a percent. the nasdaq and what's going on there. many names in the green including apple and metta and alphabet as well should point out gold has moderated its gains and bitcoin actually up some 4%. that will do it for us on "squawk on the street. "techcheck" starts now ♪ ♪ good monday morning and welcome to "techcheck" i'm deirdre bosa with jon fortt, carl is off today. global markets on the move as investors weigh the impact of increased sanctions, heightened volatility and exclusion of russia's biggest banks from s.w.i.f.t. from financials to crypto, we're breaking down the impact plus, russia and ukraine's information war. how companies across the social

space are dismantling vladimir putin's media machine. finally a check on the chips. do not miss qualcomm talking global growth, supply chains and a whole lot more, jon. >> yeah. dee, stocks are mixed today. tech is the outperformer the nasdaq in the green yet again and what's already been a volatile response over the day and the last ten days. today the market responding to increased sanctions in western countries pledged to remove russian banks access to s.w.i.f.t., which connects financial institutions around the world. leslie picker has more on the sanctions and the possible financial fallout. leslie >> hey, good morning, jon. the concern surrounding s.w.i.f.t. is sanctioning russian banks from the messaging system will cause missed payments and giant overdraftings kicking any russian banks off s.w.i.f.t. is akin to those banks disappearing overnight from the perspective of the international banking community. however, russia appears to be somewhat insulated from much of

the global system. among the u.s. banks, only citi group has material exposure according to a new note this morning by goldman sachs citi has about 5.5 billion dollars worth of loans, unfunded commitments, investment securities and trading account assets as of the third quarter of 2021. jp morgan in a note this morning saying, quote, the impact will be limited at the global scale as the oversea's exposure of russian banks and financial system is relatively small but a closely followed rate strategist said bank's inability to make payments due that their exclusion from s.w.i.f.t. is the same as leeman's inability to make payments due to its clearing bank's unwillingness to send payments on its behalf. the issue involves counterparty risk any global firm had a swap-out standing with a sanctioned firm could be met with a counterparty that's unable to pay but this market is opaque, so it's unclear at this point in time where the risk lies and how systemic it is

another thing to keep an eye on, guys, this is right up your alley, russian adrs in the tech space in particular that includes the google of russia and ozon, the amazon of russia, listed on u.s. exchanges, halted today. they have big american investors according to fourth quarter filings. it's unclear how much of these adrs they still hold at this point in time, but one would expect that as you can see there, now down 21% for yandex and 1% for ozon. facing steep losses at least on papers if they're still holders, deirdre. >> not just funds some american corporations as well uber still has nearly billion dollar stake in yandex leslie, thank you for that. mike santoli is back putting today's market response in context. choppy again. >> it sure has been.

absolutely the ukraine situation since the invasion has been the main focal point and the reason for 2 to 3% swings back and forth. it was so wide last week overnight and intraday action down to 4,100, closing in the high 4,300s. that's a wide span any action between there is really a little noise including all of the action today. what's interesting is the russian/ukraine situation really did create an excuse or plausible reason for a retest of the january 24th low the intraday low january 24th was more like there. what you look at for some kind of retest or the defining of a bottom of a trading range is a lower price or near the same price in the index but less downside momentum, fewer stocks making new lows all those things pretty much lined up so at least a low in place if not ultimately the low. take a look, though, at what's been going on in the nasdaq 100 relative to the s&p the last year this argues against the idea

that ukraine is main thing going on in the markets with s&p down 9% because you see right here, the nasdaq 100 relative to the s&p kind of rolled over in two waves. well before this was the main issue. and what's interesting here is whether this becomes some kind of a relevant level and maybe the relevant performance today is telling you that the nasdaq is on a comparative basis sold out versus the broader s&p 500 i would point out coming into today, the average pullback in a nasdaq composite stock was more than 40% from its high >> wow mike, thank you. and for more now on the market fallout, let's bring in wedgewood partner cio david rolff. good to see you this morning, david. now, this crisis this conflict, this war in ukraine clearly just massively important from geopolitical perspective and the human cost in the market, though, how much are you paying attention to that in particular? >> well, certainly our eyes are

on it like everybody else's. we don't have an edge of trying to think this through, but we just hope that the news doesn't get worse. there's been a lot of damage already in some of these stock sectors. and if we get a better resolution, there's quite a few of these tech stocks that are pretty darn cheap right now. we hope for the best. >> what i keep trying to figure out, david, is what is the impact in europe to the real economy, to actual demand, to consumer and business behavior perhaps we'll hear more about that in the next round of earnings, april/may. but do you expect it to be nonmaterial? is it already priced in? >> it's probably getting priced in but it is going to be material when you think about just the commodity cost from so many companies where their input costs are either heavy on energy, commodities. we have even seen that in some

of the european food companies of their input prices where the hit to margins as they've been reported, some of these companies don't expect to claw back that margin hit with higher prices themselves for a couple of years and so, this just makes that situation worse and i'm sure in some sectors n some countries, they're probably teetering on the brink of recession right now. >> hey, david. good morning it's deirdre. how are the latest rounds of sanctions investing impacting how you're thinking about investing? i mean, we're early on but there's so many unintended consequences and feels like the tech sector growth stocks are reacting to potentially, you know, less aggressive fed. but, are they taking into account the impact of those latest sanctions >> slowly but surely but, as the previous set mentioned, what mike mentioned, that the average nasdaq stock has been hit hard, even beyond

what we think might be the fallout and if it's in the prices, there's still at least in our opinion more than a handful of tech stocks that have become so cheap based on their own issues, their own problems f you will, that we think you need to be buyers here. >> i wonder if you're talking about metta, also known as facebook at least as of the endof 2021, i believe, it was your second largest holding. boy, has it been pummelled it's now a little bit below, i think, the 2020 highs pre-pandemic are you still holding as much of that as you did? are you adding to it what do you do >> we haven't added it to. we think the next reporting event will be a significant clearing ent they'll be lapping the privacy issues from apple. the last conference call was very difficult, if you viewed it from the lens of a lawyer fighting off the ftc it made a

lot of sense certainly zuckerberg went overboard in trying to explain how much competition is out there and that they're not a monopoly but that said, jon, when you look at the current price and evaluation, the market basically, in our opinion, has priced in little to no revenue growth over the next few years even thousand they bought back a lot of stock last year at obviously significant higher prices and we expect the buybacks to continue, they're buying back stock at a minimum, mid if not high single digit free cash flow rates those are extremely acretive so as the volatility continues, we hope we have opportunity to add to our positions but, you're right. we went into this with one of our larger positions and we got the scars to -- and the bruises still to show for it. >> indeed.

that's part of it. however, as you know as well as anyone, david rolfe, thanks. >> thanks, jon well, tech companies they are responding to the crisis in ukraine. ukraine's vice prime minister called out elon musk on saturday for caring colonizing mars than the invasion and asked him to provide the country with starlink internet access musk replied that the service had been turned on and terminals are en route air b-n-b are working to provide 100,000 accommodations free of charge protecting their staff, both committing publicly to temporarily relocate their full-time employees to other parts of ukraine or neighboring coun countries. a u.n. commissioner tweeting more than half a million people have already fled ukraine. jon, this is conflict in the digital age and what we are seeing is so remarkable. many more examples not just of what the tech companies are

doing but how internet platforms are being leveraged by users, by world leaders. >> yeah. and we're going to talk a lot more about that. i particularly have been impressed by the way the ukrainian leader zelenskyy used not only social media and video communication to perhaps shift the tide somewhat. he is outgunned but does not appear to be outmatched when it comes to communication we'll watch that. up next, social media's role in the response to ukraine from the war of popular opinion to misinformation to the real dollars at risk. facebook's former security head joins us next. "techche" stetng ard.ckju gtistte

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the internet continues to be a battleground in the ukraine invasion and google over the weekend taking a number of steps to limit russian channels. while stopping short of an outright ban on the platform, it did stop russian-state backed media including russia today from monetizing ads on their websites, apps and on youtube. youtube also limiting recommendations to those channels, citing, quote, the extraordinary circumstances in ukraine. google later adding, it too was barring russian-state backed media from using its ad tech to generate revenue on their own websites and apps, jon. >> yeah, dee social media has been at the center of this crisis.

on one side, ukrainian president zelenskyy has been able to capture both domestic and international support with video es like this, selfie style shots that have gone viral washington post his personal appeal via video convinced eu leaders to send increased sanctions against russia it's been a steady information on social media platforms including scams and russian disinformation campaigns our julia boorstin has more on how social media companies are trying to handle the conflict. julia? >> that's absolutely right, jon. it is a conflict because on one hand social platforms are fighting to keep offering their communication tools on the other hand they're also trying to prevent those tools from being used for manipulation and spread misinformation russia is limiting access to both twitter and facebook for facebook they say that's response to the fact that its fact-checking russian-controlled media content. twitter is suspending all ads in ukraine and russia while google,

youtube, twitter and metta announced they are blacking russia state media from running ads and making money on their content. metta's head of security said that they see value in showing people what misinformation is being shared rather than blocking that content entirely, but they are evaluating taking further action >> we see requests from a number of governments around the region, and a number of things they've asked we are already, in fact, doing and we started doing proactively. on state media in particular, we are already blocking ads and demontizing russian state media anywhere in the world. >> metta announcing its identified a misinformation campaign aiming to make ukraine look weak. also a separate hacking phishing attempt. >> the threat actors that we took down just yesterday, the influence operation, they were linked to a previous operation that we found and removed back in 2020. and the good news here isthat the operation from 2020 reached

about 250,000 people before we took it down this operation reached less than 5,000 followers on facebook and instagram before we took it down that's a pretty good sign. >> he told me that meta is actively collaborating with its rival such as youtube and twitter to help battle these threats. he said that they don't compete when it comes to security issues guys >> julia, is demontizing state media really a big issue my impression is that making money isn't the main goal here if they're trying to get a certain kind of message that might be distorted across, right? they're trying to win hearts and minds, not dollars >> well, look, if you're a popular youtuber and all of a sudden you can't make money in russia, let's say you're a popular russian youtuber and can't make money in russia, that might help participate, become sort of this public pressure to say, hey, we don't like what

this is doing to our business. i think there are different pieces at play here. obviously the big question is whether falsehoods are being spread but once you demontize all of that content, you have to wonder sort of how that is going to influence the people who are making money or had been making money to start speaking out and taking action themselves >> julia, thank you. our next guest argues that social media should be taking a stronger stance and that russian state media or what he calls the, quote, r.t. sin matdic universe should be banned from all services joining us now former chief security officer at facebook and now director of the stanford internet observatory alex stamos great to have you with us this morning. jon just brought up such a great point there is that, you know, hurting the ability of these platforms to monetize isn't really the point the point is not to monetize what stand do you think they should be taking why haven't they done it yet >> so there have been good steps we have seen i do think it's right to demontize these sites. it's not true that all of them

have direct funding from the russian state. actually the russian online propaganda world is really large and complicated. that's why i called it the cinematic universe we're not just talking about the big, professional outlets like r.t. and sputnik but there's this whole universe of websites that push extreme contend or russian propaganda but do have to support themselves i do think that's a good step and i think the steps that julia is talking about are support is going after the covert propaganda, these russian teams either creating lots of fake accounts and pushing propaganda or actually hacking individuals to try to turn their accounts into propaganda. i think the next step now for all the american platforms is they really need to figure out how do they handle state media from authoritarian states. we're not just talking about russia the biggest player in this space is china thanks to the hong kong crisis, thanks to covid. they need to have policies of how do you handle the official state outlets and the state

aligned media. and i think at this point there's two reasons to block russian state media. one, the platforms are now being blocked in russia. that was not true before for a long time russians had access to western ideas and to have an outlet on western platforms as putin tries to crack down internally, he is now going to be blocking facebook and twitter and probably soon youtube and maybe even some other smaller applications as that happens, i think a direct response should be to block state media. you should not allow authoritarian states to kind of control the conversation via censorship on one side and propaganda on the other. if you're going to have a free flow of ideas that's something you can shoot for, but that is not happening in russia anymore and that is the step that needs to be taken next. >> so alex, are you arguing that american technology companies should also be blocking state media? those accounts that have blocked them in their countries and are you saying they should be doing this proactively in china?

>> i think they have to do it proactively in china i think the problem has been -- >> alex, though, is there value, though, in showing people what misinformation is being shared as facebook's head of security has argued >> so i think nathaniel is right. i don't think what we want to do is we don't want to block any links to these sites it's somewhat of a nuanced position, but i don't think r.t. itself should be able to run youtube channel. ctgn, a massive chinese propaganda network should not be able to have tens of millions of viewers on youtube or twitter or facebook but what you can still have is people linking to their stories and talking about it organically. there is a difference between allowing them officially and then not doing things such as cutting off americans from pointing to these stories themselves. >> alex, are we wading into a different sort of territory here because the social media platforms, thinking of facebook in particular, seem to be taking a, well, who are we to say what's true position on so many

things therefore we'll fact check things individually but not necessarily block world leaders from twitter i think was in this position, too, from saying things it's important for them to be on the record, but they're facing pressure in this instance to do something different, are they not? should they? >> well, this pressure has existed all the time the big kind of argument over the last five years and will continue to be the big internet policy issues the next five years is what laws do these platforms have to follow if you ask these companies do you respect the law? yes, of course do you respect human rights? yes, of course doing both those things at the same time is impossible on a global scale it's time for them to -- this moment is a good moment to shed the neutrality you're talking about. the truth is you can't find a neutral viewpoint on a war like this and try to fact check your way out of it. it is impossible to know what is true or not true in the heat of

moment but what we do know is that russia is the aggressor state here russia has been using their state media outlets as spreading propaganda we know not to be true instead of going on a point by point basis of every single claim by russian tv, in this kind of situation, blocking official russian state media outlets is an appropriate move. >> so, does this become a difficult standard if it's perceived that the u.s. takes a preemptive military strike against another country and in the future there's a president that's using social media to talk about it? i mean, i can imagine somebody saying, hey wait a minute. >> absolutely right, yeah. that does become a big challenge. obviously the united states has been in wars that a lot of people believe including me to have been misguided and offensive. you could have seen if this policy -- if social media exists in its current form in the iraq war, that blocking certain kind of state aligned media, i think a little bit of a difference is

in the u.s. we don't block other viewpoints, right? that especially in the chinese situation that is what's happening here is that the chinese government has the only chinese people who are allowed to get on twitter or facebook are their propagandists. normal chinese citizens are not allowed to see differing viewpoints that's the basis of a lot of these changes. you don't want -- censorship plus propaganda to distort the entire conversation. >> a lot of those users do use vpn to get past the firewall you had interesting comments on the role of crypto currencies in the crisis you actually see this as an opportunity for legitimate crypto currency companies to step up their compliance and actually stop sanctions violations, which kind of goes against what some people may have thought the role of crypto may be in terms of nonmon nenty. >> that's right. i think this is a huge challenge for the crypto currency world. it is a possible opportunity for those companies that want to

legit jiez crypto currency we have never seen so many very rich and very technically savvy people trying to defeat sanctions. we have never cut a country like russia off from the global economic system. russians are very good at tech they have a lot of people done a lot of work in crypto currency then on the black market side, russian ransomware gains are some of the absolute best in using crypto currency to both hold up and to get ransoms paid and launder that money so i think this will be a huge challenge for crypto companies they have to have a plan right now of the tens of thousands of individual participants in the russian economy who have the money and the technical means are going to be trying to use crypto currencies to get around these sanctions. mow a how are they going to act? there's an opportunity to demonstrate certain companies believe that no your customer laws are appropriate, anti-money laundering laws are appropriate and proactively go out and stop this and if they don't and crypto currencies becomes a

sanctions beating regime here, that will be a huge problem for crypto in the long run. >> well, it will be fascinating to see which way this plays out or maybe both. alex stamos, thank you very much >> thank you stocks meanwhile are mixed s&p close to break even. nasdaq in the green, but here are the stocks on the nasdaq that were pushing it lower once again, we're well off the lows that we saw overnight booking holdings, pepsico, gilead, mondelez among those in the re eche" ckn two.

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welcome back to "techcheck" i'm jon fortt with deirdre bow is a stock futures were down sharply overnight. now two hours into trade, the nasdaq has gone positive the s&p just peeking into the green for the first time moments

ago. the clou cloud index up better than 2 mrs arc's flag ship fund up nearly 5. first a news update from rahel solomon. >> good morning. here is what's happening at this hour u.s. official says that russians have been frustrated by their slow advance on kyiv ukrainians released burned out russian armored cars and trucks following a battle near the capital. and in kharkiv, authorities say that at least 44 people were injured in attacks over the last 24 hours and 7 dies in hospitals. and new reports now say that at least 11 people were killed this morning after russia launched missile attacks. bp is exiting big stake in russian oil giant. the move could cost as much as $25 billion. unclear how bp will die vest its position shares of bp trimmed their

losses now down closer to 5% after falling as much as 8%. the international olympic committee is urging all sports federations to cancel or move sports events in russia and belarus. it's also recommending russian and belorussian athletes be banned from international competition. you're now up to date. deirdre, back to you. >> thank you now, you heard jeff richards with us last week call the bottom for software stocks, turning point this week was zoom and salesforce reporting earnings with us now on how to play the sector amid geopolitical tensions abroad is tyler what do you think, have we hit a bottom for some of these soft ware high momentum names what are you doing at the moment >> good morning. thanks for having me i think we've clearly seen a rough start to the sector this year a lot of these stocks are down 30, 40%. on track for one of their worst starts to the year in over a decade as you mentioned, we have seen a number of earnings thus far

mainly from the companies that have year-end closes in december salesforce will be a big one to watch here as well as zoom tonight. we're cautious on those names in particular i think with zoom, that company clearly benefitted from some of the dynamics during the pandemic and we're just concerned that growth is going to continueto slow worse than investors are expecting. you know, on salesforce for us that one is really just a function of the market environment and specifically our concern that as these software multiples go lower, that that actually raises the risk of them doing larger m & a which has been an issue for the stock in the past. >> tyler, with zoom and docusign, these two were really some of the pandemic darlings. the poster chin of high growth momentum names what are you expecting from zoom and if it disappoints, will that have an affect on the wider sector >> yeah. so i think zoom is kind of a key

play on obviously the work from home, hybrid work dynamics that we saw during the pandemic communication software so there's a number of names that are kind of attached to that broader ecosystem docusign, as you mentioned is another one that benefitted from kind of the shift to digital during the pandemic. so, i think the natural read-through for investors is that, you know, the results for zoom should have implications on the broader group. although i would say that docusign and zoom, there's a lot of distinctions between these two business models. but i think the way that investors look from a basket perfective, work from home, reopening play, those two stocks should have some correlation. >> the high growth complex as a whole seems to be responding more to the prospect of less aggressive fed in the year ahead. are they taking into account sort of the geopolitical, perhaps unintended consequences of the sanctions that we have had rolled out over the last few

days >> yeah. it's a tough one i think for software stocks in general, you know, the exposure to the geopolitical at risk areas are largely pretty small from an overall revenue perspective. predominantly these are business models that have most of their revenue generated from u.s., north america, western europe, right? i think the concern is that if this conflict spills over into broader regions, does that start to put some pressure on i.t. budgets? so, i think that is just something that investors are trying to handy cap that risk as we go forward, but from a pure exposure perspective, there's not a whole lot directly related to that, but obviously it's hard to really be confident in how this situation progresses. >> certainly tyler radke, thank you for being with us. we'll talk to you again soon. >> thank you tesla meanwhile a bright spot in a tough trade this morning. but bernstein remains mixed.

upping price target but still seeing shares falling up to 40% from their current levels. read why on cnbc.com/growth. we're back in a minute

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as russia's invasion of ukraine continues, tech leaders gathering in europe for mobile world congress joining us now on first on cnbc

interview from barcelona, qualcomm ceo welcome. you guys have some announcements across automotive, pc, moe dums and more gsma holds the conference just cancelled the russia pavilion there. i understand you historically at least have had some employees in ukraine and a couple years ago were working with the russian government to build up 5g in the area how do the latest developments affect both with what you're doing with your employees and your approach to russia itself >> hey, good to talk to you. and it's huge, jon look, first of all, this is a very sad situation it's hard to believe what's happening. even if you think about a week ago we would be seeing some of the things that we're seeing right now, it's very sad i think we're just, you know, hopeful that things hopefully

will improve and reduce all the human suffering we see if anything, connectivity, is allowing the people of ukraine to show the world what's happening. but reality is for us, we do have an office in ukraine. we have been in contact with some of our employees. i think some of them were able able to relocate and find refuge in some -- about half went to a different country. we also have some employees in russia but we don't have a big business we have no direct business with russia mostly indirect to our customers. as you expect, like us and everybody else in the industry, complying with the sanctions and i think very sad that we're seeing what we're seeing right now in the 21st century. it's hard to believe >> it is indeed. you have, of course, been working on announcements there including next generation arm

pcs. i think this is the first time you and i have talked since arm, itself, was officially no longer going to be a part of nvidia has nvidia had hoped tell me about the direction, the emphasis on arm pcs and how that might be influenced by the prospect of an independent, public arm, what they plan to do in just a few months >> absolutely happy to do. we have some big announcement. i think one of the key announcements we had and we have many, we announced on stage during the press conference with lenovo think pad enterprise pc, pc designed for i think the future of work and productivity, which is windows on snap dragon. incredible 5g connected including 5g millimeter wave, 28 hours of battery life for an

enterprise device. so it's -- this transition is really happening we had 225 now enterprises evaluate windows snap dragon despite i think the sad situation we're seeing here in europe, it's good to see mobile congress back with an in-person attendance and the expansion of qualcomm continues we have positive momentum in all growth areas not only pcs but we make automotive announcements. announcements related to the metaverse, announcements related to the future networks and a lot of 5g. >> let's talk about automotive because you and i have been talking a lot about that before investor day and since cloud, snap dragon connectivity as a service and the tell maddics application framework, what role is qualcomm playing in enabling more services to be built on top of the car as it becomes more technologically advanced and connected to 5g

network? >> that's a great topic of conversation i think exactly how the last time you and i spoke, we see more and more the automotive industry being transformed they need technology partner they provide them a platform for innovation as they connect according to cloud, we know that the core company transform itself into a service company when you can distribute not only media and content but you have data for analytics and a lot of other cloud-based services as part of owning a car so we announcing at the show is for the first time now we're adding a significant capability to the qualcomm snap dragon digital chassis, which is connectivity as a service. we really build a platform for developers, which in many case could be the members of auto member ecosystem, oems to start developing service applications for the car, the ability to upgrade services on the car, the

ability to have a lot of personalized experiences and traction is very high. and it's evolution of the qualcomm automotive business given connectivity as a service platform. >> christiano, good morning. it's deirdre bosa. i want to ask you about the export ban i wonder what your opinion is on the state of chinese chip making can russia turn to chinese chips for more of the high-tech capabilities they typically rely on american companies for. how much progress have chinese companies made under beijing's leadership plans to boost the sector >> look, we know the semiconductors are important i think we learned to the supply chain crisis semiconductor they have very essential role in how we think about the future economy in our digital economy u.s. companies, and companies like qualcomm have a significant leadership position from the

cumulative r & d invested in semiconductor over the many years. we see right now more and more demand for products in china today, not only phones but also going to pc and other areas. i think we still have a significant lead over any ambition over building a semiconductor industry in china and we continue to partner with china for their semiconductor needs. >> at the same time, does geopolitical tensions sort of increase china's ambitions in this space does it make america's shift on the chips act all the more important in washington? >> look, i think at the end of the day, i think with these sanctions i think a lot of our customers who will be selling products to russia won't be able to sell products to russia but i think it actually underscores the importance of countries and i would say that's

not unique to china, unique to every other country, they're looking into opportunities to upgrade their economy with technology it's important to have partnerships with the united states semiconductor companies i think we would be one benefitting from that. >> christiano, give us a flavor, if you can, of the conversations on the ground there. always a great time to talk to leaders from various parts of the world. various countries. what's the sentiment based on what's happening there in europe how are the priorities perhaps for business and policies shifting >> great question. one thing that has been front and center and i was also before here, i was in munich security conference i think that conversation continues at mobile conference the issue of semiconductor chain

is still front and center. i think there's a lot of positive sentiment about the united states chip sector and now the european eu chip sect now the coordination between the two regions about how to make the most use of this i think the two regions had set up ambition to over time to produce at least 50% of its own semiconductor needs. i think the importance of semiconductors for the future not only the mobile industry but every other industry and the ability to have a gio graphically diversified semiconductor manufacturing front and center other topics is the evolution of 5g to virtually every industry, especially the industrial use cases, smart cities and broader digital transformation and the evolution of artificial intelligence as we move to a cloud economy. >> all right >> and of course the metaverse metaverse is also present in a lot of discussions. >> of course and i know you've got announcements there.

we didn't get to dive into this time, but there will be time christiano, ceo of qualcomm, thank you. and if you're looking for some green today, check out the top stocks on the nasdaq this morning. you see lucid at the top zscaler, tesla, crowdstrike and zoom video reports after the bell tonight "techcheck" is back in two minutes. don't go away. ♪ we didn't buy? (camera shutters) or the places we didn't go. ♪ ♪ when traders tell us how to make thinkorswim® even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim® web. because platforms this innovative

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shepard smith has that >> the news is coming in now we've gotten a report from the russian side and i've just received this in the last 15 seconds. russian and ukrainian representatives have concluded the talks they've been holding in belarus actually, on the border. ukrainians didn't want to go into belarus because it's not a neutral nation they had talks on the border aimed at brokering peace amid the ongoing conflict or that's how they've laid it out. anyway this as both sides will return to their capital cities will return ahead of thesecond roun of talks which could take place in the coming days that's according to the reuters news agency citing belarus news. expectations for a peaceful

resolution had not been high before monday's meeting. that, i would say, is the understatement of the day. here's what i have directly from the head of russia's parliament. international affairs committee speaking on russia 24. so take this with it as you will they're quoting the talks have just finished. the parties heard each other found a number of points on which they found progress. this is about human lives, says the russian side, and he dwsaysi will not elaborate anymore as we need to take this back to our leadership then we'll get back to the ukrainian side and get the next date in, which suggests at least preliminarily that they suggest to speak again every day matters right now, quoting the russians, saying we can work in the same format and agree on something in the next few days this is all on the russians. the russians invaded a sovereign nation zelenskyy has applied for

ukraine to join the european union on the fifth day of the russian invasion so zelenskyy is saying let us into the eu and please send weapons. switzerland has decided it's not going to be completely neutral and germany did what it did. we've seen lots of videos out of the two major cities, kharkiv and kyiv, where the ukrainians have very much been able to hold back the russians advance and they have not been able to take either of those major cities so the question now is the talks have ended such as they were those go back to moscow and kyiv and we'll see where this leads us for now, the sun will go down in about another hour and we're expecting another night of fighting as day five continues >> we'll continue to wait for a response on those concluded talks. defense stocks are on the move this morning as eu

countries pledge to spend more on defense tech check is back in a moment

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crypto help ameliorate the impact >> not as easy as it might sound for the russian government it's hard to find places to buy large amount of bitcoin or any crypto currency. these are thinly traded. the bitcoin ruble pair maxes out at 200,000 per trade the usd pair is about 3.5 million. in the context of the billions of dollars in foreign change russia would otherwise be doing, i'm told bitcoin can't be compensated for russia being locked out exchanges would be the main places to get liquidity, but sanctions likely take away that opt option exchanges are on high alert right now through sanctioned accounts and global accounts are subject to the same anti-money

laundering laws and no matter where a crypto transaction happens, it's traceable. they say they haven't seen any large amount being moved yet and i'm told demand for bitcoin and stable coins is picking up that could increase with currency devaluation, but the country has cracked down on the industry, so it's unlikely crypto will be adopted as a new payment system within russia >> thanks. that will do it for tech check let's get to the half. thanks so much welcome to the halftime report the state of your money after another volatile week for stocks was the retest, rebound, a sign that the bottom is now truly in? we'll discuss that with the investment committee joining me today, shannon, brenda, jim, pete, the cofounder of marketrebellion.com a bit of a picture than it was to start the