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jack: esg funds are having a bad year. is the war in ukraine changing the definition of responsible investing? you know liberty mutual customizes your car insurance, so you only pay for what you need? oh, like how i customized this scarf? wow, first time? check out this backpack i made for marco. oh yeah? well, check out this tux. oh, nice. that'll go perfect with these. dude... those are so fire. [whines] only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪ at xfinity, we live and work in the same neighborhood as you. we're always working to keep you connected to what you love. and now, we're working to bring

jack: esg funds are having a bad year. bad year. is the war liberty mutual customizes your car insurance so you only pay for whatchya... line? need. liberty biberty— cut. liberty... are we married to mutual? only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ ♪ we believe there's an innovator in all of us. ♪ that's why we build technology that makes it possible for every business... and every person... to come to the table and do more incredible things. jack: the premise of esg investing is you can get outsized returns by investing in companies that pay attention to environmental, social and corporate governance issues. energy and defense stocks have been market leaders in tech stocks that have been week. lauren faulk joins us now. thanks for coming on the show. >> good to be with you. jack: the stocks lagged while the stock they avoid have been searching. wise that? >> the war in ukraine, the conflict has pushed up prices for commodities like food and energy. we heard prices were up 8. 5% from a year a

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and look at all the money that's flowing into the esg fund. let's begin with dom chu as stocks turn around this afternoon. they began to turn around right when "power lunch" took the air. >> i'm sure it has nothing to do with "power lunch" and the influence in positivity on the markets overall but the markets seen both sides of the flat line today. it is a muted trade. a jobs friday. for the broader s&p 500 up 18% at the lows down 23 or so or close to a half a percent. from a sector standpoint real estate and consumer staples among the best on the day. industrials, tech and financials are laggards there stock headlines is shares of wynn resorts on the rise after an upgrade citing clarity over the regulations helping others with operations higher the meme stocks are a roller coaster ride remember that pop of gamestop into the regular season after laying the groundwork for a possible stock split the gains are gone it was up around 14% at the highs. now down watching the u.s. listed chinese stock names. all four of those are part of the large cap

isn't that supposedly the central idea behind esg? >> charles, first of all, thank you very much, for having me back on the program. second of all you're absolutely right. we're dealing with a conundrum right now. that on the one hand from a esg perspective we all want a clean environment an a conversion to responsible, renewable energy sources but on the other hand we're dealing with a very difficult situation with the russian genocide in ukraine and the problem is that russia is the third largest energy producer in the world and you've still got developed economy, united states, germany, europe, that are still doing business with russia, buying their energy, their oil, their natural gas and they don't want to introduce the sanctions necessary to create the leverage militarily because they're afraid of the void from an energy standpoint it would create in their economies. charles: right. >> so the solution from our perspective is in all of the above kind of scenario. i think we need to continue along the path of developing responsibl

we'll talk to the ceo of lowe's hotels carl icahn over the pregnant pigs how esg is changing the face of investing. how it is impacting companies and corporate firms and the hard hearted people but not carl. he has a soft spot for the pregnant pigs. >> he does fed chair powell says a half-point hike on the table for the may fed meeting. s&p down 32. nasdaq down 157. but still a decent week. the dow up about 2%. netflix still a big driver why sinking another 4.5% lost two thirds of the value here down 64% another streaming cautionary tale wa warner brothers discovery down anything travel is the bright sp spots. united shares soaring. let's go to phil lebeau for more phil >> reporter: we have heard from four of the six largest airlines and themes are coming true this is across the industry. not like one is outperforming everybody else record numbers from march going into the second quarter for the airlines all of the airlines with a loss for the first quarter. swinging to profitability in the second quarter strong demand they say the demand will stay like this for several quarters and c

is working and what is not working with esg investing. he'll be joined by the global head of strategy halftime back right after this this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. cal: our confident forever plan is possible with a cfp® professional. a cfp® professional can help you build a complete financial plan. visit letsmakeaplan.org to find your cfp® professional. ♪♪ this is elodia. she's a recording artist. 1 of 10 million people that to f comcast has connectedonal. to affordable internet in the last 10 years. and this is emmanuel, a future recording artist, and one of the millions of students we're connecting throughout the next 10. through projectup, comcast is committing $1 billion so

especially around the issues of esg. environment, social and gove governance the portfolio manager leading that charge spoke about the plan and whether this means actually selling stocks of companies that don't meet their goals >> we're not divesting these companies. we like to have a seat at the table and what we're doing is escalating our votes against directors at those companies that aren't disclosing important information for us as investors. first, it is around companies that don't have any diversity on their boards and it is at companies where they are not disclosing what we consider the minimal types of metrics that we need when it comes to climate risk c calstrs made a pledge to net zero we need companies to disclose important metrics. >> i was going to say, x, y, z fake company you will own shares. if they are not giving you disclosures or they don't have 30% of the board as female or if they are failing in other esg metrics, is it launching a proxy attack too strong of a term? >> that may be a bit strong. i th

the esg agenda at the forefront so i think in this instance you have a complete alignment between esg investor interest and where companies believe their customers are in terms of sentiment with regard to russia and absolute disgust at the activities perpetrated by russia against ukraine. but, as you know, there is always that argument that the first duty of a company is to be profitable, to survive and exist. anything that deviates from that and increases costs etc isn't going to help anyone so it is all great, some will say, to have these good intentions but not if those intentions lead you to bankruptcy. sure, and it is important to do the appropriate financial calculations and there will be companies that suffer severe financial losses as a result of having to exit from russia in the wake of the war but at the same time these companies made the calculation and said, what's the cost of remaining? and part of that cost would be the idea of being branded as a putin sympathiser and that might be too high a price to bear. do you that that the russian invasion has fundamentally changed

whatever you may think of esg as a whole, it is is booming money flows into the esg funds more than $70 billion. it is on the rise. the good folks at cowen released a report on esg with stocks they love in fact, there are more than 60 stocks we don't have a five-hour long show we can't hit all 60. we picked six we found most interesting to i got to pick them here is my picks es esg related stocks include calumet products refining company yes. they are transforming a refinery to renewable diesel. cummins. shifting to electric ehicles you need engines evgo the charging station company they are dealing directly with the auto manufacturers in building out charging station plans. itron. they benefit fro utilities. they help software more power around mp materials the mountain pass, mp, california mining company that we have been to twice. they make materials that go into batteries and they are breaking ground on a texas facility shortly. and purecycle tech they turn waste polypropelene into a better chemical there are 57 more names. reach out to them to find out. we thought with thesegment,

the esg. for guys to just talk without fear in this day and age without fear of being judged that is refreshing for me to hear it. i always loved peter thiel >> look, i admire the guy. i like that he has the opportunity to say what he says. as an investor, he is brilliant. as you know, i'm not big into name calling of that's where i come down you can argue the merits without -- we he woul would not this conversaconversation >> andrew, what did you think of the bad orange man you had choice names for him, didn't you >> i think you can go find the tape i don't think so >> okay. all right. you are very nice. >> peter thiel -- >> you are objective and fair and good. >> i think society has gotten to the place where people have to use these injectives and try to -- should anybody be demeaning warren buffett it is a fabulous debate. we have it every day on the show you can do it that is more respectful given how great an investor thil is and buffett >> he is playing to the crowd. >> the toothpaste is

who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. ♪ ♪ nice suits, you guys blend right in. the world needs you back. i'm retired greg, you know this. people are taking financial advice from memes. [baby spits out milk] i'll get my onesies®. ♪ “baby one more time” by britney spears ♪ e*trade now from morgan stanley. it is friday it's time for market action. here's what's coming up. >> when the pendulum swings too far, carter worth explains why the safety of utilities may be getting stretched. >>> in case you haven't heard yet on cnbc. >> the stem cell research starts next week with the numbers. >> but tony zane thinks there is really only one to speak up about. finally,

who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. ♪ ♪ bonnie boon i'm calling you out. everybody be cool, alright? we've got bonnie right here on a video call. we don't take kindly to video calls. oh, in that case just tap to send a message. we don't take kindly to messages neither. in that case how 'bout a ringcentral phone call. we don't take kindly to no... would you can it eugene! let's just hear her out. ha ha ha, i've been needing a new horse. we've got ourselves a deal. ♪ ♪ ♪ ringcentral ♪ this is not the stallion i was imagining. my fellow xfinity customers. ♪ rhi tim.ral ♪ the biggest week in entertainment is almost here. watchathon week presented by xfinity

esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. >>> i am bertha coombs here is what's happening at this hour in your news update president biden spoke at today's funeral for madeleine albright at the national cathedral in washington he called her a truly proud american who was an incredible and c

esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. ♪ >>> that shanghai lockdown drawing more attention to chinese makers of evs. nio, of course, suspending production trying to hike some prices, but shares down about 5% as we are getting some broad based weakness out of the china vehicle sales for the month of march, down ouabt 11%. we will get "stop trading" with jim in a moment. hybrid work is here. it's there. it's everywhere. but for someone to be able to work from here, there has to be someone here making sure everything is safe. secure. consistent. so log in from here. or here. assured that someone is here ready to fix anything. anytime. anywhere. even here. that's because no

♪♪ esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. >>> welcome back to "squawk box. our next guest leads the nation's largest pension fund in the country. here to talk aboutfinding returns in the current market as rates rise and what seems like a comeback joining us now is marcy frost. ceo of calper

charles: i think the esg movement has become dr. frankenstein's monster. no one knows what it is you can't invest in this, can't do that, i things like that added to, for instance gas prices being high, us not being able to drill. i think it is hurting humanity. i thought idea was to help humanity. >> esg is many things. climate impact. tie versety, more representative boards and executive teams. reality is the new generation of retail investors are demanding it. millennial investors, gen-z investors getting $20 trillion transfer of wealth to boomers. it is important to them. charles: phil, you like the evident sg thing. >> we've been using esg to pick stocks for 30 years. good environment, with good social governance over company. this is name manipulated for marketing purposes. buy good companies do good things you will have success environmentally and portfolio. i think it is marketing play. charles: you brought up millenial investors. i read a bunch of high-profile folks, snoop dogg, drake, put money into this thing called moon pay. are you familiar wi

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who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. >>> climbing session highs right now, dow up 181. we are looking at the best levels of the session after we were down 300 at the lows. today's stealth mover, constellation brands the modelo parent near the top of the s&p 500 after earnings and revenue topped estimates beer was a bright spot, the company says distributor inventories have returned to more normal levels, constella

who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. ♪ ♪ ♪ ♪ with a bit more thought we can all do our part to keep plastic out of the ocean. if you're a small business, there are lots of choices when it comes to your internet and technology needs. but when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security. and you choose fiber solutions with speeds up to 10 gigs to the most small businesses. make your business future ready with the network from the most innovative company. get internet and voice for $49.99 a month with a 2-year price guarantee. and ask how to get up to a $650 prepaid card with a qualifying bund

esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> good morning we've got some breaking economic news a key read on inflation and it's coming just 30 minutes away. also energy a huge part of the story. goldman's head of commodity research jeff curry is going to be our special guest plus what, if anything, can or should washington be doing about rising consumer prices we're going to be asking that question to texas congressman kevin brady as the final hour of "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc live from the nasdaq market site in times square i'm joe kernen along with becky quick and andrew ross sorkin and what's happening infla

esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> welcome back the food and agricultural organization is indicating that world food prices has hit a new record, soaring 13% in march joining us to discuss is juniors cheesecake and restaurant owner. great to have you on the show. >> thanks for having me. >> given that we are talking about food inflation and that seems to be on a higher potential trend seeing what is going on in eastern europe, what does that mean for you and your restaurants? >> on the restaurant side we have seen wholesale inflation over the past three months depending, from 4% up to 100% depending on the items on the restaurant front we have moderately raised pr

impact, and also criticizing them for selectively selecting which esg issues are important. i am really curious to get your thoughts on that, whether you think there is an element of that hypocrisy, and certainly the criticism of things like green washing, for example, the tech space is not immune from either. girish: what you say is true. there is a significant amount of green washing happening. but we should also recognize that there are enough companies in the world clearly calling out and moving the esg agenda forward. even in terms of the goals, we will be falling short of achieving sdg goals by 2030. and asia will be lagging behind in that journey. but we recognize that even in companies across the asia-pacific, there is a significant push towards one of the goals. for example, in australia and singapore, we realized there is significant push towards the environment. whereas if you look at thailand and malaysia, there is a significant push toward social all the countries were looking at what are the economic benefits of sustainability. so unless we have some corporatio

francine: esg? karim: yes, when you zoom out the inflows into esg the demand is so big and has continued to grow structurally that i think this is important for the european etf market going forward. francine: that is karim chedid, head of investment for blackrock ishares. more on ukraine next. this is bloomberg. ♪ francine: if welcome back to the open, 23 minutes of heavy european trading day. a bit of a reversal when it comes to european stocks. the next trading .4% lower. -- fedex -- fedex trading .4% lower. -- the da trading .4% lower. delivery hero a german stock predicting profits next year. russia facing further economic isolation as european governments worn off more sanctions after images from bucha showing mass graves with civilian casualties. ukraine is per -- accusing russia of committing war crimes. russia claims they are fake. we are joined by maria tadeo in budapest. the international reaction to the horrible scene out of ukraine, will it change the way that sanctions could be put i

esg is responsible investing. whose resumes on indeed who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. the street." some big oil names are out with earnings this morning, including che chevron. the stock is under a bit of pressure, down about 2%, also some interesting commentary, it's doing its job to, up 10% over the first quarter last year but also keep an eye on exxon mobil, posting weaker than expected results, even after taking a $3.4 billion tax charge related to its operations in russia though shares are also down about half a percent right now, the two companies dragging it is xle a bit lower, but it's still up more than 35% year to date. carl >>> tesla rallying today's trade, as elon musk sells some shares this week, ron, wh

we will continue watching how the esg drive gains traction drought the market and global economies. coming up, thornburg investment management is reducing their alibaba holdings. more market strategies from them coming up. we will look at economic inequality in the light of slowing global growth and covid-19. this is bloomberg. ♪ at xfinity, we live and work in the same neighborhood as you. we're always working to keep you connected to what you love. and now, we're working to bring you the next generation of wifi. it's ultra-fast. faster than a gig. supersonic wifi. only from xfinity. it can power hundreds of devices with three times the bandwidth. so your growing wifi needs will be met. supersonic wifi only from us... xfinity. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >> good morning i am haidi in sydney we are counting down to asia's major market opens. welcome to "bloomberg's daybreak: asia." our top story, japan's inflation can top 1% for the first time since 2018.

stocks tied to the plant-based food craze are sinking this year more on that esg play next on "power lunch." face plant. at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. (laughter and music) vanguard. (bat swinging) the aflac pre-pain show. aflac! ohh, mark is about to become a living piñata. luckily, aflac will help cover his unexpected medical bills. aflac? - (whimpers) i don't think he has any candy in there. am i at least going to get hit hard enough to forget this? nobody is going to forget this, ever. (bat hitting) - ohhhh i'mma call his momma. aflac! aflac! >>> alternative food and beverages billed as better for you and better for the environment, but they haven't been better for investors. go to kate rogers for more on that hi, kate. >> tyler, first look at oakley hitting a new 52-week low just over $4. down 70% over the last six months story line at the company ramping up production, but both expensive and timely guggenhe

hence some of the big stocks, some of the esg, like exxon that we saw but most people feel they want passive, passive, passive, they're not interested in voting where are we >> jim, it's a great question. i think it is, first of all, let's recognize, behind that, is the fact that there are a lot more retail investors even than 18 months ago. last year, up 26%. this year, up in the teens there are a lot more investors the other thing is, the interest in esg is way up environmental social governance. and the environmental social proposals this year up 25% and in the last five years, the level of support for those proposals, it was 5% in 2015, last year, 40% in terms of the aggregate votes, an eight-times increase and win or lose, management cares about the votes. even if they don't win, they take actions so people really, if they have something like that, they really should vote. because win or lose, management cares, and it's easy you can do it right on the app i have, you know, i have it right here and 80% of people get notified digitally. they're only a couple of clicks away from do

from an esg perspective, companies do not want that kind of bad plum the city of doing business with russia because of putin. that is a fact. guy: vladimir putin probably is knows that. what does that mean in terms of his actions elsewhere, particularly on about appeals in ukraine? i spoke to you before the invasion happened, and you were adamant that this would be the direction of travel. you painted a bleak picture then, how do you see it now? tim: the battle of donbass will be critical. they will be a defining winner and loser. it is remarkable when you think about it. february 24, most analysts expected the ukrainians to lose in a matter of hours. the fact that they are still there, have pushed the russians out of the north, they have a chance in this battle. the west has realized the ukrainians need to defeat putin, and if anyone is going to defeat putin for them, it is the ukrainians, so they are escalating in terms of providing more serious equipment, to enable the ukrainians from beating russia. russia will have to probably escalate as well. this is an impossible battle for p

there are so many funds that people started loading up on esg funds that didn't have a great methodology. oil and gas is a necessity and it's like you have to choose from lesser egos rchl you choosing from climate change or others i think you're seeing people jump in. it's still really underweighted in the s&p 500 it's so low. only 4ch of the index. anyone who has that has got to weigh the sector it should help their returns it's a great place to be and i think we're all beyond transitory and inflation, brian. >> yeah. very quickly, the most, one stock? >> absolutely. they're killing it they're only 20% they're giving all their cash back to the shareholders awesome balance sheet. they cover their dividend at about 40e. right now we're expect a huge cash generation for them it's a great place to be. >> the original faang. victoria greene right on the money over a year ago. i hope you appreciate it victoria, have a great day, thank you very much. >> thank you very much for tuning in on "worldwide exchange." by the way, i will see you all, all of you out there, at 11:00 a.m. eastern time to

esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. ♪ i may be close to retirement, but i'm as busy as ever. careful now. - thanks. -you got it. and thanks to voya, i'm confident about my future. -oh dad, the twins are now... -vegan. i know. i got 'em some of those plant burgers. -nice. -yeah. voya provides guidance for the right investments, and helps me be prepared for unexpected events. they make me feel like i've got it all under control. [crowd cheers] because i do. okay, that was awesome. voya. be confident to and through retirement. >>> i have to hand it to our supply chain team and our partners that supply us. fortunately, we don't buy a lot of conventional items because a d

esg is responsible investing. whose resumes on indeed who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. cal: our confident forever plan is possible with a cfp® professional. a cfp® professional can help you build a complete financial plan. visit letsmakeaplan.org to find your cfp® professional. ♪♪ >>> we'll get to a mad dash and opening bell 2:00 from now rivian is not a good performing stock so far this year, jim, to say the least. >> it's a tough day. morgan stanley out they cut the number of cars that'll be produced. deutsche bank is calling for nuclear. i are picked rivian. the analysts are happy with the production you know, you talk about being able to do 25,000 cars now, david, rivian is the favorite of amazon i don't kn

. >> you think uranium in this trade is esg at this point >> i thisty should be. >> guy, you've been watching esg trade, you think it fall maybe not few years ago but back without question new mine seems every day to make new all-time highs the mining sector is absolutely in play. good for bk for pointing it out. i don't know about this yellow and green thing but i'll nod my head in accord with him. >> mike khouw thank you for more options action, not this friday but the following friday, 5:30 eastern. coming up, might not have to worry about the next bag of potato chips, bad news, one company moving its bite today. and we're naming names with power next and april is junior literacy month here's the president of junior achievement usa. >> at junior achievement we believe all schools should be teaching young people about money and savings at very early ages and it builds up. like most other subjects with a stake in school you don't all of a sudden advance to a master class without pennies and dollars. we feel strongly young people need to be exposed at a very early age about nang meym

esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> still to come, richard fisher will join us. check out twitter this morning elon muffing has taken a 9.2% passive stake in the social media platform check it out the stock is up bybo aut 23% this morning we'll have much more in a few minutes "squawk box" will be right back quickbooks can help. an easy way to get paid, pay your staff, and know where your business stands. new business? no problem. success starts with intuit quickbooks. fortitude gold producing high grade low cost gold suin nevada usa. ah gold investment delivering monthly cash, dividends and substantial yield. fortitude gold. ( ♪♪ ) i call it the wheel. okay. th

visit indeed.com/hire esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. ♪ ♪ nice suits, you guys blend right in. the world needs you back. i'm retired greg, you know this. people are taking financial advice from memes. [baby spits out milk] i'll get my onesies®. ♪ “baby one more time” by britney spears ♪ e*trade now from morgan stanley. >>> welcome back to "squawk on the street." union pacific, the largest railroad on the u.s. beating on the tom and bottom lines this morning. thanks to volume growth for the quarter as well. moving between gains and losses this morning, just below the flat line right now. here to discuss union pacific

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who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. girls... the chess club has gained an edge on our bake sales. we need more ways of connecting with customers, fast. i know some consultants with great ideas. can they help us improve our digital experience? absolutely. they've invested over $2 billion in tech. that could really help us manage inventory. and save us a ton of dough. then let's take back our market share. checkmate, chess heads. girls, i said “bedtime”! cal: our confident forever plan is possible with a cfp® professional. a cfp® professional can help you build a complete financial plan. visit letsmakeaplan.org to find your cfp® professional. ♪♪ . >>> welcome

nonsense, not that esg itself is nonsense, but there are now shareholder proposals that have nothing to do with making money that are these governance things, social things. and it is not that they shouldn't be taken seriously, it is that a lot of this stuff could be counter productive and against the true berkshire way that got them this far and created all this wealth around the globe. so we really want to hear i think that they're not going to succumb and start breaking down and doing these things clean energy is a good example this is a company spending more money and time and energy on clean energy solutions than any other utility you could find probably in the world, but definitely in america. they're spending $4 billion on wind power in iowa nobody else is doing that. we don't want to have a situation they have to start doing company level reporting. it is a ton of paperwork, a ton of aggravation, and never green enough to make everybody happy they have hundreds of individual companies under the berkshire umbrella and very few central employees in the home office so we don't w

decided to trouble down on the oppression of the lgbtqia community, and it's completely ignore the esg concerns, which more and more coming to dictate corporate moves in this country. disney is clearly on the right side of this, and they clearly did the right thing, not only to protect their employee base, but their larger corporate environment, including those who him fast in private property. >> okay. why didn't you david, the repeal of this is not going to take effect now until june of 2023. so talk about the timeline here, because that is after desantis has to face an election to hold on to his gubernatorial seat. do you think they are going to remember this on polling day after the headlines wayne? >> it does give governor desantis a current culture war when. it gives, democrats as susan, said the ability to stay on the -- about tax. but this is all plaster on their ultimately going to repeal it next spring. that brings a question though, this is been so public. would florida republicans really wore al-baghdadi decision? we didn't really offer concessions? i don't think so, after

utilities, a 3% yield in keeping with esg feed. and to read more check out this week's addition of barrons.com and happy easter. that is all for us, see you next week on "barron's roundtable". edit" rate thanks for watching and joining us by. >> and the fox studios in new york city, this is maria bartiromo's wall street. >> happy weekend and happy easter. and pass over to welcome to the program that analyzes the week that wasn't helps position you for the week ahead. i am maria bartiromo. the white house plumbing russia corporations not even texas for the record-breaking inflation this week. the who he is planning company and customers. new warnings of their session on the way sooner rather than later. there's no way to avoid it where he is putting his money now. and the credibility of the cdc once again in question as mask mandates on planes are extended and made it rising cases will title 42 at the border is revoked. dr. marty makary on the truth behind this covid threat. first let's take a look back on the top newsmakers on morn

and you have been a ceo -- there are boardrooms around the planet in which the discussion is about esg, environment and social governance. people are concerned about being responsible. the financial sector is going to demand disclosure of risk. people are going to be making risk judgments about the kinds of investments being made. i don't see any politician anywhere in the world undoing what is happening in the private sector today. and that is going to continue. it is going to grow far above what it is today. david: suppose i say to you, i agree with what you are saying, but i am not that able to impact climate change. i am just a capitalist. i want to be an investor. am i going to make money by investing in this climate change economy, or am i going to lose money? mr. kerry: you will be able to make money. it is going to happen. a lot of people are already investing in it and making money. i know people in certain parts of the world who will remain nameless, but they are investor to the tune of millions of dollars in alternative and renewable energy and they are deploying it around t

any reasons, i want to talk about the cost of capital in the influence of esg. president biden's hiking up the cost of capital, weaponizing banking rules like the access rule. doubling down on guidance that would make it more costly to be a bank that lens to fossil fuel industries. democrats over at financial services are helping them proposed or charge rank a surcharge for lending the companies like yours. now you have the delivered actions for democrats that held back to this esg investors, scc that put that sums on the scales under the investments and unreliable green energy instead of reliable oil and gas. this is the same as cc, who's aiding activists investors who want to use a proxy advisory process to force companies out of oil and gas. looks over at exxon, we know that is all about. so my question i want to start with mr. sheffield. my question, i want to start with mr. sheffield. the weaponization of the financial industry has had and will have an impact on investment and world oil production, is that correct? >> that is correct. in the past and in the

considerable pressure on the sector overall bad news in here too for example, and everybody is aware of this, esg, activism and regulatory pressure, this is not the best environment for them overall. even when they did start to make some money, we immediately have some people in washington coming out and, you know, suggesting they're gouging and coming after this, this is after they had massive losses the prior year. exxon in particular is, you know, they reduced their investment in production and their production is declining. you need to make investment in their business f you if you're not doing that, the question is why. if you look at the bulls upside price targets for the space, they're fairly modest. looking at exxon, the average analyst price target is just under 94 bucks a share, the stock is just over 86. that's not a lot of upside and that's from the optimists. i will add one other thing personally i have paired back my positions in the space a bit i think one thing you could do is look at a put calendar. we have an inverted implied volatility term structure. that means the near dated

esg is responsible investing. for a prospectus who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. you might have heard of carvana and that we sell cars online. we believe buying a car should be something that gets you hyped up. and that your new car ought to come with newfound happiness and zero surprises. and all of us will stop at nothing to drive you happy. we'll drive you happy at carvana. pain happens in many forms. but that doesn't scare blue-emu. delivering fast-acting pain relief in a cream, spray, and lidocaine in a soft-foam applicator. blue-emu works fast and you won't stink! an official partner of nascar. >>> elon musk offering to buy 100% of twitter for # $4.20 a share. he tweeted just a few minutes ago i made an of

he was very critical of esg's. he was doing this to strip the crowd probably, say i am on your side with bitcoin, it's great. people at the bitcoin conference love to hear the bitcoin is great. manus: they want to hear $100,000 as well. $500,000 from mike know about, -- i fall into the age category. maybe i should buy some bitcoin. let's get on with it. we're going to see the trends. >> doesn't look eminent. they're having this conference, bitcoin is still stuck on 43,000. got to 48,000 at the end of march. it's been mired in this range. some analysts are saying the on chain doubt it looked good, they are talking about -- smallholders are buying it, as a reserve, you have microstrategy buying. it hasn't quite translated to that higher price yet. the analysts are disconnected from the price action at this point. manus: a couple of running calls for miami could change the narrative. our crypto specialist. that's it for the week. a pretty volatile week. the market still trying to digest what is the momentum from the f

largest investment firm and they're pressuring a lot of corporate boards to fall in line with this esg woke stuff. you know your quick thought on that and influence on our culture. >> i think it is bad and terrible. people on the left throw around the f word fascism. they threw is around with trump well if you look up the definition of that word it is when you have big company and huge control over the country acting as de facto government agent that's what we're seeing whether it's through black rock whether it is through facebook or google. it is a huge, huge threat to this country, and our founders didn't create the constitution with a big loophole that said it is okay when corporations do it to you it is a huge problem that needs to be addressed. dan: i agree when they deputize we get to a first amendment right. shawn davis and federalist thank you. we appreciate it. >> thank you. dan: before we go catch dan bongino show on fox nation here's a clip from this week's show. >> historic business it will be the first supreme court justice who can't come up with a definition for a woman.

you saw retail customers going away elsewhere, and in those famous letters about esg, environmental sustainable and governments, and in this case governance, people didn't want to have l'0ccitane effectively being governance to in russia. from an investor's point of view, has it reached a stage now where if a company starts talking about maintaining its operations or a western company start talking about maintaining its operations, keeping stores openin its operations, keeping stores open in russia, investor start to hear alarm bells ringing, thinking oh, gosh, the consumers will react badly to this, maybe we should take a step back from this company? absolutely and it is fascinating how this has changed because only a few years ago you would have said large institutional investors wouldn't take any notice at all but in this particular case, because it is very, very retail focused, obviously, and reputation is absolutely vital, so investors do look at it and say hang on a second, if you are going to behave like that you will impact on your sales, that will impact on your evaluation, i'm not goi