their macro prudential tools, prudential tools, situations where those asset price valuations may be looking stretched in combination with some other vulnerabilities. that's a good environment to think about turning on the countercyclical buffer which i tend to favor. but monetary policy really is not seen as an effective tool in that regard. that's why it's so important that we are really active in using our macro prudential and prudential tools. elaine: thank you. central bank digital currencies are a big topic. effectively developing theirs. the e.u. is formally ex-employing a digital euro. can you tell us where the federal reserve stands in terms of considering a digital u.s. dollar and what your thoughts are on a digital dollar? ms. brainard: so it's a really big topic. it's become much more kind of sail yant in recent -- salient in recent months because during the pandemic there was a continued acceleration of the move to contactless digital payment. so that becomes more and more the path of the future is fully digital payments. it's also the case that in the pandemic we saw ho

stephanie also recommended prudential as part of her picks.kind of -- you referenced u.s. bank corp., do you have a view on prudential new management, kind of a reset for the company. any view on pru? >> pru looks productive as i've looked at the charts, brian and i'll tell you again i like the financial sector to me it looks like we'll see rates work their way higher. our view is 150 to 171 by year end. i think you'll see the financial related companies continue to outperform and i think prudential is going to fit into that perfectly i like that stock and it's another one i think should be bought >> a lot of love none of this was planned i want our viewers to know that. we're just throwing you guys on the spot because we know you can handle it. that's why we love you thank you for being part of our "go big or go home" series this week guys. we'll let you get coffee or go back to bed, whatever you want thank you all very much. >> thank you. >> when i say go back to bed, i'm saying that for a friend our special series rolls on next week we're g

know what the rate is versus next year when the rates could be higher. >> danaher and booking and prudential we love fridays on "worldwide exchange." thank you for being on, jill have a great weekend. >> thank you >>> thank you all for being with us today and this week just a reminder, tomorrow is the 20th anniversary of the attacks of the world trade center, pentagon and united flight that laid to rest in pennsylvania nearly 3,000 people lost their lives. kids today that are alive that don't remember their mom or dad. give your family a big hug this weekend. they are going through so much god bless everybody. especially those that ran into the towers that day and some of whom were not able to run out. none of us who were there or here now will ever forget them or their bravery have a good weekend. the personal loan from sofi helped me consolidate my credit card debt into one simple monthly payment. debt free! thanks to sofi. ♪♪ hey look. we're twinsies. at cvs, flu shots can be free, safe, and quick. so the whole family can get them. now we're twinsies. get $5 dollars off $20 with each free

prudential plans to use proceeds to regain high coupon debt and contribute to investments in asia anda. rishaad: going to move to the youtube ceo. google still holds free speech as a core value, on the back of a decision to remove content from a russian opposition leader. alexander navalny has labeled u.s. tech -- the platform also has to serve audiences the best it can. >> one of the things that is important to us at youtube is the fact that we to enable so many voices and people -- that's a core value of ours. when we work with governments, there are many things we have to take into considerations whether local laws, what is happening on the ground. there are always multiple considerations we're going to have to take into consideration. >> navalny said youtube deleted one of his videos. with that at the request of the russian government? >> we certainly get requests from governments. we look and consider why are we getting the request, let's happening on the ground. in certain cases we will honor them. >> which google ever leave russia like it left china? >> want to make sure we are

we have banks under performing, also areprudential prudential ug too. look at france, down 2.4 percentage points, again a lot of cyclical names coming under pressure, luxury suffering this morning, quite a lot of losses as well as steel maker mattel all basic resources coming germany, down 2 percentage points, all eyes on the federal elections this sunday. spd squarely in the lead but still a lot of questions about the permutations of the next government we'll be talking about that in the coming days. as for sectors, every sector is trading in red z you can see i touched in cyclicals travel and leisure down 2.7 percentage points. banks down 3 percentage points and basic resources down 4 percentage points, heavy day of decline. health care and food and bev are the relative outperformers but still down .5 or 1 percentage points as well what does this mean for the recession? not well, the s&p is scheduled to open 50 points lower, dow about 400 points lower as well, a loss of about 1 percentage points so when were you looking at another day of losses for wa

prudential, pru, totally new management, trying to reinvent themselves why do you like the quiet giant a quiet giant you said it, new management, tl shrinking to grow the company. they're focused on emerging markets and assets last week they sold 17% of that you are variable annuity book, i think they'll use that to buy back stock and if you think rates are going higher, which i do ultimately, they will benefit. trades at 8 times earnings and you get a 4.5% dividend return while you wait. >> sysco, not the food services company you might use to buy food at the prudential company, but sysco, another name you may like see what i did >> i see what you did. you tied everything together. >> i linked it linked it. anyway -- >> oh my goodness. i need more caffeine yes. cisco is a great story enterprise spend, bookings up in the last quarter and a great solid analyst day. 2.6% dividend yield, trades at a 20% discount to the market >> you know what, we'll let you go get that coffee the dad jokes may be having a little bit of spark at 5:45 in the morning. we're hanging on by a thread stephanie l

the investment management business of prudential. ♪ ♪ >> welcome back. rahel solomon and here's the cnbc update at this hour line will up for gas again, although the situation is improving, a group representing filling stations says 27% of its members are out of gas the group also expects more stations to get fuel in the next 24 hours the nfl getting onboard with nfts the league has signed a deal to develop non-fungible tokens of game highlights. dapper has the deals with the nba and wnba macy's is trying to stop amazon from putting a billboard ad on top of its flagship store in new york city. macy's is suing its landlord to stop the move claiming that the ad for its online competitor would do immeasurable harm to macy's business. tonight on the news, when will britney spears finally be free a judge is expected to decide this afternoon when her father should remain her conservator or if anyone should have that role. full coverage at 7:00 eastern. >> rahel solomon, thank you very much energy, it's the best performing sector of the year has been red-hot la

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up with their 1990 jump on market debacle to happen, they have put the pressure on from a macro prudential standpoint on these companies to beat certain criteria in terms of capitalization, limiting their debt and so on. we had enron and worldcom and lehmans. they are trying to stitch in time saves nine philosophy. they are trying to get the growth better distributed over time, and will only do that is to control credit risk, and their credit market has been burgeoning with a very known credit spread. they are trying to introduce discipline where it is not naturally spiraling on its own. jonathan: i want to explore this issue with a little more detail. i was thinking about trades that might be vulnerable to a downshifting in china. then i saw your notes. you mentioned europe and you come at it from a very different angle. can you walk me through what you are concerned about in the credit market mark >> --? >> share. european companies are enjoying and -- a. of time where they are enjoying robust growth. it is the highest aggregate level in 15 years. it looks good, but underneath this model

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that's why over 5,500 companies rely on prudential's retirement and workplace benefits.> on "squawk box," a fourth-quarter preview, supply chain woes will companies feel the pinch? which sectors could have a rough go "squawk box" 6:00 a.m. eastern watch "squawk box" any time on demand >>> cnbc honors the hispanic community. >> latino entrepreneurs. >> the rich culture shaping our future >> and driving the growth of the u.s. economy >> cnbc every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30 per line per month when you get four lines or mix and match data options. available now for comcast business internet customers with no line-activation fees or term contract required. see if you can save by switching today. comcast business. powering possibilities. working at recology is more than a job for jesus. it's a family tradition. jesus took over his dad's roue

that's why over 5,500 companies rely on prudential's retirement and workplace benefits., and workplace benefits. a different kind of card that rewards rashida where her spending is trending. just ask overly confident diy rashida rashida: wait, was this the right wall? or last minute gift shopping rashida rashida: i'm putting a bow on it! wow. even sneaking away for a vacay rashida. rashida: shhh! i've earned this? from home improvement, drugstores, select travel and more earn 5% cash back that automatically adjusts to your top eligible spend category, up to $500 spent each billing cycle. [ suspenseful music plays ] lemonis: i want 30% of the business and i want all the employees to own 20% of the business. i want the staff to i feel comfortable to say, "this is a bad idea." and we're going to weigh out all the options and you may lose. because my vote and their vote is going to be stronger than your vote. chris: be equal. lemonis: it'll be equal on paper, but it won't be equal in reality because, if everybody, all these people chris: that's true. lemonis: ...are saying t

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when it comes to president biden's behavior on this, i mean, "a," there's the prudential question of -- biden's impeached. what next? you know, i think, again, we have an overarching crisis of competence within our government. i'm not sure that that would be solved -- that issue would be solved through impeachment right now. but i can tell you i will -- if articles are introduced, i will treat them the same way as i've treated prior articles so far in my long and tenured history, having been in congress for just over eight months. >> well, let me -- let me show you something. in 1979 in the original version of this program, "firing line," that was hosted by william f. buckley jr., buckley welcomed general william westmoreland to the program. he was, of course, the former commander of u.s. troops in vietnam. listen to how he reflected on vietnam. >> is there a sense in which you have let down the american people by any failure to dramatize the high risk of ignoring military advice? >> well, i think you're quite right. there are perceptions, as you have described them. the vietnam war

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like the millions of people who rely on prudential for financial planning and investing.ol district will now require every student age 12 and older to be vaccinated the los angeles board of education issued an order a short time ago all kids 12 and older must be vaccinated by january to be on school grounds. so far 1400 schools nationwide are closed because of covid. may not seem like a lot, but that number jumped by 140% over the last week. the average number of days closed, nearly 9 health officials say unvaccinated students, teachers and staff should be wearing masks. as dr. fauci explains, many schools have a mid-day hurdle. >> you have pretty good prevention programs at the time you're working in the class or working and you take your mask off at lunch break and you let your guard down. that's one of the problems. >> that is a problem, eating and masks. but schools in virginia may have a very simple solution in arlington, here's the situation. >> a lot of kids are getting covid. the most in this pandemic are aronne what are some simple ways that we can do to mitigate

the investment management business of prudential. in business, it's never just another day.e big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. >>> welcome back johnson & johnson revealing new data about the efficacy of the covid booster shot hi, meg. >> hey, wilf this is the only single shot vaccine out there. people were wondering what would happen if you give two shots j&j gave two doses eight weeks ago and protection in the u.s. up to 94%. globally 75% and might have been affected by variants in different countries. in terms of safety the general dose is generally well tolerated and looked at a booster dose at six months and might be more similar to what we start experiencing with doses here in the united states. they fou

the investment management business of prudential. we see smarter software delivering cleaner power.merson's breakthrough technology enables the power industry to integrate renewable energy sources to modernize and improve the electric grid. emerson. consider it solved. does your vitamin c last twenty-four hours? only nature's bounty does. immune twenty-four hour plus has longer lasting vitamin c. plus, herbal and other immune superstars. only from nature's bounty. >>> disney shares dropping today. le let's get to julia. >> the cco this afternoon said at the goldman sachs conference he said that while they are on track, that growth numbers will be choppy. he said paid subscriber numbers will grow by low single digit millions and also he talked about head winds of delta-driven delays >>> but he did highlight areas of strength including the theme park saying they like the recovery they are seeing and that bookings increased between the fiscal third and fourth quarter and said that crews ships bookings are higher in the second half of the year than the first half they also said they may

those in fidelity and prudential competed in our last rfp. and voia is the largest government provider and still is from a client standpoint. they have about 3,700 government clients, however, with empower's recent acquisition of prudential, their total government asset now bests voia and voia is about $150 billion and empowers is now at about $200 billion. and they manage acquisitions in the record keeping area and we'll report back as updates are made. with that, i'm open to any questions the board may have. >> vice-president casciato: any questions for diane from the board members? and my comment is that i'm glad that i tell everybody on those phone calls to deposit everything that you can. >> thanks for that. >> vice-president casciato: so i don't mind taking those calls and giving that advice. okay, public comment, please. >> clerk: thank you. a reminder to callers to press star, 3, to be added to the queue. moderator, are there any callers? >> madam secretary, there are no callers on the line. >> clerk: thank you. hearing no calls, publ

the investment management business of prudential.>> take a look at some early morning s&p premarket gainers. p perrigo will be one of the leaders, as it settle the tax dispute. we wilget l the opening bell in 6 1/2 minutes. don't go away. yeah, that's half the fun of a new house. seeing what people left behind in the attic. well, saving on homeowners insurance with geico's help was pretty fun too. ahhhh, it's a tiny dancer. they left a ton of stuff up here. welp, enjoy your house. nope. no thank you. geico could help you save on homeowners and renters insurance. >> announcer: the opening bell is brought to you by -- >>> bed bath will be your big mover of the morning shares are down double digits, at least premarket, on this pretty bad report and guide. they do cite slower traffic in the month of august, obviously higher freight costs for the fiscal q3. eps of flat line >> down 28%, a complete giveup trade. the stock had held up better than you might have expected if you look at the price-to-sales ratio, the valuation had gotten above

the investment management business of prudential. >>> a quick check of the markets.he nasdaq is also up 1% all three averages on pace for en vate ekthe week in what has be aolilwe stay with us >>> we're having a good morning. you mentioned this a couple moments ago. why not mention it again as you can see the s&p regaining all the lost ground earlier in the week a couple things we've been watching shares of dell alice meeting going on right now, it seemed to pick up as that went along and we were talking about significant plans for return to capital to that company. they're instituting a dividend, $5 billion buyback that caught some peoples enthusiasm in the last half hour or so. >> yeah. in addition to that, in terms of what's working in the market, outperforming is industrials, energy, materials. they are leading the way today that's going to do it for us on "squawk on the street. techcheck starts now ♪ >>> good thursday morning. welcome to techcheck today, tim cook hates leaked memos. and more on the long wait times we're seeing for the new iphone. later, facebook

tom: what are the prudential -- potential hurdles than? -- then?for him in the last week? maria: yes, and this is completely, to think olaf scholz is leading and the spd is running this election, when i got back to berlin at the start of august, people would have thought that's a joke. there's no way the spd can win the election. it doesn't show what a disaster this has been for the cdu, but it shows the different dynamics in the election. in terms of olaf scholz, it does seem like he's on autopilot to win the election. having said that, a lot of the german political commentators i speak with, they say that grilling on monday is probably not going to be very significant. this is incredibly complex. there is no evidence to suggest he personally got rich from this. and it also seems like the cdu move to make this -- make him look bad. the timing of this in a region the justice minister is a cdu member -- tom: may end up backfiring for them. maria, as always, great analysis. olaf scholz on autopilot for the moment, at least. maria is going to keep us

like the millions of people who rely on prudential for financial planning and investing.rgin galactic grounded the faa launching an investigation into the space flight last month. why? a deviation in the landing according to a faa spokesman, it did not follow the flight plan the agency barring brandon's space tourism company from flying the spaceshiptwo. it's slated for later this month, they could be delayed. >>> and the fed is taking action against stocker -- the federal trade commission banning spy phone, it's the first order of its kind from the ftc against a talker-ware app, it allows someone to monitor and -- it was marketed as a tool to month forthe activities of children and employees, but the foment tc said it -- >>> and walmart ramping up for the holiday season the company raising hourly wages for more than 565,000 employees, by at least a dollar the higher wages set to go into effect september 25th. >>> one of the most well-known light beer makers giving it a try. flavored vodka, three flavors -- lemonade, strawberry lemonade and black cherry lemonade. a full r

on a belt that would study the evolution of consumer finance and the viability of updating our prudential regulatory structure group consolidation of bank supervisors. through some level of supervision the fed does, could either of you give us their narrow -- a scenario where the united states consolidates bank supervision? chair powell: that is something we will have to look at. it tends to get looked at over intervals and it hasn't happened. each institution has a different role in our society. we have more regulators than other countries, but we seem to work well together. >> secretary yellen, there are a lot of provisions and a large void in the digital assets based. when your opinion, what is a digital as it for the purpose of tax reporting? sec. yellen: for the purpose of tax reporting, i believe the irs is issuing -- will issue detailed regulations that will answer that question. for the purposes of tax reporting. >> thank you. our law has not kept up with this and it has led to regulation by enforcement. with the sec, i appreciate when you were the chair of the fed come with the i

the investment management business of prudential. >>> welcome back to "fast money.jor energy stocks topping today eog, diamondback, devon as your favorite phi, what's your favorite? >> i think $27 price target. this to me was an interesting day for energy specific names jpmorgan actually downgraded chevron and took exxon off their focus list stocks did well. i've been wrong for a while but i think energy still has some legs in it i think it goes higher the place you want to be is service names. halliburton is best and brief. >> karen, your thoughts? >> to guy's point, the biggest exposure i have is the oih it was a pun i the higher oil goes, the better it is for servicing companies. oih. i bought it sort of around here, quickly went down to 170 i still think there's room remember, it was 244 maybe not that long ago so i still think there's room for the up side. >> a lot of things especially at the beginning of july, for instance, are a lot higher than they are right now after that brutal, brutal month we had. tim, how are you feeling about oil these days >> again, l

the investment management business of prudential. >>> missed a show?moving interviews call of the day. unusual activity and, of course, ask halftime look for us on apple podcasts or your favorite podcasting app follow the halftime podcast. >>> time for final trades. jon? >> all right frank, lvs i know i was saying i looks like i might have to dump it. they just jumped back in and bought a whole bunch of march 40 calls. love to see that i'm in this one. >> brenda? >> all the talk of cryptocurrency today i'm going with coinbase. one of our newer additions in our portfolio. it's really well positioned to benefit from continued adoption in trading in cryptocurrency >> josh you might have started a crypto theme >> yeah, and i'm going back to general motors i like the stock right here. >> jim, the final word on this one. >> i didn't see that coming from josh i thought i was going to be the one who goes against the grain but cleveland-cliffs who do you think is next cleveland-cliffs they'll delever their balance sheet and return a ton of capital to shareholde

but it's certainly not economic in its rationale it doesn't seem to be prudential financial regulationl and looked aimed at the rest of the party >> john hinted at what other areas could be at risk here. what would you say i know you've talked before sort of jokingly but not joking about the consumer goods makers who are making diapers and baby goods and house hold -- those would be maybe the safer areas here but what would you also say is probably likely at risk whether it's because of the crackdown on fellow communist party members or their style of living, what have you >> well, at the core of a lot of this is non-bank finance, meaning it could be state-owned finance but it's not through the state banks. it's other kinds of financial organizations. the chinese are not going to ramp up the state banking system maybe some people will get arrested but the state banking system is safe everyone else can be at risk so, if we find out, hey, you know, there's lite of money being sent over to macau so you can gamble and you're doing it through this trust, non-bank financial, or you're specul

that's why over 5,500 companies rely on prudential's retirement and workplace benefits.. ♪ ♪ ♪ ♪ ♪ ♪ kennedy: 311's from nebraska, and nebraska's message to the white house, get your with claus off my cash! and here's why. to help pay for president biden's $3.5 trillion spending jag that will hopefully fail, the white house wants to force banks to report every single transaction of $600 or more to the irs. you guy a couch? irs wants to know. pay for a swanky dinner? irs wants to know. my next guest is pushing back on the blatant invasion of privacy saying he's going to fight to protect nebraska cannes wallets. will other states follow suit? joining me to discuss, the nebraska state treasurer: well well -- can welcome tonight show. >> thanks for having me. kennedy: why is nebraska pushing back here? >> this is one of the most unprecedented examples of an invasion of privacy in the history of our country. honestly, three weeks ago i never would have thought i'd have to be fighting back against an idea as bad as this, but when we're talking about -- i was entrusted by the p

. >> there are many jurist differences and it isn't totally juris prudential but it isn't right to sayas been asked repe repeatedly. listen, the machinations that got these folks seats on the court highly political, typically in the last couple years. what distinction is he trying to make, political but not in the ordinary sense of politics? >> he's saying the supreme court justices aren't junior varsity politicians. they're judges who interpret the law. the best way to understand is look at roe v. wade, a conservative justice, clarence thomas, believes the constitution should be interpreted as it was written. he sees no right to an i abortion in the constitution and thinks roe was wrongly decided where is breyer thinks the constitution evolves so he thinks roe would be okay, thinks it's all about how a judge looks at the law. but here's where he gets into trouble. think about this texas abortion law. it went into effect, the majority allowed it to, and clearly on its face it looks unconstitutional, right? but the majority allowed it to go into effect because texas politicians wrote it

that's why over 5,500 companies rely on prudential's retirement and workplace benefits.rock? liz: breaking news a jury finding r &b singer r kelly guilty of racketeering in a sex trafficking case you're looking at brooklyn federal court right now, that is a live picture literally happening seconds ago. kelly has been on trial in new york for one count of racketeering with 14 underlying acts that included sexual exploitation of a child, kidnap ping, bribery, sex traffic king charges also charged with eight additional counts of violations of the man act that's a sex trafficking law, kelly, who once was a huge singer star could face decades in prison. anymore on that we'll get it to you. in the meantime, supposed to be the most wonderful time of the year, it's just around the corner major retailers are trying to get ahead of the seasonal rush by going on a hiring spree, but the latest vaccine mandate kind of a lump of coal in their holiday plans and some very big names in the space are now asking, to have this mandate delayed by 90 days to save the holiday season. let's go

the investment management business of prudential. [crowd cheering] how's sanchez looking?h your qb's increased spin rate, any pass with a launch angle of at least 43 degrees puts sanchez in the endzone. you a data analyst or something? an investor in invesco qqq. a fund that gives you access to nasdaq-100 innovations like ai statistical analysis software. how am i gonna do? become an agent of innovation with invesco qqq. ♪♪ you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >> welcome back to "fast money." energy making a lightning move let's drill down on the big move of the day with paul sankey who joins us on the "fast" line. great to have you with us. >> hello >> how sustainable is this move in your view >> well, the time of year is what makes it so difficult to judge that obviously, being in september with everyone worrying about upcoming winter, it will be a big question about over th

going on when we all saw what happened on september 1st in texas, it certainly feels like jewish prudentialbiden is right, the poll that came out last week showed the justices in the court with the lowest rating that has ever had since the poll started asking the public about his views of the court. that began in 2000. for this is the lowest ranking it has ever had at this point. it is not surprising, giving that showing that the justices are out on this goodwill tour. thiand a last-minute, here i wt to turn to texas, a federal judge denied a temporary restraining order on that abortion law, except, they are not saying that the abortions that are performed while the law is blocked -- they are not going to come back to the later. brian, is that alarming? is this decision by the court at all alarming, in addition to the supreme court decision which went right to the heart of the roe v. wade in the first place? >> melissa, you can probably speak to this better than. me my understanding is that some folks think that there is a strategy behind district court judge's ruling here. because to grant

like the millions of people who rely on prudential for financial planning and investing. it's the bottom of the hour. time for the top of the news calls for general mark milley to resign over claims he broke the chain of command tonight, milley responds and the president stands by him. >>> raging wildfires in the west now nearing sequoia national park, home to the world's largest trees. >>> and clear for takeoff -- spacex minutes away from making history. three seconds until the launch window opens in florida. the crew buckle in the, not an astronaut among them all four set to make history as the first all civilian kroo you to soar into space this historic mission dubbed inspiration four it's far more ambitious than the flights from jeff bezos and richard branson. they went to the edge of space for a mere minutes them spacex crew is set to spend three days in orbit if successful it will mark a new era for private space travel morgan with more from kennedy space center how's the weather holding up >> reporter: we are currently a go for launch. we thinker is 90% favorable a