. >> it certainly does welcome to the "closing bell" i'm wilfred frost of the new york stock exchange. following tuesday's downturn, the dow, s&p, nasdaq all firmly higher as we head into the final hour of trade. >> i'm sara eisen, welcome, let's look at what is driving the action in the final hour energy, top performing sector as crude oil gets a bid, prices up around 3%, and chevron is among the dow's biggest winners. microsoft helping the dow after news of a dividend hike, a $60 b $60 billion buy back program and china remains in focus, amid concerns of slowing growth and increased regulation casino names getting slammed again on news of more scrutiny more on that in a moment 59 minutes left to go in the session. >> coming up on the show today, a can't miss exclusive interview with the ceo of pepsico on the company's new sustainability initiative which it calls an end-to-end transformation of how it operates. it's the first ever tv interview, plus the ceo of columbia sportswear who is at the white house for today's meeting on vaccine mandates will get his first take on the conversa

>> you know, actually, wilfred, i'm seeing a lot of activity that gives me a lot of confidence first,at payments, whether clients are using credit or debit cards, or ach wires, writing a check. payments are up 20% versus the pre-pandemic period in 2019. and the other area i like at spend. we're seeing credit and debit spend that's up 25% versus the pre-pandemic period. now, you have to look underneath that and say where are clients spending as well those show some encurrenting spend, and interestingly enough, i look at ought. 60% of spend was on clothing you think about families with kids going back to school, you saw some signs of normalcy there. >> you haven't seen any signs of slowdown, whether because of delta or otherwise on week on week or month-on-month basis. >> the only things you look at, travel had been rebounding, right? if you think about the beginning of the year, travel was down about 50%, last month down maybe about 9% even there, i would tell you -- that's versus a pre-pandemic area, even in our debit card spend, that was up 6%. we've got to watch that, you know, as w

i'm wilfred frost. a sloppy september end with another rough day on wall street averages turning sharply lower as we head into the final hour of trade, sara. >> welcome, everyone i i'm sara eisen uncertainty of the debt ceiling and the infrastructure bill weighing today senator manchin saying this afternoon the most to spend on a reconciliation is $1.5 trillion. nasdaq is outperforming as the upswing in bond yields takes a pause and supply chain concerns weigh heavy today on bed bath & beyond slammed missing the month and the third quarter. >> coming up, we have got some great guests to break down the volatile market including cameron dawson, stephanie link, steve sosnick and kevin landis plus jason furman will join us to make sense of the drama in d.c. and how it impacts your portfolio. >> let's get straight to the big stories this hour. mike santoli, ylan m uy and steve liesman. mook, definitely a different flavor with tech outperforming. >> a little bit of end of the month, end of the quarter decisio

i'm sara eisen here with wilfred frost and mike santelli.ake a look at how we finished on wall street dow down 615 at the low. as you can see there in the final hour headed south. microsoft, goldman sachs, biggest drags on the market. s&p 500 down 2% at the close worst day for the s&p since may. every sector hit technology the hardest tech, communication services, consumer discretionary down at least 2% apiece. those higher bond yields weighing especially on technology that's why the nasdaq sold off the hardest. worst day for the nasdaq since march this year. so pretty heavy selling in the day. energy the only s&p sector in the green today. and september. we are tracking for our worst month here for september since last october it's been a very bumpy ride. coming up, you will hear from famed investor jeremy grantham on energy. plus, blackrock's rick reiter. first up on this close delano is still with us. jack manly from jpmorgan asset management joins the conversation first to you, mike on the damage that was done today and then how it looks

as wilfred said we managed to close higher for the dow jones industrials.d ultimately close down just a touch. about 4.5 points with the russell 2000 also closing in the red. carnival however a winner today after the cruise line operator reported a better than expected cash burn. ceo arnold donald breaks down the numbers and how the delta covid concerns impact bookings shannon is still with us and rebecca patterson joins the conversation mike, first comment to you we did end up ending the -- i should say the week and the day on friday higher for several major averages a surprise after this week. >> yeah. for sure late monday it looked like we would have to dig out of a bigger trench. the big story probably in terms of incremental moves is what happened in the 10-year treasury back up to 1.46. if you were to make a list a week ago of things to be concerned about coming into the week it was the fed is probably going to handicap the taper. it did so. yields backed up on the news you will have earnings from fedex and nike they did tell you tough things about su

i'm morgan in for sara with wilfred.lose the dow finishing higher by 72 or .2% i can speak today. i promise. the s&p finishing lower. 4443 the level there and the nasdaq the underperformer with the composite down half a percent. russell 2000 an outperformer up 1.7% and the transports up 1%. morgan stanley chief strategist mike wilson on why he thinks it's time to be defensive and the sectors to stick with right now but first breaking news on another fed retirement steve liesman has the details for us. >> thank you robert kaplan, the president of the dallas fed, announced moments ago that he'll retire as of october 8 kaplan, of course, was one of the ones that became a focus of a conflict of interest at the federal reserve. kaplan saying that because of the issues surrounding the finances, he made the decision to retire so as not to take focus from the federal reserve saying it's a critical point in the recovery unfortunately the recent focus on my financial disclosure risk being a distraction to the execution of that vit

i i i'm wilfred frost with sara eisen.nike and costco we will have reaction whether the reports cross. stephanie link and delano is with us and liz ann saunders joins the conversation now your snapshot takeaway on this roller coaster week we have. >> coming into this looking at positioning in the options market particularly retail investors, there was actually a bit of prep that had been done for some sort of pullback and then as they've proven to do consistently in the past year bought the dip in earnest on tuesday and why we have had the rebound we have had and folks watched the 50-day average and monday's swoon down took us below that than we have hit before and now back above that so i think that technical picture is improved, too i wouldn't be surprised to see continued swings like this not to mention a lot of churn and rotation under the surface. >> what happened with bonds today. the 10-year yield 1.42 saw a lot of selling in the treasuries are you surprised the broader market held up especially like technology, nas

wilfred floss has the details for us >> following the news last month two long standing deputies a bank of america were retiring, the company announced a slew of promotions also by the way, two other significant retirements, andrea smith and david leitch the first big take away from today's announcement, brian moynihan is going nowhere. a source close to me suggests at 61 he's keen to remain in place for most of the rest of this decade and it's north noting that nobody received the firm-wide coo title that the departing tom montag had that said, the standout name in the promotions is dean athanasia who adds president of commercial banking to his president of consumer and small business titles this is a significant additional role for him, also a significant change in structure for bank of america. more akin to others like jp moor morgan and chase alistair back and forth wick is the new cfo meaning he'll have exposure to investors rather than predominantly clients in the years to come. if anything were to happen to moynihan imminently, it would be one of those who take over possibly also

>> and sara, too and wilfred, also.here. >> to qualify to be there, mark -- >> dreamforce. >> i will be one of the dancing animals if necessary. >> you said that urn at one point and like to hear that story. >> i was quite possible. the right size we have to leave it there. thank you so much. >> bye thank you. >> we look forward to the rest of the interview see you next year. mark with jim again for more of that interview which is about to record 6:00 p.m. eastern time with "mad money. time for a news update with rahal solomon. >> hi. here's what's happening at this hour the trump campaign apparently doubt claims of election fraud made by the president's lawyers and directed at dominion voting systems and software that's according to new court filings reviewed by "the new york times" why the campaign reportedly sought to verify the claims but found no evidence of the fraud allegations. >>> a group of progressive democrats introduced a bill to reimpose a moratorium on evictions. lawmakers say it's necessary to keep peopl

wilfred? >> well worth checking that out.out half a percent on the s&p with 28 minutes left of the session. it's time now for a cnbc news update with rahel solomon. >> here's what's happening at this hour. we begin in dallas where an explosion caused by a natural gas leak partially collapsed an apartment building seven people were injured including two firefighters who are in critical condition. they were investigating the leak when the explosion happened. >>> premiums will be falling next year from any medicare advantage and prescription drug plans. the average medicare advantage plan will cost $19 a month in 2022 that's more than $2 less than this year. >>> tickets for the beijing winter games will only be sold to people from mainland china. beijing organizers say that their focus on keeping the olympics safe. athletes and other participants must prove that they are fully vaccinated or quarantine for three weeks ahead of the games >>> and in london royal fans of the new james bond movie, prince charles and prince william an

i'm wilfred frost at the new york stock exchange. the dow in the green on this first trading day of the week. the s&p and nasdaq are lagging, as we head into the final hour of trade let's look at what is driving the action right now oil movies -- moves higher work from home names like zoom and docusign are lower nike weighs on the dow after an analyst downgrades the stock 59 minutes left to go in the session. >>. >>> coming up on the show today, the ceo of clorox joins us, as she marks one year at the helm she'll tell you how she's managed through the pandemic. >>> plus the chief operating over of match will be here about the apple ruling >> first up, let's focus on the , seema mody with a look at industrial stocks mike, start us off with the market a lovin period of softness on the s&p, this kind of seesaw action where we're seeing large nasdaq stocks in a prolonged breather that's working to the detriment of the s&p , unwound that much up side. the other dynamic, there's been a pattern, especially the last three months around the 1

. >> i'm wilfred frost let's look at what is driving the action a federal judge ruling that apple can no longer -- directing customers away from in-app purchases, and august producer prices came in hot, rising versus july, and more than 8 percent over the last year, and energy is among the top sectors today as oil prices go up a bit. sara >> well fred, in just a moment, the ceo of kroger joins us exclusively on the back of the company's earnings the stock get hit hard today, despite a beat on the top and bottom lines, and the kreismt oh beckon dickinson on their sportphone covid test. >>> mike santoli has it moving a bit lower in the last hour or so, but nothing too pronounced in fact, that decline in apple accounts for all of the s&p 500's down side right now. ex-apple, it would be about dead flat what's interesting is we can debate whether this $60 billion is justified but what is interesting is we just containment off of one of these real chases higher when apple starts to break out and trend higher it has a tendency of people piling in. where it takes it right now is back to the t

. >> thanks for having me, wilfred. >> so a bit after slowdown nothing major? what's causing that?> it's a return to normalcy, what's new is new listings are up about 10% we haven't seen an increase in inventory for a long time. they thought if they wait one more month, they'll get more money, but now i think sellers are near the top of the market, more eager to get their homes listed and sold. it's easy to put deals together than it has been in a year. >> we're near the top of the market, you think? >> i don't think ear going to see price appreciation of 20% to 25% for years. prices may still remain strong about a third of homes are selling in a week, but they won't be shooting through the roof the way they were in the spring or last fall. >> you know, we just had a conversation about the labor market i have just gone through a home renovation itself. it took longer than expected, because of problems with labors and materials, just shortages everywhere how does all of that play into the housing market doesn't that make supply even more constrained how did that ever get fixed? >> i

. >> it certainly does welcome to the "closing bell" i'm wilfred frost of the new york stock exchangellowing tuesday's downturn, the dow, s&p, nasdaq all firmly higher as we head into the final hour of trade. >> i'm sara eisen, welcome, let's look at what is driving the action in the final hour energy, top performing sector as crude oil gets a bid, prices up around 3%, and chevron is among the dow's biggest winners. microsoft helping the dow after news of a dividend hike, a

. >> i'm michael santoli in for wilfred frost. big cap tech is ticking lower.crosoft and nasdaq are weighing on s&p 500 the material sector no

. >> we are positive as we stand i'm wilfred frost.what's driving the action the fed meeting. treasury yields a bit higher following the drop as investors await guidance the industrial sector is the beingest

i'm wilfred frost at the new york stock exchange.the green on this first trading day of the week. the s&p and nasdaq are lagging, as we head into the final hour of trade let's look at what is driving the action right now oil movies -- moves higher work from home names like zoom and docusign are lower nike weighs on the dow after an analyst downgrades

. >>> tyler, tkelly, thank you i'm wilfred frost.ressure today the dow in jeopardy of turning in its third straight session of declines i'm morgan brennan in for sarah eisen. the latest read on job openings showed how tight the labor market really is with nearly 11 million open positions meantime, the fed saying in its beige book that sxhk growth has down shifted in light of covid concerns crypto remains in focus. toda

. >> i'm mike santoli in for wilfred frost.tion the nasdaq is on top, among big cap indexes led by a pop in chinese internet names apple is higher as well. that stock hitting

. >> i'm wilfred frost let's look at what is driving the action a federal judge ruling that apple cans away from in-app

i'm wilfred frost at new york stock exchange a mixed picture today as we kick off a trading week with s&p and nasdaq in the red. >> i'm morgan brennan. let's look at what's driving the action today energy today with goldman raising the year-end forecast for oil. growth names are under pressure with apple and google and microsoft in the red and the durable goods number up this morning th

. >> i'm mike santoli in for wilfred frost. let's look at what's driving the action the nasdaq is on top, among big cap indexes led by a pop in chinese internet names apple is higher as well. that stock hitting a new all-time high. the latest adp report keeping sentiment in check ahead of friday's jobs number payrolls rising by 374s ,000 in august and energy is the weakest sector today. devin energy, marathon and diamondback among today's decliners. 59 minutes left to go. s&p up 0.7%. >> coming up -- online pet retailer chewy is gearing up to report results after the bell. it is up 20% just in the past month. lagging on the year. we'll break down the quarter and latest pet trends with sumit singh. first up, straight to the market mike tracking all the action at the telestrator. and joining us with his outlook is mark mobia. mike, set us up what you are watching in the market kind of a split day. >> yes, definitely split small caps ut o performing started out to be driven by large cap growth still outperforming but the s&p 500 i

. >> i'm michael santoli in for wilfred frost. big cap tech is ticking lower. things like apple, microsoft and nasdaq are weighing on s&p 500 the material sector now down more than 3% on the week and vaccine names are in focus, as an fda advisory panel meets about boosters moderna, pfizer, and j&j, all in the red today. 59 minutes left to go in the trading week >>> coming up on today's show, plenty of questions in this question surrounding those vaccine boosters, and we're going to get some answers. hopefully from the fda this afternoon. dr. anthony fauci will be joining us to talk about the advisory meeting at the fda on boosters plus, senator marsha blackburn's team is talking with the facebook mwhistleblower behind that bombshell facebook report about instagram and facebook's impact on young jusers. senator blackburn will be with us to talk about her new probe into the company and what congress can do about it >>> first, mike tracki ing all h market action. meg terrell has the latest on that fda manual meeting on boosters what are you watching with all 11 se

i'm wilfred frost.ember end with another rough day on wall street averages turning sharply lower as we head into the final hour of trade, sara. >> welcome, everyone i i'm sara eisen uncertainty of the debt ceiling and the infrastructure bill weighing today senator manchin saying this afternoon the most to spend on a reconciliation i

i'm wilfred frost, an up-and-down, dow having its fourth down day in a row. >> i'm courtney reagan inocks took a dip mid session, also weighs on sentiment, a number of fed speakers

. >> i'm wilfred frost a look at what's driving the action today easing fears around china and the taperrally. treasury yields jumping giving a boost to the financial sector. salesforce giving the dow a boost after raising the

i'm wilfred frost at new york stock exchange stocks tumbling as the treasury yields march higher.the hardest down more than 2%. >> welcome, everyone i'm sara eisen. let's look at what's driving the action 10-year treasury yield hitting levels we haven't seen since june weighing on the growth names. the tech names, faang stocks, microsoft, apple lower fed chair powell and

. >> welcome to "closing bell," everyone i'm wilfred frost at new york stock exchange the major averagesh a volatile week but the move in the treasury market getting attention. yields higher again. >> i'm courtney reagan in for sara eisen treasury yields are popping again together with the 10-year up to

betting expected to soar this year contessa brewer has the story for us hi, contessa >> hi there, wilfredy good news for all these companies. they need more sports bettors, because it's a crowded field it shows 45.2 million people say they plan to wager on a game that's a 36% increase from last year in part, the growth fueled by more states permits sports betting. nine more states have legalized sports betting, though it hasn't gone online yell yet. the nfl that is made a huge turnaround over the last couple years, going against a fierce fight against legalized betting, to partnerships with caesars, draftkings, and data providers it's like the wild west out here. >> we know you're covering it closely. contessa brewer. >>> joining us in an exclusive interview a andrew paradise, to talk more about what his company as afoot as we await the nfl kickoff game on thursday andrew, earlier this year, you launched a multiphase partnership with the nfl you kicked off this competition to search for the next great nfl mobile game. where are you in that process? >> we had hundreds of submissions for th

i'm wilfred frost, an up-and-down, dow having its fourth down day in a row. >> i'm courtney reagan in for sara eisen today stocks took a dip mid session, also weighs on sentiment, a number of fed speakers jobless claims coming in, better than expected. and some big individual moves on earning. lululemon and rh soaring we've got 59 minutes left to go in the session. >>> coming up on the show today, commerce secretary gina raimondo making the pitch to back the reconciliation bill. she'll join us. >>> nfl season kicks off tonight on nbc when the buccaneers take on the dallas cowboys. we'll speak with the ceo of draftkings and meg tirrell has the latest on president biden's vaccine push, but mike, start us off with the market. what are we looking like today >> it's still apprehensive, somewhat twitchy tape so far today's low, we had that flurry of selling, brought us back down to about yet morning's low very, very narrow range. before we were ratcheting up this week we've been going downward this would by the fourth straight down day. getting very compressed in there. yields also arguably

i'm wilfred frost along with sara eisen and mike san tolli.h nasdaq down 0.5, the russell down 1.4%, all on the sectors were lower, and energy and financials. coming up, hedge fund manage ser joshua friedman gives his outlook for the market. >>> and u.s. open champ. emma raduncanu joe terranova is here, and misha levine mike, we just had a little bounce toward the end >> yeah, so far. every says we've seen it a bit. earnings, revisions to the up side probably have peaked. so all of these excuses seeing the market trying to gather itself, but also the pattern has been, you know, 3%, 4% pullbacks. these things persist until they break, so joe if they get finally this off to a 5% drawdown, or in fact if we get a break of this 50-day average is that where people have decided to put their buy orders in that's what we don't know. until furse notice, i think you have to assume that that's a likely spot where things might get some traction. >> it seems like warm-up big questions is this -- even reflected in cpi today, going to be temporary has the gro

. >>> tyler, tkelly, thank you i'm wilfred frost. the major averages seeing pressure today the dow in jeopardy of turning in its third straight session of declines i'm morgan brennan in for sarah eisen. the latest read on job openings showed how tight the labor market really is with nearly 11 million open positions meantime, the fed saying in its beige book that sxhk growth has down shifted in light of covid concerns crypto remains in focus. today coinbase is lower on a nigh from the s.e.c. and small caps are getting hit hard down more than a percent. we have 59 minutes left to go in the trading session. wilf >> coming up, wall street heavyweights are weighing in on whether americans should invest in china hedge fund manager kyle bass will join us with his thoughts >>> plus, live nation expects millions of fans at its festivals in the second half of the year but will the delta variant keep customers away we'll have the company's president. >>> let's get to the big stories we're watching mike santoli and seema mody with the latest on

palace were on for their second league win of the season when conor galler had was brought down and wilfredey're just a point behind leaders liverpool. 1-0, going to the 96th minute, _ behind leaders liverpool. 1-0, going to the 96th minute, and _ behind leaders liverpool. 1-0, going to the 96th minute, and you - behind leaders liverpool. 1-0, going to the 96th minute, and you score, | to the 96th minute, and you score, of course _ to the 96th minute, and you score, of course it — to the 96th minute, and you score, of course it feels like a win. it isn't, — of course it feels like a win. it isn't, it's— of course it feels like a win. it isn't, it'sjust a point. but it's a well-earned _ isn't, it'sjust a point. but it's a well—earned point. ithought isn't, it'sjust a point. but it's a well—earned point. i thought it was a tight— well—earned point. i thought it was a tight game. nothing too much in it. i thought we pushed a tight game. nothing too much in it. ithought we pushed in a tight game. nothing too much in it. i thought we pushed in the second — it. i thought we pushed in the second h