founder and managing partner at veritas financial group. wall street, e.t.f.'tracking big banks and seeing its worst offload since the financial crisis. really? this is bloomberg. alix: happy friday, guys. we made t investors, about 12% of the funds in e.t.f. that's most in at least a year. dave, what's the significance? dave: this is an e.t.f., the i shares use us broker dealers and security exchanges e.t.f. to be precise. ticker i.a.i. that had been taking in money this year. something on the order of $700 million. then tuesday we saw 110 million come out. that was the most to flow out in a single day since 2008 when the financial crisis was happening. the timing is interesting because it's after we saw the biggest banks and other financial companies reporting their second quarter results. and for the most part those figures weren't well received. you take a jpmorgan or banc of america or citigroup. their shares fell in response to brazil. the timing is such that it suggested that people are concerned about where things head from here. at the very least pulli

let's talk about this with greg branch of veritas financial. greg, it's impressive.that particular dip we saw on monday >> i think it is a reactionary issue. none of the concerns we attributed to the drop have abated there are two things we're worried about. the delta variant. there is domestic concern that dwindles the pool of workers which will cause inflation pressures on wages the primary concern is more global we are starting to see it manifest itself with the companies. many a company reporting guidance despite spectacular beats over a warning line or pressure they don't know how it will effect the supply chains the countries we are sourcing from are much less farther up in the vaccine curve than we are at 50%. australia and new zealand at 11%. taiwan at .50% the question becomes are the supply chains going to be impacted more acutely and for longer than we thought if that is the case, it makes having the courage to guide higher or to put up ambitious numbers. probably not prudent. >> greg, it is the time period where if you are a ceo of the company, it is expe

they said in part project veritas report mischaracterized hasbro and our values.datory training. it was an optional webinar attended by a small group of employees. there is a word i hate. as always, the views expressed by external speakers are their own and do not reflect the views of the company. translation, we invited these overpaid speakers so our enlightened diversity distracts activists from our evil binary toys. meanwhile at change.org the petition making the rounds among academics is calling for a "robust antiracism plan for the geoscientist." even rocks are racist. the petition says whereas a white geology used with a rock hammer will be seen as safe, black geologist may be seen as a threat. it's confusing to most americans who have never actually seen a rock hammer. it's like they always say, if the only tool you have is a hammer, then everything becomes a neil. which is still no reason for me to hang out at ace hardware. but it's true. i don't remember what i said but it was true. >> emily: something about -- >> greg: looking at a black geologist and as

a narrative that they come out with, and i think that's the best way forward. veritas, you all bang up today that will be back with more in our top story. hope to see you in half an hour. me the join me every thursday on the alex simon show and i'll be speaking to guess in the world, the politics, sport, business and show business. i'll see you then me imagine picking up a future textbook on the early years of the 21st century. what other chapters called gun violence school shootings, homelessness. first, it was my job and it was my name was my savings. i have nothing. i have nothing and it's not like i don't try. i look for resources, i look for jobs. i look for everything i can to make this pass and i end up doing, passing the road to the american dream, paved with dead refugees. at this very idealized image of the older america, native americans look past the deaths that happen every single day. this is a modern history of the usa, my america on our t the hi, a max kaiser that says the kaiser re port, things are happening. secular changes, big changes, historic changes, stacy and, y

decided enough was enough, and i reached out to a few journalists and they referred me to project veritas. i filled with a camera at work for about 9 months straight. and so i covered all these exceptions in bias and you know, went public with project fer task where there are so much more in the, in what i had uncovered. so i decided to write a book about it behind the mass, your facebook, and yeah that, so that's my story. i was a constant moderator content sensor, working for facebook and instagram. well the 2nd ryan, i mean, i don't know, maybe i've been gone a long time or i'm just getting too old. but i mean, i think we're all kind of brought up. the censorship is a dirty word. and, and you're telling our audience that this is something that was proactively a consciously done is to warp the public sphere in one direction. zach 1st in san francisco. yeah, well, it wasn't just google that bought this project up. machine learning fairness was a project that was developed in stanford, an academic institution, and then brought into google deliberately and then systematically released into

this time from project veritas.stle-blower from inside the toy giant hasbro is coming forward and exposing how hasbro allegedly forced employees to be subjected to bizarre training seminars including claims of babies being racist at just a few months old. we will play it. we will let you decide. >> my name is david johnson, i am a packaging engineer for hasbro. they are attempting to covertly push crt, critical race theory, through branding and messaging through their products. >> children as young as two are already using race to -- >> 2-year-old racism is just absurd. >> by three to six months babies are beginning to notice and all ready expressed preference by race. by age three, children are already starting to apply stereotypes and they also may use racist language intentionally at this age.te >> this is critical race theory in practice. they informed that the white children in particular have these particular bias against black people. >> children as young as two are already using race to reason about people's

. >> charles: want to bring in veritas financial managing partner along with kings view wealth management cio scott martin. scott, you have been cautious on this market. does this report give the fed in your mind ammo to stay the course, and if so, shouldn't that generally help stocks move higher? >> yeah, we've been careful, charles, with these valuations, especially in some of the big tech names. now, granted we own a lot of those still. we didn't sell the apples, the adobes, the microsoft, the nvidias, i wouldn't add them here. it gives the fed another 31 days to relax with the next jobs report and the other one. they probably need that leading up to the jackson hole meeting a couple months from now. to me yes the market is obviously relieved from what we saw this morning. you noted it in the intro here to the show, you have stocks rallying. you have bond yields dropping which a lot of people aren't talking about how much that has been reversed from the top that we saw just a few months ago when people were freaking out about 2%, 3% on the ten year? that's totally gone. we're heading b

project veritas got interview with hasbro, toy making company.hree-month-old babies can be racist under critical race theory. what do you say to this? >> well it is pretty ludicrous to say that 3 month old baby can be racist as an adult. we're learning that critical race theory is not being taught in schools and colleges. it is being taught from the cradle to the boardroom. it is detrimental to the long-term health of our country. the reality of the matter, critical race theory is not a fact. it is not accurate history. it is an unproven dangerous theory. elizabeth: buck sexton says it is stupid and absurd. nikki haley says imagine a five-year-old going to a kindergarten. that five-year-old knows nothing about color, then they're told about the color of their skin they could be racist or if they're brown or black they could be taught less than or treated as victims. that is what people are saying and the pushback against this. watch the hasbro engineer, contract engineer, explain what is going on at hasbro. watch this. >> originally when i saw i

eliminate tasking used to ride veritas light rail line up north first street to get to work at a san jose casino. but without that service, she says she now walks an hour in the wee hours of the morning to make it in on time because the bus doesn't run that room. this kind of an inky means for you, then pretty much yes, pretty much depended on public transportation. vytautas light red. service has been shut down since may 26th that day, sam cassidy entered the guadalupe light rail yard and killed nine co workers before taking his own life, and it's been a few weeks now where we have had employees given time off to grieve and attend funeral services. and many of those have concluded, and now it's time to work the plan to bring back light rail service, peta spokeswoman brandy children says the authority is using a five phase plan and hopes of resuming service by the end of july, the first phased finished last week had some of the 300 yard employees. return to collect personal items. phase two was identifying and repairing damage done to two buildings within the yard and hiring new empl

but the veritas phased reopening approach shows that maybe sometime in september. right? of the warriors to first round draft picks are now in our sports director mark devaney's we'll have details on both of the young men majestic mountains... scenic coastal highways... fertile farmlands... there's lots to love about california. so put off those chores and use less energy from 4 to 9 pm because that's power down time. ♪ unlock a summer of possibilities in a new chevy. expand your options... and your perspective. find your next adventure in a new chevy. enjoy the open road and make no monthly payments for the rest of the summer on select popular chevy suvs. plus, get interest free financing for 72 months when you finance with gm financial. find new roads at your local chevy dealer. bonnie is with you in the vinyl room tonight. it's not often that you knock the giants dodgers game off the lead, but not very often that your local team has two picks in the first round of the nba draft. here's number seven the golden state warriors select. with the seventh pick in the 2021 nba

service has been suspended now, almost two months since the mass shooting there killed nine men at the veritassan jose. well a twist in the mollie tibbetts murder case. she is the former bay area woman who was killed in iowa back in 2018. now her convicted killer was scheduled to be sentenced this week, but his fox news matt finn, shows us instead, a judge heard new evidence from the man's lawyers that they say reveals the real killer. christian behavior. rivera the man found guilty in the killing of the university of iowa student mollie tibbetts, was back in court thursday. a judge now considering possible new evidence. in the case. this comes a day after rivera sentencing was put on hold in light of exculpatory evidence. rivera's defense is trying to get a new trial and compel prosecutors to turn over evidence, including two witnesses, who say a man named gavin jones is tibbets actual killer allegedly confessing to his ex girlfriend and an. other inmate while he was behind bars. gavin jones admitted to arnie mackey that he and another gentleman were the killers of mollie tibbetts. rivera's a

in responds sponge hasbro claims the training was mischaracterized by project veritas.health crisis. that is yours, ash. ashley: wouldn't guess where, salt lake city, utah, democrat mayor eric mendenhall and the city council signed a resolution created to policies and ordinances that are anti-racist. it cites numerous statistics from the utah public health, odds of coronavirus infection were three times more likely in salt lake city's latino neighborhoods. by the way latinos account for 14% of utah's population but they have contracted 40% of the state's cases. the city says it is working to address what it calls systemic barriers to health care including racism. to your point, stu, a word bandied about like confetti. everything is racist. stuart: lost its force. lost its power. ashley: yes. stuart: it is used so much, too often. ashley, a fine piece of reporting on both subjects. well-done, young man. look at this. plenty of green on your screen. the markets all bouncing very nicely, i said this before, and i will say it again, the dow is up 22points. that means it has

i'm depending on the liberal all time because i had to go to work, eliminate tasking used to ride veritaso work at a san jose casino, but without that service, she says she now walks in. our in the wee hours of the morning to make it in on time because the bus doesn't run that early. this kind of an income means for you, then pretty much. yes pretty much depended on public transportation vytas light rail service has been shut down since may 26th that day, sam cassidy entered the guadalupe light rail yard and killed nine co workers before taking his own life. it's been a few weeks now where we have had, um employees given time off to grieve and attend funeral services, and many of those have concluded, and now it's time. to work. the plan to bring back light rail service beat a spokeswoman brandy children says the authority is using a five phase plan in hopes of resuming service by the end of july, the first phased finished last week had some of the 300 yard employees returned to collect personal items. phase two is identifying and repairing damage done to two buildings within the yard and

and the trades there, stephanie link, chief investment strategist at hightower and greg branch at veritaset reports from three of the five largest megacap tech names, your take aways perhaps not surprising to see huge earnings beats and strong revenue growth. what does the future hold? how is that affecting the stocks right now? >> yeah, it was not surprising we expected to see strong second quarters in fact, i expect to see strong third quarters what it does -- what it's collectively done, i think, is put to rest the narrative that what we saw last year and the last couple of quarters was covid bump or covid pull through. in fact, when you take them together we see that we are in a very strong it spending cycle. we see we are in a strong transition to cloud sick cycle we are in a strong digital cycle. even where i was looking for something to quibble with on margins where i thought they might be reinvesting in head count, they surprise on the up side even there with some pushing out like google who said the margins would come in. microsoft surprisingly saying there's even more leverage s

. >> greg branch from veritas, thank you. >> bye.. >>> a panel of experts nasa administrator bill nelson, franklin institutes chief astronomer derek pitts and former astronaut mike massimino. >>> apple is looking to release real estate to film movies keeping your oyster business growing has you swamped. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. >>> futures higher this morning. we'll get you ready for the trading day ahead. >>> new jersey governor phil murphy will talk to us about possible new protocols and issues. >>> plus blue origin's historic launch amazon founder jeff bezos is headed to space. a live report from the launch pad as the second hour of "squawk" continues right now >> good morning and welcome back to "squawk box" here on cnbc i'm andrew ross sorkin along with becky quick and joe concernin. >> take a look at futures after what was a pretty

project veritas james o'keefe released calls that happened what you said is effect forgively cnn. and then this journalist there sit around and pretend like just the facts and apple is an apple. it's the cloaking of objectivity that people hate the most. not the fact -- if you are biased you are biased. that's fine. will: you have opinions. rachel: of course. rachel: michael avenatti in jail two and a half years and not just high profile people stormy daniels regular clients who he would embezzling from millions of dollars to pay for private jets. meanwhile, he is being told by the media you might run for president. rachel: he was loving it, wasn't he? pete: and he was loving it. rachel: anna navarro actually said you are like the holy spirit. what a crazy thing to say. pete: the holy spirit was very offended by that. rachel: i'm sure he was. all right. well, we are going to turn now to some of our head lines. 79 people are now confirmed dead in the -- on the florida condo collapse after crews pulled 5 more victims from the rubble. 61 people are still missing. a grand jury is set