it is not really an ipo. as a second ipo but the company has been public. i do not think you can compare this to some of the new issuance for companies that are sort of 10 years old we're going to see the next coming weeks whether it is instacart or turo. i think those be more representative there is a reopening of the ipo market. this is good press. it will create excitement. matt: how do you expect those to go? i'm excited to see how armored sports does. you mentioned instacart. that will be fascinating because they were a darling of the pandemic, certainly seemed revenue fall dramatically since then. how do you expect those ipos to go? greg: every company is different. you have to be careful about bucketing all companies with the same metrics. i think this ipo has demonstrated there is demand for growth businesses, typically companies that go public our growth businesses. i think each individual company will need to be evaluated on that basis. we still in a situation where rates are higher than they were several years ago. very stable. interest rates for

that is more than five dollars above its ipo price. that is the ipo pop for arm holdings.his should take a few hours to get the first trade movie for the underwriters to make sure the book was built in time and is just about to spend the day as you can have for an ipo in the year where we have had virtually no ipos. at $56.10 a share you are looking at a company that is worth near $59 billion. we will turn to abigail doolittle. this is a landmark day for arm. abigail: trading higher by nine .5% there was a possibility they would price it $52 but the ceo wanted to make sure they were not too greedy and it seems that him and the bakers did a good job of raising the valuation on the actual ipo price. this is the biggest ipo of the year and the reason that matters is because last year there were 179 billion for the market in the year prior to that 630, there has been a drought this year. will this ipo stake successful through to close. it will support instacart next week. going into next year will it create what they want to see relative to having the confidence that big tech

the ipo priced at $30, build up for us to our this listing. >> it is the second ipo at the share this week. instacart priced at $30 per share. i would say you just brought attention to instacart. is the sun coming up on ipo's? maybe. caroline: calling in early. >> maybe it's not quite as much to fully youth all the frost and i think that is what we are eating. it is let's see what happens today. there will be shifting around there. it seemed -- it is the third major offering in a week. there is clearly momentum. i spoke to andrew this morning, cofounder and ceo come on charlie and he said his claim is if your company that has discipline, -- if you are company that has good discipline and economics, you can get out and investors will listen to you. it is a claim, i'm sure we will see it in a while. caroline: we are about to go to a long-term investor whose view has been this company has capital discipline. all these companies are pricing at the top end of the range. so they are managing to lock in a decent amount of money, not leaving perhaps as much as some had left on the table. who

and they beget ipo's.he sentiment is turning around and tomorrow is fed day and if and when the fed is done raising rates, that could be a sign for more capital markets activity. the second would be the regulatory action taken by the fed and others, the basel three endgame. these proposed rules pass as is or will they be more market friendly? then there is the issue about efficiency. i asked the lead director of goldman sachs about their priorities at the board level and they said execution. the top three is ai, artificial intelligence and using that to become much more efficient. i will be monitoring the ability of goldman sachs to meet their efficiency target which they have missed, to continue to gain market share especially when as markets improve and always keep risk management mistakes to a minimum. that's top of the list for goldman sachs and the board. jon: what about those picking between financial plays on wall street whether they want to believe in the story of jp morgan and jamie dimon were the

the ipos waiting in the wing?ning me now is business editor at axios. since we were just talking about softbank, david, i want to talk with you. you're not all that impressed by what masa has been up to lately -- dunkin, sorry. but do you think that now that is out of the way, it shows that we cleared this hurdle, even for a listing that felt a little desperate. >> i must say i'm amused to say that a softbank risk in a stock, that's a new one. but i suppose it's sensible. this company, arm, is to smartphones what intel is to pcs. it should be a core holding of most portfolios in tech. so i'm happy this thing is public. i don't think masa is going to sell. i think he can leverage his position to do other things, which is probably what his real plan is. i will say this, though, this ipo is normal. it goes off 10%, maybe 15%, 18%. that's a normal ipo. but it's not big pop. so i think we're all waiting for next week with -- what is it, the other one, to go public, to really see if this is a tech story now. >> very muc

why come to an ipo market now? silvia: let's look at the arm ipo.pany was ready to come to the market and it was decided the volatility was too much and so they waited till the after summit. from a company perspective, a market perspective, there were all the ingredients to be sure this was good timing to launch. you need to start from somewhere. blockbuster ipo, the arm ipo, is the only one to test the market right now. the reality is the backlog of ipo's after a very quiet 2022 is important. i think this is just the first start for companies that wanted to come public because of funding needs, but 2024, in my view, will be the year for europe and the u.s.. we just need to ensure the ipo's that are coming now are going to do with the proper way and the market is going to sustain. and the appetite is there. the ipo window is open again. kriti: silvia, you are the head of equity capital markets at unicredit. why should a company talk about equity issuance one perhaps there is a little bit more of bullish thought right now in terms of treasuries and t

some of these ipo's seemed over prescribed?t is they're the same kind of demand three days from the training in? jeff: there were always be buyers at different price levels. companies are laying out their vision for the future. they say here's where we can get to in terms of revenue, earnings so the investors will be watching and the first few days but also the first few quarters. can they come out of the gate strong? can they get their numbers in the first few quarters? and that will differentiate the start up market. caroline: we talked about long-term investors. thank you so much, coming up, we will go back into the world of product launches. microsoft will be rolling out is ai assistant. we could learn what the price point might be. ed: take a listen to what the microsoft president had to say about a yard regulation at the united nations in new york city. this is bloomberg. >> is the concern that ai will go bad, out of control and a threat to humanity. when you step back and think about it there are specific use cases where

see what ipos are available today at sofi.com/ipo. sofi.y right. >>> welcome back to "the exchange." disney is on track for its best week since march. remember, just last thursday it closed at its lowest level in nearly a decade and breaking below $80 a share. now a little different story, but there is a reason. julia brings us the details. julia? >> reporter: well, kelly, it's the beginning of the end of an era for disney, as sources tell me that the media giant is talking to a wide variety of potential buyers for its linear tv assets. a source close to the situation tells me that next star media group, the manation's largest t owner, expressed interest in buying abc and stations. and the ceo byron allen says he offered $10 billion for those assets, plus fx and national geographic, based on the assumption of $1.5 billion. it's unclear how he's going to be raising the funds for that offer. disney says -- while we are open to considering a variety of strategic options for our linear businesses, at this time, the disney company has made no de

right eaahd, what the arm ipo means for the venture capital market and the ipo window.ait the first trade. g co-workers rock stars. look, it's great that you use workday to transform your business. but it still doesn't make you a rock star. so unless you work with an actual rock star. hi, i'm ozwald. hello ozwald. pam, you are a rock- i wasn't going to say it. ♪♪ this is cynthia suarez, cfo of go-go foodco., an online food delivery service. business was steady, until... gogo-foodco. go check it out. whaatt?! overnight, users tripled. which meant hiring 20 new employees - and buying 20 new laptops. so she used her american express business card, which gives her more membership rewards points on her business purchases. somebody ordered some laptops? cynthia suarez. cfo. mvp. built for cynthia's business. built for your business. amex business. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed

and the big ipos are coming.hing about risk appetite i think this is a sign of health this isn't like the floodgates are open it's just a good sign. >> josh, one look at this before we go to break is this ipo market something investors should be feeling more cautious about or one we feel the ipo is good for the broader market sentiment >> i think it's good i agree with jim these are not the deals of 2021. instacart is profitable. arm is very profitable these are not spacs, not companies we're going to land on mars we'll get there. we always get there. that might be a '24 story. important to point out instacart is not a grocery tech business, it's an advertising business sending people into stores with an app and delivering, none of that makes money the money is where pepsi steps in and spends a few hundred million to make sure their products are on the home page of the app so when people are shopping -- it's an ad business. it's very convoluted how they get there. a four-sided market. it's nothing special arm is

arm pricing its ipo at $51 per share. that is at the high end of the range, an offering size of $4.9 billion and a fully diluted valuation of $54.5 billion. all of that according to a source familiar with the matter. earlier in the hour, we were told that arm and its advisers were leaning toward a $52 per share ipo pricing, and that was pretty much baked in, but over the course of the hour, with those pricing discussions, ultimately took a more conservative approach at that $51 per share, which is at the high end of the range, but not above it, so, $51 per share for this offering. i'm told by people familiar with the matter there should be a release out momentarily that says that $51 number. but gerngagain, largest ipo in several years and it will be a much anticipated debut when it is listed on the nasdaq tomorrow morning. >> all right, leslie, thank you. top of the range. it's already gotten a buy rating from wall street, not really surprising. wall street loves to jump all over this stuff. new street initiating it with

see what ipos are available today at sofi.com/ipo. sofi. get your money right.oes out and we still have wifi see what ipos are available today at sofi.com/ipo. to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity 10g network. the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity 10g network. >>> welcome back. oil prices hit their highest level since last november this morning before reversing lower. it came as the iae says extended production cuts from russia and saudi arabia could keep the market in a substantial s

the ipo is well received. you have the nasdaq, the dow, all the s&p trading similarly in terms of their percentage gains. how do you see it? >> i disagree. i think higher rates had impact the stock market at some point. i do think it will. it will be harder to get the earnings growth people are now projecting for 2024, as jason said, it gives people an alternative which we didn't have. we had negative real rates for most of the last 15 years. it pushed a lot of people into equities, and that's reversing. especially small businesses that are the backbone of the economy, so i think it's -- i understand why people are saying interest rates don't impact the stock market. we haven't seen it yet, but just mathematically i think they have to at some point, and that goes into a little bit of our repositioning we just talked about. >> guys, can we throw up -- i'm going to do this on the fly -- at&t, up about 2%. i see a report they updated their guidance, guiding free cash flow q3, it was $4.95. being talked about at t

katie roof who covers ipos for us for bloomberg.n the west coast which is helpful in the tech industry. we are seeing a drop in stocks right now and a selloff in bonds as well on the back of economic news out of the u.s. this morning. the s&p 500 trading at 4455. yesterday, we were at 45,000 -- 4500 event. what is interesting is the move up in crude, even with a pessimistic outlook for the global economy. we see crude continuing to gain. jon: could end up being nine days in a row, the longest stretch for energy since 2019. we are maybe starting to see overall appetite for energy stocks as well. matt miller, i'm jon erlichman. this is bloomberg. ♪ ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines. romaine: a disappointment in the equity market. here in new york, i'm romaine bostick. katie greifeld: here in the u.s. we are looking at a down day in markets. we had some pret

this is largely around that ipo story. instacart is finally a backed company coming onto the markets. waiting with bated breath. remind as if they are making money on this. we know that the valuation is significantly lower than the heyday of covid for them. >> sure. it depends on when they invested. anyone who invested in 2021 when they were valued at 39 billion dollars, they are not making money yet, if ever. the investors who invested very early when it was just a tiny start up, it has turned into a multibillion dollar company. early indications show this company is probably going to pop, a significant pop. maybe 30% or more. that would put it at or above the 13 billion dollar valuation that the company lowered itself to last year. it's internal valuation. the company was aware of market conditions and realities. they knew $13 billion was more reasonable of a target. caroline: more than a decade old, this company. since its founding it has changed the way it strategizes and moves forward. especially under the new ceo. i

one of the hottest ipos will begin trading later today.ner arm has secured a $54.5 billion valuation in its us initial public offering. arm has already signed up many of its major clients as cornerstone investors like apple, nvidia, alphabet and samsung electronics. arm priced its ipo at $51 per share, which will trade on the nasdaq. the bbc�*s erin delmore has more from new york. if you have a smartphone, there's a 99% chance it's powered by a chip designed from the softbank—owned company arm. shares in the company are expected to begin trading thursday in the year's biggest ipo, which could raise up to $5 billion, taking the company's market value up to more than $50 billion. this is the first time in seven years that the company is selling shares to the public. last year marked the slowest yearfor american ipos in three decades, due in part to high interest rates, recession fears and geopolitical tensions. that's on the heels of a few tough years for ipos, prompting questions about why the british chip designer didn't get listed in lond

know your ipo continues next. >> before the break i told you why everybody is so excited about this ipoortant semiconductor companies in the world. i have some issues like an overlying in the smartphone market. they are working to correct that, but it's going to take some time. as much as i like that in theory the stock have plenty of problems. it is much harder to make money with the stock all the way up here. first off they have a very confusing situation going on in china. like most companies arm operates in china. it effectively resells technology. last year they sold their interest to a different subsidiary of solvang. that is the investment holding company taking arm public. that deal allows arm holding to treat arm china like a regular customer. the downside is i don't really control the chinese business. when you take a closer look it is clear that they never had much control in the first place. in the end the chip designs are so essential they will be able to do a lot of business no matter what. the china situation is certainly a complication. secondly, even after coming public

we are seeing that in the other ipo's.urope need to do to get some of these ipo's back? >> it's difficult to say. with the u.s. market, it's starting off -- it's hard to say how we will draw back in that particular spot but i think it will be interesting to see how they perform and how well they are doing. then other companies will feel comfortable to ip and other markets. alix: is it weird that their customers are buying shares? >> i wouldn't say that it's weird, it's probably shows how important their designs are to these particular clients. it reinforces the fact they have a belief in the arm design and it could have a potential ai runway going forward as well. guy: carry-on. >> it reinforces the fact that many companies want to invest in the ai trend and be part of it through arm as well. guy: thank you very much indeed. that's ahead of the ipo tomorrow. it seems as this may act as something of a catalyst. it feels like an awfully long time ago we were talking about ipo's. alix: we were trying to figure out the choreog

the ipo market is in a good place. the renaissance ipo index is up about 30% year to date. we're also seeing solid returns from the years and large issuers. volatility index is settling. all of the pieces are falling into place for a gradual pick up to year end leading to a normal market in 2024. as far as what activity will look like? we have eyes on bio-tech and consumer brands and energy companies. >> all right. bio-tech and consumer and energy of the avery spear, thank you. >>> coming up on "worldwide exchange," new york city rolling out rules cracking down on companies like airbnb. why landing a short-term rental to the big apple may be more difficult. we have more on that story when "worldwide exchange" returns after this break. ♪"please don't go" by harry casey, richard raymond finch♪ (sfx: ping) (♪♪) ♪ please don't go ♪ ♪ please don't go.. ♪ ♪ please don't go ♪ ♪ please don't go ♪ ♪ don't goooooo! ♪ (♪♪) ♪ don't go away ♪ (♪♪) ♪ please don't go ♪ >>> welcome back to "worldwide exchange." that is a live shot of new york city. new york city is important. the process o

there's not been an ipo, and this isn't even a real ipo.ing of a company similar to kendu, the j&j spin-off. so, you know, you're going to -- but this is -- what you're saying, there's demand for that, people want to buy ipos. and then you're going to see next week with instacart, you're going to be able to buy real traditional fast-growing ipos as those guys come out, and there's a lot of -- there's a lot of appetite for that and they're structuring the deals the right way. >> these are companies that have been around for awhile and their valuations have been marked down from their peaks dramatically, so, that sort of bodes well for them in their debut in terms of pricing. and i'm wondering if you think that's sort of what needed to happen. >> they had to. they had to price for the pop. if arm would have traded down today, the market would have felt a lot differently. so, they priced it the right way so they get a pop, and they also have a very small and limited flow. so, they're constricting demand and pricing it the right way and it's th

ipo price.talk about that and more when we return on "power lunch." i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones (sirens) [due at target in 5!] copy that. make a hard left down the alley. network's got you covered. [please confirm requesting back-up.] -changing route. -go. roadblock ahead. ...back up, back up... reverse! reverse! next level moments, we're 30 seconds out. need the next level network. [north corridor, hurry!] -coming through! -or 3, let's go. the network more businesses choose. transplant received. at&t business. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long

ipo. more on that in a moment.ower in the pre-market falling .50% in pre-market. the biggest laggard is the chip names. asml down 3%. applied materials down almost 3%. similar for other names like adobe after earnings with a tough week. lam research is down as well as kla. this is on an issue with taiwan semi with shares down .30%. we will talk more on that later in the show. >>> we want to talk about oil which is sitting at 11-month highs. wti is the u.s. benchmark above $80 a barrel. off the highs right now. brent crude at $93.91. natural gas is moving higher up over .50%. >>> turning back to the top story this morning. uaw officially on strike against all three of the big three automakers for the first time ever. the two sides failing to strike a deal on the labor contract before the midnight deadline. this morning, thousands of workers hitting the picket line. phil lebeau is at the ford assembly plant in wayne, michigan. phil? >> reporter: frank, 3,300 members here on the picket lines. they build the bronco and

remember that, you know, ipo buyers that bought into ipos in 2021 all got wiped out.re all going out this friday, this is the market basically tiptoeing back into ipos, and i just think that there's a lot of price discovery going on, and i think investment banks are working hard to figure out what the market-clearing price is going to be. that said, at the end of the day i do expect all three ipo tos to be successful, they are going to go out. but the market is, again, or trying to figure out the right price this year. liz: well, you've got the a.i. swirl. you just look at zoom today, zoom video communications, zoom is popping a couple of percentage points here after announcing that it's got an a.i. sort of assistant, an a. a i. co-pilot, so to speak, and you won't be charged extra that. there'll be no additional charge if you're already a zoom customer. this a.i. world, this hype cycle, and i don't know if it's fair to call it that because it is seemingly very real, still has the power to pop these certain stocks like zoom, for example. and that just leads me to this

see what ipos are available today at sofi.com/ipo. sofi. get your money right. icy hot. ♪♪ heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. >>> let's get a market flash on citi group, which is higher today on the back of a pretty big reorganization announcement. leslie picker with some details. leslie? >> yeah, sarah. investors seem to be encouraged by what they see here. but ceo jane frazier making a surprise appearance at a financials conference today, speaking alongside cfo mark mason. frazier commented on the reorganization that citi made this morning, calling it the, quote, most consequential change to how the firm will be organized and run in almost 20 years. citi is creating a direct link from each of the firm's five businesses, services to markets, banking, wealth, and personal banking to the ceo's office. it's also consolidating all markets outside the u.s. to one direct report. now, with this streamlining, there will be job cuts, i'm told, although citi has yet to qua quantify those. >> hard, consequential, tough de

most ipos start trading down in the days after the ipo. the big pops are on the first day.lity and so we got to wait a few weeks to see if this thing stabilizes. >> we'll check in with you all morning long. leslie picker and bob pisani. back to sara eisen with citadel's ken griffin. sara? >> hi, thank you. i am here with ken griffin, founder of citadel. good to see you here at success academy which you want to talk about. >> it's great to be here today. >> we're going to talk about education and why success in a moment, but first, big markets day for us, big ipo day. the folks were talking about arm. do you look at arm, which is the biggest debut in a couple years, as a sentiment barometer? how do you look at ipos and what they signal about where we are in the market? >> clearly the arm transaction is a sentiment barometer. the very fact that the deal is coming to market today, tells you there's a perception that our capital markets are reopening for ipos. and i really hope this is a deal that goes off very well today. we need to see all of the vc-backed companies over the

it is not the only ipo. ed: it is a mad monday. let's keep the ipo conversation going. klaviyo gears up for its ipo. i have never seen anyone as keen to break news as ryan. let's respectfully say it was the less talked about name. but what will happen in the next 24 hours? >> you say it was the one less talked about but if you look on paper and think about size and profile, instacart is very similar to klaviyo. they are both pushing a $9 billion valuation. it has followed instacart's lead . they were looking to boost the price range. they are now pushing $27, $29 price range. i think this confirms what we learned last week. this is still a tentative time for markets. there has been a shot in the arm for companies perhaps thinking we have a good amount backed up by cornerstones. let's play it safe and smart. they are pushing --they are raising their range. ed: you saw the names behind clay be out --klaviyo. which banks will help take it public? >> 11% of their revenue comes from shopify. i think when you start thinking about how the consumer responds in the retail appeti

clients the ipo window is open. tech ipos came to a halt late 2021 and arm is the first big one and it went well per year it went up 25% which is where they often aim for it to go. we saw instacart raise their price range partly because of this. it shows public investor enthusiasm. arm and is different companies, but bankers are going to argue a sign of tech enthusiasm broadly. instacart range from 26 to 28 to 30. still lower than where they were both better than where they were hoping a few days ago. caroline: when we hear the reports of just how hands-on mass that was in the process and maybe he decided tender shoot the overall price range she could've got for the shares, leave money on the table to get that from are we likely to see that replicated the others who want to come to the market? how difficult a balancing act is it? katie: what happened was unusual where they thought they could price the company at 52 a share but arm went with 51 partly because he wanted to ensure big pop on the first day but that mean

wall street needs a good ipo. it is not about shooting the lights out.t is switching them back on and getting more ipos back on. >> it is interesting with the skin in the game. >> they all need this to su succeed. >> james, absolute pleasure. we can't wait to read the book. thank you for coming on. "the everything blueprint." james ashton. > there has been a lot of hype with a.r.m.'s ipo. you can see more on our web site. what do you think ahead of the anticipated listing ? get in touch with us at x. >> such a bad pun, but i like it. it won't cost you an arm and a leg. >>> coming up on the show, maersk makes waves in the shipping industry. sylvia is joining us from copenhagen next. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit cov

and instacart shares are popping on the first day of trade but many looking ahead to the next ipo set to price in overtime tonight. we'll have those details coming up first our talk of the tape how resilient is this economy and what's at stake when the fed updates the policy outlook tomorrow afternoon here to answer that, dan greenhouse from soulless alternative asset management good to see you. >> thank you, sir. >> do you think that's the right question here? a lot of agreement on what the decision is going to be but the tone, outlook, whether they can build in expectations of a soft landing we can believe. >> i don't think there's a tremendous amount riding on this, we know they're not going to raise zbbest and rates, they pretty much telegraphed that. next year, they said 100 rates cut, so do they ramp that up or scale that back on the idea it's going to take longer to get started on the rate cuts that's the interesting conversation tomorrow. >> in terms of what the market is contending with it's funny, back to july, we have the friendly inflation print and almost immediately oil

cheryl: i'm glad that mark brought up earlier in the show the instacart ipo.as supposed to be the biggest ipo that we were looking forward to an arm is coming out, that is another one. if you don't see the ipos hit the market, earnings to turnabout for the next quarter which begins in a couple of weeks from now, that is where you're going to see the markets start to face pressure. >> this is not the right way to purchase investments but a lot of investors look to buy things that they know, that is the peter lynch model they like to buy things that they understand it's not always a good investment you have to look at the quality of the underlying business and when it comes to ipos there's very little investor appetite for ipos ever since we came out completely flopped. for instacart which is something a lot of people who are watching right now use regularly to be losing so much momentum to go to evaluation from 40 billion down to seven and a half that is remarkable. cheryl: i want to turn our attention to the day today, today is september 11. it is been 22 year

i'm holding is pressing its ipo at the top of the range, in the biggest ipo of the year.lus, this is the failure of the taiwanese presidential candidate shaking up the race with an unconventional campaign, including a rap video. vonnie: take a look at how u.s. futures are trading. really small moves in the session after we saw a smaller picture in the regular session. it was a mixed finish on the s&p 500 seeing a slight pain, but the dow underperforming. china flagging concerns over the iphone. really, reaction to what happened to the u.s. epa. , where we saw a bit of a mixed picture. we had court cpi accelerating the first time in six months, which puts into question what happens with the tightening move later in the year. perhaps not much of a change for next week when the fed decides . investors are concerned about more rate hikes to come. wish i treasury yields falling across the board, the 2-year yield falling below the 5% level. . also watching oil prices rebranding. we have seen a bit of pressure during the new york session, but we have been following the supply pi

ipo are down this morning.viyo. >> you know, instacart is profitable, there is some profit there. these are all different companies. the thing that is different from last year is they are all tech companies. instacart delivers groceries, but it is a atek com-- a tech company. they are both in the business of helping you buy things klaviyo's biggest customer is shopify. to some extent, klaviyo and i instacart is testing the consumer if they are doing well, that means the consumer is in a good place. >> sarah and stacey, thank you don't miss the interview with instacart ceo. a first on cnbc ebs i you don't want to miss it. >>> coming up on "worldwide exchange," we have the top trending stories katy perry selling her songs to litmus music this follows similar moves from bruce springsteen in recent years. no reported price tag on the deal. >>> the show must go on. "dancing with the stars" will promote next week despite back l lash from the hollywood strike it will work to stay in compliance with the rules of the st

the initial public offering, or ipo, was oversubscribed by ten times, and it values the company at more it's good news forjapanese investment firm softbank, which bought arm in 2016 for around 32 billion and retains 90% ownership. but it's also been a blow to the london stock exchange, which was snubbed in favour of the us tech exchange — the nasdaq — despite a personal intervention by the prime minister. our north america business correspondent, erin delmore, reports. if you have a smartphone, there's a 99% chance it's powered by a chip designed from the softbank owned company arm. shares in the company are expected to begin trading thursday in the year's biggest ipo, which could raise up to $5 billion, taking the company's market value up to more than 50 billion. this is the first time in seven years that the company is selling shares to the public. last year marked the slowest year for american ipos in three decades, due in part to high interest rates, recession fears and geopolitical tensions. that's on the heels of a few tough years for ipos, prompting questions about why the briti

researches of the ipo market. we had three major deals.hen a digital marketing company -- all told according to the ipo experts from renaissance capital, there are 11 deals of september that collectively raised $6.7 million. capping off -- it was the best the ipo market has been since the fourth quarter of 2021. so now that we had three major deals in the last month, it is fair to ask how did they go? how did they do? to which i say --. i'd say they went great. priced at the high end of the -- range, it had to be raised in the may priced at the high end of the range. they got out. i also think this is perfect results for the investment banks especially goldman sachs. they had a major role in all three deals, something that makes me feel pretty good about my alma mater. -- investment opportunity right here. once again if the ipo market keeps recovering, that is a great reason to buy the investment bank stocks. we care about most of all how did the investors do? and if you look at how the investors had done, then you get results that are fra

so i think if you look at the arm ipo, you look at the instacart ipo, it respects the -- reflects the fact that there's at least enough demand, -- the. liz: you brought up arm. let's talk about arm. arm had a boffo day buy last thursday, and it skyrocketed. right now it's come down, pretty much three days in a row, and today i believe it is the down another 6%. yep, about 5% at the moment, so it's off the lows of the session. it is still above its initial valuation of $54.5 billion or pricing, i guess. but is this a tale of, i guess, beware kind of, of these very frothy moments this time, and how long do you wait for something before you decide now it's the real thing, i believe in this company? >> i would separate arm from instacart. instacart is actually priced very conservatively at the $30 per share. it was priced on the assumption that you would have lower take rates going forward for the instacart, and growth would be, you know, 10%, 12%. this wasn't, i mean, this wasn't a frothy moment you saw in 2021 when everything was priced -- [inaudible] arm is benefiting the fact that it'

are they more likely to ipo?re we passed the arena where you can just be a tech ipo and not necessarily turn a profit yet? >> we definitely have turned away from that. that was two years ago. most companies could achieve high valuations. that is no longer the case. most investors want at least a clear path to profitability. the fact that instacart was profitable last year is helping it a lot. whether it will continue to grow that and continue to live up to investors' expectations now. but it certainly seems that given the uncertain macroenvironment, and the continued uncertainty around ipos, because we still haven't had a fully fledged renewed market, it still needs to be solid companies that are turning a profit, or close at least. kriti: i love that you said a solid company. risk-taking is what i am curious about, specifically outside the tech sector. the tech sector will have more beta to it. what about companies like clavia or birkenstock that announced they are ipoing? is there appetite for risk outside the

see what ipos are available today at sofi.com/ipo. sofi. get your money right. >>> welcome back.w today targeting a valuation that's just a quarter of its worth during a 2021 fund-raising round in what could be a bleak sign for tech ipos this year. deidre bosa join us for today's tech check. listen, i love it. i love it, because for everybody else outside of the ipo world and the bankers, the public investor is going to get this at a much more decent valuation. >> right. they're not buying it at the peak. at least we know that, right? it was valued at nearly $40 million. i've been looking at this list, 38 investors in that round, many of them first-time new investors and a lot of follow on, as well and the sequoia that will make money from this because they were there in the early rounds, but this is interesting because if you look back at the ipos of 2019 and 2021 when we saw those big booms and you really -- we look back now and the retail investors, they bought them at the peak and this is a renaissance ipo and etf and it tells you that if you bought a lot of the names over th

they are the beguinea pigs of ts ipo cycle.ything to make it successful, even if that means raising less money. the question is will other ipo candidates see this as an attractive model or say, we'll sit it out, maybe we'll raise money at higher valuations later. that's the question ipo candidates in the pipeline will be asking themselves over the next weeks. >> i was going to ask, who are they? who else is in the pipeline? can they sort of come up with these quality controls that appear more necessary in this environment? >> well, some might argue klaviyo is more important because you have more enterprise software companies in the wings. data bricks had a rare upround in the private market, so that could be a candidate. many enterprise software companies of the last years are not looking at up rounds. they're looking at tougher comps in the public markets. that's why they're judging these so closely. you've also got discord, some consumer names as well. they're all facing that idea. we talked about this valuation disparity. th

there's a lot of expectation about this ipo in south korea.n the korean media this morning that the ipo was priced at the top of the range. this is very significant. this is very important news because the offering itself was already impacting the korean market over the past few weeks because there was a lot of speculation that shares were being sold at the top of the range. there were even reports saying the range itself could be raised because demand was so high. we saw a bunch of other companies already listed and somehow being impacted by the fact that there is, like, this very, very strong interest in the sector as a whole. the parent company called doosan corp, it is a large conglomerate already listed in seoul. there is quite an increase in interest over the past two to three weeks since the announcement was made in korea. a lot of analysts are saying yes, there is clear interest in the sector, but at the same time, it is hard to say for how long this excitement may last. it could even somehow fade before the stock is listed next month.

the ipo was priced at $30. i am not going to talk specifics, but the fact they are shifting to ad revenue -- how closely are you watching the ipo's that come out as an indicator of market health and where the growth is? lisa: your question is the right one, in my humble opinion. the issue is more around what is the appetite among investors for ipo's and to what extent are people looking to deploy risk capital into some of these earlier stage names? i think from that perspective -- just the fact we have been able to launch these deals speaks to liquidity in the market, speaks to decent appetite -- and those are good dynamics for the market. whether or not i personally would be jumping into a name like this right here, you know, up almost 30% on my ipo offer, you know, that is not necessarily something i would be looking at this morning. guy: final question. if the fed pauses, do i buy stocks or sell stocks? lisa: our analysis is that the pause here is not the alexa. typically when the fed begins to cut the typic

arm could price the ipo at the top range or higher. we see if other ipo's are ready to walk the walk. i'm alix steel with my cohost guy johnson. one of the questions i had with was, was the market going to act correctly to the cpi data? guy: i think the interpretation looks like it is not a game changer. the fed is back on the table and that a significant. i wonder whether the market is focusing on other things. inflation has been an issue but growth is becoming an increasing issue. similar over here as well. european inflation does not look like it is going away and it is going to be sticky. the growth story over here looks weaker, but i wonder whether that is the story the market is sniffing out today. whether or not it is going to be similar with the. alix: i am still waiting for that to come down. airfare prices were up, new car prices were also up, maybe that is a supply issue? but it feels more a demand issue and that is something different. guy: i blame taylor swift. it seems taylor swift is responsible for most things at the mo

there has not been any significant ipo in the last 12 months.g what is going to happen. is there going to be a successful instacart ipo which will give increased confidence to venture capitalists, and to go -- or is it going to be a very tuned out and in that case, the companies are probably going to wait longer to go public. ed: you have access to real-time data about the health of very small companies around the globe. how has the preceded market held up over the volatility of the last 18 months or so? >> the early stage of the ecosystem has cooled substantially, with the exception of artificial intelligence and climate tech. having said that, if you look at pre-seed, the valuations have remained fairly stable. there continues to be a great deal for investors, driven by not just ai but blockchain and nanotechnology. compared to a company that took the biggest hit so far, the early stage type of companies have been fairly protected. ed: our -- investing in thousands of ceos -- ipos, thank you. charter and disney reaching a background. this is b

also in the ipo space is softbank which is considering the ipo for a.r.m.t the top of the range or above it. that is according to the reports from bloomberg. the chip designer is close to securing investor support to achieve $40 billion valuation. arjun joins us around the desk. last week, julianna and i were piecing this together and figuring out the investors. it seems like now that has been successful because we are looking like a deal is oversubscribed. >> it is. there are questions here if softbank has been cautious with the stock. we know it faced criticism from the investment. we know the trends with the big vision fund and losses we have seen there. perhaps coming to the market with the company with a lot of hype in terms of the critical nature of the semiconductor space and big player in artificial intelligence. that is a question of what softbank is this coming to market and flopping on debut. that is not good with reputation wise. that is part of it. i think there is a bull and bear case for apple. this is a bull and bear case here for a.r.m. it

point is arm has enlivened the ipo scene. so much so that intracart has raised its ipo price. the price of oil, this is important, $90 a barrel this morning. energy -- sorry. energy is fueling the rise in inflation. gas is starting to the move. you've got a national average now for regular of $3.86, up slightly overnight, continuing uptrend. and look at diesel, you're looking at $4.54 a gallon. that will filter throughout the economy. as for stocks, the dow industrials down maybe 20 the, s&p down maybe 6, nasdaq down 47. a little bit of red ink. interest rates, we have the yield on the 10- year treasury, last time i checked was 4 -- i'm sorry, that is the 2-year. all right. we'll tart there. 5.03 on the 2-year. that's up. now let's get to the 10-year treasury. i think that's just above 4.3%. we'll get -- yeah, there you go, t at 4.33. thanks very much. polling ticks. bombshell polling from fox. trump is extending his lead over his rivals. among republican primary voters, he is 47 points ahead of his closest rival, ron desantis. bad numbers for president biden, he is losing gro

of those banks that they ultimately gave the ipo to. want to be using this to of course build out the ai vision. remember, this is a long time commitment from him, that he believes that a future powered by chips, by artificial intelligence. maybe that is why he decided not to sell as much as originally planned. the idea was to raise over $10 million. they actually just decided to only sustain and hold onto a large part of arm, but it is interesting as to whether or not also this is a proof point in the vision fund. remember, they bought the rest of arm from the vision fund. they need to show success in some of the bat they've made. guy: caroline, great stuff. you can of course catch on bloomberg technology in around 90 minutes time. next, the u.s. consumer is resilient in august once again. we are going to talk about it. it's amazing. it continues to be amazing. this is bloomberg. with you to make them real. ♪ welcome back to earth. thanks, it was pretty life changing. dude it was eight and a half minutes. i didn't even get to finish my

instacart is set to top in the ipo market we'll ask one top vc whether this signals an end to the ipo slowdown and what could be next. wooe live from the new york stock exchange you're watching "closing bell" on cnbc. ♪ ♪ ♪ fly to paris. see th smaller than you expected. wait in line. see the mona lisa. smaller than you expected. check in. see your room. bigger than you expected. join one key, where gold and platinum members get travel perks, like room upgrades. >>> welcome back the behrenberg invitational kicking off today at the glen arbor golf club in new york with some of the world's top players competing to raise funds for bank rattic cancer research. around $1.5 million has been raised in the past two years they're hoping to cross the $2 million mark this year one of the players, golf hall of famer and former pga champion fred couples joins me now. good to see you. welcome to "closing bell". >> thank you, scott. nice to be on. >> yes not the best weather, obviously to play golf in today, but a great cause, as we said. tell me a little bit more about what drew you up there in new

the ipo market seems to be heating up. investments where you were the first investor by virtue of the accelerator. giving your view of the ipo market that seems around the corner? garry: i really underestimated the past three or four years to what degree our markets are affected by interest rates. that makes me glad i am at the beginning of it. i think the public markets being connected to early-stage markets by a rope. this might be up and this might be down, but on the flipside, new innovation is completely disconnected to the decisions the fed is making which is a good thing for us. caroline: there is plenty that effects the public markets. we are thinking of china and the kosher there. there is one name associated with the u.s. which is instacart. i know some of you wrote early -- i know you checked in to early and was an advisor to. even though they may have to swallow a bitter pill of valuations not being where they were in 2021 but ultimately being able to stand on their own two, become public, and have a good growt

it is the biggest ipo so far this year.ext week, on wednesday, we get another big one which is a company producing components which will be a huge ipo in germany. >> all right annette, thank you for giving us an update. huge day for frankfurt don't forget, you can watch our interview with the schott pharma ceo at 11:15 cet that is a first on cnbc. >>> s.e.c. chief gary gensler said companies looking to go public in the u.s. should do it before tomorrow as the looming government shutdown would put agencies at a skeleton level a short timeline if you want to get an ipo one-day notice brian moynahan struck a cautious note with becky quick. >> there is a tremendous amount of activity that is sitting there. whether it is due to ipo or whether transactions with the buyouts and things it is not going to go without a certain amount of certainty. >> meaning nobody wants to bring a deal >> very strong companies, that's going to happen. the general flow idea is far away until you get stability >>> on the data front, u.s. durable goods