i want to ask about ftc chair lina khan's vision of anti—trust enforcement.t does this ruling say about her vision and fighting for those views? it is a disaster. it is a disaster. i think this is a black eye lina khan, a black eye for the ftc and i think right now there are more questions than answers. it never felt it had credibility within the industry, within wall street. i think microsoft knew that. they went, it is a flecks to muscles moment for big tech. it could be now more mna on the arise and with the ftc losing this battle. dan ives speaking to me earlier. let's turn to golf and the mega merger between the pga tour and the saudi—run liv golf. we do not know how much of the deal is worth but expected to be in the billions of dollars. us lawmakers have raised concerns about saudi arabia trying to improve its image through international spot. samira hussain has more from new york. the decision rocked the world of golf. two bitter rivals, saudi—backed liv golf and the us pga tourjoining forces. now although there is only an agreement in principle, the

law violation. >> now, the saying in washington, frank, is personnel is policy, and by selecting lina khan as ftc chair, president biden has decided they want the agency to take this much more aggressive approach. >> the guideline is interesting when it comes to vertical and horizontal mergers will this have an impact on the mergers? >> i don't think so. these are going to take a while to get into place. they're draft guidelines for while, and what that means is there's a common period in the typical bureaucratic rollout process. there's going to be a lot of time in real time where these are actually in place. what it does is puts a marker down and gives you a sense of where the ftc and doj are going in terms of ftc enforcement and the consolidation enforcement. we'll have to see how it plays out. there's another presidential election coming up in 2024 if a new administration comes in with a new view on this, they could change the guidelines once again. >>> be sure to catch ftc chair lina khan and antitrust chief jonathan kanter this morning. >>> let's get a check of our top earnings stori

lina khan , bobby kotick, 4573 new high for the ye. ar don't go away.gainst the nazis. they have a 12 month head start. 18. we've got one hope. our nations best scientists working together. here, secret laboratory. keep everyone there until it's done. you're the great improvisor. but this, you can't do in your head. this is the most important thing to ever happen in the history of the world. - 5. 4. they just fired a starting gun. - 3. the president needs to know what's next. - 2. what's next? -1. you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire i remember being on aau trips, high school games. my mom would always say, "you need to fuel the body and you need salt." i would always be the kid not cramping, ready to go. fast forward 20 years and i go from eating salt out of my palm to drinking lmnt. >> good wednesday morning and welcome to another hour of squawk on the st

they're going to be in everything involving e-commerce, because everyone's been afraid of lina khan,ut that's over. the doctrine won doctrine won by the way, just so you know, it's not corporations, one, khan, zero it's established antitrust phil arita doctrine go back to the '80s when he established our doctrine and realize, as much as i like jonathan kanter, he's a justice, he understands the doctrine. the tyranny of khan has ended. the tyranny of distribution of wealth >> it's going to be on us, then, to ask ceos whether or not they are thinking of m&a differently start starting today >> we have about a hundred more oil companies than we need we have about 2,000 more banks than we need, but everyone's been afraid to do anything except for jamie dimon and that was like a rescue mission. >> yellen has talked about bank mergers as seemingly a nonthreat. >> how about yellen goes, spends four days in china, cooperation, cooperation, cooperation, and then they do the biggest flyover of taiwan they've done in months the belligerence but they can't get the h-200, so who cares? >> and now,

lina khan was sworn in as chair of the federal trade commission on june 13, 2021. she was an xo see it professor of law at columbia lost to -- she was an associate professor of law at columbia law school. she was legal advisor to fcc commissioner rokeach opera -- roheat chopra. she is a graduate of williams college and yell law school. the format today will begin with prepared remarks by lina khan followed by a conversation in which we are delighted to have peter orszag doing the moderating. she is ceo elect at lazard -- peter is ceo elect at lazard. as a reminder, this conversation is on the record. we have a lot of media online as well as some in the room. without further ado, the podium is yours, lena. [applause] chair khan: good afternoon. thanks so much to barbara and the whole economic club of new york team for hosting me. thanks in advance for peter. today, i am going to discuss why after decades of retreat, our nation's long-standing commitment to free and long-standing commission has come roaring back to the forefront of policy and what we at the ftc are d

sometimes i think lina khan forgets where she lives. like a european regulator, which is charged mandating protecting competition and other businesses whereas in the united states, the laws and mandates state that you have to protect consumers, and i can't see consumers being harmed from increased selection and faster delivery frank, i don't think you've been harmed by getting more selection and speed of delivery by amazon. >> what ftc is trying to put forward is they use the lodge it issics-based business as opposed to markets-based business. >> i get it. at the end of the day, it's a service. there was an article that came out several hours ago. we don't know what's in it if you look at the history of wins versus losses from miss lina khan, it leaves much to be desired. until i see more meat on the bone where consumers are harm and these practices are malicious, i'm just not buying it. >> why do you think the stock let's moving now there was a report a few weeks ago, maybe june 29th very similar report. it didn't have the same detail,

guidance for 2020 and for 2010 from horizontal mergers we're going to have both of the ftc chairs lina khan and a.j. jonathan kanter. both are going to join us at 8:30 eastern time in a very important conversation about what this all means. it should be said this is a document that's put out for comment. it's not official, and it's not the law. it's really a way of anchoring, almost -- some might describe it as a political document. the trump administration put one out. it started in 1968 there was a new version put out in 1982. what it does -- and this document has evolved over the years. when i say an anchoring technique, in a way it sort of anchors this group to this view of the world and then if another administration comes along. >> this is just their impression or regulator's impression of what they think the law is and go about trying to enforce it. >> right. >> look. last week they lost a couple of major battles in court, the ftc did, in their battle to try and say microsoft couldn't take over activision blizzard. does this document recognize that or -- >> no, i don't think this cha

. >> plus the crusader against corporations, lina khan making ripples this year with some big antitrust suits under her belt and working to set stricter guidelines for mergers down the line we're going to speak to a former doj insider about the ftc chair. but first a check of the markets which are largely higher today, tyler. we have the s&p up about half a percent. 4561 is the level there. the dow right now 224 points and the nasdaq eking out a gain as well. but of course this is all ahead of a very big week with a lot of market moving potentially catalysts. >> very much so. between the fed and all of the earnings that are coming out ahead it is a big week for mar markets. wall street expecting earnings from some 550 companies. about 40% of the dow apple, microsoft, meta all on deck and while we await another fed decision, that is there on wednesday at 2:00 p.m. let's bring in jack ablin, crescent capital's founding partner and cio. let's start with earnings, why don't we which ones will you be looking at most closely? and if corporate earnings are coming down as many predicted, why is

only from xfinity. >>> microsoft and activision scoring a victory against ftc chair lina khan, rejectingility to continue her crusade against big tech into question, but while microsoft has won the battle, it is unclear if they have won the war the deal faces scrutiny from uk regulators and the ftc could appeal the ruling as early as today joining us now, former department of justice and fcc antitrust official demilo ferris, it is good to see you. do you -- >> good to see you. >> where do you come down, just on the action that lina khan took in the first place? do you think this judge, she was not a -- she was a biden appointee, so the things that she said in terms of why she made this decision makes sense to me, you can't use one or the other. you have to have not only the ability to hurt your competitor, but also the incentive she said that there is no incentive for microsoft to do that does that make sense to you? >> yeah, i mean, look, her decision brings out all the hallmarks for why vertical deals, which is what this is, a deal not involving companies that compete today, are a chal

many people know lina khan's history. did write that seminal piece about amazon when she was at yale law school. we had her on last week talking about, of course, the new merger guidelines but jim, again, there are -- i know any number of amazon shareholders who think that thing would be a rocket ship if they ever said, you know what? we're splitting amazon web services off from retail or maybe even logistics >> we know they have to start -- there's great leverage that they can cut costs a little bit on amazon prime they have really not emphasized that amazon web services, if you had any sort of delta back-up, is worth not the price of the company but worth a great deal so, lina khan, really, on the side of the bulls. jonathan kanter, on the side of the bears. let's keep track that the government is very much involved with both companies. >> it still comes up a lot we got plenty of other things to get to this morning. you know, at&t, was it verizon who did you say was irrelevant recently >> no, i just think that what you'

look, lina khan, we know she has that losing track record microsoft is the biggest case, of course, buthis is going to last way longer than her tenure. these things take years to work their way through. amazon has a lot of money, they're highly motivated to fight this thing through. >> when you say it will take years and last longer than lina khan will be with ftc, that's a drag on the company. you remember what happened with microsoft. bill gates said it's why they went mobile. it's a heavy lift. >> this is anotherle test of the lina khan and jonathan canter theory, what continue substitutes antitrust and who gets hurt. it's not necessarily the customers but the merchants who live on amazon and basically, you know, their entire destiny is tied to be part of the amazon platform and being subject to the rules. they're trying to level the playing field for everyone one thing they seem to be going after is the idea if you're a third-party seller and you want to sell through the prime program, two-day shipping and so forth, if you don't use their logistic is network and use their shipping,

. >>> coming up, lina khan in the hot seat today on capitol hill, facing questions about the commission'she congressman running that hearing, jim jordan, will join us shortly and next hour, a very special interview with disney's ceo bob iger he'll join cnbc's david faber at 8:00 a.m. eastern time, fresh off the extension of his contract through 2026. stay tuned we'll be right back. >>> time now for today's aflac trivia question. e gd s the symbol forolon thperiodic table the answer when cnbc's "squawk box" continues is that a goat?! you talkin' about me? gaaaaaaaaaaaap!!! i think this goat is saying “gap.” must be talking about the expenses health insurance doesn't cover. so who's talking about the money aflac pays to help close that gap? gaaaaaaaaaaaap!!! aflac! aflac! gaaaaaaaaaaaap!!! it's about to go down, baby! aflac! aflac! stop that goat! get help with expenses health insurance doesn't cover at aflac.com there are some things that go better... together. burger and fries... soup and salad. like your workplace benefits and retirement savings. with voya, considering all your financial

federal trade commission, lina khan facing tough questions on her age's litigation record from republican don't say that to be disrespectful but these are after all taxpayer funds. you're now 0-4 in merger trials. the average win rate for the ftc in the modern era is around 75%. so i have to ask why are you losing so much? do you expect to lose? >> would you repeat that? >> are you bringing cases you expect to lose. >> absolutely not. >> okay, your track record seems to suggest otherwise. cheryl: meanwhile, in the last hour the ftc requested a stay of court which would prevent the close of microsoft's controversial 69 billion-dollar acquisition of activision blizzard. here to discuss this now, charlie gasparino along with former u.s. antitrust enforcer khan rahim. great to see you together. here, charlie. >> deputy attorney general, did i get that right? >> you gave me a promotion t was assistant attorney general in charge of the antitrust. >> you did run the antitrust division. the ftc is asking for a stay. they lost, they got slammed by the federal courts. i have not seen a ruling like

. >>> when we come back, the ftc not giving up on trying to block microsoft-activision, lina khan goesn front of house judiciary later today. got some energy m&a, domino's, coin, carvana, meta, snow when we return. (vo) this is sadie, she's on verizon. the network she can count on. and now she has myplan, the game-changing new plan that lets her get exactly what she wants and save on every perk. sadie is moving to the big city and making moves on her plan, too. apple one, on. now she's got plenty of entertainment for the whole ride. finally there! hot spot, on. and she's fully connected before her internet is even installed. (sadie) hi, mom! (mom) how's the apartment? (vo) introducing myplan. get exactly what you want, only pay for what you need. act now and get it for $25 when you bring your phones. it's your verizon. i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. take the first step to see

it will be a long one. >> this will certainly be a career defining moment for lina khan, who very much established her identity with these arguments about how amazon machine argues, abuses its market power. i am curious if you think she has a shot at this, and also more importantly, what impact this action would have on the rest of the market. >> it is a novel theory. so who knows? but i have found her quite impressive. i would not underestimate her if i were amazon or anyone else. in terms of the broader market, there are two ways to look at a. who can compete with these companies? i invest in companies but the reality is, i can almost never invest in the company who tries to do what amazon or google or microsoft or anyone like that does, simply because they have so much market power that competing with them is not feasible. so i think, to me, the great concern isn't one of fairness, it is that we need future innovations so that google, amazon, 2030 years from now they are -- i mean, there was a day where you could not imagine ford or general electric not being the best companies in t

lina khan has to testify before the house judiciary committee tomorrow.government overreach? >> charles, you're talking to someone hoe always believes that you know, i believe what ronald reagan said. when the government comes in and want too help look out because that will be the worst help you will get if it is help at all. i wish the government would back off and not have any hand in overreach but i think it was a good decision today with microsoft activision. charles: i think it was an excellent decision and a lot of decisions that have been made since she has taken over have actually harmed consumers. i don't think they're looking out for consumers. i think about big government, big power, rewarding friends in business, and not rewarding those that you either dislike or the industry should dislike. i have to ask you about what is going on at disney. it feels like this company is going down the tubes quickly. this morning a major wall street firm, needham, says disney will be bought in three years this is unthinkable. a few years ago everyone was urgi

these sellers, just to be able to access the tens of millions of prime members in this country. >> lina khan taking aim at amazon has a subscription services that are tough to unwind. maybe next she will look at how difficult it is to leave a gym membership. that's almost impossible. jason del rey, great to have you on, always love talking about big tech. and you must stay on for this. coming up, this man had one single wish for his 100th birthday. and it came true, hundreds of times more than expected. you're going to smile before you go to sleep tonight. just stick around, when the 11th hour continues. ues. [ tires screeching ] jordana, easy on the gas. i gotta wrap this commercial, i think i'm late on my payment. it's okay, the general gives you a break. yeah, we let you pick your own due date. good to know, because this next scene might take a while. for a great low rate, go with the general. i'm sholeh, and i lost 75 pounds with golo. next scene might take a while. i went from a size 20 to a size 6. before golo, nothing seemed to work. i was exercising for over an hour every day. it was

this morning, chair lina khan appeared before the house judiciary committee.ve kovach is here to break it all down for us. >> i'm going to do it in 90 seconds. khan spent an hour under questioning today in the judiciary committee. coming out today, "washington post" and others reporting the ftc opened an investigation into open ai, that's the company behind chatgpt now, while khan didn't comment directly on an open investigation, she did talk about her broad concerns the harm ai can cause. here's what she said >> there are no checks on what type of data is being inserted into these companies and we have heard about reports where people's sensitive information is showing up in response to an inquiry from somebody else, we have heard about, you know, liable defamatory statements, that's the type of fraud and deception that we're concerned about >> now, finally, here is the big one. the ftc last night appealing its loss in the case against microsoft $69 billion acquisition of activision this week asking the ninth circuit to keep the temporary block on the deal in

charles: all right, ftc chair lina khan facing serious, massive criticism own capitol little.r bid, ftc to block the microsoft activision deal. i will bring in "kudlow." larry, she was superstar in high school and college and wrote about antitrust, catapulted into this job, i don't think she was prepared for no matter what side of the aisle you stand on. i love that decision, when i saw the decision -- >> the microsoft cities. charles: the microsoft decision, and of course the other decisions with social media, supreme court decisions -- >> she lost, she lost everything she toughed. charles: not just that, extension of the biden administration heavy-handedness. we have three branches of government for a reason of the biden administration tried to push aside congress and judiciary and now getting pushed back and i love it. >> yes,, i agree with you absolutely. lena khan is fundamentally anti-business. charles: right. >> that is the same mentality that runs you there the biden administration everywhere you look. these grace are government central planners, right? they want comma

these sellers, just to be able to access the tens of millions of prime members in this country. >> lina khantion services that are tough to unwind. maybe next she will look at how difficult it is to leave a gym membership. that's almost impossible. jason del rey, great to have you on, always love talking about big tech. and you must stay on for this. coming up, this man had one single wish for his 100th birthday. and it came true, hundreds of times more than expected. you're going to smile before you go to sleep tonight. just stick around, when the 11th hour continues. 11th hour continues. she wants and only pays for what she needs. she picks her perks and saves on every one. make your move to myplan. act now and get it for $25 when you bring your phones. it's your verizon. hey bud. wow. what's all this? hawaii was too expensive so i brought it here. you know with priceline you could actually take that trip for less than all this. i made a horrible mistake. ♪ go to your happy price ♪ ♪ priceline ♪ with chase freedom unlimited, you can cashback 3% on dining including take-out. cashback on fla

deirdre bosa >>> wall street is buzzing about lina khan and the ftc.ews to get to including new regulations that the government has put up. we'll tackle that when we come back you know doug, ever since switching to workday you've been a real rock star. rock star? what do you know about rock stars? billy idol? i mean where's the skin-tight leather? my shoes are leather. where's the unnecessary zippers? that thing! billy, rock star is just how doug feels when he uses workday. thanks, rory. i'll show you rock star! be a finance and hr rock star. workday. for a changing world. billy idol just stole your golf cart! - i got the cabin for three days. it's gonna be sweet! what? i'm 12 hours short. - have a fun weekend. - ♪ unnecessary action hero! unnecessary. ♪ - was that necessary? - no. neither is a blown weekend. with paycom, employees do their own payroll so you can fix problems before they become problems. - hmm! get paycom and make the unnecessary, unnecessary. - see you down the line. we planned well for retirement, but i wish we had more cash. you thi

i did ask lina khan, chair khan, about their plan there, having been beaten in court and what the planas for the alj process. take a listen to her answer. >> if we get an adverse decision from a district court, we look very closely at it to determine whether we think there were any errors of law or misapplication of law that we think warrant appeal, and so those are the types of assessments that we undertake as we make these decisions. there are a whole set of instances in which the ftc has not moved forward with an appeal, but in instances where it has, sometimes quite successfully, it's always because we believe that there was a misapplication of the law or further clarification of the law that needs to be done and that's usually what drives those decisions. >> and interesting coincidence, i had bobby kotick almost directly after he's the ceo of activision we did an interview as well, and i did ask him, well, take a listen to what i asked him and his answer regarding the ftc >> she doesn't seem to be backing off in terms of wanting that administrative law judge proceeding does that s

they haven't done so very offen in the past, but clearly this is a huge, huge deal for the ftc and lina khan who's taken up the head of the ftc on a very anti-big tech, antitrust as well. it could go either way here, frank. a lot at play for the ftc. also whether they like to drag it out will remain in question. >> i have to be honest, as long as thief is available, that's key. >> that is key. >>> a lot more to come on "worldwide exchange" including one word investors have to note. first, much more ahead of today's cpi record and what mark zan city is telling clients after the release. >>> after a sizzling first half of the year, investors are getting a little worried whether we've come foo far and too fast. and caleb is here taking a look at individual investor sentiment and lay later on in the show, beey hope to crack rort frank is here to dig in on that. a very busy day ahead. >> announcer: this cnbc program is sponsored by ibm. ibm, let's create. well, with ibm, you can use software to help you connect and analyze data— from hvacs to elevators to lights. what if we use ai-driven insights

this opens up the possibility, that of alphabet, microsoft, that it could actually buy them because lina khan -- here theory here has been defamed. >> i think this opens the door to those kinds of transactions that s itdom straights how hard litigation challenges are going to be hard to prove by litigation agencies. again, what we have very skillfully in this case and we've seen in others is the merging parties anticipate possible problems, they come forward with solutions so that a company that anticipates those problems offers the solutions and then is willing patiently to litigate the case to a close either in federal district court or elsewhere that they're going to have a good chance of succeeding because we've seen zbe and again judges are worried about the quality of the evidence, about speculation, about a future that's hard to predict. i think this gives companies greater assurance that they can succeed, especially if they're willing to identify potential trouble spots. even if the agencies don't like the solution, the judges are going to listen as the judge d did so clearly in this

but again, that lady you just heard from, lina khan, she looms large in the thinking of many who are her counterpart at the doj, jonathan kanter, who we often mention as well, who runs antitrust at that regulator. they loom large because even if you think you can win in court, the idea that you might have to go to court in the first place may mean, let's not bother >> unless you think you can win. and maybe more do think they can win, even if they have to go that road. the ftc, david, to me, continues to -- they keep talking tough, but their track record doesn't necessarily back up the bark >> yeah. >> right >> but the idea is, talk tough and try to stop people from even thinking about doing something, and freeze the market. i think that's as much part of the strategy, scott, as anything else but you're right the question, though, still becomes, all right, you're willing to go to court, because we think you can win, but that's going to be 18 months. who knows? could be two years really want to take that amount of time? that's still something that's difficult for some ceos to process

work through the issues and opportunities i think we will come to a quick resolution >> ftc chair lina khanelieves in the review. >> we believe in the review. i won't comment on any specific matters. generally, if we get an adverse decision from the district court, we look closely at it to determine whether we think there were any errors of law or misapplication of law that we think warrant appeal those are the assessments we undertake. there are a number of instances where the ftc has not moved forward with the appeal, but where it has successfully, it is because we believe there was a misapplication of the law or further clarification of the law that needs to be done. >>> apple shares hit a record high yet again on wednesday gaining over 2% following the report that the tech giant is working on its own generative a.i. tools it has built its large model framework and built a bot called apple gpt. >>> goldman sachs has named the chinese stocks that will benefit from a.i. development with two on the buy rated names you can find out which stocks they are tipping and the expectations on our su

house judiciary committee chairman jim jordan pressing the federal trade commissioner lina khan on whatd for every single communication relating to elon musk. not communications that he just sent to someone or communications he received. that actually seems more than harassment, seems like almost an obsession. why such an intense focus. >> it was found that twitter's lax policies allowed -- the consent decreases we have prohibits twitter from sharing personal information with third parties. when we read that twitter may have granted access to third parties, that's what our teams were seeking information about. maria: twitter is asking a federal court to stop government data oversight of the social media giant claiming it's given more than 22,000 documents to the ftc so far. the ftc's probe centers around whether musk violated a privacy settlement from may of 2022 that was agreed upon before he took over as ceo. rebecca, this smells of once again politicization. i'm wondering why they are probing elon musk. what's your take? >> well, it's clear to me that we see that this is, you know, a

microsoft one of the better performing dow components more details when we come back >>> ftc chair lina khanppearing before the house judiciary after the significant si announced last night it will appeal a decision to let microsoft have activision go through. our steve kovach has been listening. >> reporter: chair khan focusing on the investigation into twitter for violations of a privacy settlement after elon musk took over the company asking the court to eliminate that settlement. the ftc has gone absurdly far beyond the mandate granted by congress ethics concerns, khan when she didn't recuse herself for a case against meta though an ethics official advised she do so the losing record blocking mergers and pointing out ftc is 0-4 when merger challenges and why the ftc brings those cases to courts. take a listen to that exchange >> we fight hard when we believe there is a law violation and, unfortunately, things don't always go our way. we make determinations -- >> are you bringing cases you expect to lose >> absolutely not. >> meantime the ftc in a legal filing last night telling the court

. >> plus the crusader against corporations, lina khan making ripples this year with some big antitruste're going to speak to a former doj insider about the ftc chair. but first a check of the markets which are largely higher today, tyler. we have the s&p up about half a percent. 4561 is the level there. the dow right now 224 points and the nasdaq eking out a gain as well. but of course this is all ahead of a very big week with a lot of market moving potentially catalysts. >> very much so. between the fed and all of the earnings that are coming out ahead it is a big week for mar markets. wall street expecting earnings from some 550 companies. about 40% of the dow

thank you.gh [applause] >> annex, federal trade commission chair lina khan discusses consumer transparency and protections. then a house armed serces subcommittee hears testimony on artificial intelligence in the military and its role in national security. and at later superintendts from various military academies testify on their admissions process and curriculum. ♪ c-span is your unfiltered view of government. funded by the establishing companies and more including media calm. >> @media, we believe that whether you live here, or right here, or wait out in the middle of anywhere you should have access to fast, reliable internet. that is why we are leading the way. >> media calm support c-span as a public service along with these other television providers. even you a front receipt to democracy. ♪ c-span's "washington journal" live form involving discuss the latest issues in government, politics and public.

they knew that the ftc has been policing mergers under the ftc's lina khan particularly on these bigthis merger was immediately in the ftc's bull's-eye, so a big win on that front. microsoft has had their focus will now turn to the u.k. and many antitrust experts are cautioning that the british regulator's statement that it stands ready doesn't mean a settlement is automatically a given you are looking at the bloomberg microsoft's cash flow is stronger. this is certainly a shot in the arm for microsoft. it will be interesting to see how the stock continues to perform as these legal issues go forward. big focus on the ftc and its ability to block these mergers. the judge pointed out that it felt microsoft had done a lot to ensure that there would be no harm to competition. critics however have concerns that microsoft will use its new leverage to disadvantage competitors. this is the biggest deal to take place in the gaming space ever. back to you. david: ever and forever. su live for us out of new york. obviously a stop to watch as we approach the wednesday session, cpi and before you

company is combining the number four and number five, so theoretically, they should be blessed, but lina khanhat even though it's created a hundred thousand union jobs in the last dozen years, it might be blocked but they need to do it just to keep up with costco and walmart and amazon, although amazon -- >> i mean, i know he's positive on the prospects for the deal, but he seems to be alone in that, jim. >> yes >> okay. you agree. >> yes i happen to like him very much because i think if they walk away from the deal, the stock goes up, or if they get the deal, the stock goes up. i think that's not bad but activision-blizzard changed my mind about a lot of things because the courts used the p&b standard that's the one you have to focus on >> and we -- it's true, it's, you know, you can't predict anything in this environment, it seems. >> but i detect a level of some optimism by you that there could be a return after -- >> i am in constant acquisition and merger activity. i'm hearing a much higher level of conversation, which could translate into potentially, at least, some transactions being a

1917, when the, you know, and when those -- the winter palace was stormed and finland station and lina khane all illusions between the czar and the party i'm not talking about the mencovic that's more like tanner at taint trust. >> glad you're parsing your historical analogs >> bolshevik >> markets holding 4,400 here, jim, 1% loss on the s&p. a lot of the leaders are defensive. keurig, dr pepper is in the lead, although a little bit of energy in there, halliburton, s >> there are things that are going to work, but when you see endless cuts to rails and to trucks, that's the real economy. and the real economy's not doing as well as the travel economy. someone raised norwegian cruise. you know, they took it from low teens to mid-teens that's like norwegian wood is what they're using in their head "nor "norwegian wood" is producing those numbers. >> this bird has flown >> they got to be on the haven >> well, speaking of consumer worries, a firm today, jim, i know you saw piper goes to underweight 11 at a time where we are paying attention to delinquencies and even b of a credit card data down

. >> you told me, from the very beginning, when i was saying that lina khan, ftc, could really hurt the&a, you said, jim, she can do what she wants. if the courts go against her, you might see a different environment. might we see a more positive environment for m&a if it's just tossed out >> yes, i think there's an argument that says that if judge corley agrees with microsoft in its arguments that the deal is not anti-competitive, that it will make it perhaps -- perhaps it will make the ftc more reluctant, but that's conjecture we don't know. they had brought cases that very few people expected them to bring, brought second requests when they were not anticipated and so, it's unclear, jim, i guess, but yes, there is a hope, i think, on m&a practitioners' part that should the ftc lose, it would make them a little more reluctant. >> and looking again at goldman, which is the old goldman, which you wouldn't want to be in if you do get a better m&a environment. >> speaking of which, take a look at bonds today. we are going to get vice chair barr in ten minutes talking about bank regulation

. >> the merger guidelines, we spent time on with "squawk" team had him and then we had lina khan fromhe ftc. dpl guidelines are important but wait, you were making the point that you now talk to chatgpt if they have any good questions for your upcoming guests on "mad money." >> yeah, because i don't want to lose -- sometimes they'll say, listen -- >> do you get anything interest something >> yes yes. there's usually -- if you ask for 12 questions on various issues, there's usually one or two that you haven't thought of. remember, it's a yes man >> on one side, you're saying that we haven't seen the use cases. on the other, you're giving me one right here >> i don't think people are being creative enough. >> i think an awful lot of corporations right now are in the tinkering phase of figuring out how this is going to be useful, but there seems to be little doubt that it's going to be an enormous enhancement of productivity over time >> s.a.p. told me there's like 400 uses of chatgpt. >> the dollars spent on data scientists by hedge funds right now are extraordinary, for example. >> yes

senator, it's been a while it's good to have you on with lina khan, and the ftc, i don't know if anydea how you come down on this proposed deal. and i don't know what would be your concerns or what would be your reasons for thinking that it is a good deal. just talk to me. >> well, good morning, joe it's good to be back again, if it were up to me, we wouldn't be holding the hearing or doing the inquiry right now, there is no deal. this is a delicate negotiation it ought to be conducted in private, but we're going to hold the hearing. so i want to play a constructive role i hope that the hearing offers the pga the opportunity to just describe the challenge it faces in operating and managing professional golf. it's not an easy thing and it's even more difficult when all of a sudden, you have the saudi arabia bringing in their $600 or $700 billion public investment fund, 500 times larger than the net assets of the pga and basically threaten the game of golf. the pga was, you know, really faced with an existential threat and this is what they're trying to do to preserve the game of golf

request and it is important that the company's technology is safe and the journal has it out for lina khan. losin losing doesn't get her down. they are not thrilled with it of the it almost sounded -- it rem reminded me of worrying about every little thing you see and something you cannot control which is said about people or things or anything else. you know, as adults, some of us, as adults, we want to see most things and we can make our own decisions on some stuff. do we not want to see -- >> do you regularly block people on twitter >> not any more. i blocked 6,000 in the past. >> on what grounds may i ask >> i want them to know i don't like them. >> yeah. >> now i mute them i don't want to give them the satisfaction i mute theme i see what you write -- mute them i see what you are writing i see it >> my point is a lot of people don't want to see negative things. >> i know. i know this has me he concerned i didn't realize movie studios and netflix have stuff in the can going out to next year >> not the beneficiary they are all right they have a huge library and pipeline >>> hollywood ac