mastercard of course are saying that it mastercard of course are saying thatitis mastercard of courseoing to make hay, really, because they are saying that no individual consumers have actually asked for any kind of compensation. but yes, this is going to unlock, potentially, some interesting class—action cases in the future. some interesting class-action cases in the future.— some interesting class-action cases in the future. from what i understand — cases in the future. from what i understand this _ cases in the future. from what i understand this is _ cases in the future. from what i understand this is about, - i understand this is about, mastercard's so—called interchange fee, but as the charge to the retailer for card use, often the retailer passes that on to the customer in the form of higher prices, and eu competition law, it is argued, is broken for that. for mastercard, this is its business model, isn't it? well, they have _ business model, isn't it? well, they have reduced _ business model, isn't it? well, they have reduced the - business model, isn't it? well, they have red

he's the mastercard senior advisor on a boom economy.go to mortar and brick. 760 madison avenue, taking that landmark building and building it out and it speaks to the durability of on-site retail against amazon. tell us about the presumed death of mortar and brick. >> the death of brick and mortar was so short-lived. it's back. look at the mastercard spending data and it would tell you that for the month of july, brick and mortar was up from a year ago and represented 82% of all commerce. while the digital has transformed shopping, people want on the channel product wherever they can -- omni channel product whenever and wherever they can get it, it's back end of the example you gave is a good one relative to more stores reopening. more physical stores than we have seen in years. talking about opening new stores. luxury is back. what you find is that across all levels, low-end, high-end, people are back in stores and want to experience shopping. they miss shopping in the physical store. yes, brick and mortar, digital has gone to 18% of c

mastercard will face the largest ever class-action file.nal says the claimant is seeking around 40 alien pounds in damages can represent 46 million u.k. consumers. it stems from an eight year ruling that mastercard fees were unfair. the american company calls the claim spurious, saying it is driven by lawyers. the u.s. will offer booster shots to all vaccinated adults from september 20. it is a massive expansion of a program previously limited to those with weakened immune systems, as infections from the delta variant surged. the u.s. is facing a new wave of covid infections primarily among the unvaccinated. global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. francine: let's get to your stocks to watch with joe easton from our equities team. we start with carmakers. joe: toyota is expected to announce production cuts, around 40% in the next month according to the nikkei newspaper. it is largely due to the chip shortage you mentioned

funded and many of the players issue debit cards to their consumers so it's not bad for visa and mastercard it's actually good in the sense it transitions one big transaction into four smaller transactions they get more fees because it's lots of little transactions. however, this wave is a negative for the actual credit card issuers. a threat to more of the jpmorgan, the citis of the world that are themselves issuing competitive revolving credit cards. we would expect to see more activity out of those players as this space grows in the u.s. >> and obviously it's been mentioned other players sort of in the space do you think they are acquisition targets? they have large market caps. $49 million. you explained how afterpay makes money but are these just as good if someone needs to bolster their financial technology like square is doing here with afterpay >> yeah, affirm and clarna specifically, and a whole host of smaller players, lots of them, but clarna is a strong european player and affirm the u.s. player with peloton and shopify. they are absolutely now viewed as potential acquisition ta

we at mastercard invested early on in buy now pay later capabilities and other digital tools like click to pay and token zags and the momentum that we're seeing in this space now with digital is really a validation of this investment we're also partners with both pay and square they use our services and tools, and they also issue our products so, we're looking forward to continuing to work with them as they advance their buy now pay later efforts. and we're also going to continue to invest in this space. you can look out for more announcements from us in the buy now pay later space later this year >> we'll certainly be watching linda kirkpatrick from mastercard we appreciate you being here thank you. >>> can you spot the common thread between ups, chevron, alibaba and tech ron they're all on pace to end the year higher. on the other side of this break. >>> plus choppy trading for growth after a mixed earnings report shares down more than 60% from their february high. we'll hear from the ceo about the quarter and the path to legalization here in the u.s hey lily, i need a new wireless pl

so i exited the position and i thank everyone at mastercard very much for all that they've done over the years. >> it was under a hundredstock five years ago 350 today. watch clarina in sweden as well. all right, zoom, all doom and gloom, today at least. shares hammered despite hosting the first ever billion-dollar quarter. we find out why. in your call of the day. "halftime" is back in two minutes. stick around hey, guys! they have customized solutions to help our family's special needs... hey, graduation selfie! well done! and voya stays by our side, keeping us on track for retirement... ...giving us confidence in our future... ...and in kevin's. you ready for your first day on the job? i was born ready. go get 'em, kev. well planned. well invested. well protected. voya. be confident to and through retirement. usaa is made for the safe pilots. like mac. who can come to a stop with barely a bobble. with usaa safepilot, when you drive safe... ...you can save up to 30% on your auto insurance. usaa. what you're made of, we're made for. get a quote today. so...i know you and george were

. >> right that's a good point, but looking at other potential losers, visa and mastercard both down today i don't know if it's because of the sharing arrangement between the bip now pay later. i'm not sure but that was sort of interesting to me. i think -- the jpmorgans and the bank americas, capital ones of the world and citi bank also who all have big credit card portfolios, this is a wake-up call they know that it's coming. >> right. >> talk about buy now pay later, but just not as attracted to that younger, new, not banked person >> i think merchant, too, be clear. this is friend not foe i think credit card companies are not seen as friends by merchants. they're seen as parasites. that may not be fair, by the way. talking about these. think about the relationship of buy now, pay later, almost tailoring understanding the consumer and giving the merchants a better opportunity to know their consumer, closer to alignment and that's a big deal also i think what we've seen over the last couple of weeks. earnings by learneding club last week non-convention's banks so far ahead of the l

have visa that is partnered up with circle, blockfy and coin base and gemini is launching with mastercardar. the perks are enticing no annual fees and earnings up to about 4% back whenever you buy something. and what is interesting about this is that it gives people just with a passing interest in crypto a very easy on-ramp to accruing digital coins and it is a trend that i here is about to accelerate >> that is interesting james, are you involved with crypto at all or are you participating in any type offence illary investments that may propel this area >> yeah, so we've made a couple of investments within the cryptocurrency space those include companies like analysis, which is a block chain data and ftx, which is one of the largest exchanges globally and companies like falcon x which is trying to build the prime broker equivalent of the goldman sachs and jp morgan within the crypto space. we're excited about all of the trends that are going on here. think if you look over the last year, the level of institutional adoption is as real as ever and that includes everything from the card net

strong >> without a doubt and i'm going to put on my chief market hat for lido advisers, they own mastercarddiscovery financial services in their various portfolios, discovery is one that we own in the recovery portfolio and because we believe that out there is absolute pent up demand and this is a company that managed to not only recover so far with the economy but during the pandemic expand its services >> gina sanchez throwing on her other hat there. we appreciate it there is your reopening plays. disney, discover and alcoa and if you can hear us, thank you very much. >>> we're just getting started on this special edition of "fast money. one top story down, four more to go and up next, we are tackling the robinhood rally. a wild, crazy week for this knew by stock and we'll name some names on what could be the next big retail plays for you 'rba rhtft twhere. wee ckig aerhis. millions of vulnerable americans struggle to get reliable transportation to their medical appointments. that's why i started medhaul. citi launched the impact fund to invest in both women and entrepreneurs of color lik

morgan chase and mastercard. happening. because this was a lifeline for many softs workers during the pandemic. absolutely. especially during covid for example, it wasn't safe to send your children to daycare. so somebody others are only fans and allowed to support themselves on a safe platform and raise her kids at home without risking covid. what home without risking covid. what oortion of home without risking covid. what portion of your — home without risking covid. what portion of your income _ home without risking covid. what portion of your income will come from the site, what percentage? rule from the site, what percentage? ilia: personally, from the site, what percentage? ic’iéi personally, only from the site, what percentage? ma: personally, only fans from the site, what percentage? me: personally, only fans has become about 80% of my total income. about! about 8096 of my total income. and ou can about 8096 of my total income. and you can do — about 8096 of my total income. and you can do this _ about 80

he covers the buy now pay later company affirm, mastercard and visa we talked to a few weeks ago, but here is my question, it is not like the traditional players like jpmorgan don't have these products jpmorgan launched its own buy now pay later. i believe last year. has it gained any traction why aren't they really part of this conversation? >> i think that's -- you're hitting the nail on the head this is the issue. some of those legacy guys, you know, like the so-called guys that -- the old world, they don't really understand the pause needed to get these customers. you talk about the gen z and the young millennials. they're combining rap music as part of their cash app they bought jay-z's title. they're creating a ecosystem that is more than payments, more than a solution, it is the buzz and the appeal and it makes it really sexy and that's why people want to use it. that is the story of square. they make it -- they make people want to use it, not just having the solution is not enough >> so, dan, do you think any of those legacy players were looking at an afterpay or could be look

meantime mastercard is phasing out the use of those magnetic strips on its credit and debit cards overt decade as it shifts towards more secure methods such as chips and contactless payments. the magnetic strip technology dates back to the 1960s. it's that old. mastercard says the transition will begin in europe in 2024 where chip cards are already pretty widely used. and in 2027 here in the u.s., where adoption has been slower. meantime nissan is shifting gears and heading backwards. it's unveiling the latest generation of z sports cars that are really a blast from the past. the new z is going to come with a gas powered engine and a manual transmission. executives say that's the way fans want it. a version with an automatic transmission will be offered. the new z will go on sale in the u.s. next spring. nissan has said it will offer electric versions of all of its models by the early part of the decade and joined other automakers in endorsing the biden administration's goal of boosting electric vehicles to -- up to half of new car sales by 2030. >> wow. >> if you're a manual transmiss

mastercard has announced its magnetic stripe is reaching its expiration date. company will be the first to phase out the stripe. the company says the stripes are not used much anymore, replaced by magnetic chips and antennas. the swipe showed up in the 1960's and led to the widespread acceptance of credit cards. >> contacts lists -- is the way to go these days. ama: santa clara county received a boost today. the side of the old dick's dic's supermarket. path ventures. developments such as google and apple are also part of this public-private partnership. >> it takes many different components to develop these types of projects. they often take a lot of time. >> the complex>> the complex>> m 4th street, is set to open at the end of next year. larry: cycling at mount diablo will get safer. the new state budget includes $1.5 million for up to 77 turnouts, which allow cyclists to pull off the road and let cars pass by. cycling enthusiasts gave credit posthumously to 88-year-old joe shammy, who was hit and killed in april. he wrote -- he advocated for those turnouts.

financials to tuitions mastercard, paypal and many others are investing heavily in it, expanding accessomers around the world. so, while coin trends higher, the question remains -- will it replace traditional currencies in the future? we ring in our panel in in a moment, but let's recap bitcoin's history. it was created in 2008 by an unknown person or group of people under the name of satoshi nakimoto. it began circulating a year later as an open source software, which means everybody could access the blueprint and make their own coin. it was intended for people to send money online and avoid the global banking system. value fluctuated sharply as people experimented on how to use it now, bitcoin -- to use it. now, bitcoin can be used to buy property, electronics, drugs, without leaving a trace. ♪ let's bring in our guests. in new york, john biggs is a crypto journalist and author of "black cats: misfits, criminals and scammers in the. electronic age" we are also joined by the director of a financial res earch firm. we have blaine goodman in london, author and former business corresponde

delta airlines even announce that will accept visa mastercard. and even apple pay for oxygen masks right now. they also got the cdc to name the next coven, barry, and spirit airlines. in other news, the f. b, i surveilled activists bank roles hit man was tied to the murder of martin luther king and regularly entrapped, the mentally ill and deficient to fabricate terror threats and continue to justify their own existence. but there also growth in f. b, i agent used photos of female office staff as bait in 6 trafficking things. yuck. well, i guess this is how you have to get the job done. that female body inspector headquarters. that's where you got to do. you can't catch any criminals without doing a little misconduct yourself, and you can talk to anyone at the f. b i offices before. they've committed their morning crime. a special agent asks support staff to provide provocative photos of themselves and not to tell anyone including their supervisors about the undercover operations. he only gave some details about the operations i alongside my wife

act as a present of mechanism to highlight urgency of the threat civilians including from a side mastercard, of religious and ethnic minorities jets to goes indication and target the feelings of human dice, offenders to keep victims and civilians center stage one on pitts towards the human rights and humanitarian crisis. so about the stablished facts identified proper shooters. preserve evidence with a view to ensuring accountability. the proposed remedies for victims and effect of prevention mechanisms was the president my family and i thought that she gene fox, but when i was a child expect skipping fun to make them fall a bunch of fishing. 24 are so years later, millions of funds are looking for a way out of us. i don't see a future here. we cannot wait and watch the history to put repeating itself. i apologize if i'm mighty much the counselor lent it, but that there are less than i speak to exhaust that and then warning, hoping that this time speaking for the forum will make a difference. i found that watching atmosphere and the fair, if this council in the international community will

cementing its placing global lockets as the most preferred digital asset financial institutions, mastercard pay, pal, and many others. and investing heavily in it, slowly expanding access to customers all around the world. so while but coin continues to try and hire the question remains will it's replace traditional currencies in the future. we're going to bring in our panel in a moment. but 1st, let's have a quick recap of big coins, short history. it was created in 2008 by an unknown person or group of people under the name of satel. she knock a motto, it began circulating a year later as an open source software, which means anyone could access its blueprint and make their own type of coin. the digital currency was intended for people to send money on line and avoid the global banking system. but the value fluctuated. sharpie, as people experimented and how to use it now, but kind can be used to buy anything from property electric cars and even drugs and weapons without leaving a trace. ah ok, let's bring in our guests now in new york, a good john big's he's a crypto journalist. he's also

the case stems from an eu ruling that mastercard fees were unfair and a breach of competition law. american company says the claims are serious and says they are being driven by lawyers. global news 24 hours a day and on bloombergquinttake -- bloomberg quicktake. manus: coming up on the show, president joe biden says chaos in afghanistan was unavoidable. -- up next, the latest on afghanistan. ♪ >> the chip shortage, already the action has been taken by our buyers, and this will also go away. if this will go away in a short term, i don't think so. if it will continue in long-term, i don't think so, but it will continue in the short term. manus: nissan's coo talking about supply issues. we understand toyota is going to cut global output by 40%. they say it is the delta rising across southeast asia. 900,000 was the number they announced in july. that gives you around 500,000 cards. delta has collapsed production numbers for toyota. delta is bottlenecking the world. what impact will delta have on the fed? dani: absolutely. mentioning fomc minutes before it even had an impact on the chi

world's largest porn website, for complicity for child exploitation, rape and sex trafficking, mastercardbusiness with porn hub and there are lawsuits launched against the company, four class-actions, 34 victims, 14 were children, but student visa for knowingly profiting the sex trafficking venture. this is caused the credit card companies to reassess their liability and whether to do business with the sites and including that. laura: why would credit card companies want to be part of the site that facilitates transactions the exploit sexually children and that is what ends up happening whether it is by chance or glitches in their platform but this is a huge problem and it is against every country's law so why would they do it? pure cash? >> this is financially driven decisions on all accounts but credit card companies what they realize with the porn hub fiasco is their liability is huge if they do business with sites engaged in reckless moderation policies. what they did recently was they and acted policies that they will not allow porn sites to do business without rigorous moderation ag

wait, that's american express or mastercard bertha, thank you. >>> coming up next, we hit housing andey shortage in one area of the market made one company very happy we'll talk about it and introduce you to them next sofi is a one-stop shop for your finances designed to work better together. save, spend, borrow, invest, and earn cash back rewards, all in one app. that's how you get your money right with sofi. ♪ someone once told me, that i should get used to people staring. so i did. it's okay, you can stare. when you're a two-time gold medalist, it comes with the territory. does your vitamin c last twenty-four hours? only nature's bounty does. new immune twenty-four hour plus has longer lasting vitamin c. plus, herbal and other immune superstars. only from nature's bounty. >>> will the everything rally keep rolling today crypto up again as the senate seeks to solidify the $1 trillion roads, rails and bridges spending bill today. >>> covid concerns remaining on the forefront of wall street and washington's radar this as rising cases of another respiratory illness among kids is creati

have been like a credit card, you have been preapproved for gold card, the american express so the mastercarder. and the canadian say, thank you but no thank you. we don't really want it so americans actually try to conquer them and to back and benedict arnold comes close but fails. so the religious diversity is one of the things that's going to make it hard for the americans to join and there are 13 different colonies found at different times for different reasons in virginia is basically about making him money in massachusetts is about religious freedoms and so when my story begins in 1760, not americans of their virginia and they come south carolina and massachusetts man. but because the british treat them all kindrs of pretty badly, through this, the top themselves and to begin americans and basically say okay it was about diversity but you know what,, that can be a strength rather than a week it entered weakness. and it can be a strength. but the fact that at the time, not very many people paid attention, the main argument was the geostrategic was from washington and hamilton and frankli

. >>> the uk court says the class action lawsuit against mastercard can move forward. decision by the competition appeal tribunal which previously rejected the lawsuit will now allow it to proceed. that suit stems from the 2007 european commission ruling that interchange fees charged to retailers for card use and passed on to consumers in the form of higher prices broke eu competition law. that will be an interesting settlement, brian. >> it will not hitting the stock right now. up a tick. watching ma. bertha, thank you. >>> let's get back to the markets and your money the selling is poised to continue and may be the end of the easy money party looking like it will start sooner rather than later let's talk more about this and why there is one sector in the market that is still looking good emily hill founding partner at bowersock. emily, is there anything on the macro level that can point to why? maybe it is august or taper or why we have seen more selling the last few days? >> well, you know, i think there was a correction that we had to expect at some point after the

you have been preapproved for a gold card with american express or mastercard or whatever. you can say thanks but no thanks, we don't really want. americans try to conquer and benedict arnold comes close but fails. so religious diversity is one of the things that's going to make it hard for americans to join the party 13 different colonies founded at different times, for different reasons. virginia is basically about making money massachusetts is about religious freedom. so when my story begins in 1760 they are not americans. they are virginians and south carolinians and massachusetts and men. but because of newspapers, because the british treat them all pretty badly with the stamp act and later the coercive act through these papers they talk themselves into being americans and basically say to themselves okay there's a lot of religious diversity. but that can be a strength rather than a weakness. that can be a strength. in fact at the time not many people paid attention for the main argument was a geostrategic one of washington, hamilton, their idea. religion is going to b

if you look at the way zvisa and mastercard have performed, fintech purely defined, whatever you wanthat, has outperformed the traditional viva mastercard rails even when we're talking about a comeback in spending levels there's a sense that stuff's going on outside the usual players, whether, in fact, this is requesting to be -- you know, make a big difference or not or whatever but it is kind of amazing coming in a week that we were talking on friday when the news broke that a firm has been viewed as a shadow peloton play because so much of the firm's business was financing those bikes, and they traded in that way, and peloton had disappointment in their outlook last week, and then this comes along and kind of banishes all those concerns obviously in theory it totally diversifies the business away. >> it was square, right, the australian company that's competitor with firm obviously that deal is still pending. >> absolutely. and you know, the bigger question, too, is what does it do -- i mean, because the whole pitch is it's very transparent in terms of what you will pay over the li

and it is not just the action, but look at how mastercard and visa are reacting to this news those stocksst challenged by these companies becoming more mainstream would you note that paypal has a version of this pay in four. so installment payments are the new hotness and i think that credit card companies will be somewhat threatened by their arrival on the the scene it is a very, very hot space >> very, very interesting and sara mentioned affirm up 15% and max jim will join us later in the show and meantime, crude prices taking a dive and that is weighing on some of the energy names. pippa has a look at that for us. >> four straight positive months but starting august on a down note wti and brent dipping more than 3% amid fears that jump in covid cases will dent demand just as opec boosts production weak economy data out of the u.s. and china also hitting prices here. energy stocks were higher earlier in the session but giving back some of the gains into the close the move following a drop in july which snapped the sector's longest monthly winning streak in a decade. back to you. >> pipp

you've been preapproved lockhart, american express or mastercard or whatever, they say thanks but noconquer them benedict arnold comes close but fails so religious diversity is one of the things that's going to make it hard for americans join or die. thirteen different colonies found at different times for different reasons, virginia is basically about making money in massachusetts is about religious freedom so when my story begins in 1760, they are not american, they are preaching and healthcare learning in massachusetts men but because of newspapers, because british treats them pretty badly, they talk themselves into being american and basically say to themselves okay, there's a lot of religious diversity but that can be a strength rather than weakness and that's where madison comes at, religiousus diversity, at the time, not very many people paid attention, the main argument was geostrategic of washington and hamilton and franklin, the joint or die idea but religion will be a stumbling block because -- here's one final thing, i think -- i don't know if i t told you, the two places

you are like aou credit card you been preapproved for gold card with the american express in the mastercard or whatever. in the canadian say thanks but no thanks into americans tried to conquer and then if they come close but fail, religious diversity is one of the things that will make it hard for americans to join or die, 13 different colonies found at different times for different reasons, virginia is basically about making money in massachusetts is basically about religious freedom so when my story begins in 1760 they are not americans or virginians in south carolinians in massachusetts when but because of newspapers and british to treat them all pretty badly in the course of acts three newspapers talk themselves into being americans and basically save themselves there's a lot of religious diversity but that can be a strength rather than a weakness thoughts were t madison spent the religious diversity can be a strength and at the time and of washington and hamilton and franklin to join or die idea. it's going to be assembled in block and here's one final thing i don't know if i told you

their guidance about q3 volume also heard sort of ancillary comments from companies like mastercard saying that they are seeing a decline at least a sequential decline in people using credit to buy crypto look back and think q1 and q2 the peak in terms of volume? >> it's yin's guess. crypto always volatile something like a dozen or more 90% drawdowns in crypto. that's what we mean. if you're an old hand, you're also a diamond hand. you're going to hold on to it knowing that there's going to be extreme volatility, but one thing i think is happening is that we're realizing that this era of just speculation and buy and hold, it's coming to an end. you know coinbase remained more than 100 million in net income just from prescription rev and almost doubled as well. this isn't just a transaction platform a lot of people say, oh, it's a trading platform it's actually platform software like microsoft or apple, and nobody else is even close. a lot of this is actually driven by defi. crypto holders realizing they shouldn't just sit and wait for the number to go up. they want yield. it's not enough t

but the mastercard spending numbers for july were really good for apparel up 80% and department storesjuly 2021 compared to july of 2020 where we were still dealing hefty in the pandemic but that is all on in store com combine so perhaps we're see some strong reports but it may not be big enough. we're going to dig into a few other names. so we want to play our game. >> let's play a game. >> shop it or drop it. gentlemen, are you in, because we started with the ladies lets a start with target up 27% since last reporting. so tim, are you shopping it or dropping it. >> target is doing everything right. the frequency of the store business by customers and the same day service and at adoption is unbelievable. my biggest issue with target is really on a reveli -- a relative basis not only with waulmart, i is a peer and there are better places to go and for that reason i'm out. >> oh, you're out. karen, what are you thinking >> i'm in. >> i'm dropping it i went shark tank and who am i kidding, i dropped it. i play the game right. i picked the right show. >> okay, mr. wonderful i'm long i lik

this is like any membership, you get this preapproved for card rated the american express or mastercardever. because the canadian say, thank you but no thank you. they don't really wanted so americans try to actually conquer and benedict arnold arnold comes close but failed so religious diversity is one of the things that's going to make it hard for them to join or die and there's 13 different colonies founded at different times and for different reasons. virginia is basically about making money and massachusetts is basically about religious freedom read some of my story begins in 1760, they're not american. they are from virginia and south carolina and massachusetts men. because newspapers the british try to treat them all pretty badly, they step back. in the newspapers, they talk to themselves into being american and basically say to themselves, okay, there's a lot of religious diversity but you know what, that can't be a strength rather than a week is network medicine comes in and the religious diversity can be a strike. and at the time, another many people paid attention the main ar

mastercard is eliminating magnetic stripes on credit and debit cards over the next ten years. alternatives to the old fashioned swipe. ♪ >>> look at all those people. garth brooks is putting his tour on hold canceling the next five stops because of coronavirus just days after performing for 90,000 people in nebraska. the country superstar says, quote, i realized we are still in the fight and i must do my part. >> a picture says a thousand words. >>> turning back now to our top story, growing desperation for people still trying to escape afghanistan. crowds of people rushed to the north gate of kabul airport scrambling along the walls there. crowds passing young children, anything to spare them a life under the taliban. >> what is your message to america? >> our message to america, we helped the america people, so that is their job to help right now here. >> customs and border protection sent additional personnel to qatar to help process people leaving afghanistan en route to the u.s. as the taliban retake afghanistan, much of their political leadership is heading there from do

you think this will enable affirm to leapfrog ahead of all of the other players, whether it is mastercard or klarna that are offering similar services or this will drive adoption of this format as a way that people buy things >> yeah, it is driving adoption. buy now, pay later if you look at australia, you're seeing an inflexion point in credit credit is starting to trend downward buy now, pay later is taking over this is driving adoption and consumer habits. we in the survey, in the empirical evidence we have done, 46% of people reported about 46% of volumes are on using debit cards. a lot of the debit cards are where buy now, pay later comes from so i think this opens up the opportunity to use credit for people that actually didn't have the chance to use credit before. and that's why it is so important. it is getting people the adoption or the ability to buy on credit, that they would normally not do. >> dan, it is deirdre. amazon has kind of already been doing this itself. through installment plans, through a credit card. does this surprise you that amazon isn't now sort of branding un

about the international travel place people are really feeling more emboldened to me that means mastercard and v, which is visa, which have been severely beaten up after reporting fantastic quarters remember, having a keen eye for the obvious makes you a junior warren buffett in this market. you want the best buy the news story? i think the airlines and the cruise lines, shockers, the pfizer approval seems to have ignited them airlines, southwest, please, luv, it's incredibly beaten up it's the best run with the best routes buy it here. next up, the cyclicals now, i guess under some pretext they were the big winners. the world's reopening, we buy the cyclicals especially if they're -- markets seems to agree in the morning those stocks took off like jets on the carrier honeywell gave up point at the end of the day, that's when i would swoop and pick up tomorrow don't laugh, this morning oil was up about a buck 70 when the news about pfizer came out, do you know that oil quickly doubled its gain and the oil stocks then took off you have to admire the gains of the two biggest we've been talki

a credit card, you get this, you've been pre approved for a gold card with american express or mastercard or whatever and the canadians, they said thanks, but no thanks and we don't really want-- so americans try to actually conquer montreal and quebec and benedict arnold comes close, but failed. so religious diversity is one of the things that makes it hard for americans to join or die. 13 colcolonies, founded for different reasons and virginia is basically about making money and massachusetts is basically about religious freedom. so when my story begins in 1760, they're not americans, they're virginians and south carolinians and massachusetts men, but because of the newspapers, the british treat them all kind of badly with the stamp act and later the coersive act, through the newspapers they talk themselves into being americans and basically say to themselves, okay. there's a lot of religious diversity, but you know what? that can be a strength rather than weakness and that's where madison comes in religious diversity with be a strength. and many people didn't pay attention. but the geo

amazing businesses look at the neck level, the jp morgan, home depot, united health care, visa, mastercard, awesome businesses if you ask anyone on the panel they'd say over the next one year, three year, five year, all those businesses grow. they all can allocate capital asmar. strong balance sheets. if you compare that to owning a 10-year, whether at 19.12, 1.29 or 2% which is hopefully where it will be or higher you want to own equities is it as easy as it was? no but it's heard to be bearish >> but it sounds like you are saying maybe the best of the gains are behind us because of what lies ahead, and that even, you know, higher rates can be good for stocks. but there may be an initial reaction to an actual taper. be and some of the liquidity stimulated this gets pulled out of the system? >> forgetting what the individual reaction to the taper would be because i think your framing is accurate. but if you look forward i think you want to own businesses i think the economy -- and we can talk about this. i see it through the lens of mgm where i'm on the board mgm reported financial results

. >> we begin, wilfred, today, with the consumers new data from mastercard spending, finding that july retail sales jumped herenearly % joining us now exclusively with a look at what he is seeing from the consumer, ceo of nike, jon do d donahoe. clearly nike weathered covid-19 bers than most what would you say is your biggest takeaway. >> i think the important of having agility, the importance to respond to whatever conditions the world has dealt us in our case, we have tried to stay really connected to the consumer over the past 18 months, and we know that the consumers wants to get what they want when they want it, how they want it, so our digital advantage has really served us well throughout the pandemic, having the incredible nike mobile app, nike run club, training club, when we were all working out at home, and we have continued our focus on innovation i'm coming to you right now from our incredible innovation building that's just opening we've really tried to continue to release innovative production throughout this period our focus has been on serving the consumer, trying to s

subsector worth highlighting here, based on some of the news of the last couple days, visa and mastercard have been synonymous will this bulletsproof due oply. now, what would also be continues to go higher like this were stocks that had traded along with these, whether it's msci, that is righter communications, a lot of the big network platform type of plays or just in general, a lot of the development on the payment side, going outside of the old rails just worth noting they had premium valuations that seemed a bit compressed, guys. >> back to your first point how the market is still moving higher, but the leadership changes. when you have a leadership day like today, where it's the megacap tech pushing higher, does it mean a little less because they are worth so much and weighted in these different indices than if you had a broad-based stock rally with a number of different sectors moving higher? >> traditionally, yeah, they want to see broad participation, but to me, it more just said, it's a different character of the market ride now. parts of the market can rest, while others reboun

long-term i love everyone in the payment space, visa, mastercard, square, love them all paypal.n us a chance to buy them at about a 10% discount from their all-time high. when delta finally is dealt with and retail sales as you know which have dropped just a touch pick back up to the upside, square is going to be a place that you want to be in and they're already 130% up from revenues from last year at this quarter. so this is the stock with a lot of upside. we can buy on a pullback. stuart: dr barbiturate ton is the king of buying the dip. he has done very well here. see you soon. i have a little more on square. the ceo of square is jack dorsey, in case you didn't know, the twitter guy. dorsey says he is getting into bitcoin mining. tell me more. lauren: he is teaming up with a startup called compass mining to mine bitcoin for himself. this is a big pr push if you ask me for compass mining when dorsey clearly has enough money to fund his own equipment to do this. the cost of the equipment for compass starts about $8,000 but the profit is just like $30 a day? so it is very small

inflation so clothing and footwear sales will really be explosive for back-to-school which in total mastercardee retail be the weak spot with the quarterly earnings reporting season? tell us how it will impact, you know, business in general and the products that we're trying to buy. >> maria, yes on retail short shortfall, wayfair. ety and ebay earlier today reported sales shortfalls. in terms of kathy hochul, so far this month i traveled over 2500 miles within the borders of new york state from montague and north and checking out the retail and the wasteland in new york state it's from what you were talking about so well an hour earlier, it's crime, it's concern about safety, it's high tolls, it's high taxes, and kathy hochul, i'm an independent, kathy hochul was mentored by daniel patrick moynihan. she and husband bill are from buffalo where i'm from, very practical, very pragmatic, very competent. that's going to help turn around retail for new york state. and with new york state retail turning around, the rest of the country can too. maria: well, i'm glad that you expected the dots because

johnson & johnson, mastercard, coca-cola, marriott hotels, they all have programs for their employeesrse that said in part to be less white is to be less oppressive, less arrogant, less certain. ah, but dr. frank dobin, a professor of social sciences at harvard university, he says that bias and diversity train something basically ineffective. even when it has a positive effective it is usually quickly forgotten. companies will respond to public pressure by simply putting details about training on website, release a pr statement to be done with it. not only, stu, is it divisive in my opinion, telling people how to think. perhaps the better question, does this inclusion include conservative voices? are conservative voices tolerated? i would argue not one bit. stuart: 73-year-old white christian males, are we okay? i don't know. ashley: no. stuart: watch out, watch out. good stuff, ashley, great report. thank you very much, sir. ashley: sure, thank you. stuart: the dow is moving up a bit. could that be a new all-time high, intraday high, 35,446? you're up 80 points now. nasdaq up just th

the people that can come in and disrupt it and visa and mastercard and american express and a lot ofof money. maria: shana, let's get to the macro story. we have the jobs report out this week, the july jobs report out on friday, the expectations call for 900,000 jobs added to the economy in the month of july, they're expecting the unemployment rate to tick down to 5.7%. your thoughts? i know you said employment is likely to be volatile until federal pandemic benefits expire in september. is this going to be a market mover this friday? >> it could be. i think the bigger question is if it is a really good jobs number, will that prompt the federal reserve to change some of the policy in terms of tapering. they have a two-pronged policy focus which is inflation and employment, one of the things that chairman powell has said was that employment is still a concern so he's willing to let inflation run a little hot in order to make employment the key he focus for the fed. now, if the employment numbers come out stronger than expected, is this going to be something that might drive the fed, o

some of the mastercard trackers show that in line with about 10, 11%, if you look at online and in-storet see this number popping up anywhere yet, andrew, on any of the wire services we do think that the control number, which is plugged in to bigger data up the data food chain, so to speak, will also be negative so, two out of three expected to have a minus sign. and here it comes. and, well, it looks like they were correct minus 1.1% that really was the whisper number of many this is really the first retail sales number where the delta impact is maybe most obvious, just like the big drop in michigan still don't see x autos, x gas or the sales group number. what are yields doing with that f first kind of shobing minus 1.1? it's not the weakest we've seen. we had minus 1.7 in may. the point is that we really want to see how much impact there is. all right. the control number is out. and that's a biggie. down 1%. we're expecting one-fifth of that down 1% is pretty large, until you look at the recent trends, of course. the recent trend was up 1.1, prior to that, just like headline number, 1