have some live animals in the requests and also some other really cool gifts. guys, one, two, three, let's say happy holidays. >> happy holidays. >> david, back to you. >> big takeaway, be long dogs. that's going to do it for us on "squawk on the street. "techcheck" starts now ♪ happy black friday welcome to "techcheck" i'm carl quintanilla with julia boorstin. searching for a pulse on the consumer, we've got it today, along with the latest data, stock moves, winners on this shortened trading day for stocks plus more on where e con goes from here. finally the apple breakdown as covid cases surge in china and questions continue to grow around iphone supplies going into the holidays. big show today, julia, even with

the shortened session. >> a happy black friday to you we are kicking off today's feed with a read on the consumer as black friday becomes a make or break holiday this year and investors eye an a slow down amid a rolling tide of layoffs, and guidance cuts. christina joins us now with the latest >> reporter: between stuffing our faces with turkey meals, shoppers were able to get in a lot of shopping yesterday. consumers spent a record $5.3 billion, it's not on here, but 5.3. that is up almost 3% increase year over year to put that in context, on an average day it's 2 to $3 billion in the united states today adobe is predicting the number jumps to $9 billion, sounds like a lot but only 1% increase year over year.

new data has walmart as the most searched retailers for online black friday deals, followed by target and kohl's, kohl's up 1037% for year over year searches dethroning amazon. last year amazon was number one. number one when it came to search retailers on black friday for 2021 but now it's number four on the list we just have a bunch of different screens there. people are searching for beauty products and tech. tech leads the way with pcs, gaming consoles topping the list and the top search cell phone brands are samsung, apple, google, sony this year samsung was knocked lower because of google taking the top spot you can see with this, no surprise, apple is still up here at number two, because shoppers are looking to get their hands on the new i phone 14 and iphone 14 pro waking up on the west coast, you want to know what are the best

deals, data shows toys are seeing the biggest discounts, followed by electronics and computers. but cyber monday is expected to be the better day for electronics so you should maybe wait for that until monday. >> thank you it's amazing how much different this year is from last year when we were dealing with supply chain issues, shortages and delays do you think we'll see a shift of spending later because people aren't as worried about all the shortages? >> excellent question. something we've heard from several retailers. for example, macy's. they said they saw a slow down at the end of october, beginning of november. they're expecting consumers to shift that spending later on into the holiday season, which is why on christmas eve they're open one hour longer the expectation is yes, that will happen but everybody -- not everybody. but we've haerds the scenario there's been an inventory glut,

bigger deals this year, so people are waiting, people are taking their time. we're getting retail analysts telling us people are using their mobile phone to search for deals, not rushing to do it because they anticipate the sales will be longer and deeper this season. >> christina, i definitely have not started my holiday shopping yet and last year i was worried about getting things in time i had. >> what tops your list >> i have to figure out what i'm going to get for my kids >> hot wheels -- i don't know how old your children are. hot wheels, paw patrol and the nintendo switch are the top three for toys. >> they're big on legos, so on the lookout for those. thanks so much >> thank you. as consumers prepare to spend this morning the everything store could be closed for business amazon workers across 40 countries are planning protests in a campaign dubbed make amazon pay, demanding better wages and

working conditions as they warn they could see a slow down through the christmas season the average is down 30% from the same time as last year harry joins us now thank you for joining us before we get into the broader trends give us a sense of what you think the impact of the protests are going to be. >> thanks for having me. this year the issue has been around stagflation, inflation being the highest and profitability being hit because of supply chain issues supply chain has been a problem for the last -- all through the pandemic and as soon as we believe that something sort of is getting into a good shape, we suddenly start seeing protests like these. i think retailers have to get set up for something what i would call just in case supply chain. we were living in this world of just in time supply chain for

the last 20 years now we need to get ready for just in case supply chain something can break any single day and today what broke was the labor issues >> but do you see these protests meaningfully impacting amazon's ability to get products to consumers on time and could that hurt not only their profitability but also their competitive advantage which they have so much so going into this holiday season. >> absolutely. i think the backbone of all the -- of the supply chain is the labor at the end of the day. but if you think about like we still have to see what -- how deep this is affecting amazon. amazon is obviously one of the largest employers in the u.s. and if there's noise it gets amplified in the media however, it is expected to affect the issues around slas for how fast, quickly things can

be delivered if amazon does not get on top of this before december 17th or december 18th, it's going to impact the final crucial days that will come up where it does count in terms of what the sales volumes will be and will be counted for them towards the final quarter. >> guru, i'm curious to know how you're thinking about consumer shopping trends. toys are big and they always are for kids but how do adults shop for other adults especially since we've come off a couple years where we've loaded up on goods how much pay back will there be for that >> we've been tracking about 5 million products or o, about $20 billion of gmv across say thousands of brands. there are some data that we're seeing which is quite representative of the ecommerce. consumers are looking for something that is cheap and

cheerful in this holiday season. gone are the days like last year, two years, you have seen expensive items like say apple watches and things like that trending in the top ten. this year the top ten searches, amazon, walmart or other places, they're not in the top ten, not even in the top 20, apple watch for instance, devices are going down but what's coming up is things like cheerful items, like squish mellows. have you heard about the plus toy? it's a $20 item and it's been squ consistently the top five searches and lego toys are replacing the larger more expensive electronics. so we believe those are going to do better than the higher sales price items, likelectronics.

>> i wonder, do you think that has implications for things like buy now, pay later where you're spending more on a bigger ticket item >> buy now, pay later is going to do well regardless. the reason being, the stimulus money has dried up at this point. so what's happening is consumers are still trying to buy. they may still be buying some of the items they were used to in terms of the holiday goods, holiday gifting items but in terms of paying out of their wallet they're taking debt, it could be different forms whether it's credit card debt if i'm saying 18% on my credit card debt why not take advantage of something the retailer offers whether it's buy now, pay later or something like that so it's going to be strong but that's more fuelled by the debt issue that america is starting to face at this point. >> fascinating times, guru thank you so much for sharing

your insight into this black friday and the holiday shopping season. >> thanks for having me. let's get to gaming this morning. microsoft's $69 billion takeover of activision is taking a backseat shares of activision under pressure on the news far below the $95 a share purchase price as investors continue to question the viability of a deal facing regulatory scrutiny from europe, the yukuk and potentially the us it comes at a tough time for gaining, the industry expected to post a sales decline of 4.3%. julia we're interested in the ftc report, especially given the fact that a lot of sell-side analysts have adjusted their rating on the name as if there's not a big pending deal in the works. >> if you look at the risk to this deal right now, the fact it's not just the ftc which may

or may not go forward with the lawsuit, we reached out and got a no comment from the ftc. also the fact that it is facing the scrutiny in the eu and uk as well and they need to get the deal done by next summer otherwise they have to renegotiate the terms or they could renegotiate the terms. i think the question for the video game industry, how much did we see a pull forward in the purchases of the consoles. how much did the pandemic drive a pull forward and what are we seeing in the next year or so as the console cycle plays out. you have to wonder is sony right. would microsoft get an unfair advantage from having this acquisition and i guess that will play out through the regulatory issues. >> sony has definitely made some noise we'll see to what degree that's at work if, in fact, this lawsuit does come to pass. ecommerce taking center stage on this black friday.

we'll check in with shopify's president after a break. stay with us, "techcheck" is just getting started

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meta, snap and youtube struggling with an ad contraction see social shopping as a key opportunity to lock in ecommerce advertisers and diversify their revenue streams. 34% of shoppers say they plan to do holiday shopping on social media this year up from 28% last year and 26% in 2020 that's projected to drive social commerce sales to $958 billion this year up from 732 billion last year. meta is offering advertisers more ai driven tools to create shopping ads which meta says drives a 32% increase in return. snap continues to focus on augmented reality it has a new tool they use a bot to ask questions about the person they're shopping for and with voice based machine learning the app shows custom gift ideas.

youtube is expanding the shopping capabilities in its shorts tiktok rival. meta and snap are not taking a cut of commerce right now, they're using the tools to drive engagement youtube does plan to take advantage of affiliate sales look at how ecommerce isn't right now about this revenue stream but could generate a new stream down the line right now ecommerce is about closing the loop, making it easier for advertisers to get the roi. >> we're back to the debate about whether the user wants it to be a purchase point or whether they want to engage in social media and stop giving me opportunities and tricks to buy stuff, there is that balance of trying to give them the option but not drive them away. >> there is that balance but it's interesting seeing the up tick and percentage of people shopping on mobile devices versus laptops before people were afraid to shop on mobile devices didn't feel as secure.

and if you look at the increase of people who want to do social commerce, want to buy on instagram, can it be a convenience, can it be easy? and saving time. that's the balance, having ads they don't seem so creepy they know exactly what they want, but relevant enough to get you to click to buy. >> how did you know i liked that exactly? >> were you listening. >> yes, exactly. from social commerce to ecommerce all eyes are on the strength of the consumer this holiday season for more on what to expect, let's bring in shopify's president, harley. happy thanksgiving, happy black friday. >> thank you it's like the super bowl around here right now thanks for having me today. >> i'm sure it's all hands on deck. >> it is >> given the color we've gotten from retailers the last couple thinks characterize how you think the season will be >> you can see right now, anyone

watching can see global commerce happening right now in real time across the world if you go to data stories on shopify.com. we're showing you everything happening across the platform. a couple things we are seeing right now. first of all it seems this black friday and cyber monday season is less frantic. less supply issues, more physical stores open but there also is better capacity planning so it seems to be a more stable black friday than last year. last year we saw 47 million shoppers by from shopify stores, total sales was $6.3 billion, and at peak we saw $3.1 million per minute on black friday so here's what we 'seeing right now. it's still early, not even 11:30, eastern standard time seeing 2.6 million sales happen every minute on shopify and 23,000 orders happen every minute an average cart price is up to

$109, but peak sales i think was last night at midnight people are eager to start shopping this year >> that's interesting. i'm looking at categorcategorie. apparel and access, health and beauty, home and garden, food and beverage and then electronics and media. is that low in the rankings. >> it not necessarily that electronics are low it's just that it ranks lower than the rest we dug into top u.s. trending products right now across the shopping index and three out of the four trending products are health and beauty, beach waiver curling iron, makeup con scealer and pat mcgrath lipstick the fourth is the always cooking pan. so we're seeing stuff getting out of the house, getting out, health and wellness and beauty are in that category but also things you do in the house as

well the big trend is that shoppers are being more intentional now voting with their wallets and looking for the highest quality for the best value if you think about the stuff all consumers want good value but now it looks like they're buying from brands they love the most i'm buying from the brands i love right now we want to buy from the brands we like the most but we're also looking for discounts from those brands as opposed to buying a bunch of other random brands. >> i'm getting targeted by some of the brands on social media. you mentioned this idea of shifting from quantity to quality. talk to us a little bit about that if you say it's about quality, does that mean people are spending less overall but are spending on fewer, better things how does that play out >> this is the infective inflation. a lot of factors affect consumer behavior you have inflation, interest rates, geopolitical tensions

but we've seen a lo of positives. earlier this week on your show carl talked about the consumer sentiment index higher than expected, 64.8 versus 54.9 so it's higher than we thought it would be one of the trends is that shoppers are being more intentional. rather than buying 10 or 15 products from stores and brands they might like they're focused on the brands they love. we're seeing that across shopify. most of the brands that searchers love are on shopify. >> how are the brands making sure they're connecting with their consumers? is this about the investment that brands have been making year round to build up that direct to consumer relationship or investing a lot in social media? what's working right now to drive those purchases? >> i mean, i heard your commentary earlier, you were dead right right now, like the future of retail and the current state of retail is retail everywhere. i heard you said omni channel or

multichannel talked about a lot right now, i often said in the next year you're going to talk about color tv so what we saw in the last couple of months in preparation for the season is that brands are opening up online brands opening physical stores, online brands or physical brands selling across social media platforms. but the idea is not to think about the channels of businesses but look at them, sell anywhere your consumer is spending time part of the reason you hear us doing partnerships with google, meta, instagram, tiktok and spotify is because we want to make it easy for the brands to reach consumers on every surface. that's a big key here, connecting direct with them. >> harley, you know, for a long time we talked about the consumer as having a lot of excess savings and a high saving rate the conversation now appears to be shifting to how much credit could they build, do they get -- is there untapped money, are these credit card balances going to go much higher?

do you think there's a chapter two where the consumer gets levered because they want to continue to spend? >> one of the things this goes back to the intentionality whether it's debt or cash they have in their savings and if that's running out, moving to credit card debt, i can't speak to that, that's information i don't have what i think is going to be the case is you are going to see more of this intentionality around shopping and less of this i'm going to buy from random companies that i kind of like and i'm going to experiment. but the other piece if you think about direct to consumer as a business model you have less intermediaries in there. so one thing these companies can do, given the fact that the u.s. consumer is spending whether or not it's on credit cards or not is a different story are they able to discount in a way that large retail box stores are not because there's so many intermediaries in there. the future of ecommerce in

general, though, one thing to be clear about, ecommerce is not going anywhere it's predicted to grow to 8.1 trillion by 2026 it's like 5.7 trillion right now. so there is a lot of head room and a lot of tailwind right now driving this new modern retail concept. >> finally, really quick have you been impressed at the way in which supply chains don't seem to be a big talker this crunch season? >> it's amazing. the conversation i mentioned it's less frantic now and i think part of it is consumers are not rushing in worried there's not going to be things on the shelves there's been predictability on supply chain and the inventory side from the retailers. ultimately i think that's leading to less franticness in terms of buying. it's a lot more smooth that being said we as consumers and human beings know that supply chains have been eased. i think it gives us a lot of

confidence that the products we want will be available to us i think right now is a good time to buy we're up to 2.6 million sales happening every minute so we'll monitor it through the day. >> it's amazing how savvy the consumer is in what used to be back room operation sales in the business thanks >> thank you. apple and focus as covid cases hit record highs in china and the company's biggest iphone factory deals with the aftermath of violent protests there. more on what it means for the next and looking to where to put your money, tune in to a star studded talk next week it all starts monday head to cnbc.com/pro to register now. "techcheck" is back after this what if we wanted to electrify all of this... 100% carbon free... is it possible? ♪♪ aes has been leading energy transitions for decades...

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good friday morning, welcome back to "techcheck" i'm carl quintanilla and julia boorstin

checking in on the markets on this black friday, a shortened session today, closing at 1:00 p.m. eastern been pretty positive, actually been a positive week overall with the s&p hovering just above 4k a news update as well. >> reporter: here's what's happening at this hour tesla's upgraded full self-driving beta software is available to everyone in north america if the owner purchased the $15,000 self-driving option. that's according to a tweet from elon musk earlier today. however it should be noted that federal regulators have not given approval for carsing to be driven without a human in control. ford is recalling over 600,000 sport utility vehicles for a possible fire risk broncos

escorts from 2020 to 2023 models bed, bath and beyond is said to be struggling with empty shelves as it gears up for the holiday season more than 40% of the stock was out, according to a report the company is trying to shore up finances and patch up relations with suppliers by catching up on overdue payments. and i still have not received my pots we bought on october 30th from bed, bath and beyond. >> thanks, so much. china reporting a record high number of covid-19 cases in the country as lockdowns and protests continue to impact production for companies like apple ahead of a big holiday season eunice yoon is live from beijing with the latest. >> reporter: most of china's iphone city or zhengzhou in central china is in lockdown until tuesday, this comes after

protests had erupted at the foxconn facility there, which is responsible for about 70% of the global iphone output, including of iphone 14 models. foxconn has apologized for what it described as a technical error in worker pay which was in part responsible it seems for those protests foxconn offers about $1,400 for recruits that choose to leave the facilities and apple has sent in staff saying that they're working with foxconn to address some of the employee complaints. the turmoil raises questions in terms of whether foxconn is going to be able to meet the internal goal to get the facility up and running by the end of the month otherwise, an export hub has denied there will be a city wise lockdown in guangzhou however tonight they announced they're

suspending public transportation and all residents must stay as home it's coming as within the past hour there's videos emerging that there's a larger protest forming in the far west, home to many solar panel display makers and textile manufacturers, and residents there have been protesting covid controls blocking a building which appeared to have had many residents, including children, trapped inside because of a fire so this is a bit of a pushback that we're seeing in different parts of the country, including here in beijing. residents have been pushing back against what they see as unofficial lockdowns and kind of arbitrary shutdowns of businesses in fact, some residents, julia, have been forming what has been

described as connected dragon pacts. that's basically just a way to show the government authorities that they are willing to push back by using chinese law. >> once again, eunice, we're so lucky to have you there to be our eyes and ears and explain a difficult story to understand and report eunice yoon in beijing those china lockdowns one of multiple headwinds facing apple. seema modi has more on that. >> delays for the iphone pro max don't seem to be stopping customers from entering apple's flagship store nearly 200 people shopping and browsing for various products, primarily international tourists those shortages are starting to show up. expecting 8 million iphones to be sold this weekend as opposed to 10 million last year.

as the company is working to address those issues at the largest iphone factory in zhengzhou where workers protested earlier this week, altercations adding to pressure, foxconn struggling to hire workers due to the extended lockdown period. on november 6th apple warned investors of shipment delays but reiterated it continues to see strong demand. customers we spoke to here are willing to wait. some buying the lower cost iphone 13. an analyst says he doesn't see the extended wait times pushing consumers to exit the apple ecos ecosystem, that is the concern he initially forecasted about $3 billion in iphone revenue to be pushed out from the december quarter to march he now sees that number increasing to $6 billion given the big plant in china is still not up to 100% back on line. julia. >> thanks so much. our next guest saying he sees iphone pro lead times

extending as supply chain issues persist but we're likely through the worse of it. he joins us now. he has a buy rating on the name. big picture here, what do you think the impact will be on the delays will shoppers trade down, wait for an iphone 14 any chance they'll switch to a competitor. >> thanks for having me on the show as we think about demand we're not expecting consumers to really switch out and move to a different platform think about evidence from iphone 12 or 13 cycles as well. typically supply days don't cause a consumer to delay or forfeit that purchase as such. typically a customer will put in an order, wait for it a month, the lead time, 30, 40 days obviously from a standpoint of a full fiscal year, we don't see as much of an material impact but clearly what it means for

the december quarter as we address some of the supply issues we are forecasting the december to be a year over year decline for apple on the revenue side and that would be the first time since december '18 and march '19 quarters so definitely material impact from the quarter but the fiscal year we're not expecting that to drive customers to change their behavior as such. >> going back to what eunice yoon was reporting about the foxconn protests what kind of impact do you see them having big picture on apple, the ecosystem do you think we'll see changes as a result of them or is there no impact? >> definitely there will be an impact on the supply chain as we sort of forecasted the supply chain and how apple restructure it, we see an increasing production of supply move to india. we've had forecasts around that. but i think in the near term

you'll see apple -- the pro and pro max are heavily reliant on the factory right now so there's little wiggle room around there. when there's wig m room is the base iphone models, what you're probably going to look for apple to do, as you can see on sort of the black friday promotions, you don't have promotions on the pro and pro max. you'll see the other models being promoted for consumer adoption, and there's a bit more alternative supply that can be pulled through there the pro and pro max which is where consumer demand has been the most, are going to be a bit more impacted from the supply chain issues. >> i wonder whether or not -- i know this is hypothetical. but if you were to create apple today, how much supply would you have based in china? if you could start over. and how much is e fersha from

the past 30 years of globalization? >> great question. i think when you take a look at how companies want to create their supply chain, they want to sort of have most of the domestic demands catered to from the domestic supply. so when you think about it, you'll probably expect companies like apple to set up 15, 20% of the supply from the domestic market and then from the remaining close to their demand sectors as possible. clearly that will take a long time we're seeing other products that are easier to move get there faster but not the iphone. but i think long run you won't get there exactly but close to it. >> a final question able wearables. what is your outlook for the watch and air pods this holiday season >> yeah. we've been very excited about the watch ultra, particularly i would say. less so about unix more so about the ai revenue implications.

the way we see that product doing lead times, solid demand, and driving optimization of the watch sort of product line itself, switching for the better battery life and getting higher revenue from it. when you think about the air pods,that's a product not as impacted by the supply constraints so you'll see that as a holiday gift product going into the sort of last few weeks of the year. so again expect strong momentum there. probably partly benefitting from the supply constraints on certain other products but expect the quarter in terms of revenue. >> great fascinating to watch thank you for joining us on this black friday. >> thank you meantime, tesla shares seeing another down day amid a tough november for that name the company finally making the full self-driving software available for everyone in north america but also this recall of

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if you thought the crowds on black friday were frightful, wait until you see netflix's new series wednesday centered on the beloved teenager of the adam's

family, wednesday adam it debuted earlier this week and for our latest bing i sat down with the minds behind the shows. i asked myles miller how his experience producing "smallville" compared to the netflix show running experience. >> we talk a lot about how the world has changed in the streaming era and how that creates challenges and opportunities for story tellers. how is life different trying to run a show >> life is different we joke, we spent three and a half years making eight episodes of tv, where smallville would have made 88 episodes of tv. in terms of the product line it's reduced and the quality, each episode of "wednesday" feels like a mini movie. the schedule of episode was 25 days an episode of "smallville" was

eight. in terms of the effort and distribution of people binging, seeing all of it on one day, that's a big change for us as creators that you don't have the chance to have syndication or repeats. people have to discovery it on the bing weekend and go for it >> you can watch the entire interview with al and myles on cnbc.com/bing right now. and for the uncut conversation join us for a special live stream on twitter or youtube after this show at 1:00 p.m. eastern time a lot of gems in this one, i thought it was interesting to take a franchise, another example you're looking for back stories within individual characters like "star wars" and marvel have done for years. >> fascinating to think about how the bing format is affecting the production itself. can't wait to see it a tough year for fin tech names but could the holiday season be the start of a turn

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welcome back let's turn to digital payments this morning as black friday kicks off what could be a big holiday season for names in that space, names like affirm down

90% over the last year sofiswz and block not far behind is q4 time for a rebound great to see you again i want to get your first on sofi because the squeeze on crypto worries and student debt has been a bipincher on that stock. >> the fist cut is the defense, this one not so bad. people love to hate this name, but if you actually look at the fundamentals, they're great, right? they're making personal loans like a bank. the student loans i guess we have that setback with the biden extension of the moratorium, but you're seeing the stock barely move to that because i think it's kind of immune to that. i think from here on there's only pure up side because all the bad news is priced in. they're doing well fundamentally. and you don't really have any

other equivalent to that here in the u.s. >> walk me through the hold on block, some of the dynamics that lead you to that >> yeah, i'm not a big fan right now. this used to be our top pick for a long, long time. it kind of grew on us i think it's not very well managed if you think about cash app, which is the growth charger, increasingly payday lending, which they call borrow becoming a much bigger part of the cash app growth we estimate this was probably 50% of the growth in the fourth quarter, up to 50% came from payday lending, maybe less than that especially given the cohort of people that uses -- using the cash app and the question is will they actually pay it back everyone's going to take a payday loan. the question is how many people are going to pay it back that's why we're a little bit

more lukewarm i'd say on square or block at this point >> what's going on with buy now, pay later? was that more of a blip? is this going to be a permanent part of this ecosystem, and which companies are best positioned when it comes to that category >> yeah, and that's a great question look, if this category survives -- i think it will, there's no doubt in my mind affirm is a market leader. you've got some other great leaders. afterpay i think is owned by square but it's all helping affirm affirm is the market leader. if you look at their delinquencies they're actually trending fine. if interest rates go through the roof and things get really sour, it might not be a great environment for this, but if they survive this is the market leader this is the visa master card of

buy now, pay later and that's why we like affirm >> just another question of ftx. i know carl mentioned it but looking at the shift in market share over the coinbase, do you think that coinbase is more positioned now and look more broadly do you think this is a moment consumers are going to be shifting out of crypto currency? how important is crypto going to be a year from now >> yeah, i mean, what you just said i cannot agree with you more than that i think investing in coinbase is just a waste of time because what's going to happen is consumers are disinterested. if you go back to the dot combubble it took people five years to come back and those were real businesses what we're talking about here is just kind of these crypto tokens which are essentially -- ftx told you one day you could be worth the world and the second day you could be worth nothing

those market shares are very minimal, i wouldn't get overexcited about them because the overall volumes are coming down and making 600 revenue and $1.2 billion in losses it's a very bad business right now. >> wow dan, what a shift in that market and we'll be looking obviously for more signs of contagion. thanks so much have a great weekend >> happy thanksgiving. >> and a quick programming note as we head to break. a jam-packed week ahead for cnbc pro subscribers and there's still time to subscribe yourself and get on the action. hear from more in a week of online talks you do not want to miss that all ickicks off on monday tech check is back in a moment . but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place.

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humana has a large network of doctors and hospitals. so call or go online today and get your free decision guide. discover how an all-in-one humana medicare advantage plan could save you money. humana, a more human way to healthcare. one more thing before we go, elon musk messing with blue checks once again saying in a tweet early this morning that the company is planning to relaunch twitter blue verifications next friday, december 2nd, and pushing past the november 29th deadline set last week. musk says the new system will designate companies with a gold

check, government linked accounts with a gray check, and all other individuals with a blue check a key caveat here, all accounts will be manually authenticated carl, this sounds pretty labor-intensive for a company that just lost and laid off more than half of its employees >> there's also the tweet he gave the last couple days about the possibility of broad amnesty for suspended accounts "the washington post" did a piece last night, julia, where they interviewed some folks who are now calling for maybe apple and google to start considering whether or not they should be restricted from the app store. so there's a lot of very important conversations going on >> and headwinds here. also you look at the contracting ad market and the fact, yes, elon musk wants to diversify twitter's revenue stream, but for now the business is entirely reliant on ads, and a lot of big brands have paused their spending as they wait to see how musk's ownership of this platform plays out >> pretty remarkable as we keep

our eye on twitter, talk more about it as a private company now than we ever did as a public company, julia as for next week things going to continue to get very busy. have a jobs number coming up on friday, pce on thursday, and powell will speak at brookings on wednesday as we look for more clues out of the fed julia, it was really fun anchoring with you today let's get closing bell stocks are seeing mixed action on the shortened black friday session the dow's actually up session highs but the nasdaq is pulling back as we head into the final hour of trading. this is the make-or-break hour for your money welcome to closing bell. i'm sarah eisen. it's the china exposed names weighing more heavily on the market today the s&p 500 is flat. what it reflects is a tale of different sectors. you've got strength today in health care,