byjane, nicole, lindsay, gemma and catherine along with their barrister and our own correspondent, kelly pricecatherine, we will start with you this morning, thank you for talking to us. the first thing i think we would say is take your time because i know you all have difficult, challenging and complicated stories to tell. catherine, if we could start with you. tell us what happened. i we could start with you. tell us what happened.— we could start with you. tell us what happened. i was hired in 2005 through _ us what happened. i was hired in 2005 through a _ us what happened. i was hired in 2005 through a formal - in 2005 through a formal selection process and i did not actually know who i was going to be working for. it was said to be working for. it was said to be working for. it was said to be a high net worth individual and it was at the last minute we discovered who it was going to be four and i was hired with nicole. but we never really saw one another, we were kept apart. the first week or so was really humiliating because i had the harrods attire of a black suit and he would call me

they by the way, could and very well may do. >> get into the market share ceo. >> war price versus market share. kelly'se six vans to tote her family around so she needs to price. >> just one very heavy one. >>> we have big money coming out of big tech. where's it all going though? atuetaleavigator will ck th qstion, next. we always had dogs, they're like my best buddies. yep, had them my whole life. c'mon bo! so we got him and he is a, an absolute joy. daddy's puppy. once we got on the farmer's dog he just attacks it, it's incredible. they're so tuned into you and they have such, such personality. being without a dog, i don't know, can't imagine it. [laughter] zbljtsds hush >>> we've been in the red since about 1:00 p.m. only slightly. wouldn't be too hard to flip back, but we've been continuing this trend in september to see these declines. the s&p tech sector, 11% from the july highs. chip sector, about 20% below. where is all that money going? cnbc contributor, carter werth, is with us to answer if it's coming out of tech, it's going where exactly? >> well, i suppose it can always just not go anywhe

and this all likely adds up to higher prices for the products on his platforms, kelly? s like it will change fundamentally the attraction a lot of u.s. consumers have found with these platforms because if you do, let's just say prices double to $5 or $10 that probably could lead to a lot of demand destruction. >> yeah. so far we don't have a whole lot of detail on this exact rule that the biden administration is going put in force, however, it will have a ripple effect. the u.s. customs exemption has been a really big part of the company's success for both of them and without that exemption, it's likely going to have two effects and one is what we are already seeing which is that there will be a greater trend for suppliers to take on more responsibility for deliveries and in that way that's actually good for the platforms because it could lighten their financial burden, but on the other hand, it will really undermind one of the key selling point which is is you go to temu and shein because you want to get super cheap stuff. there will be a question if americans will cont

but $38.50 in cash is the deal price for frontier. kellyck over to you. >> the tie is a little pink there, dom. >> how about the pocket square? >> i'll see you soon, dom chu. let's dig further into the data. the smallest gains in payroll since january of 2021 in august. but both initial and continuing jobless clamsims improved last week. and services cmi, it came in stronger than expected, but the employment component weakened. what does this tell us about the economy and the wobbly stock market? andrew slimmen is here from morgan stanley. our very own steve liesman is here, as well. steve, i still can't shake the beige book from yesterday. i don't mean to bring up old news, but the employment thread throughout the reits this morning was interesting. what do you make of it? >> yeah. i think what we heard in the beige book yesterday was kind of confirmed in the -- at least the adp data we had. and just to remind people the thing that stood out was only 3 of 12 districts were seeing growths, the federal reserve groups. consumer spending ticke

and again, on the margin you're talking about possibly reigniting certain commodity prices and -- >> kelly? >> steve, last word. >> we're at a 62% probability of another 25 in november but a 93% probability of a 50 in december. which seems to be roughly in line, maybe it's a quarter heavy given what your last guest was saying. the market and the fed now don't seem crazily at odds over the outlook, maybe a little more aggressive next year, but right now they're within 25 basis points. they'll resolve that. but right now 25 built in for november, 50 built in for december. >> and the dow has now gone negative. so it spiked to record highs and now has given those up as it maybe changed its mind, believing in the hard landing story. thanks to our panel we appreciate you joining us today. david kelly, claudia saum, and jim caron. mike santoli over at the new york stock exchange. mike, what do you make of this stock market reaction? >> it is the typical first twitch is maybe the wrong move and then there's going to be the backlash and then i rethink of the backlash all in the next couple of hours

price. but like you said, kelly, if you do the math, and forget about -- cross the name nvidia off the chartre is a stock selling at 26 times, in line with coke or proctor and gamble, but growing at 30% next year and 20% the year after that. those are fairly reasonable assumptions. so that's what makes us interested and checks our boxes, and it's also called nvidia. >> correct me if i'm wrong, they announced a $50 billion buyback. that is a massive support to the name. even those 20% to 30% growth estimates, you think easy to achieve at this point. but what feoff some economic pullback combined with reset after people have been ordering so many chips and think okay, i'm stockpiled. >> i guess i'm not so afraid of that. they're not selling to consumers. this isn't amazon. they're selling to microsoft and amazon aws, because these are businesses that are building out ai infrastructure. >> but they're the ones that are stockpiling it. >> right, but even if the economy goes south, they have long-term plans and they have the cash to continue to fund it. what i would be worried about is possible c

mean, 1.5% margins, there's no opportunity for any of these grocery chains to price gouge as long as there's competition and kellycompetition whether it's amazon, target, walmart, the local grocer, grocery store. there's competition. and whenever there's competition, that means you have to be competitive in regards to your pricing. now, with regards to the comments about thing prices, if they did inflate egg prices or whatever it was, i'm sure they were selling something else at a loss. it still balances out to # .5% profit in. cheryl: we're getting the ppi today. that's the producer price index. that's inb input costs for companies, that's what businesses pay and that's what this story is about, whether it's energy, whether it's wages, whether it's the rent they're paying for the -- that's why you're seeing a lot of grocery stores like retail stores shut down because the cost of doing business it just doesn't add up, the numbers don't add up. we're seeing that with walgreens with dwayne reed, for example. >> that's the fallacy of the whole inflation is not tied to price gouging. it is tied to this attempt to get

disney is cutting prices of its ad supported tier, at least temporarily. julia? >> well, kellycracking down on password sharing, and if that getting underway, it's slashing prices to draw those people who had been free loading borrowing passwords. disney's offering disney plus basic with ads for $1.99 a month for three months that's compared to $8 a month it costs, and disney is raising prices to $10 a month. that price goes into effect starting in october. disney is offering this cut price $2 a month plan just until the 27th of this month pushing some subscribers to lock in for three months before those price hikes go into effect now, as part of this new deal, disney is offering subscribers perks around discounts on merchandise and access to sweep stakes, looking to drive consumers to its lowest priced ad supported app that gives disney the advantage of dual revenue streams. disney's price cuts and password sharing crackdown come after the major streamers raised prices in the past year. in june, paramount and max raised prices while peacock's $2 per month price increase went i

kelly. mark zuckerberg just announced meta's new lower price quest 3 headset, it will cost $299, shipping onlls it the best mixed reality device today, saying it's bringing some features from the higher end $499 version. they've been talking about features new fitness classes and better integration with microsoft so it can mare with your computer. zuckerberg announcing some new announcements about the company's meta ai assistant, saying that over 400 million people are already using meta ai with 185 million people using it across the products every single week, saying that some of the news here is that you can now talk to meta ai using messenger and whatsapp and ai will talk back to you. translation, that great use case. julia, how many of these tools that you just mentioned have anything to do with the glasses and how many are accessed from different parts of the facebook ecosystem, which parts are those? >> reporter: meta ai you can access from all parts of the meta ecosystem and how you can talk to the meta ai assistant on merpg, facebook, whatsapp and instagram. so it's fully integrated

katie: and for more on what the markets are pricing and for the rest of the year, we are joined now by kelly cox, chief markets are to just over at rit helps wealth management. -- earlier today said he backed that rate cut we saw, that big one, basically saying the balance of risk has shifted away from higher inflation the risk of further weakening of the labor market. where does that leave markets in the midst of this rally? kelly: i definitely think the risk of sitting out this market is still bigger than the risk of buying at peaks. we will go a lot of that this week and over the next few weeks and we might be stuck in this 50 basis points versus 25 basis points cut environment, but we are telling clients that is not the take away you need to have in this market. the economy is still quite solid. the labor market is stalled at the moment, but we are not seeing unemployment surge. the fed is lowering rates. they seem to be at the curve or looking at what is important. i think we have a set up for more gains into the year-end and next year. katie: let's talk about the composition of those g

kelly? >> wow, wouldn't that be nice, but if that pushes prices up further, how much difference does it make5% versus 5.8% >> every time you do a refinance, they look for 75 basis points if you're buying a home, it cannot only make it more affordable for some buyers, but it also makes them qualify for the mortgage remember, mortgage lending is very tight right now a lot of folks think they can afford it, but they don't qualify for that loan at that rate when the rate starts to come down, more buyers qualify for the loan, and more can afford it >> diana, thanks some big changes on the make >>> coming up, tech and communication services are in the green today, but financials are among the worst performing sectors. when we come back, we'll break down the good, the bad, and the ugly in the space with allied financial failing to rebound >>> plus, no mention of taxing capital gains, tips, or dividends last night during the debate but we have the biggest policy takeaways of what occurred and what both are saying about fighting inflation and tackling the deficit. as we head to break, another check o

price is pretty hard to believe. colbert's new with steph curry plus senator mark kelly tonight on cbs san francisco's mayoral race is down to the wire. so we're bringing you a debate like you've never seen in an immersive format and a new way to set the stage. candidates get a comprehensive look at issues before each round of questions, then present their solutions, understand their vision before casting your vote in partnership with the san francisco examiner and kcbs at the barnes firm, we handle construction accident cases. have you fallen from a height, been hit by a vehicle or a falling object, tripped on job site debris or anything else? call the barnes firm now. you might have questions about workers' comp, lost time from work, medical bills, or if you could get fired for being injured. call the barnes firm to get the answers and help you need. injured on a job site? call us now. ♪ the barnes firm, injury attorneys ♪ ♪ call 1-800 eight million ♪ i went to the doctor and was told i had stage three cancer, and i would most likely never carry another baby. because of this breakthrough trial funded by stand up to

price is pretty hard to believe. colbert's new with steph curry plus senator mark kelly tonight on cbs san francisco's mayoral race isn to the wire. so we're bringing you a debate like you've never seen in an immersive format and a new way to set the stage. candidates get a comprehensive look at issues before each round of questions, then present their solutions, understand their vision before casting your vote in partnership with the san francisco examiner and kcbs i came to bayview hunter's point, where there was only one pediatrician to serve more than 10,000 children. daniel lurie said, i'm going to help. we opened a clinic for our most vulnerable children. i have worked shoulder to shoulder with him as we have brought solutions where people thought the problem was unsolvable. daniel doesn't take excuses. he holds himself accountable. and i know that he can do it for the city of san francisco. >>> it wasn't a wild car chase that shut a los angeles friday down today. instead it was a helicopter. it had to make an emergency landing along the 110 freeway between two express lanes. the pilot managed to avoid any cars

ke kelly, i would point out there's those traders who look toward the futurist price for treasuries as make roe economy will trade so you don't know if it's an indication of perhaps better than expected growth/higher expected inflation. >> could be the good kind, bad kind of yields backups there's still in huge gap between shorter-term yieldsened and where it's expected to be. so this has to be rectified one way or another there's these gaps in the market that don't quite make sense. >> dom, thanks. >>> tyler. >> coming up, kell, we will break do you ceos' comments and the trade in stocks, next. (cheerful music) (phone ringing) [narrator] not all multi-millionaires built their wealth the same way, you have... the fearless investor. the type a cpa. the bootstrapper. the bootmaker. yeehaw [narrator] but many do have something in common. we all trust schwab with our wealth. [narrator] thanks to our award-winning service, low costs and transparent advice. every day, over a million multi-millionares trust schwab with more than two trillion dollars of their wealth. ♪(voya)♪ there are some th

kelly, as consumers, this means we'll have choices. maybe a driverless buffet. big tech may compete on pricebsidizing some of these rides that we saw in the early days if you remember the ride hailing battle between uber and lyft >> so uber, i assume, will slap their name on it, but this is -- they have to be paying waymo a pretty penny to have access to this technology. waymo could just go into austin and atlanta on its own, couldn't it >> reporter: that's right. we don't know the details of the economics, but this is waymo white labeling their technology and hardware there's got to be a subscription here and uber is acting as the front end consumer facing side of the app. but the economics right now are unclear. waymo, think of it as they're going to be the hardware provider, they have their own software you have to think uber is paying up to get a slice. and stave off competition. you see these waymos everywhere. i was stuck behind one on the way to work this morning >> i understand you see them all the time now out in san francisco. kate, thank you very much. >>> let's continue the discu

bumper harvest this fall, and this means they may have to drop commodity prices just to break even. how so? fox business's kelly cut illinois. >> hanna, dana. there are many from the government that this is going to be the third largest corn crop on record and the second largest soybean crop. still, these mega harvests weigh on prices while production and land costs remain high. parts of the corn belt receive a generous amount of rain for the first time since farmers experienced the worst drought in 2021 that lasted about a decade. farmers -- not last about a decade, but from a decade ago. farmers are delaying major investments, let it be land or getting new pieces of equipment. for the 39% of farmers who rent the price per acre has increase% year-over-year. the price of cropland has also increased nearly 5% year-over-year. i spoke to an illinois corn and soybean farmer about what a potential solution could look like. >> we are looking for opportunities, additional export opportunities, programs around increasing those opportunities as well as domestic use, like the production of aviation fuel or increased prod

kelli? >> still able it rattle off those trading points. thanks. >>> rising pricesgroceries continue to be a thorn in the side of consumers. we'll dive into the economics of it all and where prices are headed here and which stocks to buy as a result of that. that's next in our "powerhouse ueinblprt." meet kandi technologies, where innovative, eco friendly design meets exceptional performance. our diverse portfolio includes utvs, go carts, golf carts and e-bikes. explore electric investment opportunities. wall street forecasts over kan$100 billion es. in sales for weight loss drugs known as glp-1. even with disliked and inconvenient injections. dehydratech processing of a glp-1 drug demonstrated improved blood sugar reduction and reduced side effects. study results are arriving monthly. from lexarias, patented oral delivery technology trials. lexaria bioscience, transforming the future of glp-1 drug delivery. craig here pays too much for verizon wireless. so he sublet half his real estate office to a pet shop. there's a smarter way to save. comcast business mobile. y

kelly, mountain time, and the on and as a whole. we believe that russia could participate in this price as to i've said many times before that i can set. i'm also going to be one of the most beautiful and well develop cities and capitals in the world. and i'm not just saying this because i'm brushing anamosa bite and russia could assist in the development of news and tara, in terms of transport, infrastructure of an economy of and management, smart city development, a government, and the protection of personal dates at the residence. we wish and an easy all the best as it carries out this project. and we're prepared to take part in it wherever possible. i would like to draw your attention to the upcoming joint drills with russia. co, ne auto, the 2024. that will be in new nations 1st, since it's independence. so how could you come and on why indonesia, they crush out to be apartment partner in its 1st joined drills eventually, while these white be this 1st joint drills, but definitely the 1st to take on such a large scale. we have held numerous joint excise before including naval like sizes when rushing ships end to the indonesian bul

what health group ultimate are except no remains same lower list price will not lead to less favorable formula replacement by rx energy kellyan drugs like ozempic and wegovy to be clear the lower list prices and a prices support from you larry price and the placement insidious healthcare market set something similar it is said visible answer is no internet we can point to recent history supra point. when novo nordisk reduced the price of their is domestically in 2023, he did not result any less favorable formulary placement with caremark and are also asked if ozempic and wegovy were available for $100 per month for left and less impact with a heaven coverage access, cigna expressed at that if novo nordisk lower theex price, for a plan sponsor to $100 less per patient per month we would expect the vast majority of our plans to expand coverage access to these products were diabetes and weight loss clinical evidence continues to support ethical safety and they said the word list prices with open up access for obesity treatment in particularss united health group optimum arc saidit given his significant price differential for t

kelly. >> just kind of to bring it to the point, what do you think is priced into the stock in terms of expectationse's two schools of thought going on right now among the wall street analysts. one school says, okay, this is going to be the inflection point for a multi-year growth sicycle and this other school of thought saying that's baked in, we learned about three months ago what all this artificial intelligence stuff is, we saw the stock recover from earlier in the year because of that, and therefore, it's all baked in. we're going to have to see. we all know that people like to sell the news on apple event days. >> that's right, they often do. thanks very much. it will be a busy week. >>> coming up, forget the waymoss, the latest driverless cars making serious noise are at the indianapolis motor speedway where we find our brian sullivan. what in the world is going on out there? >> well, the market is not down here, stocks are selling off, kelly. but here in indy it is all autonomous and it's all optimism. how about this? on a friday, market is down after the break, i'm going to show you cars th

following a challenge that does suggest pricing stock -- the stock is up today, but one of the key laggards so far this month, down about 16% from its high. ty and kelly. >> thank you very much. >>> president trump indicating he wants to put a cap on credit card interest rates. eamon javers has the details. >> that's right. we're getting a response from the american bankers association to this new proposal from former president trump last night in which he said he wants to put a cap, as you say, on the interest rates that credit card companies can charge to consumers. here's what the former president said at a rally last night. >> working americans catch up, we're going to put a temporary cap on credit card interest rates. cap it around 10%. we can't let them make 25 and 30%. >> here's the response now from the american bankers association. they say, while we don't know the specific details of this proposal, aba has opposed similar interest rate cap proposals in the past including one from senator bernie sanders and congresswoman alexandria ocasio-cortez during the 2020 campaign because they would result in the loss of credit for the very consumers wh

you take percentages out of an easing when they go up and the price increases you put percentages back up there. as it sits right now, kellyw, i remember in '88 i was there the first day fed fund futures traded and one thing i can tell you, they've given the contract a lot of crystal ball-type characteristics, but really in essence history will dictate that it's best, its really accurate predicting the future, when you are within a couple weeks of a meeting. so what i would say to answer your question, if by about tuesday afternoon we're 60/40 or higher percentage on a 50, i think the fed goes along with the contract so we still have some time to enjoy this fed fund rate drama back to you, tiler >> you were there in '88 you must have been about six years old. rick santelli, thank you, man. >>> whether it's a ban on smartphones in classrooms or a desire to unplug from all our modern deaf devices is having a of a moment, a senior moment maybe. it's leading to the rise of so-called dumb phones. we will get the details next it's time to grow your business. create a website. how? godaddy. coding... nah. but all that writing...

years back to 2022 the last time we saw prices this high for the gold miners etf, so again, april of 2022, more than two-year highs for the gold miners and kellytioned intel. dow component chip giant, one of the best-known giants, and up 22% a share. we do know from the headlines on friday about the possible deal talking between qualcomm and the private equity firm maybe talking about making a multimillion dollar investment and all of that is driving shares and we are down 34% for the year and kelly, i went back to the analysts and to the dotcom era when intel hit its all-time high on a split-adjusted basis, it was close to $75 per share and we currently sit at 22.48. >> before we go to that and look at yet market might be weak, it's hard to say, but there are comments about the israeli army chief talking about the offensive operation they launched this morning and saying we are striking targets and preparing for the next phases. you can say we haven't seen much of of a broad market reaction between what's going on between israel and lebanon, but you do wonder if the markets are doing as the day goes on. >> this follows construct in the recent

we're still waiting for the pricing on the top two phones, the pro and pro max which were just announced so far, kellyyeah, indeed. >> steve, thank you very much. >>> stocks jumping after last week's selloff. let's bring in mike santoli for more on what's happening and why. what's happening, mike? >> it would be very weird if we didn't start to doubt in a profound way. you do have these mixed economic messages. the market has been trying to sort out for some time. it's been a very decisive tilt in the market. it's been going with utilities and staples and health care to a degree as opposed to hiding in the mag nif isn't 7 because they really did surrender under leadership. their premium on their growth rates is diminishing to the average stock. there you are. i think the first week of september did seem to pull forward this expected seasonal weakness and maybe had a concentrated growth scare nature to it. today, really no news. i feel like we're unclenching a little bit those concerns. maybe a rethink on that jobs number on friday, which pleased nobody in the moment. i think you can come down on the s

prices have dropped. what do you make of that? >> factually. you have other factors, kelly, which are influencing.een stubbornly high and that's one place it's coming from and various things contributing to inflation and what i call this is whack a mole inflation fight. you hit one part of the sector and inflation goes up somewhere else and the reason is there is still enormous amount of fiscal stimulus. the monetary base, the fed's balance sheet was doubled from already bloated levels in 2020 to 2022, and we haven't cut back very much since, so why are you surprised that inflation is still remaining high. there's a lot of liquidity and people have to spend it, and you see that in wage costs. the wage costs accelerated month on month as well as year on year. you see initial jobless claims are down for the third week in a row. unemployment rate is down. how can the fed pretend that the economy is weakening and inflation is coming down when you have so many of these danger signals, so i don't think the fed is data dependent, kelly. i think they make the data say whatever they want the data to say. >

the consumer price index for august shows .6% increase over the previous month. as you said, kelly.5% otver the previous year. they're playing catch up to the spike they saw in 2022 and 2023 in the costs to repair and replace vehicles as well as what it costs to fix someone who gets hurt. property insurance, similar story. moody shows 16% increase in property insurance in some markets over the past few years. where normally it increases 2 or 3%, it's especially troubling moody, says in consumer real estate, where cost and availability is killing deals. i saw that firsthand. you saw it triple in price for a texas multifamily property. he says, hey, that killed my profit margins. march is showing property insurance moderating. just 2% increase in the second quarter. it also reports that casualty insurance rates increased 7% if you exclude worker's compensation. and then umbrella or excess liability risk, those rates increased for companies 10%. some lines, though, are seeing declining premiums. 83% of companies have seen a reduction in what they pay for directors and officers insuran

priced in for rate cuts? >> okay. some fresh quotes right here. surprising to me, by the way, kelly.hought you might get a little more movement, but it's 54% for a 25 -- for a 50, and 46% for a 25. so leaning a little bit more towards a 50. you were at 51% going into the meeting. remember, it's been as high as 65%, but we got some better than expected data. you also had these revisions to income and spending that are generally higher over the past several months and selveral years. and also an upward revision we talked about yesterday to the savings rate. all of that helping to suggest that maybe the economy is a touch stronger than previously believed. maybe the weakness that we might get is from a somewhat higher level. not a big move by the market when it comes to the outlook for the fed here. just a 54% chance of a 50. >> to that point, as the data has been resilient, nancy just upped her fourth quarter gdp estimate from a minus one or two to a positive. i don't want to say people are throwing in the towel, julia, but this confounds many of the bears. if we go through this quarte

prices. >> visit artificial turf express . >> hey bay area live with kelly and marcos coming up, we'll chating to have another day of summer sizzle here in the bay area with high temperatures well into the 100 105 livermore, 106 in concord up in the north bay, mid 90s to about 100. same range down in the south bay and low 90s around the bay shoreline. here's a look at the accuweather seven day forecast. as you can see, this triple digit heat is going to continue through friday. a nice cooldown is coming over the weekend. >> kumasi. >> thank you spencer. we'll have another abc seven news update in about 30 minutes. you can always find the latest on our news app and at abc seven news.com. the news continues now with good morning america. >> announcer: welcome back to gma live from times square. [ applause ] >> michael: welcome back, everybody. we are joined by some of the big names who are headed to "dancing with the stars" ballroom. we have an incredible, incredible cast. welcome again, everybody. [ applause ] oak. >> thank you! >> michael: by a show of hands, because you've already started

price earlier today, it dropped more than 3 percent. so markets also reacting to this news and the timing couldn't be worse for the company. they have an u. c. o, his name is kelly ort berg and he is trying to turn things around. so he's trying to re gain the confidence of a customers to plan come for. so airlines, of course, suppliers, and also the public, the general public. and for airlines who forwarded planes from bullying, it would mean delays, which means that they have to fly older planes for longer. and that will, of course, drive up their costs and they will lose money so they won't be happy about this. suppliers will lose money in part because of course boeing won't be hitting its production levels. meaning won't be for doing as many parts of that could. and so they all know happy, and then of course the public will be watching all of this and thinking what the hell is wrong with boeing, another crisis, why come they get their house in order? we'll leave that question kindly give me what the hell is wrong. with boeing, have to get it stuck on the bumper, stick out your phones, that your brother from dw business. thank us. as a whole world news of the

kelly, you are looking at the movers of the markets. z scaler is moving down. liz: it is down close to 70%. this is a cloud security company. the reason, they lowered their pricetarget from 210-one hundred 95. they kept to the outperform rating on those shares. the company beat on key metrics in queue 4. analysts call this unusual seasonality. stock is down. stuart: is down a lot. sweet green. they get an upgrade? lauren: they did. there price target is hyped from 30 one which is where it is now to $43. the stock is up 7%. they bumped the trend of fast food restaurants, they keep people pouring in with these items. stuart: that is another story entirely. asm l. lauren: downgraded from buying to neutral. this one is going to stand out in the european technology sector. it is slower eps growth and ai revenue growth won't be enough to offset what they see as moderate growth, stock is close to 3%. stuart: the ceo of u.s. steel has issued a warning about its planned sale. what he saying about this? lauren: we will likely have to close a bunch of plants and move headquarters out of pittsburgh, the reason being they pledged to invest $3 billion in older mills and wha

price of prescription drugs. child care. donald trump wants to double down on big tax cuts for the wealthiest americans and drag us back into the past. >> senator mark kellytrip you are taking with the vice president on friday. thank you for spending a little time with me tonight. i appreciate you. >>> if you are just joining us, the breaking news is nbc news can report new york city mayor eric adams is pecksicked to face federal charges from prosecutors out of the southern district of new york city. he could face the charges as soon as tomorrow according to two sources familiar with the matter. nbc has reached out to spokes people for the fbi and the u.s. attorney's office. all of whom defined to comment. we will of course continue to cover this story after the break. stay with us. with us. ♪♪ citi's industry leading global payments solutions help their clients move money around the world seamlessly in over 180 countries... and help a partner like the world food programme as they provide more than food to people in need. together, citi and the world food programme empower families across the globe. ♪♪ sleep more deeply and wake up rejuvenated. purple mat

price. so we'll see what they can come up with. for now, these stocks are neutral. peter, thank you for your time today and explaining the story. >> thank you, kelly> coming up, we'll get another pulsz pulse check on the consumer. that's next. and with interest rates still above -- mortgage rates i should say above 6%, more are turning to assumable mortgages to help offset record high home prices. later, we'll look at who's taking advantage of it and why housing affordability is the biggest issues in the upcoming election. and this is another check on stocks with the nasdaq at session lows, down 2.6%. the russell 2,000 small caps are also down nearly 3% today. the dow and the s&p is down 1% to 1.5%. back after this. >> this is "the exchange" on cnbc. pete g. writes, “my tween wants a new phone. how do i not break the bank?" we gotcha, pete. xfinity mobile was designed to save you money and gives you access to wifi speeds up to a gig. so you get high speeds for low prices. better than getting low speeds for high prices. right, bruce? jealous? yeah, look at that. honestly, someone get a helmet on this guy. get a free unlimited line for a year when y

price, government's the seller. i gave it a d as in dog. none of the metrics are very good. the tailing of two basis points is not good. as kellynted out, it's not the favorite on the street. but as an investment, if we're really going to see a cycle of easing, and it seeming as though we are, because kelly, i completely agree with you, anybody that was beamed from another planet, looking at retail sales, looking at all the inflation numbers the last year, will be scratching their head. our guest said if it's a quarter, they're dovish. if it's 50, they will be -- if it's 50, it will be dovish, if it's 25, it will be hawkish. if they do anything, i think they're crazy. there's no reason to lower rates now. we need to shake things out. the equity markets are making new highs. the problem is, that doesn't matter what the data is. the market is the fed. i don't think that's a good way to proceed, but that's the way it is. >> the one area where i think lowering the rate 25 or 50 could have a big impact in the margin is hiring. if job hiring is slowing and layoffs are starting, they're not terrible, but -- >> do you really think a qu

price of prescription drugs, child care. donald trump, he just wants to double down on big tax cuts for the wealthiest americans, drag us back into the past. >> senator mark kelly, we're going to be looking at that trip you're take wg the vice president on friday. thank you for spending a little time with me tonight. appreciate you. >> thank you, alex. >> if you're just joining us, the breaking news tonight is that nbc news can report new york city mayor eric adams is expected to face federal charges from prosecutors out of the southern district of new york. he could face those charges as soon as tomorrow, according to two sources familiar with the matter. nbc has reached out to spokespeople for the fbi and the u.s. attorney's office, all of whom declined to comment when asked this evening. we will, of course, continue to cover this story after the break. stay with us. cover this story after the break. stay with us have you ever considered getting a walk-in tub? well, look no further! safe step's best offer, just got better! now, when you purchase your brand new safe step walk-in tub, you'll receive a free shower package. yes, a free shower package! and if you

kelly, is now getting closer to $64,000. and, i mean, some of this has to do with the fact that when people see the bad actors are held can accountable, the price up because they think it's a little bit more stable. thank you for that report. interrupt us if anything happens. >> reporter: are co-- will do. liz: former president trump back on the cam campaign trail at this hour talking corporate tax cuts in georgia and his quest for a second term which remains neck and neck with vice president kamala harris. and college athletes like colorado quarterback she door sanders and lsu gymnast livvy dunne cashing in on the ncaa's name, imlanguage and -- image and likeness rules, but is big money corrupting college sports? we'll talk about all of it with coastal california chairman emeritus of athletics moglia. we'll also talk about, oh, yes, the financial industry. it's a fox business exclusive. "claman countdown" returns in just a minute. ♪ther ♪ r workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing. so you can feel confident in your financial choices voya, well planned, well invested, wel

he's got we got arms their five kelly how do you sleep at night on a mattress from mattress firm so i sleep it's the best sale of a year. get a king or a queen price, save up to $700, and get a free adjustable base get matched at mattress firm, sleep at night you know, priceline homes, families, save up to 60% on family-friendly hotels. >> so many great trips, we might just leave here with another vacation baby i'll take it easy. >> paris and u2 for motor down, please. >> wasn't toledo gurney are happy priceline america with mortgage rates going down and listings already up 36% on realtor.com. >> the time to buy and sell is now do not wait. be ready before the bidding war started go where the pros go realtor.com so why don't you ask a good sister and get me some more of those baby back ribs, be directed at china sea where you go get you gut. drama maybe i'll just go get wings for everybody. >> we know how to turn something that needs x-ing into something fabulous. >> we're excited to share some fabulous new designs that we created for your next remodel. see them now at rebuffed rebuffed.com just take a look at here. >> guys were like everything do

prices. you got terrible china demand, too much oil coming out of iraq, two big reasons why crude getting crushed. we're just over like a couple of cents over 70 bucks a barrel. despite, kellyobal risk ratcheting up all over the place. >> we were just at 80. you blink a moment ago, almost up there. >> i know somebody that knows something about oil as well and he's here. >> it's a good day to have you here. >>> also, check out shares of nvidia, which are down 8.5% right now to about 1.09. and a big reason for the nasdaq's decline. normally on big market days like today we bring on analysts, asset managers to talk about what individual investors should do now. today, we'll ask individually who we introduced you to mina, she invested 10 grand into nvidia in 2011. held it through all the ups and downs. it's worth $3.5 million. not to give away too much, it's worth $3.5 million today. we know many of you have similar stories with nvidia, stocks. instrumental on the huge market rally we have seen the past couple years. welcome. >> thank you. >> congratulations, by the way. >> thank you so much. >> can we have some money? >> yes. >> can we pass the hat around. >> we like to talk t

pricing power they'll have. thank you for bringing that to us. >>> now to steve covak in this morning city, as the apple iphone 16 goes on sale. steve, what are you seeing? >> reporter: yeah, kellywanted to point this one out, because i've been covering this launch event for three years. the lines have dwindled quite a bit. this time last year, the line was around the corner. we have an overflow one that goes around the corner of the apple store, down 58th street. that line hasn't been full since 10:30 a.m. or so. you're now looking at a live shot where the name line is that snakes around the plaza, and they let people in. you know, a group at a time. i don't know, maybe a third full. don't really know how to read into this. it could be more people are buying online or from their carriers, but it comes at a time where there's a lot of concern over what iphone 16 behand looks like and what the kind of artificial intelligence demand, what kind of demand ai can drive, as well. but we do know that it's not launching until next month and the subsequent months and into next year. so still plenty of people here buying, getting in line. they're waiting to buy the new iphone. but compare

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this is not like kelly orper got here and said the contract is expiring he knew coming in and said it's going to be a hefty priceo ultimately get this resolved he's motivated to get this resolved he doesn't want this to go on. that said, the union is very adamant it wants at least 35%, all of them saying 40% as i mentioned earlier i'm not sure, my sense i'm not sure they get to 40% 25% that's not cutting it for the rank and file. >> meanwhile, phil, as far as orders and market share go, as far as the regulatory concerns the last couple years, a lot wriptsen on how air bus has not been able to leverage that does this change that? >> they are in the lead. if you go back and we've done the calculations and had a consulting firm that tracks the aviation industry, the airlines, they ran the numbers for us, and air bus now is the market lead ter in narrow bodies they used to not be the market leader the last several years between the stopped production because of the 737 max crashes, the quality issues, and look, production is limited right now. the faa will not let boeing build more than 38 737 maxes once production