If you bought it at four, thats the problem inflation wise, youre not necessarily down with inflation falling. You no he know what im saying youre going to make money because eventually theyre going to come down. Thats what i dont understand f youre telling me right now this isnt a good deal, youre telling me that im going to be able to get the ten year. Im telling you two things. Youll get your principal back and it is part of any diversified portfolio to have a large part in bonds where you know youll get your principal back thats all i can guarantee you. Year. 2 years from now, if rates fall and inflation goes down, wake up at 3 and you lock in higher rates, they always make a mistake in the bond market. Back here is what i was really thinking, i was asking experts about this this morning, we are getting into hazy territory because we are going cross discipline here. Im looking at 4. 4 and im thinking isnt there a 4 rule for 401 k retirement . At what point do we go to the territory where if you put a comfortable position into the 30 year, you can live off of that. There are things about this, and it really does make sense, but at some point we are getting to places dont the other thing you got 430, the 400 make every year on the 10,000 investment now you can get an appetizer. For the big return you can actually get a taxi from downtown to uptown and have a problem. Is mac on 10 grand there are people that say theyre using treasury direct for the first time and they admit im not making a lot of money, but it feels good do you like shrimp cocktail . Would you go for the dessert . That might seem like something youd not be able to afford. We are shedding light on the decline in the s p 500. Scott rubin her or rubbing her, they told limburg that options tied to the s p 500 with a maturity of less than 500 felt the decline by which it drop by 4. 7 in an hour. Thats known as zero days till expiration and forces the marketmakers to buy stocks to keep the books balanced. On tuesday, the cost of the strike place of 44. 40 spike from . 70 to nine dollars in a short span almost 100,000 billion dollars, you had with the initially sold for, citigroup earlier this week shows trading in the zero days expiration contract and it ballooned in popularity with xmis. This is a new thing . Not at all. If you are out of the money on friday you get it at noon say theyre closing at 1 00, they could be closing. And people to decide to do this and they had enough money to move this into the money, if you are 10 points out of the money in a cell program or by program, a 16 can go to 4. It is crickets out there. I dont know if you noticed the same thing, im around, did you think people are taking advantage of the thin volumes its machine trading also. When they have the same opportunity and just go for it . They would say we know our test and, i dont know, we have to ask them. The dog days are already over. What are the dog days . July third to august 11. Why those days . The astrological sign. Thats where dog days of august came from. Even though it is cancer month . I dont need it. Lets get an update on the wildfires in maui. Hawaiian electric is speaking to structuring firms to address the financial and legal challenges according to a wall street journal report that says more customer lawsuits are expected in the coming week. The journal reported that Hawaiian Electric concluded in 2019 that it had to do far more to prevent powerlines from emitteds marks but is done little to address it. Its amazing how much attention is on california with the same problems. Officials are still investigating the cause of the blazes that ravaged historic seaside communities and killed at least 111 people. In the meantime, new york city has band access the tik tok on Government Funds unofficial devices. Visited pose a Security Threat to Technical Networks with limited access the state owned phones with a few exceptions in the Public Relations field for marketing purposes. When you get a state like new york sign this and when is new york going to do it california go to do it . The doesnt seem like they are the ones not banning it . Be like okay its band on government devices, but nothing more galvanizing or flawed in terms of actually getting rid of it . What i can tell is whether its a Security Threat or whether we are actually much more in line with the sort of the sort of theater around our views the drone ports about putting all the inputs into your phone, if you have it on the app, its collecting all the keystrokes. Okay, i could see a problem. Collecting your keystrokes when you are on tiktok, not on everything. Are you sure . Im pretty sure. I believe they are moving this thing over single project houston i wonder if that is something that would actually suffice or if anybody thats been a lot of hoopla and not much substance. The content itself is corrupting youth. Thats what they are talking about. Oh, sure. Im as addicted to reels and stories on instagram you are seeing arent corrupted . How do you know you arent being totally corrupted. Its like sing try fentanyl, you will love it. I dont think the instagram algorithms are that good. The tiktok one is that much better . Thousands of times better but subversive subversive. On instagram its another mommy real and on tiktok it will be dozier they think they are undermining our youth from within. And then theres the Data Collection but there are people that know this is a multiyear plan. Is a sense of all, they are trying to destabilize things. They are smart enough to do that. Im not convinced. The real thing i dont understand is why im an apple fan. If everyone has such a problem with this thing, why isnt apple or google dozier its too popular. You think someone would come to them and say we cant have this. You arent worried about peeing off china . Theres a whole circular issue. Well talk about another story the wall street journal reporting that President Biden will announce metal from germany in canada, they found steelmakers in the official antitrust they make up 44 . New tariffs if you sell a product in one country at one price, you can then sell it at a materially cheaper price. In another country. You dont suddenly like something. Other trying to undermine america . Unrelated. But tariffs in general are a dislocation of you dont like tariffs either week i dont like them. You like the trump tariffs, thats why i didnt like them. But there must be some american makers of tin plate tariffs for tuna cans being harmed by this or presumably they would move ahead with this. Mac this is anybody making tin cans in the United States would be hurt by those dumping in the u. S. I do know that was such an issue. Coming up among the market catalysts, we have earnings, walmart, the full plan is less and we look into ciscos report. Is a the present premarket. You are watching squawk box. Wealthchanging question are you keeping as much of your investment gains as possible . High taxes can erode returns quickly, so you need a taxoptimized portfolio. At creative planning, our Money Managers and specialists Work Together to make sure your portfolio and wealth are managed in a taxefficient manner. Its what you keep that really matters. Why not give your wealth a second look . Book your free meeting today at creativeplanning. Com. Creative planning a richer way to wealth. upbeat music woah. Constant Contact delivers the Marketing Tools your Small Business needs to keep up, excel, and grow. Constant contact. Helping the small stand tall. Nice footwork. Man, youre lucky, watching live sports never used to be this easy. Now you can stream all your games like its nothing. Yes thats what im talking about. [ cheers ] running up and down that field looks tough. Its a pitch. Get way more into what youre into when you stream on the xfinity 10g network. Welcome back on squawk box. We have a lot going on. Will tell you what is on deck. Retail earnings that will not and coach pairing to to report next hour or so. We will keep our eyes on that and we have job claims do at 8 30 a. M. Eastern time. I am back on a thursday. Time to get another round of jobless claims. Lets check out cisco shares, they beat estimates, but full your guidance, and a touch light. Chuck robin said they gained three Percentage Points with the largest that working in the quarter so far. Joining us now, we welcome carrie firestone, chair ceo of Asset Management and cnbc. We talk about cisco. What is there to say . What you think . Cisco is on a come back and thank god for ai, because they can discuss ai a lot. If you need brothers for ai, this is a comedy that had its heyday in the late 1990s and it did nothing for a decade and a half or two decades. So now theyve got a whole new world, and i think Chuck Robbins pointed out on the call which wasnt well understood that the background really is growing and they got a lot of opportunities. Just in ai. Connect the dots a little bit for me, more demand for large, they need more routers. Its the chip plus routing the information. Its so much more. We arent an owner of cisco, but i see the appeal for people that missed the big tech trade, they missed mega caps and some of the heavy movers, it is a place to go. And theyre coming back and it looks pretty good. Decades. Its with ge, market dominance at 600 billion. 200 billion today. If the peak if you look at the 25 your start. What was the little phone . It was a little camera, a flip thing. It was the biggest fad for 2 years. Everyone was going out of their brains about it and they said why were they in this business and they just want to get more data over the internet. Early pioneers. When you used the word server, its ridiculous now, and member it was john chambers, and i would ask him, can i get that in a pastel blue . So what color to the service come in . Pastel blue would look good. Deny server. Right . Im look at ge market now which is 123 so to ciscos credit, oracle charts are similar, if not all just the magnificent seven, some of the old tech names are finding a way to present themselves. Oracle and microsoft. Is the market where if you havent been one is mega accounts, its a problem, but we need more participation, you can just have those leading the market indefinitely. Thats what have to take a pause right now. Nuan on, you are an asset man. You to buy bonds at some point. For diversity. For diversity. For 10 years. Legal 30 years for a portion of your portfolio . We dont have any tenure bonds. Right now we have three months, six months, one year bonds. You have to be kind of stuck with a fixed return. Wouldnt a dividend stock, can be smart find the, that will increase the dividend overtime we the dividend yield is like. But its goes up. Is going up. If a chance of going up 15 per year, it will double in every 45 years. Urine those bonds stuck at 4 . You will get your principal back, but. What if she came on and said we would just talk but the 30 year bond. [ laughter ] i think theres an appeal if you can get 5 guaranteed for a few years, i think thats great. And you stuck 2 years now the stock market that might move away from you and you are reinvested into years. We dont have that much the bonsai. Literally. She worked the whole portfolio and there. It depends on the comfort level. Some people cant handle the tension. The cant handle the bond market or stock market . They cant handle it. Theres people i know who very successfully bought bonds in the 80s and lived off of them for many years and did way better than everybody else out there. The lazy girl job, this is lazy girl job. Reporter by zero bonds at mature far and 200 bucks, the bond market moves and they go from 200 to 350 in a year and im nothing if not. I want to hear more about them. In real life. Heres a question for you, but say you were a little bit cautious on the market like some of us a little bit earlier this year and you recognize weve moved sharply with me. Runs to to sing this now everyone on the street is piling in and bracing price targets. You start doing more, do you look at that and say hey maybe its time to start hedging more . We are actually very positive on the market at the beginning of the year, we thought it was oversold and their buying stock last fall and entered the year pretty heavily invested in the stocks that we own, they moved up. Does that surprise you . No. I dont really think so. If you, we got four and half percent from the alltime peak. That sells, that felt a little rich. We sold from apple a couple months ago. For a while we didnt look smart that trade, you can look at the market and say the stocks of moved 50 the 200 , perhaps we should take some money off the table. If i had no money, what i put it into the tech trade and Communication Services . Would i purchase metaor salesforce this minute . Not necessarily. But that doesnt mean they arent great, but it can pause. 19 times earnings. What you do with new money . Right now, you can get 20 to 5 in the money market. And theres an awful lot of names on the top. If you were to talk about the october load and like the top 10 at least the top. If you said the market was going to do well, how many times a be here about the october load being well, lets think. Ad nausea. One time i think i came on and said all you here if youre watching cnbc or other networks about the market is that its going to go down. There are no other networks [ laughter ] 1213 strategist at the end of the year said thered be a recession and the market was risky and you shouldnt touch it. Market timing is not what i think anyone is good at, but it certainly was a time where stocks were trying to move in there are many stocks down 50 . Is and that what you are supposed to do . It looks very smart market. But like you said with new money. New money, should look at the money market. You have plenty of time, by stocks, by dividends dose looking for the lazy girl investment. We appreciate your. Coming up on the other side of this, Fall Travel Trends to watch, will get some Realtime Data hopper with bargain vacation out there in the destination with a premium. Cisco ceo Chuck Robbins will be on the street in the 9 a. M. Hour. Thats an interview you dont want to miss. We will be right back. What if buildings could tell you how they could be more efficient . Im listening. Well, with ibm, you can use software to help you connect and analyze data from hvacs to elevators to lights. What if we use aidriven insights to pinpoint inefficiency . Yep. And act on it. Saving energy, money. And emissions. Yup. Thats a big one. Now youve built Something Better for everyone. Thats the sustainability solution ibm and a Global Real EstateCompany Created. What will you create . Ibm. Lets create. This is dr. Arnold t. Petsworth, hes the owner of petsworth vetworld. Business was steady, but then an influx of new fourlegged friends changed everything. Dr. Petsworth welcomed these new patients. The only problem . More appointments meant he needed more space. Thats when dr. Petsworth turned to his American Express business card, which offers flexible spending limits that adapt with his business. He used his card to furnish a new exam room, and everyone was happy. Built for dr. Petsworth business. Built for your business. Amex business. Fly to paris. See the tower. Smaller than you expected. Wait in line. See the mona lisa. Smaller than you expected. Check in. See your room. Bigger than you expected. Join one key, where gold and platinum members get travel perks, like room upgrades. fan 1 there ya go thats what im talkin about join one key, where gold and platinum josh allen is this your plan to watch the game today . hero fan uh, yea. I have to watch my neighbors nfl sunday ticket. josh allen its not your best plan. But you know what is . Myplan from verizon. Switch now and theyll give you nfl sunday ticket from youtubetv, on them. hero fan this plan is amazing josh allen another amazing plan, backing away from here very slowly. fan 1 that was josh allen. fan 2 mmhm. vo for a limited time get nfl sunday ticket from youtubetv on us. A 449 value. Plus, get a free Samsung Galaxy z flip5. Only on verizon. Welcome back, talking travel trends. Domestic travel is going down finally, but lower prices wont last that long. As for international trends, fares to europe remain 11 higher than a year ago, but if you are looking for a bargain, tickets to cancun average 270 and joining us to talk about it is the hopper lead economist. Good morning to you. I got to tell you, the air fare still feels high to me. Every time im online trying to find a seat on something even domestically, it doesnt feel like it is really coming down to the extent it is, which is what youre saying the data suggests, how long will this be and how long are we talking about . We are seeing airfares dip to most regions of the world, domestic, international, short and long calls, mostly because of the demand that we see every year after the summer, travelers are hot on spring break vacation and summer vacation, but most of us go back to work and school at the end of august. September and october is not very popular. It incentivizes hotels and airlines to drop prices and we expect prices to remain low for the next eight weeks. Are we talking week over week or year over year . Meaning what was it like in the shoulder season last year . Prices for domestic are lower than prices these last year and compared to 2019, so domestic prices for the next two months will be the lowest theyve been in about 4 to 5 years now the International Flights as he said flights to europe and asia, still more expensive than last year but dropped relative to peaks in july. And is your sense of that continue . Talk about thanksgiving when families run the country try to get together christmas time for family and domestic travel, families going to big vacations internationally. Relative to prices today, airfare for thanks giving and christmas and end of year trends will be higher, but we expect them to remain in line with or slightly below 2019 levels. Surprises will be advantageous for domestic travelers to the end of the year. International travelers, prices will remain high and they are cooling to europe which is great news because they are 20 higher to last year. Airfare to asia is a different stor