however, futures are pointing to a lower open >>> and ken griffin told cnbc at the alpha conference >hurricane ian through florida. a live report from the region ahead. it is thursday, september 29th, 2022 you are watch wing "worldwide exchange" here on cnbc >> welcome back. i'm frank holland in for brian sullivan it is 5:30 a.m. on the east coast. here is how stock futures are looking. red across the board dow could open up 200 points lower at the open. the s&p and nasdaq around 1% lower at this time let's get to the top stories bertha coombs is back with those. >> good morning, frank so amazon is raising pay for hourly workers again as the company prepares for the holiday shopping season and a second prime day event next month in october. amazon will increase average starting pay for frontline warehouse workers up to $19 an hour many earn between $16 and $26 depending the their location amazon raised pay a year ago to $18 an average an hour amazon is spending $1 billion on the pay hikes over the next year. >>> several major advertisers including mazda, forbes or pbs kids have remove

you heard what ken griffin at citadel said and we may have a hard landing at 2023. major companies are cutting back. pepsi co is the latest company that we understand is cutting back. again, not layoffs but what sources there are telling us is that they're looking at buyouts, essentially buyouts for anybody over 55 years of age. liz: really? >> i believe it's like a one year salary, get your pension, blah blah blah but you're out the door and can cut costs. it's inside the place, the word is that this is the first step to layoffs if the recession does kick in in a way that people like ken griffin believe, a hard landing as opposed to something soft. right now it's kind of interesting, we're probably going to have three quarters of gdp, negative gdp growth, probably. we're still probably going to have decent employment but one thing, the fed will raise rates at least once, probably twice. there's a lag between the fed rate increases and how that impacks the economy and that's why you hear people like you name it, ray dalio, ken griffin go down the line and they belie

. >> well, we've heard people say that including ken griffin yesterday at delivering alpha. we just saw one of your headlines saying we're only halfway through this reset does that imply you think stocks have a lot lower to go before the reset is complete or not >> we're still of the belief we've got it if you're thinking 12 months, if you have at least a 12-month hat on right now, we're still of the belief your down side risk to up side is relatively equal is the path of least resistance down still, it appears that way. it's very difficult to a bell and says if the fed literally says we're going to wait and see because inflation is coming down at the turn of the year, two year yields pick out, and therefore it's tough to know and we think there's risk to the ten month down side. we're looking for opportunities come to turn of the year early first quarter to begin to think about that next business cycle >> steve weiss sitting in front of me thinks earnings are going to be $200 the estimates are a lot higher than that right now. but does that sound too dire to you, about righ

look at ken griffin and the city of chicago. and his company's tax money has fled including boeing as well. on to patagonia. big company. "l. a. times" saying he is giving it away to save the climate. cnbc gave away his company to fight climate change. earth is our only shareholder. the real king, he gives away company to fight climate crisis. many are wondering what's really going on here, kat? >> when you see a headline like this you know there is always something more. he will be able to avoid paying a lot of taxes by doing it this way. he is still going to be able to have huge influence over u.s. politics by doing it this way. control the company by doing it this way. nobody ever just gives away all their money for no reason. >> bill: he found a loophole. >> that's exactly right. >> bill: saving his family over $700 million at minimum. >> people aren't digging deeper. so many headlines are saying look at this wonderful man who loves the earth so much he will be poor now. that's not what is going on. >> bill: i didn't know it

i've got to work over mine for ken griffin and i'll see you there. >>> coming up energy is one of thest sectors this move. stephanie link making a move as she said in that space >>> don't miss the premier of a brand new season of "american greed" tonight on cnbc at 10:00 p.m. eastern "halftime" is back after this. ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. >>> all right. we are back. oil hovering near break-even for 2022 only up 4% with today's gains. cnbc's delivering alpha survey, it's back, as i've been mention throughout the program where will oil finish in '22 74% say between 80 and 100 23 say under 80. that's like the line in the sand, right, that we made is 80. the three sectors will be the biggest winners over the next year health care, one,

she's lost boeing, lost caterpillar, like the largest hedge fund on the planet, citadel, and ken griffin, major, major -- >> 2 billion in revenue mcdonald's as a headquarters provides in chicago. over time that money is going to walk. new york city was named the wealthiest city in america. over time that changes. >> sandra: big mac, what -- >> i love nuggets, i'm more of a whopper guy from burger king, chipotle, have you been to a waffle house lately? >> sandra: no. >> john: new at 2:00, schools across the country are running low on teachers. now hundreds of districts have found a creative work around. does turning to a four-day school week cause more problems than it solves? brian kilmeade ahead on that. stay with us. dry skin is sensitive skin, too. and it's natural. treat it that way with aveeno® daily moisture. formulated with nourishing, prebiotic oat. it's clinically proven to moisturize dry skin for 24 hours. aveeno® [ coughing/sneezing ] [ door knocking ] dude, you coming? because the only thing dripping should be your style! plop plop fizz fizz, winter warriors with alka-seltzer

back in-person, too september 28th, it's in new york city i'm going to be interviewing siddle's ken griffinhat you can join us and everybody else is going to be there, too let's get the headlines. >> here's our cnbc news update at this hour a trial is finally being set for the man accused of killing 11 worshippers in the deadliest attack on jewish people in u.s. history nearly four years ago. robert bauers faces more than 60 federal charges at the aat the tree of life synagogue in pits grg. the trial is set to begin as he's pleading not guilty but could be sentenced to death if convicted. >>> a federal class action lawsuit being filed on behalf of citizens of jackson, mississippi, considering the recent water failure in the city what the plaintiff describes as the ruination of the public water system in jackson. this comes just days after the state restored clean drinking water to local residents >>> despite president biden's comments at the pandemic is over, many disease experts predict covid will remain leading cause of death in america for the foreseeable future covid was the third leadi

ken griffin told that same organization that he was worried about crime in the city of chicago aboutl, we know how that story ended. he packed up citadel and moved to south florida. >> neil: just incredible. grady, thank you. i want to go to my friend, gianno caldwell. this comment about the ceo should educate himself, he doesn't have to educate himself. he can look out his written dough and see for himself. people are getting mugged and shot on the street. yet a close worker that was mugged just outside his building. so this educate yourself, what is that about? >> well, the major has taken a page out of joe biden's playbook. if you don't like the facts, just gas light the people. that just won't work in this situation. we just came off of a weekend of violence, 63 people shot including two 16-year-old boys and a 3-year-old girl. this is outrageous. the ceo of mcdonald's, the ceo of citadel and many others recognize what's going on in the city of chicago. if you look at the numbers, from january 2016 to december 31, 2020, we saw over 3,200 people killed. this is unlivable. if people

and we'll have highlights from my conversation with citadel's ken griffin. and we'll br bring you some of the highlights from what he has to say as well. >> let's stick with lowe's one of the things you're going to see is a lot of demand, unfortunately, over the next couple of weeks, just with the hurricane. and where earnings have been a little bit zpred, you'll have that back. it will kind of help the stock >> you even think if obviously home prices are coming down, mortgage rates are going up. a lot of people did the work on their houses during the pandemic you still think there's a cycle to go with that? >> you always have continual cycles to do in terms of repair maintenance of the houses as well and i think as materials, and we've seen lumber come down, we've seen copper, all the other prices come down those people who haven't done anything in the last three years, six months, will do that going forward. >> stephanie link? >> act censure, they just had a great quarter. they generated $3.6 billion in free cash flow this is number one in the industry, do

. >> the mcdonald's ceo made his comments at the economic of chicago luncheon and ken griffin told then a year ago that he was worried about crime in the city. we know how that story ends, neil, he packed up citadel and moved it to south florida. neil: and bought a $600 million home in the process. and thank you very much. and i tell you, when i heard the mayor say that he has to educate himself, referring to the ceo, he can look out his window. a couple of his top executives were held at gun point not too far from where the mayor was. so, i'm just wondering, does she appreciate the magnitude of this? >> absolutely, she does not appreciate the magnitude of it. let's even take you back just some months ago, there was an infant who was murdered in the back seat of a car while they were in the drive-thru of an mcdonald's, she must have forgot about that. let me make it clear, lori lightfoot does not care about black lives. black lives do not matter to mayor lightfoot and black belts do. and the media has been talking about the violence in chicago so long, never have we seen businesses, ma

you can look at what citadel did and ken griffin said he was having a hard time retaining top talent,lent, and boeing and other companies have said the same, at least. >> john: good on mcdonald's for not leaving in the face of the rising crime. see if they can tough it out. citadel could not do it, they went to florida. boeing left the city, so a lot of people are turning tail and running. >> sandra: and mcdonald's is having a hard time with staff in the restaurants. that does it for us. a jam-packed two hours. great to be with us. sandra smith. >> john: good to be with you, too. i'm john roberts. see you on friday. "the >> martha: thanks, john and sandra. good afternoon. i'm martha maccallum live in london. greg abbott well continuing his fellow governors to join him in transporting my grants in to america's sanctuary cities where they said they would be welcomed. governor ron desantis has flown planes to martha's vineyard as abbott sends bus loads to th

have a panel focused on short selling as well with carson block and jim chanos and one-on-one with ken griffinks away, we'll get a sense of the political climate with the deputy treasury secretary wally adeyemo and with virginia governor glenn youngkin. tickets are still available for purchase at deliveringalpha.com. that event taking place tomorrow morgan >> leslie picker, thank you. >>> as we head to break, check out bitcoin. higher by about 5% this morning. closing in on 10% gains for the week back above 20,000. >>> in other crypto news, ftx continuing its buying streak, winning an auction for bankrupt crypto broker voyager digital. other names like coinbase are moving higher as well. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq . >>> welcome back to "squawk on the street." i'm bertha coombs and here's your cnbc news update at this hour hurricane ia

. >>> yesterday at cnbc's delivery alpha conference ken griffin talked about how people can best position amid this volatility >> the 60/40 portfolio looks better today than at any time. >> why so? >> ten-year bonds at 4%. when ten-year bonds are at 75 basis points or 1%, there's no real upside to the bond in a moment of recession that's often characterized with inflation now with the ten-year bond at 4%, if you go into a downturn, and inflation heads back towards a one handle, all of a sudden those bonds are worth a fair amount more than they were today. that's a win in your portfolio in the green when your equity is likely to be in the red. >> let's bring in citi equity strategist scott and tracy mcmillan scott, i'd love to get you to bounce off the griffin's thoughts and talk about if not bonds, at least how equities tend to behavior in a year following inflation peaking. >> i think that's a really good question typically inflation peaking comes with the other side of economic traction, if you will so, typically it's the fed response to peaking inflation that leads to a more onerous ou

ken griffin and city dell, ken is one of the sharpest guys on the planet announcing, you know, his new so you're seeing this massive move where institutions are building infrastructure or investing in the space that's not directly buying bitcoin and thethereum yet, but it's laying the foundation for an inevitability. >> is it true -- i mean work you ever think about hedging your crypto at this point in the same way you're hedging the market i think short equities, i could argue to you, at least short term, and maybe -- i could argue short term is going to be tough for equities that might be a good short right now. long term, you would like to be optimistic about equities over the next decade i would think in the same way you might want to be long term about crypto? >> we certainly, you know, move our positions up or down based on how we think the market is going to do. that said, we keep kind of a core long. we're a public company that has a crypto mandate so -- >> it's hard for you to answer - >> i wish i sold - >> the mandate - >> yes. >> if you didn't have the mandate how would you

i'll sit down with dan ivascyn we'll have a panel focused on short selling and a one-on-one with ken griffinms over a month away, we get the climate with the deputy secretary wally adeyemo. tickets are still available for purchase at deliveringalpha.com. >> leslie, it will be an amazing day. we will get a snapshot across the country and how investors are thinking especially given the federal reserve and other central banks. what is the one thing you are looking forward to >> reporter: andrew, this is cheesy to say. this is the first time back in person in three years. i'm looking forward to the conversations that take place in the room you know this better than anybody. so often with the conferences f y , if you have a digital model, you get the side conversations and see who is talking to whom and during times like these, it is important because you really have so much uncertainty out there. so many questions. when you have people who have such diverse experiences and thought in the same room together, that can be really bene beneficial >> leslie picker rubbing elbows with the big guys tomo

little bit like ken griffin if you think of all of the component parts of the exchange market >> i likecoconut grove. have you seen his house? >> i have not. >> $104 million. beautiful. i like bankman hey, bankman >> appropriately named >> you remember we have eugene profi profitt come on. good name for the business phil dow he would talk about the dow. i like bankman tell me off camera we have been sharing too much lately >>> stocks looking to add to the gains yesterday despite headwinds. guggenheim partner scott minerd joined closing bell yesterday to discuss the continuing grim market outlook >> thinking between 3,000 and broadly say 3,000 and 3,400 we'll figure out the bottom when we get ther there. at that point, we'll figure out the bottom it will be supportive for risk assets and the seasonals turn around you know, seasonals turn positive november through march. actually through june. the old adage of buy in may -- you know, sell in may, go away, come again at labor day. >> joining us now is lisa erikson. lisa, you are not so bullish with that in mind, you have a buy away from u.