china understands the importance of tesla. tesla is in many senses, the crown jewel.a wanted to retaliate, tesla would be an easy target. remember tesla has big plans for china. not only do they produce a lot there, but it was going to be a big market for them. certainly this would keep me up at night if i was on the board of tesla. he's going to have to figure out how to move forward. emily: you wonder if it is keeping up elon musk. tesla us valuation, spacex's valuation, how much is on musk alone, his cult of personality? catherine: i think currently a lot because he does have this fabulous track record and people look at what he does. he can take anything and turn it into gold and he's done it. he deserves the reputation. but a lot of those things can be learned. i go back to steve jobs and apple, i never thought apple could make it without steve jobs. guess what, i was wrong. apples beat in the stock market by a thousand percent. there is life after elon musk, there's life after all of us. but i don't want to minimize his importance to spacex, and i think it's rea

even with the most advanced camera and radar tech, that includes tesla. with the most advanced stuff at the table, it doesn't work to stop a basic, basic scenario decoy. then leads to the other criticism there too, okay if we can't get the basic stuff to work, why are we trying to be able to make full self-driving there too. that's the other part of the criticism of just a, you know, false marketing. that's why california is now aggressively going after tesla as well and threatening to not allow them to sell car ifs you don't change the marketing and that's the marketing issue around the "self-driving" stuff and it's not in fact self-driving and has some of the most basic fundamental problems of every other car that does accurately avoid things. liz: there are rumors, austin, that tesla has been looking at luminar, possibly considering it. are you laughing? why are you laughing? you're saying no? is that a confirmation they're not or -- i mean, is this a possibility? >> yeah, yeah, don't take a laugh as a confirmation. listen, there's leaked reports out t

the tesla net margins are 17%.he other majors are from people making cars for years at 6% and it's there 12 consecutive quarter of profitability, awfully good news for investors. it's no surprise to me that tesla is flirting with a $1 trillion valuation and the big question today will be about corporate governance and esg. it should be fascinating. emily: meantime we are entering a tough space in the economy. even elon musk said he had a super bad feeling about it. how should tesla fair in a recession? people dropping money on new electric cars? >> the fact of the matter is that they are posting record sales. if you want to purchase one today, it's a year-long weight. the interesting thing is how many do you manufacture? that's where it gets interesting. they will go from 900 and 25,000 vehicles to 1.5 million. other firms are not selling a fraction of that. the real question is who has figured out supply with factories up and running. tesla buying factories. california, texas, germany, china, all gearing up. most

the last time tesla split was back in august 2020.here are number of other proposals on the table including the assessment report on ongoing risks when it comes to labor as well as materials. as well as policy when it comes to their culture and arbitration which has been a pretty big hot button issue at a number of tech companies. there are a number items. right now we are hearing that one has been approved, the 3-1 stock split. we will continue to get more details. elon musk is always a source of interesting comments. >> minutes earlier, we had twitter saying that elon musk is accused of fraud in a countersuit. tesla is gaining after hours. this has been an interesting shareholders meeting. you mentioned some of the proposals that are being passed. a voting on them right now. the main one is the pre-one stock split. let's listen to what elon musk is saying. >> i'm proud of the fact that we have been able to produce more cash than we have spent. and have positive retained earnings. i think it's going to go up from here. [applause] [la

>> i am bearish for tesla on valuation.f money over the next few years. >> we've talked a lot about splits the last few weeks but again today. is there a sense net-net whether or not -- i mean is it a wash, is it net bullish, net bearish how do you view tesla in the 200s rather than the 900s? >> usually what it is, it's an indication that management is themselves excited about further value creation, right? tesla will be doing -- making 40,000 cars a week by the end of the year their capacity jumped to 1.9 million units in the second quarter. so they're obviously executing impeccably they want to hold on to the valuation and make it easy for retail to buy the stock because retail is such a large component of the shareholder base in tesla, such a large driver of the valuation. so, you know, functionally, yeah, it makes sense for them to do this. and typically large cap stocks when they're splitting do perform pretty well. we're just skeptical because we see a lot of good things on the horizon. you just talked about plug ther

. ♪ ♪ elon musk says tesla's full self-driving software is “amazing”, it will “blow your mind.” work? this happens over and over again. 100,000 tesla drivers are already using full self-driving on public roads. i'm dan o'dowd. i'm a safety engineer and tesla full self-driving is the worst commercial software i've ever seen. tell congress to shut it down. paid for by the dawn project. non-gaming tribes have been left in the dust. wealthy tribes with big casinos make billions, while small tribes struggle in poverty. prop 27 is a game changer. 27 taxes and regulates online sports betting to fund permanent solution to homelessness. while helping every tribe in california. so who's attacking prop 27? wealthy casino tribes who want all the money for themselves support small tribes, address homelessness. vote yes on 27. >> students in alameda are back in class today. if you things have changed. masks are no longer required but recommended, recommended, and of students are are exposed to covid, they can come to school but they will have to wear a mask for 10 days. days. parents and stud

deal has been an overhang on tesla stock.will continue to be, something that weighs on the stocks. even though we have seen a bullish run. earnings, getting through that. also, president biden's climate bill. who will hang over tesla shares until this is resolved. we have a case ahead of us. thank you very much. let's get the first word news. >> u.s. house speaker says the chinese president is acting like a scared bully over her visit to taiwan. she told nbc they wanted to refocus on the region although the white house is trying to distance themselves. close he told nbc that congress would not face the intimidation. >> he is acting like a scared bully. this was before the meeting where he would want to be reelected. >> 2.7% in july. it amounted to the fastest inflation rate in two years. the rise in prices has slowed from six point 1% in june. u.s. justice department is preparing to sue google soon as next month for illegally dominating the ad market. be their second case against google. in a statement, technology helps small

might tesla do something similar? do we risk in the bear case looking at it too much >> i think that's a great question and there are several potential opportunities that tesla can create for itself. the whole world of autonomous driving for $15,000 per car is a significant market opportunity tesla has also talked about a humanoid, a robot, in essence, that could displace manufacturers or manual labor in the workforce going forward and this could be a significant opportunity. they're delving into areas like insurance as well. so there is significant option value from tesla i think in tesla's case perhaps similarly to apple is just betting on innovation. apple was only a mac or pc company 20 years ago and then everything changed with the introduction of the ipod and ultimately the iphone. it has evolved into a different company going forward and the question is does one bet on tesla's innovation going forward and there is some that is priced into the stock given that tesla today basically trades at a higher valuation t

the other big question, does that mean there is less attention on tesla? notable that tesla is managing to rally. that shows you the risk on mood everyone is in. we can get to the man who knows about these, ed ludlow. talk about not wanting to create undue stress on the share price. did that give us any inkling of where his mind is at on the twitter deal? ed: yeah. there has been a few things. his thinking, according to the tweet, to avoid the scenarios you outlined, one is that he did not want to fire with tesla stock in case the judge forces him to go through with the deal. and the second stipulation that he is hedging against the equity financing partners he lined up walking away. there is speculation in the market the timing is interesting. these regulatory filings show the stock was sold august 5 prior to the cpi print. maybe there is an element of preparation for market volatility. jon: i alluded to this earlier, but dana hull does excellent reporting for the team. put out a story looking at the big things tesla related that are on the agenda right n

elon musk selling $6.9 billion of tesla stock. what you tweete -- what he tweeted after the regulatory filings wednesday night was he wanted to make sure he had the capital in the event that a judge in october when the deal between twitter and musk goes to trial, were two and four study of the cash on hand, taking into account the financing partners he had lined up to help him buy twitter if he is made to buy it. worth noting we are in a risk-on day where tech was up more broadly. the breaking news is disney. so fascinating, because it is a mixed basket of results when it comes to the financials. up around 6% in after hours. the company adding more subscription to disney+ in the quarter than expected and raising prices by 30%. 8.5% inflation in the month of july, disney raising prices 38% on disney+. interesting what the market is loving, but they are liking it after hours. emily: all right, ed ludlow. i want to dig into disney's results more. i have a long time disney shareholder on. mixed bag, adding 14.5 million new subscribers

. ♪ ♪ elon musk says tesla's full self-driving software is “amazing”, it will “blow your mind.”k? this happens over and over again. 100,000 tesla drivers are already using full self-driving on public roads. i'm dan o'dowd. i'm a safety engineer and tesla full self-driving is the worst commercial software i've ever seen. tell congress to shut it down. paid for by the dawn project. non-gaming tribes have been left in the dust. wealthy tribes with big casinos make billions, while small tribes struggle in poverty. prop 27 is a game changer. 27 taxes and regulates online sports betting to fund permanent solution to homelessness. while helping every tribe in california. so who's attacking prop 27? wealthy casino tribes who want all the money for themselves support small tribes, address homelessness. vote yes on 27. >> a bit of a lifeline for san francisco laguna hospital, medicare payments will keep flowing to the facility for an additional two months. the new cut off date has been pushed back to november 13th, the extension will give state and local officials a chance to correct defi

a at sex them on the month with a single name, tesla.is the demand they have seen, tesla is where they are seeing trading volumes and inflows, so our get regulators are getting a little worried about this because you are making outsized that on a stock that can move in either direction depending your conviction. given what we've seen in the markets, it's an area we should keep an eye on. emily: would you rather subscribe to a tesla than own? joining the is the founder of autonomy, and ev rental company that allows customers to reserve their own tesla and other electric cars in just minutes. how would you describe what you do that is different rather than a typical rental car company? scott: a rental car is going to cost you a lot more. it's a good option if you need a car in a city where you are visiting for a couple of days but flexible access to mobility is about avoiding going into debt and making it easier, faster and less expensive. one of the big barriers to electric vehicles is affordability. the average car payment in america is

and elon musk selling $7.9 billion in tesla shares.alk about the latest chapter in his fight with tesla. >>> and a judge ruling in the battle between live golf and the pga tour it's wednesday, august 10th, 2022 "squawk box" begins right now. ♪ >>> good morning and welcome to "squawk box" here on cnbc. we're live at the nasdaq market site in times square i'm melissa lee along with andrew ross sorkin joe and becky are off today. let's take a look at the market due out later. s&p looking up 11.5, dow up by 73, nasdaq higher at 45. this after nasdaq lost more than a percent yesterday. take a look at treasury yields and where we stand there the 10-year note is at 2.777%, so fairly stable ahead of cpi at 8:30 andrew. >> thanks, melissa

. >>> up next, is tesla making misleading claims? the accusation from the dmv against tesla's self-driving features. >>> it's he's why i to buy those back to school supplies from the comfort off your couch. will they arrive in time for the first day of school? i'm consumer investigator. we'll show you what our team found next. >> i'm jeff ranieri. great looking weather along the creek. 83 right now. 70s by 7:00 and 8:00. i'll show what you we're in store for tomorrow. fort my fullecas large out-of-state corporations have set their sights on california. they've written prop 27, to allow online sports betting. they tell us it will fund programs for the homeless. but read prop 27's fine print. 90% of profits go to out-of-state corporations, leaving almost nothing for the homeless. no real jobs are created here. but the promise between our state and our sovereign tribes would be broken forever. these out-of-state corporations don't care about california. but we do. stand with us. >>> all this week our response team is sharing tips to hel

will he have to sell more tesla shares? with zenith on past, he says i won't sell anymore, now here we are, he is selling more. i would be cautious about that from the tesla investment standpoint. >> believe what i do, not what i say. i don't believe a single thing this guy says, to be honest with you. all this is is him hedging his downside risk, selling shares, while he can, before he is forced to do it in a fire sale. there is nothing else to read into it. back the timing of the trade, from a trading perspective guy, after tesla shares have run out more than 30% from july. this could have been a cpi report that could have been the other way, especially from the perspective of a guy that feels like he has a super bad feeling about the economy, the timing was pretty good. >> it was extraordinary actually, perhaps we should reach out to him to see if you would come on as a panelist on "fast money". >> he has done everything extraordinarily well, up to this point. again, now it gets difficult. now will be the most difficult

tesla has cleared the way for a three to one stock split.ll have more from the annual shareholders meeting next. this is bloomberg. ♪ how will your business adapt to change? you could hire an office full of peyton mannings. what's up, peyton? good morning, peyton. hold for peyton. they'd huddle.... welcome to the peytonverse. such a visionary. game plan... you go. no, you go! and call audibles... double our investment in omaha! omaha! omaha! omaha! or you could use workday. omaha. the finance, hr and planning system used by over half of the fortune 500. for a be-agile-like-an-mvp world. workday. for a changing world. ♪ manus: together on "bloomberg daybreak: europe." it is friday with manus cranny in dubai, dani burger in london. big split at tesla. dani: that's right. they had their agm last night. the carmaker approved a stock split. it did not disappoint. joining us now is bloomberg's laura wright. let's start with the stock split. what is the significance of it? laura: it is going to democratize tesla's share price. it is a three to one

i think this is negative in the near term for tesla.bout the twitter deal ultimately i think this is more about tesla delivery numbers, but to put it in a nutshell, the probably of this happens goes up elon doesn't want this deal to happen. >> you're looking at twitter stoic up a little other 3.5% gene, great to see you this morning. thank you for joining us a quick final check on the markets. we're in the green across the board. things have moved up materially. dow up about 411 points, nasdaq up about 300 points. melissa, thanks so much for hanging out this morning. >> see you tomorrow. >> see you tomorrow. make sure you join us all tomorrow "squawk on the street" begins right now. ♪ >>> good wednesday morning, welcome to "squawk on the street." i'm david faber. he is jim cramer we are live from the new york stock exchange carl has the morning off let's give you a look at futures. they changed a bit since we got the cpi number they're up even more let's get to our road map. it starts with the slight easing in inflation as you saw, as a

your tesla daily bull etf gets investors 1.5 times tesla's daily return how would you describe the trading? what's going on and who are you targeting this product to considering it resets every day? >> yeah, you're absolutely right, bob this is really a new wave of innovation in the etf space and primarily our tesla fund tsll has seen significant increase in volume as traders, and these are tools intended to be used by active traders because of their daily reset who have the ability to make a buy, sell, or hold decision again daily to express views both positively and negatively on individual securities, whether that's tesla or in our case apple so we're excited about being able to bring this innovation to the etf space as the etf wrapper had significant amount of resiliency again, these are tools intended to be used for traders, have the convenience of an etf, the ability not to have to use margin, for example, to express a leveraged viewpoint if you will. >> i'm impressed with the volume you have to be happy a tesla product seems to be attracting a lot of trading interest. >> yeah, that'

. ♪ ♪ elon musk says tesla's full self-driving software is “amazing”, it will “blow your mind.” work? this happens over and over again. 100,000 tesla drivers are already using full self-driving on public roads. i'm dan o'dowd. i'm a safety engineer and tesla full self-driving is the worst commercial software i've ever seen. tell congress to shut it down. paid for by the dawn project. >> the stage production of "the lion king" has been memorizing audiences for over 20 years. even now, it's opening number, circle of life, is considered me considered more of the unique performances of all time. there is still time to see the show at at the san jose performing arts center. we go behind the scenes. scenes. >> reporter: every day, he brins he bring the character to life in the north american touring stage production of "the lion king". >> figuring out how how the first mous , the fostering and all the different things it does, the withering sign. >> reporter: it is just one of 200 puppets used in the show which also features puppet giraffes that stand 18 feet tall tall to a 13 foot lo

assumption first, anything that helps the ev market is good for tesla, particularly in the u.s.re they have over 70% share second, like i said, the domestic battery requirements that they're very well positioned to meet because they're already doing a lot of this in the united states, and lastly, remember, tesla buyers haven't had the $75, $1,000 tax credit because they've already coming become to tesla >> it it seemses that we're subsidizing income, people wo can afford these cars. why? that was from what woo understand, a debate back and forth in the senate and there are income requirements and price caps you can't get a car that's over $80,000 and it's a little bit less than that if it's not an suv. so there are certain restrictions and caps on this. we're just trying to, i think, as a kuculture and as a country accelerate renewables. >> tesla has proebbably raised e price of the model 3 over the last 12 month, wouldn't you say? >> pricing impacts may have had a small impact on their order book given the price increases that they put in place so this does re-accelerate order

i'm a safety engineer and tesla full self-driving is the worst commercial software i've ever seen.ss to shut it down. paid for by the dawn project. seen this ad? it's not paid for by california tribes. it's paid for by the out of state gambling corporations that wrote prop 27. it doesn't tell you 90% of the profits go to the out of state corporations. a tiny share goes to the homeless, and even less to tribes. and a big loophole says, costs to promote betting reduce money for the tribes, so they get less. hidden agendas. fine print. loopholes. prop 27. they didn't write it for the tribes or the homeless. they wrote it for themselves. > >> the 49ers face-off against the packers at levi stadium tomorrow. you can only catch that game right here on kpix 5. trey lance is taking over as the new starting quarterback for the 49ers. years years before his football career career took off, those who grewp with him say he was a kind and caring kid. always smiling and a a joy to be around. max has the story from trey's hometown of marshall, minnesota. >> reporter: before trey lance became a nam

. ♪ ♪ elon musk says tesla's full self-driving software is “amazing”, it will “blow your mind.”k? this happens over and over again. 100,000 tesla drivers are already using full self-driving on public roads. i'm dan o'dowd. i'm a safety engineer and tesla full self-driving is the worst commercial software i've ever seen. tell congress to shut it down. paid for by the dawn project. >> a newly released report is raising concerns about what happens to the water supply whea major earthquake hits. kpix 5's andria borba breaks it all down for us. >> reporter: a newly released report from the san mateo county mateo county grand jury is raising concerns about what happens to the water supply when when a major earthquake hits. they are the images sered to the the brains of residents. the afh of a major earthquake. in sunny san mateo county, the infamous n andreas fault cuts a path righth it, and another fault skirt it is coastline. at cal water bay shore, that provides water to san mateo, south san francisco, san carlos, and others, the thrt of an earthquake is always on their minds. >> w

tesla.n investing in tesla for eight years now since 2014, made about 20 times your money, made about $60 billion, $70 billion on a $380 million investment i think we'll make three to five times our money again in the next ten years i am so excited. the next ten years i think tesla will be the largest company in the world and ten yeerps after that i think ten years after that it will be challenged by spacex >> when he used to say things like that five years ago, i kind of laughed at him. now you can't. tesla, by the way, i think the split happened, right? so don't be fooled but, you know, it's almost a trillion-dollar market cap even now. >> you do? >> i've known ron baron since 1987 there isn't anything about him given to hyperbole >> so the spacex challenging tesla -- >> the first part. the spacex is harder for me. but tesla is -- >> up to $125 billion-plus on its last raise it keeps going higher unlike other private companies, many of which if they're forced to -- >> the bears are try so

not exact opposite but tesla is flat phil >> tesla is not moving ahead of the annual meeting that willening a little later on today. let's start first off with tesla -- or lucid, excuse me the reason lucid is under pressure and it started after the company reported q2 reports after the bell, it is about the production guidance. they cut it by 50% for the full-year production, down to a target of 6,000 to 7,000 vehicles remember at the end of last year they were planning to build 20,000 vehicles this year. the primary issue right now, logistics. when i talked with the ceo after the numbers came out, peter rawlinson said we have an immature logistics systems right now. they're bringing in a new head of operations and they believe they're making the changes necessary to improve their production and hit that 6,000 to 7,000 target as you the a look at shares of lucid, keep in mind their reservations for the lucid air have gone up to 37,000, but it is going to be further out before many of those people, if it stays at 37,000, actually get their lucid air because they simply have not increase

plus, elon musk sells more tesla shares. i will speak with one of his long-time friends, david sachs who has been subpoenaed by twitter ahead of the trial. and of the key metric for roadblocks sent shares tumbling. overall bookings are unexpectedly dropping in the second quarter. what does that tell us about the making of the metaverse? dave will join me one-on-one. let's get a look at the market tech stocks jumping after data showed inflation decelerated in july. ed ludlow here with the big moves. >> uscp i, a .5% gain in july there. the estimate was 8.7%. decelerating inflation. cooler than expected inflation. outperforming the s&p 500. the broader index. it is worth noting the technology and information and communication sectors on the s&p 500 were among the best-performing. they have dropped by the most since june. on tuesday, a narrative around changing demand for electronics. they got the regulatory findings wednesday night. if the judge were to enforce it, he had the cash on hand. that seemed supportive for both. tech

since june, both patterns spotted in apple, tesla. can you imagine the higher highs and higher lows along with the five day and 13 cross over. what incredible moments. however, they've already had these rallies. the question is whether stocks have run out of juice or is it too late. you know my favorite. many other stocks by the way. apple's rallied more than 44 bucks. not a good sign. it's very similar to a fire rally. apple gained $44.67 before. $44.67, $44.66. pretty similar. you know what, always looking for patterns based on past swings and stocks. i can't tell you why. it definitely happens here. she says the last rally creating the resistance here at 173. again, she looks at this and matches it with that. says this isn't going to go further than this time. we are resistant. >> however, if the stock is less than a dollar from here and stay up, he could easily see it $197.60. the team levels of starting to exhaust itself. that's how she gets to $197 price charge. i'll take it. this applies the same set down here's trajectory has

, ceo elon musk tweeted today that tesla has broken the 3 million mark.i factories reportedly responsible for making 1 million or one third of all tesla's now in existence. it is a big marker for electric cars it is small for the market. in comparison toyota delivered over 10 million vehicles in 2021 alone. >>> anthony joining us now and i have to say the giants may not be in the absolute middle of the hunt. but they look good today. >> one thing funny about the pandemic there is nobody here in the newsroom so sporting events like the warriors, 49ers and giants. no one is yelling at the screen. there was a lot of yelling and screaming today at oracle park. they beat the pirates in dramatic fashion with a game- winning home run and the giants walk off pitcher we will show you in sports next. for years, california's non-gaming tribes have been left in the dust. wealthy tribes with big casinos make billions, while small tribes struggle in poverty. prop 27 is a game changer. 27 taxes and regulates online sports betting to fund permanent solution to homelessne

it is a battery supplier to tesla.lds up across the curve, and even the dollar not immune from the move. we will have that had. stick with us. this is bloomberg. ♪ jon: this is bloomberg markets. we mentioned earlier shares climbing up the brokerage was acquired today by candida's td's bank. they acquired first arising early this year. td selling some shares in charles schwab to finance the transaction. let's bring in glen gibson, vice chair and regional head of td securities. i will start with what method you think -- message you think this ends about the ambitions on wall street. glen: thank you for having me. it's a great opportunity for td to support broad-based clients in united states. adding the cowan team, the capabilities they bring to the table gives us a tremendous combined platform to service our clients across north america. it fills in some of the capabilities we were looking to add in our td securities business, a broad research platform and a strong equity execution platform. we are excited to have the

i'm a safety engineer and tesla full self-driving is the worst commercial software i've ever seen.ss to shut it down. paid for by the dawn project. ♪♪ a new chevy is the smart way to hit the open road this summer. the smart way to road trip, and seek new adventures. go a little farther this summer in a new chevy. find new get up and go. find new roads. enjoy the open road and make no monthly payments for 90 days on all 2022 silverado 1500 pickups. plus, get 2.89% financing when you finance with gm financial. find new roads at your local chevy dealer. >> back to the breaking news of the wildfire burning year 580 in in castro valley, a good look at at the flames and more smoke right there, and you can see cal cal fire, they have their planes planes up in the air and getting getting ready for a retardant drop, as they look at the hillsides we are already painted painted red, this is happening again along i-5 80 in castro valley, eaton canyon road, and paul, you were talking about some of the temperatures in that that area, you said the winds, not too bad. >> four mph gusting to 10 mph

i'm a safety engineer and tesla full self-driving is the worst commercial software i've ever seen.ss to shut it down. paid for by the dawn project. >> for some living near the freeway makes life easier but not the case for one man that has seen two dozen cars crash into his home. his home lies a block away from the jackson avenue exit and i-680. it left his home vulnerable to drivers exiting the freeway too fast. he says the exit he has been dealing with since the '70s. he tried reaching out to the ends up getting seriously hurt. >> every time hit we have been home. four times they have gone as far as the kitchen. take out the center lane, no right hand turn from the center. >> insurance covered most of the but he spent more than $30,000 just on metal fencing. metal fencing. > >> live look from san jose where where the first every navy week is underway. bringing sailors to the community and volunteer and educate people on naval history. today, sailors were leading and lending lending and helping a hand at the second harvest food bank. san jose navy week runs through sunday august 2

but tesla did very well and so did a electric vehicles.perkins chair john doerr on what he calls possibly the worst investment decision of all time, not backing elon musk. in south korea, the excitement and loyalty to the company and elon musk avenue reached a new level. let's bring in our report are. why is elon musk and tesla popular among south korean investors? >> tesla is popular among retail investors around the world but in south korea, it is especially so. it is the most popular foreign stock among south korean retail investors. there are many tukey reasons. one is tesla's wild stock ride, roller coaster movements by shares that appear to present them this opportunity to strike it rich. when stocks tumble, they find it a chance to buy and when the stock surges, they see it as a chance to get rich and climb the financial ladder by -- financial ladder by betting sometimes their lifesaving. in the second reason is, we can't talk about popularity of tesla without talking about elon musk. for a lot of investors in south korea, elon musk

he also says that tesla is not done spending. remain strong didn't give a dollar figure saying it will remain strong here's his thoughts about the possibility of a share buyback >> i think we want to make sure we have plenty of capital, and that future cash flow is looking very solid and the world is relatively stable and then i think shbuyback is on the table. >> first half of the year in the u.s. tesla had a little over two-thirds of market share when it came to the ev market expected to drop over the next couple years as others ramp up offerings. he says they are likely to pick the site of the next diga factory sometime next year no indication where. look at shares of tesla over the last three years one question comes up at these annual meetings, is musk going to stay with tesla he has no plans to leeave, he says. >> as long as not captured by aliens i see exactly what he said to shareholders. >> yep. >> talk to us about the pipeline update on the cyber truck and other products to expect from tesla in coming months >> cyber tr

. ♪ ♪ elon musk says tesla's full self-driving software is “amazing”, it will “blow your mind.”k? this happens over and over again. 100,000 tesla drivers are already using full self-driving on public roads. i'm dan o'dowd. i'm a safety engineer and tesla full self-driving is the worst commercial software i've ever seen. tell congress to shut it down. paid for by the dawn project. >> let's go back out to that breaking news outside of alameda alameda county, chopper five flying over a fast-moving brushfire, east of union canyon road off of 580, when you look at these images earlier the fire fire was racing up those hills, and the neighborhood, on top of the hill ridge, and the firefighter and cal fire was trying to protect with some fire fire retardant drops. >> you can see where the smoke is blowing around those houses right there at the top of the hill, you can see the hillside chart all the way down to the freeway, which looked like it might have served as a natural firebreak, but traffic has really backed up, paul has said that the winds have been relatively calm, so if you co

tesla. elon musk taking the stage for the shareholder meeting.share buyback and his 2 cents on recession and potential plans for another gigafactory. phil lebeau with more on what we know wide ranging and i would call it fun sort of muskian view from tesla. >> he wasn't negative. he was even keel you never know what you get with the annual meeting especially in the q&a period he talked about a quite variety. brian, let's start off with the economic views this will get a lot of attention today. in particular, the belief that he believes we will have a mild recession. he thinks it is likely maybe it will last 18 months he says we are past peak inflation. he says they are seeing rapid inflation drop as they look at future commodities and start forecasting we go out six months and here is what we see with the commodities we need with the vehicles we're building. speaking of building vehicles, a gigafactory, according to elon musk is likely to be picked next year he did not hint where this might happen he says we might see a site picked by the end of

tesla is a really interesting example. the stock is down almost 2.5%, the whole point of the leverage is you want to look at outside gains when there is movement in the stock. depression is one of those providers launching her. this is the 1.5 x 1.95 shares. the stock went down 2.5%. that is the risk. at one point five times, that means the etf fell nearly 5% or 4.6% during the tuesday session. if you think the stock is going to go down, it is the ticker on the day when the stock was 2.5% lower. this inverse etf went up. regulators have been talking about this for about a month because it is not a new product. asx came on the market 30 days ago. this is the demand they have seen. they are offering a number of products but tesla is seen -- this is where they are seeing training. given what we have seen in the markets of late, it is an area we should keep an eye on. >> thank you. would you rather subscribe? the ceo scott painter with me now. how would you describe what you do differently here than a typical rental car compan

go back ten years when tesla was trying to ramp up the model s. a different time, but struggled to get parts from suppliers who maybe weren't motivated to help the new guy. the nature of the auto industry. you just compound that challenge here in a period of time when there are less parts and shortages for all. rivian is having to learn on the fly. >> what about the inflation reduction bill a significant boost for ev firms or ma brginal >> you have to assume the $7,500 credit there for them. now they are selling vehicles that are too expensive listening to the rivian ceo yesterday, you are seeing him try to find positive he thinks the next product is the r2 lineup will hit in 2025 this will be applicable for the credits. that's good news it is supposed to be cheaper and they are building supply chain for the cells based upon the u.s. domestically. that is important. you look at the next six months or the next year and you have to imagine they are hoping to have that credit to help lower the cost of the vehicle. the initial sales, you know, those a

i'm fety engineer and tesla full self-driving is the worst commercial software i've ever seen.ss to shut it down. paid for by the dawn project. >> after the pandemic turned the the education system upside down, schools are working to help students catch up on material. >> in contra costa county there's a math teacher whose taking an unorthodox approach to to get his students to listen up. i had a chance to be a student for the day. school is starting soon, but, for some kids they were already in school, summer school, or leadership class. some may think think that's pretty boring, not here. welcome to mister orozco's orozco's math class. >> [ music ] reporter: he calls himself i'm so math, and it's morphed into a pretty cool wrap. this is is jordan orozco's fifth year of of teaching, he's a proud graduate of deer valley high school in antioch. >> i'd don't know if you can see see i have my class shirt on my wall. >> reporter: he decided it was time to get his students to start paying attention. >> i try to wrap stupid little raps in class, when the i was like i can make a math

tesla has had a hard time getting full self-driving mode out there. van -- i believe they have an order from fedex, then there's just the fact in general, general motors six times earnings, there's so much pent-up demand i had to buy a car this weekend. there were no incentives, no thanks for talking about us on air here is the manufacturer's retail price, pay it and shut up. >> did they say shut up? [ laughter ] >> i mean, no woman has ever been glared at more and smiled at than my wife when she -- >> i've got to be fair to my guys, jared and torrie at gm, they take good care of me. [ laughter ] >> shannon, the ev market is not fair, the market is giving tesla a pass those are the words you told our producers today. expand, please. >> tesla is a tech company, ford and gm need to make money on these cars i think it's an apples to oranges comparison you know, if you want to be buying a car manufacturer, then you make your choice between ford and gm, just like jim said. i continue to think of it as they're put into two different camps. the expectations

tesla close up since yesterday but overall, tesla stock has fallen about 50% 50% in 2022. here are the closing numbers for the day, docs and wall street rates work up after the highly anticipated interest rate speech force. alphabet, which is google and amazon compass with their stock earlier this year. they saw of brief rise but are down for the year. we will see if tesla can buck the trend. back to you. > >> the state attorney general announced measures taken to enforce the california consumer privacy act, reprimanding a big time retailer. beaureta seoris busine who failed to disclose to you that your information was taken and illegally sold as part of an enforcement sweep the attorney general's office conducted. sephora has to paes$4 about the doefforts to have them comply with the law. consumers have the right to opt out of sale. >> the department of justice is launching a new investigative sweep of businesses who don't allow consumers to opt out of request for your privacy preferences. > >> in san francisco, house speaker nancy pelosi discussed the inflation reduction

. ♪ ♪ elon musk says tesla's full self-driving software is “amazing”, it will “blow your mind.” work? this happens over and over again. 100,000 tesla drivers are already using full self-driving on public roads. i'm dan o'dowd. i'm a safety engineer and tesla full self-driving is the worst commercial software i've ever seen. tell congress to shut it down. paid for by the dawn project. >> all right, welcome back. tennis superstar serena williams williams is gearing up to retire retire from the sport that made her a household name. michael george has reaction from you, the fans, on her big announceme. big announcement. >> reporter: tennis great serena serena williams detailed her plans to step off the court for good with a personal essay in the september issue of "vogue" magazine. the 23 time grand slam slam champion wrote, i never liked the word retirement. adding, maybe the best way to describe what i am up to is evolution. williams broke barriers as a young blackstar rising to that stop top of tennis in the sports world. she and her sister venus transform the game, together winn

strike a big stumbling block for tesla tonight, they are accusing tesla of engaging in deceptive practices around the marketing of its autopilot and full self driving features. they say the marketing suggests that cars are capable of operating autonomously, when in fact, they can't! the california office of administrative hearings, tesla has about a week to respond or the dmv will make a decision on its own. the electric car company could temporarily loose its licenses to manufacturing to sell cars in california. an update now on the elon musk twitter saga. according to the billionaire, the deal could be on again under certain circumstances. musk says he is willing to move forward if twitter provides information about its number of spambot accounts. he's been trying to call off the deal since april saying that the company is putting the information from them, but for now the two are taking each other to court over the $44 billion deal listed for october. stomach 18 is into the hospital tonight after someone rushed to save them in a home full of explosives. it happened in hollister last nig

tesla will get two additional tesla shares after the market closed.he stock begins trading on that split adjusted basis tomorrow and ahead of it tesla up half a percent to $893.69. tesla splitting a stock at time when demand for all car continues to vroom forward. up next, my interview with ceo mary barra. we'll ask how she and team gm will handle the demand rash while ramping up production to meet the ev goals and match buyer's desire to get their hands on thou those new cars and what's on the re-instate of gm's dividend last friday that sent the stock into overdrive? gm ceo mary barra next here on the "claman countdown". 28 minutes till the closing bell. we are coming right back. liz: kind of stunning news for anyone expectiing a buy a new car. overwhelming demand for new vehicles this month will push car prices to record highs. that's what jd power and l.l.c., predict in their new report out today that shows the average transaction prices will smash through previous highs to a record $46,259. that's an 11.5% increase from just a year ago. horrible

haidi: tesla shareholders have approved that stock split.n musk has also been talking about future factories, supply costs. let's bring in ed ludlow. we started with news of that approval being floated through. since then is been talking about inflation coming down, because coming down. >> he made interesting comments on the economy. he does a presentation but also given day, and this was one of the questions and he cited the downward trend in tessa's quantities and components cause. because i is this global purview with factories in asia, europe, the united states and he says that can change, but on that basis he expects inflation to drop rapidly without specifying a time for that. he does expect a mild recession that could last around 18 months, no timing on when the that. he also warned that making macroeconomic prognostications is recipe for disaster. this is a guess, be warned. shery: everybody is listening to whatever he says. what did he say on china-u.s. tensions given that we have speaker pelosi in the region? >> again, this was a q

the rate world richest man offloads nearly $7 billion of tesla stock in case he is forced to by twitter. plus, collapsing demand. micron it's the latest chipmakers of morning the business is crumbling. francine: let's look at futures. it is all about that cpi. we are seeing a question across the cpi. the doctor futures down .2%. the focus is the treasury yield curve. there has been inversion. i know mark is all over that. tom: the 50 basis point gap between the two's and tends when it comes to that inversion. as we look ahead to that number later today, our own data suggesting that data comes in hot tub maybe the case is made for the fed to come in earlier with an unscheduled meeting and hike. expectations are currently, 55 basis points in september. the number today could append those estimates. the ftse down .2%. u.k. looking at possible shutdowns in the winter. spanish ibex down by 12 basis points in the first few seconds. like look to them, three straight days of losses across the s&p stateside. it was the semi conductors and the story around micron, and nvidia and imb and intel in

the move by elon musk and what it means for tesla. >>> nice cashout for tesla ceo elon musk. sold about $7 billion of tesla stock according to an s.e.c. filing published last knight. the sell-off comes as musk is in the middle of that legal battle with twitter. he agreed to buy twitter back in april and sold a block of tesla shares at this point as well. following yesterday's filing, musk said he would buy some of his tesla shares back if he doesn't purchase twitter. >>> ford has struck a major deal with a green energy company. ford will purchase 650 megawatts of solar power through dte energy. the companies say it's the largest renewable energy purchase through a utility in u.s. history. ford says by 2025, just a couple of years from now, all its vehicles assembled in michigan will use carbon-free electricity. . >> we feel like this moment is a way to refound the company, because we feel like there is so much upside today that we haven't really had since we scaled the model t. >> the automaker says this purchase will also boost the state's total solar supply by 70%. >>> a tr

i can't give hem ideim ideas i love tesla we' been investing in tesla, made about $600 billion or $700. i am so excited. next ten year, i think that tesla is going to be the largest company in the world and in the ten years after that, i think it will be challenged by spacex, which could become a large company. i was telling you -- >> obviously another elon musk company, spacex. >> spacex, yes so we own about 1% of spacex we've got $1.2 billion invested. we've been investing three, four, five years i think we're going to make eight times the next ten year, eight or ten times and i think that the following ten years this can be a monster company. this is the internet for the entire world you saw what happened in ukraine, where zelenskyy called up elon musk and said hey, elon, i don't know what he calls him, elon or mr. musk we can't communicate with our troops can you help us. and in 48 hours, they have these satellites going around the earth right now, 4,000 there will be 4,000 this year. on the way to 40,000 or 35,000 within ten years and this is the internet for the world. and that i

of the automobiles as well, or should i say the makers of them are up, lucid, rivian, ford, gm and tesla all nicely higher with a market that has the s&p 500 up about .25%. that's going to do it for us on squa"squawk on the street." "techcheck" starts right now. >> good wednesday morning. welcome to "techcheck. i'm deirdre bosa in san francisco with carl quintanilla and jon fortt out east today a breakdown of the consumer across the ecosystem. the top gainer on the s&p as small business demand proves stronger what peloton's new partnership with amazon means for the d to c names as names across the space get a boost. finally, is tiktok ruining the internet more on how it is changing the digital landscape? that's all later this hour. >> we'll start with a read on small business drengt. intuit shares popping on an earnings beat. strong outlook, dividend raising, you can see there, up more than 5% so far this morning. it's the top gainer in the s&p so far this is a prime example of a pandemic name where the fundamentals are continuing to work and the stock -- the stocks aren'tnecessarily the

what need is there for tesla? renee laughed. i've been for solon, let's do business. many european companies have withdrawn from russia since it launched its full scale invasion of ukraine in february. but not the german energy company didn't us idea. it's making billions and profits in cooperation with the russian state on competing gas from 1300000000 euros in the 1st half of the year. the company wants to stick to its projects, and russia by criticism is getting louder. a year ago of inches high, dia uploaded video to youtube in it, the gas production and cooperation with the russian state on company gas. one is still price and the highest tones. winters hell dia and gas from proudly announce 1st, guess for them. mega project chin developed. this came years after russia annex crimea, and as it's proxies occupied ukraine, stan bus region. but putins aggressive policies didn't stop the company from continuing to pursue its economic interests. as early as 2014, entirely in line with the german government official policy. as heist yet, it's now a matter of building bri