the s.e.c.'s agenda contains 55 proposals in various stages of the rulemaking process. the proposals address a wide range of issues and market participants. one pending proposal is described as being, quote, related to investment advisor conflicts in the use of predicktive analystics, artificial intelligence, machine learning and similar technologies in connection with certain investor interactions. we're about to hear more from chair gensler on the intersection of artificial intelligence and securities regulation. skeptics say chair gensler's agenda is overreaching, overlapping and too aggressive. his supporters say he's pursuing crucial reforms. chair gensler has said his goal was to improve the efficiency and transparency of financial markets and reduce costs for investors. the rise of cryptocurrency has been another challenge for chair gensler in recent weeks. the s.e.c.'s division of enforcement has taken several actions against crypto platforms that the s.e.c. claims are operating as securi

the s.e.c. time to properly study the impact of the no-action letter's expiration. widespread dissemination of research by u.s. broker-dealers to investment managers is critical to capital formation and to maintaining the competitiveness and efficiency of the u.s. capital markets. moreover, non-u.s. and global investment managers rely on the excellent research conducted and provided by u.s. broker-dealers to inform their decisions making and fulfill their fiduciary duties to u.s. investors. u.s., the mafid 2 currently thre threatens to require separate payments for research services and trade execution. this small change would capture u.s. broker-dealers receiving unbundled payments for research services and put them under the investment advisors act, subjecting them to an entirely new regulatory regime. the s.e.c. no-action letter, which h.r. 2622 extends, permits broker-dealers to accept separate cash payments from investors -- investment advisors without adding new burdensome regulatory requi

accused the s.e.c.f missing issues like celsius and ftx and taking a loss in the ripple case after the ruling, in your view, is the s.e.c. fit to regulate crypto >> i can't speak for others. coinbase's view is the disputes, the differences of legal opinion, are disputes grounded in good faith. many people at the s.e.c. have been operating on a good faith belief on the authority. they have been wrong that doesn't mean the institution has failed, but there has been a failure of leadership to follow reasonable engagement with the industry rather than resorting to court. >> you feel this is an ideological display? >> there is still time to fix that. >> in terms of the future of cryptocurrency regulation in the u.s., from your point of view, what is required is there a new framework required what does ideal regulations look like for syou? >> we feel rules will be important. legislation as well. the fact of the matter is we have an asset class that behaves differently. when the laws were written in the 1930s

the s.e.c. let's talk to the man himself. strong ipo in m&a markets. they have felt -- i'm going to break it down and show you that there is some real good news in th those sectors. and all your calls, rapid fire in tonight's issue of the lightning round, so stay with cramer 76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. >>> this weekend "the wall street journal" published an op-ed on crypto regulation. this is by jay clayton and former cfc chair tim masset, this is the second time they've teamed up to offer guidance. it's got me so worried they were reacting to the s.e.c.'s recent trcrackdown, on coinbase, publicly traded and they argue these isolated enforcement actions may not be enough we need a new regulatory framework to deal with digital assets let's go directly to the source, the former cftc chair who's n

the s.e.c.ou. maria: congrats. you're about to ring the opening bell. does this lead you to other opportunities within columbia putting your money to work? >> i thought this need todd be the first company i did it with. i had to take them public. they're foundational. any time you think there's a new economy there has to be an exchange where people find each other, buy and sell. public square is the foundation of what i call the eig economy. maria: eig is. >> entrepreneurship, innovation and grope. -- growth.i believe in that. i launched a fund that's going to invest privately in these companies of tomorrow. maria: that is fantastic. great news. one or two products that i can easily get right now on public square? >> recently i loved good ranchers, a meat subscription box, made in the united states, so you can ditch butcher box. another one is earthly wellness, a great household product everyone can use for daily toy items. maria: thank you so much. we'll be watching you ring the bell on wall st

the s.e.c. how this decision could ripple through the rest of the crypto landscape, when "fast money" returns. i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. [coughs] good to go. yeah, i think i'll get a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. no. i'm going to get a second opinion. with innovation refunds, there's no upfront cost to find out. so why not check like i did for my small business? take the first step to see if your small business qualifies for the erc. landscape, when "fas >>> welcome back to "fast money. pepsico out with reports before the bell today the beverage giant beating on the top and bottom lines, raising full-year earnings outlook by 20 cents a share. the company sees lower volumes as higher food and beverage costs curb demand. still the stock gaining more than 2% today. it was snacks. people love snack

and i have advocated that the s.e.c.hould get together and create some standards on these platforms, and congress should direct them to do that. >> okay, please, this is really important. >> yeah, so, as you said, stable coins are kind of a potential connector between the crypto world and the real world. now, a this is a crypto token that is supposed to be backed by real assets, and most of them that we talk about our backed by dollars . 01 token equals one dollar. they are only used for crypto trading today, they might have other applications, but they exist, and my concern is that we are not addressing the risk . i think our regulators often take the view that while it is better to try to keep them out of the regulatory perimeter, i don't think that really works. and, you know, i think the competition from stable coins could be useful. again, if we address the risks. they are significant . >> well, i have to tell you. i remember during the bad days of 2008 where people broke the block, without there were securities bac

the s.e.c.'s long established three part mission, protecting first she is, maintain fair markets, and facilitate capital formation. persistent inflation is eating away at the hard earned savings of retirees, and now some of the proposals by the s.e.c. will make it harder safe retirement. this is unacceptable. i echo representative horse field's comments about the hard close rule that would force investors to put in orders to purchase or redeem funds as early as 10 am eastern time, in order to get that today's price. as a member of congress who represents california, this is concerning because my constituents may have to place orders way before they are getting out of bed. so i just wanted to echo that comment and sure that. do you believe that creating second-class citizens of investors is fair for my constituents? or constituents, you know, who are asking for a little playing field? >> it is actually trying to help them out and level the playing failed to protect them because it is the biggest i

despite the stock's 122% rally this year, piper says last month's s.e.c.suit has prevented coinbase from benefits from the recent run on crypto. maybe it's because of the 122% run this year. where do you stand on this name? >> listen, it's hard for me to kind of get off the train here i can understand from a minimum trade, you want to take some profits, it's up 120%, but i'll say that people have been bearish on this name for quite some time, as evidenced by 22%, 24% short interest and the short interest change of 7% recently. so, it's people that are resetting shorts to me, that sets up for possibly another short squeeze. >> i think given what we just heard from the s.e.c. with not just coinbase or the whole industry, i think i wouldn't chase it here. and if i was playing would you rather -- >> again what is this >> i'd go toe a robin hood when you look at, you know -- they have two-thirds of the market cap in cash right now they're going to expect to be profitable next year, and you think about the revenues getting back to peak in that 2021 period, they

. >>> the s.e.c.nd managers and investors. leslie picker is here with more. >> reporter: good morning, joe s.e.c. is in the process of finalizing regulations for final funds. it is seeking a technical tweak, but lawyers say it could change business in the industry and how it is conducted. it includes lowering the bar for indemnific indemnification of negligence. it is allowing to sue for recklessness or obvious risk if that were changed to ordinary negligence, lps could be sued for simpler mistakes making it easier to bring claims against gps. that may steer to less lucrative bets says the chair of the regulatory practice, the law firm that counts a number of private funds as a number of clients. >> the ability with for fund managers to take risks and protected for the simple day-to-day conduct is fundamental to having an investment strategy with potentially higher rewards if you are going to have funds that offer potentially higher returns, there will be risks associated with that and investment mana

the s.e.c.gs are inadequate that's on crypto following on friday since bounce back sl slightly, we're above 30,000 we will talk crypto and the s.e.c. in just a bit listening more than talking, and a personalized plan ♪ to guide you through a changing world. ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ >>> after friday's announcements from several big banks on dividends stemming from the bank stress tests earlier in the week, what's next for the sector leslie picker also didn't think about taking monday off and getting a four-day weekend she joins us as well >> where else would i be, joe? >> thanks for being here >> you're very welcome the largest banks sharing plans to bump up their dividends, the flurry of headlines coming after the fed's stress tests green lit the minimal level of capital these firms needed to hold onto before returning more to shareholders the big

the s.e.c.'s recent proposals would make this worse by allowing more and more politically motivated shareholder proposals to be considered. this busy work provides no benefit to business. so why would we allow these already decided on political topics to plague our board rooms? it's simply not fair to companies, including the ones across my district to have to continuously invest resources in fighting or litigating activist proposals that clearly do not benefit the company or its shareholders. especially when similar proposals have already been rejected. the s.e.c. proposals defy logic and sound investment strategy. that's why last week i introduced the no expensive stifling gofrpans act -- governance act, or the no e.s.g. act. as the very first bill of its kind to be introduced in congress, the no e.s.g. act would stop this burdensome rule from being enacted and help put an end to onerous e.s.g. shareholder proposals. for companies listening back home, this would address the s.e.c.'s proposed am

. >> are you talking about the s.e.c., the fact that -- no disclosure rules, what the s.e.c. wants to do to have companies give detailed data on greenhouse gas emissions and that sort of thing >> well, here's what we know and we must understand some companies are legitimately asking, what's more important, environmental or corporate governance, et cetera. it's okay, they need some guidelines, and i think those are being worked out so all of that is important, to answer the questions of, you know, our corporations, about how, how much, et cetera, et cetera and we're developing all of that s.e.c. has a responsibility in all of this. >> the states do, too. and they've gotten involved, as well some of the states cutting off certain companies or making it illegal for them to ban fossil fuels, for instance. how do you work around that? >> well, one of the things we don't want, we don't want a race to the bottom. we don't want to ave, you know states with so many different ways by which they're doing the evaluation, the data col

what legs does the ftc have to stand on >> arabile, this is a surprise move from the s.e.c. they have not traditionally, once an injunction has been blocked, appealed it they feel strongly about this and where it is expected over the next couple days and what the ftc will argue the crux of the argument thus far has been about a couple of things they say this is likely to reduce competition in the gaming market in console and future which is cloud gaming. one issue they have is microsoft could take the games like "call of duty" and make them exclusive to the microsoft fplatform microsoft said they will not do that and signed a number of deals to bring that game and other games to the rival platforms to it allay the fears it is not known what the s.e.c. will do differently. they must feel they have strong enough evidence to say this is reducing competition this is not about the console market this is about the future the next five to ten years in cloud gaming netflix-style streaming for games and what happens there in terms of who becomes the dominant player. that is what is a

the s.e.c.it settled fraud charges with the company and ordering it to pay an $18 million fee in the event it executes a final merger to take trump media public if the merger is not completed by january 1st,2025, the s.e.c. will agree to forego the penalty. >> a lot of political developments in d.c. this is another development. silvana, thank you. >>> coming up here on "worldwide exchange," former morgan stanley asia chair stephen roach is here on if china is seeing a lost year in stocks. >>> we begin with walmart offering what it calls sensory friendly shopping hours. the company says most of the stores will dim lights and have static images every saturday between 8:00 a.m. and 10:00 a.m. to create a calmer store environment. >>> you might have a thing in common with former president obama with the taste in music. he is sharing the latest playlist for the summer. latest picks include snooze and "only have eyes for you" and tracks from bob dylan and aretha franklin >>> just in time for "barbihei

does not meet the definition of the security investors now pinning hopes the ruling will weaken the s.e.c. case against coinbase and allegations it bought and sold securities without proper regulatory diligence >>> reports this morning that facebook threads is seeing a massive engagement drop off since the launch users are spending 50% less time on the app than a week ago frank, it started with a bang, but it takes a while for these things to catch on >> did you join? >> i'm not >> pippa >> it tells you the number now i'm almost too embarrassed to join. i'm a late adopter >> join the movement >> i'll see you there. >> join the cool kids. >>> turning attention back to the markets. governor waller is not convinced by the inflation data. he is calling for two more writ hi -- more rate hikes this year. waller said there was a fall before shooting higher. >> pausing hikes now because are you waiting for lags to arrive may leave you standing on the platform waiting for a train that has left the station. >> traders priced in a 90% chance of rate hike when the fed meets in two weeks there is doub

my hands >> reporter: that's when she decided to confront good and get it on tape >> reporter: the s.e.communicating like that violates recordkeeping laws, a faith for fraud, and it's not the first time last year, morgan paid $125 million to the s.e.c. for off channel communications, and failure to reasonably supervise employees. in an industry crackdown that began in 2021. shawn good pled guilty to fraud and money laundering, and his sentenciing may, he said the guilt and remorse is overwhelming caitlin anders were there, so were other victims but no one from morgan stanley was there. >> it doesn't surprise me that a person would steal money, because there are bad people what surprised me is that a corporate entity as big as rich and powerful as morgan stanley couldn't do the right thing. >> reporter: after our story first appeared on cnbc.com this morning, morgan stanley responded with a statement, noting -- saying the firm is working with all qulinlts multiple victims say not only kid morgan resist paying them but the firm attempted to hold them to the loans that shawn good talked the

whether the s.e.c.ns as security and that is viewed as a net win for alt coin traders who feared an eminent crackdown as well as coinbase which faces its own legal battle with the s.e.c the top assets are up 48% this year compared to 17% for stocks and 9% for gold. meanwhile, bitcoin is outperforming the nasdaq 100 as are crypto peg stocks like coinbase, galaxy digital and micro strategy bitcoin can't seem to break out from the 30,000 price level. there's not much investor interest some support from institutions but no real catalyst to drive the price higher or lower. things that would normally affect bitcoin such as the fed raising rates are barely moving the needle what the market appears to need is a return of confidence from institutional investors that could potentially happen if an etf that directly spots its price is named some of the biggest names are racing to offer it including black rockies. if they get the green light they could spur a buying spree and meet reserve requirements and seeing mo

you have several applications for bitcoin etfs to list can you handicap the chances for us that the s.e.cpprove the applications this time a lot of people seem to think this sharing agreement you have with the exchanges is now going to make a difference can you handicap the chances the s.e.c. is going to approve this? >> difficult for us to handicap but we know the regulators are after customer protection, looking to reach in and surveil the underlying markets in this case agreements add to transparency that's what they set out to do when it was the first to apply for bitcoin etf so the more our regulators are looking for, the more we'll give them and the more transparency we'll bring to the marketplace. >> we'll have more on how zero day expirations options work at 1:00 p.m. eastern you'll learn how they work. we're joined by michael green. he's going to explain his concerns about the products and why the etf community is excited to get in on the action. etfedgecnbc.com. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund

. >>> a man hit and killed by s.e.c., he struck the man near camden avenue and highway 85 early this morning. they see the driver had the green light, and stayed there to cooperate with the police. >>> new video of the aftermath of a scooter caught on fire inside a san francisco apartment building. still smoking there, firefighters said it was attached to a charging cable. one purchase to a burden center. the other person said that they both , the injured person and the second person we are talking about had to jump out of a window when they saw the flames shooting out of the scooter just to get out. >>> i had, and interview you will only see on capex, you will see in the area shot on a freeway. you will see her story and says she has a feeling that she knows what prompted the gunfire. >>> it. >>> you will see the damage inside the car, it is likely expensive. let's take a look at it. >>> beautiful blue skies, high clouds floating through. >>> welcome back. a lot of you are aware of the problem on our freeways. it will generate leads to catch the government. the chp says there were 1

we got to start realizing that >> you think that the s.e.c.' in court isn >> yes, and i didn't want that to be because i felt the s.e.c. had a valid case, that these are securities but they're losing there they're coming out as currencies if they're currencies, you would still need some sort of s.e.c. ruling but we're clearly in disarray they're not in europe. they're going full bore when it comes to crypto. and i know that tim massad doesn't want us to lose any leadership, but in this, we already have >> got it. >> we want it to be done by the fed. but our fed has no inkplings to do it. i think other countries, if we were cnbc spain, we would be discussing the turn to the right. crypto >> yeah. >> we should be a little more cognizant that crypto swept the world and that we have been the one that is now lagging. >> all right let's get to some stocks this morning, jim i don't know, you know, specifically what -- i mean, i'm keeping an eye on amc shares, of course that judge saying that potential conversion of the apes to amc common, which was a

the s.e.c. is announcing a settlement of fraud charges against that entity. the entity digital world acquisition corporation. that was involved in a donald trump-linked transaction it was proposing to purchase an entity called trump media and technology group corp. which in turn owns donald trump's media organization truth social, his social media platform that he uses today now that the s.e.c. is saying that that entity digit tall world has grid to pay a potential 18 million penalty here for misrepresenting itself to investors they're saying that these charges are now settled, and that penalty will be paid in the event that that spac goes through with the transaction in the future >> got it. thank you so much, eamon javers from washington, d.c >>> is the pharma stock the right prescription for your portfolio? we'll debate it next >>> and tesla tanked nearly 10%, making it the biggest drag on the nasdaq 100 is the electric run finally copping to an end? more on the ev stock don't go anywhere. "fast money" is back in two. this is american infrastructure, a pri

you don't have to read the s.e.c.doesn't make any sense to me. it would make your own firm illegal. >> what do you think, hal? >> he keeps talking about freedom. that's what we're looking for, freedom. they want to mandate things. the left isn't happy with just, hey, if you want to report on your carbon emissions, go ahead and report on it i'm perfectly fine with that if a company wants to go through that process and do it, go wrrigh ahead. we're talking about mandates he's also talking about esg within the pension plan systems of the far left states, that's what they want to do, they want to mandate that people put money into these esg schemes i would, by the way, i would be perfectly fine with my etf not being allowed to be into a pension plan -- >> what kind of freedom is that? you would be perfectly happy with congress mandating your business out of existence? that's what we're talking about here >> all gary gensler wants is climate disclosure what maga republicans in congress and state legislators want to mandate

elizabeth warren urged the s.e.c. to act. the main issue, the purchase of twitter by owner elon musk. she writes or she wrote, his control of both companies might lead to conflicts of interest. senator warren was also concerned with how musk took over twitter. he reportedly brought workers from tesla to help him at twitter. she wrote that might be a violation of state or federal labor law. tesla did not respond to a request for comment. the strike that has consumed hollywood seems to be at a standstill. no more negotiations on the horizon. some actors joined writers on the picket line. after sag-aftra and hollywood producers could not reach a deal. they want more pay and protections against the studio, using their likeness with artificial intelligence technology. you might have to wait a little bit longer for a new season of your favorite show. the production of many shows and movies have been suspended while actors are on strike. >>> tonight, we respond to a woman in the south way who had about 100 bucks hinging on a cabinet

coinbase and binance is undercut the s.e.c. would be the regulator which would be seen as a good thing for the industry. >> a lot of the xrp ripple types have been waiting a while. theyvocal. okay we see you we see you >>> yesterday, the s&p and nasdaq closed at the highest level of the year as the focus is shifting from inflation to earnings we have aoifinn devitt with us >> good morning. >> the earnings season had real question marks around it >> we have seen already the earnings have always surprised on the upside so far this year i would say that same telegraphing is going into effect now and we telegraphed some of the bad news and cost cutting. we are looking at a positive scenario for earnings. this is the recession which barked, but hasn't bitten. we see the resilience of the market and economy of the consumer i would have a positive outlook for earnings fur furthermore, if you look at flows, we see reasonable return of equities and people holding out in money markets they may rue that day as a bit of fomo taking over an

for instance, the statuat authorizes the s.e.c. to issue mporarily cease and desist regulated parties conduct while the adjudicatio is ongoing. and the exchange act specifically provir district court review of those orders because they requi party to do more than participate proceedings themselves. they can strike the party's freedom of movemeside the proceedings. and those could be viewed as collateral because, even though they contingent upon dependency of in adjudication, they are still not part of th process by which the adjudication is resolved. they affect conduct o of the scope of the pings themselves. i will say one other thing about these courts collateral review doctrine, collateral both the agency, i'm sorry >> finish your thought. >> both the agency review ontext and the collateral order contextly the only excepti the court has recognized to the general principle that you cet out of it simply by invoking the burdens of the predings. the only exception to that principle's claims of immu so the court has had adverse rulin

pippa is back with those >> frank, it looks like video game makers are not the only thing on the s.e.cegulator is taking a closer look at the $43 billion takeover for seagen the two companies first announced the deal back in march as a way to boost pfizer's pipeline to boost cancer therapies. >>> an investigation is under way after a fire at the dow chemical facility south of baton rouge. dow is working with state agencies to respond to the incident and all personnel are safe dow says air monitoring has not detected hazardous materials. >>> the head of the teamsters union asked the white house not to intervene if u.p.s. workers end up on strike talks with the union are currently at a standstill with the july 31st deadline fast approaching. >> something to watch. the stock of u.p.s. and reporting on friday. a lot to watch >> certainly >> pippa, thank you. >>> coming up here on "worldwide exchange," the morning briefing and headlines dominating trading desks around the world and the turkey president dealing with the cost of viling crisis. we're back in just a moment. >>> welcome back to

this comes as coinbase, the largest crypto exchange, faces a lawsuit by the s.e.c. >>> and blackrocking saudi aramco ceo amin nasser to the board of directors it is part of the long-term strategy nasser has held the top position since 2015 >> silvana, thank you very much. >>> to our other top story this morning. investors bracing for another batch of bank earnings before the opening bell it includes bank of america, morgan stanley and charles schwab morgan is expected to get hit hard by the slow making in the deal and forecasting a slide in revenue. and on the flip side, bank of america profits are expected to rise 11% from a year ago with the particular attention to the bond portfolio with a $99 billion loss in the first quarter this year. joining me now is the directser of financial technology -- director of financial technology devin ryan >> good morning, frank >> let's look ahead to morgan stanley and bank of america. do the reports look to be as bad as people fear >> there have not been big surprises. net interest income stories is something we will see going forward. credit has

new details about the s.e.c. legal action against coinbase. armstrong telling the financial times that the agency asked the crypto platform to halt trading of all cryptos other than bitcoin prior to suing the exchange last month for failing to register as a broker the zs.e.c. said it did not mak formal requests to de-list crypto assets. >>> the government is searching for hidden chinese malware in defense systems that could impact military operations according to the new york sometimes which says government officials believe the computer code had been hidden in had networks controlling power grids and communication systems and water supplies >>> two former disney executives are returning to the company to work with ceo bob iger according to the reports, kevin mayer and tom staggs have been brought on to deal with the legacy television business including espn frank. >> bertha, thank you very much >>> turning attention back to the markets. gearing up this week with the focus on two tech titans apple and amazon reporting after the close on thursd

but the s.e.c. may approve the first bts. jack, good to see you again. >> thanks for having me.re you? >> bitcoin has surprised people with resilience. are you a fan of all of the etfs they are trying to launch? >> of course i am. uncle larry, pump my bags. in all seriousness, things like time, pressure medals, direcdi collectibles, are valuable because they are scarce. bitcoin is an asset that is in the class of things like gold. things like antique ark and things like time it's scarce. i think it will rally no matter what environment it's in because it's scarcer than all other assets on the planet it doesn't surprise me that someone wants to get involved. >> it hasn't rally in every environment, though. every year, every quarter, brings a different set of explanations for what causes bitcoin to move. is there any unified explanation? or is it like, you believe or you don't? >> bitcoin is about supply and demand i would say it has rallied every environment. it's the highest performing asset. if you take a step back and look at its performance, all it's done is go up to the righ

last few years to navigatele regulatory environment that said, we had a huge win last year where the s.e.ced nine of our blockchain-enabled funds so, you know, we're now in 21 states, money transfer licenses. it is happening. we would expect that wisdom tree prime to be national by the end of the year. so, we think this is -- these are very, very important milestones on this journey >> how is it different for the consumer, jonathan, than just buying a bitcoin etf which i know you're also filing for. >> it's a great question so, we in europe since 2019, we've had crypto etps. wisdom tree and blackrock and others we filed for spot bitcoin here in the u.s. it is, in my opinion, the future of crypto as an asset class in the united states really won't be driven by etps. i think it will be in the wallet so, in wisdom tree prime, right now in those 21 states, you can buy bitcoin and ethereum safe and convenience before the end of the year, we'll be adding additional functionality so that your bitcoin will be tied to the payment rails so you're going to have bitcoin with utility. bitcoin to buy yo

let's get eamon javers in here >> the ftc and the s.e.c. are drafting mergers to antitrust enforcement of consolidation the framework released this morning, the agencies will use 13 criteria to evaluate the horizontal mergers, where companies in the same industry are merging, and vertical mergers, where companies in the same supply chain are merging. assistant attorney general jonathan kantor explained the biden administration's approach on "squawk box" this morning >> antitrust gives opportunities for new firms, technologies, to flourish and thrive. what we want is we want competition. we want disruption we want innovators we want them doing it throughout the economy and throughout the country and throughout the world. and that's what we're trying to promote. we're not trying to pick winners and losers we want the marketplace to do that >> the new language updates in case of vertical merger. but the administration's approach to antitrust was blasted as harassment of big business, on capitol hill, just last week. the saying in washington, i

after we caught the reaction from the court saying s.e.c. is perhaps wrong when you are overseeing these assets. we deemed them not securities when sold. let's move on to have a look at what is going on. we are looking at the analyst list. a bit higher print 1.3%, stocks leading to that, and nvidia is at the truest, saying that you can raise the price target on this. they're going up to 500 $45 per share at the moment. still have 470, and at&t with the telecom giant falling to 29 years of low. we understand the concerns about cleanup costs regarding a leg reportedly used with potentially some of its she thing on eight legacy phone cable network. some concerns about liability. but meanwhile, let's turn to social media. this week's meta-competitor to twitter saw a hundred million users on the threat platform, but it is not here to stay. there was enthusiasm continuing. i am pleased welcome laura, a vice president of corporate development, and a content creator and the host of the creator upload podcasts, previously from a partnership with face

you have to look aside as s.e.c. of the peers and say are their peers at risk care?t t-mobile. everyone knows it. it rallies right back to resistance. it is in a downtrend. we've got to think about selling some of the peers, t mobile would be high on my list. >> the all-time high intimal is 152 or so. chris is definitely right. they are the leader in the space. there are also getting rewarded for in terms of valuation. at&t, i am wrong all the time. we have been right collectively on the stock. you have lost the dividend 30 times over. there is no compelling reason to own the stock. >> t-mobile was the disruptor in the space. they were credited with that in the stock price. they have continued to try to break ground on different things. t-mobile will not be the same risk that we are having with at&t and verizon some of the froth has got to be taken out of the balloon there. even though it has sold off recently and it is rallying back , would you rather -- i know -- i would rather be t-mobile versus the others. there are better places to put your money. >> i don't car

having me this is really serious senator warren sits on the most powerful committee that oversees the s.e.c. and you don't usually hear a senator calling out an individual company by name and seeking an investigation by a federal agency these are serious allegations and it's an unusual request. >> that said, would it be weird if i said if it's coming from -- does victim a sense of political or ideological battle to it that you think could help tesla or twitter defend or musk defend himself? >> it's funny, this isn't particularly striking me as political because it's wonky it's about the tesla board of directors and whether they've given shareholders all the information they need to understand how tesla lent employees to twitter, how that worked out, what kind of cost it may have, you know, incurred to tesla and so on and so forth it's -- i understand the point, but i don't know i don't know if this is just political. although they have taken jabs at each other through the years. >> laura, let me ask you what senator warren specifically alleges tesla or musk may have done that is injurious t

mark: a source told me the other day, october is the new april when it comes to the s.e.c. agenda.use so many rules that you planned to go final in april are now final in october. and perhaps that will in october and perhaps that will be extended again in the next regulatory agenda as we get closer to 2024 and at the 2024 election to what extent are you concerned with the rules could be overturned by congress the closer you get if republicans take control of the whole government? >> let me address two things. we, twice a year as all government agencies to do, put out the regulatory agenda and it's published by the office of management and budget, so we put some estimates animals to win whenthings will happen and we jt put it into buckets, april and october and you will see the next one that comes out will be october and april. sometimes things go a little faster and sometimes a little slower. to the other question we will only finalize something if we think it's right and ready, not with him on a to the clock but just to the law and the policy and economics. we finalized today 19 a

the s.e.c. has this inflation pace. would not hold my breath, but wait until you have more clarity. >> maikel franco very much for your insights today. michael landsberg. >>> tensions with china are nearing a peek. temperatures on earth, hitting a peak. researchers, trying to find when human beings hit our mental and physical peak.we will take a peek at the limit when we return. you see what i did there? >> i got it. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. what if buildings could tell you how they could be more efficient? i'm listening. well, with ibm, you can use s

more stories you need to know first, ripples xrp coin surging after getting a huge win against the s.e.cdge in the southern district of new york ruled that it is not necessarily a security on its face with many saying the outcome will no doubt have direct and indirect implications for crypto in the u.s. >> we have been watching this case for years to set a precedent. you're seeing all sorts of other tokens take off. a lot of confusion, excuse me, still about this ruling where they seem to put institutional investors in one class and retail in another. that said, look at bitcoin today, which is now up to 31,000, 3% rally look at solana, a curveball that will support the crypto industry for a little while longer it seems. meanwhile, the next week or so could be the most important period for the box office in its entire history it has been hard for the industry to regain its footing after covid. most big name movies are underperforming or not running away with sales. indiana jones, transformers, case in point. we have three huge names on deck now. mission impossible, oppenheimer and barbie,

else and honestly that's the approach kerry is taking with our banks, that's the approach that the s.e.cfor transitioning into natural gas or just -- or working with the energy companies to actually reduce emissions as opposed to thinking that we're going to go green and everything's going to be run on batteries and meanwhile you've got people like gavin newsom saying you've got to have electric cars but you can't charge them at night. that's how ridiculous this administration is. we have no plan. we have a vacuum of leadership. and we're literally bowing to the ccp, not dealing from a position of strength at all. they're looking out for their interests. we've got to be looking out for america's interests. cheryl: well, congressman, to be clear here, if you look at 2021, who was the biggest polluter in the world? it was china. but it was followed by the united states, india and then russia. but you bring up an interesting point about basically power supplies in this country. because now we're more dependent on the saudis and really the russians because that's an opec plus story when it c

but it was attached to an insider trading case where she lied to the s.e.c.made deals to pay. this fits under those as a lesser case with a less famous name. but a politically charged case which is why it is messy. >> and it's not the end of it. thanks for watching that and breaking it down for us. thanks. >> he is one of country music's biggest stars. his new song was topping the charts. jason's music video has been pulled from the country music channel. the controversy explained, ahead. but at the end of the day, you know youou have a team behid you that can help you. not having to worry about the future makes it possisible to make the present as best as it can be for everybody. [ applause ] >> the day you get your clearchoice dental implants makes every day a confident day... a never-hide-msmile day... a life-of-the-party day... a take-on-the-world day... a believe-inyself day... a flash-my-new-teeth day. because your clearchoice day is the day you get your confidence back for good. a clearchoice day changes every day. schedule a free consultation. so many

san francisco company called tempo is laying off half its staff according to papers filed with the s.e.c. it's trading at 32 cents. so low we had to go to the extra decimal place to find positive gains yesterday. >>> microsoft hit an all-time high as it announced a new subscription service for artificial intelligence. meta, which has been so focused on the metaverse it changed its name from facebook, is jumping on the ai bandwagon, offering its own artificial intelligence programming, open source, available to anyone. that means anyone can reprogram, readapt their ai to their own needs. now, the upside is we can see some really interesting new products. the downside, people worry it could be used by bad guys like spammers to flood your email, your text messages until the systems are useless. meta says its put guardrails in place. >>> there's a new bipartisan effort in the u.s. senate to bar some government workers, including members of congress, from buying stocks. they would be able to buy index funds and mutual funds. you have no control over those. a recent survey by the university of

the s.e.c.ite remarkable deal with the chinese about the listing of chinese companies, for example. so you know, it's really about whether you can actually focus on nitty-gritty, granular small steps to try and start on a bigger journey to improve the relationship or not. >> and of course so much else is happening in the world, their relationship with china, what's happened with putin. there's just, you know, this enormous, you know, layer and layer of issues, obviously taiwan, which is less a problem with yellen, although the chip and semiconductor business is critical and taiwan's leadership in the world on that. what about -- what about any future trip, the commerce secretary, gia gia raimondo was supposed to go as well. >> the big one whether biden will meet xi or not. whether you could see a replay of nixon moment. if gina raimondo goad, that will be significant, particularly controversial, but it's important that these trips with all their theater take place because, you know, without that

his girlfriend and the two pilots have been charged in a civil case by the s.e.c.to answer, the quote, ill conceived charges and will defend them vigorously in court. lewis is the founder of a group that invests in real estate resorts around the world, many in florida and the bahamas he owns the tottenham hot spurs soccer team in england and is one of the largest art collectors friends say he spends much of his time on his 320-foot yacht which has its own training floor and indoor tennis court. always surprising when someone with this level of wealth and success is accused of insider trading which, granted, made a lot of money but not relative to what he's worth. >> what do they have to prove, though he was the tipee and he was getting tipped and he was tipping others >> he was receiving information from these biotech companies he invested in mostly on clinical trials he would pass the information on to pilots, his girlfriend, other friends, in some cases lending them the money when the results were made public the stock would pop and then he would sell receiving m

public, but not institutional investors hence the partial win part of it but coinbase is fighting the s.e.cabout its unregistered token sales and this ruling could bode well for its own regulatory battles that's where the stock is up over 24% some bad news, some people might be having internet trouble viasas said an unexpected event could affect their satellites. no details on the actual issue, but they said they're working on it and that's why that stock is down almost 29% right now. scott? >> thank you kristina partsinevelos the results of our twitter question will stocks hit a new record high in 2023 the majority of you said yes, they will. near 65% wow. all right. >>> up next, alphabet's ai push. that stock is soaring in today's session. got the details behind the move and what it might mean for the other big tech players at al do that next thnd much more you know where we're taking you next, in the market zone td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you

there's expected to be more to come in that space, and the s.e.c.ort, what it did was underscore and confirm a lot of the concerns that donors had that people who wanted desantis to be an alternative have. when you talked to allies of the governor they will say one strategy is win iowa, put in the work, grind it out and the question is do they have the resources to go the distance like that, and right now what you're seeing is he has big donor support and president trump and how he executes this strategy -- he's got too many maxed-out donors already. he only got 14% of this all from small donors. there was a story about oh, yeah, they're trying to be more honest about the small donor fund-raising, and i think that's what you do when you want to explain away why you're doing this. there is also this one campaign where their eyes got bigger than their stomach. >> they were running the campaign of inevitability and it was them and trump and you see chris christie on the rise in new hampshire. you see tim scott becoming the darling of donors. they had t

already in 2023, but in the latest challenge for the company, senator elizabeth warren is asking the s.e.cto look into elon musk's potential conflicts of interest with tesla and twitter. joining us is "fast money" friend and long-time bull jean munson, gene, i have to warn you, you've got some bears specifically on tesla on this desk tonight so i hope you don't feel outnumbered by bringing you to the fold here. what are we expecting for quarter? and how is december la going to justify where it's at right now stock wise >> so there is the near term, which is tomorrow, and then there is the long-term as far as the near term, i don't know if the stock is going to be up or down after they report their earnings the key topic is going to be auto growth margins x credits. in the march quarter, the street is a looking for 20% they missed it they hit 19% the street is looking for 18 this quarter i suspect it's going to be light, somewhere between 17 and 18%. i don't think that's going to be an issue for the stock ultimately because i think the commentary from the cfo is going to be to expect improv

agreement, giving china and russia a pass, delaying drilling permit, and other more covert actions by this s.e.c. and e.s.g. that runs amuck throughout every appendage of this federal government because it's a whole of government assault on the oil and gas industry, our fossil fuels, and our energy producers who have blessed this great nation of ours. my god, i cannot believe that we're having this debate, mr. chairman. but i appeal to the common sense of my colleagues on both sides and to do what's best for our country. and not put the prairie chicken over the prairie people that bless this great land. with that, i yield back. mr. westerman: i thank the gentleman mr. arrington, for his remarks and i reserve. the speaker pro tempore: the gentleman reserves. the gentleman from arizona is recognized. mr. grijalva: with regards to rural america and the important role they play in this great nation of ours. i'm patiently waiting with, i hope, good expectations that if the agriculture appropriation bill ever gets done, that it will reflect that commitment to rural america. that electric co-ops will c