if there is wage inflation, amazon sees it, if there's inflation in trucking business, amazon sees it more complicated of a business that all said, this is an investment cycle we generally think you make money buying amazon on investment cycles. >> are you at all, i mean, the guide on december operating income zero to 3 billion, what will the danger be if they did not make money in this coming quarter? >> i don't know. we thought there was risk to the december quarter income operating guidance i thought $4 billion to $5 billion. we knew it was an investment cycle and we didn't know that big. a lot of costs involved here two questions you need to ask yourself asamazon investor anything change in terms of the revenue growth and you look at it on a two-year stack basis and the dramatic covid costs and it's faster post-covid than it was pre-covid. the second thing is, you know, the cost which of those costs are structural, permanent and temporary and elective i think if you look through it some that are permanent that are wage increases but most of the others are temporary or elective the

whether you're shipped through amazon being an amazon brand gets you to the top spot of their search results. >> of course we don't know what will happen with the inform act, how could legislation like that impact the landscape and force amazon to make changes >> well, there's lots of things being looked at in washington to reign in amazon's power, right they have 40% of online sales on their platform third party sellers are basically completely dependent on them to reach their markets lots of things can help, right transparency for instance, most of these amazon brands that they have which they have hundreds of brands it's not clear to consumers that they're choosing an amazon brand. simple transparency is something that could make a difference obviously the sellers being able to communicate with their customers directly is also something they're seeking. but you know, there's also an anti-trust question here which is amazon using its platform to extend its monopoly as a retail marketplace into a position in a new market as a seller and manufacturer of goods, right that's a question

get a preview of amazon's report. >> amazon has been the tech mega cap nderperformer of the year. guidance will be key for the holiday quarter. this is typically amazon's biggest by far not just on the representative knew side but costs are rising, wage increases, inventory build, streaming content, logistics and grocery build-out. watch the cloud number in advertising, ads, one of amazon's fast test growing segment, did it hurt we'll be on the lookout. >> thank you so much for that one. we're looking forward to that and apple 30 minutes after that, two big tech reports to focus on later. but mike, what are they saying >> pretty broad partici ticipat. the nasdaq is eiga little bette. take a look at consumer discretionary. this is the main index etf, xly version. it's had a huge run to meet the other one on a year-to-date basis. that's because amazon and tesla are 40%. they may have woken up both of those stocks ramping equally weighted version tells you a lot more about the consumer the volatility index receding a little bit a little bit of a wobble is keeping it more elevated tha

and that is a big thing with _ like amazon. and that is a big thing with amazon _ like amazon. and that is a big thing with amazon trying - like amazon. and that is a big thing with amazon trying to i thing with amazon trying to encroach on their territory. exactly, intent on taking a niche market, ebay is promoting its bigger sellers, and one of the things they are doing now, high—end products, they are offering an authentication service. so when you are bidding on these different products, ebay is essentially authenticating and making sure these products are real whereas amazon does not offer those services. d0 amazon does not offer those services. , ., ~ services. do you think the secret for _ services. do you think the secret for ebay _ services. do you think the secret for ebay is - services. do you think the secret for ebay is the - services. do you think the j secret for ebay is the very niche items, one—off pieces of jewellery perhaps or a limited edition pair of trainers, is that where it can perhaps make a bigger margin on its profits? absolutely. to your point, t

it's actually pretty embarrassing for amazon, and incredibly concerning all around, especially amazon is involved. now, christy, what all do we know about this hacker group called anarchy? well, not much in explicit detail, or else i wouldn't be so fascinating. it's essentially a captive ism group as in internet activism. they use these hacks in order to garner attention as a form of civil disobedience and or to promote a political agenda or social change. and i mean the roots of hacker culture and hacker as 6 are often related to free speech human rights or freedom of information movements. so this leak was literally intended to create a public statement and to create chaos. not out of greed or store sion like ransomware. so that's exactly what this is. the hacker blamed amazon's could bead and twitches sites toxic culture, and stated that the league was intended to foster more disruption and competition in the online video streaming space. essentially by posting the source code for the world to see the hacker, basically as mocking bay. so saying that base those paid $970000000.00 fo

what has amazon said? >> amazon has been mom. -- typically when amazon gets breached, we hear a statement from them before the day is out. maybe tomorrow. and then maybe a week down the line we get a former, here's what went wrong. the anonymous speaker suggested there might be a second part of it. this cash might have more coming. dumpy surprise if there's another dump down the line. emily: what would more competition in streaming look like? matt: it is hard to say. this is twitch possible market. google is throwing a ton of money at creators, microsoft got into that business, but then got out of it, this is twitch possible to lose. we haven't seen a lot of competition out there. emily: what details did we learn about the content creators especially whose information was exposed the echo matt: we knew it was lucrative -- exposed? matt: we knew it was lucrative for some. $10 million a year to some of the top accounts. we knew you can make hundreds of thousands of dollars, but that is the upper crust. certa

our thanks your rewards. >>> big tech in the red after amazon and apple failed to deliver. nasdaq futures pointing to a sharply lower open ahead of president biden's g20 debut, treasury secretary janet yellen speaking with our sarah eisen on the economy, supply chain, and fed and much more. >> i believe that pretty soon, hopefully next week, congress will pass both the reconciliation or build back better bill, and also the infrastructure package >>> plus the global energy crisis showing no signs of abating what one major u.s. gas producer is expecting in the winter months ahead for the u.s. and europe it's friday, october 29th, 2021, and you're watching "worldwide exchange" on cnbc. >>> welcome back i'm courtney reagan in for brian sullivan let's check your stock futures just about 30 minutes past the hour we are indicated for a lower open for the major averages the s&p 500 down 22 points the dow jones industrial off by 53 look at the nasdaq, it's actually getting a touch worse than the top of the hour, down 134 points at this time after those disappointing results from ama

it's actually pretty embarrassing for amazon and incredibly concerning all around, especially amazon is involved. now, christy, what all do we know about this hacker group called anarchy? well, not much and explicit detail or also wouldn't be so fascinating. it's essentially a captive ism group. as in internet activism. they use these hats in order to garner attention as a form of civil disobedience and or to promote a political agenda or social change. and i mean the roots of hacker culture and hacker as 6 are often related to free speech human rights or freedom of information movements. so this leak was literally intended to create a public statement and to create chaos. not out of greed are distortion like ransomware. so that's exactly what this is. the hacker blamed amazon's could bead and twitches sites toxic culture, and stated that the league was intended to foster more disruption and competition in the online video streaming space. essentially by posting the source code for the world to see the hacker, basically as mocking bay. so saying that base those paid $970000000.00 for

amazon alone in 2018 had $11 billion in profits. not only did they pay zero in taxes, they actually got a tax refund. there tax rate is minus 1.2% and the next year they had her team billion dollars in profits. the tax rate was 1%. last year they made $20 billion in profits and for the first time they actually paid some tax , about 9%, but that's half of the corporate rate in this country and of course still way below the 15% minimum. there's a feeling that these corporations are still not paying their fair share and they have plenty of profits to do it. taylor: elise bean, really appreciate your time. you guys, of course we had into continuing to looking at shares of apple lower on the day. i think the key stand out here is the service revenue that has been one of the star out performers, the iphone and the supply chain crunch that has hurt some of these devices. we continue to see that within shares of apple. pivoted to that similar conversation with amazon about higher costs, higher wages, higher elation. how much is that continu

it's actually pretty embarrassing for amazon, and incredibly concerning all around, especially amazon has evolved. now, christy, what all do we know about this hacker group called anarchy? well, not much and explicit detail, or else i wouldn't be so fascinating. it's essentially a captive ism group. as in internet activism. they use these hacks in order to garner attention as a form of civil disobedience and or to promote a political agenda or social change. and i mean the roots of hacker culture and hacker as 6 are often related to free speech human rights or freedom of information movements. so this leak was literally intended to create a public statement and to create chaos. not out of greed or store sion like ransomware. so that's exactly what this is. the hacker blamed amazon's could bead and twitches sites toxic culture and stated that the leak was intended to foster more disruption and competition in the online video streaming space. essentially by posting the source code for the world to see the hacker, basically as mocking bay. so saying that base those paid $970000000.00 for

plus, instacart taking on amazon. the grocery delivery of start -- upstart wants to arm grocers with a shopping cart technology of the future. i caught up with ceo fidji simo in her first 90 days on the job in an exclusive interview. plus, how stores are navigating food shortages and barren shelves. and twitter shares tanked despite ad revenue holding up well. i will talk about how twitter will work hard to be part of your daily ritual. first, let's get to u.s. stocks falling from all-time highs. walk us through the day. kriti: emily, we started in the green, ended the day at session lows. it was that check trade that we saw underperform at the end of the day, especially when it comes to the subsectors. the gold index down, not catching that investor bid that was so strong last week. biotech and the stoxx index also lower on the day. i want to zoom in on the tech trade because we know big tech led the way higher, they also led the way lower. you mention the record highs, we saw a bounce back after that. maybe around 1

and amazon given the increase in amazon air, given the delivery network that it has and given the signal that it has from consumers and what they're searching for even now, they know what they need and perhaps have better data and intelligence than others so, while this is an issue for everybody. we're talking about apple having its own challenges which it had warned about in supply chain amazon's got data and logistics network. that helps >> yep not all logistic clients are created equal. we talk about having leverage on the chain all the time although, julia, i would point out that did cut margin estimates for amazon on the higher input costs and labor, logistics, technology, infrastructure, they say enough macro head winds to continue holding back shares in the long term but long term and medium term they would be buyers on weakness. >> a lot of bullishness for the long term for amazon and, yes, you're right, john, it's true. amazon has more resources than anyone to figure out these problems but i would also say when you order something from etsy you don't expect to get it in two days

we expect amazon to see growth, and that is why we are bullish on amazon. david: any risks? i'm looking at three here in your report. >> the near term response will be higher costs. amazon has been hiring much more in advance of the holiday, hiring 150,000 additional seasonal workers. more than 10% rise in wages as well, so we think this is a near-term risk for amazon, labor costs. haslinda: advertising is one of the fastest growing businesses for amazon. how much clarity do you have the quarters ahead? >> we think it will remain strong simply because amazon is handling the supply chain problems a bit better, so they just came out on monday to say that they have invested a lot to make sure everyone gets their packages on time. more advertising revenue is less worry on the platform. haslinda: i want to talk to you about apple. you are less excited about apple than amazon. why is that? >> for apple, there's some risks. first of all, they have risk with lawsuits, and they were more affected by supply chain issues. we are still bullish on apple. we have been priced at $187. we a

amazon is no exception. the small businesses that make deliveries for amazon are no exception. they will hire anyone who can breathe. that is your qualification at this point. i'm serious. the signs are everywhere, whether it is fast food, retail, or e-commerce and logistics delivery, they are all really struggling. one thing, if we look back, remember a few years ago amazon made a pledge about $15 per hour. that is like your minimum wage right now. lots of fast food joints are paying that and a lot of these companies are struggling with how can we differentiate, other than raising pay, when you have companies like walmart and target offering college, another trick amazon pulled out was, let's advertise we don't screen for marijuana use. try to appeal to potheads and make the labor pool a little bigger than we were otherwise recruiting. they are pulling out a lot of tricks. everyone was driving wages up, up, up. gina: what is the critical point where they have to cave and start increasing wages? they are trying everything under the sun to attract employees. at some point, if th

matt: amazon is there with you. i'm looking at is amazon's ad business. there are worries that amazon is going to see some tailing off because folks don't have advertorials -- inventories. you don't want to click and added find something is not available. i am cares -- i'm curious about how amazon fares if inventory becomes a problem. emily: we are also going to be looking at the first full quarter under andy's leadership. what can you tell us about how the transition has been? matt: it has looked smooth from the outside in the supply chain stuff was stuff that predated him. we have yet to see him put a stamp on the business. there is a bit of a new tone at the top but i know think we are going to see anything showing up in the results. he is probably not going to show up on the call himself. emily: turning back to apple, where you have a more steady leadership team that has been in place many years, what are the things you are going to be watching? we have reported on the newer accessories, new airpods, the macbooks, the move to the new m1 and all of the

let's turn to amazon. they reported along with apple neither of them did well. >> reporter: good friday morning. for amazon that chaos added to billion dollars and that is expected to double, their outlook disappointing, so has andy jaffe's performance as ceo, he steps down 6%. final thing on amazon, cloud and services revenue bigger than retail for the first time. similar story at apple when you look at the supply chains, $6 billion in sales. tim cook says it will get worse. i have good news for apple. this is a supply problem, not a demand one. revenue light, $83 billion, stock down 3.5%. stuart: of apple and amazon open up this morning at those reduced prices, i believe microsoft will overtake apple as this country's most valuable company. >> worth $2.5 trillion. of this loss for apple sticks and microsoft is higher it will be worth $200 trillion, number one in the us. stuart: i didn't see it, even though i bought it a few years ago. you've got to explain to me what facebook, they changed their name to

it's actually pretty embarrassing for amazon, and incredibly concerning all around, especially amazon is involved. now, christy, what all do we know about this hacker group called anarchy? well, not much in explicit detail, or i also wouldn't be so fascinating. it's essentially a captive ism group as in internet activism. they use these hacks in order to garner attention as a form of civil disobedience and or to promote a political agenda or social change. and i mean the roots of hacker culture and hacker as 6 are often related to free speech human rights or freedom of information movements. so this leak was literally intended to create a public statement and to create chaos. not out of greed are distortion like ransomware. so that's exactly what this is. the hacker blamed amazon's could bead and twitches sites toxic culture, and stated that the league was intended to foster more disruption and competition in the online video streaming space. essentially by posting the source code for the world to see the hacker, basically as mocking bay. so saying that base those paid $970000000.00 f

it's actually pretty embarrassing for amazon and incredibly concerning all around, especially amazon is involved. now, christy, what all do we know about this hacker group called anarchy? well, not much and explicit detail or also wouldn't be so fascinating. it's essentially a captive ism group. as in internet activism. they use these hats in order to garner attention as a form of civil disobedience and or to promote a political agenda or social change. and i mean the roots of hacker culture and hacker as 6 are often related to free speech human rights or freedom of information movements. so this leak was literally intended to create a public statement and to create chaos. not out of greed are distortion like ransomware. so that's exactly what this is. the hacker blamed amazon's could bead and twitches sites, toxic culture, and stated that the league was intended to foster more disruption and competition in the online video streaming space. essentially by posting the source code for the world to see, the hacker basically is mocking based. so saying that base those paid $970000000.00

what do you think should now — from the amazon. what do you think should now happen _ from the amazon. what do you think should now happen to _ from the amazon. what do you think should now happen to try _ from the amazon. what do you think should now happen to try to - from the amazon. what do you think should now happen to try to stop - should now happen to try to stop this? i mean, this is something that has been long discussed, hasn't it, protecting the amazon? what bu like to see? we protecting the amazon? what bu like to see? ~ ., ., ., to see? we have to zero deforestation _ to see? we have to zero deforestation and - to see? we have to zero deforestation and then l to see? we have to zero - deforestation and then replant, to see? we have to zero _ deforestation and then replant, we have to grow the forest again to keep it healthy, to give it the ambient services the forest normally provides. idr ambient services the forest normally rovides. , ., ., ambient services the forest normally rovides. ., ., ., ~ ambient services th

i amazon's of online market place, isn't it? how is amazon suddenly now going to be the single, single biggest holder of classified information, like, i don't get it? well, just goes to show you. those are that are, you know, what it indicates is of nexus between corporations and the state. and the people talk about corporate capture of the state here that you are and messed it in such a way that it is very, very difficult to distinguish between the 2. and that is really another good reason to probe this relationship. because this relationship is essentially caruso, because they do have divergent interests. and i'm sure many people out there who are concerned about corporate power will refer to these kind of details, these kind of transactions and say, look, corporations are on the inside track. now you can imagine executives of corporations meeting top government officials or as a sort of nudges on wings and elbows her. the to, to promote particular kind of policies which may be advantageous, the call to a corporation or perhap

i want to move to amazon now. lower in after-hours trading after giving forecasts for holiday sales that fell short of estimates. the new ceo warning that supply chain issues could cause the company several billions during the holiday season. i am joined by the cofounder and president of an e-commerce platform that helps companies like amazon with ad sales, and she used to work at amazon for many years. what is your take on this holiday quarter? is the pandemic e-commerce boom over? >> is the e-commerce boom over? is the crazy growth of it? it might be. it was unsustainable. there was some disappointing guidance. there are so many headwinds this quarter. labor supply shortages. from warehouse workers to tech workers. the need to pay higher what wages, the global supply chain issue, other things that have happened, there was no big prime day. they pulled prime day to q2 in june. there was a high return to store shopping this quarter as well. people actually wanted to go shopping in stores. go figure. emily: is ther

amazon web services is _ on the brands. amazon web services is where _ on the brands. amazon web services is where the - on the brands. amazon webj services is where the money on the brands. amazon web i services is where the money is that, it? how is it doing? it is accelerating. so the third quarter in a row where there are sales accelerated. still not as big as the retail business in terms of topline revenue but margins are much better, profits are a driver there and also noteworthy, similar in terms of economics as the advertising business. which is growing 50% year on year. and a very profitable segment. year. and a very profitable segment-— year. and a very profitable seament. ,, ., ~ ., , ., segment. still making tonnes of mone . segment. still making tonnes of money- let's — segment. still making tonnes of money. let's check— segment. still making tonnes of money. let's check in _ segment. still making tonnes of money. let's check in with - segment. still making tonnes of money. let's check in with a - money. let's check in with a couple of other stories.

care services for people in the amazon. it's a very poor system today in the amazon and people are already going through a lot of suffering due to this very, very poor health care system. >> and just how seriously is the brazilian government taking this phlegm, bearing in mind that a lot of it is being caused by logging? >> well, we hope that this new scientific study that the global and scientific community is producing showing the risk that the amazon rain forest is going through, ifle really make the government of the am zone yan countriles, especiall the brazil yan government, to completely change their policies towards the am son. we are seeing a polls that encourages amazon deforestation, illegal mining and logging so we have really to put a full stop to this mode of development. >> thank you very much, doctor, for joining us. >> touch. >> red-hot lava from a volca erupting on the spanish island of la palma continues to flow into the stay, sending out vast clouds of toxic gases. thousands have been forced to three sin

certainly a lot to look for in the amazon report. >> indeed. thanks >>> coming up more big money movers including why results from e bay have investors hitting sell >>> some other top stories the white house says at least 1.5 million americans have received booster shots of moderna or johnson & johnson's covid vaccine in the first five days of their availability it adds at least 15 million have gotten a booster since pfizer cleared their shot in august >>> and looking at relationships with several fin tech firms. they're looking at financial incentives that visa gave square, strip and paypal and cathie wood's organization is reportedly launching its name it will now go by tttule capital short but will keep its ticker, sark back in a moment time for your big money movers first up, ebay, third quarter results beating forecasts but the number of active buyers and merchandise volume fell. they're also projecting fourth quarter revenue below estimates. the sign that the online shopping boom during the pandemic is easing shares down almost 6%. don't

added to amazon today instead of adding to apple. why did you do that? >> well, i think there are two reasons. one is that if you look at the near-term and we know that the holiday season is coming up now soon in a week and amazon is making every commitment they can to ensure that there's going to be delivery to customers and not snags and supply chain problems and they talked about that on the call >> there's nothing they can do >> right >> supply chain issues are supply chain issues, right they have labor cost issues and they didn't mention steel. they have a whole host of issues which is why cramer says apple is much better than amazon in terms of where they are rate now and the headwinds that they each are currently facing >> i think what jim is saying is that apple is dominant in the phone space and they have a new phone out there that they will continue to see that steady growth, that comes with sales of iphones and services, but what amazon has is the advantage of being the largest in their vertical, also, and the holiday seas

amazon up. and consumer discretionary is the best sector. hasbro up 3% consumer staples with the weakest with walgreens and costco down slightly >> we start with the big tech earnings and key earnings. today, alphabet, microsoft, and twitter report after the bell. on thursday, it is apple and amazon so what are the important metrics to watch and how should you invest in technology jaso jason, good to see you why don't we start with a stock i know you like. walk us through alphabet/google. >> good to be with you guys. this is probably pound for pound the best technology company in the world. they had a big quarter last quarter in the june quarter. that was in part because they were lacking easy comparisons in the prior year due to covid, but this company continues to fire on all cylinders and it's really woven into the digital fabric of our lives. i think investors will be looking at ad spend, although we think google is going to be relatively immune to some of the problems snap faced. youtube, video is going to be important. cloud is their n

shares from somebody and certainly on a committee. >> amazon is going 5,000 and it will be an amazon christmas and people last year that never would have done online shopping for something like the holidays that was 100% to how they shopped and they're not going to go back to the old ways and the adoption curve for e-commerce has sped up. cloud is on fire content is on fire they're -- the grocery store rollout, the touchless retail stores, et cetera. i think that they've made huge investments and they've taken on a lot of new expenses related to covid, et cetera everyone is aware of the workforce stuff, and okay, that's obviously in the stock and if you are waiting for "the new york times" you have no edge trying to find out what it means for forward price so everybody getting that and the big picture here is dominant player in a fast-growing area and huge economies of scale with stocks going up >> degas >> i'm sorry >> go ahead, steph >> well, i was just going to simply say if everything is so on fire and they're going to blow it away and get to 5,000 by the end of the year why is t

jonathan:, don -- amazon has been negative on the year. it is pretty much dead flat for the year so far. tom: david wilson had that great bar chart. on radio, it was a negative bar chart with amazon decisively more negative on the earnings markdown. same idea. jonathan: we are positive 1.4%. lisa, i think this was the morgan stanley call more recently on amazon. the price target cut more recently. they are still bullish, but the price target cut was off the back of some of these labor market jitters. lisa: the idea they will have to pay more to some of their above one million employees, and the fact that this will cut into their bottom line, and then you get the likes of facebook with 60,000 some employees, they don't have the same pressures. tom: they are going to pay more, and 82.7 percent is going to go back into buying on amazon. jonathan: it is true, tom. what did jeff bezos say after that nice little rocket trip? what did he say in news conference? i would like to thank the staff and the customers for helping to make this happen. we

your new pharmacy is amazon pharmacy. you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> congress has sent a letter to amazon accusing jeff bezos of either misleading congress or lying to lawmakers about amazon's business practices. now they are warning that the committee could refer the case to the department of justice. it follows a reuters investigation last week allegedly showing amazon has conducted a systemic campaign of copying products and rigging search results in its app in india to boost sales of its own brand, it own version of those products. here's bezos in july of 2020 testifying before the committee. >> mr. bezos, does amazon ever access and use third-party seller data when making business decisions? and just a yes or no will suffice, sir. >> i can't answer that question yes or no. what i can tell you is we have a polic

it is weighted heavily in amazon's favor. because he reported, the $80 billion valuation, a big part of that is because amazon is a big investor, not just a customer. emily: ed, thanks so much. moving on to intuit. the company response of our guiding millions through the tax process, supporting small businesses and helping individuals manage their money, recently announced a $12 billion acquisition of -- since then, the company has launched its venture arm with a focus on startups they can help small businesses and consumers. for more on the latest strides in protections for the remainder of the year, i am joined by intuit ceo. great to have you with us. i'm going to start with the huge deal on the back of your big buy of credit karma. how does this played into your overall strategy to expand? guest: thank you so much for having me. we are very excited. one of the goals we have set for the company if we want to improve the success rate of small businesses by more than 10 points versus industry. the industry benchmark is 50% o

amazon and apple after the break. >>> then later digging into president biden's framework and how companies like tesla could reap the benefits. "squawk box" coming back right after this we love our house, been here for years. yeah. but there's an animal in the attic. (loud drumming) yeah yeah yeah yeah!!!! (animal drumming in distance) (loud drumming) drums! drums! aaaaaahhhh! at least geico makes bundling our home and car insurance easy. we save a lot. aaaaaahhhh! ohhh! (loud drumming) animal! aaaaaahhhh! for bundling made easy, go to geico.com. uh-oh... (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you help others. so you can live your life. that's life well planned. in 2016, i was working at the amazon warehouse when my brother passed away. and a couple of years later, my mother passed away. after taking care of them

>> amazon. >> there you go. thanks, weiss. "the exchange" starts now. >>> thank you, scott hi, everybody, i'm kelly evans here's what's ahead on "the exchange." the white house announcing details of its now $1.75 trillion social spending and climate bill it's a mouthful but we'll tell you what's in it, what's not, how it's going to be paid for and whether it has enough support to pass. >>> we're talking to ceos to get their thoughts on the economy. we'll hear from the head of huntington bank and wyndham hotels. >>> and it's a huge day for our earnings exchange. we

>> let's start with amazon. they are spending through the nose in order to overcome the constraints. in order to get the products into the hands of customers and get them done in a timely manner. it is having to spend extra. what they said is that profit in the fourth quarter will be wiped out. they are spending, they were absolutely increasing the spending to make sure they get the products customers want into their hands in time for the holidays. apple as well. apple is taking the steps it needs to in order to overcome the supply constraints but it won't be enough to keep them from having a hit on revenue. shery: ed, we have future rebrand a facebook. tell us about this. >> it's a change in name only. facebook becomes meta. the company's stay the same. there is no restructuring like we had with off a bet and google. -- alphabet and google. it's the biggest signal that we have had about facebook's future moving away from the dependence on the core advertising business toward the use of augmented virtual reality

kailey: i am glad that you brought up amazon, because this is exactly what we saw with amazon yesterday. profits being pressured in a substantial way because of higher labor costs. you have the logistics of getting goods to people within two days, that requires a lot of human manpower and you have to pay more to get people in the door. the question is, how sticky is that? are we going to be looking at a higher wage environment and what does it mean for corporations? tom: the president is meeting with the italian leadership, but here we have playback of the president meeting with the pope. the president attending pope francis's inauguration of 2013. lisa: i expect the meeting to be quite --, given the immigration conversation that the pope has been vocal about, and vaccinations. to take a vocal stance in the pandemic is exactly what he has done has he had tried to get his followers emerge from this health crisis. tom: the symbolism here as they marched down the stairs of the vatican, with the swiss guards, and perhaps we will see the cardinal here. this is from earlier. that's the secret

one darling for amazon is amazon web services, the cloud product year on year revenue for aws was up 39%. for facebook, meta, virtual-reality, facebook will officially be called meta -platform. it is about the tradition -- transition to virtual-reality. we learned that virtual-reality labs will be reported separately from the traditional family of applications. the oculus gaming headset, the smart glasses collaboration with ray-ban. i'm sure one of those products might be on your christmas list. francine: i'm not sure about that. there are many jokes around. are they now the manga stocks? it is only financial analyst humor that works in this case. president biden has delivered a framework for the latest version of the economic agenda for democrats in congress. he warned that the future of his presidency and the majority party's future is at stake. what can we expect going forward? >> it was a big breakthrough for biden. there've been months of negotiations on capitol hill. he didn't want to leave for europe empty-handed and he delayed his trip by a few hours and was able to deliver t

again, amazon and apple notwithstanding. and i think a lot of that has to deal with the guidance issue with the exception of maybe an apple, kind of an amazon here. most companies have said we're weathering these blows just nicely. there's the higher prices and all that. how do you interpret just the guidance these companies are giving? >> you know, as i walk through them, it's pretty darn good. if i'm not hearing much in the way of supply chain issues for a lot of companies. i'm seeing companies that have raised prices like chi peat lay -- chipotle and others. as you say the words weather the storm, sales growth is pretty darn good. and again, if we can get past this -- inflation persists and worsens, i can promise you there are going to be markdowns in everything. if this is something that just stays right here or just comes down a wee bit, i think we'll be okay. my big worry is going to be later into next year. i still think there's heck to pay, neil, this $29 trillion of debt, massive amounts of money being wasted on int

what do we know about amazon's plans? >> we know that amazon is shopping. there are seeking airbus and boeing planes. the reason you would do such a purchase is to take things intercontinental. in amazon's case, to get products from east asia to the u.s. or europe. haidi: does that mean they're looking to increasingly bring more work in house? >> amazon has built a robust internal logistics operation. they can transport between warehouses with trucks and increasingly they're looking to acquire their own planes to move things within their network. shery: what do we know about the relationship between amazon and air cargo carriers? >> it's a little complicated. amazon is ups's biggest customer. they don't have a strong relationship with fedex. amazon will say they need all the capacity they can to grow and they still rely on partners and still have a good relationship with them. haidi: matt day there in seattle on those changes that amazon. jp morgan saw dealmaking almost triple. helping the bank beat estimates to just under $12 billion. jamie dimon says the

amazon started black friday deals on october 4. what we're going to see is constant deals throughout the quarter. people buying holiday gifts and that's what the industry has been saying. if you wait till the last minute like many people do every year, you may not be able to find that especially in consumer electronics and toys. emily: thank you. coming up, calling for more diversity in tech. we will be joined by diversity equity and inclusion experts about a roadmap on how to create a more diverse and inclusive tech industry. that's next. this is bloomberg. ♪ >> the number one word is ambition. we are not where we need to be. about 120 countries have put in new commitments to 2030. we are not going to get under current plans where we need to get to which is harboring greenhouse gases by 2030. they need to raise their game. some have already raised it others need to do so. emily: that was a dire warning ahead of the cop26 conference in glasgow. you can catch more on that interview on bloomberg technology tomorrow. a new report ac

surprise, look at the retail index, without amazon up 83% in the last year, amazon is up 4%. national retail federation forecasting record holiday shopping, the most ever on gifts almost 860 billing dollars, retail analyst, advisor group, last time you are on, you are bracing for a move but i thought it was uncharacteristically used to has the moment past or are you bracing for something here on the downside? >> i am still bracing. you see these numbers from amazon and apple, they are a little spooky going into the holiday so it keeps me caused so i am overly cautious here. charles: you are excited about the retells base the last time we spoke, is it because they are eager to go out there and spend or is it something else going on? >> it's a multiplayer. on one hand, people are afraid to go out in situations or 89% of people now think the supply chain will but it's well into and pass the holiday. the people are undisturbed when they go shopping but with that said, people are sending a lot of cash and if you look at shop, merchandise and volume, they said in q4 so if you see c

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amazon helped me with training and tuition. today, i'm a medical assistant and i'm studying to become a registered nurse. in filipino: you'll always be in my heart. >>> royal caribbean, wider lan expected loss, but pretty bullish around bookings. they see profitable for all of next year. sailings at the high of the historical range demand has been surging back. >> he kind of chided me for -- they're doing better, too. i think this is an industry that has recovered to the point where, if you think travel and leisure is going to come back, they have now come down to the point that you might want to take a look at them. i had felt that it's air travel that i liked more, and i like ual, but these companies survived, and they're going to thrive, because it turns out, yes -- >> meanwhile, daily vaccinations in this country, 1.6 million yesterday, almost half of that a week ago, and at the highest since may, as boosters and requirements at the city level, state level, citigroup with a linked in post the first bank to make it mandatory

apple and amazon on deck tomorrow after the bell. if these two names deliver, could this be the green light for market highs ahead guy, we have had this conversation in some shape or form for years is it still going to be the key here does it not matter what else goes on as long as we have the biggest leaders in the market and moving higher? >> i think it does matter. although we talk about these stocks, rightly so, by the way, there are other things driving it as well but to answer your questions specifically, i think it will be the all clear sign although the price check was miserable, the numbers out of facebook and google and microsoft which was ridiculous given their size and scope, lead me to believe you will see similar in terms of apple and amazon i think amazon might set up better but the apple has been impressive as well they have carried the broader market and nothing to suggest they will change anytime soon. >> pete? >> i agree with guy. you look at apple. obviously they have their own issues everybody is talking about ch

do apple and amazon mark the end of the tech heyday? they were the tech darlings during the pandemic, weren't they? >> i would not be -- i really don't want to be calling this. tech has a long way to go, but the short answer is in the interim period, there are adjustments that need to take place. one is around the regulation and the containment of the reach of tech and data control that will have a large implication and the other is the harder side of tech rather than the social platforms, which will -- we will see is a structural issue, the u.s. and china face-off. beyond that regulatory account, we will see tech remaining very prominent. >> vishnu varathan, always great having you on and sharing your insights. mizuho bank head of economics and strategy there. take a look at stocks trading in japan. we are seeing sony and panasonic moving. sony really gaining ground as much as 4.5% at one point. they boosted their full year operating profit view to a record ¥1.04 trillion. they raised their full year operating income forecast. they bl

the company's call kicks off in about 17 minutes on amazon >> amazon is negative on the year the labor shortage and supply chain disruption the company not expecting those head winds to ease we are told he expects $4 billion in labor and disruption in the fourth quarter, doubling from the third quarter amazon has to hire an additional 250,000 workers globally for the busy holiday season. they are offering an average starting wage of $18 plus a signing bonus. meanwhile it is under macropressures and tough pandemic comps but that includes subscription services back to you. >> when i saw the headlines crossing, i thought dollar signs, dollar signs, stepping up investments on content, hiring will be costly they will do everything in their power to minimize destruction to customers, but in the short run isn't that costly? tim, what's your take? >> after coming after an historic fulfillment spend this was a top line story forever, all you wanted to see, the growth -- the numbers weren't that bad if you think about cost profile, yes, the labor numbers are staggering this is a stock that came

amazon we already praised that we'll praise it again. ford is str ving an amazing year and if they have all of the semiconductor the stock would be at 21. i think it takes out the 18 top in 2011. jp morgan did great. i know i was critical because the others have done so much better at banks. i beat myself up with boeing where is it? i almost took this out and whipped myself but oh, shoot, okay, that is how i feel and then disney entertainment, travel trust name. and retail, web services, entertainment and yes, aero space but you have to put the planes up in the air and then bank and auto. terrific i'm lastly going to betty in florida. >> good evening, mr. cramer. i'm betty from florida and i thank you very much for taking my phone call. i'm calling to ask am i diversified. i have stock in csx, pfizer, robinhood, zimmer bonnet and eaton corporation. and i do have one quick question, could you give us seniors advice on putting money into a stock that would deal with artificial intelligence thank you very much. >> i gotcha. we're going to d

def >> reporter: smoke billows above the amazon. smoke so thick it blankets this lush forest. fire so intense the ground is left charred. only dust remains. the spokesman for green peace brazil tells us 60 hectares of the amazon have gone up in flames in four days and the blame falls squarely on the president. >> reporter: cnn the flew over some of this year's hardest hit areas to subsidy the devastation for ourselves. from above our cameras captured the damage of increasing fires. the demarcated lines a sign. there has been nearly 13,000 fires in the same area. roughly a 50% increase from 2020 to 2021. now compare these images with these over a five year period. >> reporter: further south in the same state, a information cattle rancher is fighting protect what's left of the rain forest. this month he begins the task of helping to restore and reforest 2600 hectares of land that have been burned and used for cattle production. >> reporter: he's made it his mission to reforest the burned land but in doing so he's face ing attacks on his life. recounting vividly when he was ambus

apple and amazon. amazon morning higher input costs labor. what is interesting, both stocks down by 2%. earlier, amazon was down as much as 5%, biggest drop since july, and apple down by the most since march, but both stocks recovering. some green on the screen. look at this chart. we have a new king. microsoft now the world's most viable company by market cap, overtaking apple on the but also microsoft has had a great run, it's 11th consecutive quarter of beating estimates. let's talk about the company formerly known as facebook. over five days, down. we get this drop off in earnings, concern about advertising linked to apple's changing. somebody pulled a canvas sheet off the sign and facebook has a new name. the stock was higher for the last two sessions. we will go through it later in the show. the question is, how long does the transition take, and how long until meta makes money on the meta-verse. what a mouthful. emily: and how long to call facebook meta? it would take a long time to get used to it. thank you. it is all about the social

amazon's behavior has caught the attention of senator elizabeth warren who, in this letter to amazon's ceo, wrote she is concerned that amazon is peddling misinformation about covid-19 vaccines and treatments through its search and best-seller algorithms. he? accuses the retail giant of being unwilling or unable to modify its business practices to prevent the spread of falsehoods. in her letter, she notes that when her own staff searched for terms covid-19 and vaccine, the first result that came up was, you guessed it, joseph mercola's book. and it was tagged as a best-seller. warren goes on to point out to amazon that the book perpetuates dangerous conspiracies about covid-19, and false and misleading information about vaccines. >> i'm randi kaye with cnn. can we ask you a couple questions? >> reporter: dr. mercola refused to talk with us when we found him in florida in august. but unlike amazon, agreed to answer questions about his book over e-mail. mercola told us via e-mail that he encourages everyone to fully educate themselves to make individual decisions about medical risk takin