam sabo knows a moment this pure... ...demands a lotion this pure. new gold bond pure moisture lotion. 24-hour hydration. no parabens, dyes, or fragrances. gold bond. champion your skin. at adp, we use data-driven insights to design hr solutions to help you engage and retain top performers today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ >>> another news alert now a short time ago at the deal book conference, andrew sorkin sat down with howard schultz of starbucks. one of the subjects they talked about was u.s. tariffs with china. >> china, just like the u.s., needs a positive working relationship with the united states, and we do with china now with regard to the $360 billion of tariffs that trump put on, it is beyond me why the president of the united states does not lift those tariffs today. now that is not the answer to inflation. but inflation today is very different in terms of the cause and the effect of inflation in the past this is a

as we ponder what the future is going to hold, here's what howard schultz had to say about the difficultyoming back to the office >> i have been unsuccessful despite everything i'm trying to do to get our people back to work >>ia a want them back? >> i pleaded with them. for i said i'll get on my knees, do push ups they're not coming back at the level i want them to we're a very collaborative, creativive group i realized this is a different generation and i've been schooled by our people don't say too much y with have to establishb a new way of working and i've embraced it >> liz, with people not afraid to tell howard schultz no, i guess. >> it's interesting because one area we saw a bitff a shift in this quarter's survey is-we asked whether consumers prefer to work from home, previously we had seen i think 92% had said yes in march that fell to 68% in june we did see a bit of a shift in preference to come back to the office in this survey. >> let's turn to some of the other segments when you say they're pulling back on consumer discretionary, this is last week. where are people pulling b

i'll speak with janet yellyellen after that, we will talk to howard schultz i'll talk with senator chris murphy i'll bring you highlights from that tomorrow morning. so many other big regulatory issues in d.c. we'll talk about payment for order flow and other things with the guests today lots to discuss. >> for sure. a lot going on in washington a lot happening on wall street we should get a check on the markets. you see there are green arrows these are moderate advances at this point with the dow indicated up 84. s&p futures up 12. nasdaq off 48. yesterday, we saw losses across the board. nasdaq down .7.75% s&p was the big loser down 1%. we are barely on pace for an up week we will see what happens with that >>> treasury yields. the 10-year note at 3% of the 30-year note at 3.16%. and the wti with the closing above $122 that has national gas prices hitting new highs. $4.90 according to aaa for the ga gallon the average in 12 states is above $5 i think the latest check on wti is $121.90 brent up at $124 a barrel. no end in sight in terms of looking for relief >> we a y2k problem? >> for

howard schultz very publicly biepg $15 billion. tend to sell near the market peaks and buy ner the bott fom level. >>> huch is that the stocks versus the stock stock stock themselves and it would not be necessarily bullish. all of these were straight purchases of stock, not options related. very bullish sign and we'll see if they're right. >> we'll have to watch one step closer to the frank and frank show going to make it happen. robert frank, we appreciate it. >>> sounds good. >>> closing out a rocky may. rbc's andrew silverman may be showing calmer waters ahead. apple. nikkei reporting that the tech giant is moving ipad production from china to vietnam after lockdowns led to months of supply chain disruptions apple has multiple component suppliers to build up the inventory. "worldwide exchange" will be right back ♪ ♪ what do you think healthier looks like? ♪ ♪ with a little help from cvs... ...you can support your nutrition, sleep, immune system, energy...even skin. and before you know it, healthier can look a lot like...you. ♪ ♪

right now howard schultz is going around the world checking in with his associates. he is kind of doing a tour in response to --. -- that have kept starbucks from performing at his highest level including where they need to figure how to make cold drinks. more portly they have a huge chinese business. when china fully reopens that business will grow. i think it will be bigger than the u.s. presence. they are more headline risk. let me go to the long story short. when you hear china is reopening, i want you to think, starbucks. these may not pan out, that's why you do not buy stock all at once. you get into it gradually, step- by-step, inch by inch, by some now and buy some later and that's how you fill a position. with each of these names you have goodness in your pocket. it is unlikely you will get --, that is what makes these stocks viable. this may be a bear market, the prices will come down and these stocks can be winners and that's why have to treat ugly moments like this one -- but for a select few stocks there is some good going on. how about we go to florida.

howard schultz is there. people are watching. he has done it before.stock last week a huge amount. putting his money where his mouth is on this, too. betting on himself. >>> starbucks is considering only external candidates to be the next ceo according to the interview with howard schultz schultz says the company needs new talent and skills to the leadership the company is trying to identify a new ceo by the fall he plans to leave by march schultz says he asked company veterans to leave to make room for fresh blood. last month, starbucks said the chief hr officer and public affairs vp and public affairs vp would depart >> those guys pulling down big paychecks? >>> coming up, we're going to talk to an airline analyst who says revenge travel is alive and well that's next. >>> throughout june, we are celebrating pride month. here is our cnbc contributor >> for pride this year, i'm celebrating a long history of understanding for love and equality i consider myself a late bloomer. it wasn't until five years ago i accepted who i am. since then, my life exacc

take a look at howard schultz just last week >> when i look at gas prices at 6 and getting to $7 we are of how long the american consumer and family can continue to spend at the level they are and so it's hard to be optimistic unlesthere is a to get inflation under control. >> now expect this to be a big theme in q2 commentary and starbucks does tend to cater to the higher income demographic and he said we're on a collision course with time back over to you. >> we talk about pricing power and chipotle is a classic example of that and the stock has not -- it's better than some, but it certainly hasn't -- it's not like it's, you know, been a preserver of value. >> yeah. it's true, kelly if you look at mcdonald's it's still down 10% and it's certainly holding up better than some of the other names have had pricing power and investors are getting concerned because the meal may be more expensive at chipotle than it would be at mcdonald's mcdonald's tends to cater to a lower income demographic and that's why it held up well in the last recession and it's holding up well in this environment, b

i'll speak with janet yellyellen after that, we will talk to howard schultz i'll talk with senator chris bring you highlights from that tomorrow morning. so many other big regulatory issues in d.c. we'll talk about payment for order flow and other things with the guests today lots to discuss. >> for sure. a lot going on in washington

. >> starbucks return of an icon, howard schultz. u.s.uyback and suspend 20 billion on the vesting in the company, which is a good thing to do i like that stock. >> he's not going to stay around that long. >> he will be staying around ee may not be the ceo or interim ceo but he's going to be on the board. >> well taken. jason. >> i like jnj here med tech was really strong i think the consumer segment will continue to grow. supply chain head winds. 2.5% yield i like it. >> dr. jay >> i bought the 20 calls in july >> material stocks have done quite well too and finally. >> you called the play earlier and it was the right one you said the market is sucking up everything that's being dished out to it >> for the most part >> and they preannounced negative margins because of fuel and stock started out down and now it's up 1.3% the market i think is looking through and football analogy you brought up super bowl again. friday is? super bowl >> i'm glad you brought up unp he brought it up to me on twitter. we had the big conversation about the sch

looking only at external candidates for its next ceo, according to the interim chief executive howard schultz. he tells "the wall street journal" the chain needs to add new talent and skills to its leadership ranks. he says he is not a candidate for the full-time job. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ zero-commission trades for online u.s. stocks and etfs. and a commitment to get you the best price on every trade, which saved investors over $1.5 billion last year. that's decision tech. only from fidelity. >> steel and aluminum, we've decided to keep some of those tariffs because we need to protect american workers and our steel industry. that is a matter of national security. there are other products, household goods, bicycles, etc., and it may makes sense. jonathan: gina raimondo, the commerce secretary. maybe backing away from some of the tariffs on china, given the pressure domestically when it comes to inflation. from new york city this morning

starbucks closes stores as part of the normal operations and howard schultz says the coffee giant isonly considering external candidates for the next ceo. schultz says the company needs to add new talent and skills to the leadership ranks starbucks talked to others and hopes to identify a new ceo by the fall t starbucks in the news. "worldwide exchange" is back in a moment we sear savings for you. from coupons to lower costs options. plus, earn up to $50 extra bucks rewards each year just for filling at cvs pharmacy. what the world needs now... is people. people who see energy a little bit differently. where a switch to cleaner power means a more resilient grid... ...with renewables and gas power providing energy whenever it's needed. because seeing a more sustainable world isn't far in the future. we're building it... now. ge. building a world that works. [sfx: street ambience] ♪ ["fly me to the moon"] ♪ ♪ ♪ imagine a community where millions share ideas and trade stocks, crypto and beyond. to the moon? in other words... etoro.the power of social investing. another crazy day? in oth

i started buying it after return of howard schultz, he is an icon, legendary. he needs to fix he needs to fix china, china needs to reopen and expectations are low. the u.s. continues to hum along. last quarter comp. of 12% and margins rose i think there's not a ton to fix. i like that they have $20 billion on the sidelines they can invest in their businesses in food, people, and places. i think that's what he is going to do. then you have new ceo that will join or be announced, hopefully announced by fourth quarter. analyst day in september should be a nice catalyst as well long term i think they can grow earnings 8 to 10%, get back to 17% operating margins and it is down 38% another quality name i think is on sale. >> josh, why did you swap starbucks for dutch bros >> i like both companies, return profiles i think will be different. we have seen starbucks, probably 100, 110 dollar stock. dutch bros, buying into something at an earlier phase with that hockey stick type potential in front of it, not behind it. no reason why both couldn' saying it sees strong fl

starbucks, the company struggling to get the focus back into their offices the starbucks ceo howard schultz get on my knees, i will do push-ups or whatever you will, just come back to the office and he is talking about nonretail employees, that will not show up to box office space and everyone is having same issue, employees are so spoiled during the lockdowns, the day drinking in their pajamas, the nobody wants go back to work at thing only company that is fully suffered now is cnn, and this is because they don't want to end up on the zoom call with jeffrey dubin. alicia: i'm surprised if that they have to ask and beg like if you want to paycheck, you're going to have to come to work it does not seem that much too complicated and justin bieber recently revealed that he was canceling my joe's, virus that causes shingles and chickenpox in an earlier post he said that he could not swallow like an extended to hear on the side of his face that is impacted but now his latest update and he posted that he's been getting progressively harder to eat and is become incredibly frustrating and is asking

i don't know if you heard howard schultz of starbucks at the top of the broadcast, but basically, he said there are things on the collision course and one is the rising parts of gasoline in many parts it's $5 on average and in many parts of the country it's about six, pressing on seven. number two, you will certainly have higher interest rates and higher borrowing costs is there any way, then, if those conditions persist and overall inflation takes a longer time to tame than we think that we avoid a consumer recession in this country? >> there are, i think, different ways at unpacking what a consumer-led recession might mean, tyler. unfortunately, there are certain pockets of demographics who are going to feel this dynamic inflation and the lower income demographic in the united states i think are in for a very difficult time, unfortunately. there are other pockets of the consumer base who have still got strong balance sheets and benefited from rising asset prices over this covid cycle who will be able to weather the storm. so i'm very concerned about the low-income demographic and l

would have a material impact on inflation we'll talk about that later on a retail segment, but howard schultzke it up yesterday, ceo of starbucks what economic impact would that have >> i think it is only marginal i think in many ways it's a bit more symbolic than real. i think you heard today from brian deese at the white house that the main thing the white house wants to do is give the fed room to take it's necessary actions. at this stage it's primarily monetary policy. anything that the administration can do might be marginally helpful, certainly would signal sb interest, but i wouldn't argue that's the main thrust in terms of getting inflation under control. that is primarily at this stage in the hands of the federal open market committee and the federal reserve more broadly. >> well, and president putin, unfortunately, given what's going on with energy and food prices roger, thank you roger ferguson. >> thank you >>> let's give you a check on the markets right now, down a little less than 700 points here on the dow again, we were down more than 850 at the low, but still a pretty ugly da

china is up five straight weeks, that has been working, i know that howard schultz is trying to figure out the next level of starbucks. i know he's trying to figure out how to make it so that the workers are well compensated. he will pick a great ceo, and i am all in. what's been great is to hear him turn away from third-place, hang out, use the wi-fi and chill. let's get the people through and in and out. >> iced coffee has fallen off a cliff at dutch brothers, but they're having their own problems. i actually just think that that may be the bargain. simply because i didn't expect china to turn like this. china has decent numbers. there is a cell today, the stock is up. a lot of good things to say, wasn't just olive garden that was good. i actually think some of these companies, they have seen downturns. they are not worried because they lived through downturns. what do you do? they are under the desk. one name to watch today, chewy. that is the highest since mid april. that company has made a nice recovery. that last quarter was kind of business as usual. it's impressive. there is a

that unlockdown in shanghai is real >> i'm looking at a video sent from starbucks, cc'd also to howard schultzus enthusiasm for the openingopenings, talking about -- we reopened nearly 640 stores, and 10,000 partnerships we'll be serving customers daily. you're looking right at this was reading how shanghai was not open. >> 940 stores had been closed, now opening over 600 of thousands with the reopening of shanghai >> i want to show you this video cc'd to howard i think he should come on. this is a big change. >> it's a good video a lot of people. >> that's what i'm saying. >> when the facts change, you change your mind, that's right >>> all right. let's get over to bob pisani with a quick look alternate what's going on in the market this morning bob? >> good morning, david growth is getting clobbered. value is doing a bit better, so energy, some of the consumer staples stuff. when i say growth, it's technology, communication services, and you can see what's going on there, communications service, a tough morning alphabet is down two, meta is down two tessa is in consumer discretionary, believ

howard schultz telling wall street journal the coffee giant needs to add new talent and skills to thet the stock in the premarket, shares of starbucks up more than 1 and-a-half percent. britain's prime minister will face a vote of confidence today, triggered by members of his own party, facing backlash during parties held at downing street during covid lockdowns. a contest to find a replacement will begin. queen elizabeth the second surprising crowds, finding the strength to make an appearance on the final day of her platinum jubilee. me was not expected to -- she was expected not to participate due to mobility issues but she appeared on sat your dafer dafe. a 4-year-old was found making faces at her mother. he has been the star of the show. he is a kid and a he made it clear that he is a child. dagen: i want to say something that might get me in trouble. a little bit. want me to say it? cheryl: oh, please. dagen: is he -- let's hope he doesn't turn out like prince andrew who was the third. cheryl: or even harry. harry was kind of a brat when he was a kid if you remember that. he was,

tamara hughes with 18 million and howard's schultz very publicly buying $15 million of starbucks stockok back the reins of interim ceo. insiders tend to buy near the peaks and sell near the bottom they sold a record $170 billion of stock that is still a huge number next to the billion they bought in may but it is a big turn around. >> we do that on wex i'm shocked by the size of the numbers. i've seen the numbers weekly get a little bit larger. usually 3 million is the biggest we see in the weeks. we've had weeks that are 20 million, 24 million. not always right do you find more comfort in the size of the transaction, the confidence level >> yeah, you're right. this data can be very noisy. very idiosyncratic but when you get a broad-based extreme change like this, whether it's last year's record selling or this broad based buyers where you get a wuone-to-one ratio we'll see if it continues for another month or another month after that for this month, it's significant. >> the dish network number catching our eyes. wasn't charlie ergan it wasn't the founder. people get confused, robert.

, the wall street journal is reporting that they want an outsider to replace the interim ceo, howard schultzll. that's when they name the new ceo. they train them, the official handoff would happen in march. stuart: okay, and they're doing well today along with everybody else in the markets. starbucks back to $80 a share. now, didi, that's the uber of china, surging. that's 33%. lauren: no that's 55%, if my eyes read correctly. i was going to the stage manager before like i can't see anything because they are so far away. this is the news and why didi is up 58%. chinese regulators are backing off and they see their economy is suffering so they had a year- long war essentially on their tech giants and they have stopped it. so it's didi but i can show you two other companies if you can bring up full truck alliance and also the online online recruiter they're all up in a huge way. their apps could be back on the app store in china this week , and they can finally start to add new users which they haven't been able to do for over a year. what does beijing get out of this? they are expected to be