both the nasdaq and nasdaq 100, dow transports, s&p 500 hovering below the break even line for the holiday shortened week i would note, aerospace and defense companies, lockheed, amid the russia political strength that's going to do it for "squawk on the street. tech check starts now. good friday morning, welcome to "tech check," i'm carl quintanilla, with julia boorstin the s&p is on the cusp of going green. russia is willing to speak with ukrainian officials. how to maneuver your portfolio amid some of these moves we check in on some of the

biggest names in crypto. block, coin base moving in op silt directions. block, formerly square, up 20% and later, look up to the clouds, ceo of vm ware will join us to break down the earnings and supply chain issues amid this ukrainian crisis. >> we're going to start with a big swing for tech stocks yesterday, and how it's being played today dominic chu has that for us. >> a bit of a breather, and maybe understandably so. it was 24 hours ago we were sitting together talking about the initial signs of some of the bounce we were seeing in some of the most beaten up names in the nasdaq specifically, and amongst that trade, we highlighted first of all, the macro trade. on that one 24-hour basis and then a 48-hour basis, we saw that bottoming out happening with a nearly 3 1/2% decline at one point with the lows, to close up by 3 1/2% at the highs of the session into the close yesterday.

that ramp up really gained steam in the latter part of the day. we started to see those signs in the late morning on this particular show. now, with regard to the components that were leading the way, the mega cap names for obvious reasons for market cap weighted indices do a lot of heavy lifting when it comes to some of those moves. to that end, we look at names like microsoft and google parent company, alphabet and amazon, we talked about this 48 hour trade. this 24 to 48 hour trade where we saw them bottoming out and pick shopping lists being put to work there from microsoft, alphabet, amazon, other large tech names some of the other ones that have had the biggest bounces taking a breather in today's session as well we look at end phase energy, which by the way, ended up yesterday as the biggest gainer in the s&p 500 tesla was also an out sized win in yesterday's trade and software computing type

trade, and those names starting to take a little bit of a break today given the massive moves that we saw yesterday. we also did highlight, guys some of the travel trade, and yes, those are, again, taking a pause in today's trade as well we looked at names like booking holdings, alaska airlines is positive on the day. it's got a little bit of near term momentum. penn national gaming hotel operators, hilton and hyatt and some other ones out there are all ones we continue to watch here, but carl, the notion here is that, yes, we are seeing a very decent sized update right now some of the ones that led the gains yesterday are maybe being a little bit more tepid in today's trade today, guys. >> and dom, overall, is it sort of a return to value to some degree i mean, i know yesterday we saw a lot of the growth names pick up again, but they had been beaten down, some of them so far. >> well, another point that we brought up yesterday, right, john, was this notion that if there was an interest rate portion of this narrative, if

there was an inkling that perhaps interest rate policy or fed tightening might be a little less hawkish in the coming months that might lead to a revaluation of some of the selloff in some of the big growth tech names that we've seen to that end, many of those names, to your point were the ones that bounced the most today we are starting to see a little bit more normalcy when i say that, it's all relative the ten note treasury yield is back to the 2% level, kind of one we have been watching, with regard to the push higher in interest rates, at least on the long end of the curve. if we continue to see maybe this kind of more normalization, if you will, to the up side for some of those longer term rates, then maybe we start to see a little bit more of that kind of steam come off the momentum trade. that's something a lot of traders will be watching in the coming days and weeks i'm sure >> great point thank you. dominic chu kicking off the hour bespoke investment cofounder, paul hickies joining us, great to have you, happy friday. >> happy friday indeed, after this week.

wow. >> we've made it to this point i think it was b of a this morning said the two most frequent questions we get is when's a good time to start buying good growth again and when's the time to take profit on my best shorts. their team says yesterday was the day. do you agree >> yesterday in the morning we hit real extreme oversold levels, you know, we were already extremely over sold and then another 3% decline into the open, and at the open, it was all selloff on the russia going into ukraine, and the market had been selling off on the prospects of that for the last severalweeks i think part of it was just shorts in the market coming in, covering, and it created a vacuum, and what's interesting is you have stocks after hours look at square or you look at etsy they're up 40% off their intradaylows yesterday their still down on the month. these kind of moves, to try and

read too much. everyone wants to say is this the bottom, is this the bottom we're just going to see these kinds of moves going forward on the day-to-day for quite some time, i think. you know, it's a headline driven market, and as we get some resolution, see what happens with russia and ukraine, then we focus back on the fed fagain. i think you want to have exposure to some growth. you don't want to have necessarily hyper growth section of the market here, the fed hasn't hiked rates once yet. and more conservative tech is certainly an area you want to be involved in. >> yeah, you did point out earlier in the week that the nasdaq decline now is pretty much average since its founding in the '70s. we got to that 19-5 or, so and it's happened in a pretty fairly compressed time. i do wonder, though, these analogs to 2018, were fitting pretty well, but does ukraine make a lot of that invalid now

>> i mean in the short-term it makes a lot of it invalid. i think these chief political events, we look at every one of them and we say, oh, this one's different and it's more meaningful and more impactful than the last one or the ones past but in the moment, all of thes geopolitical events always seem like their really bad and much different and a year from you, you look back and say, you know what, maybe that wasn't so bad investing in everything in life, it's a lot easier in retrospect than the present moment. in that respect, as we move on, the russia/ukraine will be less of an issue and we'll be back to focusing on the fed again. >> hey, paul, it'syou've calledm a leading indicator before does that hold up in this market environment and what are you seeing >> i'm glad you asked that people are so ultra focused on the day-to-day moves in the

market that we're seeing but what's really interesting here, the semis, coming on for years now, talking about how semis are a leading indicator of the economy and the markets, and you look back throughout history, and you see that. what's interesting is in early january when the s&p made a new high, the relative strength of the semis didn't confirm that high and then what we're seeing now, though, is the opposite. we're seeing the s&p make a lower low. i don't have if you have the chart, but the s&p made a lower low, but the semis relative to the s&p 500 have actually been making some incremental higher lows, so that's an encouraging thing to watch for, as we move forward from here, and in the most recent selloff here, i think only about a handful of semis have made new lows relative to january, less than half of the socks made a new low in february versus their january

lows, and i think only four of them have made new 52-week lows in february, so that's something to watch, a leading indicator to show some signs of stabilization. that's what we want to look at and find and see to make us more constructive and more positive that maybe this growth move will have some legs. >> paul, do you think any european economic impact from this ukraine invasion is priced into stocks at this point? i mean, we've got the higher energy costs we've got commodities spiking. we've got whatever the emotional and sentiment impact of this across europe is going to be the comp's going forward are going to be somewhat challenging for companies probably in how they're doing business in europe is that priced in when you talk about the possibility that we'll get past this and look at the fed as being the main driver

>> yes, john, i think, again, there's going to be an impact of this, but you know, we've been selling off in the market for a month now on these moves of what's going -- of russia building up troops, and when you put over a hundred thousand troops on the border, russia wasn't just doing that as a bluff, you know, so i think markets were anticipating that there was going to be some sort of the movement here and hence the weakness that you saw. back in desert storm, we put in, you know, in 2003, we put i think 250,000 u.s. troops going into iraq, and we eventually moved into iraq, so i think the markets were anticipating this move there's going to be some short-term impact, but oil since actually the movement happened yesterday, oil, i think it's -- last i looked this morning, it was down since then. again, market tends to price these things in ahead of time.

>> yeah, oil is down this morning, and we have been talking about the xle being down for the month. finally, paul, you know, you've done a good screen of names in tech that are low multiple and high yielding at the same time and it's a lot of old school tech i wonder how you balance those benefits with the view that a lot of these names may be vulnerable just competitively. >> you know, it's interesting, you look at the names that have the lowest multiples and highest yields you wouldn't even, you know, a lot of people wouldn't know they were tech stocks still you have like western union is one of the names, both hps are part of the list you have seagate, an interesting name there, pays almost a 3% yield. there's always concerns over that company's future. it's been like that for years. i mean, just at their competitive threats b, but they constantly have delivered over the years.

those names are boring, they're not going to be the most exciting names we talk about on cnbc every day, but they have held up very well this year. some of them are actually up, but the few tech stocks that are up, whereas the high multiple, low or no yielding stocks are down an average of well over 20 percentage points so far this year so i think, you know, boring in these kind of headline explosive moments is usually pretty good. >> yeah, some days, paul, i wonder what we would do without the spoke. a really valuable tool as always >> what would we do without you. >> see you later. mutual appreciation there. meantime, social media is once again having trouble combatting misinformation and disinformation, this time on russia's invasion of ukraine our julia boorstin explains, and we've seen this before the question is how has the play

book changed >> look, the social media platforms are right now battling a surge in misinformation and disinformation we're seeing video game, historical and fake footage posted by users on various platforms. those users saying that it's contemporary from ukraine. we've also seen instagram meme pages falsely promote videos saying it's from journalists on the ground we have seen many of those accounts taken down, and facebook saying it's established a special operations center and has launched a feature that enables ukrainian users to lock their profiles so people who aren't their friends can't see their photo or any of their posts. nick klegg tweeting out, we're taking steps to fight the spread of misinformation and labeling content for, and our cyber security teams are monitoring closely for coordinated attempts to abuse our platform.

it's not just meta's platforms doing this tiktok users have posted historical videos saying they're capturing the recently invasion of ukraine, and the company tells us it is removing content that contains harmful misinformation now, meanwhile on twitter, ukraine's twitter handle asked the platform to use russia, saying they should not be allowed to use these platforms to promote their images while brutally killing ukrainian people now there are a couple of platforms that are benefits from this conflict right now. encrypted messaging service, signal, to be the number one free yiphone app in the app store. and ukraine's president and other ukrainian officials along with the publication kyiv independent used telegram to share their news

guys >> appreciate that >> julia, as usual, a lot of the focus is -- sorry, carl -- a lot of it is on facebook and twitter, and increasingly tiktok, what about you tube, that has the same issues with misinformation, is there a special operations unit there? are the problems different how are they dealing with it >> yes, you're absolutely right. you tube also hat the same issue of people are able to post a real video taken ten years ago, saying it was just taken yesterday. you tube is dealing with these issues they have similar policies about pulling down any video that could incite violence or that violates its terms of service, but one thing that all of these companies have told me as i've reached out to them multiple times. this is a whac-a-mole situation. some is pulled down, and then people report it, and then it

has to be pulled down. so this is going to be a really tough battle this is really a test of these platforms, deidra, especially as you think about the regulatory consideration of whether or not section 230 should be changed to hold them more accountable for the content they share. >> the same dynamic we have talked about for a while with a whole other chapter. julia, thanks. we have some remarkable trading activity dow is up 612, which now makes it the best day of the year for the dow jones industrial average and remarkably given all the news of the week, the s&p is now on pace for a weekly gain.

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welcome back, the indices might be slightly higher, zscaler, a big reversal from the 10% gain yesterday cyber security was one area in the green into what russia ukraine conflict prompted fears of attacks and the light guidance in this case, that is concerning investors this morning, a number of price target cuts, also weighing in on the stock web bush maintains its out perform rating, saying zscaler

is in its new days, the stock might have taken a hit this year but still up more than 300% in two years. ceo jay chowdry joins "mad money." both beating the streak, revenue and earnings, coming in above the consensus, but coin base shares, they were lower this morning, after projecting lower trading volume for the current quarter. meanwhile, block is surging, if that's still the case, these markets are moving quickly joining us for a closer look, managing director and senior fintech analyst, dan dolov, maybe let's start by breaking down chains, right now, they have very different purposes, both ultimately want to be that sort of one stop fintech shop for a younger base of users. who's better positioned? >> you know, one single word,

block square right, they're already there. they have the point of sale business, the cash app, which is usually successful they are allowing people to trade bitcoin and they are thinking further out, which is kind of a fiat to crypto protocol which is going to basically create a global f to p network. 100% square or block over coinbase >> you seem so certain in that, but i wonder, dan, if jack dorsey's bitcoin maximalism could eventually hurt where sort of the younger generation is going. coin has taken a much more web 3 focused purpose, you know, talking about dow tools, and an nft platform, so where this audience, where this group of users is heading is block still best positioned? >> yeah, i think it's actually a fashio fascinating point you're making. he is a max mallist.

if you read the protocol, they don't just talk about bitcoin, they talk about all of these currencies i think there's a little bit of a relaxation from the bitcoin maximalism on their side but i do agree with you on that. on the nft market, i think it's a very positive development for coinbase one of my issues with coinbase is basically if you think about crypto or, you know, bitcoin or block chain in general, it should be free it should be -- you shouldn't be charging these fees for that, so i think it kind of defies the purpose to have a scentralized marketplace. it should be decentralized and i think that's where square block is headed to, and that's not where coinbase is headed to. >> dan, that's an interesting point that you bring up. we talked to the ceo about this a few weeks ago, and he said that some of these platforms, he didn't call any out by name,

have hidden fees, so a coinbase, for example, has the transaction fee but there's also the spread that it's making that's unclear to the user right now, right do you think that eventually users wake up to that and this becomes a payment for order flow type thing where, you know, people want more transparency or the spread comes down for them, and thus their profitability >> so, you know, in a capitalist market, the spread comes down because of market pressures. like if you want to peek into the future, you look at, you know, robinhood, which we like a lot, which is basically offering it on a pay forward or flow kind of similar situation so they're essentially offering it for free that's where it's headed by the way, if you look at institutional yields, they have come down. they were two basis points versus over 100 basis points for retail, and they have been coming down. that's the future of crypto trading. it's not -- maybe not free, but essentially free >> yeah, and that's what robinhood is essentially doing last one for you, dan, something

that caught my eye in the block earnings was that customer acquisition cost for the cash app, $10 now versus an historic $5, what does that say about fintech as a business and a competition that has exploded over the last few years. what do you think the hack is for some of the platforms in the space? >> it's great insight. we noticed that. it used to be five, now it's ten. you could say it's inflation i don't know if that's really the answer i think what's happening is that you've reached sort of a very high point in terms of how many customers. they had 44 million monthly active users it's a huge number like at some point, you're really reaching every american with a phone, and so it becomes a little harder, a little more cumbersome to get the incremental customer o i'm not surprised the key question is the lifetime

value. if the lifetime value continues to expand. it doesn't matter how much you spend on the customer because they're very productive. >> right, and you think block is well positioned here don dolev, thanks for your insights as always talk to you soon. >> thank you. in the meantime, stocks continue to surge here dow is up 621, we're now closer to 4,400 than 4,300 after the reversal yesterday it is the best day of the year so far for the dow nasdaq is up a full percent. we'll get a live update on russia/ukraine after the break. meantime, the vm ceo is rngsg to join us to break down eain of the cloud when tech check comes back in a moment then your bank should help you budget even better. virtual wallet® with low cash mode℠ from pnc bank. one way we're making a difference. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed.

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welcome back to "tech check," i'm carl quintanilla dow is up 600. stockings are continuing to rally from yesterday in fact, the nasdaq's green for the week all sectors in the green

tech lagging on a relative basis. got come interesting trades as well etsy, stock was up 20% premarket. we continue to watch the trading on that. we had strong earnings, continues to benefit from the pandemic ecommerce boom and expects more of the same going forward. the stock is one of the pandemic winners like zoom or carvana that has been crushed in the last months. etsy still tripled since february of 2020 josh silverman was on squawk and andrew asked him about market valuation. >> i think we've seen an indiscriminate pull back on all the pandemic stocks, and i think the market is maybe scared whether all of the pandemic gains are going to dissipate and so it's going to take some time for the market to sort out winners from losers. what i'll say about etsy that, you know, we think the earnings report we gave yesterday demonstrated the durability of etsy's growth. etsy is now more than twice as

big as it was pre-pandemic in fact, we're twice as big in the u.s. we're four times as big as we were pre-pandemic in the uk. >> yeah, i think for me it comes down to it was really hard to justify the multiples that these names were getting before, and so now it's kind of hard to knock the multiples they're getting now. if you were to back up two years or three years and see where they were trading, and then, you know, put a dot where they're trading now, and then draw a squiggly line up, it would look pretty reasonable. it's still higher, just not that high and so i think there are a lot of cases where investors have got to decide how do we want to value these things >> yeah, where do they land, and i thought it was interesting how he was very aware of that sort of pandemic darling status, and speaking of that, carl, we do have a few more coming up, like zoom and docusign. those are big names, and we'll see what their fundamentals tell

you about that valuation level, where that falls. >> also hiking transaction fees from 5 to 6 1/2. we're going to bring the latest on ukraine and an exclusive with ceo of vmware after an update with rahel solomon >> good morning, and here's what's happening at this hour. austria's chancellor saying the eu will impose sanctions on russian president vladimir putin, and other european leaders say tougher sanctions are under discussion, including cutting off russia from the swift banking system ukraine says the national guard is taking up positions to guard kyiv from russian attacks. this as missile strikes continue in the capital city. officials say that russian forces are facing more resistance, and attacks continue on multiple fronts there the federal revenue's favorite gauge on inflation jumped 5.2% in the year through january. the core pce rose slightly above estimates, it's the biggest annual rise going back to 1983

personal spending shot up more than 2% just in january. personal income was flat for the month. >> and johnson & johnson and three drug distributors have finalized a $26 billion settlement over their role in the opioid addiction crisis. it's the largest opioid settlement yet today's announcement clears the way for the money to flow to nearly every state and local government in the u.s. i'll send it back to you >> thank you let's get more on the rapidly evolving situation in ukraine. president biden speaking to nato leaders from the situation room for an emergency summit this morning. our steve sedrick is live from krakow with the latest steve. >> reporter: there are so many levels of what this story is going on at the moment the most important and critical is like we heard in the news there, the battle for kyiv has begun. the mayor of kyiv, the former champion boxer, talking about a defensive phase, and it's all

kinds of contrary evidence about what's going on. some people saying the russians are finding heavier resistance we heard the defense minister of ukraine talking about large numbers of tanks and armored vehicles having been destroyed the russians are disputing that and making ground across the country and getting key targets, including a key airfield northwest of kyiv. this is going on in other levels, the sanctions and political level as well. we have heard about eu sanctions, sanctions on the assets of foreign minister lavrov of russia, and of course president vladimir putin as well, and the huge debate going on, transatlantic is whether to ban russia from the swift payment transaction system we understand the british prime minister boris johnson is keen on that, americans could be persuaded but olaf scholz is against it because of the ramifications it could have for european energy supplies and the payment of those to russia if europe is cut off from the russian energy supplies as you know that is a hell of a lot of gas and oil which will not be getting to the european economy,

and especially the german economy. very interesting seeing what's going on at a nato level as well one of the reasons i'm in krakow, not a far distance from me, there's a huge build up of american boots on the ground, we have the 82nd airborne, nothingly out of fort bragg is here on the ground 4,700 troopers from that division are here as well. plus other u.s. troops in the country, plus 16 f 15s flown in from the uk and indeed from the united states as well, plus apache gun ships and we saw the staggering picture of the f 35 being fueled nato is seeing a larger build up for a defensive reasons such as poland poland is one of the biggest nato spenders especially in eastern europe and the prime minister in the editorial has been very aggressive in the last 24 hours saying now is the time for the eu, the uk and especially the united states to come together and start facing down the threats that they should have faced down many

years ago of russia as well because he's saying the prime minister of poland that russia will not want to just stop at ukraine. it will try and erode the situation in the baltic states, lithuania, latvia and estonia, and poland as well we know historically has been right at the center of these events and of course geographically as well here in poland, we have 332 mile border with ukraine, and of course we are expecting at some stage those u.s. paratroopers to potentially be helping in a humanitarian effort if indeed we see this flood of refugees coming from across the border, coming west from the west of ukraine over the border towards where i am now and the likes of krawok and the final area is the talks, we have heard that the russians are potentially open to talks, but on their terms and their terms which i don't think at the moment the ukrainians can accept at all

including having those talks in belarus, which is a key ally of president putin, president zelenskyy is saying that isn't on the table back to you all. and turning to vm ware, shares trading gains and losses, now about flat this morning, on a beat on the top and bottom lines. guidance is what has investors concerned, both eps, and revenue for q1 coming in below street estimates. for more on the quarter we are joined exclusively by rangarajan raghuram let me start with the troubling situation that we see in europe. the cloud and this digital revolution that we're seeing is global do you have any expectations based on your customer that is do business in europe how this will affect not just vmware but

the overall industry >> yeah, so great to be here great to meet you. clearly the situation in europe and specifically ukraine, very critical lots of ramifications but also dynamic and day-to-day our thoughts are with the people that are impacted as well as certainly our employees and our customers and the folks that we work with. you have questions specifically our customers in europe and worldwide certainly are watching the situation very closely they are not indicated any new plans to us, but the trends that they are undertaking are secular trend, they're reacting to secular trends in their business the need to become digital, the need to become modern, software centric enterprises, taking

advantage of the cloud, making sure they have protected their digital assets with cyber, making their employees working from home very productive. so these secular trends that they're talking to us about, those haven't changed but for sure this is a very dynamic situations and the changes could happen day-to-day. >> getting into your corner specifically, i want to ask about billings i believe they're at 4 1/2 billion, a hair above. and some people were hoping for 5. how does the shift towards subscription play into that, and how do you expect that to develop for the rest of the year >> yeah, so we are very pleased with how we finished up last year we set the stage for acceleratingour subscription side of our business this year from product innovation perspective as well as getting our go-to-market engine revved up to accelerate our subscription business.

this is reflecting how customers want to consumer our software on a day-to-day basis, and so we expect to see that happen in terms of how we can accelerate our customers moving to the cloud and using our products and that is reflective in revenue for forecasting for this year but we're guiding for this year. as you well know, with subscription revenues increased, that is some impact that the mixture has on the top line, and that's how we came to our guidance. >> indeed. now, you talk a lot about multicloud, and that's always been or long been, i should say, a big piece of vmware's story. more and more as i talked to companies in the space, multicloud, and wanting to be the vendor of choice to drive that transition and that movement is in their cross hairs, so what's your unique strategy, perhaps even given vmware's $50 billion market cap to make sure you end up winning

as so many are running for that goal. >> that's a great question multicloud is a pervasive industry wide phenomenon, and different companies focus on different parts of the multicloud opportunity for us as vm ware, what we focus on is helping enterprises t transform their enterprise applications into cloud applications on the cloud of their choice, as we all know that multiple big cloud palatfor providers, providing these capabilities vm ware strength is threefold. number one, we have been the foundation for our customers for the last 24 years in their data centers. all of our customers team they trust vm ware. we are in a position, if you will will, to help them on their journey to modernization and the cloud. our portfolio is very unique it solves the problems, not only of accelerating how they can

build these new applications it solves the problems of how they manage it, how they govern and control it how they secure it, and how they connect it back to what they already got on premise or in other places, and then the third advantage that we have that is very unique is since our spinout, we had a stand alone independent company that has the deepest of partnerships and all of the hyper skill providers, and all of the cloud providers, so we are in fact the switzerland of the industry, and there is no single company that can offer these three advantages to enterprise customers, and what customers often tell us, we address a critical piece for them, time, talent and trust the time it takes for them to go to the cloud, make it possible for them to do it with the talent they have and of course we have the trusted foundation. >> raghu thanks for joining us,

i hope you will continue to as the story plays out. ceo of vm ware. >> yes, thank you very much. let's get a check on crypto this morning as well bitcoin and either rebounding today as ukraine central bank suspends electronic cash transfers, we're going to break down how some of these potential sanctions affect crypto. after the break, the dow hanging on to a gain of almost 600 if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions,

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ukraine central bank suspending digital payments overnight as part of marble law during the russian invasion. kate rooney has more on how this impacts the case for crypto. and there are so many different facets, being treated differently in russia versus ukraine versus other places in the world. >> that's right. we're seeing that play out in realtime, and those new electronic transfer rules in ukraine don't apply to cryptocurrencies yet i'm told that could change in the coming days. but crypto has been emerging as a viable alternative in eastern europe sources tell me it's a lot more viable in ukraine right now versus russia. ukraine legalized bony as part of a wider push to accept crypto chainalysis rates it number

464. we have seen a surge of donations to the army, stable coins as they're called. they're also trading at a premium, that tends to be a sign of demand. russia has flip-flopped on its policy it looked to ban the industry a few weeks ago. crypto is not widely accepted for transactions there, and an alternative finance system could also threaten putin's autocracy. that's something sources very pointing out, and russia is developing its own central bank digital currency the u.s. and nato allies have not locked russia out of the s.w.i.f.t. system. we did get headlines that the german finance minister is open to that and cut russia off sanctions may drive demand for crypto it's harder to evade those, especially for the average russia citizen using an exchange he said global exchanges work closely with law enforcement to shut down elicit or sanctioned

accounts he said it's also pretty easy to track. >> criminals will choose to use bitcoin because it's sort of what you're told you're supposed to use to launder funds and then they'll like get caught. and i think maybe in retrospect regret having done it, and, you know, it's what i must imagine is happening it is actually pretty traceable. >> chainlysis said they're not seeing unusual transaction volume out of russia or ukraine at this point. russia's elite and financial authorities have been preparing for sanctions for months now if they were going to move large amounts of crypto, they probably already did that guys >> yeah, kate, thank you so much so many different facets and ways of exploring this, especially the role of crypto and the current situation. stay up to date on all things crypto with our digital show "crypto world" watch at madmoney.cnbc.com/crypto world

"tech check" is back in just two. alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots. we going to the league!

. got some news alerts on meta and facebook julia boorstin is watching that. julia. >> that's right, carl. russia's communications regulator said just today that the company was partially

limiting access to meta platforms facebook, saying this is in response to restrictions that the social giant has imposed on russian media accusing facebook of censorship. this russian regulator is saying that facebook limited the official accounts of four russian media sites saying such actions against russian internet resources and the media are prohibited by federal law. now, we have reached out to meta for comment. we have not gotten a comment yet back about this, and it is unclear exactly what these restrictions on the social platform are or will be. guys, back over to you >> julia, i know you'll be tracking it, and bring us any developments up next, the musks are in hot water, the s.e.c. reportedly probing elon and his brother for insider trading following their tesla shares sales earlier this year, we'll bring you that in a n'gonyertes. dot awhe.

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let's get a gut check on apple. revenue for the app store surged in 2021. sales from the top 100 nongame subscription apps is up more than 30% year on year to 13.5 billion worldwide almost triple the revenue from google's app tour. number two, tinder then 10 cent video rounding out the top three. apple of course bounced right off that 200-day yesterday of

151, which some saw as a very critical ground to hold. >> been making more today on that app store interesting to note, too, a number of apps in the top ten was -- were chinese apps 'rgo, rom the s.e.c. today wee ing to talk about this a little later let's get to a break we'll be right back.

once again, his brother kimbal musk reportedly under investigation after selling tesla shares a few months ago. robert frank breaks down the controversy. robert. >> john, as with any insider trading case, the question for kimbal musk will be what did he know, and when did he know it. he's a board member, insider trading rules prohibits employees and board members from trading based on material nonpublic information. the issue here is kimbal's stock sale a day before elon musk tweeted out that poll, so here is the critical time line. on september 14th, elon created a 10b51 stock program to sell from shares. this was not announced to the public at the time on november 5th, kimbal musk sells $109 million of his tesla stock. that's more than 15% of his

total holdings he sells at an average price of over $1,200 a share. the next day, elon tweets out about that selling 10% of his entire stake tesla shares fall 14%. on november 10th, that's the first of his sales that reach 16 billion by the end of december tesla trading at about $800 a share. that is 35% lower than the kimbal musk sale price elon musk telling the ft, kimbal had quote no idea i was going to do this poll and that the tesla lawyers were notified. so guys, total coincidence here according to elon musk >> robert, remarkable. all the headlines this week regarding tesla, and the s.e.c., the back and forth, we'll see how much that heats up in the coming days. that's our robert frank. remarkable week, john,s as we

mentioned. does make it the best day of the year for the dow. >> and we have been reporting on earnings happening as well question is how, if at all these geopolitical issues are going to impact the stocks themselves >> a lot of data next week as well, including ism, powell and a jobs number. let's get to the half. >> welcome to "the half-time report," i'm melissa lee did stocks hit their lows, and is it time to start buying beaten down names. that and much more with our investment committee today liz young, amy raskin, steve weiss, and let's get a check of the markets at this hour the dow is rallying on track to the best day of the year the s&p 500 trying to break a three-day losing streak. we are at session highs visually on s&p 500 up by 2%, the nasdaq is up by 1.4% and take a check on the ten-year yield, cep