it went on to become one of the world's most expensive vaccines earning merck billions of dollars.to save millions of lives. rohit: this vaccine has been incredibly profitable to the companies that have sold it. but also, then, incredibly difficult for people to access. cervical cancer is one of the leading causes of death for women in developing countries. i think approximately 270,000 women die each year and so the unaffordability and the lack of availability of this vaccine, whether due to high prices or insufficient manufacturing capacity, it leads to this direct consequence of large numbers of women sort of continuing to be vulnerable to developing hpv and eventually to cervical cancer. ian: look, i have to be honest and say that i realized that big pharma doesn't exist for any purpose other than to make money for its shareholders and if we didn't have big pharma, we wouldn't have a papillomavirus vaccine. it's very easy to criticize big pharma, but to be quite blunt until someone comes up with an alternative, we have to go with what we've got. i think that what we've learned

, the oelt seattle generals, the merck announcement was very bad. >> yeah. keith had a couple of phase-three failures, this on prostate cancer. >> i was shocked at this i thought the key tree would work what do i know i don't even play a doctor on tv they had a very good series of things today in the report they are a very fine company merck should be down more because of the other >> we've been talking about it lately and about two-thirds of the way into earnings season how those who have missed have not been punished as much as before. match is going to blow up. >> it's really interesting because it's almost everything everything kind of went wrong with match i look at the numbers, and i think, wow, things are open, people are going out again >> revenue miss. revenue per user >> new division head >> yep the guide below. they say we need to give our team some time to start to develop execution. >> deceleration revenue, slowdown in hiring, negative free cash flow, tinder not doing that well, big impairment. i could light a match under that thing. that was ju

whole thousands of companies out there, they are the big ones most people have heard of like pfizer or merck. those are some of the big companies that have been around for a long time in some cases hundreds of years, you see a lot of commercials on tv for prescription drugs. a lot of the new drugs, the new treatments that we enjoy or help us with diseases where there wasn't an effective treatment those are often developed at start up companies that you have never heard of. eventually from public investors and those companies operate at a phosphor for avon time because they are spending a lot but they don't have drugs approved by the fda to generate any money. so those unprofitable companies that are supported by investors, those are the ones where innovation is happening. because the fda, the drug approval process is so expensive in many cases, they need a lot of money from investors and others to support their work. what happens is these larger companies like pfizer they come in and of in at the last minute when the drug is about to get approved and they will do the last bit to get it over

. >> what about a company like merck? mrk? >> we like merck they have free cash flow yield of 6%.ing from the dividend 10% a year over the last three years keytruda is a cash cow it is a great performer up 1% y 17% year to date compare to health care at 20 times. there is still room to go there. >> lizzie evans. coming from the state of indiana. we appreciate it thanks for getting up early. see you here on cnbc take care. with that, we wrap up the "worldwide exchange. thank you, lizzie. we have more to do we will not do it until monday have a great friday and great weekend. see you on monday morning. "squawk box" is next take care. dad, we got this. we got this. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones when hurting feet make you want to stop, it's dr. scholl's time. our custom fit orthotics use foot mapping technology to give you personalized support, for all-day pain relief. find your relief in store or online. >>> good morning waiting on the fed chairman jay powell set to deliver a highly anticipated speech in just abou

in terms of how disruptive it could be, merck could already have to reroute three vessels and they areitoring 11 more, adding to delays and costs as it looks like it may take 24 days to clear the backlog. fourth officials are saying pork is operating at less than 10% capacity. a force, disruption is the whole point of a strike. unions are here to send a message. they have already rejected one settlement that would have paid less than the inflation we are seeing here in the u.k. and the bosses at the fort say that the pay rise is to cover the -- at the port say that the pay rises to cover the whole of the year and that they will reissue -- revisit next year. in the meantime, there is the risk that the workers through a wage hike spiral contribute to the inflation and they are trying to shield their members from it through the strike. bloomberg news. kriti: that is of course a conversation taking place around the world. labor strikes have been issued with companies like dear -- starbucks and even the port of los angeles. we have talked about energy prices, food prices, shelter prices. wh

we are looking for hedges, merck, we think health care is a great hedge. pessimistic of the market, merck we think is the best-of-breed when it comes to health care. paypal, aday. if you asked me what my favorite stock today, put to work adyey. cash king, digit call payments out of europe. some customers are the biggest names, facebook, microsoft. that is a name we feel very strongly with. like the levels and we put money to work. charles: man, you have been so spot on. really everyone is saying this kid david is on the money. i like you made a bold move. you're sharing it with us. we're in it together. david, we'll be watching appreciate it so much. >> thank you, brother. charles: my take away on the true cost of the green utopia and really be careful what you wish for. ♪. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco

army cynical for merck, developed this but supplies are limited. the japanese government only allocates the drug in some places. they have been able to produce more and those pills will be on the market. the government approved this in december. it is the first pill for patients with mild symptoms. >>> the port city in northern japan is famous for seafood. now it will be known for its unusual jewelry made by a local woman. we have this report. >> reporter: a range of handmade earrings that are perfect for the summer. they look like white gems, but in fact they come from fish. known as the -- or years down, it is an organ that helps animals maintain --. these pieces are created by -- who runs a traditional gift house in the fishing port of --. she began making them two years ago. >> i hope the people who come across my handmade jewelry will come and visit and try eating the fish here. >> since the great japan earthquake it has been rebooted, but -- have not regained their popularity. she wants to put her hometown and it seafood back on the map. that

. >> later on good morning merck, she describes how her shoes possibly safety her life. >>> people inafter another deadly alligator attack. >> reporter: this morning, concerns about what is in the water in south carolina, a shocking and deadly alligator attack is under investigation inside the gated community in hilton head. >> at lot of us have seen many alligators and maybe have become complacent. >> reporter: an 88-year-old woman was gardening near the pond and slipped into the water. >> when we responded, that's what we observed. the alligator was basically holding her hostage. >> reporter: the nearly ten-foot gator was captured and euthanized. it is the fourth deadly alligator attack in e u. in soun florida. florida's fish and wildlife conservation commissions says alligator attacks are relatively rare. but shark attacks have been on the rise. one attack, a boy snorkeling in the florida keys on saturday. >> he's been a great older cousin to me and i feel really sad that he got bit by a shark. >> reporter: 10-year-old james son survived. his family flagging down a good samaritan b

the journal had been reporting quite frequently on the imminence almost of a deal to be acquired by merckould be one of the larger transactions haven't heard much i don't have anything to share in terms of where that stands, but i would note i think this was late friday, i believe, or on friday, didn't get a lot of note that this arbitration with daiichi over a 2008 collaboration agreement, they did record the arbitrator ruled in favor of daiichi citing statute of limitations and a disagreement on interpretation of the contract. this analyst and others i think also believe that that doesn't necessarily stand in the way of a potential deal, but it was something they wanted to get resolved, if you remember, in some of the reporting, before they potentially actually agreed to a transaction and the stock sold off on that >> the doctor when he was on "mad money," has indicated some formulations that really have to do with any cancer, any form which would be incredible for merck. but the amount of money from merck, it would question their balance sheet. >> right >> that's the problem. could be

monday night, cloud, best, merck and outbreaks of rain pushing estimates, some heavy rain in places,rm and muggy night for many, temperatures between 1a and 18 degrees, turning quite breezy as well. tuesday will be quite a windy day, rain event in some but not fold, much of it clearing by wednesday, turning coolerfor wednesday, turning cooler for the wednesday, turning coolerfor the end of the week. this is bbc news. welcome, if you're watching here in the uk or around the globe. i'm david eades. our top stories: england's women footballers win their first ever major tournament. they beat germany 2—1 in the european championship final at wembley. chanting. cheering. it's a first major football title for any english national side for nearly 60 years. it's like a moment in history. like, hopefully, it's going to bring massive change for girls and women in sport. absolutely brilliant.

monday night, cloud, best, merck and outbreaks of rain pushing estimates, some heavy rain in places,between 14 and 18 degrees, turning quite breezy as well. tuesday will be quite a windy day, rain event in some but not fold, much of it clearing by wednesday, turning cooler for the end of the week. the darker colours show where the wettest weather will be up to the north—west, the lighter colours suggesting that very little rain will fall in the south, where we really do need it. for monday morning, this ridge of high pressure in charge of our weather, so a mainly dry start to the week. one or two sharp showers from this cloud that'll be sitting in place across parts of eastern england. that should tend to clear. then, lots of sunshine, but then we see cloud rolling in from the west, bringing rain into northern ireland around lunchtime and then into south west scotland, west wales, far south west of england, across the isle of man, maybe into north west england later in the day. those are your afternoon temperatures. 18 or 19 for glasgow and belfast, 27 degrees in london. still some w

ending the practice and switching to a majority vote system political analyst and commented or nickel merck, which believes that, along with the disagreements over how best to support ukraine, shows the inability of the system to solve global crises. the only thing that these are, these weapons are doing, killing people, killing everybody, fighting in ukraine, including ukrainians. and definitely they're not making the situation better for anybody living in ukraine. this is definitely not the solution. it hasn't worked from the beginning. it's not working now and it's only causing debt, and it's making our economic pain for this and world thing. so this is showing that the european union is not at all democratic institutions. the european union is incapable of managing major crisis. as we've seen these past years, they still think those who are at the head of the european union, that there are no problems that they're manage it and managing everything seamlessly. and instead of taking a full back and taking a look at the situation and trying to find solutions there, thing, but will make mor

i concluded that as timed it and america's longest war is time for merck and troops to come home. the troops began to pack their bags. there was no need to rush after all us intelligence had no doubts. there was time to spare to book it, come under pressure from the taliban in as little as 30 days and full to the extremist group within 90 days. but as the taliban advance showed no sign of abating washington began to realize it had not 90. not 30, but only a handful of days before the taliban would be at the capital's gates. on august, 15th cabal became the seat of power for these law mach emerett, of afghanistan. ah, before they knew what the americans were forced into the awkward position of having to cooperate with their decades old enemies to bring their people home. and this time they had reason not to drag their feet 1st on evacuation. we agreed that we will continue to close our close corporation to get people out as efficiently and safely as possible. we are currently on a pace to finish by august the 31st millions of dollars of military equipment left behind collaborators

merck's cfo, marcus kuhnert. let's get to bank of england.are waiting for this jumbo weight -- rate hike. the growing risk of recession, lizzie, take it away, what do we expect? good morning. >> we are expecting a 50 basis point hike from the bank of england. on top of that, we are expecting more information about quantitative easing. the bank of england governor has already said we are going to get 50 to 100 billion pounds of quantitative tightening in the first year. what we are expecting today is more detail on the pace of that tightening and are we going to go out as we came into this in terms of across the curve. i point out to ironies. the bank of england paid over face value for these historically. as they are sold, the treasuries are going to have to cover the boe. this government cash cow is becoming a drain on the public finances. at the same time, the next trimester, liz trust likely to be, is also wanting to cut taxes, which means the boe is going to have to pull opposite levers -- to levers in opposite directions at the same time

monday night, cloud, best, merck and outbreaks of rain pushing estimates, some heavy rain in places,uite breezy as well. tuesday will be quite a windy day, rain event in some but not fold, much of it clearing by wednesday, turning cooler for the end of the week. the darker colours show where the wettest weather will be up to the north—west, the lighter colours suggesting that very little rain will fall in the south, where we really do need it. for monday morning, this ridge of high pressure in charge of our weather, so a mainly dry start to the week. one or two sharp showers from this cloud that'll be sitting in place across parts of eastern england. that should tend to clear. then, lots of sunshine, but then we see cloud rolling in from the west, bringing rain into northern ireland around lunchtime and then into south west scotland, west wales, far south west of england, across the isle of man, maybe into north west england later in the day. those are your afternoon temperatures. 18 or 19 for glasgow and belfast, 27 degrees in london. still some warmth and humidity around. for the c

monday night, cloud, best, merck and outbreaks of rain pushing estimates, some heavy rain in places,rees, turning quite breezy as well. tuesday will be quite a windy day, rain event in some but not fold, much of it clearing by wednesday, turning cooler for the end of the week. the darker colours show where the wettest weather will be up to the north—west, the lighter colours suggesting that very little rain will fall in the south, where we really do need it. for monday morning, this ridge of high pressure in charge of our weather, so a mainly dry start to the week. one or two sharp showers from this cloud that'll be sitting in place across parts of eastern england. that should tend to clear. then, lots of sunshine, but then we see cloud rolling in from the west, bringing rain into northern ireland around lunchtime and then into south west scotland, west wales, far south west of england, across the isle of man, maybe into north west england later in the day. those are your afternoon temperatures. 18 or 19 for glasgow and belfast, 27 degrees in london. still some warmth and humidity ar

neither one of them went their way, the price has been reduced, now bloomberg saying the talks with merck have kind of stalled and that stock is getting hit, jim. >> yeah, and look, there is great science there. they kind of lack a ceo, not unlike gap, these companies without a ceo are doing better than the ones with ceos. i think that merck has a product, that keytruda may have reached its outer pounds c-gen has some incredible technology >> at the right price. >> at the right price. >> finally, ncr is a name that keeps coming around, i've talked about about it, the veritas is interested in trying to take the company public there's some reports yesterday that had ncr stock up, indicating in some way they've gotten financing that's not what i'm hearing at all. i continue to hear, let's play it forward a few weeks, let's look after labor day, let's see how the financing markets look then but nothing indicates that they are near putting together the financing package, for what would be a large leveraged buyout, jim. that stock was up yesterday on those reports. doesn't mean they've given up

not much pharmaceutical stocks are up merck is up. a couple consumer mnames. hormel and campbell. we are down maybe .50% it sounds hard to believe. we are only down .50% for the month. guys, i can't help but think powell is delighted with the stock market the stock market is a wealth barometer and powell talked about pain to households and businesses to the extent that households are invested in the stock market he wants pain there. he is getting, i think, what he wanted today guys, back to you. >> well, folks and the fed is trying to get this result for a while. now maybe investors believing they are serious bob, thank you >>> rates on the move after the comments from powell rick santelli is more with that. >> if we consider the chairman's speech, it was shorter than many expected and trait to the appointed. there will be inflation fighters no matter what how about the market respond that's what i pay attention to before hand, we had inflation numbers. favors of the fed. consumption expense. headlines in core. all of those have come off of it university of michigan, one-year and

that was mark ceo -- merck cfo speaking with bloomberg earlier on. we will talk about whether or not those sources are going to be available. today, unipart out making another warning of two key coal power plants in germany struggling to get coal along because of the low water levels. we have seen in the last hour the german oil refinery -- german oil refinery on the experiencing a run on heating oil and diesel. what i'm hearing is well, there are not enough trunks to deliver this oil and there are not an of generators to compensate for the loss of the gas. rachel morrison, bloomberg's head of european energy coverage also increasingly -- and she spent a lot of time talking to us about this developing crisis. there seems to be this idea we are facing multiple challenges with our gas prices. we thought we were going to be shifting to coal but that may not -- but that may no longer be available. diesel and heating oil, this is just stretching out to all energy systems that germany and others are all trying to use. >> some of these options government ha

apple, ibm, merck, chevron and mcdonald's a little bit doing better on some of the defensive names like utilities, health care and staples. performing better than discretionary technology and communication services today yield firmer today a big theme as we pull back for the first time in five days. ahead on today's show thomas hoenig will join us to break down the latest signals from the fed minutes, plus the former ceo of macy's about downbeat retail earnings and how they differ from home depot and walmart as well as the retail sales data. the s&p 500 showing a widespread between its 50 and 200 interday moving average partly why some market participants aren't surprised by today's pause mike santoli is here to kick it off. people have been zeroing in on these levels why? >> once you've had this spring-loaded rebound, and the fundamentals never change as fast, so it does tend to trade technically when we get to these critical barriers. yesterday it basically touched that 200 day and backed right off there. up 17% down half 5% really not material. i would say anything down to about ther

. >> he punched me scarquare in te face let's not forget about healthcare within that, merck is a name that you could buy >> good to see you i'll see everybody in a few. the change is now. >>> i'm jon fort in for kelly evans. a tale of two industries and consumers. the ceos of papa john's and elk beauty join us live on the spending trends they're seeing plus, after holding the top spot for months, tech hiring has slowed significantly so which industry takes the top spot we have the answer as we're counting down tomorrow's big jobs report and apple's big ad ambitions. laura martin says advertising could be the next big revenue stream what kind of upside she sees ahead. and bob pisani at the new york stock exchange bob? >> hello, jon. we are trying to establish a higher trading range for the s&p and nasdaq a struggle today, but 4150 to 4200 looked like where we were headed same with a nasdaq d dow's not quite breaking out some sectors are out of favor. what's in favor? technology really for the last month or so. ark's been on a tear flattish today banks have been flattish consumer staple

. >> he wrote this week,, merck about how trump declassified these documents, he said. we heard one of those -- casting doubt on that to muddy the waters. none of these depend on whether the documents or classified, right? >> and as she. we are seeing from the president's defenders on social media, they're saying whether it's classified or not, if you're his top secret, topsecret clearance depends on the president, and the president can declassify documents, it doesn't matter. i'm not saying it's my argument. that's what the president's defenders are racing. you could see the former president raise that is well. it does muddy the water. that's what defense lawyers do. if it does wind up in a criminal court, the point of a defenses to say, look the sick but the prosecution says it's clean clean, it's not so clear and clean. we have to reserve judgment and see what's out there. and indictment doesn't equal a conviction. >> i want to bring in now former federal prosecutor -- in d.c., and as an assistant -- david maria, just to you, actually. there's a problem for numerous

>> this, as he was considering, merck robin was city us opposite theo j. considering whether or not to push for the unsealing of the warrant and of course the property receipt. this is exactly the slippery slope he did not want to end up on. now here he is, on it, trying to argue it as strong as he can to stop the math this have unsealing documents associated with the search warrant. at the end of the day, he's absolutely right. the details in that warrant could have a deleterious effect on the sources that could be identified for having cooperated with investigators. it could expose facts that would undermine the integrity of the investigation going forward. that is what they're most concerned about. >> he is exactly right. this is merrick garland trying to hold the line. the darkness that he tried to until last week, those were a total of six weeks, those are documents you total over to the defendant anyway. they're out there in the world. this affidavit is a whole different ball game. it is against everything we were taught as prosecutor an investigator

. >> he punched me scarquare in te face let's not forget about healthcare within that, merck is a name everybody in a few. the change is now. >>> i'm jon fort in for kelly evans. a tale of two industries and consumers. the ceos of papa john's and elk beauty join us live on the spending trends they're seeing plus, after holding the top spot for months, tech hiring has slowed significantly so which industry takes the top spot we have the answer as we're counting down tomorrow's big jobs report and apple's big ad

the other key component here is the defensive sector so big pharma has been weak recently we've seen merck big names like bristol-myers in the downside and even some of the consumer staples names like kroger and kimberly-clark. we see growth up and defensive stocks are down and the market isn't acting like there will be imminent bad news coming from jay powell >> seema, back to you. >> nice positioning. bob, thank you now to the bond market where the ten-year yield is hitting session lows after james bullard's comments on the show rick santelli tracking the action rick >> yes there are so many dynamics going on, seema? look at the intraday of seven year and it was the last of our auctions and boy, it was the best of breed. as you look at that, you can see at 1:00 how yields dropped yields dropped because of the buying every investor saw when the results of the auction came out. it sounds sort of -- well, incongruent with all of the information we've had over the last four days, but it is what it is and look at one week of tens and the buildup to jackson hole symposium making investors nerv

merck looks like a much healthier chart. above the moving average it recently broke out above the old highs, versus pfizer which is rolling over to me. it also has valuation onside in my opinion. i will just throw out some other names quickly. love the business generally, love the business for this market. i like the chart, too. it broke back up above the old april hide from this year. i think you can play the momentum there. the last one is humana. just a really good-looking chart from this multi-your consolidation. my study trend above the 200 day moving average. you can go down a very long list in healthcare and find some really good charts in what has been a challenging market. i would encourage people to take a look there. >> so i agree with jeff on the fundamentals. it is interesting, because healthcare, you would think, all this that we are talking about should be underperforming. it was a place where a lot of big cabin pharma has good balance sheets. i think that is what has gone on with pfizer and some of the names

, soros biden, large pharmaceutical companies are involved in this scheme, including fiater modern merck well as the affiliation of the american military department of the heliad company, studied by russian military documents , indicate that with ukrainian bio-laboratories. germany and poland worked closely. as for biden, they started making money on bioweapons even under barack obama. today, there seems to be an abyss between the two presidents. i'll go desperate. trying to get attention, obama puts his hand on his shoulder and even call him a hut, as if they are friends, well, both of my neglect. he behaves. as if biden is not there at all. ask yourself. have you seen a sadder sight in your life? a stop it's awful. hunter biden himself, in whose business correspondence they now find direct evidence of the family's involvement in these funds and developments, denies everything with journalists, he is less talkative than with prostitutes. it's your laptop, honestly, i don't know, i really don't know, no idea. you don't know in yours or not? no idea. american military biologists in the fr

on the index, however is not a tech stock, it's a biotech seagen down 7% and reports its talks with merckhad been rumored at about $200 a share and the shares is are down now about 150. "power lunch" will be right back les! as an expedia member you earn points on your travels, and that's on top of your airline miles. so you can go and see... or taste or do absolutely nothing with all those bubbles. without ever wondering if you're getting the most out of your trip. because you are. >>> about 90 minutes left in the trading day. let's get you caught up on stocks, bonds and commodities, and we will begin with bob pisani at post nine. when you look at stocks, bob, right now on track for their worst day in two months? >> yeah. really since the june 16th low we are essentially at the lows for the day and whenever you get these comments from powell where you have growth concerns or you get interest rate scares it's always tech that gets hurt the most and it's also speculative tech that moves down the most so you have big moves down here in unity, block, teledoc, and this is all kathie woods, bro

markets are holding up well because defensive names, pharmaceutical stocks like bristol-myers and merck and kroger and kimberly-clark are generally down they're buying growth and generally selling defensive names. that's not the sign of a market concerned about much more aggressive rate hikes. the market is not acting like that the china tech stocks, a rare, nice little rally here there's a rumor chinese regulators are talking to the people auditing the companies to see if they can find a deal with u.s. regulators, trying to get access to the audit books for these companies for years. the china-listed stocks, these stocks listed here in the united states, are all moving up today. alibaba is up. the broader issues related to china/u.s. relations >> bob, maybe lucy will let him kick it this time. we will see. >>> investors, meanwhile, clearly in wait-and-see mode as the fed's biggest players, speaking of jackson hole, three of the five lightest volume days in the market happened in the past week. a question many are asking themselves is whether jerome powell, the fed chair, will begin a s

. >>> here's a look at the dow heat map disney, merck and apple are leading the way and chevron and jre the only two names in the red. the index up about 280 points. wee ckft ts.'rba aerhi t developer isn't easy. but, at upwork, we found her. she's in prague, between the perfect cup of coffee and her museum of personal computers. and you can find her, and millions of other talented pros, right now on upwork.com ♪ in any business, you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it. solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there. >>> welcome back to "the exchange." we're pretty much at the session highs. the dow is up 278 points the nasdaq is up almost 1.5% as for the movers this hour, we're watching illumina which is the worst name in the s&p after it missed on the top and bottom line, gave disappointing guidance as well 8% drop in the shares as of this afternoon. meantime, toast is surging after a narrower than exp

another one is is a cha knew bella, a great company ken frazier did that at merck.great leaders out there. >> does musk have that or not? >> elon musk is the greatest inventor of our time earlier generations steve jobs was. he's brilliant, and it's amazin what he's done with tesla and spacex and other things. frankly i think he's getting caught in the celebrity trap right now, a little caught one his own amount of money he's worth and all that game with twitter. i wish he'd go back to inventing things he's a great inventor, and i think that's where he's really good and shouldn't worry so much about being a celebrity. >> the book is called "true north: emerging leader edition" bill north, great to talk to you. we could have gone what, another half hour or so. >> i didn't even get to ask the reques teieon fortt will bring us his inrvw with the ceo of cloud security firm vanta. we'll be right back. >> announcer: the bond report is brought to you by pimco, a global leader in active fixed income we got this, babe. that means that your dreams are ours too. and our financi

sharply this year but there is excitement around m & a finally a lot of investors waiting for this the merckse to getting a deal with cgen a lot of people have been bullish and waiting for a while. >>> up next, the ceo of zoetis discusses how generic drug competition and currency fluctuations are impacting that business the dow is down about 64 points. we'll be right back. >>> breaking news out of washington on the inflation reduction act. ylan mui with the story. >> reporter: sara, the senate will now vote on the inflation reduction act starting on saturday afternoon that's according to a statement from majority leader chuck schumer. that sets up a timeline that would put final passage of this bill sometime likely on sunday or monday, but it remains unclear if the senate and democrats have enough votes to actually pass it i saw senator kirsten sin marks the wild card in these negotiations, speaking with republicans on the floor earlier today. she had said that she wants to wait until the bill's text is fully scrubbed before she announces how she will vote but senate democrats not willing to

traditional defensive health care plays, look at some of the larger cap names such as bristol-myers squibb, merck and company or even as mentioned in the earlier segment united health group we know united health group isis bidding on signify health with amazon they're trying to gain market share. the theme today could create an attractive entry point. >> will this m&a creature beau lens with the stocks themselves? if there's m&a, even if it's positive in the medium or longer term, is it going to cause stocks to go down because they have to make the outlay to buy whatever they're buying? >> absolutely. and think about it this way, large cap pharmaceutical companies continue to have their margins compressed, downward pressure put on drug prices and many of their large-scale revenue drugs going off patent subject to generic pricing we think they will have to be inquisitive to the betterment of the pharmaceutical companies who already have drugs in the fda approval pipeline. yes, it's a risky place to put money and that's why you build a diversified portfolio of smaller cap, biotech stops that have t

as we head to break, here's a look at the dow heat map with j&j and merck, the health care trade leading the way. about ten stocks are in the green. boeing and salesforce the biggest laggards with the dow down overall 217 we're back after this. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. hybrid work is here. it's there. it's everywhere. but for someone to be able to work from here, there has to be someone here making sure everything is safe. secure. consistent. so log in from here. or here. assured that someone is here ready to fix anything. anytime. anywhere. even here. that's because nobody... and i mean nobody... makes hybrid work, work better. >>> welcome back to "the exchange." dow was down 319 points at the low, we're about 100 points off t

fifteen week's question merck 16 makes question. >> yes it's in the first trimester.it is when that pregnancy can be detected. that is part of the debate. if you remember the next case that would come before the supreme court is south dakota case. we had been watching the dobbs case in south dakota, t recognizing could overturn roe. we believed if it did the next case the supreme court would hear will be planned parenthood and it is a decision on informed consent gates that now i believe that planned parenthood is seen to be dismissed because of the t decision we have seen come downa on a roe v wade. >> this essentially a part b. once the heartbeat has been detected and there is a viable pregnancy that is on the prohibition kicks in? >> we actually had a debate this year unto a heartbeat built much like texas that would've put it in place whether not roe was overturned or not.s it was interesting me too make us with some division among republicans this year among that. many republicans in the legislature did not want to bring a heartbeat built the fed would jeopardize

let me tell you, a monday, merck garland was unknown on the idea of making a statement at all about the search. obviously, the former president went public with that statement, describing it as a siege. the former president has had the ground to himself. he had the ability to fashion the narrative about exactly what happened during the fbi search on monday. what we have seen in the in suing few days is some of the things that brynn gingras was talking about, threats against fbi agents. we have seen attacks against their credibility, attacks saying that the fbi may have planted some evidence. that is what really helped inform what the attorney general did today. he stood before us and said, essentially, the former president has already spoken publicly about this and, essentially, made it okay for the justice department to go to court in a very unusual step, by the way, to say that we can release these two documents. the documents we will get will probably not tell us a lot of the underlying information about this investigation, but it will tell us if you think about what the fbi took dur

from merck all the way down to nike, all the stocks moving lower at this hour, down about 1.2 the % on500 billion student loan handout. come in, lauren. what are they saying? lauren: yeah. i want to point out these are democrats in vulnerable districts, right? kim shh. >> rye orer of washington state says this is not how i would have done it, and then she suggests, hey, why don't you forgive the debt of students you need to channel into certain careers? like a teacher, a nurse or a mental health if professional, we'll forgive some of your death. congressman chris pappas of new hampshire says this is no way to make progress. tim ryan of ohio, senator catherine cortez masto opposing this, and you can see the list here. of course, economists are have come out from previous democratic administrations, they're against it. jason furman says it's pouring $500 billion on an inflationary fire, ashley. ashley: yes, indeed. lauren: strong words. ashley: thinking ahead to the midterms and -- yes. yes. i'm not surprised. they all made sense. >>> now this, a nonpartisan committee says the money save

but merck is down, pfizer is down, j&j. >> j&j has exposure. exposure is exposure i think they're taking the money that they're getting correctly from covid and buying new companies and developing a pipeline >> yeah. but losing the surplus so to speak. >> yes >> of revenue from the covid vaccine, not to mention paxlovid and the global blood is the latest deal. $5 billion -- >> yeah. >> bio -- >> i'm sorry, sickle cell anemia >> bio grade at almost called a one a day -- a migraine with the weather, it will get rid of the migraine in a half hour. people don't know about it yet the ceo told it to pfizer in part because he felt the word wasn't going to get out. pfizer is committed to making a $15 billion drug >> right, biohaven is going to be own the by pfizer this year is not, last year was a great year for that stock. >> yeah. >> and finally pushing it above its 20-year r-- for 20 years tht stock has not done anything. >> what kind of ceo ran their company? >> i don't know what kind of ceo -- a financial guy >> yeah. >> is hank mcconnell a financ

gang and like that control and cartel that control everything, not only columbia but much of south merckion i think -- intention is right but columbia is the biggest producer of cocaine in the world and just because you legalize it in columbia, doesn't mean you can bring it to the u.s. un-income bernards healthcared because it's illegal in the u.s. and it'll only increase productivity of cocaine in columbia and of course it'll become -- be coming in higher quantities to the border and this will divide further the relationship between columbia and the u.s. and the biden administration is opposed and senator ted cruz is proposing to cut off any future counter narcotics, but i think what needs to be stressed here, neil, is sadly addiction reaches into the lives of millions here in america and consider that nearly half of all americans have a family member or close friend dependent on drugs. we need a renewed focus on empowering individuals to break free of addictions to have thriving communities and the actions will be irrelevant. irr. neil: yeah, whatever columbia cause regarding cocaine d

seems to be moving more into the pharmaceuticals and to some of those more defensive names we've got merckp a story today in "the wall street journal" about the transition that will take place as this year goes along into next year as far as the government no longer paying for covid therapeutics pfizer really with paxlovid and with the vaccines perhaps a beneficiary of that, even more so in terms of the profitability side, conceivably making more money than when they sell it straight to the government, although again, a lot remains to be ironed out on that. other than gm, you know, seeing most names in the red right now. gm is up 2.3% on that news we shared earlier as well >> i was going to say, in terms like what would be still a normal, overall pullback in the s&p, you know, if you remember, 4170, carl, before you went away, that was the ceiling, everybody said got to get above it, it's early june highs, a low going back to the early part of this year and the march rally took off from there. that's still kind of the low, if you went back to that, everyone would say yeah, this is just nor

perhaps i missed in merck forming by dawn.or in the north sea and it will feel quite chilly in scarborough, only around 16 degrees there. that's it, have a great weekend. hello this is bbc news. the headlines... millions of households will see an 80—percent increase in their gas and electricity bills as ofgem announces a new price cap. the regulator and campaigners call for immediate government action. as europe's energy costs skyrocket, russia is burning off large amounts of natural gas which would have previously been exported to germany. a man has been arrested on suspicion of the murder of nine year—old olivia pratt—korbel in liverpool on monday. the usjustice department prepares to release the court document used to justify the search of donald trump's home in florida. the justice department thejustice department has no rude lease that redacted version of the affidavit uses for the approval of the search of donald trump home. in the search of donald trump home. in the meantime let's get all of the sports news. the meantim

so a name like merck is a great health care name.gs. i think value will outperform in the short term. i'm waiting on tech because i think there's going to be a better buying opportunity over the next few months. neil: all right, guys, thank you very much. we'll tap you later in the show to get your thought on interest rates. the fed doesn't control a lot of those things, including mortgage rates that you were both alluding to. in the meantime, the pain at the pump is still there, it's just moved. let's go to kelly o'grady in long beach, california, with more on that side of the story. kelly. >> reporter: hey. good to see you, or neil. yeah, we just had the longest losing streak for diesel prices in two years, but that has come to an end. after falling for about the last two months, we're now seeing the price back up above $5 a gallon, and that's happening as farmers, others are stockpiling fuel before that harvest season. so i want to show you today diesel prices at $5.05, $1.80 higher than a year ago, and it really signals this loom

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topping that list is merck, then johnson & johnson, amgen, home depot, united health that's the dow winners. lauren: i have no idea. stuart: i could google it. >> she just announced a buyback stuart: and they have a dividend restore the dividend. that's general motors. okay, what did you say producer? davita is healthcare. now i know. fast on the googling there. >> yes that's right very fast. stuart: ross stores, amgen, xl energy, gillead shines on the nasdaq list of winners. here is what's coming up. look at your screen, now that looks like a bag of candy doesn't it? well it's not. it's fentanyl. if you have kids, tell me that does not scare you. the white house could soon stop paying for covid shots and treatments. would you pay out of pocket for four shots a year? you might have to, if you want the shots. portnoy is back and he's a lot richer. i want to know how he's going to spend it. i'll ask him, he's next. ♪ ♪ ♪ ♪ ♪ ♪ all-electric with room for up to seven. it's the suv electric has been waiting for. the all-new eqb from mercedes-benz. ♪ ♪ your shipping manager left to “find themself

take a look at the dow winners headed by merck, amgen, j&j, cisco, procter & gamble.rdner. okay, let's move on. the nasdaq composite, who's the winner there? intuitive surgical. i don't know -- lauren: zoom. stuart: zoom is on there, but no big tech on that list. >> had a huge rally in july and now it's just kind of saying here, not a big selloff. we have to digest rally before we move higher. stuart: whatever you say. >> yes, sir. stuart: thank you. 10-year treasury, look at that. the yield's gone up to 2.58. ten minutes ago service at 2.5 -- it was at 2.53. >> 20 minutes ago we were talking about 3.5-4, so that's very positive for big tech. stuart: i guess it is. check the price of gold, 1798 per ounce. bitcoin, 22,000 and change. oil, where is it now? $99 4 a barrel with. nat gas, where's that today? 7.84. and gasoline keeps on coming down 2-3 cents a day. your national average for regular regular is now $4.18, but many california you'll still pay 5.58. >>> coming up, west virginia is banning big banks over their climate policies. how is the banks -- how have the b

such as health care, certain large-cap pharmaceutical companies that pay attractive dividends like a merckll allow you to manage through this period of economic slowdown up to and through perceptions and pay income >> are you feeling like investors -- are you recommending to clients that you get much more defensive, or do you still go into the quote, unquote defensive big-cap tech stocks, which have seen its troubles since august highs? i mean, apple is down 10% from august highs >> yes we like three areas right now, and all three are part of this new american economy that's clearly emerging from the covid-19 pandemic. first and foremost, health care. small-cap biotechs or large-cap pharmaceuticals that i mentioned earlier. second area we still like is technology one company is aci, which is involved in facilitating realtime digital payments, which are so critical as it relates to e-commerce and findly, as it relates to e-commerce, we still like amazon in this particular environment amazon is clearly trying to spread its tentacles into the health care industry themselves with their acquisi

dow is down 20 points, fraction of 1%, 33-9, dow winners headed by cisco systems, 6% again, chevron, merckm and caterpillar all active, the s&p 500 cisco systems, key site technologies, lots of energy companies out there this morning, nasdaq winner, cisco tops the list, broad, and so is xcel energy, plenty of energy stocks doing well today. is what is coming up, rory mcelroy describes tiger woods's persons during a meeting with pga tour players about live golf. >> i think it is pretty apparent when we get in the room there is an out far in there and it is not me. stuart: i guess that would be woods. his presence and taught pga players. he's talking about the switch to live. we have a report on that. credit reporting agency fitch predicting a severe housing downturn where prices could fall 15%. real estate guy mitch rachelle says that's not going to happen. we have a debate on it. the white house beefing up the irs with 87,000 additional agents. art laughter was economic advisor to president reagan, those guys will not be targeting the rich. he knows what he's talking about too. art laughte

cheap and that's what it's doing, the first-line lung cancer standard of care along with keytruda from merckc changed its rules about how we treat the cost of acquisition to include them in non-gap and gap accounting and we had a big one in the quarter of $440 million buyout of a new cancer drug, and we put that through the income statement. so it looks like earnings are suppressed when in reality in the past we didn't do that we incl we include td that in the forwa guide. i interpret it as more strength in the business than downside. >> what do we call it, the manchi manchin-schumer law, t the inflation reduction act. do you think it's a bad idea for lower prices to be negotiated? most people think that's probably fair game in a market system >> we do oppose the bill first, i have to say, lilly's been for changes there's a part for seniors called part d that we would support if it was a free-standing item caps some out of pocket and does some other things to smooths out costs. but the issue is the government getting involved in cost setting. what they do is after nine years on the market fo

the best performers, there's only one winner, and that's merck and that's up $0.01. and gamble, amgen are the least of the losers. s&p winners constellation brands liquor company, kroger, nielsen holdings, interesting and the top of the nasdaq, there's only one. one winner. >> cable operator. stuart: there you go. there's hope brings eternal. check that 10-year treasury. we checked that a moment ago and it was at just 299, just shy of the 3% level. that's why big techs having such trouble this morning. the price of gold, you know, 1,750 per ounce. bitcoin is trying to hold on to 21,000 just holding on right there. the price of oil, that is down three bucks $87 a barrel and natural gas on the upside 4.5% as the cold weather comes nat gas starts to go up. the average price for a gallon of regular 3.90 unchanged from yesterday, a gallon of diesel is down to 4.97. here is what's coming up. education secretary cardona said it's unfortunate that school districts are lowering the standards for teachers. roll tape. >> we are seeing districts change the qualifications so that