elizabeth and center street, charles schwab. i told you about the soccer team at bethany still being so important what charles schwab bethlehem steel field built in 1914 for his team. it the very first soccer stadium america with a grandstand with with seats so steelton and the bethany team face off in this do or die game for bethlehem and it goes into extra in the 10th inning and the top of the 10th hitting the tie is broken by a stilt in second base. then named joe mccarthy. so joe mccarthy became much better as the manager of the new york yankees during the famous gehrig. ruth missouri murderers row year. i think he won. they won like or nine championships in his 15 years. so joe mccarthy ended up in the hall of fame too there ended up for five hall of famers played the bethlehem steel league that gives you an idea of the motley crew but a lot of influential people so steelton won the championship on september 14th, 1918. they ended up where of getting a gold watch. is that eugene grace, the president and shortstop gave them

schwab acts like a bank.losing depositors to pull out into higher yielding money market funds. that's one reason it's been under pressure so long and looking for head count reductions. the banks keep dropping. the real banks keep dropping. co-m comerica got a downgrade. look, we went from 45 to 55 and back to 45 on comerica. that's what a head and shoulder top looks like. all the regional banks are looking like that. it is remarkable to see the weakness in the retailers on some of the disappointing reports from dick's. macy's down very big. what's amazing is how little these companies really matter. this is a $3 billion market capitalization. almost irrelevant. you see here that stock's been down rather noticeably. that's a two-year low for macy's at $13. what's not irrelevant in retail is nike. n nike is not just a dow component but $160 billion market cap. this is the lowest since december. kohl's has been sinking, even nordstrom on the retail. it's been a rough day overall for the retailers. carl, back to

later charles schwab stock is struggling as it tries to control stock.d the troubles and what you can do. we begin as always with three things investors ought to be thinking about right now. out enough to sustain a rally. is it a warning to the market? an impact to the business. there may be opportunities for investors. finally, retail earnings are taking a hit in the rise in shoplifting has something to do with it. what it says about the industry and the health of the consumer. my colleagues ben, andrew and al . it seemed like the s&p 500 was able to have a good week. >> it does look like a good week what worries me is that they had these great earnings on wednesday night. the market went out and rallied early on thursday. it went right down. ended up down 8% on the day. that is not the kind of trading you want to see. >> we were talking about video. we do have another potential play looking to go public. what does the performance mean for them? >> it should be a little worrisome. if the ai trade is running out of steam, it may have a tough time doing t

what is going on with charles schwab? the cost-cutting moves we are seeing on wall street beats. this is bloomberg. ♪ my cpa told me i wouldn't qualify for the erc tax refund, so i called innovation refunds. their team of independent tax attorneys will work with your cpa to determine if your company is eligible. [whip sound] take the first step to see if your small business qualifies. alix: it is time for wall street beat where we look at what is buzzing on wall street and the world the banking and finance. we are talking about the major cost cutting at charles schwab. sonali basak joins us. haven't we been waiting for this to happen since we had rates move higher? what is happening? sonali: another aspect is they are integrating td ameritrade. of course there are synergies that are put in between. we saw schwab go through a series of pain in the regional banking crisis, and in the most recent quarter they eased a lot of that pain and they beat expectations in key elements, including deposits. wall street was getting exci

again a group broker like schwab in with those banks, but traders keep doing it. then yesterday the stocks tumbled nearly 5% and schwab said they'd be closing some offices and laying off some people in order to save at least $500 million a year at the same time they announce a multibillion dollar bond offering i think that's nuts. schwab is still in the process of integrating td ameritrade which it acquired three years ago. as for the bond offering i don't mind one bit they're raising capital, as long as they're not selling common stock, which they aren't every time schwab has been beaten down by regional bank warriors, it's been a good buy next up there's a stock that's dogged me and my personal trust, the charitable trust it's just my personal stock picking has been called into question on this one i don't like it. it's ge health care. medical equipment like mri and ultrasound machines which was spun out of ge earlier this year initially this stock valued like crazy. i didn't buy into that it's pulled back it's down now nearly 12% since the beginning of august,

shares of schwab down 11 days in a row. the last time i saw that type of action, the show "friends" was still on tv. we were watching it, it's still on tv. come on, guys. not the reruns, however. we're talking about the real show, the live one. it wasn't live, either. we'll lay out why the stock market has -- why that stock until schwab has hat nnot been friendly. that's when "fast money" returns. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. i remember being on aau trips, high school games. my mom would always say, "you need to fuel the body and you need salt." i would always be the kid not cramping, ready to go. fast forward 20 years and i go from eating salt out of my palm to drink

the statement from the spokesperson at schwab saying schwab is taken a series of actions aimed at removingts and complexity from the firm and that it will result in some eliminations. we are talking about a brokerage that has 36,000 people employed, but is also integrating te deum air to. -- te deum air to. -- td ameritrade. paul: to what degree are these aftershocks affect the make? >> we saw schwab was very badly heads during the turmoil in the spring. it was one of the banks that lost deposits. in the last quarter management said the worst is over. by the end of the gear we will be seeing growth once more and net interest margins will be improving. it got over the hump. it issued $2.5 billion worth of bonds. it took advantage of programs which it is now paying back to get itself over the hump. this has to be another way of appeasing investors. he says it is planning annual savings of about $500 million. we do not know the extent of these job cuts. the filing did not say. in left it very open, but it is reducing its real estate footprint and that makes sense, taken advantage of the envir

schwab, if these reports are true and they are raising cash through a bond issuance are shoring is up their cash positions, as well. you couple that with the shrinking real estate footprint and job cuts that were not detailed, by the way. they just said they'll target the $400 to $500 million in an uhl nah cost savings. >> pretty hefty. >> it's being conservative. many of these banks, maybe learned a little bit of a lesson earlier this spring and then all of a sudden now with the market behaving the way that it is are feeling like this is a good time to batten down the hatches just a little bit more. so with schwab, this is also a scenario where this is a bank that was caught up in the maelstrom that was the regional bank crisis and it escaped relatively unscathed in that. there are still wounds that they're licking and this is perhaps just a bit of a lesson on how they'll make sure this doesn't happen again. >> there are people going through balance sheets when some of the high-cost debt people have been relying on to get through this crisis is coming due and they'll face rollover is

here you can see charles schwab getting a jolt, up 2%.opic of conversation in this world. this is essential clients pulling their money out of noninterest-bearing accounts, finding yield elsewhere, which for a charles schwab or bank of america or regional bank means nor expensive payouts to depositors, which could squeeze margins. and the overall debt issuance we're seeing with schwab as well as some of the other large banks largely has to do with preparation for additional capital rules and the fdic now is coming out next tuesday with some new rules regarding long-term debt ownership, as an additional buffer for banks in the event of a failure, so that they can kind of toss out that long-term debt before seeking out wiping out depositors. >> we're in a period where the market is obviously sensitive to headlines about issuance, and that's what we saw when that release went out on the flip side, you have the job cut. the key line in deutsche's report, no significant changes to client cash withdrawal behavior the earnings profile, or the li

schwab saved you. how much with schwab order execution advantage, you get price improvement on 96% of orders and commission free online trades. i'll take care of this. are you getting complete price transparency? expect more from your firm. schwab the better place for traders. mana has hundreds of thousands of five star reviews and counting. this was our second purchase through carvana. it was really fast this time. we traded in a car and next thing i know our new car was here. our trade in was gone. ta da! buy your car with carvana today. fabulous surroundings, but everyone's looking at their phones for financial insights from merrill. is he hailing a ride to the concert hall? no, he's making sure his portfolio and retirement plans work in harmony. they want to adopt a child and build a new home. so they're talking numbers with their merrill advisor. she's not researching her next role. she's learning how to handle market ups and downs without the drama personalized advice. so impressive your money ne

schwab, and by the rosalyn p. walter foundation, and damon button. - richard dreyfus. - hi. - welcome to firing line. [dreyfuss laughing] - it's been years. i've wanted this for so long. [dreyfuss and hoover laughing] - you have portrayed notable american figures from vice president dick cheney to secretary of state alexander haig to ponzi scheme scam artist bernie madoff. and you have often said that you would like to play ulysses s. grant. as a student o american history, are there other uncommon americans you would like to portray? - aaron burr. - why? - because i don't think he ever did anything wrong. and i think he's- - go on. - no, he was a very remarkable man. and he said things that were adorable. like he once said to a bunch of lawyers, "never write anything down because someday someone may read it." and i think that's great. - but at the time that aaron burr shot alexander hamilton, he was widely reviled. - no. - do you feel drawn towards characters in history who are misunderstood or who deserve a more

charles: i'm feeling that old schwab bucks kelling danielle shay come back. i love it. we'll talk to you soon. >> thank you very much. charles: coming up mullen is suing several brokerage firms in this company allegedly manipulating its stock. we have the ceo of that company right after this. of ♪ 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? ♪ ♪ ♪ i have type 2 diabetes, but i manage it well. ♪ ♪ jardiance ♪ ♪ it's a little pill with a big story to tell. ♪ ♪ i take once-daily jardiance, ♪ ♪ at each day's staaart. ♪ ♪ as time went on it was easy to seee. ♪ ♪ i'm lowering my a1c. ♪ jardiance works 24/7 in your body to flush out some sugar! and for adults with type 2 diabetes and known heart disease, jardiance can lower the risk of cardiovascular death, too. jardiance may cause serious side effects including ketoacidosis that may be fatal, dehydration, that can lead to sudden worsening of kidney function, and genital yeast or urinary tract infections. a

charles schwab told 2.3 billion dollars of unsecured notes.comes the same week and announced job cuts and office closures. financials around the globe have sold $2 trillion worth of bones in record times. sales are up more than 50% from last year making up the largest share globally. we will get back to jay powell be good mohamed el-erian weighed in on the fed president. >> if the right inflation target is 2% and they want to get there in a credible period of time, then we are not sufficiently restrictive. if the right inflation target is about 2% given the structural changes in the way we will get there is not by announcing the new target but by following a shadow target and once we see it stable, that is the most likely outcome, then we are sufficiently restrictive. sonali: brian smedley joins us now. if you take a look at what has been said today by fed chair powell, was there anything surprising? he left the door open for future interest rate hikes and you still have a market expecting cuts into next year. >> i don't think chair powell bro

schwab we're allowed to say without schwa schwab schwab we're allowed to say without schwaschwab digitalhout schwaschwab digital currency) klaus schwab digital currency cash great. cash is great. >> yeah. cash. yeah. let's make cash. again. >> yeah. cash. yeah. let's make cas try again. >> yeah. cash. yeah. let's make cas try to again. >> yeah. cash. yeah. let's make cas try to getjain. >> yeah. cash. yeah. let's make cas try to get rid. >> yeah. cash. yeah. let's make cas try to get rid of it. natwest >> try to get rid of it. natwest and now limiting what you can withdraw and put all that withdraw and put in and all that sort so there is war sort of stuff. so there is a war on is part of the on cash. this is part of the sinister on frances sinister war on cash. frances that's destroy our society. >> do you know do you know what i actually believe? i never thought these words, thought i'd say these words, nicholas. right. nicholas. but you are right. i think actually think there is actually a genuine on i think genuine war on cash. i think there's a lot of corporate actions are trying to

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schwab we're allowed to say without schwa schwab schwab we're allowed to say without schwaschwab digitaly without schwaschwab digital currency) klaus schwab digital currency cash great. cash is great. >> yeah. cash. yeah. let's make cash. again. >> yeah. cash. yeah. let's make cas try again. >> yeah. cash. yeah. let's make cas try to again. >> yeah. cash. yeah. let's make cas try to getjain. >> yeah. cash. yeah. let's make cas try to get rid. >> yeah. cash. yeah. let's make cas try to get rid of it. natwest >> try to get rid of it. natwest and now limiting what you can withdraw and put all that withdraw and put in and all that sort so there is war sort of stuff. so there is a war on is part of the on cash. this is part of the sinister on frances sinister war on cash. frances that's destroy our society. >> do you know do you know what i actually believe? i never thought these words, thought i'd say these words, nicholas. right. nicholas. but you are right. i think actually think there is actually a genuine on i think genuine war on cash. i think there's a lot of corporate actions are tryi

shery: bloomberg's vonnie quinn with the latest on charles schwab.tories we are following -- gaining after it announced an all stock deal to buy earthstone energy for $2 billion. earth stone stock will rally on the deal. the 2 -- the shale older -- the shale drilling rigs -- permian says it will keep them running for now talking an industry trend to cut rigs after buying rivals. hedge fund sculptor capital says it has received multiple takeover bids higher than it excepted from rhythm capital. some of the offers valued sculptor at more than $700 million. it is said that they offer the company $12 a share topping rhythms 12 -- $11.15. more capital reportedly required to purchase subway. the sale could be finalized as soon as this week. subway is one of the world's largest restaurant chains with around 37,000 stores in over 100 countries. we have more to come on "daybreak: asia." this is asia -- this is bloomberg. ♪ now hejust a future st ate. health happens now. ate. start your dna-powered health journey today with personalized insights from 23andme.

schwab, and by the rosalind p. walter foundation, and damon button. - will hurd. welcome back to firing line. - it's always a pleasure to be on with you. thank you for having me. - why do you want to be the next president of the united states? - look, it's a great question. we have a number of what i consider to be generational defining challenges that we're not addressing. one of them is the new cold war that we're in with the chinese government. the chinese government is trying to surpass the united states of america as a global superpower. that's not my opinion. that is what the chinese government has said about themselves in english. and every american should care about that because it's gonna impact how far our dollar goes. it's gonna impact our retirement accounts. it's gonna impact our kids and grandkids ability to get good paying jobs. we also are having to deal with a complicated economy, persistent inflation. this century, for the last 23 years, the cost of goods and services have increased three times the average salary for an american at a

jpmorgan, morgan stanley, sw schwab, all will do well because you get more additional capital flow. >> diversification is what you want you want capital markets and deposits to some degree, but you also want other things wealth management. that's why i like morgan stanley so much because they have expanded beyond just trading and capital markets, but if you think capital markets are in the process of bottoming, i do, sarat does as well, you want to own these now because they're trading at such attractive levels you can get bank of america for under one time book value and that is rare and this company has done a great job of cutting costs while having pressures in some of the capital markets businesses, but they have a wealth management business too the ones that i own are kind of like a special situation story in a way because they are diversified and you can win from a couple places. >> the thing that really helps the operating leverage and wealth management when capital markets open up is huge. >> great point. >> because the money flows into wealth management without any extra capi

schwab, and by the rosalind p. walter foundation and damon button. - vivek ramaswamy, welcome to "firing line." - thanks. i'm glad to be here. - why do you want to be the next president of the united states? - i am worried, margaret, that we are in the middle of this national identity crisis where my generation in particular, our generation, we're hungry for purpose and meaning and identity, and yet we hunger to be part of something bigger than ourselves, yet we can't even answer what it means to be an american. i think that loss of identity is responsible for a lot of our economic stagnation. it's part of what's actually even behind the loss of our fortitude on the global stage. and i think that i actually have a vision of what it means to be a citizen of this country, because i have lived the true american dream. and i am worried that will not exist for the next generation unless we do something about it. - what qualifies you to be the next president of the united states? - so the fact that i am an outsider is, i

we had schwab yesterday as well looking at job cuts. >> i thought schwab rationalizing their head countt of sense. david, people are making it sound like it was desperate, out of desperation. that's wrong. they're doing the right thing. too many people. >> so nobody should read into that anything negative about schwab? >> i think schwab is doing quite well. i think what the problem is we have to -- this is one of the things that's been bothering me. david, nobody really talks about the stock market. >> you talk about it. >> that's kind of my job. >> yes. >> i have people talking about the premier league and the champions league more than talking about the phillies and the braves. >> what's your point that people don't talk about the stock market? >> there was a time when -- other than nvidia -- you get together. i see people at the beach and i'd say, what stock do you have? now they say, go eagles. >> are you saying it's not a topic of conversation. >> yes. >> is that a good thing or a bad thing? >> quiet market not so bad? >> we can't change the rules, make it so you have to pitch fast

prices, and here, ecologically, fascism and the new world order, which is actively promoted through schwab soros, how is it affects the colossal growth of refugees fleeing from hunger and war, why they are trying to play against the indigenous population of europe western sanctions on russian belarusian fertilizers have made them inaccessible to most farms . more and more is turning into new gold, the un high commissioner for human rights said that in the next 30 years, more than 80 million people on the planet will face hunger. how to protect our silent agricultural harbor from international storms, we will look for answers together on the main topics on the main air. see on the belarus 24 naimani tv channel, i don’t want to wake up the run and lull the anchor. whispering leaves shine, the sun is forming our life. i would like to have a closer look at this world. and a skin day to discover something new, and for us it's tactics. 'cause we cut it out with love. with love for belarus, the republics discussed preparations for the belarusian-uzbek women's business forum, which will be hosted

he said, i free you from conscience, he went in this direction, but he did not have what the same schwabe algorithms that will understand me better than i am myself they will be able to predict my desires we manipulate their emotions and even make decisions on my behalf says yualharari adviser klaus mop. why is the slab's book - the great taymenkamf of hitler main-kamph - this is the awareness of some of his geopolitical world order, which is very old in its essence. going into these also deny christianity, but they have the technical means to implement their ideas, which hitler did not have in general, all these people. now they are trying to take lunch in russia for the defeat of the third, they want to create this direct continuation of the nazi reich. well , isn't that so? here. compare at least your situation is hopeless you lack ammunition supplies and food flee and leave you to your fate. your fight is useless. go to the germans. there you will find good treatment and food, as well as an early return to your homeland. this is one. and here is what nazi germany meant . but now some

prices, and here, ecologically, fascism and the new world order, which is actively promoted through schwaboros, how this all affects the colossal growth of refugees fleeing from hunger and war, why they are trying to play off the indigenous population of europe western sanctions on russian and belarusian fertilizers have made them inaccessible to most farms , wheat. more and more turns into new gold, un high commissioner for human rights. volker-tug said that in the next 30 years, more than 80 million people on the planet will face hunger. how to protect our silent agricultural harbor from international storms , we will look for answers together on the main topics on the main air , watch belarus 24 tv channel . we found the ad then. roma was also in search at that moment. we got together and called training sessions from our current club together. i just called reviews. and in principle, after that they immediately began. actually , this was the first experience for me. before that, i danced stably with one partner and, of course , it’s difficult to immediately rebuild to become a couple w

last trade is sponsored by charles schwab your tomorrow. you could think getting commission free trades is as good as it gets. but you know better. schwab free means more you get commission, free online trades and quality trade executions on our powerful platform. satisfaction guarantee. expect more from your firm. trade up to schwab. better place for traders. kudlow on fox business. i have enormous faith in america. this country holds the best path to prosperity and free market. capitalism is worth fighting for keeping an eye on washington. kudlow on fox business invested in you. these bills are crazy. she has no idea. she's sitting on a goldmine. she doesn't know that if she owns a life insurance policy of $100,000, or more she can sell all were part of it to coventry for cash, even a term policy even a term policy. even a term policy. find out if you're sitting on a goldmine coventry direct today at 808 49 8700 or visit coventry direct .com what you're hearing. if you start having a little trouble, you concerned that it's going to cost y

and here it is ecologically, fascism and the new world order, which is actively promoted through schwab, how is it all affects the colossal growth of refugees fleeing hunger and war. why are they trying to play off the indigenous population of europe western sanctions on russian and belarusian fertilizers have made them inaccessible to most farms , wheat. more is turning into new gold, un high commissioner for human rights. volkerturk said that in the next 30 years, more than 80 million people on the planet will face hunger. how to protect our silent agricultural harbor from international storms we will look for answers together in the main topics in watch the main broadcast on belarus 24 tv channel. belarus is endless forests, blue rivers and lakes, pristine nature, from which it is impossible to take your eyes off and belarus is people. and we reveal their destinies to you. we carry traditions through the generation at the same time we change our views on familiar things. all this makes the world a better place. we tell you about different people.

stuart: all right, schwab closing offices and cutting job s?auren: yeah, the downgrade and the banking sector is spooked and charles schwab down 12.25%. stuart: actor from hit show friday night lights left hollywood from montana. he says he's regained his sense of self and now he's using his time to help veterans. we have that story for you. the largest migrant shelter in new york city just opened and houses thousands of people and costs taxpayers $20 million a month. we have a report from the mega shelter. that's what we're calling it. the governor of oklahoma joining me and visited the southern boboard boarder and has an updae on the migrant surge right after this. ♪ i did have hearing aids from another company... i was just frustrated... i almost gave up. with miracle ear it's all about service. they're personable... they're friendly. i'm very happy with them. we provide you with a free lifetime of aftercare. meaning free checkups, cleanings, and adjustments. i see someone new... someone happy... it's really made a difference. call miracle e

liz ann saunders is managing director and chief investment strategist at charles schwab.he joins us now. it's great to have you with us given even the treasury market has been so volatile after the selloff we saw. now we see small gains. what does it mean for the year and the performance of the equity market? liz ann: it depends on fed policy and in turn, yields. it has been such a unique cycle, even in the short term. there are always conflicting messages that come from various economic data. it's not so much the level of the yields that matter. it's the volatility. we have had much more volatility in the bond market and we have had in the equity market and that is why usc none environment where higher yields typically mean lower stock prices and vice versa. i think that's one of the things that gave the market a bit of relief over the last several days, bit of a retreat in yields over the weaker economic data you cited. shery: if we think about the fed remaining data dependent, what is the data telling us about this debate ongoing about a hard or soft landing? liz ann:

so, steph, i turn to you bank of america, morgan stanley, charles schwab, what do you make of this? >> it's not good news but worse and more problematic for the regionals, the smaller banks the large banks are taking massive amounts of share from them and i think that will continue i think you want to pick your spots within the banks, within the financials, and i own bank of america i don't recall the last time it traded under .9 times book value. the company grew revenue twice of what expenses were. that's the story at bank of america, operating leverage. do you know they put $10 billion into technology investments over the last decade? they are seeing the benefits of that, and they had a very decent quarter. i think on weakness, it's a buying opportunity morgan stanley, to me, i like the wealth management piece. the ceo was on cnbc with leslie picker and basically said he thought based on activity and what he was seeing that capital markets bottomed a month prior to when they just reported earnings i think that is a nice theme at 15 times with a 3.7% yield and buying back a ton of

schwab said earlier this month it is expecting -- experiencing temporarily lower inflows of client moneyit sees attrition of some assets while it integrates te deum air to into its business. and elsewhere sbb, the center of sweden's commercial property crisis has been downgraded five notches by which ratings with a warning that more cuts could be on the way. the move to be minus puts sbb into junk status and follows a downgrade by s&p last month. fitch noted sbb's deteriorating cash position stemming from insufficient progress on asset sales as well as unfavorable real estate conditions. now chip designer arm has filed for an ipo on the nasdaq taking a step towards what is set to become the biggest u.s. offering of the year. we will have more details with bloomberg's alex webb. he joins me in the studio. just how big a deal is this? >> on several different levels, of course we have the political element. the concern in the u.k. that are biggest tech company is going to be listing in the u.s.. >> it is an embarrassment really. >> that is one way of looking at it not if you are arm itself.

and here is ecological fascism and the new world order, which is actively promoted through schwab andis all affect the colossal growth of refugees fleeing hunger and war, why are they trying to pit the indigenous population of europe against western sanctions on russian and belarusian fertilizers made them inaccessible to the majority farmer's farms, wheat. more and more turns into new gold, the un high commissioner for human rights, volker-tug, said that in the next 30 years, more than 80 million people on the planet will face hunger. how to protect our silent agricultural harbor from international storms , we will look for answers together on the main topics on the main air, watch belarus 24 tv channel . absolutely not far from minsk there is a city in which you will be happy to spend a single day picturesque places , i read a lot of interesting meetings in the ascension cathedral in borisov, but , to be honest, i didn’t think that it was so beautiful like a huge gingerbread house, being inside i can only name one thing word. it's cozy here. it's true, an unusual legend and a fascin

you have bank of america, schwab, which is another story in and of itself. good companies, terrible environment, explain why you want to own the banks. >> this kind of news will take all of them down. i do not want to own the regionals banks. i've been very clear about that. they are losing market share. they do not have the excess capital the majors have, and i think the cash sorting slows, which is what schwab said at their last call, we'll are to see how that plays out. that's actually going to be a better tail wind. net interest income was the bright is not for many of the banks, the majors. we have to see a steeper yield curve, what that does to the margin side of the equation. but they're not out of the woods and they will be under pressure when you get the announcements. i think there are winners in this space. bank of america is capital markets, wealth management and technology. a technology powerhouse. they've spent $10 billion in the last decade on technology. morgan stanley is totally capital markets,my mind. they have a great wealth management bu

in financials, how about a name like charles schwab. charles schwab has suffered from being a san francisco-based financial company. meanwhile it's trading at a low multiple and shown a lot of good momentum and organi ic growth. charter communications, a low teen multiple stock. it is starting to move it's up about 20% from the bottom recently. it has had a tough time getting there. those are names and stocks that we could find to buy here. >> shannon, the last word before we head out to break is this idea of a rotation making anything seem -- at least part of the market seem more attractive to you versus others? >> i think one of the things our team focuses on is higher earnings visibility, high quality and lower beta so, i think this rotation is moving closer into some of the areas of the market and particular industries that are represented by those categories. so, you know, some of the areas, food and staples, retailing, telecom, i think that we have been notably somewhat cautious this year as it relates. again, if you look at what'

and charles schwab reducing its office space in san francisco and other cities across the country int's a look at your dollars and cents. all right, pam, thank you. time is 849. will happening today. a popular fast food chain is celebrating a big grand opening at a mall in san jose. taco bell's second cantina in san jose will open at the westfield oak ridge mall. it's a cinema themed taco bell catena. it'll be right next to the century movie theater on blossom hill road. and like other locations, the modern version of taco bell will have a license to serve beer, wine and liquor. all right, let's stick with coffee at 849 in the morning, maybe tea or green tea for our pam cook. let's get you out the door to final check of traffic. this morning. oh, gosh. yeah and dave, the traffic, the last week has really been a reminder of what summer's over for. for a lot of people when it comes to the work schedule. anyway, this is a look at the commute. you can see the traffic is backed up all the way out to the maze here at the bay bridge. we've had slow traffic on 880. this is becoming the typic

plus charles schwab scales bac its office footprint just the latest example of tenants signing smaller leases and manhattan converting office space to homes we'll speak with one company that provides financing for some of those rather difficult projects >>> and kick up your heels go ahead, lean back, recline and listen to what the ceo of la-z-boy is telling us about home shopping trends and the state of the consumer right now. are they seeing the same weakness plaguing dick's, macy's and foot locker or not we'll talk to ceo melinda whittington ahead. but first the markets. dom chu has the numbers and maybe a 1% rally >> maybe and if it does happen for the s&p, kelly, it would be the first time that we've seen an s&p 500 1% gain ogoing all the way back to june 30th. this is a rare occurrence at least in the summer trading months the s&p 500 sits at 4429 up about 42 points, or almost one full percent right now just to give you an idea, generally positive day even at the lows of the session we wereup nine points on the s&p, up roughly 46 at the highs of the session so again, just right be

i'm carl quintanilla with seema mody charles schwab's liz ann sonders coming up with jackson hole kicking off. >>> and randy kroszner weighing in and breaking down the likelihood of what he calls a hardish landing. >>> the ceo of autodesk after earnings as that stock jumps on revenue beat and more enthusiasm about a.i. >>> let's take a look at markets. with the dow, s&p and nasdaq all trading lower. the nasdaq down 0.8 of 1%. >>> topping the tape today, jackson hole, as comments from philly fed president hashger seemed to turn the market a bit. both nasdaq and nvidia losing early gains. mike santoli is with us on the floor. i don't know if it's harker, necessarily. >> it was nonhawkish, to say the least, if that's the message we'll get more broadly out of jackson hole, i think it's acceptable to the market bond markets didn't get a jolted f jolt from that to me the setup has more going on, which is to say we had the minimally qualifying pullback, five minutes from the highs in the s&p 500. a luke warm comeback, people say this is make or break in terms of the trend and nvidia comes out, a

paypal naming a new head honcho, as charles schwab comes back down to earth. all the moves in the financial services space next. >>> plus, crude reality. oil off its highs, as concerns grow over growth in china. so, where are prices headed next we'repumping into the energy trade ahead. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. >>> welcome back to "fast money. paypal getting a push higher after announcing a new ceo a senior executive at intuit will take the reins next month he led intuit's acquisition of mail chimp we have some clarity here, dan >> i'm not into it >> oh. >> i'll just say this. this company, and we talked about it a lot after they reported earnings, another gap, two consecutive gaps in a row, and investors in fin tech don't care about valuation the way they didn't care onnen the upside about a year and a half ago to me, that sort of clarity -- i am into it a little bit, i think is pretty good, it's a good fin tech sort of transitional sort of leadership, so, to me, again, i think

and here environmentally, fascism and the new world order, which is actively promoted through the schwab and soros, how it all affects the colossal growth of refugees fleeing hunger and war, why they are trying to play off the indigenous population of europe western sanctions on russian and belarusian fertilizers have made them inaccessible to most farms, wheat. more and more is turning into new gold, the un high commissioner for human rights volkertug said that in the next 30 years more than 80 million people on the planet will face hunger. how to save our quiet we will look for answers together for the main topics on the main air on the belarus 24 tv channel . here is your edge and your strength. truth perrot cop. forgive yourself. collapse and tear off a special one manta. she got wet, tell me the elements. skin croc and one not with nature. wild watchful own yelnya belarus over it i greet you, everyone is glad of this opportunity. my name is denis bugulov. i came here from russia from vladikavkaz and have been living and working in minsk since 2007. i ended up in belarus absolutely b

environmentally friendly, fascism and the new world order, which is actively promoted through the schwabll affects the colossal growth of refugees fleeing hunger and war, and why they are trying to play off the indigenous population of europe western sanctions on russian and belarusian fertilizers have made them inaccessible to most farms, wheat. more is turning into new gold, un high commissioner for human rights. volkerturk said that in the next 30 years, more than 80 million people on the planet will face hunger. how to protect our quiet agricultural harbor from we will look for answers to international storms together for the main topics on the main air, watch belarus 24 tv channel . each city has its own secrets. the main thing is to dig deep into history. here , for example, local historians assure that at the very beginning the city was completely wooden, and even sidewalks were made of wood, which was not the case in many cities of that time. it is impossible around baranovichi that they have not been preserved, unlike arkhangelsk, moscow and even london , by the way, everyone kn