>> david sachs is a very wealthy tech investor.the original members that launched paypal. he then went on to start other companies and is now involved in a company called glu. he owns properties in jackson square in san francisco, and so he has a lot of diverse financial interests and now one of them is funding trump's campaign for president. yeah. and he's been a fixture in silicon valley for a while now. >> how is sachs risen in the ranks to become one of the loudest trump supporters in all of silicon valley? >> well, one of the ways to be the loudest supporter of trump is to just keep talking all the time. and david sachs is pretty prolific on twitter, which was purchased by his friend elon musk, who also started up at paypal. he's also got a podcast. sachs does called the all in podcast, which he hosts with other people in tech, and he is consistently sounded off on a lot of different issues, not only in the business space, but also when it comes to foreign foreign affairs and national politics and he has supported many differe

so, jeffrey sachs was invited by persian morgan to the studio of the tolkv program.he first question is from seasoned propagandist morgan, what is called “vlob” about russia’s guilt in everything that is now happening in the world, europe. sachs responded that when the us proposed expanding nato to ukraine, the russians said no, it was said. back in 2008, but in washington they continued to expand, as a result, russia returned crimea for itself in order to save its black sea fleet base from natization, which looks natural and normal, while initially moscow even agreed only to lease, to lease until 42, after the united states began sending weapons to ukraine, putin. sachs remembered and suggested discussing this. the us replied, it's none of your business. moreover, sachs reminded morgan that when the swo began, ukraine said in march that it could be a neutral country. then the conflict could have stopped immediately, but the americans intervened again, the british again they said their hard thing, no. now the svo for russia, what is it about... putin said again the d

goldman sachs around record highs. in large kept up with the market. >> they have.t's harder. depending capital market sensitive or not, ultimately get more activity, more stands, more ipos? less broken iposs that they'll participate and maybe you'll have a tiny multiple on that. it's not like i hate banks. i just don't think they're going to keep up as much as, you know, the better above gdp growers. >> bring in cnbc contributors, joe, and good to have you both with us. brin, all right. what do you make what adam had to say? does your view largely match up with adam's? >> well, i think the narrative of you have to own things, i don't think adam said this. i think you said this and then y'all talked around it. you have to only own things around a.i. and productivity. i mean, we haven't seen that productivity. once again i'll bullish on palin to palantir and nvidia. product from i've aye a narrative. it's a let's hope this happens. everything's now son margins. apple's doing cool stuff with i phone gadgets, or you've got notetakers, but really, i don't think we will

you have to take david sachs with a grain of salt as you would any endorser of a political candidate. is not scheduled to go republican. it is important to note the swing states, you are at the margin of error. it is an incredibly close vote, election, right now, if you were to hold it. trump leads in several of these swing states, but by such a narrow margin that the margin of error encompasses it. it is unclear that he has a lead even though, it may be more microscopic than we think. therefore, really important to watch what happens with the independent undecided voters. they are going to carry this election. claudia: a new fox poll done in may in which candidate voters trust more gives trump a big lead 55% to 42%. how does he convince voters that he's the best man to combat inflation and interest rates when prices at the grocery store are still really high for so many americans? >> he has a big burden, no question about it. this inflation we have all experienced in the grocery store happened as a result of the pandemic. all the shortages, the factories that close down, lack of supp

and while we know right now is it's at the home of billionaire venture capitalist david sachs, who is obviously a staunch supporter of the former president, now it is creating a buzz because you have more of these tech leaders, publicly supporting mr. trump. but to get into that event, jessica, it'll cost you anywhere from 50,000 to $300,000. that's for that vip ticket. so, again, this could help the former president raise millions of dollars for his campaign. yeah, he's also mr. sachs, also one of the people participates in that all in podcast, so, yeah, the people that are there, you have both sides pro trump and against trump. yes we do again a large group here are, trump supporters. there are a lot of them were at that rally earlier. we do got some counter-protesters here. i talked to them not too long ago, here's what they had to say. san francisco and the bay area is a destination for fundraising. so, you know, biden was here at the next door house a while ago. so it's to be expected. do i appreciate it? no, it's not just san francisco. it's not just l.a, it's the state of calif

drawing from new york by a former advisor to a successive un secretary general. professor jeffrey sachs is director of the center for sustainable development at columbia university and president of the you and sustainable development solutions network. yes of is a special advisor. do you ins, x rays, general cooking on bunkie moon and antonio gutierrez, thank you so much for of as, as expo coming on. you've been pilots in your work trying to allow the weld the need for negotiations on ukraine and gaza. i suppose i have to ask you, given your former advisor to so many governments, why your not more on the circle, mainstream media, you want some kind of blacklist. you're not needed. your voice, these journalists think as well in the united states. so the word negotiation became a dirty word, so they don't want to hear much about this and they don't want to admit that it's the united states, a utter failure of diplomacy. that is the real story of the continuation of the crime war. so it's, it's a little bit hard to get through, and these are essentially a government mediated media in, in t

drawing from new york by a former advisor to a successive un secretary general. professor jeffrey sachs is director of the center for sustainable development at columbia university and president of the you and sustainable development solutions network. yes of there's a special advisor to you and sex res general cooking on ben p moon. and antonio gutierrez, thank you so much for visits expo. coming on you being tyler's in your work, trying to alert the weld for the need for negotiations on ukraine and gaza. i suppose i have to ask you to give them your former advisor to so many governments, why your not more on so called mainstream media. you want some kind of blacklist. you're not needed. your voice, these john listing, as well as in the united states. so the word negotiation became a dirty word, so they don't want to hear much about this and they don't want to admit that it's the united states, a utter failure of diplomacy. that is the real story of the continuation of the crime war. so it's, it's a little bit hard to get through a night. these are essentially a government mediated med

it was at goldman sachs, i understood how humbling it could be., when one of your cds went against you, you had to get on the horn and explain either why the person should buy more or why they should cut their losses. i also learned to let your gauge run while you cut those losses. i learned the hard way, many of my clients were perfect business people who didn't know that much about stocks. they just have been fabulous at running their own enterprises, a real cantankerous client, who i worked hard to get, trying to win them over for ages. i told them i'd be judicious, work hard and get it right for them. he didn't want trades, he wanted long-term investments, at the time, i happened to like the stock of kimberly clark. i told them this woman would be a terrific addition to this portfolio. i bought 1,000 shares. the stock went up 8 points, i had a winner. i called and said i want to sell the 1,000 shares to kimberly clark. i thought he would thank me. he was furious. he told me that i had said kimberly would be a good long-term position that it co

if you had a scenario of a hung parliament according to goldman sachs, this would go up to 116%.f you had the far right coming into power, this would come up 120%. what we expect is this continues and we should see the spread continue and the volatility in the stocks continue and we don't have a clear picture of what the election means in three weeks. >> charlotte, what an interesting picture you painted for us. thank you. let's unpack it more with ben who is the model of portfolio services at invesco. ben, you are not worried by that. you perhaps think it is a little oversold and there will be a recovery in the local stocks, so to speak. >> always a touch of anxiety of investment views. on balance, we have seen this movie before. markets do tend to overreact to political events. on balance, with some conviction, i think that's what's happened this time. markets are fretting and concerned about populous f fahrfar right majority low. on balance, it looks like a reasonable short-time possibility. >> you don't neces't know when will get done. let's call it extremist with the macron

to nothing but a show has. andre was saying that's how well renowned economics professor jeffrey sachs has described the ongoing conference in switzerland. he has the latest gas. i'm going on the ground and you can watch his pull into later this evening, right here with auntie. what is a taste of what's to come? this was conference was a shambolic to begin with and it's chip all it all the way through. it is meaningless. i. it was a show it sad age, sad to see switzerland be used this way. this article john list, some would say extend all griffith, repeating this word, unprovoked when it comes to russia. moving to save the questions in these, what do you do you just flinch every time you hear this phrase unprovoked, which is used by, i don't flinch. i, i last i and i guess i do crazy a little bit because 1st of all, this is a provoked war. second, the word unprovoked is proof out in the sense this is part of the talking points of all of these reporters. they wouldn't even come up with the same word, same exact word, repeated endlessly. we're not so following. so this is a war that had

in tucker carlson's recent interview with jeffrey sachs, sachs stated that all that. still belongs to international relations in the united states controlled by non-conservatives, that is , the same people who were in power under george w. bush, before him and after him, do you agree with this and don't you think that? the consequence of such a policy could be world war iii. 2 days before the conflict began in ukraine, we predicted the beginning of the third world war and said that we need peace. the third world war has already begun, to declare it officially, all it takes is some kind of attack under a false flag or something similar. the point here is not about neocons. there was such a man, general dwight esenhower, who later became president of the united states. during the second. demanded the overthrow of libyan president gaddafi, and then syrian president assad. and the war in yemen, antony blinken, who is now posing as secretary of state, was sent to saudi arabia when it was bombing the houthis in yemen to provide intelligence to the saudis and act as a strategic ally. in the

your trade here on goldman sachs, sir? >> we like goldman sachs. we've liked it for a long time.for decades. it's got tremendous cash flow. it's still cheap. and we think moving on from marcus is a bullish sign. look, they tried the retail product. it didn't work. goldman is -- it's a premiere brand. i don't think it was ever really a good fit for retail, so i think it's a positive that they've put that in the rearview mirror. and we think it will continue to make a lot of money, of all the wall street firms, if you asked me which one will be the last one standing, it's goldman sachs. generally, the investment banking business has been in a longer term decline but goldman is the best of breed, and the stock is still relatively cheap. >> that's a ringing endorsement. we'll move along to general motors. the board just approved a $6 billion buyback. the stock is rising to a 52-week high. you like it? >> i do. and you usually give me a hard time for being negative on stocks, but i'll give you two buys in a row. >> i'm surprised. >> general motors, has been one of our favorite stocks

investor and entrepreneur david sachs, thank you for coming on the show.a little fun but get your take, one of our digital stars, brooks sayingman interviewed donald trump ended read trump touts silicon valley support, says tech leaders can't relate to low iq biden. i have a high iq, period, end quote. what do you make of that? >> there's an old saying come many a true word said in jest, he says funny things but there's a serious point, no comparison between the cognitive abilities of these two men. what we saw last night, a fundraiser for donald trump, sharp, on the ball, stayed for four hours and talked to everybody, the whole crowd, everyone loved him and at the same time you saw biden at that d-day event and looks like you couldn't keep up with what he was doing. there is no question about which of these men is cognitively sort of more with it and intact. larry: he reportedly raised the $12 million, a nice piece of change, you can do three or four times as much in the next few months. how many people were at your event? >> 100 people. when we agreed to

out of the way so you can see the final preparations underway at this pacific heights home of david sachs, waiting for donors to arrive, as well as waiting for former president trump to arrive. you can see that white tent in front of the home. that is likely where former president trump will pull in as he gets ready to raise a lot of money tonight. this visit to san francisco, as you said, comes exactly one week since his criminal conviction in new york city on falsifying business records. the last time mr. trump attended a fundraiser in the bay area was in september of 2019, when he was president. tonight's event, hosted at the home of venture capitalist david sachs, and it is sold out tickets ranging from 50,000 a person to $500,000 a couple. tonight's event, expected to raise north of $12 million for the trump campaign. mr. sachs spoke about hosting this event on his all in podcast host. >> quite frankly, there's a lot of preference falsification going on in silicon valley. i know there's a lot of people in silicon valley who we know because we know who's coming. there's a lot of peopl

>> they are the goldman sachs, fidelity, vanguard, some of the biggest organizations that have donorlect money from donors with the goldman situation, it's goldman employees. and they have final say at goldman around where the money goes. so while goldman sachs is making these statements about diversity, taking out ads, making claims about their support for black americans, they're then going and giving money to the people that are trying to make those very donations illegal. it's the kind of ultimate trick bag. it's almost like they feel like they're forced into doing something good, forced into supporting diversity because they may not actually believe in it, and then with the other hand, they're giving money to these folks who want to make it illegal. so eventually when it's possibly illegal, they can say, well, we can't do it anymore. we can't give the money. and they can go back to having c-suites that are basically all white. they can go back to having corporate practices and structures that don't actually move resources to communities. and all of the sort of diversity was, you

ubs and goldman sachs bumped up their targets.li writes what he is calling the unloved market rally on cnbc pro. he looks at why so many investors find it hard to embrace the record run. we will talk more about that later on in this hour. >>> first, we keep a close eye on the treasuries and the yield. down 4% in the past few weeks with the spring housing market in full swing. despite being down 2% in the past month, the average rate for the 30-year fixed mortgage still stands at 7%. that is a set up for the busy week for the housing market and earnings report later in the week. including existing home sales. joining me on this is john lovello with ubs. also with me is bess freeman. john, i'll start with you since you're here in studio. >> sure. >> two big reports. one from kb home. ahead of the reports, you say it is a buying opportunity. wh why? >> we think so. first, thanks for having me. inventory has ticked up a bit. context is important here. 1.5 million single family homes in the market today. that is up 15% year over year.

global head of private equity at goldman sachs alternatives. back to you.ets today. kriti gupta on the ground in berlin with that exclusive interview from super return. we will head back to berlin where she will speak to the senior managing director at vista equity partners. a firm with $100 billion of assets under management. that exclusive interview is next. this is bloomberg. ♪ tom: it is the world's largest private equity event and it's in full swing. kriti group is on the ground for us at super return with another fantastic guest. kriti: one of the bait conversations in the market, you are no stranger to this, is what's going on in the big tech space. we talk about this all the time in the public markets, nvidia, salesforce. when the party keeps going, what makes a crack? they see the concerns in the public market, does it then dragged down the rest of the market. that's from the heavy hitters. it does have a translation into how investors around the world, even in the private markets are looking at that software enterprise story, looking at the ai sto

matt: what is your take on the goldman sachs call?he note on the labor market being at an inflection point. we saw nonfarm payrolls booming higher, 273,000 jobs added. the household survey showed we lost 400,000 jobs. ann: -- enda: a lot of different views on what the surveys mean and what they are telling us. a lot of confusion over the role of immigration in the economy. is it counted are not? the jobs market remains cooling around the margins. they make the point that is easier to maybe hold onto staff then find staff than it was last year. none of that means we are heading towards a hard landing. it does add to the economy slowing. the idea we are at the inflection point probably sounds quite fair. that's why i say about retail sales the data will be so important in terms of setting the tone for the economy and with that means for the all-important fed debate. it sounds about right. matt: thank you very much. enda curran talking about the retail sales data and the goldman sachs call. let's turn to the market reaction. joining us n

the event was held in san francisco's pacific heights at the home of venture capitalist david sachs. california republican national chairwoman harmeet dhillon posted these photos to x, saying they raised $12 million tonight. tickets to the fundraiser varied from $50,000 a person to hundreds of thousands of dollars a couple. mr. trump's visit comes one week after he was convicted of 34 felonies in a new york courtroom. in the 48 hours after the guilty verdict, the republican national committee said it raised $70 million, helping bring the total to $141 million for the trump campaign. just last month. ktvu zac sos tells us trump's supporters and protesters showed up in droves to the pacific heights neighborhood ahead of tonight's event. >> as the former president's motorcade rolled into san francisco's pacific heights neighborhood for a fundraiser. opposing sides lining the sidewalk. the vast majority made up of trump supporters. >> that's not acceptable. that's not free. >> i don't i don't agree with that. >> donald trump being hosted at the home of venture capitalist david sachs, arm

you mentioned david sachs, for example. okay, other people, you know, tesla, elon musk, sherm musk, you know, he's moving over to trump. so we're seeing the big guys, a number of them move over from the democrats or more independents to trump. we don't know how much of that sticks. we don't know how much of that falls to those below them. but it's something to watch. well, mr. trump, we'll be here thursday. is he is it still happening? he's getting a lot more money out raising a lot more money. since he was convicted last week of 34 felony counts, he raised more than $50 million just in the first 24 hours. it's unprecedented. and his campaign says that about 25% of those people were newbies. people who gave money for the first time. we don't know. you know, we'll we'll get the results from all that in july when the next this last quarter's reports are actually put into the federal election commission. but certainly for now, a politically and more so financially, the trump campaign has got a good jump. final question here. w

now the vice chairman at goldman sachs. look forward to that.et's show you the score card with 60 minutes to go in regulation in this first trading session of june, dow is off a low, still a weekday, was down more than 400. still down two thirds of 1%. the nasdaq trying to get something going as the last hour begins. got work to do as you see. weaker economic data today sending both stocks and yields lower. that's a big part of the story most sectors remaining in the red, that's trying to turn a little bit. i see three on my screen that are now green. we'll track it. financials, industrials, materials among the biggest losers today. so watch that as well. the outlier, what else, nvidia, it's higher again. and that's along with apple and meta, as you see. meta having a nice day, up to 2%. the road ahead for your money, stock start june with good amount of red on the board today. let's welcome in chief market strategist for jp morgan asset management and christina hooper, both you see here joining me at post nine. nice to see both of you. new mont

clients include goldman sachs, starbucks and general mills.michelle davis, senior correspondent at bloomberg deals. we are joined by both of you at a time when deals are finally coming back. before we get to the limitations because there are some, talk to us about what you are seeing in conversations with your clients. jim: mna, we think the stars are aligning for it to be a busy year the second half of the year and beyond. confidence is returning to boardrooms, to siu suites. -- to see suites. companies are willing to make bold bets on mna. the private agree market has not been as active but we feel that is going to be unlocked so we get greater certainty on interest rates and private equity holds additional levers to achieve exits. michelle: there is an election coming up this year as you may have heard and i know you are expecting a pickup in activity. i'm curious what your advice is to clients who are worried about their deal getting caught up in the rhetoric. is there advice around avoiding deals that might be too controversial or high-pr

i'm drawing from new york by a forward visor to successive un secretary general. professor jeffrey sachs is director of the center for sustainable development at columbia university and president of the you and sustainable development solutions network. yes uh does a special advisor do you and x rays, general cooking on mankey moon and antonio gutierrez, thank you so much for business expo. are coming on you being tireless in your work, trying to alert the weld over the need for negotiations on ukraine and gaza. i suppose i have to ask you to give them your former advisor to so many governments. why your not more on so called mainstream media, you want some kind of blacklist. you're not needed. your voice, these john list think as well as in the united states. so the word negotiation became a dirty word, so they don't want to hear much about this. and they don't want to admit that it's the united states, a utter failure of diplomacy. that is the real story of the continuation of the ukraine war. so it's a, it's a little bit hard to get to through. i know these are essentially a governmen

she earned a bachelor of science degree in applied mathematics and got a job at goldman sachs. she would go on and get a master's at stanford graduate school of business. in 2011, kujan's was born. ecuador has a beautiful heritage, which is the craft of making straw hats, of hand weaving. those straw hats with the heritage in mind, gajardo wanted the company's first product to be the straw hats. there was a problem. those hats were being sold in the us under the name of panama hat, and the most painful decision i had to make at the beginning of cuyana was to actually name those panama hats, not because i was in agreement with that name, but rather because i was starting an online business and people are searching for panama hats. the panama hat is actually made in ecuador. the official spanish name is. it's a long one. it's sombrero de paja tokija. cuyana is now on a mission to change that name to the ecuador hat, that are the ones to bring more education on to this complex craft from her home country. it starts with the raw material that only grows in very specific areas of so

tom: when it comes to the data question, it was interesting to hear from goldman sachs. in terms of the health of the consumer, we will get a gauge later today with retail sales coming through. what will you be passing when it comes to that data set? >> it is about the consumer. how the consumer is holding up. we are seeing cracks in the labor market. do they start resonating within the consumer? but if we see it is holding up relatively well. it will be hard for the fed to decide on moving away from a more hawkish bias. we will continue to have that data dependency. we saw coming into this year that inflation was on course and was softening. and we had a hiccup in q1. there is no chance of taking risk that they want to see that the recent data hasn't given them. same thing with retail sales and with the labor market data as well. tom: can we crystallize the trend? thank you very much. from the mliv team. and what to watch. more commentary from fed officials throughout this week. eu leaders have postponed a deal on how to divide the block stock jobs opening the door to f

sachs is perhaps the most famous economist in the modern world. uncompromising assessments. the darling of american television channels flew off american television forever 2 years ago, exactly 30 seconds after he announced that the nordic streams had been blown up. in principle, it all started very simply, precisely with the fact that the government of the united states, let's not call it the people of the united states, the people have nothing to do with this, but the government of the united states said that we are going to put ukraine on our side. and come over close to the ukrainian-russian border, 2100 km long. we will deploy our troops and nato troops there, possibly also missiles. whatever we want, because we are the only superpower in the world, and we do what we want. there is nothing new under the sun. the anglo-saxons dreamed of encircling and robbing russia for centuries. the only exceptions were moments when, for example, britain itself could disappear. it was lord palmerston's idea - the crimean war of 1853 and 1856. the british tau

sachs vocal criticism of biden and support for trump stands out in a famously liberal silicon valley.cribe them as liberal terrians. >> so what that means is that they're very liberal on most issues. things like immigration, abortion, even universal health care and increasing taxes on the rich. but they're actually look a lot like republicans when it comes to regulating the economy. >> stanford's neil malhotra helped survey the political leanings of silicon valley founders in 2017. he points out, venture capitalists are a different community. >> it tends to be that on platforms like x slash twitter, the very prominent voices tend to be in the venture capital community, tend to be from the right, sachs wrote on x last week. >> after biden's disastrous presidency. trump has a lot of supporters in silicon valley. many are just afraid to admit it. we reached out to him for comment but did not hear back. >> it is true that we paint the term silicon valley with a broad brush, even though it's composed of very diverse group of people politically. >> before the bay area, vp harris held events

we've seen goldman-sachs price action so far this year, up around 15%. it's pulled back in recent weeks, but i think there's opportunities there as we think about the capital markets and all the numbers that we've seen, and i think ib has bottomed absolutely, and i think we'll see a nice runway as we go to 2025. health care, typically in election years, doesn't return very well, but i look at med surge as an opportunity. there's been a lot of discussion on glp-1s and what's going on with eli lilly and novartis. i look at strike company, intuit surgical, i think there's opportunities for these names to continue strength and see earnings power head. those are a few of the opportunities that i see going forward. >> jordan, i wonder if there's one thing that stands out to you that's causing you any kind of nagging concern about the macrooutlook and whether, in fact, this sort of patient fed, keeping rates here fsor a full year, and you have a little bit of deceleration in parts of the economy that has investors' attention, whether any of that could break the

the event was hosted by tech billionaire david sachs and his wife, along with venture capitalist chamath palihapitiya. tickets were sold out, ranging from 50,000 to $500,000. the chair of the san francisco republican party believes support for trump is growing in the city. >> i think it's very jarring for the democrats. to see not just that the president has a sold out fundraiser in pacific heights, from tech folks largely counterprotesters say trump is not fit to be president, pointing to his recent criminal conviction in new york, david sachs posted a lengthy explanation on twitter as to why he is backing the former president. >> it was well over a thousand words. here's how he wrapped it up. quote the voters have experienced four years of president trump and four years of president biden. in tech, we call this an a b test with respect to economic policy, foreign policy, border policy and legal fairness, trump performed better. he is the president who deserves a second term. now we spoke with the senior politics reporter with our media partners at the san francisco standard to shed a b

sachs vocal criticism of biden and support for trump stands out in a famously liberal silicon valley. >> we described them as liberal terrians. so what that means is that they're very liberal on most issues. things like immigration, abortion, even universal health care and increasing taxes on the rich. but they're actually look a lot like republicans when it comes to regulating the economy. >> stanford's neil malhotra helped survey the political leanings of silicon valley founders in 2017. he points out, venture capitalists are a different community. >> it tends to be that on platforms like x slash twitter, the very prominent voices tend to be in the venture capital community, tend to be from the right, sachs wrote on x last week. >> after biden's disastrous presidency, trump has a lot of supporters in silicon valley. many are just afraid to admit it. we reached out to him for comment, but did not hear back. >> it is true that we paint the term silicon valley with a broad brush, even though it's composed of very diverse group of people politically. >> before the bay area vp harris hel

as for david sachs, he's a venture capitalist, a two time start up ceo, podcast host and former tech ceo. park heights resident domalewski plans on turning out with dozens of protesters to send a message. >> i'm happy to welcome him. we will give him a very big and excited welcoming tonight. 630 we're going to be protesting somebody bringing a giant chicken, like we're going to tell donald trump exactly what we think of him. all right. >> and this afternoon, a closer look at one of the demonstrators here. so much activity in this area, people directing traffic. a lot of vehicles coming and going. we can tell you that a person with the republican national committee believes that this particular fundraiser could raise as much as $10 million for former president trump. we're live in the park heights neighborhood of san francisco, suzanne phan. abc seven news. >> all right, suzanne, thank you for that. all right. >> abc seven news insider phil matier is with us now. phil he said he's raising money hand over fist. why come to california? he doesn't need the money. is he going to get much

sachs vocal criticism of biden and support for trump stands out in a famously liberal silicon valley.> we describe them as liberal, terrians. so what that means is that they're very liberal on most issues. things like immigration, abortion, even universal health care and increasing taxes on the rich. but they're actually look a lot like republicans when it comes to regulating the economy. >> stanford's neil malhotra helped survey the political leanings of silicon valley founders in 2017. he points out, venture capitalists are a different community. >> it tends to be that on platforms like x slash twitter, the very prominent voices tend to be in the venture capital community, tend to be from the right, sachs wrote on x last week. >> after biden's disastrous presidency. trump has a lot of supporters in silicon valley. many are just afraid to admit it. we reached out to him for comment, but did not hear back. >> it is true that we paint the term silicon valley with a broad brush, even though it's composed of very diverse group of people politically. >> before the bay area vp harris held

this follows a similar move by rival bank goldman sachs, and could see their bankers earning up to 10e salary. jp morgan defended the move saying in a statement that they have developed one of the most attractive and balanced pay structures in the industry. the uk government scrapped the cap on bankers�* bonuses in october last year. sticking with the uk. the latest inflation print for may saw prices falling to the bank of england's target rate of 2% for the first time in nearly three years. the economy and the cost of living have been one of the key issues in the run up to the uk election, to be held on ajuly. inflation in britain hit a peak of 11.1% in october 2022, its highest level in more than a0 years. despite that, the bank of england is due keep the cost of borrowing steady at 5.25% at thursday's policy meeting. turning to th us — american businesses and consumers started the year hoping the federal reserve would start cutting interest rates this summer. but last week's strong jobs report and still—high inflation means america's central bank is likely to leave rates unchanged,

sachs vocal criticism of biden and support for trump stands out in a famously liberal silicon valley.we describe them as liberal terrians. so what that means is that they're very liberal on most issues. things like immigration, abortion, even universal health care and increasing taxes on the rich. but they're actually look a lot like republicans when it comes to regulating the economy. >> stanford's neil malhotra helped survey the political leanings of silicon valley founders in 2017. he points out, venture capitalists are a different community. >> it tends to be that on platforms like x slash twitter, the very prominent voices tend to be in the venture capital community, tend to be from the right, sachs wrote on x last week. >> after biden's disastrous presidency. trump has a lot of supporters in silicon valley. many are just afraid to admit it. we reached out to him for comment, but did not hear back. >> it is true that we paint the term silicon valley with a broad brush, even though it's composed of very diverse group of people politically. >> before the bay area, vp harris held ev

today's event is hosted by venture capitalist david sachs and chamath palihapitiya. >> i've donated to bobby kennedy. i've donated to the democrats massively, and i'll donate to donald trump. and if there's an opportunity to talk to president biden and really understand where he's at, i donate to him as well. >> the two investors held similar fundraisers for other candidates before of all parties. together, they host a podcast called all in, which is posted on youtube. there they talk about trump's fundraiser, saying they've sent an invitation to host and fundraise for president biden, as well as david sachs says he thinks today's event will reveal just how much support trump has in the bay area. quite frankly, there's a lot of preference falsification going on in silicon valley. >> i know there's a lot of people in silicon valley who we know because we know who's coming. >> yeah, you have the list of people who don't. >> i mean, look, nobody is excited about biden, okay? nobody's excited about biden right now. so the only question is, do they hold their nose and vote for him? or do th

goldman sachs upgraded toll brothers to neutral.and outperformance in new home sales. next up, bank of america raising its price target for micron. the firm expecting the chipmaker to benefit from increased requirements to support artificial intelligence and personal computers and smartphones. best buy was upgraded with the new price target. analyst expecting electronics cycle help by innovations in ai. sam stovall is also looking closer at the tech trade saying this -- sam joins us now and i have to say, this is the quote of the morning to me given the fact that this is the ultimate existential question. is this u.s. stock market incredibly vulnerably because of the dominance of the big tech names or is it incredibly resilient because of them. what do you think? >> good morning, i think it is resilient however, i believe we are headed for a second decline it this year. based on my historical work, everyone of those top 15 first quarters ended up with a gain for the entire year even though many of them went through declines of 5% or

well, by the way, jeffrey sachs said today that, well, the americans. strive to ensure that ukraine remainsghanistan, but at least it should be. well , it’s already possible to record that the americans are carrying out the afghanization of ukraine, well, it’s interesting, elon musk, again today , he suddenly took it and paid attention to mere trifles, it turns out that interest payments in the month of may amounted to $103 billion, that is, this is for the year it turns out to be 200 billion . i sat down, well, i didn’t have time, simply because i think that barak barak noticed that the procedure had begun, that the procedure had begun, it must be interrupted, they are having a debate there on the twenty-seventh, whether they will take place or not , it is unknown, but if they take place, i think that at this congress in august a replacement will be made, this is my version, i would like it. from yard to yard, as you once said, i already have this, i’m already tired, no, you want to eat, but here he is, like that, well , they took him away like that, literally, yes, here’s old obama, looki

sachs is hosting the event at his home in pacific heights. has supported a wide range of presidential hopefuls over the years. bloomberg news reports. he donated $50,000 to the mitt romney campaign in 2012. 33,000 hillary clinton in 2016. most of his support has gone to republicans. he helped launch the ron desantis campaign announcement last year. he also co-hosted fundraisers for vivek ramaswamy and independent candidate robert f kennedy jr. meanwhile, former president trump is narrowing his list of potential running mates those on a reported short list include north dakota governor doug burgum and senators marco rubio, jd vance and tim scott. the trump campaign is reportedly requesting paperwork from contenders to begin a vetting process. so far, the candidates are keeping quiet about quiet about any possible role in the election. >> the only thing i'm talking to the president, president trump, about is how to make sure he gets four more years. >> i have not we've never discussed it. and but, you know, the donald trump's going to make a go

lack of trust in these same politicians, international economists, now the american dissident jeffrey sachsoke about the deep processes in nato and the role of ukraine chosen for this. the united states government has said that we are going to put ukraine on our side. and we will come close to the ukrainian-russian border, 200 km long. we will deploy our troops and nato troops there, perhaps also missiles. whatever we want, because we are the only superpower in the world, and we do what we want. in fact, it goes back a long way, starting 170 years ago. back. the british were the first to want to encircle russia, depriving it of its status as a great power in the black sea region. it was lord palmerston's idea - the crimean war. 1853 and 1856 . the british taught us that the russian empire needed a way out, an exit to the middle east through the mediterranean sea. and if you block the black sea for russia, then turn russia into a second or third level country. an american political scientist of polish origin, he is also called a key american political scientist. geostrategists, so back in 19

goldman sachs prime brokerage where they analyze data they're coming into the second quarter inserteding their exposure to these big technology stocks. they were looking at different types of ai plays like utilities so we've seen that particular group since mid april really take off and some of that people think of it as low volatility dividend tight paying stocks. this seems to be more of a peak in rates. but also a little bit of that ai play. if you're looking at nvidia coming into today it was only 5% away from trying to catch up to apples market cap there. apple is not too far away from 3 trillion again so if it crosses that for the first time since january. >> sticking on the apple theme there was reporting of other outlets such as the information talking about how maybe we could have seen a deal for offering apple tv+ to china of all places and just mentioning this perhaps the easing of tensions of people trying to understand how the china u.s. relationship impact apple. what are you expecting to hear in the future? >> as farce china is concerned, of the tv on the other things i

. >> people have to understand goldman sachs. let's bring that into play.e afraid to hold prices back because that might hold them down in a different department. from the old days. is it possible that if you don't rollback, you get left behind? >> yeah, absolutely. as you know, we have a partnership with goldman. they have been terrific about bringing that customer dimension into their leading research franchise and really leaning into that and we have a thesis, jim, which i know you support that the future of how companies are evaluated isn't going to just be about short- term earnings what are you winning with the customer and is it durable? >> yes. i will give you one last one. there is desperation going on today. there are people literally trying to catch a falling knife. to me, they are butcher blocks but maybe they're smarter than i am. nike. this is a brand -- let's forget the stock for a second. this is a pristine brand. we all know nike is the best but their stock is the worst. is there any hope for the stock of nike? >> we are not stock pickers.

goldman sachs and others are concerned if we saw barrels coming back and the market doesn't balance outthat means we could see downside pressure. opec is not concerned about this. it is sticking to what it knows best which is the management of the oil market and dismissing the bear ish comments. what is also interesting is the market reaction. crude is swinging off the back of the decision which would suggest the market is still trying to interpret what it means. in terms of the other big headlines, it was a big win for the uae which won a quarter increase. it will trointroduce more opec . it will meet once every six months instead of once every month. it should hopefully help to provide the market with more clarity on exactly what the output levels look like moving forward. the messaging from the group is they are not concerned with the bearish views off the back of the decision. >> dan, thank you so much for that and sharing the developments in the oil space. >>> coming up on the show, we will have election updates from around the world as results trickle in from india and south afric

i'm joined by mark, who runs asset and wealth management for goldman sachs.ou here at super return. we should kick off with private credit that's a focus of the for direct contact. -- why is this a marriage that makes sense? >> sure. thanks for having me. so private credit is one of our big asset classes in alternatives. we think we have a lot of expertise in the business we started the business back in '96, it was our first mezzanine fund. we're now on five. we launched our direct lending platform that's the platform we just raised $21 billion for. so we have a unique business. not only are we veterans in the business of having done this for so long but we also have a way of combining what we do on the investment banking side with leverage finance with our private capital business. so we tend to go to clients with both options and say here's what the market looks like, private credit looks like and shows people the pros and cons of the two and clients can differentiate what fits most so we can offer both solutions to clients. from an investing perspective we

stuart: quickly on goldman sachs, are they going to lend more money to the wealthy client. >> reutersand they will double their lending in the next five years to wealthy customers, those with assets of $10 million or more in people with luxury homes in sports teams and yachts, they are pivoting back completely to the rich, remember the consumer business they pulled out of that that did not work another going after the rich. stuart: that make sense the rich has the money. >> probably a lot of choice and lenders be back these are high-quality borrowers, clients of goldman sachs, of course recheck about 800 fico scores in the above, these are very good credits you want to loan money to people like that, i should probably look at goldman as a potential addition to the american ingenuity portfolio. stuart: the news is in. >> it is boring but good. check the big board we are five minutes into the session down 150 for the dow industrial, 38500, the dow winners headed by 3m, nike, apple is a winner at 214 this morning, that is coming in strong, home depot 345 j.p. morgan 192, s&p 500 winners,

goldman sachs analysts now expect the pboc to cut rates twice in the second half of the year sam vadasiled this report. >> reporter: it was a busy start to the trading week in china aside from panda diplomacy down under, they had numbers to digest the numbers were downbeat in the property stector with new home prices falling at the fastest pace in ten years. despite a wave of policy support. industrial output missed in may. fixed asset investment surprised to the downside as the property secreta sector continues to drag analysts say it may not be as good as it looks the data captures the may labor day holiday which may cause distortion in the headline we know spending per head is a worry. the pboc made no change to the rate this morning. the fixing is typically seen as a guide for the lpr fixing on thursday they don't always move in tandem economists are not ruling out a change or cut to the five-year which influences the price of mortgages. the rate decision came after credit data showed new bank lending in may, but respecting the slushish demand. in singapore, sam vadas, cnbc busines

let's get more on markets now with the apac equity strategist at goldman sachs. i want to start off with the mliv point -- mliv pulse survey. i'm wondering if you are among those who feel the fed is not quite as important and catalyst these days as it used to be. are you looking at markets and thinking more in terms of fundamentals, earnings, outlooks, dividends, the ai theme? >> the fundamentals obviously do matter. we do think the asian markets in general should be higher over the course of the year. we think valuations will appear, so we are more upside equities. having said that, i do think the fed is important. the fact that we got softer than expected cpi's and core month on month is encouraging. our view is that we will continue to receive better inflation is in the coming months, which still makes it reasonable for the fed to cut in september, so it still is keeping two rate cuts as a base case for us, but obviously, these cuts we think are still optional, but we think it will continue to trend down, so that could be important as well. paul: let me put a

goldman-sachs saying a.i.ontinues to fuel the boom. >>> and shares of autodesk rallying on news that activist fund starboard value has taken a $500 million stake in the company. we've got a lot of color on that one. >>> let's begin with the markets as we kick off this holiday-shortened week. of course, the news over the weekend, goldman, upping their year-end target and evercore isi at a time where we were getting a little antsy about narrowing breadth. >> i think we're still antsy about it, but what's interesting is the targets are all the market cap weighted s&p 500, and we were in a position which was somewhat interesting which is, even the most bullish street target was not particularly bullish in the grand scheme of things and in fact, going into the weekend, the average and median sell-side target for the s&p was below where the index itself was, so that creates this sort of catalyst for somebody on the sell-side to say, do i want to, you know, essentially capitulate a little bit or acknowledge the under