berkshire hathaway slathering in occidental petroleum. it's increased 20% shares and billionaire warren buffet's firm can record the shares as his own. berkshire disclosed it bought 6.7 million shares and boosting the stake to 20-point 2%, and works out to about 11.3 billion and the ownership in occidental for berkshire is 188.3 million shares and plus that 100,000 in preferred shares and warrants to purchase nearly 84 million common shares and some analysts speck rated that berkshire could buy all of occidental whose shares more than doubled over the year. oxy up 4.1%. we've have this late breaking news from general motors. this afternoon the auto giant cfo paul jacobson told a jm morgan investor conference that the company plans to soon disclose the profitability of its ev business. gm has boldly pronounced it will overtake tesla in ev sales by 2024. that would be no small feat considering tesla has 60% market share in the ev market here in the u.s.. so to do so, gm needs to churn out lithium ion batteries on a massive scale and the com

regulators to buy as much as 50% of occidental petroleum.kshire spent a year wagering on occidental after making a bet on the houston-based oil company three years ago. the stock had its just gain in five months. billionaire ryan cohen targeted a $68 million profit from the sale of his stake in bed, bath & beyond, an investment he held just seven months. he scored a 56% gain, other retailers are feeling the pain. bed, bath and beyond shares tumbled as much as 43% after his exit. asset management will be in focus when china opens for trade after an investment service but in a review for possible downgrade. the bad debt manager faces -- a forecast that was worse than expected. taking a look at the day ahead for us trillion and new zealand, another big day for earnings were a number of companies. reporting a full-year net loss of 99 million australian dollars or 67 million u.s. the qantas ceo is apologizing over delays in lost baggage, offering $50 off return flights for frequent flyers based in australia and new zealand. work is underway to im

. >>> warren buffett has no plans for a stake in occidental petroleum. planning to buy 50% of the shares, those close to the oracle of omaha says it is uncharacteristic to make a hostile bid. shares were up on friday with the news breaking. >> a big deal there. occidental hot stock. frank, thank you >>> let's get back now to the markets and your monday. we are in a wait and see mode. jay powell's speech on friday in jackson hole let's bring in ross mayfield i know the attention on the fed and europe and china in di disarray what are you and your team closely watching right now >> most closely is still the fed and u.s. inflation that leads the world markets obviously inndiosyncratic issue. it starts and ends with the federal reserve and the inflation on the u.s. side looks like to your point. we are watching powell we expect him to strike a slightly hawkish tone. they want to jawbone inflation to year end. the talk of the pivot and rally equity markets has fed governors on edge. it starts and ends there that is what we are watching this week and weeks to

you have warren buffett's recent favorite, occidental petroleum up 4% today within the tech landscapewith the nasdaq 100,, up more than 16%, to the downside, some of the regulars like tesla losing. on company specific, bristol-myers squibb up more than 5%, tied it to trial results for a preventative treatment on strokes. makes results weighing on the stocks. kriti: one of oppenheimer's is one of one of the most bullish strategist and he is sticking to the call. >> stocks can go up as interest rates rise and there is concern over inflation. i got into this business in 1983, so i have been through a ton of cycles. in the beginning it is tough and the naysayers always say the fed is going to fail. kriti: the case for bull on stocks. >> we are seeing this last night going into the morning. the s&p 500 trading above its 50 day moving average, and that will be a key technical level. we are seeing tax still salt -- tech still sell off. now it is said that as long as the s&p 500 stays above it is ok for him. if it goes below, he will reassess. that is an interesting term. jon: i am glad you m

abril: dengue, malaria,mal de chagas, sica, y virus del nilo occidental. >> es importante tomar medidasdebemos de ser cuidadosos al momento de viajar. —puntos primero eliminar el agua estancada de sus hogares ya que puede ser utilizada como criador de mosquitos. segundo utilizar cualquier repelente de mosquitos. asegÚrese que tenga un quÍmico que le da ahuyentar a estos insectos. use ropa que cubra su cuerpo como pantalones y blusas. si vas a ir a un Área propensa a estos insectos. y si le pica un mosquito y siente sÍntomas como diarrea, dolor de cabeza,nÁusea, entre otros, llame a su mÉdico inmediatamente. >> es importante tomar las medidas que les mencione. no exponerse a esta situaciÓn. marÍa: y con estas imÁgenes en vivo desde el monte a ni son saludo a nuestra meteorÓloga que estÁ lista con el pronÓstico para el inicio de la semana. >> iniciando la semana laboral en lo que podemos esperar. temprano la maÑana precauciÓn. vamos a tener Áreas de niebla que reducen la visibilidad. tambiÉn va a estar ventoso por momentos. especialmente en la tarde. algo positivo es que vamos a disfrutar

su cuerpo ya estÁ en ciudad ojeda, pueblo de origen en el occidente venezolano.niendo la ilusiÓn que yo decÍa que por fin iba a darlo tras 11 aÑos. reportero: su madre habÍa hablado con jordan 20 minutos antes del accidente en el que muriÓ protegiendo a su niÑa de dos aÑos, a quien consiguieron bajo Él. >> si yo acababa de hablar con mi niÑo. reportero: los 15 cuerpos de los migrantes venezolanos fallecidos fueron ya traÍdos al paÍs y entregados a sus familiares. tres de ellos eran de esta misma ciudad, y aunque no se conocÍan, iban a bordo de ese accidente que terminÓ robÁndoles sus sueÑos. decenas de venezolanos han perdido la suya en este trayecto mortal por amÉrica central rumbo a estados unidos en busca del mismo sueÑo de jordan, tener una vida mejor. patricia: el salvador, considerado uno de los paÍses mÁs violentos del mundo, asegura estar disminuyendo el nÚmero de homicidios debido a la guerra que el gobierno le ha declarado a las pandillas. varias organizaciones afirman que las medidas del presidente bukele atentan contra los derechos humanos de los pand

i think there is another higher and clearly i think warren buffett thinks that as well and occidentalorth of 20% and invested interest in seeing the company do well and it will. flirting with the 52-week high but nowhere near levels we saw five or six years ago. you can stay with it despite the commodity seems to be under pressure. >> i think it's an interesting play on the resource if we've been under investing for such a long time and we could see a supercycle of investment that sets us up longer-term. >> next up, so five more than 7% on the back of softbank announcement it would sell part of its stake in the company. is this a self i story or softbank story? >> more to do with softbank. they have a large stake and lowered it much more levels than here and they may sell some or all and i guess if you're in the business of buying stocks you don't want to get in front of buying the stock where the largest shareholder has suggested and i like the company and management and i was buying it last year at much higher levels and now i don't really want to step in front of this. it's a hat s

the list including expedia, occidental and midcore great to see you, quint.h expedia. >> yeah, expedia is a tough one because this is a stock that i would traditionally really get behind from a fundamental perspective. the stock is cheap, selling 11 times forward earnings and now they're set to grow those by 35%. they have a tailwind in the travel and leisure area that i like quite a bit the problem that i have with the name that keeps it off my list is the balance sheet the stock has a debt-to-equity arab ratio of 4-1 if you're in the name, enjoy the ride, but i think you need to be very careful we would be a seller of strength in this. >> let's talk about oxy petr petroleum. this stock felt to me like a walking dead but it has been anything but do you think it can keep it up >> well, this is also a difficult one for me because i'm going to go against warren buffett and say oxy is a sell. this is very difficult for me because i definitely would follow his lead in most names. but the reality here, tyler, is this name is just not that attractive if you can loo

cupertino tenga cuidado porque las autoridades aquí han encontrado mosquitos transmisores del nilo occidental encuentra lloviendo mucho el que no se propician esos estancamientos de agua. >>> vamos a ver qué eslo que se encuentra sucediendo en materia el tiempo. noche espectacular y saludos a todos los que se encuentran de viaje. este es el aeropuerto internacional de san francisco porque ya se ve a lo largo de esta noche en los próximos días lo que es la lluvia de estrella. las condiciones se mantienen despejadas hacia el interior, concord 65 grados. pero la luna comienza a ser brillante comienza posicionarse en gran parte del área... no se permite la visibilidad de esta lluvia de meteoros. estas son las temperaturas en esta noche se espera que en la madrugada desciendan. los nublados van a permanecer en la región pero cuando salga el sol se disipan. así se estarían viendo las (inentendible) y si mira una estrella fugaz mucha suerte debido a que la luna se estará formando a partir de mañana por lo menos a partir del jueves como luna llena pero es la última súper luna y recuerden que son cuat

occidental stock had its biggest again in five months. billionaire ryan cohen pocketed a $58 million profit from the sale of his stake in bed, bath & beyond, and investment he held for seven months. he scored a 56% gain. other retail traders are feeling the pain. bed, bath & beyond shares tumbled as much as 43% after his exit. hiring asset management will be in focus when china opens for trade after the movie investor service put a release for possible downgrade. the manager faces increasing asset quality strength after its projected first half lost for a forecast worse than expected. u.s. futures continued their slide, extending declines in the friday session. the worst day since june. we are talking about snapping the longest weekly rally since november. the vix above 20. we had options explorations that added to volatility. in asia we continue to see the downside. all of the fed speak last week pointed to more rate hikes to come ahead of jackson hole. you are seeing futures down .4%. q. week stocks down .1%. even nikkei futures are und

de sus lenguas y otras tradiciones >>> queremos que estos tejidos vuelvan nuevamente a esta zona occidentaln aÑo y queremos que nos tomen en cuenta. >> en perÚ, en donde el 25% de la poblaciÓn se identifica como indÍgena los lÍderes se quejan de racismo y discriminaciÓn. >> mientras tanto que en brasil renuncian explotaciÓn ilegal de sus recursos y hostigamiento a sus comunidades en venezuela se quejaron ademÁs del olvido estatal >>> no hay agua, carreteras >>> atender las necesidades de sus comunidades ancestrales es el llamado general en este dÍa internacional de los pueblos indÍgenas en el salvador samuel arias, noticias telemundo. >> ¿quÉ le parece? >> ¿quÉ le parece? >> es considerada de la mejor ♪ ♪ “abierto”. es una palabra hermosa. vecindarios...“abiertos”. negocios..“abiertos”. canchas...“abiertas”. ¿a quién no le gusta un mundo “abierto”? oficinas... hogares... escenarios... metas... tu mundo. abierto. y tú puedes ayudar a mantenerlo así. ♪ ♪ en metro by t-mobile ahorras más con una línea 5g sin límites a mantenerlo así. por solo $40 y punto. este es el precio más bajo en prepago.

. >>> occidental pulling back in the free market following that 10% gain on friday following news buffett'sceived regulatory permission to buy 50% of occi buffett is not expected to bid for control of the company, he hasn't communicated that to management, which would be his style. >> right, this is a beacon in that it had a bad balance sheet and he got involved. they're still drilling this is as close to a creeping tender offer as they've seen in a long time. and they're saying it's not going to be. >> no. we had wondered whether or not he would go for the whole thing. >> right >> given how much he clearly likes it but it doesn't appear that he is that's based, again, on "the journal" citing people close to the situation who indicate there are some benefits to going over 20 in terms of being able to consolidate certain things, and the dividend so there are some other benefits to that. and obviously he likes the fundamentals of the business, no doubt about that to his credit, remember that preferred that he bought i mean, when they -- just to help them finance the anidaco deal and the ge pr

jorge: mientras en francia se combate en los incendios el resto de europa occidental continÚa luchandohacerlo pronto, es que casi el 14% de los menores de cinco aÑos en nueva york no estÁn inmunizados contra la polio, la periodista mexicana entrevistÓ a camilo ochoa, ex narcotraficante que ahora se dedica a crear contenido en redes sociales, Él le revelÓ sus relaciones con el chapo guzmÁn. >> se les empiecen a voltear unas gentes en mazatlÁn... leÓn: este mucho mÁs hoy por la noche. ilia: fernando, un empresario que durante aÑos fue el hombre de confianza del polÉmico cardenal mexicano norberto rivera estÁ en problemas, fuentes y documentos obtenidos por univisiÓn indica que peiro enfrenta una investigaciÓn del fbi por posible lavado de dinero, gerardo reyes tiene mÁs detalles. la voz que se escucha es la de un informante federal que le propuso al empresario fernando lavar dinero de una organizaciÓn narco guerrillera de colombia, peiro que estaba en su apartamento en ciudad de mÉxico no lo deja terminar y le ofrece un menÚ de opciones. estas conversaciones y muchas mÁs estÁn en poder d

emergencia climÁtica en georgia la fabrica de paneles solares mÁs gran de del he pis hemisferio occidentallores. se perdiÓ el 90%. es mucho. >>> las temperaturas bajaron a 27 grados en plena primavera. >>> hay un desequilibrio a nivel del clima. >>> a solo 2 horas de su granja, le apuestan la soluciÓn. se encuentra la fabrica de paneles solares. la mÁs grande del hemisferio. funciona 7 dÍas a la semana, las 24 horas. produciendo mÁs de 13 mil paneles solares al dÍa. cada panel lo forman 32 cÉlulas fotovoltaicas impresas en fotografÍa 3d. >>> que pueda absorber el poder del sol. >>> enrique se encargo del control de calidad. >>> se observa que todo este bien. no estÉn quebradas o rayados. >>> utilizar la energÍa solar para mÍ es importante. es algo que me motiva dÍa tras dÍa. >>> el estado es octavo productor de energÍa solar del paÍs. espera convertirse en lÍder de soluciones de energÍa limpia, vehÍculos elÉctricos y paneles solares. >>> como el mÁs joven en el senado, john... lidera las negociaciones en la lucha contra la crisis climÁtica. pero tambiÉn sabe que invertir en energÍa solar e

la noche del pasado 20de julio la víctima fue ultimada a tiros las autoridades catalogaron como occidentalidos el sindicato de policías indica que estos incidentes se puede provenir algo que ya no ocurre con más de cinco años luego lo que pasó es que el distrito escolar desmanteló al que era la policía de la escuela la verdad del distrito escolar debería haberlo mantenido a las escuelas a través de las autoridades escolares no se han pronunciado sobre el caso pero si le hicieron al departamento de producción de violencia esto para dedicar más recursos para intervenir en las escuelas y ayudar a las familias afectadas en más información esta tragedia se suma a muchas otras que siguen atrayendo a nuestras comunidades pero cómo podemos los padres de familia ayudar a los hijos a lidiar con estos problemas ? un niño de tres años fue baleado en su propia escuela por el estudiante esto ocurrió este lunes en oakland-que se recuperará en esto se suma una lista nacional de eventos trágicos aunque parezca simple lo primero y más importante que podemos hacer como padres para ayudar a nuestros hijos es

mujeres y niÑos golpeados en su comunidad en clavada en las zonas mÁs altas de la sierra madre occidental misiÓn artemis que despega el prÓximo dÍa 29, un nuevo reto para regresar a la luna. >> revive la familia aams en una serie de netflix y tiene un elenco con raÍces latinas. >> mi deseo es que shaquille o'neal fuera mi hermano mayor. para una excelente tarifa baja y casi 60 años de cobertura de calidad, únete a the general. ♪good vibes by moa l.m. munoz & ryan t. short♪ y casi 60 años de cobertura de calidad, ♪♪ ♪bout to get down, living it up♪ ♪never touch ground, never enough♪ ♪bout to get down, living it up♪ ♪never touch ground, never enough♪ ♪got me feeling good♪ ♪vibes♪ ♪♪ ♪got me feeling good♪ ♪vibes♪ ♪♪ ♪everything's everything's alright alright♪ obtén más capacidad de almacenamiento y una funda gratis durante el pre order en t-mobile. ♪ (vo) ¡el sabor de cinnamon rolls, ahora en cereal! prueba el nuevo cinnamon toast crunch rolls. (voz) en beneful sabemos que una vida plena no es casualidad; es tomar la decisión de perseguir lo que amas y atreverte a saborear todo lo bueno que

holdings that include exxon mobil, chevron, occidental petroleum, good for you.nd is doing incredibly well. what kind of a reception have you gotten from this? >> incredibly positive. one of the top etf lodges of its kind. i think that that reflects the will of the everyday citizen to be represented properly. most people do not know. as they start to know, you know what, i don't want my money abused by some other asset manager that is speaking on my behalf, mandating companies to be doing things i don't want them to be doing. i don't want $5 gas to one-handed my four okay subsidizing something without me knowing what is going on. between june of 2018 and the last of last month, july of last year, they outpaced u.s. technology companies. stock prices trail dramatically. why is that? this asset management industry, what it does is it applies low-price to energy companies saying that there will be this great energy transmission. no fossil fuels after 2030. let's wake up to the reality that fossil fuels are not going anywhere anytime soon. if u.s. energy companies st

of some lightning strikes in northern sonoma county, maybe near bodega bay just after about 7.45 occidental about 7.57 said rose about 8.13, and cloverdale at about 8.38. now we do have a self. it's a little further to the south. that one looks like the tower started claps. usually these thunderstorms last about 10 minutes on average. but you get toward the afternoon it a little afternoon heating going on and they can to continue to maintain some strength that one looking like it's falling apart a bit. but we're tracking right now over all of that moving on shore, about 7.30, for south san francisco at about 7.50, in temperatures go proper about 8 o 2 that comes on shore. the possibility not only rain but maybe a little lightning guys. back to you. dozens of major u.s. companies are asking the supreme court to allow for a bit of action in college admissions. affirmative action is a policy that considers race, gender, sexuality or nationality in admissions or hiring 80 big companies, including google, apple and general electric argue that it is critical to college admissions and the resultin

and i have included occidental petroleum.hire hathaway has a 19% stake in the energy company and we know energy companies have been kingmakers this year and that is the best stock on the s&p 500 year to date. tom: laura wright on the fortunes of berkshire hathaway. and what it tells us about the health of the u.s. economy. softbank's leader is speaking. they are speaking at a briefing right now in japan. any lines that cross, we will bring those to you. coming up, as fundings for start ups fall across the globe, africa is standing out as a notable exception. we speak with the cofounder of piggyvest about that story. that is up next. this is bloomberg. ♪ tom: welcome back to the open. we are 41 minutes into the trading day. gains of .4% across european equities. caring the strength -- paring the strength we saw earlier in the session. let's get back to the geopolitics particularly of kenya. that country heading to the polls tomorrow for one of the closest elections in the nation's democracy. the country is the region's biggest

the corporate stories with courtney reagan >> thank you warren buffett adding to the stake for occidental it paid $91 million between august 4th and august 8th. this brings the stake to over 20% or 188.4 million shares with $11 billion. at this level, berkshire could record adding billions of profit to the bottom line >>> and alibaba petitions to convert the shares to secondary status the effective date of the switch is expected by the end of the year alibaba says the move will allow to expand access to china and other investors. >>> shares of bed, bath & beyond popping after the 30% move yesterday. the highest volume day ever going back to the 1992 ipo dom, no apparent news pushing the stock higher, but reddit traders are jumping back in. 45% of the firm's float is shorted. it is also gamestop and amc which is getting the new love. the meme traders are back at it, do dom. >> a cycle they come in and out you never know >> it is wild. on some of those days when bed, bath & beyond is up, it is really up. for no news. >> i remember doing the market check yesterday with gains and thinking it

obje occidental as well you look at the name berkshire and we put out a report on cnbc.com saying 70% of the holdings are concentrated in five stocks. that tells you about the big concentrated bets. warren buffett goes into something with a strong view of how it plays out not over quarter to quarter posting the accounting, but the next three-to-five years sdp. >> a huge time horizon this is interesting. the broader question that i have right now in the market is who has been benefitting from the rally? they heare sitting with huge amounts of cash. that was the view of many investors. there wasn't enough value in q2 to put the money to work with the macro back drop. the stock has rallied. is it the algorithms benefitting here i think the trade higher we have seen in equities has been painful for a lot of investors it seems berkshire is one of the investment groups and fund managers which suffered. >> it is interesting that the rally actually started to turn in july. after many of these companies would have reported the quarterly earnings that is a positive thing heading into the third

susan is with me looking at movers, occidental.the green light to buy 50% of the energy stock, now berkshire, his company, has already said they have no intentions at least for now, to take over occidental, and that's despite buying, you know, he bought more apple, occidental in the springtime. berkshire has $100 billion-plus of cash on hand so if he wanted to he could but energy as you know, the oracle for a reason and energy sector outperforming this year up 40%. stuart: they got $100 billion. >> yes. stuart: in cash. >> yeah. stuart: ready to make acquisitions if that's what they want. >> well okay so warren buffett usually holds a lot of cash. he's been spending it during the spring time, when he finds the opportunity to do so. stuart: okay, you got to move on to the what's it -- >> the meme stocks. stuart: amc what's it down now 38%. >> we're also showing you their special stock dividend as well they just listed called ape, and it's for their retail investor fan base, called the amc apes, so that makes sense but unofficial sto

. >> one of the things that makes occidental so attractive is they pay down an enormous amount of debts is a cash flow generated. is beginning because again, companies are able to actually make a creative deal and they are not doing the deals that they were doing 10 years ago. i just get back to when i look at a exxon, they are run differently and i think you can be an investor in energy much differently. i think the gop geopolitics are a tailwind. the weighting of the energy sector is under 4%. at its peak it was over 16%. i think they have a ways to go there. >> why is that >> tell me? >> maybe a few local people going through. >> 50% where i live. 50% teslas where i live. >> energy did nothing for five years. i hear everything that guy and kim talk about, even karen, but i still believe it's priced to perfection at this point where you have had such an enormous outsize run in the energy space right now, i would be taking profits. >> i think they have to put chargers and waffle houses, that's my idea. it's a perfect synergy. if you are listening elon. coming up, amc sinking in today'

this is not good for the bulls they are proxies for inflation when you see occidental, that's a new high, and the stocks that are very related to natural gas activity, lie eqt, devan is a big company, the bulls don't want to see that semiconductor, it's really uncertain. gaming has been weak, data centers are kind of unsearch intel, that's a new low one of few chip stocks. good sign for the bulls is the consumer staples that's a sign that they're nibbling on a bit more growth stocks so that really hasn't completely dissipated. we've got a couple stocks. like hershey's, for example, at 52-week highs. >> everybody loves chocolate, no matter the matter. thank you, bob our next guest, as signs point to things get worse before they get better, but that doesn't mean there's opportunities as jim cramer says, there's always a bull market somewhere we're going to talk with chris crisanti you call this a bear market really, what we've got in for the past couple months one reason is you say the fed is no friend of the market, and people who are seeing the early embryonic signs of a so-called pivot,

who has been winning obviously energy best s&p 500 stocks this year, occi occi occidental petroleum hess75% devon energy up 68% this year. random but other interesting winners this year? consol energy. up 229%. they mine coal a coal company lantheus company and eqt is up 129% and bizarrely? this is fascinating. h&r block. the stock doubled this year. the tax rules and confusion of the ppp and covid cares act boosts the tax prep business those are not names that get a lot of attention on cnbc it goes to show and maybe you have to take a look under the market hood to it find stocks that are a bit more random and interesting. >>> earnings alert b baidu with a stronger than expected recovery for the quarter. when everybody is stuck at home eyilbee of the covid lockdowns, th wl on the internet we're back after this. >>> all right. welcome back let's get set for the trading day ahead. degas wright is with me. i think every time you are on, futures are up that is a weird cosmic thing we like it stock futures have been higher it has been a rough couple days. what are you telling your clients abo

berkshire hathaway, not a hedge fund, but picking up a lot of occidental petroleum. very recession preparation mode, picking up a significant chunk of colgate-palmolive. dani: charlie wells breaking down those filings. the corporate news for bhp, the world's biggest miner, posted its biggest ever profit. the producer plans to push ahead with growth options on a stronger demand outlook on china. >> we think china will be a tailwind on growth. we can see positive growth support of policy settings in china as they come out of covid lockdowns. we think over the next six to 12 months, china if anything will provide stimulus to global growth that will offset what we see elsewhere. dani: let's bring in our asia energy team leader. the string of record profits for the mining and metals companies continues. what does the outlook look like for bhp and its peers? david: full of surprises today. we saw bhp deliver record earnings. maybe the biggest surprise was its bullishness on china. certainly compared to its peers. china the biggest commodities consumer, the biggest market i

energy one of the problems is oil company profits are expected to be lower in 2023 so big names like occidental and exxon and chevron, their earnings estimates are going to be lower next year than they are this year and the reason is because oil's expected to be low. look at this futures curb for oil. we have expectations for oil a year from now at $82 yesterday, it was at $90 it's been moving down. getting there quick. oil generally means lower oil profit it's simple. if you want to talk about the problem with energy stocks and why they're out of favor the market is snipping out a peak in the fundamental oil story. that this may be the peak oil. as a result, the 2023 earnings estimates are lower than 2022 and jon, that's a problem for the energy stocks right now but, if you're a big bull and you want growth stocks, you're loving this action in technology the area you cover so well >> thank you is it kind of energy oil versus everybody? is that part of the market story that the idea we hit peak inflation, certainly in energy and that means that everything else, particularly growth that had take

occidental patrol yum and you're saying what -- petroleum reports after the bell and wall street is expecting strong earnings and revenue. the company has been making headlines recently as a warren buffet favorite with berkshire hathaway scooping up stock over the past four quarters that is now controls 19.4% of oxy shares and some analysts are anticipating that buffet will buy the whole company. over the years, many a fund manager and investor have been branded as buffets in the making but never a cryptocurrency guru till now. the billion mare launching several rescues of dis-stressed cryptocurrency companies is now getting that comparison. ftx ceo sam bankman-fried is here to talk about buffet-like bailouts and what buffet likes to say being greedy when others are fearful. the comp with buffet is not a total stretch if you put aside the fact that he said bitcoin is rat poison squared. what do you make of the fact that -- is it forbes saying you're just like buffet in how you are scooping up dis-stressed assets? >> i mean, just like it is maybe a bit of a stretch, but i think one thing that'

liz: teddy, you like occidental petroleum and cortevia is a agricultural play. why do you love this? >> i think investors need to have exposure to agriculture n matter what. you know, we like corteva and came out of the dupont break up and they're in the seed business, but there are a lot of ways to get exposure to agriculture. for us, the theme is agriculture. the name is corteva but there's other names, john deere, the big one. >> i agree with the themes and i think gold is underpriced and the mining stocks are very underpriced because people believe the fed is going to be victorious in its fight over inflation and if the fed isn't, they believe recession will do the job for the feds, but it won't. inflation is going to get a lot worse as result of this inflation getting worse so we're going to have the worst of both worlds and have high inflation, higher than now and even deeper recession than the one we're in now. i think in that environment, gold is really gonna shine and i think investors will end up doing very well if they pick up some of these, you know,

energy, we've been talking about these natural gas stocks and occidental is at a 52-week high today and devon and range resources have been having great moves up as nat gas has hit 14-year highs and consumer staples are a mixed group and that's good when they're for sale because more defensive names are down kimberly-clark was doing well, hershey's and it hit 52-week high in fact, seema, and popefully powell can give us a better narrative, more bullish, more bearish and we're floundering between the two narratives >> hopefully we'll get clarity now to the bond market where yields to continue to rise ahead of jackson hole. rick santelli tracking the action. >> yeah. there seems to be a lot more clarity when it comes to the fear in the interest rate market everyone thinks the symposium will be very, very hawkish and maybe they'll be correct yields definitely are rising and i don't see any way the fed is present will the hawkish phase and today it got ever closer 15 years at 14.43% as we hovered under 3.4% if you look at what's going on overseas and the same scenario the 10-year in the uk

the same time, energy is mounting another big rally, and really as i said don't want to see that occidentaleral times, 2% from a new high, 127. exxon's probably 103, 104, 4% from the new high, marathon also moving the big issue that everybody was dealing with over the weekend is, what's next after jay powell we're entering a seasonally weak period right now, september is seasonally weak, that's going to matter now is how well the earnings hold up we're still up, earnings, but lower at this point, 5 or 6% growth in the s&p 500 and the kmik data is what matters at this point, job support on friday and job growth, and we'll get the cpi, the consumer price index on september 13th. then we're going to get the sell side put up the full screen, i'll show you what's going on very big conferences that start after labor day here, including big names, barkley's going to have a consumer staples conference, evercore will a media and tech conference, wells fargo is going to have a health care conference that's going to happen citigroup, and goldman sacks has a retailing conference, the first week of labo

years so what weave been trying to do is get growth out of companies that normally don't grow like occidentalroleum, like d.r. horton is normally just a very cyclical company, but there's 92 million millennials that want a house. so whether whether we want a recession doesn't matter to us we just want to build houses the next ten years and let the chips fall as they may. >> so why have the home builder stocks -- i asked shiller, why are those stocks so lambhammered why are the builders which is preposterous >> no, it makes some sense because of the horrible, ridiculous debacle in '02 to '06, literally bludgeoned everybody in the industry. our transmission system of our economy, et cetera, et cetera, and so people were afraid we were going to get a boom bust like that. so the analysts that follow the homebuilders and many people that work in the industry now cut their teeth in '04, '05, and '06 and they're scared to death. remember, the three biggest home building peaks of the last 60 years were 1972, 1978 and 1984 and those were at mortgage rates dramatically higher than we had now, but there

the wti is down 2.5% at 92.54 and brent crude around 99.37 i did want to point out shares of occidentalthe stock hit the highest since 2018 as berkshire hathaway scoops up shares wti has fallen quite a bit since breaking up about 130 in march and the energy companies are still making money globally, oil and gas producers are on track to report a record $1.4 trillion this year in free cash flows and that's according to a report released today by deloitte >> pippa, thank you. earlier this hour we heard from james bullard saying that investors are mispricing inflation and he expects that higher for longer. he also admitted that the fed is taking recession risks and no one can predict if that can happen, and his comments come ahead of the fed speech tomorrow and let's bring in castellini and jerry, you've been looking at ways that investors can protect their portfolio from inflation. tell us why? >> well, the fed has the same problem you and i do and basically the economies of the world. we just can't predict today how long it will take high rates to slow inflation we can't predict how long

like freeport mcmorran rallying back and some of the well known oil companies like apa, devin, occidentalvron doing well and that's one reason the overall market is up and another reason, ten-year yields were popping and we were up 18 basis points in the ten-year and when you get something like that, usually you'll see bank stocks rallying and that's the second leg that's holding the market up j.p. morgan and some of the super regional bank like fifth-third, science and wells fargo all moving to the upside as for the key rally since mid-june, tech stocks, mega-cap tech, they're down and not down much and there's no aggressive selling and i look at the volumes, apple, lam research, nvidia is up 20% in a month and when i look at the volume, yes, we're down and there's no one looking to get out in droves and very modest selling pressure and consumer discretionary will be on it and we had ylan talking about it and delaying the cyber truck that everyone is so interested in and individual stock storage there. overall, i would have to say inflation was much stronger. wage inflation was much stro

what they want, they don't want energy stocks even though we had good earnings reports today from occidentalhad some names and pion ear raised the dividend 1% and they sold into it and other big names in the markets down on oil and $91 rate now peopl and people don't think profits will be as high as they think. they're shooting against jim bullard. the earnings are lower for q3 and q4 and not that much lower and there's certainly no earnings recession forecasted right now. oil is definitely on the down side and the ism services numbers, tyler, new orders higher and prices are still up and increasing in a slower rate and that's an increase for a better fourth quarter. >> thank you now to the bond market tracking the action in chicago. rick >> hi, tyler many are looking at durable goods and the orders and yes, they were better tharn expected and better than the reits on durables and they weren't spectacular and when i look at the ism services sector, it's basically coming off 25-month low levels as are s&p global services and composite coming off basically the lowest levels and those two are a

backward looking year over year, you have the different calculous here everybody seems to love occidentalroleum why do you also? >> you can't find warren buff oat this one if he's one of the ones he likes, i'll have to agree with him there. energy in general it is a still a good play as you see energy prices come down it leads to more of a buying opportunity here and they've put themselves in a good position where energy prices were higher and they paid down in a lot of debt which puts them in a good position. keep in mind they make money when oil prices are lower than where they are at now and we're talking about it getting under $90 a barrel right now oil prices are much higher than the point they make moneyy and from a longer term perspective it's a great idea. if you see warren buffett and berkshire hathaway >> let's talk home depot i take it you're a fan >> home depot has gotten overly hit on the concerns from housing which is one of the things that is sleing right now. home depot, your customers with home depot, they're people who own houses and they're not affected by the changes i

>> i query, why occidental, which is obviously warren buffett's favor, we we can own something like theing everything right with a big yield. very good growth. that is the way to go. much more conservatively managed and owned by our charitable trust. let's go to josh in arkansas. josh. >> jim, thank you so much for taking my call. >> of course. >> best part of my day is waking up and listening to what you say about where the market will be for the day. absolutely honored to speak with you. my stock, i doubled my money over the last couple of years. trading technology, stock plc. >> i like trane very much but i am going to ask you to get off that train and go to carrier! you have got a lot more inside. we are not done. we are going now to susan in florida. susan! >> hi, jim. we are longtime viewers and have really enjoyed your show. i own shares of stanley, black and decker, and right now, it is 20%. >> we don't care, susan, where a stock has been. we care where it is going to. stanley has had a very tough time. two quarters. 10% downside, maybe 35% upside. it's a mess right now. how abo

sandoval: narvÁez no era la Única occidental secuestrada. narvÁez, a pesar del maltrato al que era sometida, siempre desafiaba a los secuestradores. narvÁez: se enfurecÍa tambiÉn con ellos, los insultaba, les decÍa "ustedes son satÁnicos, ustedes son el demonio". sandoval: 6 meses despuÉs del secuestro de la monja colombiana. >> yo soy gloria cecilia narvÁez. sandoval: los terroristas la pusieron frente a una cÁmara para que diera una prueba de vida al mundo. en colombia, su familia la encontrÓ casi irreconocible. edgar: el rostro de ella al verla fÍsicamente acabada, sÓlo de verla nomÁs se nos fueron las lÁgrimas. fue muy duro, muy duro. sinceramente, no sÉ cÓmo aguantamos todo esto. sandoval: despuÉs de recuperarse del impacto para edgar narvÁez, el dolor se convirtiÓ en coraje. me imagino como hermano, usted dijo "la tengo que encontrar. hay que buscarla". edgar: llamando a la policÍa. le hablÉ a la policÍa nacional, llamando al presidente, llamando a las embajadas en toda parte. embajada de malÍ en ghana. ¿quÉ pasÓ? ¿porque sucediÓ esto?

>> exactly we've owned occidental instead of there and all of the energy and the tactical model that i am the portfolio manager and we booked profits last week with energy we think demand is still going to be there and i don't see a recession and pigs get fat and hogs get slaughtered it's an old term we use. >> our first guest fromm alveon and nothing too dramatic and it will be hard for them to make that prospect. what do you say? >> i disagree. look at the u.s. treasury marks. they're not buying into the hawkishness that these equities are with the selling price that we're seeing so i think we're half way through and the last meeting and we have to take a big, deep breath and continue to see volatility, but the fed, i believe they will do chicken the walk i don't i don't see a recession. jeff gilbert have a good weekend. >> you too. >> fed shares getting stuck as the fed fights inflation the dow is down about 750 points the nasdaq down 3% and every sector in the s&p 500 is lower this week except energy. a gain of more than 4%, plus he sprae interest rates, we'll diver into the hous

remember, these are inflation and the bulls want to see the opposite here and that's a new high for occidental. hess is right near new high and maybe 2% away and common is 3%, 4% from a 52-week high and marathon is on the upside and chevron is helping the dow today. the other thing is these natural gas stocks, there are companies that are more natural gas oriented like apa and pioneer, coterra and pioneer has a natural gas component and that reflects, of course, all these issues going on with natural gas over in europe other than that, it's mostly defensive stocks that have been holding up throughout the morning and rally back the suspects, archer midland, campbell and big-cap tech is to the down side, but off of the lows and apple has had one amazing run and remember, they were 130 at the bottom in june ask it went 175 a week or two weeks ago and now they're back down at 162 and that's pretty good can't say the same, and microsoft is a round trip this month and that's a round trip of microsoft this month and micron and nvidia same thing and semiconductors tried to rally in the middle of the m

, they made a bunch of money, but trimming the ev exposure and going very long oil and gas with occidentalho'd have thung it. >> exactly. >> appreciate it >>> see you soon back on wall street, stocks a trying to reverse some of yesterday's losses the nasdaq a little worse trying to end the month in the red or not trying to, it might for the fourth time in five months all this investors growing concerned that fed chair jay powell and his team have lost the confidence of the market joining us now is managing director annika triam i read note after note on wall street from the states, from europe, and almost all of them say the same thing does anyone have any confidence left in the federal reserve to fix the problem that it and its qe program and all the easy money of congress and by the way, central banks around the world created in the last number of years, and of course that is inflation. do you have confidence in the american fed >> well, the interesting thing is the good news is that the fed knows that the market has lost confidence so powell and team are trying very, very hard to rebuil

correct me if i'm wrong, warren buffett owns 20% of occidental petroleum.f people are saying these oil and gas companies. they are the fossils or dinosaurs. to your point about owning things forever, it is clear that warren buffett or somebody at berkshire is not necessarily betting that oil and gas companies are going to die any time soon. >> that was the one add from tepper got out of technology names, but jumped into energy name. >> yeah. carl icahn we had data. decreasing the holdings in the small mid size refining company and decreasing holdings in cheneire energy. if you owned them the last couple quarters, warren buffett made a lot of money. >> the same time buffett was buying whales are circling each other >> just billionaires trading stocks among each other. wouldn't it be nice? >>> we have more to do and we will talk more about this. we will talk about dan loeb's stake in disney with michael natanson and sara fischer. why he wants espn to spinoff. >>> and the impact of the inflation on the markets dom chu is back to crunch the numbers. >>> as we h

this is on the big move up in natural gas we've been seeing in the last few days, but halliburton, occidental and schlumberger on the upside the commodity plays have having a good day freeport, mosaic, cf industries, these are fertilizers, mosaic and cf primarily, all moving nicely big tech, call it either side a positive or negative apple flatish. alphabet nvidia up nicely micron on the flat side. what's been weak is the defensive sector big pharma not having a good day. neither is united health the health care sector a little bit on the downside today. remember, these are defensive plays. what's going on here remember, everyone is afraid that jay powell is going to sound more hawkish, but the bottom line, one of the reasons the market is holding up is the data is supportive of the economic slowdown that all the bulls want and that they want to hear jay powell talk about look what happened today new home sales, lowest since january of 2016. pmi services, lowest since 2020. pmi manufacturing, lowest since august of 2020 jon, all of this is good news if you are a bull an want to see data suppo

look at this, we're down noticeably, 91 occidental which has been a new high recently down big todayore natural gas oriented energy stocks like apa also down rather noticeably today, and the oil service names like halliburton and schlumberger to the downside material stocks, they're proxies for global growth, here not such good news. to the extent they are proxies, very bad day, freeport's been moving down. it's now in a down trend, one of those occasional down trends, it was 34 on friday look here, you see 29, now below $30. mosaic, nucor, cf industries. sub sectors of the materials also to the downside today one sector that's holding up pretty well, though, bank stocks we actually have a number of the big money center banks like bank of america and wells fargo in positive territory jpmorgan, regional banks only down fractionally right now, higher rates helping them and signs that the consumer is still holding up pretty well also helping them as well contessa back to you. >> bob sans glasses pisani, i like the look, thank you. >>> now to the bond market where the yield on the two-ye

investors begin to price in a recovery before the data bottoms, these, i think, will all be winners so occidental pe ttroleu multiple 3m, kelly, 3m has increased its dividend for more than 20 consecutive years and it's got a healthy 4% yield, never mind it beat its earnings top line and bottom line and is going to spin out its health care division this is another stock that should do well, and then finally, honeywell, you had just put on the previous segment should benefit from the inflation reduction act, and again, another company that beat on both earnings and revenues and i think will benefit from an increase in spending in the aerospace and defense industry. >> yeah. >> as you look at -- let's flip over to the bond side, and as you look at where yields are and you look at the inversion that is there between the 10 and the 2s and the 5s, what does that tell you u you say a recession is inevitable, but not imminent does that confirm your review? >> it does what it tells me is bond investors are pricing in a recession. ed yardeni mentioned it as well. short-term yields are rising because the fe

that could be helping this stock, the name and why next >> also take a look at shares of occidental petroleumtors have authorized berkshire hathaway to buy up to 50% of its common stock. bshg berkshire file an application back in early july for permission to make this purchase and we know they've been involved with the shares for quite some time and it is up 6.5% on news that rkirbeshe could buy up to 50% of the company. we're back after this. >>> welcome back rising prices have let lower income consumers to change their spending habits in several categories especially food kate rogers is looking at the impact that's had across the restaurant industry. she joins me with the stocks that are the biggest winners and losers kate >> we've heard all season long about consumers at different income levels seeking value with the lower end consumer starting to pull back a bit new data underscores that point in the food space broadly with lower income consumers stretching dollars by eating more frozen and shelf-stable foods and cutting back on restaurant visits. right now mpd says households under their

we had a terrific earnings report from occidental, just terrific, pioneer natural also, crazy dividend, almost 8% for pioneer natural, they sold right into it, right at the open oil collapsing today down 91, midday doesn't help a lot, but a machi marathon, no energy in these stocks for whquite some time here is what i see, the momentum is definitely with gret, technology, the earnings for the third and fourth quarter are slightly lower but not much. they certainly do not indicate any kind of earnings recession oil is definitely lower, that is a big plus for the bulls who believe it is of course a front for inflation. ism services today the new orders were higher, that's good, prices are still increasing but a much slower rate take a look at the vix, this is why the stock market is ra rallying maybe it's not quite goldilocks but we have a potentially slower economy that doesn't indicate any serious recession, prices are still high but starting to moderate a bit and the vix is skauming down, while not quite the lowest levels we have seen in a while, a couple days ago it was lower but ess

they are big buyers of occidental petroleum they are making money. >>> in other corporate news, japanese firm softbank posted a $23$23 billion loss last quarte. they looked to raise cash and sold stake in uber and opendoor. think about that could you lose $23 billion in a quarter and still have your job? probably not. >>> we have more to do on "squawk box. roger ferguson on the next move from jay powell and hadthe fed? >>> check out the biggest winners and losers as the market has been on a win streak tesla and viatris and solar edge technology they could do well on the bill just passed. and monster beverage and norton and penn entertainment rbat beresnd i.t. security and caonedevag go figure. we're back after this. 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. become an agent of innovation with invesco qqq ♪ ♪ we all need a rock we can rely on. to be strong. to overcome anything. ♪ ♪ to be... unstoppable. that's why the world's largest c

working class americans are sick and tired of oil companies and tech companies and amazon.com and occidental petroleum and nike, all these massive corporations over the past several years paying zero in taxes. you look at these numbers, willie. 77% like the democratic plan to place caps on prescription drug price hikes. they like the plan to allow medicare to finally get to negotiate with big pharma. 77%, 73%. 73% like the limiting out-of-pocket drug costs. 73% like reducing the federal budget deficit, even though donald trump and republicans hate that and have proven that by blowing a hole in the deficit over the past five years. they like tax credits for renewable energy tech. they like actually making the largest multi-national corporations in america pay a minimum tax. it looks pretty popular. so i'm going to be curious to see all the republicans who are against this, actually this anti-inflationary package that actually lowers the deficit. >> those numbers are not just among democrats, we should point out. that's among all americans. you have three-quarters of the country supporting a l