they are hoping word gets out about etsy's practices they view as unfair and that etsy listens to them make changes on the road. kristen: these sellers are not employees. they are just using the platform. they do not have a union. do labor laws even offer them protection of some sort? or even enable such protest? >> they do not. they do not have a union. they do not have an employer-employee relationship. they are not covered by the national labor relations act. that does not change the fact they can organize in this way. it is a collective labor action, just not a union action. kristen: 30 seconds, i wonder if this impacts shoppers. do shoppers care? we know it is a pretty small fraction that participated. does it impact shoppers? >> some customers have seen the petition, have seen the media reports on this and sided with them. some buyers have said they will also go on a strike in solidarity. kristen: jaclyn diaz, npr reporter. let's chat over kristen: think you so much for joining us on this interactive show, getting answers. we talked about giant's alyssa nakken making history, the

a lot of people are trying to compare etsy to amazon look at etsy compared to ebay. million buyers ebay has 147 million but the price point, etsy buyers are spending on average around $24 a purchase ebay buyers are spending $60 so i think if etsy, instead of focusing on ramping increased expenses for their sellers, if they can look to increase their purchasing for their buyers, they're going to see a significant increase in revenue and ultimately earnings. it's one that's very interesting to me. we don't own it yet but i'm looking at being a buyer >> quint, we'll have you back to talk about it. thanks for joining us here today. >> rising rates supposed to be good for the banks up next, why some bank investors are getting pessimistic ineastd. we'll tell you about that in a minute thanks for coming. now when it comes to a financial plan this broker is your man. let's open your binders to page 188... uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we

larry: some sellers on etsy are on strike. the news comes as the platform announces fees on each transaction, a total of 17,000 sellers are closing up shop for a week to protest the new company policies. some buyers are standing in solidarity by not purchasing from the site. today on our 3:00 show, we spoke with jaclyn diaz. >> i do feel like it is a big deal. in addition to the other costs they have to deal with. they have to buy their own supplies. the company has additional fees. for them, it is too much. larry: etsy plans to raise seller fees from 5% to 6.5%. in a statement, etsy says the fee increase will be put towards site and pride -- site improvements in marketing. sellers are working to form a union. kristen: less than a week away from the tax deadline. with so many working from home, your taxes could be more complicated. larry: -- looks at the impact working from home can have when filing taxes. >> working from home has become the new normal for many americans. before you try to write off a portion of your utilities

i don't think anybody is going to be doing anti-trust action against etsy in this case. too small., you know, this is why the direct-to-consumer movement is what it has been we'll see what stripe adds, perhaps eventually, when it comes public, as well. it's been growing quickly. >>> moving on. goldman upgrading crowdstrike this morning the russia-ukraine war is driving ever greater levels of demand that's up to a buy with a price target of $2.85. we're backn i2. - in the last two years, we quadrupled our team and the pace we're growing, i couldn't keep up without ziprecruiter. they do the legwork and they get my job posting in front of the right candidates. i love invite to apply. i instantly see great candidates and i can invite them to apply. we have hired across all departments, engineering, marketing, hardware, field techs. you can basically tell ziprecruiter who you need, when you need it, and they deliver. - [narrator] ziprecruiter. rated the number one hiring site. try it for free at ziprecruiter.com try it for free at ziprecruiter.com >>> welcome back apple ceo tim cook spe

then etsy, talked about that at the top. paypal, very out of favor, and netflix. i have to tell you, i saw after the close that paypal got recommended by wells fargo maybe that helps it. ipg photonics. this is interesting, a laser company with significant operations in russia if you look at the biggest winners in the nasdaq 100, you'll see very interesting stories. there's splunk, the data an analytics company that is making a comeback because of the new ceo, gary steel. up tw28% in the first quarter then activision blizzard the video game takeover story because it's being bought by microsoft. you have a couple drug stocks with a good pipeline vertex pharma, they have a possibly nonaddictive pain reliever, and astra zen scaw which is number six, but i'm including it, and then is the utility, classic recession proof stock, and then dollar tree which is turning around thanks to a push from an activist investor we talked utlast week when we said we still like dollar general more, but dollar tree is okay you can learn even more from the losers and a lot of these we co

members to get out as authorities are easing lockdowns we are live on the ground with the latest >>> etsy kicking off what is expected to be a battle over the direction of the ecommerce darling. it is tuesday, april 12th. you are watching "worldwide exchange" here on cnbc >>> good morning to you. i'm frank holland in for brian sullivan let's kick off the hour with the check on the markets and your money. stock futures are a mixed picture. nasdaq higher. the s&p and dow in the red the dow could open up 30 points lower this morning it's still early stocks kicking off the week in the red. dow aand s&p falling. down more than 2%. investors are gearing up and expected to show the biggest spike since december of 1981 driven by higher food, energy and rent we will geta report on the bon market the 10-year yield is ticking above 2.8% the 10-year yield increased 80 basis points over the month. the 5-year and 30-year is ticking higher we are getting a look at the price of oil rebounding since the lowest level since february wti under $100 brent crude over $100 a barrel crypto bitcoin falling below

new inflation data expected this morning and why etsy sellers going on strike. diane king hall report from the cbs broadcast center. >>> stocks slid to start the week on wall street. the dow dropped 413 points. the nasdaq fell 299 and the s&p500 fell 75. >>> all eyes will be on the monthly inflation report out late their morning. economists are predicting the consumer price index will show prices jumped about 1% in march from february and surged 8% over the past year. rising energy costs, food and housing are some of the driving factors. >>> thousands of etsy sellers going on strike this week. a group that uses the website to sell home made goods upset the company increing ite 5%. sa they have become a hostile place to operate. the company ceo said the increase will fund improvements in seller tools, marketing and other changes. >>> krispy kreme is tapping in to its strategic doughnut reserve. for the next four wednesdays whatever the average is for a gallon of gas that's how much a dozen glazed doughnuts will cost. today it's $4.11. that's your cbs money watch

. >>> up next etsy sellers set to strike. why they are send a message. that's ahead. >>> and a traffic stop (music throughout) xfinity mobile runs on america's most reliable 5g network, but for 30% less than t-mobile, so you have more money for more stuff. this phone? fewer groceries. this phone? more groceries! this phone? fewer concert tickets. this phone? more concert tickets. and not just for my shows. switch to xfinity mobile for 30% less than t-mobile. new and existing customers get amazing value with our everyday pricing. switch today. >>> time for the money watch report. a quick look at the stock market and etsy sellers making their voices heard. diane king hall joining us live. >> good morning. trading has been underway for a little more than ten minutes and incestors in a buying mood this morning on wall street. this green is matching what you will see on the board in just a minute. let's look at the dow. it is better by -- you got it rallying 278 points. the nasdaq gaining ground in the tech sector. gains 161 points. s&p500 better by 40 points

kumasi: some 17,000 people who saw items on etsy are effectively on strike.put shoppers on vacation mode for a week to protest company policies. they say the move is just the first of many steps they are taking. they are working to form a union. the effort comes two months after the e-commerce platform reported an all-time high in sales and revenue. reggie: now for the morning report. serious warning from economists after this morning's release of march inflation numbers. they call it ugly. the labor department found inflation rising at an annual rate of 8.5% in march. that's up from 7.9% in february and the highest level since 1981. wages are not keeping up. purchasing power is down and they worn we could see a recession by the end of next year because of the high cost of goods. the federal reserve is raising key interest rates soon. >> high inflation, high interest rates when things kinda go off the rails and recessions can occur. people are nervous but if they lose faith and run for the bunker and stop spending or hiring or doing what they typically do, th

. >>> thousands of sellers on etsy are on strike protesting a 30% hike in fees that etsy charges vendors,000 sellers joined the protest and are not selling their goods. etsy hosts more than 5 million businesses. >>> space tourism getting a new look the florida based space perspective is unveiling the pressurized capsule. it will rise 20 miles above earth attached to a balloon. they're offering a six-hour ride attached to the edge of space, mood lighting with fresh herbs and cocktails. it sold 600 tickets at $125,000 apiece liftoff set for 2024 >>> on wall street, the dow down 88 s&p down 15. nasdaq down 40 >>> well, the russian president vladimir putin wants to send russians back to the moon, at least that's what putin said during a meeting with the leader of belarus today he says he hopes to restart russia's moon exploration program later this year with the launch of luna 25 moon probe the announcement came on the 61st anniversary of russia sinding the first person to space. the european space agency suspended work with russia on a mission to mars last month that's now been underway for

she says her fellow etsy sellers are trying to get etc.e table and figure out a better plan for fees as he says the fee hike from 5 to 6.5% will be invested into more marketing, growing its customer support team and doing more to remove listings that don't meet its policies. as he sent us a statement saying their cellars success is their top priority to the north bay, where the great and resort and casino is proposing a major expansion that would make it an even bigger player in the hospitality industry. there. the great and rancheria tribe wants to add a 35 100 seat theater, rooftop restaurant, new parking garage and a five story hotel tower more than 2000. people currently work at the resort, and that's expected to increase if this proposal is approved. the county itself doesn't have much of a role in the expansion because the casino sits on tribal land and is overseen by federal regulators. apple invited people from around the world to enter its latest photo challenge and a woman from right here in the bay area. is one of the winners. t

shares are down 9% of etsy 20,000 showing up to sell objecting to the latest hike fee. a 5% fee had been in place since 2018 and 20,000 stakeholders signed a petition demanding a crackdown on retailers, customer service and an option to opt out of offsite ads. the company boasted a 23% boost in sales since 2019 and an additional 90 million users. this year another story. the stock has been slipping long before that february fee announcement many investors have concern over profitability and resistance from unhappy sellers paving a slippery slope etsy shares are down 60% from their all time november high carl, they say they need to compete with amazon. he is not backing away from this fee increase he is saying in the long run sellers will appreciate it >> and just how much is the consumer willing to spend. j.p. morgan has a look at how spending has been able to keep up even though savings have not. once that dries up, what kind of choices do consumers make. >> run me my coins, whether we are talking about apple's app store or meta and the 47% cut. people aren't building

you can buy those shirts on etsy.heck out this hip douche-buster cosplaying president at war while stocking micro brews in a brooklyn bar full of pinball machines. [ laughter ] you know who could use one of those zelenskyy t-shirts, this guy. [ moans ] we've seen his nipples, isn't that weird? [ laughter ] zelenskyy isn't the only one moving merch. there are all kinds of putin products on etsy. these are real items, we didn't make these up. you can buy putin poo. [ laughter ] you can buy a putin butt plug. putin eating a ukrainian penis. vladamir voodoo dolls. you can have some sexy pillow time. [ laughter ] donald trump may have caught another lucky break. thanks to this newly elected and soon to be reviled all around the world district attorney alvin bragg, who for reasons unknown appears to be backing off the district's case against trump, the case they've been working on for years. we know this because "the new york times" published a resignation letter from one of the lead prosecutors on the case who claims they

the reason there's already efforts to bring ships back to the docks, your favorite etsy shop.it. and how customers are supporting them. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ twoy they are looking for the woman who was driving this blue porsche cayenne suv back on april 3rd. they say she crashed into a parked car. then after looking at the damage she drove away without leaving her contact information. if you have a new formacion, you are asked to call mill valley police time is now 5 43. we're now hearing from the man who was caught on camera trying to stop a thief from stealing thousands of dollars of merchandise from a target store in colma. i just feel good doing the writing. i think if we to speak up and do a writing life is much better and you sleep better at night. this is cell phone video of the man who only wants to be identified as tiger confronting the thief who was stopping 40 to 50 pairs of jeans into a blue bend. the tiger says he followed that thief into the parking lot where he dropped the jeans and tried to get on a bus. police definitely appreciate you know citizens. um you know, be

consumer and expensive before shopify how about if you make your own hand crafts and list them on etsye opportunity software from adobe or wix, your own online presence could be like the largest of stores make get some venture capital money for that idea of yours there's one downside say you're grcreating a restaurant, your price increase for food, for workers. most restaurants make mark up drinks then get their booze from the grocery store for a fraction of the cost someone been a small propriey t, opening your own restaurant feel like a pretty puric liberation you don't know that until you try t for yourself it's tremendous consequences one, it gives people a shot to be their own boss which is such fabulous thing especially when it's paid for by the government. the other is all workers have more bargaining power across the entire country consider the days of starbucks despite some of the most generous pay packages, there's the power to unionize. i know the company has generous 401k planplans the optics is for shareholders it's time to tip the scales. i'm sure the great liberation pla

. ♪♪ >>> welcome back it is time for the executive edge sellers on etsy beginning a strike this week it charges shop owners for transactions the company boosted from 5% to 6.5% they did that yesterday. the first increase since 2018. etsy says this is critical to increase investment and marketing and services 20,000 sellers have signed a petition against the move. shares are down in the last year this has been a pandemic winner and now a bit of a pandemic loser. >> that is a jerk move to 6.5% a significant take when all you do is provide the platform they make the products and ship the products you are not a store where you provide a service and all beyond this is the reason technology stocks do well they have no cap you have zero cap x costs importanfor setting this up. >> i'll take the other side. >> you're kidding? we can see an article. that's weird >> a couple of things. first of all, amazon, i don't know if we like amazon or not like amazon. i believe charges more than this in terms of the fee. there are fees associated with running a web site there are customers that come to it

it is giving a lift to equities here, the etsy gaining .4%, the ibex gaining .3%. the fca is looking at what happened at the lme. we had a great story looking at the inverted yield curve. it is harder to ignore than it was last tuesday. italy at 2.56 for the 30-year. if you look at spain, [indiscernible] across assets if you distill some of the stories, the hang seng thanks to that audit measure from china gaining. the u.s. 10-year yield is up. brent at $105, and gas features gaining 2.5%. this has been one of the main stories in the u.k. because we are not as dependent on russian gas, but with the wholesale price you saw on friday gas prices go up by 54%. let's get to our mliv managing editor mark cudmore, you are looking at covid data? mark: good morning, francine. the news out of china continues to be negative. people are concerned not just on the human situation but what that means for markets and the supply chain. i want to provide some good news on the covid front. this is a chart of the seven day moving average of global covid deaths the last couple years si

the press secretary said that about one of our reporters come with the top etsy >> the top of our democracy feminist guam, a stay-at-home mom. but my body was telling a different story. i felt all people saw were my uncontrolled movements. some mental health meds can cause tardive dyskinesia, or td, and it's unlikely to improve without treatment. ingrezza is a prescription medicine to treat adults with td movements in the face and body. it's the only treatment for td that's one pill, once-daily, with or without food. ingrezza 80 mg is proven to reduce td movements in 7 out of 10 people. people taking ingrezza can stay on their current dose of most mental health meds. don't take ingrezza if you're allergic to any of its ingredients. ingrezza may cause serious side effects, including sleepiness. don't drive, operate heavy machinery, or do other dangerous activities until you know how ingrezza affects you. other serious side effects include potential heart rhythm problems and abnormal movements. it's nice people focus more on me. ask your doctor about ingrezza, #1 prescribed for td. learn how

etsy and tesla and starbucks and wynn it pays off to do your homework. >> and china exposure. anybody with the 20% to 25% in those names, there is real concern over what happens to the market it is the highest margin market. double whammy. >> absolutely. nike has actually had trouble although it is one of your likes. stacey widlitz, thank you. >>> on deck, a solid rebound taking shape tiffany mcghee laying out the trading day ahead and the company high on her radar. >>> and brian sullivan hosting the milken global conference in los angeles. to register go to cnbc.com/pro/talks we'll be right back. with 2 max-strength pain relievers. ice works fast... to freeze your pain and your doubt. heat makes it last. so you'll never sit this one out. new icy hot pro with pro-level contrast therapy. rise from pain. is it some magical number? something we just achieve at the end? or is it a feeling? a freedom, to live our lives the way we intended. through the ups. the downs. all of it. this is financial security. from long term care planning, to annuities and life insurance, lincoln helps

droppers in the space, you've got names like penn national gaming, wynn resorts, under armour, and etsy. they're down now, but they were big on the most recent highs a lot of concerns about travel and spending coming up in the second half. right now everyone is enjoying it what happens late oren in the year is the big worry. >>> all right, there's a huge piece of news getting lost in all the stockmarket headlines, one that may be contributing to the recent volatility, and that is that russia has cut off natural gas supplies to poland and bulgaria they did that yesterday. they say unfriendly nations pay for russian gas in rubles. they won't do it they say gas will be halted until those payments are machltd bulgaria says it's already fulfilled its obligation under a contract with gazprom. poland said it will not extend its contract with gazprom when it expires at the end of the year they say their gas storage is 76% full and doesn't need to draw on reserves poland has been smart, building up supplies, being the biggest buyer of american liquid gas bulgaria is a different bit of a story. t

again, keep an eye on the earnings in the coming weeks zoom, docusign, etsy there's better parts of the in, in my opinion. >> netflix has been a big wakeup call, i think. what a shocking number down 20% right now joel, they've got -- i know you've got a busy day. thank you. >> thank you. >> you're welcome. >>> three years of gains wiped out. >>> coming up, it's the other elon news. tesla results they're untapped what it could mean for the property highlights, of course. more in a moment what if you were a gigantic snack food maker? and you had to wrestle a massively complex supply chain to satisfy cravings from tokyo to toledo? so you partner with ibm consulting to bring together data and workflows so that every driver and merchandiser can serve up jalapeño, sesame, and chocolate-covered goodness with real-time, data-driven precision. let's create supply chains that have an appetite for performance. ibm. let's create. at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you

. >> greg: like etsy her people -- look at you. what movie was that from? this question, bill marr made this point i think this proves the point. there is more are so, so successful is because the left now so freaking funny. it's a funny story. this hilarious. >> kat: we are living in a south park episode. these diversity experts they call themselves experts they can tell that of the twin blackface and is black. is so common about that that are actually in a publicly shamed this entire charity event but the manage just a black man. on the double down and say okay love i made some kind of acknowledgment although certainly different than a white person i can offset. i'm pretty sure that it was still wearing blackface. you would send on that? it was a guy by the way it's like no one news we was, he works for the wnba team. this guy is well known. he's also black. exactly. that's the point of but he knows that. >> greg: the reason why did that he thought he could get away with it. but the person making accusations physically of everyone on their side i don't an

irresistible are now starting in 1899 of etsi and thend neighborhood your city manager left to find themselvesndeed you do indeed. instant instantly delivers quality candidates matching your job description, visiting .com sort of a crack trustwave like this customer had autographed image but he was busy working home so he's go to a safe place and just a few clicks we came to his house then we got you and install new wipers to . finished his meeting. let's say come to you.rs let's say come to you.rs it's great.lite replace. ♪ thank offered that service on your site gazoo. >> now let me pay for things like replace. >> i'm mike huckabee, former governor of arkansas and 2016 presidential candidate. like many of you, i've struggled to get a good night's sleep for most of my adult life. i wasted at least two hours a day in my life tossing and turning, trying to shut my mind down until about two years ago. that's when i saw an ad on tv for relaxing sleep. i decided to order it and it literally changed my life. developed by renowned neurologist and sleep expert dr eric celebrity, relax and sleep is cl

i mean, it can actually add exponentially to units effectiveness on the field of battle or etsy, on warships. the way our unit feels about itself, about its effectiveness, its competency, about the teammates, about themselves, all of that can have a huge impact on effectiveness and efficiency and battle and in combat. we are not seeing that on the russian side. and we have plenty of anecdotal evidence, as i, said that they are not fighting well, that they are not fully informed. they're even having trouble feeding their troops, and fueling their vehicles. there's a lot of problems that the russians have caused on themselves. on the ukrainian side, however, morale is very high. they are -- they have taken losses, they're suffering, they're watching their friends and families have to leave, they're seeing the cities destroyed. yet, this has really fired them up. they have got -- their getting weapons in the systems that they need to fight back effectively and they're using those weapons. and they have been very agile, very nimble on the battlefield, choosing when and where and how they are goi

extreme fire , ask your doctor about tremblant a day year irresistable are nowe starting in 1899 of etsindles. neighborhood of a hot handles. the driving things until you're ready. then we deliver here new across town or across the country as your personal moving and storage team. i'm mike huckabee, former governor of arkansas and 2016 presidential candidate. like many of you, i've struggled to get a good night's sleep for most of my adult life i wasted at least two hours a day of my life tossing and turning, trying to shut my mind down until about two years ago. that's when i saw an ad on tv for relaxium sleep. i decided to order it and it literally changed my life. developed by renowned neurologist and sleep expert dr eric celebrity relaxium sleep is clinically proven to help you fall asleep, stay asleep and wake up refreshed. relaxium exclusive triple action formula addresses three key factors that contribute to insomnia. i like that it's noncapital warming. it's made in the usa. there's simply nothing else like it. relaxium sleep comes with a 100% moneybag intake so you have nothing

more than 15,000 etsy sellers signed a petition protesting and temporarily removed their products from for improvements to the website. breaking news out of new york city. at least five people shot at a subway station in brooklyn, the latest on the manhunt underway for the person who opened fire. inflation hits a 40 year high in the united states. president biden's announcement today on how he plans to cut gas prices and why some groups are against it. and the pentagon now investigating reports that russia may have used chemical weapons against ukraine, the target civilians in one of ukraine's largest cities. from ktvu. fox two news. this is mornings onto all right. good morning, everyone. welcome back to mornings onto it is tuesday, april 12th and mike mibach. good morning. i'm gasia mikaelian w, fooled by the sun behind us on the oakland is very it is cold out there. see, paul says here to run down the current temperatures. mike and i were discussing the giants game. it was a candlestick last night, right kind of night. it was a cold, windy one, and it's still breezy and cold for som

. >> dana: etsy telling allies getting ready for a run, some in the media are now saying they will wanthim is not looking promising. kamala harris ridicule after delivering the speech. >> i think everything recognizes how extraordinary it is. whether it is satellite that orbit the earth, humans that land on the moon or telescopes that peer into the furthest reaches of the universe. space is exciting. >> dana: waiting in the wings is bernie sanders, not going out for another run for the white house. as president joe biden decides not to run for reelection. >> greg: yes, he's always into space. she's got a lot of it between your ears. does that mean? no that's mean. [laughs] she's a smart lady but she talks like we asked her where babies come from. [laughs] as i come at eight there's a stored that dropped you off on ma'am mommy sports. i get memories when she's talking. that is california? you known him to move on. see hillary was supposed to come back, bernie. the democratic bench is thinner than chris wallace's demo reel from cnn plus. [laughs] thanks i just needed to get that in there.

kumasi: i'm 17,000 people who sell items on itsy -- some 17,000 people who sell items on etsy are on the move is the first of many steps they will take an they are working to form a union. the effort comes two months after the platform reported an all-time high in sales and revenue. reggie: doordash has come up with a special treat for students. college and graduate student can enroll in a special plan for five dollars per month. it includes perks like class back -- cashback in unlimited orders. there is a new way to show what you love on netflix. a new feature is the biggest change to the rating system in five years. when you are done watching something that you really liked on netflix, you can give it to thumbs up -- two thumbs up instead of just one. kumasi: i just watched "bridgerton." reggie: where are the queer characters on "bridgerton?" noah lived like that pectin? drew-- no one lived like that bk sometimes i do not get that there is an algorithm in i am like, what is this? i don't want to see this. good morning. it is a cold start thursday. a lot colder than yesterday. the s

make it a super etsy by taking the company private, i think musk could fix all this.in a publicly trading twitter it's much easier for privately held companies to sacrifice short term performance in order to build a foundation for longer term growth. if i were on the board of twirtd, i would appoint a special committee to analyze the merits of musk' bid. is he serious, does he have partners, if they're satisfied, they should take it, because right now, twitter seems to have no vision. better to take a serious musk bid in the mid$50s if musk sells, twitter is going back to the $30s i don't know what musk wants to do with the platform maybe his plans are crazy, but again, between crazy and nothing, give me crazy any day of the week. i like to say there's always a bull market somewhere. i promise to try to find if just for you on "mad money. i'm jim cramer see you next time. the news with shepard smith starts now. >>> remember the ship that the ukrainians told, go f yourself? it just got aft. i'm shepard smith, this is the news on cnbc. >>> a major russian warship sunk .

etsy are now on strike. they're not happy about higher fees.er cheney, christmas pay to cheney has that story. >> you know, when you list your product for one thing and you're getting so much less for it, then you should it just kind of hard to want to list on at the u actually. bill breaux is new to at scene, but already may stop selling her clay hearings on the site. the online marketplace requires sellers to pay a fee per listing in february. as you reported, an all-time high for sales and revenue. but starting today at the rates are hiking from 5% to 6.5% doesn't sound like a lot until you're selling one more. and it's like you're not making as much as you should for a product. as he says, the changes come directly from sellers feedback that sellers are upset about the fee increase because it will benefit them. the company says it will invest that extra money in marketing technology and customer support tools. a spokesperson him, as he says, in part our stellar success is a top priority. we're committed to providing great value, say are abl

hour on power lunch some of the names hitting new 2 52-week lows it includes salesforce, charter, etsypaypal and charter paypal at $86. this was a $300 stock at the recent highs it's down more than 70% from the levels this is trading at march 2020 lows in other words, as if the pandemic had just broken out now, as for what's working today, how about the chinese internet names j.d j.d.com. match.com has now turned lower yesterday it closed at an all-time low it was trying to rally it's almost 60% off the recent highs. now to tyler for a cnbc news update >> thank you very much here's your cnbc news update near flag staff, arizona 30 homes destroyed by wildfires strong winds eased on thursday, but are expected to return today and continue through the weekend. on the news with shep smith tonight, it's not just wind. see why wildfire warnings are stretching from arizona all the way to the southernrockies >> in france campaigning is wrapping up ahead of the country's presidential election on sunday. it could be close. president macron says his current lead in the polls is not a guarantee of

epam, technology, digital consulting site, engineering services is 49% below its long-term trend, etsyn 48% and moderna's 46% below. each is in the nasdaq traded except for epam an nyse listed stock and they represent some of the deeper value situations where people may say it's fallen enough or is it the falling knife that i don't want to catch because it could still go down more. >> epam might be the one affected by the ukraine operations that it has as well to your point there are a couple of names like epam or netflix where the story has changed for good and a couple of others, the jury is maybe out. >> what kind of caught my attention the notion that you have brand nape notice there, earlier this hour i saw -- i was intensely watching that segment you had on social media stocks that were hit pretty big number seven on the list of the s&p 500 stocks that's the most away is meta platforms, of course, so talking about some brand name situations where there are, yes, fundamental and headwinds at play there. if you look at the way some investors are trying to figure out whether or not

companies like carvana and etsy, shopify, they've had two to three years of boost business pulled forward, we're giving a little of that back now is very difficult to model coming out of the pandemic, and i think there still be a squishiness in coming quart rs nonetheless, they pulled forward meaningful period of time and ultimately will march ahead at similar market share gains they had predating the pandemic once we get back to normalization. >> right and the pull forward and the valuation reset, do the two match for the most part in aggregate in your universe >> they do there's not a commonality to the theme in the report. we do go through it one by one i would say overall that valuations are still a little bit higher than they were before the pandemic but, when you adjust for the increase in the size of the company, argue the stocks are cheaper today than they were in february, 2020 >> scott, what about the possibility that the argument i'll make that either amazon's costs go up significantly here or their velocity slows down, right? if they've got to abide by certain rules, make conc

more than 15,000 etsy sellers have signed a petition in protest and temporarily removed their productsor the next week, etc. says the increased fees are necessary to pay for improvements. to the site. singer britney spears announced that she is having another baby. she made this announcement on instagram. her fiance also shared the news on instagram, saying fatherhood is something he has always looked forward to. britney spears has two teenage sons with her ex husband. alright we could give her some advice, but we'll let her family learned that on her own exciting news. thank you so much for joining us here at noon. remember it is cold and ne ktvu app and of course ktvu dren rich sauce.d of course ktvu dren >> the secret to the perfect bowl of ramen and slurping as encouraged -- is encouraged. >> and how to make your ramen to use a stir-fry. >> chef has the perfect red wine risotto. >> delicious. that is next. >> let's dish. >> the kitchen has always been at the center of my world because life is more delicious when it is full of food and fun. >> everybody knows me as a culinary expert

in this case, it feels a little more like when he was doing game stock or etsy or doj coin. sure what he wants in this case. and taking it over would be a very pricey situation even for the world's richest man. >> meantime, the impact on i guess employees for sure, kara, but more broadly users who are wondering what changes may be coming down the road how tumultuous is that >> you act like he has power to do this. he can just tweet at you it doesn't mean he can make it so this is a company as they noted in their letter about this that they're running things, for now, at least he would have to do a hostile take over, take over the company. it's a very long and arduous process. and he could just tweet at them. it doesn't mean they have to do it lots of people tweet at me and i don't listen to them any way whatsoever and he is elon musk, right he might get bore and move on. he definitely loves twitter for sure as a habit, like a lot of us do. >> i think back to a conversation you had with him at your conference in california last summer in which he kind of talked about tweeting

thousands of etsy sellers are kicking off one week strike today over increasing commissions.rges sellers on each transaction have gone up from 5% to 6.5. more than 15,000, etc. sellers have now signed a petition in protest and have temporarily removed their products from the web site for the next week and etc. executive told the wall street journal that the higher fees are necessary to help pay for improvements in the sights reliability. on wall street markets finished lower today as investors worry that covid-19 lockdowns in china could drag down the global economy. the doubt dropped 413 points today are more than 1. nasdaq finished lower by nearly 300 points are more than 2% the s and p end of the day down. 76 investment firms are also bracing for the release of a key government report on inflation tomorrow. the big story of the day has been the very windy conditions and sure we had a little bit of rain, but there's a next storm queued up, ready to head this way, and we'll track it together. let's go to ktvu claudine wang. now with a look at some of the stories we are worki

plus your favorite etsy shop? maybe shut down this week. why sellers say they have to do it and the support they are getting from customers. those stories and more coming up at seven on ktvu. plus claudine. thank you, but first after the break, lingering supply chain issues may be starting to improve the signs that the price of everyday items may soon (music throughout) strn effort to bring down gas prices amid russia's invasion of ukraine. the president announced today that the epa will issue an emergency waiver permitting year round sales of e 15 gasoline, which contains a 15% ethanol blend. it's corn based, and it's about 10 cents cheaper on average. president biden today tide rising fuel costs directly to russian president vladimir putin and the war in ukraine. i'm doing everything within my power by executive orders to bring down the price and address putin prices. in fact, we've already made progress since march and flesh and data was collected. your family budget your ability to fill up your tank. none of us should hinge on whether a

to boycott etsy as well. voting to unionize. b1 stock is up. lauren: down 46%. stuart: let me update the supply chain stories. the us has ordered nonemergency staff to leave shanghai after a lockdown was imposed, residents have been confined to their homes for up to 3 weeks. i will show you this video again. they are shouting and screaming. they want food, medicine, daily necessities and they want it now. china's lockdown raising concerns over more supply chain problems. are we going to get more price spikes? >> reporter: the concern is these supply chains will drive prices higher for americans moving forward. the lockdown reaching high-impact of 25 million people, many of entrapped in their homes for weeks at it means they can't go to work and transportation hubs don't have the workers they need to keep cargo moving. hundreds of the vessels carrying copper and iron are not stranded offshore as truckers are forced to stay away. more than half of us multinational companies cut their revenue -- annual revenue p

let me have a look at etsy if we can.er a week-long protest over the company hiking fees by 30%, the stock is down 47% year-to-date and drifting dangerously close to their annual bottom of 109 bucks in fact its gone through there. now let's take a look at meta. it's what'sapp messaging platform rolling out their new communities feature, it allows for up to 32 members to speak to each other all at once, not dog much for the stock, meta essentially flat at 210. now this. homicides in philadelphia are up 9% just this year alone, our very own jeff flock is there and it seems people are just fed up with crime and some cities now wanting to refund the police. what an idea, jeff flock. reporter: yeah, everything old is new again, ashley, in some ways. i'm at the 35th police district here on the north side of philadelphia and the city is now , yes, refunding the police. they're devoting more money in their budget to police as i stand here outside the 35th police district headquarters, if you see a mural there to the folks that ha

etsy, i call them -- lauren: oh!rs are boycotting the site, they say it's pandemic profiteering, etsy is down 44% this year coming into today but yeah just down half a percent. stuart: down 44% this year? calendar year? lauren: correct. stuart: that's a sharp loss. how about netflix down a fraction. lauren: so the hbo max boss says ads might be coming to netflix because everybody is trying to get to that 1 billion user mark. you have disney trying to do that, hbo max owned by warner media and netflix so how do you do that? you might have to lessen the price of your service to get more eyeballs and that means -- stuart: pay for it. lauren: the advertisements. the other difference between hbo and netflix is you can binge on netflix which i happen to like. hbo, weekly episodes so you canterbury binge. stuart: thank you, lauren that's a good stuff, have a look at this a cargo plane splits in half after an emergency landing. there was no explosion, no one was hurt, we'll tell you what happened i'm really getting a good lo

it will prohibit users from sharing climate misinformation on the platform, forcing them to move to etsyghter ] and, finally, nasa announced this week that an asteroid the size of a small house flew by earth. and this is crazy, it got three offers on zillow [ laughter ] and that was a monologue, everybody! [ cheers and applause we got a great show for you tonight. you know him from shows like "true blood" and the "magic mike" franchise his newest is "metal lords," and it's on netflix friday joe manganiello will be here we're so happy to have him back. [ cheers and applause and he is a talented comic whose one-man show, "just for us," is a critical hit you can see it at the soho playhouse here in new york city through april 30th alex edelman will also be joining us [ cheers and applause plus, you guys, this is a real thing i did. i wrote a book called "i'm not scared, you're scared." and do you want to know which nbc talk show host is on the top of the "new york times" best-sellers list as of yesterday? it's jimmy fallon. [ laughter ] jimmy fallon is number one i'm also on the list [ chee

by leading here, leading in ieee, we have also been able to lead in etsy.again, being a first mover is important. >> thank you, yield back. >> gentleman's time has expired. seeing no more members, the chair requests unanimous consent toer in the following records and other information into the record a. letter from a broad range of 20 carriers and members of the wireless ecosystem urging congress to extend the fcc's spectrum auction authority. letter from digital liberty to the house subcommittee on communications and technology. without objection, that is so ordered. i want to thank our witnesses for their participation in today's hearing. i would remind members that pursuant to committee rules, they have ten business days to submit additional questions for the record to be answered by the witnesses who have appeared. and i would ask the witnesses to please respond promptly to any such questions that you may receive. at this time, the committee is adjourned. [ indistinct chatter ] >>> with increased gas prices, the house energy and commerce committee hears

s&p down 1.9% for the nasdaq the worst performers were three companies that surged in stay-at-home etsy and paypal and netflix. occidental and marathon are gaining. crude oil prices are back below $100 a barrel. this comes after president biden announced the plans to tap the oil reserves we will have more on that in a few minutes. wti is $134. andrew >>> thank you. the market is getting a sign the recession is on the horizon. that is what everybody is talking about. yield curve inverting after the closing bell the 30-year at 2.5% of 2-year at $2.39. let's talk to steve liesman this morning. >> andrew, yeah. let's do the background. flirting with the zero line earlier this week and giving off a false negative the spread officially inverted yesterday. that is it went below zero with the longer dated yield was belo the shorter. some some thought it meant recession. others thought it meant nothing. it now stands 0.15% of the spread blink your eyes and it could be negative this is a concern because the markets think the fed will raise rates too high and too quickly prompting recession and pr

a fuel surcharge i know, becky, we debated a day or two ago the charges for third-party sellers on etsy. it had gone from 5% to 6.5%. amazon addressing the additional costs. >> that's a big difference 5% increase versus 30% increase. if you are going from 5% to 6.5% that is a bigger increase. >> third-party sellers on amazon and walmart and e-bay are typically paying first order commission rates if you will somewhere between 10% and 15%. in terms of the context of all this we're also catching up with a few other leaders today at amazon david is joining us in a little bit. i want to get to breaking news happening right now. that is really one of the other reasons we wanted to be here this morning andy jassy's first shareholder letter is out. he reflects on the pandemic and aws business he spearheaded, by the way, we will talk about that and consumer business which he calls different demand during the pandemic aws revenue back to the 2019 levels at 37% year over year growth on the consumer side, he writes amazon realized equal of three years forecasted growth in 15 months amazon doubled a