kroger says they will lower costs. ftc is saying they are not necessarily doing that, they are combining forces and don't have much competion so why would they want to lower prices and kroger now says they have to be able to compete with walmart cosco so the only way to do that is by coming together, having more leverage over suppliers, having more efficient production, supplyhain, all of that. lisa: some are asking about the workers, it could often mean cutting jobs. one grocery store worker is thinking about a former merger she participated in when she was with albertsons. >> one minute you have job security you have had for 24 years and now you need to pick it to what am i going to do next and how am i going to make money and support my family and pay rent. initially when i started in the industry there were multiple grocery store all in southern california. now there are only two companies. lisa: union representing grocery store workers is opposing the merger. how do the companies respond when workers say they are

kroger says we will go national and buy our competitor albertson which is the safeway brand and geto 4,500 and be at the same level with walmart the difference here is they do not have anywhere near the ecommerce capabilities of walmart. that's the story here. what defines grocery and what defines, you know, concentration and then you have another wrinkle, dominic, which is all the democratic attorney generals oppose the merger and republican attorney generals support it it goes beyond the ftc and partisan divide as well. >> a lot of currents in the kroger story john blank, talk to you soon. >> you bet. >>> a market flash on general mills. reportedly in advanced talks to sell the yogurt business including the yoplait brand. headlines coming across right now. general mills shares down .25% >>> coming up on the show, ahead of the big fed rate decision, another central bank is expected to cut rates for just the second time in the last five years. so what that could mean for one batch of stocks on a red-hot run? we're going across europe to talk rates back in a moment when it comes to a

kroger ceo rodney mcmullen that we merge is the day that we will begin lowering prices," vowing that combined company would invest $1 billion to lower prices if the merger goes through. the federal trade commission has sued to halt this merger, alleging it would raise prices by reducing competition in some areas of the country. is that an accurate argument? >> i'm not convinced of that argument. so if they are somehow able to combine their stores, some of those cost savings through their wholesale prices could be passed onto consumers. >> reporter: the two chains combined operate about 5,000 stores. currently, walmart dominates the grocery market by dollars spent. as shoppers have faced stubborn inflation since the pandemic. since 2019, according to the cbs "money watch" price tracker, a dozen eggs more than doubled. bread jumped 54%, and chicken 33%. but wages have also risen 23%, keeping pace with overall prices. >> but that is not how a lot of consumers think. they just see that grocery bill at the end, and they are like, oh, my gosh, this is so expensive. and they are right. >> r

and they are right. >> reporter: now earlier this hearing, a kroger senior director did admit that thecery giant had raised prices for eggs and milk beyond inflation levels for a period of time, but since then, the ceo of kroger has insisted that prices would come down if the chains merge. norah? >> norah: everyone watching that very closely. jo ling kent, thank you so much. "america decides" the issues the economic plans for vice president kamala harris hopes to win over small business owners. that's next. that's next. ask your doctor about farxiga today. farxiga can cause serious side effects, including ketoacidosis that may be fatal, dehydration, urinary tract or genital yeast infections, and low blood sugar. a rare, life-threatening bacterial infection in the skin of the perineum could occur. stop taking farxiga and call your doctor right away if you have symptoms of this infection, an allergic reaction, or ketoacidosis. ♪ far-xi-ga ♪ will will >> norah: now to "america decides" and a topic voters consistently say is one of their top issues: the economy. vice president kamala harri

now two of the biggest grocery store chains, kroger and albertsons are trying to merge.suit to stop it. jo ling kent reports. >> reporter: kroger's ceo testifying that a merger with its rival albertsons would help their stores compete with the bigger competitors like walmart and eventually amazon. whether this will actually lead to better products and prices is the central question here for shoppers, and the two ceos are vowing it will. >> prices are high. >> reporter: at a time when grocery prices are top of mind -- >> things that you used to buy like eggs has just gotten really expensive. >> reporter: they're also at the center of a major lawsuit filed by the federal trade commission. the ceos of kroger and albertsons say if combined, they can better compete with giants like walmart, costco and amazon. >> for customers, it's about offering lower prices and more choices. >> reporter: but the ftc warns the merger would give consumers fewer choices. >> the ftc is alleging that if kroger and albertsons come together, it would be bad for the consumer and raise grocery price

how they do this, kroger says they cut prices, think walmart, kroger is benefiting from the fact that people are eating at home more. the cost to eat out is so high. kroger is battling with the ftc over its proposed $20 billion takeover of albert's son, stopping the merger, it will lead to higher food prices but we heard from kroger's ceo, insisting the merger will bring lower food prices and we see the company overall reinforcing their commitment to lower food prices. back to you. neil: everything was perfect when reporting charlie as a esteemed a colleague. i hear you. >> is brilliant, astronaut and brilliant neil cavuto. neil: great seeing you again. the ameritrade ceo, very confident in the economy, never plays politics. are you still of the view that the data, mixed though it is is comforting for continuing soft landing. >> the next step to the fed, step up and take more of a leadership role. the market has been on that all year long. going to 5.4 it doesn't make a difference. it makes a little more of an impact, they are not going to have the meeting in october. seeing where the

during trial they cited evidence that kroger inflated prices on eggs and milk, higher than necessary, company argued that example was cherry picked and has vowed to out cut prices by $1 billion on day one if the merger goes through. at the heart of the case is if question of competition and access. recent grocery mergers led to less options in low income areas, that's squeezing a cons her that's already struggling but on the flip side these chains are up against the likes of walmart and amazon. scale is how they're looking to compete rather than technology. now, to make things more interesting, all this is playing out with the election and vp kamala harris's promise she will crack down on what she calls grocery store price gouging. the reality is, these operations have got margins wean 1 to 2% at best but the looming threat hangs over the trial so if the deal doesn't get done, kroger could need to change strategy quickly in an environment where scrutiny on the industry and the powers of the ftc ramps up, definitely something to watch. cheryl: look, mark, kelly makes the point of this

kelly, kroger reported this morning their earnings. did they have anything to say about the trial?rter: they did, actually. the ceo said shared this take. quote: the food industry has always been competitive and will continue to be after this merger. we are committed to closing this merger because bringing kroger and albertson's together will provide meaningful and measurable benefits, lower prices, secure jobs and expanded accesses to fresh -- fresh, affordable food. the ftcs has a argued throughout this trial that the $25 billion merger would lead to less variety and higher prices. they even cited evidence during the trial that a kroger hiked prices on eggs and mil more than necessary to cover costs -- and milk. the company argued that example was cherry picked and has since vowed to cut prices by $1 billion on day one if this deal goes through. at the heart of the case is the question of competition and access. recent grocery mergers have led to the less options in low income areas, squeezing that consumer that's already struggling. but on the flipside, these chains are up exist

>> kroger and albertson's making a final pitch for getting together.to approve kroger's purchase of albertson's or block it. > d the ceo of alaska airlines will join us live on "squawk on the street." (man 2) what's my next step? oh! ugh. (girl) dad. (vo) y (vo) trade in any phone, in any condition at verizon for the new google pixel 9 with gemini. (man 2) give me a recipe with these ingredients. (girl) let's do that one. (vo) only on verizon. >>> weekly mortgage demand surging 14% as interest rates hit a two-year low. housing, housing related stocks posting nice gains this year. and a new intraday high. is there more room to run? jeffrey chang joins us now. you talk about the names we don't cover, eagle materials, champion homes what's the risk/reward set up for these names given the boost we've seen? >> the risk is mortgage rates have come down about 100 basis points already ahead of the rate cut. we need to see rates ideally below the 6% threshold. that's where we see consumers step into it and drive activity. we haven't seen that recovery come thro

i have been going to kroger and there are several times that i have walked into that kroger and it smells like farms. and then i went to go in get springwater, a case of springwater and i ended up not buying it because they had it sitting on pallets that smelled like a newer. -- manure. and now i saw the article where kroger will not bring down prices and less -- unless they merge with albertson's and they are holding the americans hostage to higher costs, i am boycotting kroger. i will drive 20 miles out of my way to go to another grocery store. but i would like to know about that safety of water being on pallets. host: thank you. guest: so, obviously sanitation and hygiene is super important in any food retail facility or food processing facility or food producing. i cannot really comment on the pallets and the water. but, you know any time see something like that and i am not shy. when i go to the grocery store i have seen things that are questionable and i asked for a manager and say hey, i am concerned about this. i often have to tell them i am a food safety expert and they need to d

you might think kroger is distracted as it tries to close on the deal and that's what analysts assumed but it turns out the reverse is true the ceo's magic kept costs down and delivered fantastic numbers while maintaining an expensive unionized labor force in a commodity program. they can regionallize stores and create some of the best store brand products out there, second only to costco food is still expensive but cooking at home is cheaper than going out. it goes double for his most budget conscious clientele and he has one now he points out, quote, budget-conscious customers are buying more at the beginning of the month to stock up on essential items and groceries and as the month progresses they're more cautious with spending, end quote. that's a tough environment when i heard this i thought back to the old kroger, the one that perpetually missed numbers whenever the environment got a little tough everybody else remembers the old kroger, too. maybe that's why the stock was sitting there waiting to be had until the quarters reported and it soared more than 7% in response to the res

a multi-billion dollar merger between kroger and albertsons. federal regulators are trying to block it over fears it will drive grocery prices higher. kroger ceo is now promising the opposite. >> and more entertainment zones could be on the way to san francisco. the new areas that are being proposed now as the city looks to bring the fun back downtown. >> boeing's starliner spacecraft is coming back to earth, but it's leaving behind the two astronauts now we're hearing from the ceo of a top supermarket chain, and he's promising to lower prices if a controversial merger is approved. >> he is amanda kroger ceo rodney mcmullen testified in a hearing that could determine the fate of a proposed merger with his company's rival, albertsons. kroger owns multiple brands, including food for less, which has stores right here in the bay area. albertsons owns pleasanton based safeway. the ftc is trying to temporarily block the $24 billion merger, claiming that it would get rid of competition and also lead to higher food prices. mcmullen told the court that

the kroger-albertsons one is around the political heat of high grocery prices.ed and the ceo of albertsons and rodney said we're going to lower prices as soon as the deal goes through, albertsons prices are higher, a lot of room for us to do that, skepticism around that given some of the past mergers that we've seen in the grocery market space and so we're expecting a decision by the judge, a federal judge in portland, by october 1st. she's a biden appointee and hasn't given any indication of how she's going to rule. this is a preliminary injunction. >> they could. once you get a p.i. it is the end of it. >> wraps it up. >> on tapestry-capri it will be interesting because it seems easy to argue that there are a lot of competitors in fashion. >> it does. >> the ftc is arguing accessible handbag market is two companies. >> they created the market based in part on some of the quotes from the executives themselves that wasn't clear ever existed. accessible luxury. >> lena khan and the ftc point to this case, that is one that is going to be -- >> that is where i draw

kroger ceo rodney mcmullen says albertsons prices are 10% to 12% higher than kroger prices so when theyve costs and bring those prices down. the ftc is alleging that the history of grocery store mergers does not show that at all. it shows higher prices, shows store closures. and then the whole debate about the plan that kroger came up with to divest a bunch of stores that overlap albertsons into cns, another grocery store operator. and there are questions if kroger investors were involved, whether it was just a bunch of lawyers. ultimately, we'll hear by october 1st. the testimony continues today. and it's a hot potato because it's a political issue around grocery prices right now. there's a lot of heat facing this merger. >> usually is. a key week, a lot of expert witnesses. "meyovs"egs teon mer binafr "meyovs"egs teon mer binafr this at least, not the way it could work. your people are buried in busy work. and you might be thinking... can ai make it all work? can ai help your people work... without all the workarounds? feel better. make customer service work the way customers expect?

i have been going to kroger and there are several times that i have walked into that kroger and it smells like farms. and then i went to go in get springwater, a case of springwater and i ended up not buying >> we are leaving here to hear president biden and vice president harris talk about ending gun violence.

i have been going to kroger and there are several times that i have walked into that kroger and it smells like farms. and then i went to go in get springwater, a case of springwater and i ended up not buying >> we are leaving here to hear president biden and vice president harris talk about ending gun violence. live coverage from the rose garden here on c-span. vice president harris: ♪ ♪ ♪♪ ♪ ♪♪ ♪ ♪♪ ♪ >> we are awaiting president biden and vice president harris to discuss surging gun violence. president biden said additional aid in ukraine. the president stating that the u.s. will assist ukraine in the long-term which means securing the european and nato. president and vice president expected shortly here live on c-span. ♪ ♪♪ ♪ ♪ >> we are live here in the white house awaiting remarks from president biden and vice president harris to address the surge in gun violence in the u.s. earlier today, the president met with president zelenskyy. appears the president and vice president are arisk now. >> the president of the united states accompanied by the vice president of the united states. bir

they're staying at kroger, costco, target, other places. like those big guys because even with grocery prices having stabilized and maybe we think maybe coming down a little bit over the next few months, that could mean more spending power for the discretionary side. so walmart, target, costco, they sell a lot of discretionary goods, as well. that's why i think those big guys are well positioned for this environment. >> that's a great point. we'll leave it there for now. appreciate your time. >> thank you very much. >> joe feldman with the telsi group. >>> over to bertha coombs. >> a three-judge appeals court panel in washington today heard more than two hours of oral arguments in a challenge brought by tiktok over the new law that could ban the app in the u.s. if it is not sold by chinese parent company bytedance. according to nbc news reporters in the courtroom, the panel of judges appeared to be sympathetic to the claim from tiktok and creators that the law violates first amendment speech protections. both sides have requested the panel

another kroger executive admitted to gouging prices on select items above inflation levels.said the company raised the cost of milk and eggs beyond what inflation would require for the chain to turn a profit. kumasi. >> thanks, gloria. discount stores across the country are seeing a drop in customers. dollar tree shares collapsed 20% yesterday. the company announced last week it dramatically cut its full year forecast. experts say a weaker job market and inflation are pushing low income customers away, and retailers like target and walmart have been lowering prices on key products. and that's bringing more customers in. dollar tree owns family dollar is struggling as well. so is dollar general. >> the boeing starliner spacecraft is set to return this weekend. nearly three months overdue and without its crew. friday evening, the starliner capsule will undock from the international space station. astronauts butch wilmore and suni williams will be left on the station. the capsule had been stuck since june due to helium leaks and thruster failures. >> today, the boeing team powe

. >>> kroger shares ripping higher after the grocery chain beat expectations before the bell but companystomer visits were up, and that delivery sales were 17% higher than last year >>> and rh shares surging afterhours on a big earnings beat the high end home retailer issuing upbeat guidance into 2024 tim, i know you're familiar with their offerings. >> yeah, i am, and i'm familiar with the stock i own the stock. and i think the idea here is, we know that there's very mixed trends in terms of home furnishings. we know they are certainly at the premium end. we also know that this was about essentially resetting, right sizing expectations. i think they cleared the deck. i think this was really about where people understand to be that inflection on where they're going to start to build again. they've done a decent job of not having to be overly promotional, because that's not what they do. i think the stock is going to continue to be extremely volatile i think this space, and i've been somewhat critical of the wsm play, despite some of the products that they have that seem to be selling off

. >>> news out of cignet, kroger, lilly and more trying to build on yteesrday's reversal "squawk on thetreet" is back in a moment. tax smart investing today, helps to build a stronger tomorrow. at pgim custom harvest, our unique direct indexing approach seeks to help investors achieve better after-tax outcomes. pgim investments. shaping tomorrow, today i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i've got another one. >>> railroad operator norfolk southern ousting alan shaw, out as ceo he's been replaced by cfo mark george investigation determined shaw violated company policies by engaging in a consensual relationship with the company's chief legal officer. jim, shares down about 1% premarket. >> they put in someone who is a non-operator at norfolk southern they didn't know this was co

. >>> and ftc chair lina khan warning that a kr kroger-albertson's merger could increase grocery costs>>> let's begin with the markets after a week which saw record highs for stocks, actually turning into a not-bad september. we talked a lot about seasonal weakness coming into the month, but right now, it is the best september since 2019. >> i guess not all septembers include a double jumbo-sized rate cut, which off to the races, especially if you compare that with the soft landing, and that is the outlook and what has propelled stocks. so, here's a good stat that i read over the weekend from bank of america. on the day after the fed cut, when equity markets were ripping, basically, equity trading flows saw the largest long only inflows into u.s. equities in one and a half years and it was led by tech and consumer discretionary. one of the debates that's forming is big tech or the rest of the market value, because valuations still look appealing, and if we do get this sort of best-of scenario for the market, where you get rate cuts on top of an economy that doesn't go into recession, i

i have been going to kroger and there are several times that i have walked into that kroger and it smellsi went to go in get springwater, a case of springwater and i ended up not buying it because they had it sitting on pallets that smelled like a newer. -- manure. and now i saw the article where kroger will not bring down prices and less -- unless they merge with albertson's and they are holding the americans hostage to higher costs, i am boycotting kroger. i will drive 20 miles out of my way to go to another grocery store. but i would like to know about that safety of water being on pallets. host: thank you. guest: so, obviously sanitation and hygiene is super important in any food retail facility or food processing facility or food producing. i cannot really comment on the pallets and the water. but, you know any time see something like that and i am not shy. when i go to the grocery store i have seen things that are questionable and i asked for a manager and say hey, i am concerned about this. i often have to tell them i am a food safety expert and they need to do some retraining. but

i have been going to kroger and there are several times that i have walked into that kroger and it smellsn i went to go in get springwater, a case of springwater and i ended up not buying it because they had it sitting on pallets that smelled like a newer. -- manure. and now i saw the article where kroger will not bring down prices and less -- unless they merge with albertson's and they are holding the americans hostage to higher costs, i am boycotting kroger. i will drive 20 miles out of my way to go to another grocery store. but i would like to know about that safety of water being on pallets. host: thank you. guest: so, obviously sanitation and hygiene is super important in any food retail facility or food processing facility or food producing. i cannot really comment on the pallets and the water. but, you know any time see something like that and i am not shy. when i go to the grocery store i have seen things that are questionable and i asked for a manager and say hey, i am concerned about this. i often have to tell them i am a food safety expert and they need to do some retraining. b

in that case, we have had sworn testimony from the ceo and other executives, pricing advisers at kroger have basically said they have been pricing above competitive levels for a while now and in particular, on milk and eggs. i think again, vice president harris, her approach has really been vindicated, taking on profiteering and anticompetitive practices including grocery would make a lot of sense. she also talked about price gouging and you know, 40 states have price gouging laws on the books. these are pretty kind of plain- vanilla common laws that really go after people who exploit crises -- hurricanes, natural disasters, pandemics, other economic disruptions to run up the score and drag -- drive prices during a period of shortages so i think it is a commonsense proposal harris is putting forward to use the same toolkit at the federal level and i think it would be a nice tool to have on the books going forward. >> our goal every night is to help our audience get better and smarter and tonight, you are the guest to help us do just that. great to have you on. >>> when we return, donald

history plays out in court, the ftc is trying to block the proposed $24 billion merger between krogerlbertsons, claiming it would eliminate competition and lead to higher prices. >> but executives told the court that the merger would allow for lower prices to better compete with companies like walmart and costco. aldi is also adding to the competition. the discount grocery chain says it's adding 13,000 workers while boosting its average hourly rate to $23. overall, food prices are up only about 2% in the last year, but they are up more than 20% since the pandemic. >> prince william giving us an update here, saying his wife catherine has a long way to go in her cancer treatment. his first public comments on the princess of wales's health came just a day after she released a video revealing that she had completed chemotherapy. the prince called the end of her treatment good news. >> represents mesothelioma victims and their families. do you have questions about paying medical bills, getting the best medical treatment, finding a specialist, or getting the compensation you deserve? if so,

at a recent trial, a senior kroger executive actually admitted the chain raise prices on stable items eggs beyond what inflation justify. a practice that is typically known as price gouging. democratic nominee kamala harris pledged to tackle corporate price gouging within the first 100 days in office including enacting a federal ban on the practice to be enforced with financial penalties. with more on this, i am joined by robert chopra, director of the consumer financial protection bureau. welcome. i have some questions. what is the distinction between price fixing on one hand and price gouging on the other, but it's been a long time since i took econ 201. what is the difference? >> when you walk down the aisle of the grocery store, it may look like there is 100 different cereals or 50 types of soap. that in many cases, the items are owned by two or three companies. when it comes to the supermarket they may have all sorts of names, all over the country but there's really just a handful of the big supermarkets that run at all. so often when we talk about price fixing it is about compan

kroger reports, the giant grocery chain and i think it will talk again about how much it needs to close this deal and why there is nothing monopolistic about the merger. they don't have too many overlapping stores and they plan to do vest the ones that do overlap. i am not sure that matters because the federal trade commission seems determined to block the deal no matter what, which means kroger stock will have to stand on its own merits. we have had three positive orders which is extremely bullish. adobe has an a.i. component. an otherwise magnificent story. this should be a good result given that the analysts are promoting it aggressively ahead of the quarter. we are still not in negative territory. against that is the budding fear that expectations are too high versus a slowing economy and it is september. bottom line, this is a rather unforgiving moment until stocks go low enough to attract real buyers not traders and we get close to the end of september. until then you can try your hand at being nimble and do some selling. you can raise a little cash, stand back and wait for lower

and then you've got kroger, second in line at the top of the s&p. grocery chain beat quarterly earnings and raised the lore end of the full-year forecast on revenue. on the earnings call, ceo rodney mcmillan noted cost-conscious shoppers are buying groceries and eating at home which leads us right back to the federal reserve. the central bank's 2-day policy meeting kicked off next tuesday. markets widely expect those more frugal customers we were just talking about perhaps are reacting to a slowing labor market which is expected to spur the fed to cut rates by a quarter of a percent. so job creation, not inflation, is now the focus? well, yesterday's august cpi revealed faster than estimated inflation on the consumer price side, and regardless, investors appear to be moving past the inflation story. today we got ppi, but as we look at what's going on in the inflation world, should investors get moving on stock purchases or wait on the fed? if let's get right to the floor show. erin gibbs and trader scott bauer. trader -- scott, you're the volatility

us about the proposed merger of kroger and albertsons.ht other states, as well as washington, d.c., they tried to stop the $25 billion merger. they say that will hurt competition, raise prices. copies are saying the opposite, of course. what are the stakes and do think it is likely that the deal goes through? >> the ftc has been tough on companies in general lately and this was a present october 2022 which shows along the cases take and they sued back in february of this year. does not look like it will allow it because they surface some emails and a recent hearing with one of the heads of pricing for one of the supermarket chains saying that they are pricing the goods higher than inflation which shows the taking advantage of the fact that prices were high and this is just another piece of evidence for ftc said they do not care about the consumer here. they will raise prices as soon as they merge. see them blocking this but these cases take years to play out. about 100 or so big cases in front of the ftc including amazon that they have to

this is still a technological marvel for heaven's sake. 6 there's kroger.e been amazed at their ability to run a tight ship even while fighting with the ftc to get the albertsons merger done. they report aid good quarter but with the albertsons deal languishing that puts a lid on the stock. seventh best performer when the fed starts easing, textron. they've got business jets, cessna. i think it could work now the fed's cutting rates. but keep in mind textron will get clobbered if the economy's in worse shape than we think. number'll is franklin templeton, an asset management story but one of its subsidiaries being investigated by both the s.e.c. and the justice department. suboptimal. last month its long-time chief investment officer who managed some of the largest bond funds in america took a leave of absence after getting hit with a wells notice from the s.e.c. in the end it's rarely a good idea to own stock in a company that's under investigation. especially when the justice department's involved too. i don't think you can touch this one. i think this is

. >> sean: back at kroger field in lexington, kentucky. number one georgia leading kentucky 13-12.time-out of the fourth quarter. the dogs looking at second and eight from midfield. kentucky has two time-outs left. one more georgia first down should just about put it trevor etienne the running back. carson beck, 14 for 23, 152. big 33-yard completion a moment ago to dom lovett. play fake, oscar delp, and the ball came out. looked like it came out when he hit the ground. that's the ruling. but also looks like he went down short of the first down. third down and one. >> greg: that ball did look like it might have been coming out before. but lucky for georgia, arian smith right there to hop on it. >> sean: they got it back anyway. you're right, it's coming out. >> greg: no question. >> sean: should have been a fumble. but arian smith recovered. it's actually a break for kentucky. because if it was a fumble -- kirby smart is getting after his crew. this is a big review coming because it looked like to me on the first look, where arian smith recovered, they might have first down. >> gre

that's not what kroger's and alberton's are trying to do. saying let's take the two giants and marry them to each other and share our price data. you know what happens in those circumstances? prices go up and employees also take it in the neck. so the real question is, how do you get more competition? one way we do that is we get the department of justice to endorse our anti-trust laws -- >> i think people -- >> it's all about -- >> listen, we're not going to have any time for other guests to speak. any final thought from the senator? >> i'm good. thank you so much for being with us. always a pleasure to have you here. >> and let's go for competitive markets. >> let it all happen. >> we'll have you back. >> you want industry where is there is exactly one giant at the top and you think prices are going to come down? >> senator elizabeth warren, thank you very much. >>> coming up, our next guest wants the fed to start big, 'lgi us his final thoughts and what it means for your money, next. every second coun. but without investment, those breakt

kroger ceo rodney mcmullen took the stand yesterday in a hearing that could determine the fate of a proposedger with his company's rival, albertsons. the federal trade commission is trying to temporarily block the $24 billion merger, claiming it would eliminate competition and lead to higher food prices. but mcmullen told the court the merger would allow the combined company to lower prices to better compete with walmart and costco. when asked why food prices are up 25% since 2019, mcmullen blamed rising supplier costs, fuel prices and credit card fees. but mcmullen is making a promise he is pledging to cut grocery prices by $1 billion on day one. if the merger is approved. that court hearing on the proposed merger is expected to last through next week. >> the number of job openings in the u.s. just hit the lowest level since january of 2021. the labor department's number fell below expectations, increasing the likelihood that the federal reserve will cut interest rates this month. and turning now to the weather. evacuations have been ordered near a fast moving wildfire in central oregon. it

kroger and albertsons have spent nearly $1 billion in merger costs this year.ncrease wages. >> amazon announced its remote workers need to return to their corporate offices five days a week by the start of next year. amazon also plans to require managers to supervise more people. the ceo says he wants to bolster the corporate culture and ensure that it remains nimble. a new study by a remote working job board finds 57% of remote workers surveyed said they would absolutely look for a new job if they were not allowed to continue working from home. holiday hiring is expected to be lower this year. fewer holiday seasonal jobs will be available this year due to a softer labor market and tightening consumer spending. a report by reuters says. retailers are expected to add 520,000 seasonal jobs in 2024, compared to more than 564,000 last year. the forecast for holiday hiring is the lowest since 2022. holiday sales are expected to grow at their slowest pace in six years. >> law enforcement agencies are working hard to recruit more female officers. many are pledging to

there are many other issues that have contributed to increase the week she announced this policy kroger, ceo admitted in in a in a case that kroger had raised prices far in excess of just accounting for for inflation. so it might not be the entire problem but it certainly is an issue and is certainly a political issue. >> polls well, it's took a message, but grocery store margins right now, as as i sit anywhere between 1.5 and 3% on the high-end so to say that there is rampant price gouging and your grocery store just doesn't hold water. in fact. all right. we're going to have to pause for just a second, stay with us. >> we will be right back because still ahead on cnn this morning, a hotel workers strike is dragging on now thousands walking off the job over the busy labor day weekend and what they're hoping to get in the standoff, plus and is in israel protests continue and outrage grows over the killing of six hostages by hamas in gaza wiwit jake tappeper today y it for on cnn. >>>> why 80% o of nfl l players chchoose asleep p ever smartrt, because e the higherer my sleep q scscore, t

history plays out in court, the ftc is trying to block the proposed $24 billion merger between kroger claiming it would eliminate competition and lead to higher prices. but executives told the court the merger would allow for lower prices to better compete with companies like walmart and costco. aldi is also adding to the competition. the discount grocery chain says it's adding 13,000 workers while boosting its average hourly rate to $23. overall, food prices are up about 2% in the last year, but they are up more than 20% since the pandemic. >> keurig will have to pay the government $1.5 million. the company filed for, claiming that its coffee pods were recyclable. the sec says two major recycling firms said they would not take the pods. >> coming up, the debate over homework. are kids getting too much? >> all right. plus one mother's ♪ >> all right. plus one mother's instinct fighting off a hawk herbal essences is a force of nature. our shampoos and conditioners are made with supercharged botanicals. ♪ these sulfate-free formulas deeply penetrate and replenish nutrients. ♪ to boost h

supermarket chain, kroger, is vowing to low r prices but only if a proposed merger is approved.the government wants to block the $24 billion merger because it claims it would eliminate competition and lead to higher food prices. but the kroger told a court hearing the merger would allow companies to lower prices in an effort to compete with wal-mart and costco. he is pledging to cut them by $1 billion on day one if the merger approved. vice president harris said on the campaign trail she will crack down on prices while former president trump has campaigned on inflation, reminding the public that grocery prices have increased by more than 20% under president biden. now, this court hearing on the proposed merger is expected to last through next week so we'll see what happens, robin. >> robin: we will. thank you very much for that. now the important test for women that many dread. now there's a potential new way to screen for cervical cancer at the doctor's office. erielle reshef is here with that story. good morning. >> this could make a very big difference. this is good news for

should have said, we can deliver the numbers, we just want to be a little -- if you look at what krogeraid, rodney mcmullen, it's an uncertain time i'm using that because you got to eat other than the donner party, which was just a disaster for the numbers. >> you go to that donner party a lot. it's somewhere lodged in that brain of yours >> the diary of the donner party is incredible. they ate the glue on the wheels. i do feel -- i just want to go back to correct something. >> that david said >> yes i was very proud of working 100 hours a week, and just like adobe had a great quarter, i think that you should be a little bit more, let's say, positive about my hundred hours that i spent >> positive about it >> yeah. >> oh, we're going back to that? >> because, what have you done for me lately? i felt this call was, again, this was like -- he comes on our air and tells an unbelievable story, it's amazing, and all anybody cares about is, hey, i'm not buying that. you've got -- what's going on with thanksgiving? did you see that there was a switch on the calendar that black friday is anothe

another winner, kroger, same-store sales, strong quarter, customers coming in for lower prices on producegital sales up 11% but because in general groceries are expensive on the conference call executives said strength related to theft remains high. ashley: yes. people stealing stuff basically. thank you very much. anything and everything. more news coming to us, the treasury department announcing a venezuelan officials who are aligned with nicholas maduro over the presidential election in venezuela, 16 maduro aligned officials have been sanctioned after they seized maduro's plane. germany is cracking down on immigration. they are planning on instituting border checks on all nine of their land borders. wasn't germany the champion of open borders? what happened? >> they were among the european countries and now what we are seeing is a complete reversal, tamping down on border security in an effort to combat what german officials are telling us is, quote, islamist extremist terrorism and serious cross-border crime. take a listen. >> translator: i have ordered this today and already notify t

again, this past week, we saw the ftc can case locking the suits to block the merger of kroger and albertsonsme a behemoth is underway. in that case, we have sworn testimony from the ceo and other executives and pricing advisors that said they have been pricing above competitive levels for a while. in particular on milk and eggs. again, vice president harris, her approach has been vindicated this is. she also talked about price gouging. these are plain-vanilla common- law that really goes after people that exploit crises. hurricanes and natural disasters. and other disruptions to drive profits during a period of shortage is. it is a common sense proposal that harris is putting forward to use this toolkit at a federal level -- federal level. >> the goal is to help the audience get better and smarter. tonight you helped us do just that. >>> when we return, the election interference case was back in court today. why the judge said the calendar is not on her mind. ing you coun on everything with just one card. chase freedom unlimited. so, if you're off the racking... ...or crab cracking, you're c

stuart: the ceo of kroger is trying to save the merger with albertson's and the government doesn't wantn and earth to stop it. stuart: he says together the two chains will lower prices by $1 billion as soon as possible because they will have the size to compete and negotiate better deals, they would control 14% of grocery sales. by contrast walmart has 22%. the ceo testifying in our federal court matters they try to block this merger on antitrust concerns so we ask if they are promising to lower prices by one billion dollars is that monopolistic and where is the price gouging? stuart: don't get me into this because my head will explode. the black national anthem was performed before last night's nfl kickoff game. once again has been met with backlash on social media. is it time for the nfl to abandon this? giano caldwell deals with it. kamala harris, her surrogates trying to lower expectations. mark marathon the implications this debate could have in pennsylvania which is a much released state. you ever try cashbacking? it's earning 3% at drugstores with chase freedom unlimited. so i ca

kroger up 5.8% on the day. this after they raised their sales view. they are seeing decent demand, good demand for their stores at the grocery markets and a piece of it has to deal with her ability to -- personalizing the experience. the s&p 500 is down. shares of moderna down 17%. they cut their r&d budget. they are seeing less pickup, less demand for the covid vaccine. the stock since the pandemic down more than 80%. micron was downgraded. nvidia on the day, we will be looking at this around 12:30, up for a fourth day. the chip complex overall not so much, micron being one of those stocks that is down. scarlet: fantastic wrap up. it really indicates there is a lot of movement underneath the surface. the macro outlook is hanging over financial markets from an index perspective. let's bring in bloomberg's michael mckee. you cover everything. we had two data points that get to the heart of the fed's dual mandate. let's start with prices, which came in hotter than expected. michael: both in the headline and the court. most of it was in services, the mar

kroger reported before the bell. how did they do, lauren?oweredded grocery prices because that works, right, to help push through their merger with albertson's saying, hey, p ptc, look, we sell -- ftc, look, we sell cheaper prices too. we do want the salad at mcdonald's, we do want to eat healthy also. hay did raise the lower end of their annual sales forecast. ashley: i say uh-huh on the salad. i don't think i've ordered too many, but that's another story. all right, lauren, thank you. jpmorgan is going to the put a limit, apparently, on how many hours junior bankers can work. all right or, lauren, what's that limit? lauren: pencils down at 8 tohours a week -- 80hours a week. let's often this. it's basically working 8:30 in the morning to, what, 10:00 at night six days a week, and it matches the cap on medical residents in new york state. what that the means to me is that there is such a thing as a breaking down and being overworked and making mistakes and having bufferinout -- burnout. also a bank of america reportedly asking their junior

kroger dropped their prices, walmart dropped their prices. it was effective in doing it. economy is radically better under the biden-harris administration. we now have a soft landing coming, we were able to get 50 basis point cut because of it, down 42k, and i get it, the retail politicking, i can see the charm of it, i can see how exciting it would be a donald trump walk into the kitchen that i was working at or the bodega i was working at, but the american people are seeing through it, and it's being reflected in who they think is best suited to handle the economy. donald trump's lead on economy is getting slashed in every survey that comes out. in the nbc poll is only up nine, used to be up 13 points higher than that. in the cbs poll, up six, the fox poll out five, tied in the ft poll and mourning consult. we know that his policies will be more inflationary, add something like $5.8 trillion to the deficit. kamala only $1.2 trillion. and when he continues to say i'm going to do these things, i'm going to half the cost of energy, no plan to do it. the tariffs, that is no

. >> between kroger, that owns ralph's, and albertson's that owns safeway.ays this merger risks raising food prices even higher than they are now. >> grocery prices have gone through the roof. i believe that you think it's because of monopolies. but most economists say that it's because of supply chains caused by covid and the ukraine war. so, which is it? >> so, there's no doubt that the pandemic and the war led prices to soar. what's been interesting is that even as some of those supply chain pressures have eased, prices have not come down concurrently as much. >> so, instead of inflation, are you contending that it's greedflation that these monopolies are deliberately hiking the prices? >> so, there's a lot of discussion about what's driving the inflation. and we've actually seen some executives boast on earnings calls about how inflation is great for their bottom line. >> they say that? >> they have said that publicly, yes. >> what about the argument that when companies merge prices often come down because of efficiencies, scale? >> even if those efficie

. >> reporter: flynn cited the potential kroger and whole foods expanding again.s seeing more demand in offering a whole new merchandising mix. a bright outlook for this sector, kelly. >> diana, thank you. >>> my next guest expects a quarter point cut next week, he is not ruling out a bigger one, specially if the tone hold around 50/50 in the days before the decision christian is here, vice chairman of ever core isi great to see you so a last-minute call, you think? >> i suspect that chair powell is very conflicted coming into this meeting my hunch is his own instincts may go more in the direction of the bigger 50 basis point cut, though there seems to be a lot of inertia on the wider committee. and more likely than not still i think it goes to that so-called dovish 25, so 25 promise to step up in future meetings, if needed but i do not think this is a lock and i don't think we should read those comments from williams and waller on friday as communicating a decision that's more or less been made i suspect that that decision, that call from powell, still lies ahead

there are currently three separate antitrust cases involving kroger's $25 billion offer to buy rivaleasanton based safeway. consumer groups along with several state and federal regulators, claim a merger would increase prices and eliminate union jobs at kroger and albertsons have spent nearly $1 billion in merger costs this year, and the companies contend the deal would benefit customers. holiday hiring, expected to be lower this year. a new report by reuters says retailers are expected to add 520,000 seasonal jobs in 2024. that's down about 44,000 from last year. holiday sales are expected to grow at their slowest pace in six years, but as this morning's retail report found, more people may be shopping online. and our christmas elf producer aaron just ran in here to tell me, just so you know, dave clark. >> yes, christmas is less than 100 days away. >> 99 days. >> i have i have to wait longer to get out there shopping. >> support your local shops in particular. i'm pam cook. let's look at your dollars and cents. >> all right, pam, thanks for the reminder. time is now 748, and there'

kroger admitted, we were making the prices artificially high on your groceries. sorry. they're doing it. >> a lot of the price gouging, joy, comes from the fact that there's not enough competition. these big corporations are now bigger and more concentrated and have less competition than they have had any time in the last 50 years. and as a result, they can keep prices high. now, what the biden administration has done, and i'm very, very thankful for it, has been more aggressive with anti- trust, anti-monopoly law than any administration, any democratic administration in the last 75 years. but there's much, much more to do. >> thank you both. we always appreciate a little truthiness when it comes to the economy. thank you both. >>> coming up, a dramatic move from republican liz cheney, who just endorsed democrat kamala harris. more on that development. >>> and trump's struggling, struggling campaign next. where'? i really tried sleeping with it, everybody. now i sleep with inspire. inspire? no mask? no hose? just sleep. learn more, and view important safety information

that now has its products in more than 25,000 stores nationwide, target, cvs, amazon, everywhere, kroger of cookie dough flavors, pizza crust, puff pastry dough, and breakfast biscuits lauren of sweet laurens knows how to satisfy that sweet craving but in a healthier way. you've got to hear the story of sprouting a business from something as fearful as being diagnosed with cancer. it's my brand new everyone talks to liz podcast that drops tomorrow i want you to listen to it, let me know what you think. apple, google, spotify, iheartradio, we are everywhere you get your podcasts we're coming right back don't go away dow jones industrials gaining 288, the nasdaq up 111. we're doing a live trading event in aventura, florida. at this incredible event, my team and i will be demonstrating the smart money trading strategies that have made us famous. if you're serious about trading, you don't want to miss this unique opportunity to trade shoulder to shoulder with the pros. it's limited to just 100 people, so make sure you grab your tickets now. call 888-809-8058 to reserve your seat. that's 888-

kroger's. moment has that story. >> right in front of the san jose international airport because of this reason jets flying up just a couple 100 feet above us here. also really close to us ijn't an house and cabinet with more than 100 people living there. >> that's a big issue. the city of san jose tells us because those people living so close to the flight path here, violate faa guidelines like i'm trying to throw a garbage. somebody made a garbage pile here jackson has been working hard to keep her space clean here. she says the city of san jose has been critical of trash. >> around this encampment in columbus park, we never know when. they're gonna come. despite staying busy, she's one of dozens of people here who may be forced out of the encampment next week. >> and beyond the trash. there's another big house advocates say the city complaints that campfire smoke and birds attracted to the encampment pose a danger to planes taking off and landing at the san jose international airport. city o