pimco, a global leader in active fixed income. what if you were a gigantic snack food maker? and you had to wrestle a massively complex supply chain to satisfy cravings from tokyo to toledo? so you partner with ibm consulting to bring together data and workflows so that every driver and merchandiser can serve up jalapeño, sesame, and chocolate-covered goodness with real-time, data-driven precision. let's create supply chains that have an appetite for performance. ibm. let's create. >>> welcome back to "worldwide exchange." we have fphillip mena with the latest in new york >> and the earthquake felt in the capital of mexico city there were no other reports of damage, but an hour earlier, mexico ran an earthquake simulation marking the anniversary of two quakes on september 19th, 2019, an earthquake killed 400. >>> hurricane fiona has strengthened to a category 3 storm. it pummeled puerto rico and the dominican republic two people died as a result of the storm. president biden spoke with the puerto rican governor vowing more support in the coming days. more than 300 personnel a

pimco, a global leader in active fixed income. >>> welcome back to "worldwide exchange." let's get a check of the other top headlines with frances rivera in new york >> good morning, dom bermuda is on high alert as hurricane fiona is barrelling toward the coast president biden signed disaster declarations to help puerto rico >>> and judge raymond dearie has given trump's legal team until next friday to provide evidence that the fbi planted the evidence in his home mr. trump's lawyers must provide reasons why they believe any specific dock uments should be designated as private or privileged both will appear on october 6th for a status hearing >>> now to a north showdown in cleveland and veteran play from the rookie wide receiver >> second and three. trubisky on the move down the sideline. and reaching up for it is george pickens. >> known for the one-handed grab the highlight set up the steelers first touchdown of the night. the night that belonged to the browns a pair of touchdowns as cleveland hammered through the steelers defen

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pimco, a global leader in active fixed income.rk in it complaints are part of the job. bill says the coffee is weak today. but since cdw helped us switch to mac, everyone's happier. dan from finance likes getting performance without a big price tag. bibi digs the power of the apple m1 chip. mac is easy to manage, compatible with all our apps and came preconfigured by cdw. now we're even getting compliments. that was bill again, says he loves his new mac. he's right about the coffee. another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities. (vo) with their verizon private 5g network, associated british ports can no

pimco, a global leader in active fixed income. i've always loved building things.ures and skyscrapers, but teams who make it all possible. after all... we wouldn't be where we are today without them. so we made sure that like these buildings... their futures may also stand the test of time. ♪ ♪ ♪ ♪ our internet isn't ideal... my dad made the brilliant move to get us t-mobile home internet. oh... but everybody's online during the day so we lose speeds. we've become... ...nocturnal. well... i'm up. c'mon kids. this. sucks. well if you just switch maybe you don't have to be vampires. whoa... okay, yikes. oh sorry, i wasn't thinking. we don't really use the v word. that's kind of insensitive. we prefer day-adjacent. i'll go man-pire. >>> as we wrap up our coverage of salesforce's annual dreamworks conference i'll take a closer look at a business they bought last year it's called slack. popular business collaboration platform they spent 27.7 billion for this asset. and since the deal closed they've worked hard to integrate slack's technology into all of this core platfo

pimco, a global leader in active fixed income. welcome back to "fast money. as if a on interest rates weren't enough, tomorrow in washington the ceos of the nation's big of the banks will be on capitol hill in front of the house financial services committee. jp morgan jame jamie dividend and bryan moynihan and charlie sharp all there to talk about the economy. they're hiring practices and much more. here to tell us what they are expected to say, leslie picker >> mel, the title of the hearing is quote, holding mega banks accountable, over sight of america's larger consumer facing banks. financial services committee majority of staff say they're looking for the ceo's to address a variety of issues including consumer protection and diversity and inclusion and diversion in the banking smm the kre's adroesed those topics. many of thome touting the role they played during the pandemic, processing ppp loans and waiving or lowerer overdraft fees an raising minimum wages of employees. they addressed what they're doing to promote diversity

we speak to tiffany wilding of pimco.s is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. ™ joe: i am joe mathieu with first word news. liz truss said she would tackle the energy crisis while still cutting taxes. she addressed the idea of a windfall tax on energy companies. pm truss: i believe it is the wrong thing to be putting companies off investing in the united kingdom. we need to be growing the economy. joe: she said the u.k. cannot tax its way to growth. the prime minister plans to lay out something tomorrow to help with the crisis so people are, "able to

libby cantrill joins us from pimco where she is the head of public policy.o have you on the program. what impact will the passing of queen elizabeth have on d.c.? libby: it goes without saying that queen elizabeth loomed large internationally but also in the united states. the u.k. being one of if not the closest ally of the u.s. over decades. practically speaking, from a policy perspective, probably only an increment of impact. this may give new momentum to the u.k.-u.s. trade negotiations. though started under president trump. there has been some very small baby steps towards a your agreement. -- bigger agreement. in the senate there is an effort to allow for the president to negotiate a trade agreement unilaterally, the fast-track process. maybe you can see some momentum to that. obviously, queen elizabeth had such a big impact not only in the u.s. and u.k. relations but globally. from a policy perspective maybe not so much of an impact. internationally we are all very much impacted. guy, your home country, all of our hearts extend to all the folks in the

pimco, a global leader in active fixed income. >>> welcome back to "worldwide exchange."mething random but interesting. we send it out to brian sullivan for the rbi. >> the rbi is about interest rates and borrowing costs. we talked about national debt the other day. now let's talk about your borrowing costs. our crack team at cnbc put together a painful look at how far costs have risen 30-year mortgage rate is now 6% and probably going higher. helocs are higher at 6.5%. credit cards are spiking 1.5% on average in six months. you want to buy a car? prices for new and used cars are high, but borrowing costs are going up edmunds is reporting you may pay 10% for a used car alone i had to double check it it is all because the fed funds rate surged from 0.2% to 2.3%. what might this mean to you? let's put it in perspective. a 30-year fixed rate on a house is $1,700. wallet hub says the rise in rates increases the cost of credit card by $15.5 billion this year and go up another $5 billion with the hike yesterday. the average rate on the credit card is 18%. the highest since 1996

. >> announcer: the bond report is brought to you by pimco. global leader in active fixed income - oh, the stock market is doing that fun thing again. news from the future: you're going to live through that about 10 more times! (laughs) no stress. i just discovered yieldstreet. they vet investments that don't ride the stock market rollercoaster. - [narrator] yieldstreet: private market investing. >>> more weakness in the tech sector today the nasdaq is flirting with positive territory still off nearly 8% in september alone. our next guest says the bear market is serving up tasty bargains joining us wedgewood partner's cio. you come out and say it that the fed share has at least already broken the stock market in your view. >> yeah, i think they've broken the stock market i think they've broken the bond market look what's going on in currency markets. jim grant has a great line and i've used it in a couple letters. the fed in the past couple of monetary cycles, as he says, the fed has been both the arsonist and the fireman and we're seeing the

pimco, a global leader in active fixed income. >>> all right. 4:0 4:00, that's overtime today.re going to debate the markets stacy rascon, top chip analyst he's on nvidia's big day, whether that stock can get his mojo back, on what he think the fed is going to do and what it's going to mean for the markets from here. let's do final trades. stephanie link, please >> morgan stanley. it has a 3.5% dividend yield trades at 13 times they're actually gaining share in trading they were at a conference last week, talked about $900 million improvement in nii, net interest income sequentially, up 20% year over year, like this story. >> i like when you do the net interest income with nii >> i had to do that. >> i know you had to do that anastasia, final trade >> first of all, i would agree with a bank trade, but i've got real estate, and specifically, apartment reits, they've been sold off this year like everything else, but they have one of the better investment fundamentals, as demand for rentals is very strong, because nobody can buy a house the yield on that is over 3% i would look at

at fidelity, your dedicated advisor will work >> announcer: the bond report is brought you by pimco,l leader in active fixed income. s designed to help you keep more of what you earn. this is the planning effect. we lost about everything trying to pay for prescriptions. we spent our whole pension but couldn't keep up. so my husband just stopped taking his medicine. and then he had a stroke. i can't get back what i lost, but thanks to aarp, a new law will protect seniors with a cap on their prescription costs. that could have changed everything for us. i'm just grateful that no one will have to face the terrible choices that we did i may be close to retirement but i'm as busy as ever. careful now. nice! you got it. and thanks to voya, i'm confident about my future. oh dad, the twins are now... ...vegan. i know, i got 'em some of those plant burgers. nice! nice! yeah. voya provides guidance for the right investments and helps me be prepared for unexpected events. they make me feel like i've got it all under control. because i do. ok, that was awesome. voya. be confident to and through

pimco, a global leader in active fixed income. ♪♪ hey dad, i'm almost out. i got you.s? all good, thanks maura! there you go, one new inhaler! nice did you get my refill too? maybe [door bell] here you go, sir. you're a lifesaver. have a nice day. healthier is managing all your family's prescriptions in one app. cvs pharmacy. healthier happens together have you seen my new phone yet? it like, folds in half. i would never switch to samsung, i love my phone. what??? ♪♪ (...it folds in half.) you see i love my phone. i would never switch to samsuuu... (gasping) ♪♪ >>> i can't believe this happened we're back at the annual festival of technology hosted by salesforce maybe the market is through a meat grind and even though wall street turned against the group, the software hasn't changed that much i say we check in with marc benioff to get a glimpse of the future right behind me welcome to "mad money." >> jim, this is exciting welcome to dream force we're so excited to have you this is like "mad money" between two firm's edition very cool. >> i can't believe it's happening.

pimco, a global leader in active fixed income. >>> let's get a gut check on paypal, the firm fallinge than 2.5% this morning after a downgrade to neutral lowering the price target by $15 a share. the analyst pointing to braintree here, the one-click client paypal acquired in 2013 is projected to contribute 72% of the company's overall growth next year. however, the service also has higher transaction costs and lower yields than the rest of the company's core product the potential drag on overall results coupled with the fact the company is up roughly 30% off its july lows prompting the call to investors to stay put. very interesting that braintree is cited here. that was an acquisition a long time ago that also brought the company venmo and really revived it but of course, this is the take rate there is lower. higher transactional expenses. just when paypal was looking kind of good again, jury is out on whether this is a value stock or a dprgrowth name again. >> there's a bit of a push and pull one upgraded last week and we got a downgrade today. >> coming up next, the highlights fro

pimco, a global leader in active fixed income. >>> time for the final trade brian kelly. >> for me rates bonawyn. >> i would say long volatility of 20 to 30 was the range when you thought soft landing was a possibility and you might increase that rate. >> by the way, it tooks how long to get here? >> two hours. >> wow karen? >> yeah. from that interview with contessa, i think they're for sale cano health. and when you have a lot of giant companies going after a relatively small company, i think you could get some good upside from here. >> probably like three miles or something, the distance. >> do you want to give up and walk. >> 3.3 >> dan >> what is this call time? is it 4:45. >> it was 45 minutes earlier. >> last night it was govt and i'm probably a sleofelr [ inaudible ]. >> >>> my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now >> hey, i'm cramer welcomed to "mad money" and welcome to a special san francisco edition of cramerica other people w

pimco, a global leader in active fixed income.icipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. >>> we're going to have a quick conversation now with btig's chief market technician. it's good to have you on because it was a day or

pimco, a global leader in active fixed income. >>> all right.nd our jim cramer bright and early, or maybe we should say dark and early at this point i saw you tweet a couple of hours ago we are flirting with the 4% the stuck market rallies are fake what happens when we hit 4%? >> well, i think at that point we can reconfigure taking it to 4 by the time we get to the fed meeting tomorrow. and that's why i felt any rally is phony and dispatient of that. the futures indeed were looking okay and joe said 4:00 things looked good then the treasury started moving again. i felt the moment to cooper man about whether 4% is good or not, he hesitated then he talked about a method for 4% a month but 4% is pretty good. that's why i thought it was so poignant >> preservation of capital. 4% over two years with a guaranteed buyer coming back in makes it a lot tougher to look at equities. wall street journal points that out as well. >> i think, as joe said, maybe they have a key note for the obvious. it's such a competitive yield against almost every stock again

. >> so my final question is, you're going back to pimco, you always have an eye on the markets. >> yeah the question is, are we starting to see the peak in treasury yields, with a two-year yield having soared, and the ten-year above 4%. you think there's more to go there? >> i think we're close, because i think this fed does have credible, break-even inflation is a vote of confidence in the fed, even surveying, so i think we'll be near the peak in the bond yields when we get near the peak in the fed funds rate, which would be january >> richard clarida, great to have you. >> good as always. thank you. >>> here's where we stand right now in the market. the dow has taken another leg up we're coming offer of six down days in the market, so quite a nice snap back, following lower yields by the bank of england's intervention the nasdaq is up 2.3%. could netflix's upcoming be a stream come true it's higher by more than 8% -- look, more than 9. at least one wall street firm thinking so. >>> a reminder, you can colon to "closing bell" by following the podcast. we will be right back with the dow

pimco, a global leader in active fixed income.wner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. ™ >>> we still have a problem with covid. we're still doing a lot of work on it, but the pandemic is over. if you notice, no one is wearing masks. everyone seems to be in pretty good shape. >> that was president biden on "60 minutes" over the weekend. vaccines and therapeutic stocks not taking kindly to the president's comments some of the group's biggest losers yesterday have made triple digit gains since the pandemic began as the covid pandemic turns endemic, where do these stocks fit in your portfolio?

first, the real estate sector, the biggest laggard today followed by duke realty, and pimco. real estate the worst performing sector so far in september more power to you in two municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. >>> there you see the dow down about 300 point

and whitney, ceo of bumble speaking about their partnership and fireside scheduled with citadel and pimco, up to the minute perspective on the market environment. of course, with the midterm elections actually six weeks away today, we'll get a sense of the political and regulatory landscape with deputy treasury secretary wally and virginia governor and former carlisle ceo. jon fortt closing out the day with a micro panel of rock creek and jillian salisbury runs goldman sachs asset management less than 24 hours away but i believe still tickets available if you'd like to attend or get more information about the event. please, visit the website or there should be a qr screen. all information you need send it back to you. >> i'm sure another chance to put the qr code up on the screen. >> love a good qr code. >> yes leslie picker. >>> still ahead, a check on chips and some warn nvidia is stuck in valley. domestic manufacturers ask, where are the workers? big show ahead "techcheck" is just getting started. another busy day? of course - you're a cio in 2022. but you're ready. because you've got

sitting down with pimco's dan iverson, that's my question him.agree with him now is the time to really be putting capital to work there? we're going to hear what's going on in the equity markets, energy short sellers. jim is going to be sitting down with carson block as well as the conversation on what it's like to be a short seller right now >> you work over those questions. i've got to work over mine for ken griffin and i'll see you there. >>> coming up energy is one of the worst sectors this move. stephanie link making a move as she said in that space >>> don't miss the premier of a brand new season of "american greed" tonight on cnbc at 10:00 p.m. eastern "halftime" is back after this. ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning ef

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. >> announcer: the bond report is brought to you by pimco. careful now. nice! you got it.hanks to voya, i'm confident about my future. oh dad, the twins are now... ...vegan. i know, i got 'em some of those plant burgers. nice! nice! yeah. voya provides guidance for the right investments and helps me be prepared for unexpected events. they make me feel like i've got it all under control. because i do. ok, that was awesome. voya. be confident to and through retirement. (vo) at viking, we are proud to have been named the world's number one for both rivers and oceans voya. by travel and leisure, as well as condé nast traveler. but it is now time for us to work even harder, searching for meaningful experiences and new adventures for you to embark upon. they say when you reach the top, there's only one way to go. we say, that way is onwards. viking. exploring the world in comfort. lily! welcome to our third bark-ery. oh, i can tell business is going through the “woof”. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll he

share powell embraced that forecast he called it likely and a plausible path in the words of former pimco economist paul mcculley, he said powell is now hugging the dots three months ago, powell advised investors to take those dots with a grain of salt one reason for the change might be, widespread among fed officials on the path. most you can see there, that cluster in 2023 and 2022, only down 50 basis points compare that to the next year. and that may be gives powell more confidence now to speak for the committee than he normally does but there could be more going on luke crandle tells me, it feels like it's gone from an exercise in unfiltered transparency, that is, they were randomly given in, to a more curative communications tool. whatever it is, it looks to be working. the peak funds rate now at 469 today, from may 2023 the two-year yield, also as you know, surging well above 420 it seems important now you've got to follow the dots. investors should also be aware that they can be wildly off. a year ago, the fed forecast the funds rate at 1.34%. we're likely to end the year north of

in the program drukenmiller said, quote, he'd be stunned if we didn't have a recession next year pimco'st think you're going to see continued economic momentum throughout year end, any type of material slowing will likely be a 2023 phenomenon, and the economy may, you know, surprise over our resiliency in this market it doesn't mean it's not going to weaken eventually, but you could end up seeing some stickiness that create, again, more volatility, more uncertainty. >> he said there's still a shot of a soft landing, but it's not the firm's base case scenario. carlyle's david rubenstein also believes some sort of slow down is around the bend, but it will be short-lived >> the united states is not in a recession, technically, but we're probably heading towards something that's going to be not that favorable, and no one wants to use that "r" word, but we're heading into something not so favorable. but two years from now we'll be back to something closer where we were about a year ago >> if he's right and there's a prospect for better days ahead, jp morgan asset and wealth management ceo urg

ahead of the fed's big decision this week the ten-year hitting its highest level since 2011 former pimco chief economist paul mcculley will be along to tell us why he thinks the market needs to brace for a nasty fed and more powell pain >>> plus, is the crypto winter about to get colder? bitcoin to a three-month lo and behold the bold car that bitcoin is far from bottoming >>> and later, ford warning on costs and inventories after the bell here. moderna's manic monday and a bullish call on a sector that has just been hammered this year i'm sarah eisen in for melissa lee. this is "fast money. with me tim seymour, karen finerman, steve grasso and brian kelly. maybe coming to grips that the fed is going to keep raising rates. stocks, after opening solidly in the red, finishing around session highs. it was a very strong final hour of trading the housing sector a snapshot of this delicate balancing act. rates keep rising, pushing mortgage rates to nearly 6.5%. but the home builders actually went higher today. key bank upgraded the sector, saying housing is due for a comeback after suffering m

i'll be sitting down with pimco's cio, dan iveson.ewing blackstone's jon gray i'll be moderating a panel on growth investing with bill ford of general atlantic. we'll have a panel focused on short selling as well with carson block and jim chanos and one-on-one with ken griffin. with the midterms just a few weeks away, we'll get a sense of the political climate with the deputy treasury secretary wally adeyemo and with virginia governor glenn youngkin. tickets are still available for purchase at deliveringalpha.com. that event taking place tomorrow morgan >> leslie picker, thank you. >>> as we head to break, check out bitcoin. higher by about 5% this morning. closing in on 10% gains for the week back above 20,000. >>> in other crypto news, ftx continuing its buying streak, winning an auction for bankrupt crypto broker voyager digital. other names like coinbase are moving higher as well. ♪ ♪ 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 t

joining us dan suze and pimco portfolio manager erin brown good morning to you both dan, i'll start withou given the moves and gyrations we've seen in the market in the recent days, the dow closing on friday to make a new 2022 low, the s&p and nasdaq flirting with those june levels as well before bouncing today, does the market have its arms around a tighter for longer fed >> yeah, it's a really good question, morgan first of all, it's great to see you again. great to have you back on the set. yeah, i think that part of the story, the market has largely gotten their head around i think the bigger concern for me going forward is that the part of the story that the market really has them wrap their head around is growth is probably going tocontinue to slow and probably going to disappoint relative to expectations the transition from the tightening fed story to the slowing growth story, i think that we're kind of in that transition right now that's where a lot of the second -- you know, the volatility from here, you know, could bubble up from >> erin, how do you see the market right now and

>> here's the problem, joe i jumped to one large conclusion, just like jerome schneider of pimco yesterdayuspect if you look at where most of the yield curve is now, it might be sufficient, but the real question we need to ask is are today's numbers going to satisfy the fed, and in my opinion the answer is no they're going to be looking at 6.2 higher than expected and not carrying a peak at 6.8 and i think the same could be true for the year over year core deflator so i think to answer your question no, the federal reserve wants to see much more of a cushion before they take their neck off the chopping board >> okay. >> rick santelli, thank you, sir. joining us now with more on the new inflation data and trying to wrap things up here and jeremy segal, professor of finance with the wharton school good morning to you, sir you said provocative things of where you think it's headed and we'll get to all of that in just a minute, but your reaction to these numbers. >> first of all, this is august numbers. you know, we're one day away from october. >> good point. >> i haven't looked into the deta