and warren buffett's decision to sell down heavily is stakes in apple. this comes after a massive second-quarter selling spree that boost warren buffett's cash pile. let's get the details and bring in critique group to -- kriti gupta. >> there is speculation that this is a story about the consumer. warren buffett is known to have an exposure to companies like railroads and coca-cola. this slashing he has done in other parts of his portfolio including bank of america. there is a consumer story baked in. the bank of america story -- it is a bank in the states that has a lot more consumer loan exposure than any other of some of its counterparts. that is one aspect. apple falls and the same category. it is a luxury product but a good chunk of its revenue is based on foot traffic into some of its stores. there are arguments that apple has been having a tough time getting on the ai train and getting hit by the fx exposure internationally so there is speculation that were in buffett saw this was a stock that was overvalued. if you put this in with some of the o

intel down just about 5%. >>> now turning to warren buffett's berkshire hathaway out with second quarteresults. now sitting at a record $277 billion after disclosing it sold $7655 billion in the second quarter. in all, buffett has been a seller of u.s. stocks for seven quarters. apple is the number one holding at $84 billion followed by bank of america and american express and coca-cola. joining me now is barbara goldstein. many of the members consider berkshire hathaway an essential part of their portfolio. barbara, good morning. >> good morning. >> it is important we found berkshire had a big beat with earnings. everybody is talking about the cash. $277 billion. how do you view that? >> well, buffett's recent moves show he is playing offense and defense at the same time. he is playing overvalued sectors and keeping his powder try for major acquisitions or investments which is consistent with the consensus of our most recent market opportunities and risk calls. all of the mholdings are lookin for investment opportunities. >> at the annual meeting, he did say he would like to spend, but

shares of apple taking a hit on the back of the news because over the weekend, warren buffett did comeut publicly disclosing it sold half of the stake in apple. buffett trimmed his apple stake in the first quarter and hinting at the annual meeting it was for tax reasons. berkshire sitting on a record cash pile 277billion. they trimmed stake in bank of america selling about $4 billion. i remember i was sitting in omaha during the meeting. by the way, tim cook was in the audience during that meeting. warren has a way of saying praised by name and criticized by category. if he is getting out of the stock, he said it is the largest position and has the confidence in tim cook. i'm not saying he doesn't have confidence in tim cook considering he is the largest shareholder. i'm just saying he is a very discreet and polite man publicly. >> yeah. it wouldn't have helped if he showed his hand. >> well, that, too. >> that's what i mean. you are calling discreet and kindly. i'm calling it crafty. >> you think he was planning to get out the entire time from may on? >> right. >> you think it had not

. >>> billionaire warren buffett -- billionaire? greatest investor of all time, warren buffett.ome on, guys. unloading more b of a shares, berkshire parsing its massive stake yet yet. although they have a lot of shares. >>> we'll have the latest read on the consumer, nordstrom, foot locker, pvh. >> i'm ready. you can hit me on that. >> i'm looking forward to hitting you on a lot. we'll start with nvidia, given it's due out after the bell, and we got a number of other earnings after the bell as well, jim, that are not insignificant, including salesforce. >> tonight is huge. >> give me your thoughts as we head in here. nvidia shares, you can kind of see what they have been doing over the last month. a nice move, and sort of hanging in there at that same level, let's call it, for the last few trading sessions. >> i think there's a couple pieces out today. i'll just put the whole thing in. the rubric is that the smart guys are selling, and retail is buying. that is the kind of thing i keep reading. why i'm disturbed by that is that smart guys have been selling the whole way. what ha

i know warren buffett is familiar with it. corner they go down, affordable luxury. lipstick. before the last recession you see an example of that. what do you make of warren buffett taking a big stake in ultra? >> one thing i love about the oracle of omaha is that he never gets ahead of himself, right? just follow the money and watch how consumers live and spend. better, the ceo of neiman marcus was the first person taught me as a little intern about the lipstick index. when things are bad, need to perk yourself up, buy lipstick. when things are great, go out to mitt hit the club, by lipstick. ulta is a great leader here. they have high-end stuff and short end stuff. target, i would not be short target but we would be much more structural when it comes to walmart, ulta situation. charles: i am stuck on alf. they're also in a lot of these stores. would you be abuyer of that. >> oh absolutely. i love elf. i love the story. if you're being hit, need to trade down, elf is waiting for your money, so take my wallet. charles: last ni

over the weekend warren buffett revealed he cut his apple holdings in half and he was a net seller of stock for some time, that is not send a positive signal. overnight japan's market dropped 12.4%, that is the worst one-day drop since 1987. here's where we are among the dow, the s&p and the nasdaq, the dow likely to be down about 1200 points at the opening bell in the nasdaq down a thousand, and percentage three or 4% down at the opening bell, all sectors have been hit, look at big tech all of them are down in nvidia is down roughly 33% from its high. heavy selling and crypto as well, if you look at bitcoin is down to 49000. way down, interest rates also falling sharply this may be a flight to shape into safety tenure dropping to 3.69%, the good news that mortgage rates are falling, the two-year all the way down to 3.80, now 3.71 ever heading to recession demand for oil should fall that's why oil is down $72 a barrel, gold approaching $2500 an ounce, it is down $50. ward talk in the middle east that's not helping an iranian attack is considered immediate and israeli has an undergroun

i love that warren buffett's in there. it's a good company. flow, 66% of their customers are enthusiasts and they make up 80% of their business. they have a strong brand i think it's an over saturated market you have sephora sitting in kohl's and massive global expansion there. retail sales this morning told us that consumers are just fine in spending, but also kind of on nondiscretionary i don't know what the catalyst is, and if i was in this stock 8% ago, it's actually still down 25% for the year or so i probably would take my gains and run. i'll look at it again next year. free cash flow is always good. >> why not all right, finally, we got your micro strategy shares are moving higher as defiance etf launches the first leveraged stock etf on micro strategy in the u.s. tell us about this new product and your thoughts on microsoft a single stock atf >> yeah, i love this it's 1.75, the daily performance of microstrategy the reason we launched this is twofold. one, it's the perfect cross section between exposure to ai and exposure to cryptocurr

we will have a preview. >>> warren buffett selling more stock.kshire hathaway trimming more shares of its top holding. which one? we'll tell you. >>> and nfl holders letting more players into the club, with deep pockets, looking to spread the cash around the fielding. it's wednesday, august 28th, 2024. "squawk box" begins right now. ♪ >>> good morning, everybody, and welcome to "squawk box" right here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen. andrew is off today. all right. we're watching to see what's happening with u.s. equities. >> how does it happen>>>? >> that we match? >> yeah. it happens so often. is that orange? >> orangey. close enough. >> great minds. >> we did not plan it. >> i think it's evolution because we've been sitting together for your so long. >> yes. scary. work wife. >>> let's take a look at what's been happening with the equity futures. dow futures up by 25 points,

.>> in the great to quote the greatest investor, oracle of home that, warren buffett who says in the times he advises investors to be greedy when preople are fearful selling off half of his apple stake, cashing up to 277 billion dollars, that tells you there has been a recent market peak. now if you look overall, and reframe, you are up on the year, the nasdaq is still higher. nasdaq 100, even the a.i. darling nvidia, doubleled your money this year despite the 30% decline you have seen over the past month. but investors tell me that right new this is about hedging grange the down sides, repositioning with a lot of uncertainty out there, whether it is over the election in november, whether it is over the japan or geo politics with iran/israel and impact on global oil price and commodities. >> neil: susan what is wild is what brought it on? it was an employment report that on the surface did show job gains not losses. 114,000 more jobs but the market was expecting more. that is very different than the melt down in the 2008 period, where losing close to 1 million jobs a month. what has

warren buffett selling a lot of stock. you pointed it out. it can't go unnoticed. not unimportant given how large a stake that was for them at berkshire. now $227 billion in cash. >> not just apple but bank of america. you pair these two together and you think, during that runup, what did buffet see coming? did he anticipate some market turbulence? i don't know. >> here we are right now in the midst of some turbulence. we'll have a lot more coverage of that right after this. it's time to grow your business. create a website. how? godaddy. coding... nah. but all that writing... nope. ai, done, built. let's get to work. create a beautiful website in minutes with godaddy. ah, these bills are crazy. she has no idea she's sitting on a gold part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you'rei sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. i. >>> good monday morning. welcome to "money movers." we're live from post 9 of the new york stock exchange. mark

. >>> as we head to break we wish warren buffett a very happy 94th birthday.he legendary investor, an early present. berkshire hathaway topped $ trillion in market cap. one of serve's u.s. companies in a very exclusive club and the only non-tech stock in that club. berkshire on a roll with class a shares up nearly 30% over the past year. warren buffettal stake in the company 15%. worth $145 billion. many happyetns. rur >>> we're back in just one minute. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. craig here pays too much for verizon wireless. so he sublet half his real estate office... [ bird squawks loudly ] to a pet shop. meg's moving company uses t-mobile. so she scaled down her fleet to save money. and don's paying so much for at&t, he's been waiting to update his equipment! there's a s

what would he tell warren buffett and others with a trillion dollars?ou will get his advice after this. ♪. [♪] can a personal loan unlock your ambitions? oh yeah. take a swing at your kitchen reno... we meant that literally. sofi personal loans. low, fixed rates. borrow up to $100k. no fees required. (♪) when you get your tools from harbor freight something about the job feels different - your wallet. whatever you do, do it for less, at harbor freight. save even more at our parking lot sale this weekend ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals and look forward to a more confident future. voya, well planned, well invested, well protected. when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these

the other pillar of pain warren buffett selling bank of america and apple? s the best he's the best there is some people looking at his moves and end up extrapolating to the point of absurdity and that's why they dumped the banks. it's why they dumped apple we heard it was based on apple's supposedly weaker chinese sales but ceo tim cook told me the sales were surprisingly strong and detailed why that was. for the rest of the week until we got a positive jobless claims number thursday morning we labored under the delusion that our economy was headed for a recession. worldwide recession all because of japan and the safest thing to do was to sell. it didn't matter that japan only bounced back 10% the next day. what matters was the smart money was getting out of the whole asset class and we felt like dopes hanging on in reality it was the dumb money that was getting out in part because warren buffett or one of his assists f sichbts made us nervous. of course we knew nothing about why he sold. maybe he was just ringing the register nobody cared it just made every

i understand what tom is saying, i understand what warren buffett sees as well. i think banks have been rewarded over the last couple months probably in anticipation of what i don't think is about to come. >> all right. good discussion there. a little optimism maybe from tom saying we don't see the hard landing at all. >>> all right. on deck forget taco tuesday, we have got a buffet, not a buffett, a buffet of earnings rolling out, the names and moves ahead. crypto up again today. a lot more to do. you're watching "fast money." ♪ that colonoscopy for getting screened ♪ ♪ is why i'm delaying ♪ ♪ i heard i had a choice ♪ ♪ i know the name, that's what i'm saying ♪ -cologuard®? -cologuard. cologuard! -screen for colon cancer. -at home, like you want. -you the man! -actually, he's a box. cologuard is a one-of-a-kind way to screen for colon cancer that's effective and non-invasive. it's for people 45+ at average risk, not high risk. false positive and negative results may occur. ask your provider for cologuard. ♪ i did it my way ♪ t-mobile's 5g network connects a hund

and all of this coming as warren buffett, the oracle of omaha, one of wall street's best known names,got it. >> yeah, happy birthday, one could say. cnbc's dan murphy live from london, thank you. >>> still ahead, the congressional task force investigating the assassination attempt on former president trump has put in a slew of new records requests from multiple federal organizations. we'll talk to a member of the task force, congressman madeleine dean of pennsylvania. "way too early" comes right back. of pesylvania "way too early" comes right back o) switch to the partner businesses rely on. (restaurant noise) allison! (restaurant noise) ♪♪ [announcer] introducing allison's plaque psoriasis. she thinks her flaky, gray patches are all people see. otezla is the #1 prescribed pill to treat plaque psoriasis. over here! otezla can help you get clearer skin and reduce itching and flaking. with no routine blood tests required. doctors have been prescribing otezla for over a decade. otezla is also approved to treat psoriatic arthritis. don't use otezla if you're allergic to it. serious allerg

warren buffett's berkshire hathaway sold nearly half of its gigantic apple stake earlier this year.stor, who is famously focused on long term gains. according to the company's earnings, its holding in the iphone maker was valued at $84.2 billion at the end of the march tojune quarter. that would mean it offloaded a little more than 49% of its stake. we are keeping a close eye on markets here in asia which have just opened after the big sell—off in asia last week, especially in tech stocks investors are concerned about the health of the us economy after the jobs report last week and actually activity fuelling fears of recession as well. we will keep a watch on that. here is a special report. scams seem to be everywhere nowadays. a bbc reporter has been given an insight into one type of financial scam — �*pig butchering' — where victims are romantically befriended on social media and then tricked into investing in fake crypto schemes. cyber correspondentjoe tidy was targeted on instagram and played along for more than two months to find out what psychological tricks the scammers emplo

the most seasoned shark of the financial world, warren buffett, whose conglomerate's cash is a record 277 billion dollars, sensing something was wrong, he left the shares of apple and bank of america. the oracle of omoha was not just preparing for deep market decline, but in a sense it also helped push it along. the wall street journal explains what happened this way: financial losses swept across europe and the united states as investors dumped riskier assets. in the united states, the decline. monday's market crash raises both the risks of a recession and a more dire financial-market disaster, but for federal reserve officials, the outlook will likely have to get worse to prompt a larger response. the brunt of the stock market panic has been borne by high-tech companies. struggling with artificial intelligence. locomotives may slow down, which will inevitably slow down others. investors are overestimating the risks of a global economic collapse, but their fears could become a prophecy if central banks fail to contain the consequences of the sell-off. a slowdown in the american econo

non—technology related company to do so, joining the likes of microsoft and amazon.shares of the warren buffett—led higher in new york.mr buffet is credited for transforming the once failing textile maker into an investmentjuggernaut. the boss of ryanair says passengers should be limited to two alcoholic drinks at airports. michael 0'leary said this will help tackle a rise in disorder on flights.he told the daily telegraph that violent outbursts were occuring every week due to alcohol, especially when it is mixed with other substances. staying with the aviation industry, australia's national carrier qantas has just released its latest report card.it posted a i6% drop in annual profit, due to rising fuel costs and lower fares. just earlier this week, the airline made headlines for mistakenly selling first—class tickets at a steep discount to hundreds of customers. qantas has since refunded or downgraded passengers affected by the mishap.>brendan sobie from sobie aviation told us the results weren't surprising. we are seeing this across asia—pacific with international market starting to soften. so no

why do you remain bullish on apple when warren buffett is cutting exposure to the stock? for buffett, buffett cut in q1, too. it is still his number one position by more than double over bank of america. clearly this is going to put gasoline on the fire in terms of worries in terms of overall tech. when you look at apple right now, they're going into what i view as the biggest a.i. driven super cycle in terms of the action cycle in last five years. we saw this bet on cook. it is the wrong time to get off the name in my upon. i get what buffett is doing with tax as he has been 100% right on tech. this is not the right time to sell apple in my opinion. we have been talking to investors and you buy apple on weakness today. >> dan, as we come into the start of the equity trade, what are you watching? if you take a step back and think about this, who is to blame for the selloff we are seeing right now? is it weak data or the fed or the tech ceos who got up on stage at the big events in leather jackets and promised us the world in a.i. and failed to deliver? >> i feel it is the

take a look at sirius xm surging after warren buffett's berkshire hathaway raised at stake in that companyen owns 133 million shares, up 6%. %. donald trump vowed to take action on the migrant crisis on day one of elected. >> of kamala wins you will have mass amnesty and citizenship for all of the biden/harris illegals that poured into our country. if i when you will have the largest deportation operation in american history starting at noon on inauguration day 2025. stuart: national border patrol council vice president joins me now. that sounds like a huge feed, we are talking millions of deportations, do you think he can get it done? >> i think he can. they have to have a big effort, other agencies may have to get involved but we got to break this down. what does he mean that -- a lot of new media on the far left criticized him for saying this is attacked him, what he's talking about mass deportation what he talking about. this administration has allowed millions of individuals to come into this country unvented. there is a vetting system, they get sent back but if they commit in the the

warren buffett does not time his stock purchases because seeks out value.for a period of uncertainty, you by the idea that when times gets tough they buy small luxuries like cosmetics? dana: overall what is happening with cosmetics remain strong. during the pandemic it was a crazy zoom cosmetics category because the growth rate was up double digits. it is normalizing to around single digits. you look at that in comparison and it is still strong growth. one thing to note, there are expanded distribution points whether you have companies like sephora and kohls, ulta and target there have been more distribution points. even the off-pricers having more beauty assortment. that is the competitive force and with ulta's beauty -- loyalty program they need to be defining. scarlet: tapestry is up by 3.3%. you have the lower end that could argue is cosmetics and then you have the higher end. it gives weight to the idea that we are in a k shaped economy where high-end stuff and low end stuff does well. tapestry earnings came in better than analysts anticipated despite

when the world found out last friday night that warren buffett recently jettisoned half his shares ofinto short-term treasuries. buffett owns more t-bills than the federal reserve does. according to the latest financial report, berkshire hathaway holds 234 billion in short-term investments and t-bills compared with 105 billion in t-bills as the fed owns. his company cash sits there, it's yielding around 5.2%. what does buffett's huge cash holdings say about his outlook on the market? joining me invest net solutions co-cio dana doerio. he has 375 billion in assets under management. a bit more than warren is holding in t-bills. dana it is less about that and more in my opinion about what we all can learn and maybe follow when it comes to his investing patterns? >> yeah, for sure and obviously he is a little different from all the rest of us because you know, he has been an investor who is also very involved in his investments in a different way than perhaps the retail audience we're speaking to, investors we're catering to via advisors. a different kind, warren buffett is involved insid

it did not help when warren buffett revealed he sold half of his stake in apple and he was a net seller of stocks for several quarters. it sends a signal would investor cuts his stock holdings, do you know he has $277 billion in cash. war talk is affected in the selloff, iran is considering a direct attack on israel his retaliation for the killing of the hamas leader in tehran last week, a wave of rocket attacks is expected, mayors and israeli towns have been warned with power and outages in tel aviv and underground bunker has been publicly revealed for the first time, it is omnibus, then there's politics in the election. ever heading to recession wall street does not want to hear about tax hikes on corporations or the repeal of trump's tax cuts, here we are in white knuckle territory, the federal reserve is being hammered for not cutting rates, a.i. looks like a bubble that's bursting in the 162 million americans who have a stake in the stock market are looking at a cut in their net worth, when does the selling stop? brian brenberg with us this morning is it time for an emergency break

taking the opposite tact that warren buffett was taking. >> true.this morning with the first results of medicare's negotiation on the price of key medications. we'll ask those details after the break and speak with the administrator of medicare and medicaid services. stay tuned "squawk box" will be right back. >>> we have news out from the white house. result of the first medicare drug price negotiation bertha coombs is here with a look how drug price plans will change next year for beneficiaries and insurance companies. >> that's right. big changes coming administration touting $6 billion in savings when those new negotiated prices go into effect, but that's not until 2026 there william some fundamental changes to medicare part d under the i.r.a. that could raise costs in the near term next year out of pocket costs for part d beneficiaries capped at $2,000, which hss estimates will save patients $7.4 billion next year. under a new program also be able to smooth out their drug costs over time. kind of like buy now, pay later. that extra coverage wil

with that have been a complaint because warren buffett is very supportive of kamala harris.are rich come on one end, you are good, and if not, you support trump, you are not good. >> judge jeanine: the point greg makes is a good one. they have reached the pinnacle of the business world, and two of them having a free-flowing conversation that kamala is trying to convince us or the democrats are trying to convince us is really a threat to democracy. it's a threat to democracy because they can't control the narrative. and the amazing part of it is that musk said, look, if kamala harris wants to come on x and have this conversation, i would be happy to have her on, as well. you know, i kind of like listening to some substance as opposed to talking for weeks on end about how kamala just won't come out and speak, although what she did do was she says, apparently last night she says, trying to control democracy, started fundraising, chip in $25 now so we can respond to their lies. be real easy, respond to their lies. sitting down and having an interview. maybe with elon musk. i lik

neil: real quickly on that he referred to apple and the fact that warren buffett's sold half of his stakethe optimist goods turn that around and say he kept half of his stake, what you make of that. >> i like the way that you think, mr. buffett did what i will humbly say that i do, when a stock hit your target, you sell half. he sold half of his position, to be clear, apple is still 30% of brookshire's portfolio. in other words it was up toward 60, he better be selling it, that is too big you never want to stock to be that big, i would argue 30% is too big and it probably ought to be better than ten, 11 or 12% if he really likes it. he put some of the money in his pocket and he said fine i have a big chunk of capital and i still own a lot of apple, what else can i buy especially right now that so many of these names have come down. neil: gentlemen a very balance read on all of this, we will talk later with robert prechter on january warned that we were getting a little too giddy i wonder what he feels like now, the man who really crystallize the whole elliott wave and markets move in sent

american players are behaving in the same way, in particular warren buffett's berkshire hadaway is actively getting rid of shares and transferring money into cash. their volume has grown to a record 276 billion dollars. stock exchanges are falling globally now due to a whole series of negative news items coming out in america, related to the fact that weak figures were published on new jobs and that many technology companies announced worse-than-expected corporate results for the first half of the twenty-first century. fourth year. as for the asian markets, of course they... especially the largest japanese index, it is not linked to america and does not react linearly to changes in the american stock market, and many american technology companies are heavily tied to asian markets, the reason for the panic was the publication of weak data on the us economy, a decrease in the number of jobs, negative forecasts for production, an increase in the number of corporate bankruptcies, all this makes analysts talk about the risk recession. goldman sachs estimates its probability at 25%, jp morgan eve

american players behave in the same way, in particular berkshire hadaway, warren buffett is actively transferring money into cash. their volume increased to a record 276 billion dollars. globally, stock exchanges are falling now because of what happened in america. a number of negative news related to the fact that weak numbers on new jobs were published and the fact that many technology companies announced worse-than-expected corporate results for the first half of 2024. as for the asian markets, they are certainly interconnected, especially the largest japanese index with america, and they react linearly to changes in the american stock market. and many high-tech american companies are heavily dependent on asian markets. the reason for panic was the publication of weak data on the us economy, a decline in the number of jobs, negative forecasts for production, an increase in the number of corporate bankruptcies, all this makes analysts talk about the risk of recession. in goldman-sachs, its probability is estimated at 25% at jp morgan, even at 50. one of the main reasons for the eco

warren buffett owns 30% of oxy now. why can't the energy patch, which valuations you can make a compelling case, they're better run than they've ever been before, why can't the stocks get out of their own way? >> well, i don't cover stocks in particular, but you know, one of the things we talk about with m&a, and it's an interesting question about the resilience of u.s. production. u.s. production, 13.4 million barrels, and there have been some question about if you had more m&a, would you see more restrained u.s. production, but essentially now, with m&a driving is sector, is that leading to the elevated u.s. production numbers? the u.s. story has been remarkably resilient. >> is there an election play here, helima? both candidates speak about energy very differently. >> well, this is interesting, sara, because condition candida one way on the election trail, but when they have togovern when they sort of get mugged by reality, i mean, look at how the biden administration pivoted on energy policy. certainly kamala harri

from warren buffett, hats off, the timing is impeccable.amptons listening to this. a lot of taps on the shoulder and get back to work. dani: maybe half off the train -- maybe hop off the train and get on the train that goes back to the hamptons and call in sick this week. jonathan: jan hatzius raising odds that 25% from 15% but adding the fed is plenty of room to cut. goldman sachs calling for 25 in september and making the point that to call the 50 you have to make until the next payrolls report. if we get another one like that it looks like they will change their call. dani: austan goolsbee saying we need to see more evidence of a labor market slowing down. the market is not acting that way. one month has been enough. does the fed speak need to change tone? jonathan: the disco year is now 20 basis points lower which is why out. 3.69 on the front end of the curve. the calls on the federal reserve have been wild as well. traders have been boosting the odds for an emergency fed rate cut within one week. friday's disappointing payroll print c

we need to look apple because the selloff has a big star, warren buffett knife can cut both ways. "after the bell" on friday for an berkshire hathaway revealed a cut it's taken iphone maker by nearly half going from $135 billion stake down to 84 billion this is a lesson in discipline profit-taking, buffett began amassing his stake in 2016 with a cost basis of $34 a share, ran all the way up, now it's at 205. he was sitting around in the last couple weeks thinking i need to take profit all of this looks heinous especially the 1047-point drop in the dow but if you want to see the biggest sign that the patient brought in kicking and screaming yelling cell has been restrained or subdued wall street sphere index right before the market open shot up 181% to 67 that would be the largest gain in history right now it came down still at 53% but stands at 35 let's bring into big voices to help us understand and digest all of this and make the right choices, j.p. morgan global market strategist just family and global investment strategist. how do the markets go from all in equity riding aroun

and i think when warren buffett talks about the great resiliency of america, i believe that and somethingand sometimes have to go through difficult times to do it. for the pbs newshour, i'm -- judy: for the pbs newshour, i'm judy woodruff, in bentonville, arkansas. ♪ geoff: there's a lot more online, including a look at where vice president kamala harris stands on reproductive rights issues. that's on our instagram. amna: and that's the newshour for tonight. i'm amna nawaz. geoff: and i'm geoff bennett. for all of us here at the pbs newshour, thanks for spending part of your evening with us. >> major funding for the pbs news hour has been provided by. the ongoing support of these individuals and institutions. and friends of the newshour, including jim and nancy, and the robert and virginia schiller foundation. the ford foundation, working with visionaries on the front lines of social change worldwide. funding for america at a crossroads was provided by. ♪ and with the ongoing support of these individuals and institutions. ♪ this program was made possible by the corporation for public broa

they are jumping to the very top of the s&p up nearly 12% after legendary investor warren buffett saidoing to slap some lipstick on our portfolio here. he took a stake in the beauty retailer. according to the regulatory filing the berkshire hathaway ceo reportedly bought more than 690,000 shares of ulta for the company, which is worth about $227 million. the cosmetics store chain is looking to turnaround a rocky year. the stock has fallen 24% year-to-date. classic buffett move seeing a great company going through a difficult time and says time to buy. shares plunging right now about 38.5% after aerospace and defense company lockheed martin announced plans to take the satellite maker private in a $450 million deal. with the acquisition, lockheed will pay off taron's debt and setup a $30 million capital facility to keep the company running, reporting less than 15 million in cash reserves at the end of july with a $300 million mountain of debt, the deal is expected to close in the fourth quarter of this year for its part lockheed martin is down half a percent. let's look at tapestry. this

american investor warren buffett sold bank of america shares for more than half a billion dollars. investment fund got rid of 14 million shares of the financial institution at once monster, since mid-july the fund's share in it has decreased by more than 4 billion 300 million dollars, the bank's stock quotes have fallen by 10% in a month. despite this, bershare remains the largest shareholder of bank of america, the fund owns about 12% of the total share capital in the amount of about 37 billion dollars. this is the third largest position in the bershare portfolio, second only to apple and american express. baffet does not comment on purchases or sales of shares, but there is an assumption that the legendary investor sensed the trend of declining stock quotes believes that the us market is currently overvalued. on the other hand, who doesn't think so? at the end of the issue about currencies, the dollar exchange rate today is 90-69, the euro is worth 100 rubles 20 kopecks. and that 's all the economic news i have for now. roman, konstantin, thank you, we continue. the first group o

also strengthen homebuilders and banks and a shout out to warren buffett who is a berkshire hathawaynd hit a record on friday, buffett turns 94 on august 30 which is coming up in the stock market cap is approaching a trillion dollars and a great birthday present and it's only 2% away from that. >> i'm guessing he's blushing. >> e number is going to be nvidia earnings report on wednesday and nvidia is about whether tech stop in investors the earnings are supposed to be around 67 cents per share -- tears number of people interested in the resident expert on nvidia with bullish on a.i. and he likes what's going on with the stock. jack: we haven't heard a lot of details about the candidates economics plans, we have heard something about what kamala harris would like to do on housing. what's on the table what are the chances of a happening. >> i would like to say there's a ton of detail on the table. even with housing she's been more specific, we haven't quite narrowed it down all that much. the big issue that housing is unaffordable, everyone can agree on that. she is propose giving twit

american investor warren buffett sold bank of america shares for more than half a billion dollars. investment fund, berchcher, got rid of 14 million shares of the financial monster at once. well, since mid-july, the fund's share in it has decreased by more than 4 billion 300 million dollars, the bank's share prices have fallen by 10% in a month. despite this, berchcher remains the largest shareholder of bank of america. the fund owns about 12% of the total share capital , worth about $37 billion. this is the third largest position in bergen's portfolio, behind only apple and american express. baffet does not comment on the purchase or sale of shares, but there is an assumption that the legendary investor sensed a trend towards... a decline in quotes believes that the us stock market is currently overvalued. at the end of the issue on currencies, the dollar exchange rate today is 90-69, the euro is worth 100 rubles 200 - 20 kopecks, of course, 100 rubles 20 kopecks. that's all i have for now. roman. konstantin, thank you, we continue. at the aircraft plant in komsomolsk, there is a

and warren buffett has amassed a personal record $277 billion.nancial conglomerate berkshire has sharply increased sales of stocks, including apple. their share of the portfolio was halved. as the billionaire explained, it is now necessary to pay tax at a rate of 21% on investment profits. however, many investors interpreted this as uncertainty about the iphone maker's prospects. it was economic news. short. we continue our news review. as it became known, american spies evna gershkovich and. the facts completely refute the west’s version that these are allegedly not intelligence agents, but evidence from the russian side, allegedly fictitious. anton potkovenko will tell you more. march twenty -third, yekaterinburg, correspondent of the moscow bureau of the wall street journal, evan gershkovich arranged a meeting with a representative of the ural wagon plant. referring to the editorial assignment, he asked to provide him with information about... the activities of the defense enterprise in the context of the northern military district, to disclos

warren buffett, berkshire hathaway unloading some of the apple steak and continuing to unwind bank ofca that added to the jitters but it's mostly about the economy and the sudden weakness that might be in the u.s. economy. >> i totally agree i think were seeing the pivot from bad news is good news to bad news is just bad news this is interesting the lower-than-expected jobs that started the whole train on the station. we will see the mixed-signal from the economy and that's going to happen in jobless claims. obviously at the start of the month those were a little bit down and that sent folks into a little bit of a worry signal but they didn't do so bad this week and help the markets rebound. we will definitely get the latest inflation next week that may be the mixed signals but this will be something that we have to monitor and it could create volatility in the near future. >> economist told me this past week it's too late to panic we can skip panicking but what else should investors do. >> they can it on monday you to want to panic at a time like this. you want a levelheaded approach

at the time, the still a 232000000 dollar investment from warren buffett and 2000 date fuel b y d e v. i'm bush in 2020 b y d launch the blades bucktree and l s p, or lithium ion phosphate factory, which cost less than other types of lithium ion battery is used in a, b b y, d is laid with more compact c the space. so as well, 11 a b y d t sedan and subsequent muscles incorporated the blades, battery b, y, d e. b sales surge from almost 131020221 point 57000000 in the following year. the battery is the most expensive part of the car. it's about 40 percent of the cost of an electric cars, the battery. and if you have competency as in a battery. yeah. also emulation wise, but also cost wise. then you have a big advantage in building electric costs. like neo before the b y d is in global markets, especially europe with low chain, 3 of them up all or so it's no coincidence. the b y d was named the official e v. sponsor of the euro 2024 football championship. that could be another nail in the coffin for the gym, and auto industry as this was long volkswagens golden tickets. now b, y d is on

the sharp selloff is notable for ceo warren buffett, who is known for holding on to stocks for long periods of time. all right, let's talk olympics. team usa is celebrating this morning after a weekend of big wins. the 100 meter race was one of the closest races in olympic history. you can see jamaican runners starting to celebrate his first place win. but after a photo finish review, turns out american noah lyles crossed the finish line first. he won by five thousandths of a second. wow and set a new personal best. congrats to him. well, last night was the final night of swimming at the paris olympic games and team usa went out with a bang. the usa broke two world records. bobby finke set a new record in the 1500 freestyle and in the women's four by 100 meter relay. take a look at this. a strong lead by team usa lilly king, gretchen walsh and tori huskey secured the gold and set a new record, adding to team usa's total of eight gold medals for swimming. well for gymnastics superstar simone biles. it's the final day of competition. she's competing in the finals for both beam and floor. now,

warren buffett clearly feels a little more skeptical. >> it's hard to bet against warren buffett, butefresh cycle on 500 million phones that are out there, so i think there's a lot of growth there, and of course, apple intelligence is going to prove the services revenue line going forward as well. >> i agree, but the question is whether it's a super cycle situation this fall or whether you think it actually takes an extra year. >> it's going to take an extra year, but i think you're going to start seeing it over the holiday season. >> okay, ray, we appreciate you being with us this morning. thank you. >> thanks a lot. >>> meantime, let's take a final check on the markets right now. after that cpi number coming in, giving us some sense that, what do you think, 25 basis points? 50 basis points? that's sort of the question mark. dow up about 40 points. nasdaq up about 30 points. s&p up about 9 points. treasury yields, ten-year, 3.852%. we got the two-year at 3.970% and you got a big thank you to melissa lee. >> pleasure. >> for -- pleasure, you say, with such a bright smile. we'll see yo

was it warren buffett's publicized halving of his share in apple? of these reasons converged to create the unenthusiastic choppiness in the market we see this week. >> as you point out, buffett, people pay attention this has been happening the last year and a half with the positions. he doesn't have to say right away. you find out about it months later and just for sentiment, it just adds to the, i guess, nervousness. the narrative of a soft landing, that was so engrained in everyone as mission accomplished. now we don't know. you are not convinced that the world is ending any time soon. >> no, the fundmamentals have nt changed the last year and a half. listen to jamie dimon today, listening to a 35% probability is still less than 50%. it is still pretty cautious in terms of that and they could easily get out of that estimate if things look better. what is looking is how much the rhetoric moved and what the fed needs to do. it moved into almost full-scale panic mode and we have had about the 25-basis point cut and then a 50 and the emergency move. t