Transcripts For CNBC Worldwide Exchange 20240714 : vimarsana

CNBC Worldwide Exchange July 14, 2024

Not enough, wall street getting lift from another company. Another shoe drops, facebook regulators set to launch a separate probe Worldwide Exchange begins right now. We always try to play it right down the middle of the road good morning, good afternoon, good evening from wherever in the world you are watching im Brian Sullivan thank you for watching going to capitol hill where sources are telling nbc news that the whistleblower has been declassified and is expected to be released this morning we have more now from washington reporter in a new nbc news tally indicates that a majority of the house of representatives now favor some sort of action in impeachment proceedings of President Trump. President trump returns now after all of this impeachment talk acting director of National Intelligence testifies before the house and Senate Intelligence committees today. He arrived hours after members read the whistleblower report i found the allegations deeply disturbing. I also found them very credible. The complaint reportedly stems from the president s dealing with the leader of ukraine zelensky in which the president asks z zelensky to investigate joe biden. This is about our National Security and democratic elections. The president and allies scoff no push, no pressure, no nothing. All a hoax, folks. From my point of view to impeach any president over a phone call like this would be insane republicans arent totally unified. I read the transcript, it remains troubling. Nobody pushed troubling but is it impeachable. Six in the house are conducting an inquiry what whistleblower report as of yesterday when it was finally released, they were the only ones able to look at it. It looks like the public may get to look at it today as it was declassified late last night thank you so how is what is happening where chris is on capitol hill affecting your Capital Stock futures higher right now the dow jones ups another 65 points the dow and s p both still within 2 of your record highs how many times have we said that lately right now, the bond market as well, we are not seeing a huge move there right around where they were in asia, mixed trade there not a lot of direction there japan up, hong kong up shanghai market is down. Little optimism. All the major averages are higher the uk is up 1 . It is not just what is happening in washington affecting your money. Facing a series of comments to the inside u. S. Consumer yesterday, a Voting Member of the fomc said he is looking for another 25point basis cut i think trade is the biggest issue. I think the global trade war has expanded compared to what people have expected. I think it will take quite a while to get to the agreements the chinese will have incentive to wait out and see what happens. That could come back to bite the u. S. Economy it is not all doom and gloom the food company ceo and kb home ceo have more bullish outlooks Market Conditions remain favorable, Mortgage Rates, steady market growth, positive demographic trends demand is healthy, supply continues to be insufficient to meet needs particularly at the affordable price point where we operate which is a key element of our success we see a consumer that feels perfect ety good snacking is not going in line with all the economic twists and turns. Overall the snacking market, particularly the biscuit market in the u. S. Is growing we do not see any signs that the consumer is affected by all the news. There you go. For the feds, more bullish but the biscuit market is parentally a rocking. How should you read it all as a hold i assume you are not long biscuit calls. Lets focus on the macromarkets. What side would you be on . We feed to cut rates or ceos suggesting things would be good right now . I think im on the ceo side here bullard does bring up good points ed trade war could raise problems Going Forward the inverted yield code, there are others that have consented to the rate cuts retail sales have really been strong job growth has been Strong Industrial production was something i think helped to lead us into this rate cut campaign if you want to call it that. Powell isnt calling it a campaign Industrial Production isnt calling it off the map the two dissenters of the fed. I believe you know Consumer Discretionary may have gotten ahead of itself as a group there is a difference between the economy and the stock market, as we well know. Absolutely. When im looking at sectors whether i like them or not, i look at the valuation, number one, the visible Earnings Growth down the road and how does it look technically you kind of hit the nail on the head there, Consumer Discretionary is a little out of kilter you still like growth over value. When you say international, is that asia, europe or emerging markets . In answering that question, since the fed is still in ratecut mode, we expect the dollar to nudge down here. That would say the big cap growth would do better than the smaller stocks the international space, with most of our clients, we are not getting into country specific or region specific etfs it is more about, you got to have international exposer or a nudging down dollar, it makes sense to wait. Quickly, financials also continue to look good. Even with rates at 1. 7 . They are not quite getting the yield some want, you like it yes our expectations weve had this inverted yield curve. Its a big concern our thought is that it is going to get steeper and help banks and help the financial space rob morgan. Ill let you go, maybe get a nap in i hope jim cramer isnt listening. Maybe hes in green bay. Big game for the birds there in lambeau. Facebook coming under fire again. Now in the crosshairs. Did you also know im an eagles fan from phil here is the question, how are we going to watch the game tonight. Im not morningings tomorrow so i can watch good luck to the birds. This will be the fourth probe in months a group of state attorney generals reports said the Justice Department and ftc had divided up authorities for tech companies. In july, the doj said it was launching a probe of on line platforms without specifying which one. It say it would address concerns about search and social media. Wall street journal is reporting that the ftc is examining facebook situation u. S. Lawmakers have criticized the appearance of what he calls overlapping investigations facebook has declined to comment. Brian, can you see shares are down this morning about. 6 . A busy hour when we come back, if money losing companies and 4,000 treadmills are your thing, we have an ipo for you. And why your next doctors visit may take to you walmart. A highspeed police chase cut short when the cop car just ran out of juice the story youve got to hear who look beyond the spreadsheets to understand companies, from breakroom to boardroom. Who know the only way to get a 360 view is to go around the world to get it. Can i rely on deep research to help make quality Investment Decisions . With capital group, i can. Talk to your advisor or consultant for investment risks and information. Todays big number is 55 million. That is how many peloton workouts were completed this year for the company today, they will make their public debut on the nasdaq more on the health of the ipo. The health of the ipo and the ipo market shares at 29 at the top of the range giving the Company Valuation over 8 billion. They sell premier stationary bikes and treadmills that run between 2,000 to 4,000 each. They have millions of members that shell out 39 a month for live music fuelled classes it is like netflix for the noncouch potatoes. Even those memberships have doubled. The company is losing more than 240 million in the latest fiscal year ending in june as for netflix, there are big costs to develop and market engaging and addictive classes the music is a big part. Peloton is facing 300 million for using thousands of songs without proper licensing that lawsuit filed by Downtown Music publishing john foley will be on. And cnbc Parent Company is an investor in peloton. The music is a big deal ive got one i dont get on as much as i should they say, this is an 80s music ride country or whatever i guess the artists would like to be given some cut they tout themselves as an entertainment company. As it grows more popular, the a artists will want their own cut. Some of their popular instructors have moved on. There are people who do this on their phones what is to say instructors couldnt reproduce that on their own with their own following they become their own stars a couple have left and maybe starting up their own thing there. Start me up. We cant say that, we dont have right. Dont sing it nobody wants that thank you. Still on deck. Hold on to your butts that famous line from jurassic park, holding a clue to the new vocal make over. Why a small italian umplmer with a led foot is helping a Japanese Company beat competition on line ive been a caregiver for 20 years. No two patients are the same. Predicting the next step for them can be challenging. Today were using the ibm cloud to run new analytics tools that help us better predict and plan a patients recovery. Ultimately, its helping thousands of patients return home. Return home. The amount of Student Loan Debt i have im embarrassed to even say i felt like i was going to spend my whole adult life paying this off thanks to sofi, i can see the light at the end of the tunnel as of 12pm today, i am debt free not owing anyone anything is the best feeling in the world, i cannot stop smiling about it homes airlines and health care topping your stocks today kb home, revenue a touch shy of estimates. Investors care more about this net orders rose 24 . Kb home stock up as Mortgage Rates have dropped British Airways owner iag, that stock is down over 2 now. Warning the Company Profit could take a hit after pilot strikes set back the airline which suffered the third major computer failure back in august. Walmart sams club is teaming up with several Health Care Providers in michigan, another carolina will be able to buy packages of dental and vision packages no change there for walmart stock. Coming up, fake news tinder accusing match. Com of using fake Love Interest ads. If you want bottled water on the high ss,ea you cant have it will customers feel blue about this attempt to go green is prevagen. Healthier brain. Better life. Did you know you can save money by using dish soap to clean grease on more than dishes . Try dawn ultra. Dawn is for more than just dishes. With 3x more grease cleaning power per drop, it tackles tough grease on a variety of surfaces. Try dawn ultra. Servicenow put our this changes everything. Youre right sir. Everything. No not everything, i mean youre still blatantly sucking up to me gary. Brilliantly observed, sir. Always three steps ahead. Six steps ahead. Sixteen. So many steps. You done . A million steps ahead. Servicenow. Works for you. Were getting ready dr. For a competition. Our help how do you know my name . We looked through your wallet after we wrestled your pants off. Is this hell . Alright, im gonna help you. Matthew mcconnisnake, youre gonna need to puff out your chest like youre ready to mate. Dont do that. We have a chance to do something amazing and he is a part of that no matter how low, or hated, or despised. Okay, okay. Youve made your point. Thank you. Mhmm welcome back to Worldwide Exchange. Im Frances Rivera with your News Headlines a new death has been linked to a rare illness connected to triple e. Match group is facing new cases accused of using fake Love Interest ads to trick people into buying subscriptions. Many ended up interacting with a examiner acrues line announces a Major Initiative norwegian cruise lines is eliminating all singleuse plastic bottles. They will use paper bottles in partnership with a company just Goods Company owned by will and jaden smith. Big win you still get the water. Appreciate it. Still ahead, could a move to impeach trump be a good move for the stock market the latest on that Steve Sedgwick live on the ground in the ukraine. Reporter brian, look, this country has been in corruption for years. The last thing the new president zelensky needs is to be letis. Led in a new set of u. S. Algaon no surprise that the claims enter on this country. More after the break ay you . Maybe you could free zoltar . Thanks, lady. Taxi only pay for what you need. Liberty. Liberty. Liberty. Liberty. On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Classical Music playing throughout with sofi, get your credit cards right by consolidating your Credit Card Debt into one monthly payment. And get your Interest Rate right. So you can save big. Get a nofee personal loan up to 100k. The whistleblower at the center of impeachment inquiry could be released today. Pelotons public debut is hours away could it be another uber and an electric car fail chips style. The chase cut short due to a lack of juice. That is trending coming up this thursday, september, 26. You are watching Worldwide Exchange. The choice of music, genius i have nothing to do with it when you hear the story, the slow ride will make a lot of sense. 5 31 on the east coast happy thursday the major index is coming off their best day in two weeks. Futures are higher again up 63 right now on the dow the developing story that has captivated everybody sources are telling nbc news that the whistleblower complaint at the center of the house impeachment inquiry has been declassified with minimal redactions and is expected to be released today aim aimon javers in new york and more we might be able to see some of that whistleblower complaint. It is about the president s interaction with the president of the ukraine and whether that was proper i had the opportunity to ask the president if he could explain to the American People why it is appropriate for the president of the United States to ask a foreign leader about information about a political rival. The new president of ukraine is looking to stop corruption. There is a lot of corruption going on i just told him about senators that threatened him with votes and no money coming in that is what people are trying to say i did i didnt do it there was no quid pro quo. The president telling me i didnt do it but not really offering an explanation to the American People about why he believes what he did was appropriate saying what he didnt do was offer a quid pro quo. That was hold back funding in exchange for information i asked why was it appropriate to ask for information of a foreign leader in the first place. That one, he just didnt defend. Through the course of the day, this will be another day dominated by scandal as democrats raced to impeach the president. The president saying he felt the democrats had timed their case to ruin his visit to the u. N we are going to send it over to ukraine Steve Sedgwick is there live with the latest. Steve. Reporter brian, let me take a step back in time to 2014 on my first visit here, i spoke to the World Champion boxer he said, i asked him, why do you want to get involved in politicians. He said because ukraine is seen as the most corrupt country on the planet from the top down, this country is seen as corrupt his goal was to change that image there. The surprise is that he has been embroiled in the u. S. Side that is the last thing he needs. He needs to sort out this country and he needs western money as well. He needs to tread delicately with the biggest power in the u. S. , the United States. He doesnt want to get involved in domestic u. S. Policy. Very delicate for him. We are going to bring in a third voice to tie this up jeff, the lead story on cnbc. Com right now is that investors may be betting even if the impeachment inquiry or impeemt moves forward, investors are optimistic that the stock market could go up a la 1998 when clinton was impeached. Do you buy that . I do. It is simple to see when this announcement came out, the market one down 1 about a day or two after clinton lost here we are with another impeachment. I think the market has become desensitized they are trying to focus on the upcoming trade tensions. I dont know how much Historical Data we can use with clinton it is not the focus. No one is concerned that well see this deepen. If you look at the rest of this presidency, what is it the market is looking for moving forward, it seems that mark elt and for the market perspective, what they were looking to get out of this . Thats a great question one thing not really talked about is the fact that hes been really critical of the federal reserve. Last december, we saw a hawkish fed talking about three hikes. That has helped the dovish stance it helps to see that type of rhetoric the china u. S. Trade deal. I think hes going to push closer to claim thatle victory and some type of trade deal. May

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