mr. buffett's comments are the comments we all share in our observations about the market. whether it's buying a little bit more apple maybe not buying as aggressively as years past when pete did 15, 20 years when he first got into the apple name his comments on the economy. we would all like a dip in the market the nasdaq super5.5% in the move august will we see another 5.5% in the month of september i would argue that's not good for the marketplace. we want the dip. and the last thought i thought was compelling he's buying a basket of american stocks on a day when we're seeing a currency infection with south africa, with turkey, with argentina, with argentina taking 60%, he's buying american stocks and it shows the excellence of the american consumer, the american corporations and the american economy. >> consumers are out which he was very positive on >> if you look at it, he's not buying the market, he's buying specific stocks. look at the valuation. you mentioned delta. delta is ten times earning he's buying bank of america. 12 times earnings. look at the stocks you go

mr. buffett's 88thda bir happy birthday. >>> oil price essex tended their august climb.he price of domestic crude asettled above $70 a barr supplies as well as supply disruptions out of iran and alsd venezuela, there are also new reports that iran is threatening to halt the flow of oil through the straits o hormuz which is the route for 30% of seaborn crude. >> john kilduff joins us now to talk about iran a oil prices and where he sees prices heading. >> you again, john. i've heard conflicting stories that gasoline prices will stay roughly where they are for a while which is 4 cents a gallon higher than they were at this time next year and as we move into september and ontober, se changes, they may go down. what do you see for the rese of ear? >> think right now -- unfortunately, potentiallycahe before something of a storm. e are well supplied in gasoline we are switching over to the winter blend of gasoline that is morer to make and more uniform and uniformly supplied and it gathers about a 10 to 15-cent discount just on the barrel versus the summer blend. between now a

many market watchers quoted in the reports of caution that while this is a first for berkshire mr buffett is not personally involved in the deal and may not this may not set a new precedent or policy for mr buffett with regard to technology. there are some mega moves in the right hand. space says d.-d. the chinese company has suspended its so-called it should be carpooling service that after a brutal assault no murder of a female passenger this follows another murder of a writer in may the company released a statement which read quote as a platform d.d. failed to live up to trust and well the public and has inherent responsibility and whoever is taking the long way home to profits have it focuses not on cars or rescue vs but.

many market watchers quoted in the reports of caution that while this is a first for berkshire mr buffett is not personally involved in the deal and may not this may not set a new precedent or policy for mr buffett with regard to technology. there are some mega moves in the right hailing space as d.d. the chinese company has suspended its so-called it should be carpooling service that after a brutal assault number of a female passenger this follows another murder of a writer in may the company restates released a statement which read quote as a platform d.d. failed to live up to trust and by the public and has inherent responsibility and hoover is taking the long way home to profits have it focuses not on cars or rescue vs but makes moves toward more urban friendly transport lots to get up to speed to on the right hailing space let's get with alex my hyla but she's always savvy and sophisticated on these things alex that this is spencer of the car pooling service the hitch is a big blow to d.d. isn't it. well of course look at do you know many of us haven't even heard of d.d. out there i'

many market watchers quoted in the reports of caution that while this is a first for berkshire mr buffett is not personally involved in the deal and may not this may not set a new precedent or policy for mr buffett with regard to technology. there are some mega moves in the right hailing space as d.d. the chinese company has suspended its sole. called it should be carpooling service that after a brutal assault no murder of a female passenger this follows another murder of a writer in may the company released a statement which read quote as a platform d.d. failed to live up to trust and of the public and has inherent responsibility and hoover is taking the long way home to profits have it focuses not on cars or rescue vs but makes moves toward more urban friendly transport lots to get up to speed to on the right hailing space let's get with alex my hyla but she's always savvy and sophisticated on these things alex that this suspension of the car pooling service the hitch is a big blow to d.d. isn't it. well of course look at do you know many of us haven't even heard of d.d. out there i'm s

many market watchers quoted in the reports of caution that while this is a first for berkshire mr buffettis not personally involved in the deal and may not this may not set a new precedent or policy for mr buffett with regard to technology. there are some mega moves in the right hailing space as d.d. the chinese company has suspended its so-called it should be carpooling service that after a brutal assault number of a.

mr. kirk has done a phenomenal job of delivering shareholder values. liz: is warren buffettke the same mistake people make when they felt apple would never be as good once steve jobs had di died? by saying it's not the horse but the jockey. he has an iphone and he doesn't know how to use it doesn't care. keeps talking about the leadership. >> listen, i completely agree with mr. buffett on that point. i cannot think of a better leader to have taken the reins from mr. jobs after he passed away. i think mr. cook has done any good of a job after stewarding the company to a challenging time after mr. jobs past weight. liz: we had to go but let me guess you're not to sell shares anytime soon. >> the forecast for the company looks good and we continue to be constructive on the name. liz: greg hirsch started pineapple $11 a share. that's a good lesson to a lot of people. thank you very much. liz: big blue seen the big gains because about bringing in 36 minutes with ibm, look at that. you don't often see it up at the top leading the dow. reports are surfacing that the tech giant will

mr. buffett's comments about apple. we love the fact that mr. uy them cheaper nonhe praises apple of which he owns 5% apple moved $2 on that we were doing the math here. 240 million shares. >> over half a billion shares. >> half a billion. half a balance dollars 240 million shares times $2 is $$40,240,000,000. >> he he was buying recently and that was the signal he should know the effect. >> talk the become down. >> very good. >> all right mike, bob thank you. and that big interview on cnbc today warren buffett speaking with becky quick about the stock market on the economy and the fed. becky is life with the highlights here becky. >> contessa let's run you threw some of the things we talked about the market he says he likes it he has been buying stocks even this morning. talked about the economy and says it continues to improve based on everything he is sue seeing through the berkshire businesses and the federal reserving he thinks jay powell is the right person for the job doing a great job. we talked about a recent tweet from trump, she said i

mr. buffett of berkshire hathaway. important questions on investment and finance. mr. ure. the view from omaha. david with warren buffett tomorrow. ♪ taylor:ank this is -- this is "bloomberg surveillance." --er martin is considering aston martin is considering an ipo in london. it will decide whether to go ahead by september 20. thes said to seek valuations of as much as $6.4 billion. enterprise ard came out better than expected profit forecasts. that is it seen as a signal that hpe is starting to benefit from cost cuts in a move into higher services. it will be the biggest leverage loan offer of the year. investors, led by blackstone group will start marketing 80 yeah and dollars to pay for the buyouts of thomson reuters financial and risk operations. that is a bloomberg business flash. nejra: thank you so much. the u.k. and european union are quietly pushing back there october deadline for reaching a brexit deal. sideserg sources say both are said to make progress by november. by european'sned government reporter in brussels. publicly, we have theresa may's spokespers

mr. buffett does is taking place thank you for being with us today. delighted to be here. >> the winner for the glide foundation auction paying $3.3 million to have lunch with you today. what are you going to say to them to make it worth their while? >> we'll talk about whatever they want to talk about and as long as they want to talk. any subject they want to get into, except what i'm buying currently. i love to talk about what they want to talk about >> is it common to be asked for stock picks in these lunches >> no, actually it isn't i can't recall ever being asked. we talk about family actually, the couple that bought it this year bringing along two small children and we talk about the children, raising kids, a lot of things. it's not all stock or business or finance at all. >> well, let me be the skunk at the garden party and start asking about some of the things. you are joining us on a day we have watched the stock market continue to set new highs, the s&p, the russell and the nasdaq. the dow is not far off the question we always ask you is do

mr. buffett said, you find out who has been swimming naked, and i think we are finding have very much been the shallows. you go forward, you will find individual companies are indeed countries that availed .hemselves of the cheap money the environment is beginning to change. one of your investing themes is millennial consumption. the demographics of emerging markets in asia would be pretty compelling at the moment. is this a market that you would selectively be opportunistic about? wars,going to be trade the dollar liquidity, and that emergence in rates that will continue driving the bearishness on e.m.'s? i think our focus is trying to work out the structural drivers within markets to find the winners and losers from a stock picking perspective so we are focused on millennial consumption. can be in the developed markets to define the market share gainers versus the losers. in the developing world, it is following the same pattern as the baby boomers. it is the same businesses that play into rising consumption, greater wealth, and the ability to tap into credit. millennial's and what they

mr. buffett is someone who i respect. a mana wonderful person, of great integrity.. i watch how he shoes -- chooses people with whom to partner very carefully. isa: that was -- caroline: was kathy ireland. speaking with a bloombergs at hammond. ising up, andrew left shorting again. we will ask him why, next. this is bloomberg. ♪ is bloomberg. ♪ ♪ lisa: this is "bloomberg markets." i'm lisa abramowicz. caroline: i'm caroline hyde. lisa: it is time for the sector site or report. abigail: today we are taking a of the fourxly, one sectors higher for the s&p 500. on this board, we have another all-time high. the xly did put in another intraday record high. a lot of strength. up for a third day in a row. the biggest point boosted income amazon. at 6/10 of 1%. there is a story that they're looking for movies from sony and paramount. there is also a deal with sears holdings. those shares up 12.6%. they are expanding their tire partnership with amazon. dragging on the sector, the home-building sector, here is sector etf down 3/10 of 1% or the home-building sector. the number

mr. buffett. that's on thursday in the 11:00 hour. stay with us worldwide.let's get to the business flash. a private equity firm has agreed this represents a 7% premium. the closing price yesterday. private equity firm gain access to the premium income. they are betting they can generate higher returns. giants restaurant review is now gauging an ipo in hong kong. the stock offering could raise with aan $4 billion valuation at $55 billion. is betting that a partnership with uber will help develop self driving cars. the japanese automaker is investing $500 million more in the ride-hailing service. there will be minivans with the self driving technology. that's your bloomberg business flash. tom: this is something we haven't looked at recently with all the emerging markets and the distractions of the global economy. will be talking about the dollar. we have a lot of fun at strategy as well. let's bring up the chart. gt inl get this out on just a minute. this is generally a stronger dollar. a lot of people don't know the room to move the dollar has. how strong i

mr. buffett talked about, nobody knows what will happen next. that being said, liz, what we do know, for retail investors or john q. public that want to stay long in this marketplace, we do know they can buy protection. we can buy cheap protection at this point. liz: make no his take, warren buffett is already buying stocks. he said i've been buying stocks since 1942. he is always in the market. scott, sarge, thank you very much. first it was sexual harrassment accusations against top nike executives. now with the closing bell ringing in 50 minutes, nike's stock, one of the dow's worst performers in this final hour of trade after listen to this a famed kenyan sports official was banned for life from sports after being found guilty of taking hundreds of thousands of dollars in payments from the sportswear giant, ethical breach. >>> up next, yes we told you warren buffett celebrating 88th birthday selling in style. at smith and wollensky steak restaurant here in new york city with yours truly. warren buffett tells me central bankers are wrong blam

mr. buffett, but not all of us hold coca-cola into their 90s. there's reason some want to move stocks more often than once a generation. back to you. >> good to get a different and civil point of view as you always bring thank you, bob >>> when we come back, apple hitting another all-time high on pace for the fifth straight day of gains trillion dollar market cap in the rearview mirror. we discuss where the stock goes from here. >>> later, susan lyne is here with us on her take of the elon musk suaonitti more "squawk alley" still to come stay with us not anymore, td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, with td ameritrade. ♪ apple. the stock hitting another record inter day high, on pace for a fifth straight day of gains. ryan white, and timothy lesco, welcome to you both. take a bit of a turn, rya

mr. buffett must think when he see this happen. his stake is worth morning $40 million in apple you can make the argument his additional buying of shares in may, at least revealed in may, was the last sort of propelling of the stock to get to this level. >> yep that was sub-160, 165, that last one. now he's up 40 bucks on that another 75 million shares times 40 some odd dollars in upside that he's had out of that. so, yeah, this will be a reason that whether bumr. buffett keep on to this one it was said on this show yesterday if the biggest company in the world with the biggest cash horde is buying up shares in its own stock and the best investor in multiple generations is buying up shares, why would you not want to be in it >> tony, how should we think about the law of large numbers today as we hit the largest number ever achieved by a u.s. company? >> look, it's a different kind of story you know, this is a stock that, i think if you go back 15 or 18 years is up 100 fold that's not going to occur over the next 20 years, obviously

mr. buffett on the markets >> you have your choice between buying and holding a 30 year bond for 30 yearsg a basket of american stocks. there's just no question you'll do better owning stocks it's mor

mr. buffett and berkshire hathaway. look at mutual funds and etfs, vanguard, blackrock, state street, they have a 16% stake in apple. when you break it down, spdr s&p 500 etf, they have 55.8 million shares. i-shares u.s. tech etf, their exposure is 17% of the portfolio, roughly $4.1 billion in holdings on apple. talk about winners and losers with apple, you remember john sculley? he is the guy who had unfortunate history replacing steve jobs, getting pushed out by steve jobs, former ceo. he sold the apple stock he had, began buying it after introduction of the iphone. he has 60% of his net worth is apple stock. that net worth is worth a lot more today than it was just a month ago. charles? charles: adam shapiro, thank you very, very much. so the question now of course what is next for the tech giant. to tech analyst. russ, first of all, great seeing you. it has been a long time. >> i know it has been a while. charles: what is next? they're sitting on a pile of cash. there have been some investors so long trying to get t

mr. buffett, the gentleman from omaha.. ♪ ♪ tom: "bloomberg surveillance," nejra in london and on tom keene in new york. catherine mann will join us in the next hour. we will talk about her historic academic work on dysfunction between china and the united states. i am really looking forward to that. in all the years i have known her, it is the single best time i know, to talk to her about dysfunction in economics. right now, not this functional. nejra is trending. nejra: let's check in on the bloomberg universe. south korea could be home to the world's first 5g city. it is a million-dollar project to bring bandwidth to roads, to emergency services. bloomberg.com, the eu wants to keep close as possible to the u.k. after brexit. the eu is planning for all possible outcomes, including no deal. third-place. quantum says the 20 hour flight is coming and it may have a jim and bunk. amazon, closes in on the market cap. and trump blames china for stalled nuclear talks with north korea. let's get the first world news. taylor: chin

mr. buffett didn't give you a little bit of a heads up. >> right. >> you also have to say in the past coca-cola's diversification sake haven't been the best. you want to go back to columbia pictures, maybe that's not the no, but this does make sense i think it's good for the stock not just to have dividend cash cow. >> is it something where you see the beer companies going cannabis and now you see these guys going a different direction. are they just too big? do they all have to fragment off? >> their core products are under pressure so you've got to find new ways. >> package food companies, and i guess the traditional beverage companies. this doesn't seem like a brand they'll take global, just like pepsico said soda stream isn't going to be leveraging their existing brands. >> when we looked at the dow's biggest gainers this morning, coca-cola was up by 1.1% so the knee-jerk reaction is they seem to like it. >> the market likes when huge companies turn cash earning very little into a business i think you had a positive reaction to pepsico. you go back further, microsoft buying linkedin. but it w

mr. buffett says does carry weight. stuart: i'm surprised tesla stock held up as much as it held up.own at it from every angle. stuart: we put it up on the screen. it was 298. just dropped below 300. $300 a share -- ashley: considering everything. stuart: i think tesla is worth more than the ford motor company, even though ford makes money and sells 10 times as many cars. ashley: yes. stuart: trying to check this one out. low of the day. here we are, low of the day for the dow industrials. down 62 as we speak. 1/3 of the dow 30 up, 2/3 down. more "varney" in a moment. well, with your finances that is. we had nothing to do with that tie. voya. helping you to and through retirement. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast

mr. warren buffett. >> i'll tell you where we're going. you wait mike, thank you for being here today.n us tomorrow "squawk on the street" is next ♪ >>> good thursday morning. welcome to "squawk on the street." i'm carl quintanilla with sarah eisner we continue to watch u.s./canada trade talks. buffett will join us in two hours. europe south of the flat line. personal income and spending are roughly in line. our road map is going to go like this stock poised to end a four-day rally. major averages remai

mr. varney. >> i guess that is the kibosh on any idea apple might buy tesla warren buffett has 56 billion dollarsys means something. i guess. apple is not going to be buying tesla, that had been speculation, after all tesla great financial trouble, they need money, they are going to need money in the future, they are looking for a partner maybe looking for a buyout deal, not going to come from apple even though, apple has got all this money so that settles that, i wonder if tesla can keep 300 dollar per share mark with that as news background i see apple going further up, i guess investors didn't want him to buy tesla first place that is the stated play this morning, actually dagen i was rather hoping gerri would imitate a british accent see how that went down i don't think that is going to happen. dagen: you know what i am not going to do? a british accent. >> and i won't do your accent either okay. dagen: i sound like when you do southern you sound like john wayne. >> i will take that. >> [laughter] exactly, stuart i can't wait to watch your show coming up -- with an i spring on you quick in-n-