that used to be a spot reserved for longtime marquee investors like warren buffett.are hearing that in sun valley the traffic is a little more than usual. into saturday, longer than usual for this event because people are so excited to hear from him on saturday. jon: when you are doing a keynote at sun valley it's a unique audience. you might get a question from come up in this case, a warren buffett or a jeff bezos. sonali: it's fascinating because the other folks in the office are certainly the likes of jeff bezos, bill gates has been seeing here today. one interesting person here that has been benefiting from elon musk. the about tesla a lot. also, spacex. dan sondheim says a lot of his private investments are down. people are really worried about deploying capital when parts of their portfolio are bleeding. but he's gaining from spacex. so, how would you people are looking to warren buffett form -- for soaring valuations even in a tough time. kriti: the stock market is green on the screen. you are seeing that amid a low-volume environment. how much of this is sus

warren buffett only beat it by 2.5%. so either u.s.good feel for trading stocks, or they are using insider information. that was over 20 years ago. this has been going on for decades. at some point we have to get serious about this, which we either do 1 of 2 things. they have to file the sec form to show all of the trades they may -- this includes staffers, jesse, this is not just members of congress, this is staffers, as well, who abuse the stock act of 2012. that is one approach. or the minute you enter public office, the member and family members have to put all of their stocks into a blind trust, but a further stipulation being no one associated with a member can actually have communication to actually direct the trustees until they leave office. i mean come at some point we got to get -- >> jesse: i think those are great -- >> going on for decades appeared >> jesse: recommendations. but it will never happen. because you need congress to pass those measures and congress will never kill the golden goose. ned, thank you so much, as a

was it warren buffett or anthony fauci? you are going with warren buffett. dr. fauci. this is a big one that see it. >> i don't know where the word retirement came in. i may step down from my position. >> jesse: jessica did not get the anthony fauci question that's gonna hurt. you should know everything about the good doctor. all right stop lording it over her this is still a game here for the next category and flagrant foul. what nba star with a history of questionable comments had some choice words the people of boston. describing the city's fans as racist as f with a lebron james or was it sir charles barkley? both going with lebron james. is it a trick question? >> jesse: do you agree with that change? >> that's illegal but i'm still gonna go with it. all right he's going with chuck what is the answer? >> why do you hate boston? >> they racist as a [bleep]. >> jesse: you never let someone touch a paddle. >> he wanted that to happen first of all. >> that's what she said. speak for now it's tied we were really close game and a category whose courtroom cult

occidental petroleum, a warren buffett favorite, under pressure to the tune of 3%. lot of corporate stories in a market to your point where people are trying to gauge where we go from here. american airlines surging 10% today based on a relatively encouraging revenue outlook despite some travel headaches. delivery news from boeing inspiring investors. on the other side of the fence at technology name like service now on some general macro concerns being raised i the ceo -- by the ceo reminding us this is a sensitive time for technology stocks. kriti: perhaps mirrored or forecasting earnings season. peter oppenheimer at goldman sachs. we talked about earnings season as markets adjust for a potential economic downturn. peter: i think earnings will come down quite a bit. whether we end up with the recession or not, there's a good chance markets will price that probability as being higher than they have done as yet. jon: for more on a potentially volatile earnings season let's bring in mandy xu. in terms of us having to assess where we are going through the lens of earn

the game was what is warren buffett going to buy?t know, the fourth time over the last several months the oracle of omaha continues to beef up his bet on occidental petroleum. an sec filing posted last night reveals buffett's berkshire hathaway has bought another 1.94 million shares of the energy company that's latest purchase gives buffett's conglomerate a 19.4% stake in the energy company. now if it reaches 20% ownership, berkshire could then record some of profits as part of its own earnings. right now, both stocks are pretty pretty heated up here, ox xy up 3.7% berkshire up by 2.5% to $424,000, there you go. cinemarc shares putting in an oscar-worthy performance this hour after morgan stanley upgraded the movie theatre chain to over overweight popping 12.75 % because the theatre chain is insulated from a slowing economy as consumers become more comfortable returning to theaters, following the covid lockdowns. we all ran to maverick didn't we i went twice. am i the only loser who went twice? sorry. imax catching a bid of 5.8%, amc

chinese byt backed by warren buffett beat out tesla in global sales in the first half of this year. tesla was hit this spring by covid lockdowns and travel restrictions in china. many of byd's models are plug- in hybrids which are counted as zero emission under china's sales rules. the company and battery maker are preparing for a push into foreign markets including here in the u.s. >>> amazon is celebrating its 28th birthday today marking one year since jeff bezos stepped down at ceo. on this day in 1994, bezos incorporated the company after launching it in his bellevue, washington, garage. andy jackie took over as the head of the company. stocks hit a record high, but since then it's down more than 40%. fallout from the covid pandemic, record inflation, supply chain constraints and labor challenges have all plagued the company. amazon is still worth more than $1 trillion. >>> up next, you may know her as dance cam mom. now the warriors fan favorite is going national taking her moves to a new tv show and you can find out where to watch it coming up. - [announcer] the more we learn

backed by warren buffett beat out tesla in the global sales. tesla hit the spring as tesla was hit this spring by covid lockdowns and travis restrictions in china. many of byd's models are plug-in hybrid, which is counted as zero emission under china's sales rules. not exactly fully electric here. the company and battery makers are preparing for a push into foreign markets including here in the united states. >>> okay up next what happened to the gias tonight antnd >>> okay, mark it down on july 5. this might be the night when the giants push the panic button, losing six straight games and 12 of their last 15. things look great for about seven innings and then the wheels fall off. the bottom of the 8th inning a 2-1 lead. but they explode for five runs. giving up the three run homer. that goes into the pool. what a gut punch as they lose tonight 6-2. >>> at the coliseum tonight last place, but you know what they still keep fighting. the a's and this? this is supersonic wifi from xfinity. it's fast. like, ready-for- major-gig-speeds fast. like ri

. >> it's byd backed by warren buffett. that's the name of the company.t beat out tesla in global sales in the first half of this year. many of their models are plug- in hybrids which are counted as zero hybrid. >>> tonight at 7:00, could it be president gavin newsom. the new poll shows how he would run and fair against former president trump if they both run in 2024. that story and more coming up on our 7:00 newscast. >>> up next on nbc nightly news, lester holt reports from highland park, illinois. new details just released about the suspect. toll and the charges announced in a fourth of july parade shooting a seventh person died after police say a gunman randomly fired more than 7 rounds with high-powered rifle from a rooftop onto a crowd below in highland park. the new image investigators say the shooter disguised himself as a woman to blend in and make his escape he preplanned the rampage for weeks. new details how police found the car he was driving. >>> among the victim, the 78-year-old grandfather and a former preschoolteacher and my conversation

buying the oil at a dip and selling it back to the public, warren buffett is doing it but he's not selling it back, he's just making a lot of money. the government could buy it back and sell at lower prices. i'm pushing an agenda that's going to help lower-cost people. lily: fantastic. talk about the internet bill of rights and how you formulate a that when speaker pelosi asked you. rep. khanna: people say why should i care about tech stuff? it's not about that. fundamental rights for citizens. people should have inalienable rights to their data. when i walk into this bookstore, you don't get all of my information. you don't our thing about me. when you go online to these companies, you're giving them all of your information. nobody would say tell me all of your likes, preferences, everything about your family, every place you visited. you would run away. so why should we have all of that stripped from us will be go online? the companies take the data and they target people. this is how qanon has grown, how hate groups have grown. they use this to profile people and build extremist groups

warren buffett, did you hear this?ug-ins and hybrids where tesla has a pure electric play. of the one why is warren buffett pulling out? susan: you see a peak in the company itself. blue and taking his money and running. susan: people are trying to figure out where they are coming from. stuart: see you again soon. i have a headline for you worth reading, what critical race theory has rot in la schools. deroy murdoch, give me a report on the effects of crt in los angeles schools, holding black kids back, is that the story? >> that is the story. i grew up in los angeles, la city schools through 12th grade. i was told do your homework, perform in class, study, focus and you could succeed. that's a different story. training for teachers on -- teachers and staff coming in and being instructed to tell students things like hard work and focus on success and individualism are aspects of whiteness, white supremacy, what this says is you are not going to make it, prepare yourself, you will be held down by the man essentially and

warren buffett buying those shares when it drops below $50. he is hopping into that market.looks like he has hopped into that. that is pushing the stock up. we have some specific news with the fundamentals. gamestop, you've had a complete turnaround in the story. gamestop was higher by a lot because of a stock split in the last 24 hours. they fired the cfo. they announced widespread layoffs. shares are down 5.5%. levi strauss, denham never goes out of style. kailey: skinny jeans do. >> i wonder if tom has those 70's bellbottoms. jonathan: you can stay for a while if you want. >> levi strauss is up 4%. levi's is coming out on top. tom: i will have to take a road trip to brooklyn and unloaded 501(c). -- 501's. thank you for reminding me of retail travails. matthew joins us, he's been brilliant at deutsche banc, way out in front of the beijing recesses. at 830 1 a.m., will i know if the american labor economy is finally broken in a different direction? matthew: thanks so much for having me. we are expecting 225,000 jobs. we expect the rate to fall to 3.5%. the market is focused

to charity in 2010 with warren buffett.arted a project called the oath gifts and each promised to give to charity more than 90% of his fortune. and now gates has confirmed that almost all of his money. he will give to a charitable foundation, which he and his ex-wife, milendari. created in 2000. the fund is engaged in the fight against malaria, hiv, polio, first of all in africa, invests in children's education in providing food, agricultural research forms, estimates gates' fortune at $ 122 billion, the businessman says over the past few years, events have occurred in the world that plunged people into despondency and made them think about where this world is slipping. as an example , he cited the coronavirus pandemic and what is happening in ukraine, well, he says that he believes that it is possible to return the world to progress. according to him, their fund, smelinda 20 years ago, spent one billion dollars a year now 6 billion, but he sets a goal in the twenty-sixth year. the fund will increase spending by 50% to $ 9

we have warren buffett, bill gates.acid ending investors plus a lot of newer companies coming off the pipeline. startups on saturday are expected to speak to high net worth individuals. a lot of venture investors very worried about recession. also really excited about the opportunity that volatility has come down just a bit and prices have come down so much. looking to the future, they are excited about clean energy deals, biotechnology deals, and the future of technology as defined by elon musk. >> coming up, we will look at the fallout of britain's political turmoil with a former senior policy advisor to the u.k. government. this is bloomberg. ♪ millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g incl

. >>> thank you, dom warren buffett buying up for occidental stock he is paying $250 million over the past three days. latest purchase is bringing the total investment to 179 million shares or 19% stake in the company. >>> panasonic is selecting texas for the multibillion dollar mega factory. when it is complete, the plant would produce electric vehicle batteries. the choice to build is coming five months after state lawmakers rushed to approve a tax package of $1 billion to attract the company and promise of thousands of jobs that come with it. >>> united airlines and pilots head back to the negotiations table for a new round of talks the airline pilots association said yesterday the agreement they made a deal to fell short of some pilots expectations. tentative agreement included a 14% pay raise within 18 months was revealed june 24th voting by rank and file pilots was set to close friday. the real question here, dom, and you see united airlines down 1% in extended trading. what does this do for other airlines to set the standard for their negotiations >> you see it is not having a

kriti: more questions than answers but i'm curious about the audience, you have the likes of warren buffettbob iger, is there perhaps any chance the iciness around the details are actually broken given the audience he's speaking to? ed: yeah, but you have to remember the conference is completely behind closed doors, right? that these are the unwritten rules that attendees do not discuss what is discussed inside the room. i think what's interesting is that folks here have a lot of opinions what's going on. "the washington post" cited anonymous sources that said musk's team just don't believe twitter's data or the evidence twitter is giving is verifiable on the level of the platform and earlier you had twitter executives give a briefing that said yes, the number of bots on the platform is less than 5% and we don't believe twitter or a third party outsider can verify it because we use a mix of public and private data and the timing was suspect. the discussion i'm having around here is we are moving towards perhaps a lower price point, musk coming back in. because walking away seems very compli

the ceo of one medical will remain ceo remember when warren buffett and amazon got together and they were going to reinvent health care and gave up health care is something that's outrageously wrong in this country, we all know i hope amazon gives this a real shot there are many competitors of teladoc. that was a big cathie wood name. she's been terrible. >> okay. >> now, cvs is down a lot op walgreens has not made its move yet. one of the hidden things that people don't know is pilferage >> shrinkage that's why everything is under lock and key at cvs. >> it's easier to order from amazon and have it come to your house than it is to get someone at one of these drugstores to open -- you ever try to buy a razor blade? >> i can't buy ice cream behind lock and key. >> here's the strategy they let you steal one thing, but if you steal more than one thing they nail you. the fact that this is actually true is shocking you can steal one item you know what margins at these places are, how thin they are? >> i know. look at that >> there was a diversion in front of me at target where a guy was d

the likes of warren buffett, fidelity.is one of those groups that seen markdowns in their private portfolio. dan broke that his -- was dragged down further by private investments. when you're looking at the companies that are here. and then even more broadly now, these are businesses in a high-growth environment have such potential were able to strike left and right and now their questions about how they make it through this next cycle. what kind of businesses will matter and what types of partnerships and investors need to make that happen. guy: great reporting on figuring out. is it saturday that they'll be seeking -- speaking? what are they expecting? sonali: something remarkable about what we know elon musk is doing, saturday the final day a traction for many of the people here. certainly the younger investors looking for a way to get through the pain we see in the macroenvironment over the next couple of months. when you look elon musk here. it's not just growth and innovation and where to place your bets in terms of

that will be higher a few years from now you don't need to be warren buffett to know that bad, ugly andd alike the key he iis finding the goods in the rubble. rbc made eight changes to the 2022 best ideas. four names in and four others getting the hook these stocks they call high conviction long-term ideas first, the names off the list. amazon out twilio is out. here is what is being added to rbc's best ideas utility company aes. american tower rbc thinks will get a boost from 5g tower construction. third stock? lonza group. switzerland life sciences company. the ticker is lazgr. and then veeva systems they like software sold to the life sciences industry which is more safe and defensive in nature four names for you at rbc adding to the best ideas list it doesn't mean they guaranteed to be winners. nothing is if you are looking for some new ideas, there you go. random and hopefully profitable. >>> okay let's bring in our next guest which is degas wright. founder and ceo. in the commercial break, degas, i asked jason, did degas pick veeva systems because of the rbi? he said no it was coi

china backed by warren buffett talk topped tesla in global sales in the first half of this year. was hit by covered lockdowns and travel restrictions in china. many models are plugged in hybrids which are counted as zero mission under the china sales rules. the company and the battery maker are preparing for a push into foreign markets including the u.s. >>> tick-tock abandoning plans to expand live shopping. the financial times reports that the social media platform is hit by internal problems and is struggling to gain traction. tiktok was launched in the uk last year with plans branded influencer selling the product live on the app. tiktok aimed to expand to germany, france, italy, and spain earlier this year before launching in the u.s. >>> amazon start a new chapter as it is celebrating its 28th anniversary of its launch. it was on this date in 1994 jeff pesos incorporated, the company after launching it in his garage. isn't that like apple? in the garage? >> and google, i think. >> i am glad that i have a garage now. >> you do as of today. >> the second largest company on ea

. >>> warren buffett's biggest stock pick >>> if you missed it, follow us on the "worldwide exchange" platforms. we'll be right back. (vo) is three hundred and ninety-one thousand four hundred and thirty-four square feet... enough space for your ambition? loopnet. the most popular place to find a space. only at vanguard you're more than just an investor you're an owner. that means that your priorities are ours too. our interactive tools and advice can help you build a future for the ones you love. that's the value of ownership. >>> major averages looking to keep the win streak going. futures pointing to a lower open can the markets turn around to make it five in a row? the most important story europe's growing energy crisis prices spiking with countries racing to stock up fuel ahead of winter. >>> and always opportunity friday here on "wex" with the biggest buys by company ins insiders including one high profile investors making a big-time buy. >>> it is friday, july 8th this is "worldwide exchange. >>> welcome or welcome back. good friday morning. not quite 5:30 on the east coast. le

be warren buffett, dude.make your money in your 60s. who cares?at happensafter that? - mmm. this might soundreally, really crazy, but what i've donewith my portfolio in crypto these past fivemonths, i know i'm set for life.i just have to hold. dead ass. sir jackalot:who says a stock price has to be calculatedbased off cash flow? i mean, it's just what peopleare willing to pay for it. and again, what's morallyor ethically wrong with that? that's just the game. [music playing] (singing) there once was a stockthat put to sea. the name of the stock was gme. the price blew up and theshorts dipped down. hold my bully boys, hold. [grunts] soon may the tendieman come to send a rocketinto the sun. one day whenthe trading is done, we'll take ourgains and go. she had not beentwo weeks from shore when ryan cohenjoined the board. the captain called "allhands" and swore he'd takehis shares and hold. [grunts] soon may the tendieman come to send a rocketinto the sun. one day whenthe trading is done, we'll take ourgains and go. before the newshad hit the market, w

stock up next, warren buffett. his latest after the break. rie.novation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. ♪ ♪ how's he still playin'? aspercreme arthritis. full prescription-strength. reduces inflammation. don't touch my piano. kick pain in the aspercreme. hybrid work is here. it's there. it's everywhere. but for someone to be able to work from here, there has to be someone here making sure everything is safe. secure. consistent. so log in from here. or here. assured that someone is here ready to fix anything. anytime. anywhere. even here. that's because nobody... and i mean nobody... makes hybrid work, work better. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it

. >> warren buffett buying more shares of oxy despite that they doubled.op on disappointing outlook. tough guidance there jenny, thank you the sector coming off the worst first half ever. how many times can i say that this show? what should you expect from semis. the committee will bngri their take and maybe some of their stocks next. wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq >>> welcome back most of the market semiconductor stocks have been walloped. smh etf, down from a high. down today as micron spooks the market concerned about future demand. pete, you own micron shares. the ceo's comments were not optimistic last night. >> the forecast is what everybody was focused on, brian. that was not positive either there's a lot of issues going on i can tell you this as well. they are attacking in the semiconductor world

. >> you know our country is fond of swashbuckling businessmen warren buffett even lives in his own houseose others who have the money and foresight to go where no man is gone before. robert wolf who knows he's business people personally, former ceo chairman of ubs robert will see what happens thank you. >> yes thank you, anita. three of america's gun control debate rages on experts are scrambling to try to understand a disturbing trend. why do mass shooters seem to be getting younger and deadlier? analysis from former vp on a ted williams coming up next. she quickly created official say russian the red actual building second largest city. that. unreported guild. meanwhile the iranian government and the region said russian forces are managing to raise true hell there. relentless strikes in the eastern industrial heartland lucas thomason live with the latest from there. russian forces control over 20% of this country despite repelling russian attack coming from inside its own territory and the largest city of kharkiv. there being fired from russia are off-limits to ukrainian missiles that

. >>> a mortgage company owned by the billionaire warren buffett is committed against potential black latino homebuyers for years. that's according to the justice department large redlining settlement. now, trident mortgage company must satisfy $20 million for loans in minority communities. the doj reports this is the second largest redlining settlement in u.s. history. redlining refers to the practice of deliberately avoiding loans to minority communities. the incidents cited were in pennsylvania, new jersey, and delaware. according to the doj, loan officers would often sent emails with racial slurs. they also called some nonwhite humidities .eed to higher loan offices. as part of settlement, trident must pay a $4 million civil fine. the company also agreed to hire loan officers in the affected neighborhoods but since trident stopped making loans two years ago, it will contract with another company to provide the $20 million in subsidies. the company reports its strongly disagrees with the findings in this settlement. >>> for the first time since went public 10 years ago, facebook, w

i would become best friends with warren buffett. >> i would say give it to me in five dollar bills. >s. >> i would get the lump sum too. >>> we have a lot going on in weather. we have the fog protecting us from the smoke. and it does. the factor it plays when it comes to the smoke come if you look at this camera, is it helps the smoke stay high above gliding over the fog protecting us from those particles coming down and impacting us at the surface. it will be something we are looking out for. satellite radar showing us this moisture that pushed overnight. this is what we were looking for. pushing to the north and we do see some scattered showers. there is some wet pavement but we are watching for lightning strikes and that will be the biggest concern. you guys know we are really dry out there so any form of lightning could easily start a fire. overnight we saw that move-in but like will happen by 1:30. notice the rain chances move out and we keep the fog on the coastline and look at the sierra. the sierra is looking for a chance of an isolated thunderstorm through the afternoon. if y

. >> well, you're in good company at least warren buffett and charlie munger agree with you.the banks because recession fears and falling bond yields are a double whammy for bank stocks today leslie picker joins us we've got the yield curve about to invert again. not good for banks. >> that's right, sara. so recession fears have really been the bulk of the concern surrounding banks for much of the year, probably dating back to when russia first invaded ukraine. but they have had this force of rising yields, and that's true because banks do become more profitable by charging more deposit than they pay out to depo depositors now that yields are sliding as well creating a double whammy for banks, that's creating some pressure on the sector, although it's bounced back a little bit with the broader market, well off their lows of the session. there were also a few price cuts, price target cuts on friday before the holiday weekend. investors may be doing some repositioning ahead of bank earnings, which believe it or not kick off next week. >> leslie, thank you charlie, we're going t

tesla's loss appears to be warren buffett's gain.cents. tesla disappointing analysts delivering fewer cars than expected in the second quarter, tesla had to temporarily shut down operations at its largest factory in shanghai because of covid-19 lockdowns. they have also been delays in opening its new factories in texas and germany. at the same time, sales have tripled at b y d. that's the company based in china that warren buffett is invested in via his berkshire hathaway. now, despite that, when the opening bell ring this morning shares in b y d and tesla dropped, as did the broader market. the next couple of weeks are going to be very busy, we could get more disappointing reports coming in a second quarter earnings reports come in, and we're really going to get a sense of the economy based on the corporate earnings and how those companies see the quarter. and the rest of the year as we take a live look at the numbers, the dow jones has come back. it was down about 700 points still down the 580 points. almost 2. the s and p 500 also

warren buffett announcing that berkshire hath beltway has bought another 12 million shares of occidentalff pet's company an 18% stake -- buffett. they have more than doubled this year as a result are of buffett's steady purchases of the company little by little to a massive, pretty big stake of 19% as well as rising oil prices that really took off following russia's invasion of ukraine. >>> well, president joe biden ie minister shinzo abe after he was asaws mated. president biden stopped by the japanese embassy on his way to cia headquarters to pay respects and to commemorate agency's 75th anniversary. with that, we go to edward lawrence at the white house with more on the president's visit the to the cia. what are they doing? >> the president's gone in. we can't show you live because you can't broadcast a signal out of the cia building, but he's highlighting the 75 years of service that the cia has done. now, while at the cia the president will meet with agents who have worked on ukraine and have been thrust into the limelight because of the russian invasion in ukraine. now, the agency,

is having to do debt reduction but it's done quite well it's got the berkshire backing and the warren buffettroval and that makes people feel good about investing. i am a buyer i don't think the energy rally is done. i think it needed to take a breather i think some of the demand destruction, unless we hit $150 a barrel is less of a concern. >> you're still more worried about the upside than the down side let's leave it there then. pivot to the renewable space where the solar and alternative names are getting hit from a few key issues it's not like they're benefitting from this rotation out of the traditional fossil fuel plays pippa, why are they lagging? >> they are higher today amid this broad strength that we're seeing across the market longer term many of the names are still sharply lower. supported policies have failed to pass and higher rates make future profits less attractive one group to watch is the residential home installers that sun run sunnova up today but in the red for the year and they don't manufacture equipment and have higher margins than large-scale projects with utility

i realize warren buffett is out there buying more occidental, but i think that oil prices spiked based on what happened with russia situation. you see them coming down and so i think that i wouldn't be -- i think if you are moving more towards health care, media, defensive names, defensive consumer names, i think that you'd be better off than chasing high prices because that will all fluctuate. >> all right michael, good to have you. thanks for your time >>> don't miss tonight's cnbc special, taking stock, the state of the market. it is at 6:00. we'll run through key corners of the market and economy >>> coming up, senator manchin steps in again, delivering another blow to president biden's "build back better" agenda what are the sticking points, what does it mean for the midterms >>> plus oil prices are front and center for the president's trip to saudi arabia can he persuade the saudis to ramp up production and what is the fallout if he can't? >>> and as we go to break, let's get a quick check on the markets. dow up 581 small cap russells are the strongest performer. ten year yield,

1.9%, even though ford says demand is strong despite high prices and rates, and look at this , warren buffettshire hathaway continues to build its stake in occidental petroleum now controlling 17.4% of the oil company shares but there is no buffett bounce for occidental today, stocks down 3.2% and sec filing on friday revealed buffet t conglomerate owns 163.4 million shares making it by far the largest shareholder. berkshire hathaway stake is about 60% larger than that of vanguard, the next largest shareholder and now you know. omaha obviously sees value in the oil patch but americans are more concerned with how much they are paying at the gas pump, gasbuddy patrick dehaan is here to tell us if these high prices, 4.80 nationwide are they here to stay? i hope not. let's check the markets the dow is down just 160 but the s&p had just turned positive, it's completely flat, hugging the breakeven line right now, this can go either way the nasdaq firmly in the green it's up 1.5% or 165 positive points, "clayman countdown" coming right back. i grew up an athlete, i rode horses... i really do take ca

special dividend versus special dividend and oxy, we talk about warren buffett and his dividend in thepany. >> sorry, steph. this is such an interesting conversation to have, i think, jim. you're in a bunch of these names, too kinder and transocean, exxonmobil so, steph points out, yes, but these stocks are considerably off their 52-week highs. they're up so much year-to-date, but many of them are considerably off their 52-week high like, it raises the issue. should i be selling, taking some profits, or buying more, taking advantage of the fact that they're down, thinking that the environment is still going to be good >> and you know, just last week, i initiated a position in exxonmobil, so my actions speak for me to give you the fundamentals behind it, i just can't conceive of a scenario in which supply and demand come into plans i just can't conceive of it. if somebody wants to educate me on that, that's fine i'm not in the hyperactive camp of, we're going to $200 a barrel on oil, but you certainly see what natural gas is doing here and abroad, mainly abroad. it's because there's a s

. >>> a mortgage company owned by warren buffett discriminated against potential black and latino homebuyersrs. that is according to the justice department. now, trident mortgage company must set aside $20 million for loans and minority communities. the doj reports this is the second large redlining settlement. redlining refers to the practice of deliberately avoiding loans and minority communities. according to the doj, loan officers would often send emails with racial slurs. they also called some nonwhite communities . trident must pay a $4 million civil fine. the company also agreed to higher loan offices. it will contract with another company to provide the $20 million in subsidies. the company reports its strongly disagrees with the findings in this settlement. >>> for the first time since it went public 10 years ago, facebook, which is now called meta, reports a quarterly drop in revenue. it comes after a tough few months for the company. it announced earlier this year that it lost users for the very first time. meta shares down nearly 50%, so far, this year. analysts say the company i

paid over $19 million for a private lunch in new york city with up to seven guests and investor warren buffetti can guess what buffett's first investment tip will be [ light laughter ] i guess i'm the only one that can guess. [ laughter ] not one of you has the same guess as me? [ laughter ] he's got - [ laughter ] i mean, it's just, like, jarring to go "o" for the room [ laughter ] he's going to come in and he's going to be like, "$19 million is too much to pay for lunch." [ laughter ] [ laughter ] [ applause ] ah-ah-ha the toy company nerf recently unveiled its first-ever mascot, which is a character named murph. though it's hard to imagine that children will have the energy to play with nerf products since they will never sleep again. [ laughter ] and finally, as you all know, juneteenth was yesterday and here to help us celebrate is one of our writers, jeff wright. [ applause ] >> happy juneteenth, everybody >> seth: oh, jeff, i thought you were going to be here in person. >> sorry i couldn't be there in person, seth but i will tell you all some fun facts and things you can also do to cele

that is where the whole bill gates and warren buffett ponzi scheme some day we may know speaking forelf. ka katie, thank you good to you have on. >> of course >> melissa -- >> it's my honor. >> five days this week five days. >> today or monday thankfully >> it is monday. 14 years, counselor. surrounded by people less than human. >> we need to go to break. >>> coming up, berkshire hathaway adding to the energy holdings >>> let's take a look at energy prices brent down to $112.15. stay tuned you are watching "squawk box" on cnbc >>> welcome back time for today's executive edge du jour. middle east franchisee made a deal with pizza hut. they operate pizza hut elsewhere in the region and franchises for kfc and hardees. >>> and the contract manufacturer citing strong sales by foxconn rising consumer sales have raised concerns of sentiment remember what micron told us slowdown of smart phones and servers? >> yeah. broadband. all of those things would happen forever. people are leaving their house occasionally >> doing other things besides being on the internet and trading and watching yout

warren buffett has been buying up shares of occidental petroleum. >> yes that's right so that's thumbsett although carl icahn has sold out of occidental so which billionaire has it right? berkshire is doubling down up ping their stake in occidental so they bought almost close to $10 million more shares so they have a stake worth 17.5% but it makes sense with oil prices it crossed 111 last night, exxon says that -- stuart: way down this morning. >> but again that's growth concerns i think global growth concerns. so we have exxon-mobile also saying that because of the higher oil & gas prices, they are going to be $18 billion , $18 billion in three months in the second quarter. stuart: profit. >> i believe so. stuart: 18 billion. >> i'll double check that but i think it's revenue to be honest, but still 18 billion in revenue in three months is pretty outstanding for an old industry, right? something we thought was in past stuart: it's only a matter of time before the oil company haters, come after them and say you're making far too much money >> it's so complex so pump oil now but we're l

>> the warren buffett of crypto, right?ah. >> he's also proven to be in a strategic position for himself and ftx, also proving to be in a critical position. there are reporters, of course, who are well positioned to be able to bail out companies and prop up the industry, as it were here, but, you know, he's been one of the most vocal about it, and it's based in reality he is one of the most well positioned. >> john, i wonder how you think about his influence relatively to the potential influence of legacy financials, you know, reports that goldman had looks at celsius assets. what are the odds of hearing about a deal from legacy finance, say, by the end of the jeer >> i think the odds are increased dramatically if they wanted to see that over the last two, three years, this is their best chance to do it. >> so i think the. >> that's something to wack in the back six months. john, jill, good to see you both thanks so much >>> we're going to stick with crypto the miners rode the bull market to the top, now facing a number of

warren buffett's berkshire hathaway adds mob -- more to its stake in the company. >>> and of course thegainst the dollar sliding to a 20-year low, inching closer, guys, parity, 1 to 1, euro to dollar we've seen it before in the beginning of the life of the euro the problem today? recession concerns in europe, even worse than recession concerns in the u.s. it's just looking increasingly like the ecb cannot hike rates nearly as much as the federal reserve. with a puny 25 basis points. the fed has already gone 150 basis points clearly the money is coming out of europe and into the u.s. dollar, but of course, guys, you want a weaker currency, right? it helps with exports. you don't want a sharply sliding 20-year low currency, because you get all sorts of concerns about the euro has been a failed experiment >> it's survived the european dead crisis. christine lagarde is in there as president of the ecb, she's a massive proponent of a stronger euro and europe, i mean the cohesion of the economic bloc. so they're going to lay out how they're going to deal with some of the fragmentation, where

warren buffett isn't selling. they buy back an enormous amount of stock every year. company has moved out the upgrade cycle. it is no longer as hit driven as it used to be. i say that has merit with a lot of investors, but is it reflected in the valuation? it still hold the premium relative to where it has traded on the free cash flow basis in the prior decade. >> when you look at the valuation over longer-term, you mention a decade, apple created multiples 10 years ago commences then, it has expanded significantly. apple is in a really unique position. it is better than consumer staples in some ways. first of all, you have option out of the of new products. you don't have that with healthcare or the broader car market. there is all this optionality that is not being counted. the second part of the story, different from staples, gross margin expansion, you are seeing services becoming a larger piece of the mix, you have this real secular shift of gross margins moving higher. it is inappropriate to compare it to prior valuations. i think the premium apple gets to the

the former ceo of lehman including warren buffett. looking to get us at basement points.e, forests every analyst and investor to mark down the value of risky assets on books with big banks that are mortgage related and every major bank except jpmorgan, but who knows? needing a bailout in major ways and insurance companies that were involved in risky financial products. interesting parallels. history often doesn't repeat itself but sometimes it does. one of the interesting things about crypto is it doesn't have much inherent wealth, what is backed up by other things, mortgage-backed security was backed up by an asset even though they were devalued and did come back. neil: it gets scary when you can't trade it or sell it and that got people a little unnerved. hope you have luck with the char broiling, charlie gasparino. where they are going, yesterday, we are looking at the ukraine factor that will go on as long as it takes for ukraine to defeat russia. it could take some time and what are we in for after this? your shipping manager left to “find themself.” leaving you lost

bought the online pharmacy for about $1 million a few years ago, they have this healthcare with warren buffettnd it didn't go anywhere so if shopped around for some time but it tells you where amazon was to pivot their future and where they expect, where the dollars could be coming from. stuart: looks happened, the dow is down nearly 200 points, is not your fault but you know. >> pick me next time on your propeller plane and we can fly together to cape cod. [laughter] stuart: you fly with me. [laughter] the dow is down 186-point, not your fault but we are down. cisco, walmart, lisa, travelers down, s&p 500, winners. what do they do? you don't know? got you. thermo fischer, what do they do? >> that's a laboratory supply company, a huge stock. stuart: new cost deal, gambling, whatever. tesla, a row that one. insight, was that? >> i believe also biomedical. stuart: some of the people who run these committees don't call me and say how come you don't know what you doing? >> so many viewers for your opening market. stuart: we do, we do it very well. thank you. only the ten year treasury, 2.98%, that

medicare each year, like warren buffett says, health care in general is a tape worm on the economy. what i want to do is face reality. regardless of the tax rate, over 50 years we average about 17.5% of our gdp in federal government revenues. if that's all you can get, regardless if you have high tax rates that gives you a lower economic growth or lower tax rates that maybe gives you a percent or more in economic growth, we need to acknowledge it. my plan does two simple things. acknowledges what our revenue has been over 50 years -- 17.5% of our gdp -- tapers what we spend into it, takes what we've done here as a maneuver to escape budgeting and appropriating by putting spending on mandatory versus discretionary, which is nothing other than saying i don't want to budget, i don't want to allocate resources. we're just going to do more each year. we keep doing it, we're not going to be able to fund the programs that we all consider important. so it acknowledges a reasonable revenue level. it moves $375 billion that used to be discretionary that is now mandatory back to discretionary.

and selling it back to the american public at a low price and i realize that a few days later, warren buffettn the dips about not selling it back to the american public. but i do think that we have to do more, people in my district, they are talking to me about gas prices, higher food prices they are talking to me about the airlines getting canceled, i mean, people are not being able to get prices, so those are the issues i guess when you remember at congress, meet folks, that's what is on people's mind we have to make it a priority. >> bill: that's a great point. thank you for your time and come back soon. appreciated the democrat from california, thank you. one of the largest teachers unions, now suggesting the term birthing parents instead of the word mother, the cofounder of moms for liberty is tiffany johnson and she has some ideas on that calling the union "to the k-12 cartel." she will join us live. and major movements to recall the lad and cologne on a soft on crime policy, where does that go next? we will tell you. i >> how george goss cohen got elected by telling people he was going

warren buffett bought $250 million of stock berkshire bought 12 million sh shares last week they own preferred stock and is offering to buy more shares for $59.62 each. what is happening? checking on the table? >> i'm checking on my table. phone is blowing up. was that really you? >>> coming up, competition in electric vehicles is heating up. data showing tesla is losing market share phil lebeau will have that story next. >>> today is the kickoff to earnings season. we hear from jpmorgan chase and morgan stanley they report in the next hour we have the numbers and reaction on wall street you are watching the one and only "squawk box" on cnbc. >> announcer: this cnbc program is sponsored by truist wealth. where meaningful relationships matter most. is a journey for the curious traveler, one that many have yet to discover. blooup to the history, the culture, the flavors, a serene river voyage on an elegant viking longship. learn more at viking.com this is xfinity rewards. a serene river voyage on an elegant viking longship. our way of showing our appreciation. with rewards of all shape

the answer warren buffett >>> still to come this morning, the ceo of price line's going to join us to holiday weekend as prices and bookings surge, muss, dr. scott gottlieb on the spread of omicron as covid cases rise. stay tuned you're watching "squawk box," and this is cnbc >>> welcome back to "squawk box. american airlines has offered pilots more than 17% it comes less than a week after united airlines reach add deal for a4% wage american's pilot union is reviewing the offer. and we'll speak to the spokesman in just a bit. >> do you know what they make? somewhere between25,000 and $162,000 per year. and it has to do with regional versus national. has to do with how long you've been there, all those different things you know this guy coming up here >> the greatest. >> the former cnbc-er. he hit the pilg time >> you know how he ends every segment? reporting for nbc news and then you know. >> and then you know why he's been so successful >> because you mentored him. >> in addition to that didn't you go to the university of colorado, aren't we both buffalos? americans are gearing up fo

also watching shares of occidental petroleum after warren buffett announced berkshire added to its holdings would be able to record some of occidental's earnings with its own. "squawk box" coming right back after this i'm here with these low handicap golfers to put the maxfli tour balls to the test. ♪ ♪ nice shot. and it sat down nicely, huh? how did it feel compared to the ball you play? i like the feel right off the face. now let's go to the bunker. just like the one that i play. just as good, if not better. the driver. more poppy. more penetrating. it feels like a tour ball to me. it's a little bit straighter. let's see it on the greens. i like the shape of the dimples. nothing like a nice dimple. maxfli. tour quality performance without the tour ball price. - common percy! - yeah let's go! on a trip. book with priceline. you save more, so you can “woooo” more. - wooo. - wooo. wooooo!!!!! woohooooo!!!! w-o-o-o-o-o... yeah, feel the savings. priceline. every trip is a big deal. . >>> federal prosecutors in new york and the occupational safety and health administration are inspecting a han