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rough week for the s&p and the nasdaq. elon musk has been trying to get a pulse of the people with his polls on twitter. we've seen these polls over and over but new research shows they are easily manipulated. mayor eric adams said basic services for new yorkers are cut to deal with the surges of migrants coming to the big apple. that didn't stop new york state lawmakers from gifting themselves her record payraise. jason rantz is fired up and will take this on after this. ♪ a must in your medicine cabinet! less sick days! cold coming on? zicam is the number one cold shortening brand! highly recommend it! zifans love zicam's unique zinc formula. it shortens colds! zicam. zinc that cold! it's official, america. xfinity mobile is the fastest mobile service. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. that means you could save hundreds a year over t-mobile, at&t and verizon. the fastest mobile service and major savings? can't argue with the facts. no wonder xfini

nasdaq 100 paring most of its losses to close down .4%. under four horns -- underperformance and ship names, the nasdaq golden dragon index closing up 5.4%. the highest levels of symptom -- since september, the story that we might be seeing some easing in china that might be supportive of the economy. yields rate big story on the hot jobs print, but it reversed by the time we were finished on friday afternoon. in terms of individual names of some of the megacap's hardest hit by the jobs report. leading declines on the nasdaq 100. the broader story, they paired those declines. the worst performer, the nasdaq 100 zscaler down 10%, the forecast is tepid, how often is that the story? the story of the day, jobs, jobs, and more jobs. let's get into all of this and recap the data. a brutal week for layoffs across the technology industry. here is katie. what was your read on the print we got friday morning? >> 8:30 a.m. eastern is a long time ago. let's go through the numbers. 206 2000 jobs added last month -- 260 thousand jobs as a. last month ch

nasdaq higher by 73. in the bond market, 10-year treasury is drifting slightly lower to 3.75% the 2-year treasury drifting higher to 4.34%. to the top stories with silvana henao. good morning, silvana. >>> dom, good morning. airlines have canceled 17,000 flights since wednesday after dealing with bitter cold and high winds and snow. many problems have eased, but not for southwest. the airline canceled more than 70% of the flights yesterday and ceo bob jordan says southwest plans to operate one third of the schedule the next couple days to get back on track. an momong the reasons for the problems is bad local weather. they have a staffing shortage in denver and crew scheduling system overwhelmed and left workers in the wrong places. >>> a new report finds holiday sales rose 6% this year. that is a smaller increase from the prior year, but still ahead of estimates the number comes from mastercard spending polls which tracks payments, including cash and debit cards. >>> and zach bryan dropped a live album ca

what's interesting about the nasdaq and i do want to point this out here, the nasdaq has crossed the unchanged line today alone 51 times so a lot of indecisiveness here. if you look on the year, the dow is the very worst, down 9% followed by the s&p which is down 20% and then sort of the avert your eyes or you'll turn into stone nasdaq, down 34% what is surprising is that the markets aren't up more than you would expect right now at least on today's session in light of the fact that the federal reserve's favorite inflation gauge for november rose at its slowest pace in 13 months. we've got the number this morning. the core pce which is the personal consumption expenditure and then, the rise of 4.7% year-over-year. the problem there shows that the demand is not cooling enough to discourage the fed from hiking interest rates well into 2023 and the feds been clear, don't expect a pause or a pivot before 2024, so with an unforgettable year for the bulls nearly in the history books, how deep into 2023 will the bears continue to show their clues? to the floor show joining me now , keith fi

nasdaq taking it hard down 187 points. that a 13/4 of 1% loss on the tech heavy nasdaq, the 10 year treasury is up but not that much, one basis point. there are other factors weighing on tech. oil is up less then one% but that is a $0.64 rise to $78.90 a barrel. bitcoin trading in that range, a little down by $11, sixteen thousand six hundred seventy two. this just in from fox news on that spending package. the senate has set up a tentative agreement to finish the omnibus spending bill by midday or early afternoon, the senate has agreed to vote on 14 amendments, most dealing with border issues before going to final passage. the results are in on elon musk's twitter paul about the $1.7 trillion spending bill. we should mention this is not a scientific poll but it is an important poll. >> he asked should congress approve this omnibus, 70 one% said no. then he added railroading through this giant spending bill but almost no one has read is unlikely to be in the best interests of the people. that was a quote, here's another, s

the nasdaq down 8.5% overall, look at the moves we have seen with the s&p down 19%. that's the year. this is adding to the 2022 losses all three are on pace with the worst yearly performances since the great financial crisis in 2008 barring today's moves, dow shedding 8.5% and nasdaq down 33%. if you check on the bond market, they are ticking higher. 10-year treasury is 3.85%. 2-year treasury below 4.4% the 30-year treasury is 3.93% right now. in energy, oil prices have seen near term upside thanks to the china reopening. pessimism is coming back with the covid cases in the secont e. wti crude prices are down 57 cents. 77.84% .50% decline for ice brent nat gas prices down $4.53 right now. in cryptocurrency, it has been around the 16,000 mark we're still there. bitcoin is down to $16,511 ethereum below $1,200. let's get a check of asia and european markets for 2022. we turn to julianna tatelbaum who is in london with the latest hi, julianna >>> dom, good morning. happy almost new year to you i'm kicking off the asian market which has turned to china the last couple we

the nasdaq back up almost a percent in itself. tesla's a lagger, but consumer discretionary has gone positive now. to small caps are having a good day up more than 1%. look at tesla, continuing to fall, down 6%. wall street is buzzing about whether elon musk is now hurting the ev maker's brand by what he's doing on twitter. check out today's top searched tickers on cnbc.com. there's tesla on there not surprising, it's a sell-off for a lot of the ev makers, rivian pulling its deal with merced mercedes-benz, getting bad news there, 6%, and crude oil bouncing up more than 3%, down more than 10% last week. ndcrosoft with a deal with the loon stock exchange rounds out the top five n a long road, but now i'm working for schwab. i love to help people understand the world through their lens and invest accordingly. you can call us christmas eve at four o'clock in the morning. we're gonna always make sure that you have all of the financial tools and support to secure your financial future. that means a lot for my community and for every com

the dow is up in pre-market activity by 345 and the nasdaq is up as well by 58. that's a half a percentage point gain, and here is the good news for millions of travelers hitting the road this week. gas prices are at $3.10 a gallon that's down $0.56 in the last month but here is the bad news. a christmas week blizzard could turn into a bomb cyclone. we're going to tell you about a travel nightmare that could impact millions of people. it is wednesday, december 21. the shortest day of the year, 2022 "varney" & company about to begin. ♪ this is my fight song, take back my life song ♪ david: a little preview shot there, let's start with this though, ukraine's president zelenskyy is set to meet with president biden and address congress in-person today. good morning, lauren. good to see you. lauren: good morning. david: is this more about aid? lauren: that might not be the official answer but read between the lines it's his first trip since the invasion by russia. it's a big, big moment as lawmakers here debate the $45 billion, look here, additional aid for ukrain

what's the big leader today, it's the nasdaq. by the way, 38.55 on the s&p, that would be the highest close in two weeks since the middle of december so, again, keeping with the theme, turn the market upside down, what has hit new lows? what major big cap stocks have hit new lows this week, tesla, disney, apple, paypal, ford. what's leading the s&p 500 today on the upside, tesla, disney, apple, paypal, ford. don't you like it when this happens? herd mentality is not dead on wall street. also, let's flip that around what has been the leadership groups all throughout the month? largely, pharmaceutical stocks like merck hitting new highs and consumer staple stocks like campbell's, kellogg's, hershey has all outperformed ways underperforming, kellogg's, hershey, and merck again, herd mentality on wall street a lot of people say the santa claus rally is dead. as of now, the santa claus rally is very much alive remember the santa claus rally is the last five trading days of the year and the first two of the new year it's seven days. we

nasdaq dow nasdaq up 79 as we await november ppi, next week's data final federal reserve meeting december 13, 14, central bank expected to raise rates another 50 basis points, of course, a consumer price index tuesday after price producer index today wells fargo head of global market strategy paul christopher great to see you. thanks so much for being here pretty good rally in the markets lastly two months do you think that rally have a has legs into year-end would you buy into it going into 2023? >> ho thanks maria great question good morning to everyone no, we would not we buying into this right now. the fed is -- is going to raise rates 50 basis points next week consensus not decided how long the fed is going to hold rates ema visited levels we think signals by the end of the year going to hold rates as long as it needs to that is going to be a disappointment, so, too soon buy cycles here what are you expecting in terms of 2023, and macrostory. >> rate hikes or inflation, that slow this economy more than right now so, earnings estimates for o '23 around 235, s&p too high to us one way

the s&p 500 down just over 1%, the nasdaq the same. and the major averages are preparing to close out their worst year since 2008. the dow heading for an annual loss of 9%, the s&p 500 sinking 20.1%, and the nasdaq, i mean look at that, by far the worst performing index down 33, almost 0.8%. let's dissect some of the individual names for a moment to see what's driving those substantial losses, the worst performing stocks on the dow getting cut in half this year. intel down 49%, sales force down just over 48% and disney; right, bob iger coming in at the last moment and earnings coming up and we'll really be focusing on profit, maybe not subscribers with streaming and they're down almost 45% for the year and look at s&p 500. generac, tesla and meta and generac down more than 71% right now and tesla and meta both down roughly 65% for the year and meta cut 13% of their staff back in november taking heavy losses on their meta verse bet. they're having their worst year on record and biggest losers on the nasdaq, take a look at ev makers, riv

the nasdaq up by 19. s&p up by 9. that is decent after the wild section for stocks yesterday the dow plunged almost 800 points at one point before ending the day lower the major averages in the red for the month and one week away from snapping a two-month winning streak the dow and s&p and nasdaq down anywhere from 4.5% to t8.5% in the bond market, the 10-year treasury is a hair below 3.7%. 2-year treasury at 4.281%. the 30-year treasury is 3.86%. and u.s. benchmark wti prices 79$7 $79.17 similar for ice brent crude. $82.66 up $1.68. >>> let's check on the top stories. we have pippa stevens with those. >> dom, more than $1.6 trillion bill to fund the federal government clearing the senate lawmakers in the chamber voting 69-29 to approve the package yesterday. it heads to the house which is expected to vote and pass on the measure today before the midnight deadline. >>> tesla is being investigated over crashes with the vehicles the national highway traffic safety administration is looking at the driver assistant system

nasdaq up 66 >>> to the bizarre story of the day. congress member-elect george santos admitting to the falsehoods in the background and education and history and properties representing parts of long island and queens. he said the sins are embellishing his resume. he lied about graduating from college and claims of working for citigroup and goldman sachs. i'm surprised he didn't day he came on "squawk box. he doesn't own a portfolio of 14 properties he plans to take the oath of office and join the house majority on january 3rd. kayla tausche is co-hosting. you are miss washington. what do you make of this >> unless you have a referendum, now this information has come out, and give voters a say if they care about this or whether they like his personality. >> is there nothing -- he says this isn't criminal. is there nothing illegal about complete -- this is making up -- this is like rewriting your entire history and public basis their vote on history which is a lie. is there no law? >> i'm not a lawyer. my husband, who is, doesn't like

we are live from the nasdaq market site from times square. if you look at the futures, you will see green this was mesissing yesterday dow futures up by 71. >>> and the energy outlook for 2023 depends on three people china, russia and the fed. we have matt from kepler with us i want to start off with xi jinping. the ripping the band-aid off the zero covid policy in china is the recent development how do you see this? the opening is slower with so much covid going on and the lockdowns have not been off to the races. in the long run, it should be inflat infl infl infl inflati infl inflationary for oil >> it will not be an easy recovery there will be speed bumps. in terms of the next few weeks, you know, you essentially are having covid ripping through 1.4 billion people you have lunar new year happening and there will not be a stronger rebound. that said as we move into q2, you will see herd immunity elsewhere in the world with jay powell there, you have the lack impact of interest rate hikes not only in the u.s., but europe as well, which will

equities and nasdaq and growth stocks benefit from the dovish fed nasdaq in particular will benefit. if that goes up, bitcoin will go up it is lumped in that category. dovish fed for many believe that will equal better bitcoin performance over the coming months >> i thought it was supposed to be an inflation hedge. here we are are coming off the biggest spike in inflation in 40 years and bitcoin did not perform. >> there is still a bit of risk. not a little bit, but a lot of risk in the market contagion story is not over yet. we see daily issues with the crypto companies kraken laid off 30% of work force. over 1,000 people. that is huge you will continue to see more and more layoffs as the crypto winter continues it will get deeper a lot of analysts are looking at the down side level of the. >> i have spoken to a lot of people retail investors who did not know a lot about crypto, but it was exciting and put a big chunk of savings and a lot of people lost a substantial portion of their money. for people sitting on losses, it is difficult to see where the next leg up is going to come f

markets finishing the day at session lows the nasdaq losing 4 % this week. that'll do it for the "clayman countdown." liz is back on monday. kudlow is next. >> [closing bell larry: hello

s&p up six, the nasdaq up just three points. the blue chips, we're keeping a close eye on nike, ahead of its fiscal second quarter report after the bell. now, nike shares are throwing air balls over the past five sessions. even though the name behind $200 sneakers just got a huge indication from jpmorgan that it might beat wall street $0.64 a share expectation for after the bell numbers jpmorgan is calling for $0.70 which is still markedly below the year ago earnings of $0.83 right now. nike pairing back by two-thirds of a percent but wall street's really on edge of its seat for fedex earnings after the bell. the shipper is widely seen as a proxy for consumer spending, and fedex already pulled its forecast back on september 16 due to what it said was a dramatic global demand slowdown. it dropped 21% that day. analysts are already covering their eyes. they expect eps to fall 42% year-over-year ahead of the report fedex is falling down one and one-third percent. let's look at the s&p if we can it's up just about four points at the

the dow up 202 points, the nasdaq in the red. this year was filled with big tech censorship across many platforms. grady trimble joins me now. take us through the biggest ones and more importantly, what happens from here. >> paypal joins the list of big tech companies accused of centering conservatives. the payment processor allegedly temporarily suspended certain accounts based on content. >> the payment processors will say we are not going to process payments for you and that means as a practical matter whether you are a business or nonprofit, in december your big fundraising time, that is life or death for you. you will not survive. >> although this year go fund they blocked a fundraiser for the freedom convoy truckers protesting covid mandate in canada and the republican national committee, the rnc is suing google for syndicates emails to spam in gmail. looking at 2023, it could be the year big tech companies lose some of the protections that allow them to be the arbiters of speech with few legal consequences. two cases befor

but first check out the top ga gainers on the nasdaq 100. "techcheck" back in two minutes. thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. get refunds.com powered by innovation refunds can help your business get a payroll tax refund, even if you got ppp and it only takes eight minutes to qualify. i went on their website, uploaded everything, and i was blown away by what they could do. getrefunds.com has helped businesses get over a billion dollars and we can help your business too. qualify your business for a big refund in eight minutes. go to getrefunds.com to get started. powered by innovation refunds. >>> time now for g

both s&p and nasdaq are now in the green. this action is particularly riveting after yesterday's smashing performance, right here , during this hour, right? with the dow, a gain of 737 points, which hauled it out of its bear market. the blue chips as i said down just about half a percent but good deal of the red paint 90 points of it coming courtesy of salesforce. this is the biggest laggard on the dow jones industrials not because it's blew its earnings report last night, because it didn't but for the second time in two and a half years the customer relations software giant has seen a co-ceo walk right out the door after less than two years at the helm. the stunner came after the bell, brett taylor who just got elevated to the role in november in 2021 is leaving to return to his entrepreneurial roots. the surprise move leaves sales force founder mark bennioff alone at the top of the enterprise cloud company to deal with a stock that crater ed 43% this year, and it is down about 8.5% right now. not even the lows of the sessio

only the nasdaq isn't. but it's close why is any of that important no matter how much the chairman protests it seems equities are paying attention but certainly not the treasury complex. back to you, kelly >> all right, rick, thank you. rick santelli. oil is also grabbing the headlines with its deep slide into the red it's back below $75 a barrel today. it's negative on the year after everything that's happened let's get to pippa stevens for the very latest. pippa? >> hey, kelly, oil is tumbling today with wti falling to its lowest level of the year now, macro headwinds are driving the action, with traders worried about a slowdown in global demand that's counteracting the positives of the eu russian oil ban as well as the $60 price cap. u.s. oil hitting a low today of $73.41 although it is closing slightly above that level currently at 74.23 for a loss of 3 1/2% brent crude right around 79.44, a loss of 4% now, gasoline futures and heating oil also down sharply with rbob now in the red 420.22. we are also w

nasdaq down .75% the small caps, 1.5% declines, ten-year benchmark drifting higher to 3.58%. here's a look at the biggest nasdaq 100, laggers, those decliners today and lastly, splunk, airbnb, metashare platforms. today's show, rockefeller's ruchir sharma, a warning for private markets, saying they're more vulnerable in this tight money era, he'll join us to explain why. >>> plus, meta's mounting headaches, regulatory issues surrounding the company, diving into those incoming new objections from the european union and mounting pressures from our own regulators. >>> begin with the market as well mike santoli is joining us with the dashboard. what are you watching as things lose metropolitan umm in this final hour of trading? >> dom, i mean, unfortunately some familiar levels getting retouched. we hadn't been down this low in close to six weeks i mean, to keep it simple story story is that a downtrend is in place until proven otherwise the rally off of that october low did not prove otherwise, right, it stopped right where it would have been gaining the benefit of the doubt if

nasdaq down by 30. the year to date and this is one year to put in the books if you are active in the markets. dow down 8.6%. s&p down 19.2% the nasdaq down 33%. these are the worst declines we have seen for major averages since 2008 you remember 2008. we are hoping for better returns next year. for this year, the drag on the dow for the year is intel down 49%. followed by salesforce down 48%. you have disney down 4%. 3m off 32% nike down 30%. there were bright spots. chevron up 52% because of higher oil prices that sparked record profits for the major oil companies. other big dow gainers are merck and caterpillar. in europe, stoxx 600 is down 12% since the turn of the year chinese stocks have been hit hard hang seng and shanghai composite down each 15%. the qi zhen ashenzhen is down 2% if you look at treasury yields, the 10-year treasury picked up from where we were at the beginning of the year. 3.85%. 2-year treasury at 4.4%. >>> southwest airlines now saying it expects to operate normal schedule star

i'm really worried about the nasdaq, nasdaq 100. that is the risk appetite indices that can never get going while the dow moves higher. beware first quarter. charles: i think the word of the year may end up being patience for sure. >> big time. charles: gary, shah, appreciate it as always. bring in macro compass founder alfonso peck can tele. al, talking about monumental shift he said only happened three times in his 50 plus year career. i read your writing, particularly tweets and some of the reports you put out and it sounds very similar to the macro backdrop you're seeing, you've been warning about. will it be as severe? do you see the severity in your work as it seems marks is describing in his? >> charles, let me give you an example, we had the homebuilders update in the u.s., it printed again for the 12th straight month at a new low. now if i try to look where unemployment rate follows 12 months after the homebuilders index plunges that much, the rate has to go up 7% by next year. let me put that into context when looking at s

and the nasdaq up about 14 points. treasury yields right now, the ten-year note sitting at about 3.807% >>> southwest airlines ceo bob jordan apologized for the travel chaos this week. they said mass disruptions will continue in the coming days. according to flightaware, southwest has already canceled 2,500 flights this morning that's about 62% of its schedule the biden administration is considering imposing new covid rules for travelers from china because of the sharp rise in cases there, and the lack of transparent data being reported from beijing officials pointed to new rules in japan and malaysia that require negative covid tests for arrivals from mainland china you heard dr. scott gottlieb say that's the only way we can get the data there are new restrictions, including a rule for inbound travelers to take a pcr test the city is eliminating social distancing, but keeping a mask mandate in place while some changes take place in early january, the hong kong restrictions will be lifted tomorrow. >>> let's look at pr

nasdaq was down 160. joining me right now is laffer tangler investment ceo and chief investment officer, nancy tengler. great to see you. what kind of market are you expecting in 2023 and what do you do if we do have a year end rally in the last two weeks of the year. >> let's hope, maria. thanks so much for having me. on the ground in arizona, the border is wide open. in terms of the market -- maria: thank you for that. >> volatility has been pretty breathtaking this year and we expect they that to continue into q1. but i will say that i think one of the things that investors need to start thinking about is what can go right in 2023. the fed has been behind the curve all the way through and yet we continue to quote them with certainity that they're going to continue to raise rates but let's remember that the dot plot in september of 2021 indicated they weren't going to get to 2% until 2024 at the fed funds rate so i think what the market has been battling with is that many of us seem to think -- do think

again very little price movement dow down 30 nasdaq up 8. we'll be back. ♪ ♪ the first-ever all-electric chevy equinox ev. up to 300 miles of range on a full charge. and a starting price around $30,000. evs for everyone, everywhere. chevrolet. researchers believe the first person to live to 150 has already been born. it could be you! wow. really? of course, you'll have to eat your greens, watch your stress, wear sunscreen... but to live to 150, we're developing solutions that help doctors listen to your heartbeat while they're miles away, or ai that knows what your body will do before you do. cool. introducing elevance health. where health can go. stuart: okay, quick check of futures not that much price movement so far. david bahnsen joins us this morning. all right, david, i'm sure you've seen the news. taiwan semiconductor tripling its investment in chip manufacturing in america, spending 40 billion. president biden's going to arizona to push this plan. my question to you is, david, does this help intel? i know you've liked intel as a

the nasdaq down 11/3, the s&p, down one quarter of one%. let's one 12:45%. let's bring in scott shelladdy. we are in the final week of trading for this year. do we get a santa claus rally? does it mean anything at this point? >> i don't think it means anything. we could talk about it and it would be nice to see but earnings that slap us in the face and the beginning of january. i will say this. all the things that plague us this year none of them have been installed, russia ukraine, china taiwan, our inflation problem. everything is still on the table. we are walking into next year with a load of baggage, the biggest bag we have on our shoulders is that we have a discrepancy in jobs and i am watching jobs because that is the last thing to fall. if we get the bls, we've created 1.2 million jobs versus philly fed saying 10,000, that is a problem especially when you have the fed saying they have to see the 3.7% on one rate rise because that is what they have to do to get this inflation issue down. johns hopkins said -- ashley: go ahead. >> if we want to get bac

dow up about 100 and nasdaq about 50. then we have elon musk. he continues to be the target of new investigations following his takeover of twitter. hillary vaughn is with us. what is he being investigated for now, hillary? >> several different things, stuart. one of them being the insulation of beds at -- installation of beds at twitter headquarters and he continues to publish internal documents that led to takedown content on twitter like the hunter biden censor story and jack dorsey said get it all out there. if the goal is to build transparency with trust and do it without a felter and let all judge for themselves around all discussions with current and future actions making everything public now. musk replaying he will. saying "most important data was hidden from you too and some may have been deleted but everything we find will be released". as mussing tries to build back -- musk tries to build back user trust in twitter as a free speech platform, he's being buried with a number of legal probes into his businesses. musk's upgrade to twitte

we are down 30% in the nasdaq alone. i think it is time to start to nibble a bit that is what i have been doing >> we used to watch triple witching we haven't seen it much recently we are talking about it again today with the few options expiring i don't remember the last time it caused a significant move because of position squaring or whatever the unwinding has done in the past. is there a possibility today that could surprise us in terms of the effect in how deep it could be could we have a big selloff based on options expiration today? >> i mean, it is entirely possible it is an excuse because people are nervous. how many people come on tv and talking about all this gloom and doom this certainly could be an ugly day. i think you have to just take a little bit longer term perspective and look at your favorite best in class, blue chip company and strong balance sheets and good dividends and cash flow. i know it doesn't feel good right now. it doesn't feel good ev everything i bought the last couple of weeks is down. at

nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. >>> welcome back, everybody. we're just off session lows. the dow is down 520 points add another 1.5% to the deep sell-off we've already seen this week and here's a check on the megacap names. all on pace for a losing week and firmly in the red for december for instance, microsoft, down another 2% today over the past six months, apple, in fact, is the only one of the major guys hanging on to a 3% gain meanwhile, adobe is leading the s&p and the nasdaq, up 3% after an earnings beat last night, maintaining its forecast for the year the shares are up about 3.5% the stock is down 40% since january. even adobe is having its worst year since 2008. and tesla is back in the red after being one of the few stocks to close higher yesterday. tesla is down 15% since monday its close to its worst week since the depths of the pandemic in march of 2020 it's down 4% to 151 today. let's get over to steve kovach in a cnbc news update. >>> in an instagram post, brittney griner says sh

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nasdaq off 36. this is after a week where you did see the stock market move a little higher. dow has been down for three of four sessions. moving higher than las

live from the nasdaq market site in times square. i'm rebecca quick along with joe kernen andrew is off. let's look at the dow in positive territory it is up 25 points s&p is down by over 3 points nasdaq down close to 20 points this comes after losses for all three major averages s&p is getting closer and closer to the

the nasdaq down almost 2.7%. that's going to do it for us on "squawk on the street. time to hand it over to "techcheck." >>> good thursday morning. i'm carl quintanilla with deirdre bosa and jon fortt today, stocks under pressure following that 50-point basis rate hike by the fed >>> elon musk sells another chunk of tesla, one firm says now is the time to buy we'll talk to the oppenheimer analyst who names it a top pick. >>> and can chips be key growth drivers in this market amd, nvidia and marvell are top picks. we'll begin with markets moving lower. our next guest sees a recession on the horizon and doesn't think the economy can keep up. joining us this morning is sven hendrick great to have you. >> great to be with you. >> so, i know for a moment there there was a period where you were beginning to think about being more constructive. is that gone again now >> we were constructive in october. the technicals told us that the rally was coming in on the s&p, and we got that this week. i'm still kind of constructive, you know, we're entering a positive seasonality per

pull up the nasdaq. worst december in history down about 11% but you say, gary, there is nothing stopping the nasdaq from taking another leg down. gary, can it bleed anymore? >> yeah, new yearly lows beget new yearly lows. add in apple which is 12% of nasdaq 100, worst possible list you can be on new yearly lows. combined with other names. you mentioned tesla. we can also talk about adobe, amazon, oracle, qualcomm, microsoft, netflix. they're all in pretty much bear markets and deep bear markets. so i think there is more to go. if we break the 10,000 nasdaq, i think institutions will recognize it. i think they're still overinvested in these areas. i think we can have a pretty interesting first quarter to the downside unfortunately. >> what about the second quarter? >> i wish i knew. lauren: trying to be optimistic, gary come on. is there one tech stock you do like? >> not right now but let me give you the optimistic part about bear markets, 100% of the time they always end and lead to new bull markets bu

nasdaq is trading down almost a percentage point, down about .8. check apple, because that really took it on the chin about friday t was down 1 1/2%. today it is even worse. down 1.8, close to 2% loss today. a lot of people are thinking maybe it is the time to move into apple a little bit to fill out my portfolio. >>> meanwhile the president of toyota is weighing in on the future of evs, electric cars. come in, lauren. what is he saying. lauren: he is making a good point. toyota has a question about strategy, seems everyone is doing but of toyota pursuing electric vehicles, only that this is what he told "the wall street journal" quote, people involved in the auto industry are largely a silent majority. that silent majority is wondering whether evs are okay to have as a single option. but they think it is the trend so they can't speak out loudly. he continues the right answer is unclear. we shouldn't limit ourselves to just one option. toyota is not, they're investing in hybrids, hydrogen powered cars. they're world's biggest automaker. they're mov

the dow is up 200, nasdaq's up 228. solid rally for the nasdaq. >>> and there's in the: a navy seal who came out as transgender a decade ago as detransitioned back to male. he's now warning youngsters, do not rush into this life-altering decision. we've got more on that for you. >>> uncoming senator john fetterman is honored for his fashion sense. no joke, as the president would say. we'll explain it all next. ♪ come on, vogue. ♪ let your body move toot music -- to the music murks muc- ♪ ♪ a must in your medicine cabinet! less sick days! cold coming on? zicam is the number one cold shortening brand! highly recommend it! zifans love zicam's unique zinc formula. it shortens colds! zicam. zinc that cold! ♪ at prudential we think you should say it when things go right too. like, when you score your dream job. sell your business. or discover she's smart... really smart. now what? here's what: you connect with prudential's rock-solid team serving over 50 million people. with investment, insurance and retirement know

the nasdaq is up 1.5% the s&p up one and one-third percent. we need to look at rite aid complete opposite story here touching a record low of $3.64 it's at right now. the record low $3.63, down 17.5% after the companywide ened its annual loss forecast for the third quarter in a row. the drug store operator says it now expects a loss of between $551 million and $584 million for the fiscal year ending marcs including pharmacy margins, seasonal markdowns and higher shrink, that's code for increased threat and fraud. revenue also slipped missing the previous boost it had gotten from past quarters because of the covid testing and vaccine demand. six flags riding up the rollercoaster after a shareholder accumulated a 3% share in the amusement park. a 3% stake, we should say, land and buildings investment has been in discussions with the park about splitting the business into separate operating and property companies analysts say the deal to spin-off or sell its real estate holdings could unlock 1 billion to 1.5 billion in shareholder value and send

it was a tight close and nasdaq and the s&p actually losing ground. this is the lowest close for the nasdaq we've seen since november 9. treasury yields spiking a look at two year and ten year right now. as you can see kind of a mixed bag and two year and slight gain and ten year that yield is slightly down. more reads on the housing market and pending home sales are coming out at 10:00 a.m. eastern time. all eyes on that and european markets this morning trading like this. as you can see on your screen, they are -- let's take a look. well, they're higher and we'll get you those in a second. there you go. there's your european markets and all higher as you can see. taking a look at asia overnight, markets were mostly lower in asia and and gaining more than 1.5% and only winner and hong kong with last major covid rules removing gathering limits to vaccination checks, testing for travelers and a big economics list to talk about today. over 2700 flights into our out of the u.s. canceled this morning alone. all of that due to weather and some other things

stocks rising ahead of the that report the nasdaq leading the gains up over a% aent in trading. the s&p 500 breaking a five day losing streak but can it continue after tomorrow's data on inflation i got a great desk here with me. >> and we have a great -- >> i envy melissa every day because she gets to hang out with you >> are you trying to get an early christmas present. >> i'm trying to say, melissa, i'm very jealous you get to hang out with these guys. tim, it is a market that saw a bounce but it was five days of losses before that is there a good sign for ppi >> was five days of losses and the semiconductor are down 1% only from that almost 30 plus percent move off the cpi intraday low and i refer to that going into tomorrow's ppi because we have a lot of relief across goods and maybe not services an the commodity, lumber prices are below where they were pre-covid and cotton up 10% and wheat prices are in line with where we were before we went into ukraine and so the dynamics are around some of the feed puts into inflation i think on the ppi side are better i think the numbe

take a look at nasdaq as well, big day for the nasdaq yesterday. those growth stocks are gaining 4% today again essentially flat just up 5 points. take a look at big tech, high growth name ifs we can. mixed bag, meta and amazon moving higher and alphabet, apple, and microsoft down. microsoft off half a percent in the very early going. let's take a look at sales force if we can. big drop down more than 9%. we know the co-ceo of the company, brett taylor is stepping down but, susan, do we know why? susan: yeah, there's a personnel issue at sales force and that's why the business is down and stock was good over the summer. brett taylor, was the chairman of twitter's board that forced elon musk to buy it and pull through with that deal. taylor now leaving sales force at the end of january. that was a bit of a surprise. only one year on the job, second co-ceo to leave in three years so really that's not a good look, especially for mark who will be the sole ceo of the company that was founded and does that structure work at salesforce and is there a pers

the s&p right now is up by 23 points, now that nasdaq. the nasdaq at one point was up 160 points is now up 111 so pretty close there. russel 2000 is also trending higher. okay, well if you look at markets for the week, the dow, s&p 500 the nasal down more than 1.7%. the s&p 500 at least is trying to snap a five-session losing streak and the nasdaq is looking reverse four days of declines amid its 264th trading day without a new record high. the markets reacting at least positively to those initial jobless claims we got out this morning at 8:30 a.m. eastern time. 233,000 new jobless claims were filed for the weekending december 3. this was in line with estimates but up from last week. bad economic news, really good news for the market. all about the fed and that labor market, right? well china stocks are helping to fuel the rally. china is continuing to ease covid-19 restrictions. china's national health authority has now said that a symptomatic covid-19 cases and people with mild symptoms can quarantine at home, investors view that as a b

lack at that, nasdaq down 340 points. that is 3%. first off this morning, we got news that retail sales fell in november, more than expected as they say. also, industrial activity, manufacturing activityless down in the month of november. plus, what jay powell said yesterday, a recession is a possibility and he is will keep on tightening interest rates. all that add up together, that's why you got this selling on wall street as of this thursday morning. back to the trivia question, it's a good one. how many islands make up i guess the state of hawaii, is it 4, is it 8, is it 12, is it 16. ash what have you got. >> always wanted to to to hawaii. i go with number three, 12. stuart: i will too. it is eight. the answer is eight. here they are. we got a shot of that. there you go on your screens right now. not going to try to pronounce them all, the eight islands of hawaii. ashley, see you later. great show today. thanks a lot, man. >> yes, sir. stuart: time's up for me. neil, it is yours. neil: all right, stuart, thank you very much. goo

. >> the nasdaq down another 1% today. let's get to walker and the half >>> all right, thanks very much. welcome everybody to the half time report. i'm scott wapner, front and center this hour $10 trillion. it's a staggering amount of money lost in u.s. stocks this year, the worst for your money since 2008 it's been a top-heavy takedown, too. apple, microsoft many other megacaps accounting for the biggest share of that suffering. will there be a reversal in 23 we'll debate that today with the investment committee we're at session lows. dow is down 230. we are barely hanging onto 33,000 the s&p 500 is below 3800. it's a loss of 30 points nasdaq is down by a little more than 1%. yields ticking up lately, too. today 286. session lows, there was a report that you flagged to me earlier, a bloomberg report of 50% of passengers arriving in milan from china from two different planes positive with covid it goes to where sentiment is. doesn't take much to shake-up this market right now. >> no, it completely underscores how concernin

the s&p and the dow have gone positive so did the nasdaq but now it's slipping negative. let's bring in bob all of this coming amid a backdrop of a lot more economic datament some of which is good showing inflation is slowing down and bonds are selling off again. what do you make of it >> yeah. unfortunately rates are trending up again after trending down, so it is very hard to get a clear trend. it is 3-2 advancing to declining stocks the numbers were better at 10:00 a.m. also new home sales numbers were better we got a boost on the s&p. went positive on that. the big winner of the day is energy a quiet rally going on in energy we went from $70 in oil to $80 in oil these are the big winners on the year these stocks are up 60%, 70%, 80% on the year. big cap tech is more stable, micron is positive it is mixed. microsoft and apple, apple is down 25% for the year. some of these are trending down in the last two weeks on earnings revisions downward for 2023 tesla, well, new low today tesla has gone from 200 to 123 literally this month you know what's remarkable about tesla? 2

the nasdaq, high growth stocks, big tech stocks getting hit down more than 1% on the nasdaq and s&p down eight tenths of a percent and bring in jonathan ho nig. jonathan, 283,000 jobs added last month and better than expected and markets went into a panic. oh, no, this is not what the fed wants to hear. they're selling off and is that the reason, is that a knee-jerk reaction to a perhaps better jobs report than expected in >> the old saying going, ashley, expected with the jobs number, one swallow does not make a summer. look at long term, especially with jobs. in the 1970s, the unemployment rate went from 6% to 3% and back to 6% and then to 9% then back to 6% just in a matter of ten years. i do think there's money to be made here. stocks are up more than 20% off the bottom. in fact, interest rates are down and there's money to be made here but what you're beginning to see is the pattern of basically bad news for wall street and good news for main street and v vice versa and more companies firing people the higher their stocks are going. ashley: i was reading your notes, jonathan, and th

maybe s&p comes off those lows still, and then the nasdaq down 232. the philly semiconductor index we started at the top of the hour explaining that the semiconductors or semi equipment makers are getting obliterated at the moment. down 3.99%, not a pretty picture but off the lows of the session certainly. top laggards on the philly semi index include and this is not going to be a surprise to you because we already talked about lam research, nvidia, applied materials kla tencor, and marvel. shares of amc had a horrible session. they have now turned around at least for eight but amc is still down 8.7% as we head near to the closing bell on news of ceo adam aron's latest from pose all for a one for 10 reverse stock split which would further, obviously, dilute shareholders. charlie gasparino. what does this mean for amc survival? charlie: we should point out it has been up all day. liz: 77% what's that about? charlie: i'll tell you why because the way they are doing this maneuver, ape will converge basically eliminate the ape. it's going to converge with

the dow industrials are now down 641 points and the nasdaq is down to 52, down for the nasdaq. the markets are set to close at the lowest level since november 9th. heavy selling today. the 10 year treasury yield coming down 3. 47%, big tech down across the board, significant losses. we have microsoft down 2.3% and on the bottom of the list meta is down 3.5%, significant losses. bitcoin around $17,000 a coin. now this. eric adams is the mayor of new york city, he is asking the biden team for $1 billion to cover the cost of migrants bused in from the border. he made the request in october when there were 17,000 migrants in the city. $1 billion for 17,000 you see where i am going with this? the cost of the open border has become obvious and cost to you, the taxpayer. 500,000 people across the border since october. if the cost of supporting 17,000 is a billion, the cost of supporting 500,000 is 29 billion and the 4 million since biden took office, $235 billion. we don't know if new york will get the money, the application is being reviewed but if they do get it why should every cit