alibaba spiking a little bit, up more than 3%. rishaad: let's look at the market action, a day of gains, and looking at what is happening with u.s. futures, look at what's going on for the overall index. .8%, and look at some of the individual benchmarks. the hang seng up about 1%, really needs it, four straight years of losses now for this benchmark. the nikkei up nearly 30% to the upside to the course of 2023. for the moment we have stocks seeing a boost, a positive session, a bullish run expected into 2024. and the lead up to what we saw yesterday, the boj. it is up 21% so far this year. bad weather in brazil, coffee rallying amid speculation about above average temperatures for the world's biggest producer. beware of how much your cup is going to cost you. benedetto: let's shift -- let's shift back. one of the factors that could drive those price pressures, we been hearing from different fed officials in the last couple of hours. the atlanta fed president, austan goolsbee again giving his views, pushing back on that narrative

hey. >> hey morgan, and alibaba has been under performing for years. it's the latest attempt to win back investor confidence. it's another executive shakeup. this time giving its ceo greater control over its ecommerce business. continues to really stay out of the picture, but it comes after alibaba has lost its crown to pdd, as china's most valuable e- commerce company. pdd has done what alibaba was never able to do. that is capture the american consumer. but really the shakeup in the chinese tech landscape is broader and more dramatic than what happened in e-commerce. we spent a lot of time talking about it. it was left for dead a few years ago under the effects of u.s. sanctions. it has release add smart phone powered by its own made in china chip. that has put none other than apple on the back foot. and then there is tiktok parent, bytedance, and continues to be the world's most valuable startup. it might be interesting to think of it as two buckets emerging. the chinese old guard and the chinese new guard. no longer are nvestors as excited about th

how the company is outpacing alibaba.trade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly. ed: first up in the news, apple said it shut down third-party applications, enabling android devices to use i message to communicate with iphone users, citing significant risk to user security and privacy. shares of the south korean firm wider planet, which uses ai to produce advertising, jumped 69% in two sessions after it said squid game's lead start would its biggest shareholder. tiktok agreed to invest $1.5 billion to combine it shopping businesses with indonesia's go to group. tiktok gets a 75% stake. caroline: let's talk about e-commerce more broadly. little-known pdd has been surging in china. now it's

. >>> plus alibaba's chief takes matters into its own hands. >>> and later disney cuts the ribbon on the new effort addition in shanghai, but will it be enough to jolt frustrated investors? it's wednesday, december 20th, 2023. you're watching "worldwide exchange" right here on cnbc. ♪ >>> good morning and welcome to "worldwide exchange." i'm frank holland. let's get you ready to start the day. as always we kick off the hour with a check of u.s. stock futures and take a look here. it's different than what we've seen in recent days. hardt hit. nasdaq the oss the dow sterday coming off its fifth record close of the year. you see e uptrd right there. a trip to cnbc guru robert hunt, entifyg the biggt ue chiwinners over the last ni trang sessions. number one, waart followed very closelyy caterpillar and chipmaker intel. the s&p for its part now, just highkrjtly sitting at its me highest level since 2022. look at the yield onhe benchmk 10-year, a couplof sis points tn we s yesterday. energy, specifically oil. wetart wh wti, the u.s. bencark tring at 74.83, the barrel up over 1%. brent crud

he will instead help set up a holding firm for managing alibaba's global assets.ims on crypto exchange empty x are soaring, trading at 57, $.73 on the dollar. unclear whether distributions will actually be made or how much customers and creditors will receive. let us talk about a little imelda customers will be receiving from the alphabet case. 700 million deal was agreed to alter its google play app store. many are now pointing out some of the loopholes around developer service fees. let us get more context. before we get into the fact that a consumer in this case would get about two dollars from google and the $700 million settlement. but ultimately people are nitpicking here is the fact that they were not to change their business model that much. the month they charged to the developer? >> google has made a concession here with a steel where they are going to allow developers to give users access to alternate payment options. they can use paypal or anything else as its own billing system instead of going through the google pay billing system. they charged 30% a

it's all about pdd. >> who got alibaba? >> who got alibaba? is this something to do with -- >> nvidia! they couldn't do the data center spinoff. >> that's true. alibaba shares have been down in part because of the decision not to be able to spin data because they couldn't get ahold of the advanced chips they felt they needed to. you can see since they reported numbers and since they told us that -- >> that was the flavor of the month. >> moody's downgrade for a controlled economy is kind of an oxymoron. the chinese can call moodies and say what do you want us to do and they'll do it. they sound like us where there's like 535 people calling and saying what do you want to do. they have one guy. one guy is all you need. >> for more on china, let's get get to our beijing bureau chief eunice yoon talk about the broad context of the economy. hey, eunice. >> hi, guys. jim, you and i have spoken about this a bit. one of the big reasons you don't see the chinese government going in and trying to sort things out is because of the cost involved. so i thi

shares are down after alibaba is cutting shares.it is part of the strategy to monetize investment and not a reflection of the due change. >> let's have a look at this. more chinese agencies and firms being ordered to tell staff to stop bringing iphones to work. they have been told to carry local brands instead. >> we are seeing more state firms and government agencies across these provinces asking employees not to bring a foreign device to work. this includes coastal provinces in the south of china. this also extends to northern provinces. this is a signal of efforts by china to reduce reliance on american technology. and to expedite the development of their homegrown tech. we are seeing a shift in chinese efforts to foster more domestic brands. ordering staff insensitive departments to use more chinese made technology. >> we have already seen this as some chinese government agencies . why we think a further extension now? >> china has been consistently trying to build its own technology. beijing is moving in the direction of key go

>> ethereum trust, it's up, it sill has more gas in the tank. >> alibaba.sues and regulations, but price is back to ipo levels, 10 fold increase in revenue. earnings take a look at it. >> guy? >> happy holidays, merry christmas to everybody. mid tronnics, getting a bounce here. >> see you in the new year. thank you for watching "fast money." ar rhtowr " with jim crame sttsig n. >> my mission is simple. to make you money. i'm here to level the playing field for all investors. i promise to help you find it. mad money starts right now. hey, i'm kramer. welcome to mad money. i'm just trying to make you some money. my job is not just entertain, but to educate you, to teach you to be better and best. so call me or tweet me at jim cramer

alibaba all is replaced executives in plants to create a firm to oversee assets.u will take over the commerce business replacing trudy die in a series of changes at the once dominant operator. it is becoming synonymous with changes in management. their management has changed consistently and stability is a big question for investors. sticking with tech and bringing it global i'm going to start this over. i keep getting my years mixed up but i'm excited for the new year. 2023 is the year ai went mainstream. openai, chatgpt move from being obscure research into a household name. joining me is bloomberg's aggie cantrell all over the story. oh start with the openai story. big drama recently. walk us through the big winners. aggie: openai, the investment from microsoft kicked off the year's as a significant push into artificial intelligence. with the launch of chatgpt there was a focus for a lot of companies that realized that when it comes to chatbots they are more capable than people believed. we saw ai become relevant because of that but subsequently many other comp

major technology players — including apple and google in the us and china's alibaba and tencent — haveown ai models. meanwhile, european union countries are trying to reach an agreement on rules governing ai. joining us now to look at what this all means is maribel lopez from lopez research. it's a real win for the ai industry, given the breadth of companies and countries, we expect there is going to be a regulation that comes out of it, were trusted and secure ai, and more collaboration in this sace. ,,, ., ~ and more collaboration in this sace. ., ., space. speaking of more innovation _ space. speaking of more innovation and _ space. speaking of more - innovation and collaboration, what do you think of the eu union is being called the world's first comprehensive artificial intelligence rules? the eu is actually very ahead in the industry in terms of actually trying to quantify this and put risk entities behind regulations, but it's no surprise when the rubber meets the road, people want innovation, they also want security and both of those are highly debated topics with the eu acted

alibaba and jd.com rising. alibaba up 1.5%. jd.com up 5%.ollowing fresh stimulus from beijing. the people's bank of china announcing $113 billion in one-year loans. the record cash injection into the banking system in the bid to boost the struggling property market. the etfs impacted are invesco up over 1%. similar for crane shares. china internet and k-web and the ishares. >>> coming up here on "worldwide exchange," the one word every investor needs to know today and stocks are set to close out a record setting week. the under the radar names our next guest says she is finding fresh opportunity in 2024. >>> if you haven't already, follow our podcast. check us out on apple or other podcast apps. more "wex" coming up after this. >>> welcome back to "worldwide exchange." time for the "wex wrap-up." lennar under pressure despite beating estimates. the home builder delivering 19% more homes from a year ago. >>> rtx naming christopher calio as the new ceo. calio will succeed greg hayes next may. he will take on the tasks the aircrafts recalled. >

. >> shares of alibaba down today. moving the e-commerce from equal weight to lower weight.gan stanley opting instead to favor pin duo duo in the space. pdd of course the owner operator of temu, which competes with shein, the goods you can buy shipped directly from china. grasso, you agree with this call. >> if you would have told me about this call a ways back i would say i agree with it. nothing bad about morgan stanley specifically, but when you look at these calls, sometimes they're a little late. room to breathe on alibaba, i'd rather do the reverse, but a buyer than a seller. >> mike khouw, where do you stand? there's a report that jack ma came back and posted an internal message to the company saying, come on troops, rally, we can do it. >> i played baba on the long side. we had some bullish moves in a few of the chinese stocks going into the biden's meeting with xi. i think there was bullish sentiment there. but overall i feel like the chinese stocks are really in quite big trouble. this is probably a big question for carter, but i'm eyeing that october 22 low in fxi

morgan stanley downgrading its price target for alibaba.value unlocked from that organization. coverage of boeing with a buy rating, the company along with the industry as a whole will see a better chance for improvement around new production rather than further pullbacks. citi saying while it likes the execution of spotify it no longer believes the risk/reward scenario is compelling. >>> we start with the president of the uae announcing a $30 billion climate fund during the start of the cop28 summit and will fund solutions for climate change and need to stimulate $250 billion in investment by 2030. a surprise in the latest read on the manufacturing sector. pmi unexpectedly expanded rising from october and beating estimates. >>> some relief for factories in the eurozone. the pmi showing an uptick from october but the reading remaining below the 50 market indicating a contraction in activity. >>> coming up here on "wex" as the markets continue to add to their rally, why our next guest is questioning a repeat for 2024. we will be right back.

the impact of ai, alibaba is changing strategies. there are opportunities.o think of energy and utilities as part of the value and yield strategies as a defensive play, if the volatility does pickup, we prefer some property risk going forward. rishaad: does the trend continue? >> urgency for policymakers to turnaround. the analysis shows holdings at 74%. yvonne: we will leave it there. yvonne: we will leave it there. dear moms and dads, what you have achieved here today is going to help us and our futures. it is why we're coming up on stage to collect your diplomas. mom, love you always. vo: when you graduate, they graduate. visit finishyourdiploma.org to find free and supportive adult education centers near you. (aidyl) hi, i'm aidyl, and i lost 90 pounds on golo. i struggled with weight loss and weight gain my entire life. with all the yo-yo dieting i did in the past, i would lose 20, 30, 50 pounds just to gain them over and over again. in one year, i've lost five sizes, and i'm on my way to lose another three. with golo, i can do it. (announcer) change yo

temu parent pinduoduo has surpassed alibaba in market cap that is a huge reversal of fortunes showing part thanks to temu and how far alibaba has fallen, there's been such an uphe uph upheaval. we didn't even have chinese apps that american consumers really on a significant scale. now we have three. tiktokpinduoduo and shein. >> for sure. and you mentioned, dee, the biden administration looking perhaps to place some restrictions on tiktok a the approach is national security concerns or privacy, not gting at what ems to be bothering folks, elon musk saying tiktok is probing his brain this week, but the viralty and the messing, the misinformation, the contt and how it travels. nothing really seems to be targeting that. >> i think that will certainly be a bigger point of discussion and debate especially in the year leading up to the next presidential eleion. the report meta put out that said there's more chinese there are a lot of worries and mike rogers, admiral mike rogersformer director of the nsa, talked about thatjust his concerns about mipulation that wod be so important in an elec

. >>> squishmallows are suing alibaba. in new york rejected the chinese e-commerce company's request to dismiss the case filed by kelly toys, the maker of the popular plush toys. the suit alleges that the alibaba online platform was used to sell counterfeit squishmallows. kelly toll always is owned by joe's toys, a parent company who is controlled by warren buffett's berkshire. >>> the latest read on the health of housing. we will take a look at which regions fared the best in november and what impact the recent flialng mortgage rates have had on buyers. that and more when we take you inside the market. ♪ when better money habits® content first started coming out, it expanded what i could do for special olympics athletes with developmental needs. thousands of bank of america employees like scott spend countless hours volunteering to teach people how to reach their financial goals. it felt good. it felt like i could take on the whole world. that first time you take a step back. i made that. with your very own online store.

and alibaba, negative. lot more coming your way, including that opening bell. stay with us.laflare added a 25th hour to the day, businesses are wondering "what should we do with it?" bacon and eggs 25/7. you're darn right. solar stocks are up 20% with the additional hour in the day. [ clocks ticking ] i'm ruined. with the extra hour i'm thinking companywide power nap. let's put it to a vote. [ all snoring ] this is going to wreak havoc on overtime approvals. anything can change the world of work. from hr to payroll, adp designs forward-thinking solutions to take on the next anything. >> announcer: the opening bell is brought to you by nuveen, leader in income, alternatives, and responsible investing. >>> as we let the strong growth this year, consumer spend has remained healthy. while we eect growth will continue to normalize to storic ranges, we remain confident the category will continue to ow, barring a macroeconomic event. in addition to factors that have driven the category historically, including a strong emotionaconnection with consumers, newness and innovaon, and soc

tossed away. meanwhile, a woman fleeing from northern gods as given birth to quadruplets and a dia, alibaba hospital. the mother gave birth by c section on one of our our, the hospital, which is one of the few still operating in the area. the say, the children charles, he says sufficient to just have medicine, water and food. have had a significant impacts on both pregnant and breast feeding. women dates shows around a 100 dates of women give birth daily and gaza. the mother of the for new bones had this to say about her experience of finance buddies. machine them is if it's the way we will, long distance is cycle tires and wanted to leave. but got the thing go, the doctors helped me and meet with injections symbolizes. and i, when, when i am to the hospital, they decided i needed necessary not to ration from you. i was still a name and candidate to unit a blog, adoption thing. gotcha. and delivered at least 3 healthy babies. and the other one has the suffrage from a shortage of diapers and milk. and i'm, i also suffered from longer food drink, but thing got 5 racing. we can was fun. there

passed away. meanwhile, a woman fleeing from northern garza has given the 2 quads rupert's in a dia, alibaba hospital. the mother gave birth by his evian section of our out of hospital one of the few still operating in the area. the say the children shots, he says the vis shortages of medicine, clean, bolts, and food. i've had a significant impact on pregnant or breastfeeding women. when data shows are 180 women to give birth, daily and gaza. the mother of the for newborns have this to say about the experience. the finance studied machine in mississippi on the way we will long distance as cycle tired and went into labor at the same goal. deduct has helped me and meet with injection stabilizes. and i, when, when i am to the hospital, they decided i needed necessary. now peroration was still a name and candidates, a unit of blog consumption. st. gotcha. and delivered at least 3 healthy babies. and that one has the suffers from a shortage of diapers and milk. and i also suffered from lack of food, drink a thing, got for everything we can was fun. there was a smell of gas belongs but constricted

the alibaba's and the tencent's have been reined in. i mentioned the online education problem. you say you want foreign investors, but you're making it harder and harder for foreigners to live there and to the hong kong example is not so great in terms of the national security law. and so we need some help from beijing, not just from washington. that's a great place to end our conversation on. thank you so much. it's great having you here. and thank you, everybody. if you join me in thanking dr. rice.offer. >> congratulations on thirty years sfgovtv. your that excellence award-winning programming be shines the light would people need to know about the city thank you for your all you do to show the heritage and bright future more importantly and thank you for your thirty >> shop and dine in the 49 promotes local businesses and challenges residents to do their business in the 49 square files of san francisco. we help san francisco remain unique, successful and right vi. so where will you shop and dine in the 49? >> i'm one of three owners here in san francisco and we provide most

the alibaba's and the tencent's have been reined in. i mentioned the online education problem. you say you want foreign investors, but you're making it harder and harder for foreigners to live there and to the hong kong example is not so great in terms of the national security law. and so we need some help from beijing, not just from washington. that's a great place to end our conversation on. thank you so much. it's great having you here. and thank you, everybody. if you join me in thanking dr. rice. >> bob morts, global german and chief executive officer of pwc. >> good morning everyone. thank you to be the early birds. sitting here, fighting all the possibilities so that we guarantee a great conversation and my name is kim way, the moderator for this panel. the gobel economy and state of the world. i am

destroyed buildings, desperately hoping to find survivors or the nearby central garden city of the alibaba at least 6 people, including a journalist, word killed by his release showing on saturday. that's according to the red presence of mind is having group slides, the mounting civilian casualties, israel's prime minister says he owns thoughts will not be ending any time soon. i and then come up, the war is in full swing. we are fighting on all fronts with great success, but we are also paying a painful price. achieving victory requires more time. as the chief of staff has said this week, the war will continue for many more months. my policy is clear. we will fight until the completion of all the objectives of the war and above all, the elimination of from us and the release of all these rarely hostages, who, meanwhile, in southern gauze, so the idea says it's rated how most headquarters in the city of calling you nice as well, claims of so it's it belongs to the minutes in groups intelligence chief of the regents, the largest city has become an area of incense fights. and as of the israe

jack ma and alibaba. >> that is changing.lled platform compani like alibaba is a good example or tencent they are now recognizing those companies are important to tir what they're trying to do is, on one hand, they want the party to continue to be the powerfu center of economicctivity and economic picy. they don't like the idea and they are concerned about the idea as you have in russia of oligarchs anthings like that. they have squelchesome of the big companies. on the other hand, they have a lot of technologies and cabilities. they s we will treat you in a more constructive way,ut utilize your strength and digital power, in effect, to try to help some of the aller companies as parof the common prosperity thing and helping the smaller companies that are not doing so well. including private sector companies. i met a lot of private sector companies which you see a change in attitude. a most positive attitude toward them and including the big alibaba companies to be helpful. >> bob, we are almost out of time. your prediction fo

the judge in new york ruled alibaba must face a lawsuit by the u.s.to sell counterfeit squishmallows. the court refused the alibaba request to dismiss the case by kelly holdings. kelly makes the toys. leslie, this is a test. the kelly toys is owned by jazz wears owned by allegheny corporation. that is a corporation owned by berkshire hathaway which is owned by warren buffett. can you repeat that? bu warren buffett and berkshire, kelly and allegheny. >> it was an insurance business. >> why does allegheny own a toy company? >> they were building a mini berk berkshire. big presence at the warren buffett berkshire. >>> coming up, tapping into the $37 billion youth participant -- >> 37 billion children in america. >> big time investors are looking to get into the business. let's say this is not the "bad news bears."lions >> announcer: executive edge is sponsored by at&t business. next level moments need the next level network. - so, the question is... - cyber attack! as cyber criminals expand their toolkit, we must expand as well. we need to rethink... nex

alibaba sharesa big focus on c suite moves.> no i'm actually going to come and see you during a commercial break. becky was there earlier this week. i didn't get a chance to see her in person. i'll walk right over that way, maybe 75 yards, like half sand wedge. >> do you deliver? >> i can deliver. >> chicken wings or something or -- >> i'll tell you what, i think wednesdays in our cafeteria here is chicken wing day. >> is it open? >> it opens at 6:30 a.m. i'll find chicken wings and bring them on set for you over there. >> we're in kind of the calm before the storm, sports-wise, aren't we? looking, it is like -- this is like xavier plays, but it is coming, isn't it? it is coming. >> the whole thing. there is so much going on in college -- >> so many bowls, the toilet bowl, the -- there is a bowl for everything. there must be 40 bowls. >> there are. >> where rutgers is going. >> exactly. >> at yankee stadium. >> that's going to be a fun one too. listen, there is a chance for a lot of sports fans to get what they want around the

the alibaba's and the tencent's have been reined in. i mentioned the online education problem. you say you want foreign investors, but you're making it harder and harder for foreigners to live there and to the hong kong example is not so great in terms of the national security law. and so we need some help from beijing, not just from washington. that's a great place to end our conversation on. thank you so much. it's great having you here. and thank you, everybody. if you join me you, everybody. if you join me >>> hi, i'm chris and you are watching san francisco rising. this is about rebuilding and reimaging the city. we will talk about revitalizing downtown. >> thank you for having me. >> the initiatives in the downtown area and enjoy businesses. perhaps you can tell us about your plan. >> yeah, sure. well, you know, first i'd like to acknowledge we are here visiting union scare. this is the heart of the city and people come to celebrate life's greatest moments whether it's the holidays or buying your prom dress or getting married. you always think about union square as a plac

. >> let's do alibaba. that's from overweight morgan stanley.g it up because, rob sechan, you bought more today. >> indeed. we increased the weight in our portfolio. it's an underweighted grower at a reasonable price. it's a bit of a turnaround story. when you're starting to see sales re-accelerate, you have a dominant market share. you have mid teams free cash flow yield and it's cheap, historical average and a huge discount to its u.s. peers. it's a good day to add to the position. >> i got a call on j&j the price target goes to 180 from 167. j&j is up, having a nice day today, too. you own that. >> i've owned it for a long time. we own it in our dividend portfolio. it's a small position. the company gives a decent 3% yield, trades at 15 times forward, which makes it more interesting and the expectations are low. in addition i think you can see health care perform in '24 and this company is refocusing on its core pharma business. >> jimmy, how about boeing, which is up 23% over the last month, initiated today a buy a stifel. they go 265. the s

. >>> alibaba was hit with a $100 million fine was found to abuse market dominance. >>> the u.s.itary is trying to convince shippers to sail through the red sea despite houthi attacks. the companyies are speaking wit the pentagon to ensure safe passage. >>> and u.s. mutual funds are hitting back on pricing methods proposed by the s.e.c. saying they would drive away choice and weaken the american retirement system. the s.e.c. proposed the rules. >>> and the first woman to reach the $100 billion with tl'oreal heir. >>> and we have the major averages sitting at record highs. we see green across the board. the dow moving to the highest level of the morning. let's bring in two friends. jeff kilburg from kkm financial and tiffany mcghee. good morning. happy new year to both of you. >> happy new year. >> good morning, frank. >> i want p toto know how you s the current day. what is your word of the day? tiffany first. >> my word of the day is disco. 2023 is a party and everybody showed up. the s&p on the nine-week winning streak. 2023 is the 12th best year since 1980 for the s&p. i see t

the alibaba's and the tencent's have been reined in. i mentioned the online education problem.you say you want foreign investors, but you're making it harder and harder for foreigners to live there and to the hong kong example is not so great in terms of the national security law. and so we need some help from beijing, not just from washington. that's a great place to end our conversation on. thank you so much. it's great having you here. and thank you, everybody. if you join me in thanking dr. rice. [♪♪♪] >> my family's starts in mexico in a small town. my parents are from a very, very small town. so small, that my dad's brother is married to one of my mom's sisters. it's that small. a lot of folks from that town are here in the city. like most immigrant families, my parents wanted a better life for us. my dad came out here first. i think i was almost two-years-old when he sent for us. my mom and myself came out here. we moved to san francisco early on. in the mission district and moved out to daily city and bounced back to san francisco. we lived across the street from the up

alibaba up close to 4%. the risk assets are bid up as we count down to your holiday cheer.e next hour of bloomberg markets: asia. stay with us. this is bloomberg. ♪ a few years ago, they told me there's no electricity on the island. we always thought that whatever we did here would be an emblem of what small communities can achieve. trying to give a better life to people that don't have the means to do it. si mi papá estuviera vivo, sé que él tuviera orgulloso también de vivir de esta viviendo una vida como la que estamos viviendo ahora. es electricidad aquí es salud. the power goes out, and we still have wifi to do our homework. and that's a good thing? great in my book. who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up. plus, now through december 31st, eligible xfinity rewards members can get 25% off a storm ready wifi device. the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who a

where we see the losses from the hang seng, down 1.4%, being dragged by the likes of tencent, alibaba and meituan, no thanks to chinese cpi numbers over the weekend. they fell much more than expected, highlighting concerns about deflation in the country. our colleagues have pointed out that the drag came from food and not core prices, may be suggesting that demand didn't crash, it is just really weak. that being said, that is not being sheared along by the markets because we are already in a situation where there is no resolution of the property overhang or the debt situation. you might ask where we go from here? if you look at one of the indicators, the csi 300's relative strength index has fallen below 34 the first time since last year, showing oversold conditions. last time we saw this, it took two weeks before the csi 300 actually bottomed. maybe a similar pattern may emerge. lizzy: we will speak more about these inflation prints with jinny yan from icbc shortly. while china may be suffering deflation, for most central banks, it's inflation in focus. it's a massive weight for cent

company pdd and we've been talking about temu, the country's most valuable e-commerce company ahead of alibabak has donee done incredy well, up 75% year-to-date. the journal is writing how china is trying to revolutionize retail. i actually asked the ceo of five below, joel anderson, who came into the studio last week, we were talking to him about growth and i wondered in fact we're seeing temu take market share from five below. here's part of that. watch. >> i want to bring up this chinese retailer temu. the stock has been on fire, a lot of people wondering in fact this is going to be a competitive threat. i recognize that's largely online. you're largely foot traffic. what do you think of temu. >> we respect all retailers. i think they're the latest one of the emerge. they're largely online. i think the impact they're having is largely to other retailers that are largely online. we're 98 are% in-store. we've seen very little impact to us specifically. maria: being real careful there, ryan. but temu is taking market share from american retailers, another chinese company coming in and trying t

so the top five global ad sellers according to group m, alibaba, amazon, bite dance, meta and alafubetertising industry has changed. by 2028 spending on digital advertising will be larger than spending in the entire industry in 20222. >> lastly a story we teased a few times this morning that cost us all by surprise, the price of bitcoin has surged to its highest price in more than a year seemingly after folks were abandoning it, and now gold has also hit an all-time peak. why are these things happening and what does it mean for investors? >> john, i don't know i can fully answer the question about why it's happening. i can give you some thought into what people think might be happening. for bitcoin, itly topped 42,000 yesterday, it's highest level in a year. the kip tow currency has been lifted by hopes of an approval of a bitcoin etf, which is expected today bring a lot more nony into the crypto currency. in the case of gold it's had a really wild ride. it's been on a tear since october. it hit an all-time high but closed down more than 2%. gold has been more in demand as peek have tr

take a looked at alibaba.to a downgrade to equal weight from morgan stanley, but they also cut their price target on this stock from $90 all the way down to $20. the reason for the downgrade? the tech giant is pulling back, apparently, on development of cloud technology. the stock today down almost 2.5% stu. stuart: all the way down to 20 #? that's a radical cut, is it not? ash, thank you. >>> do you remember the star trek actor, bill shatner? well, he says we're going to die if we don't take action on the climate. roll tape. >> very quickly, we're going to die, much sooner than we expected we're going to die. and then the tell us how to avoid it. stuart: we'll tell you what else he had to say as a well. >>> a new report says the cia conducted secret missions the recover at least 9 non-human crafts in the last two decades. griff jenkins has the ufo report next. ♪ (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren

the stock >> alibaba, what are we looking for. >> we are not recommending chinese stocks, it would be i'm not going to get caught. it can bounce and go. let's go to doug in connecticut. doug? >> a, jimmy. >> what's up. >> i hope you have a good game on. >> is a huge game, i don't like you to be on the road with a 12th man. how can i help you. >> well you made a call on squawk on the street a couple of weeks ago and i have to tell you, right after that i picked it up and i'm up 40%. >> you are the man. >> nobodies lost money taking a profit, so what should i do. >> i want to take half off and let the rest run. i think caribbean is the one that is the survivor i appreciate you calling it out for me. let's go to connie. in california. >> hey jim, thanks for all your help. >> you are quite welcome, you son fired up what is going on. >> i never heard of the paradigm until this week, it is good for the long haul. >> it's very good, the equipment is a very well-run company let's go o julian in california. julian. >> my name is jess, i'm a teacher teaching students about stocks and investing,

now, and even though, you know, i stay in this kind of bang your head against the wall range with alibabae it around, you know, that stock, while others and even the rest of emerging markets are breaking out on lower dollar and what not is trading near 52-week lows. i think this is a story that's going to continue to play out and i think it's a story that probably underscores why most investors don't feel they feed to invest here. >> yeah, i sort of shows you how there can be a tit for tat, if these governments wanted there to be a tit for tat, julie. >> yeah, it definitely feels like siblings arguing at this point. and it's hard to keep track of where the real linchpins are. if you look on the semiconductor side, this is the place where china is absolutely the weakest. they do not have the capacity or ability to produce the kinds of chips that the likes of nvidia are making, and they can't do a.i. with those chips. they recognize they have the programming talent, because we're all addicted to tiktok, they have the right people in place, but it's really difficult to do it if you don't hav

liz: you worked at alibaba. you had been there for a tint in your career. >> indeed.ow's their economy, and what is the explaining change like between businesses here and will? >> what's really important is exports, and that's what we make possible. so folks in china who are manufacturing products that americans are i buying, we just heard that great segment about the crowds in the malls. when someone's getting an iphone case for their kids or a t-shirt for their grandfather, she might find a product that was manufactured by someone where the funds are remetted right into a payoneer account. liz: and it works the other way around too. >> the funds flow all around the globe. liz: it's fascinating. i'm sure there will be a lot of financial transactions in the next 72 you are hours. >> it's 11 million transactions a month. $of 0 -- 60 billion, millions of customers. we're excited to share. liz as you grow, come back, and when somebody -- i'm kidding, i mean, i don't know who's going to buy you, but it feels like such a burgeoning business, so thank you. >> thank you so m

the revenue numbers it has become an increasingly large player, bigger than tencent, bigger than alibabaand slowly but surely becoming the main vehicle for e-commerce in china. shery: tiktok remains unchallenged in the u.s. amid security concerns. does that affect the bytedance's strategy to grow overseas? john: tiktok is a huge part of the company. it is the face of the company on a global stage outside of china. so the ability of the company to keep tiktok operating in the united states is extremely important. it would be even more important on that day that we do get a public listing of the entity. it would tremendously affect the overall value that bytedance would get for that listing. so in that sense -- and the influence that comes with having that app in the united states makes it very, very important. haidi: they have also tried to expand beyond social media apps. has there been much success, and we know any pathway to an ipo? john: they have tried. most recently the ended up closing down their gaming unit. that was a setback for the company. they are trying other things, ai for

ratings, not just for china sovereign but also for all the biggest companies in china like tencent, alibabather cut for the top insurance companies in china. all in all, i think investors still like, even though we are seeing, you know, some easing science from the u.s. data in terms of the rate path, but still, you know, when it comes to sentiment over china, people are still really concerned about the growth outlook. haidi: dare i ask what happens if it does breach that level and stay below it for some time? jeanny: i think, you know, people have been waiting for the central economic conference. i guess it is going to be due during the middle of this month, where investors can gauge, you know, what the government really wants to do for the economy next quarter, whether there's going to be more physical support, monetary support, you know, from the chinese government, you know, and also, we are going to see -- we have already seen some support to revive the sentiment in the capital markets so we are seeing whether those measures can be effective going forward so those are big questions tha

. >> it looks like you have a buy on nearly all the stocks that you cover, everything from alibaba tobay, meta, pinterest, shopify, except for maybe airbnb. is it just a rising tide lifts all boats when it comes to online ads? >> yeah, that's certainly part of it. the reality is we are seeing this year, and into 2024, really a resurgence of secular growth trends across digital media, online advertising, e-commerce. we certainly have a preference for the larger platforms, and you know, in a year where there are a lot of macro uncertainties, as you've just been discussing, we do have a preference for the higher quality companies, so those like meta, like amazon, like alphabet, but there is room for companies like shopify and pinterest that in themselves are merging as higher quality technology and consumer internet companies. >> where does a.i. factor into all of this, particularly around amazon? i ask you because one of your peers on the street today over at raymond james makes amazon their top pick. they're looking from laggard to leader in terms of a.i. it seems like so many other co

ex-con was also in focus after alibaba disclosed plans to cut its stake in the chinese ev maker.it for a bloomberg daybreak: asia. let's take a look at how we are positioned in -- at the moment. seeing weakness across all major markets. the nikkei the worst performance off by 1% as we stand on the eve of the final bank of japan meeting of the year. not expecting any change. in australia, the sx slipping back into negative territory. the kospi weaker. that is it from daybreak: asia. markets coverage does continue as we look ahead to the start of trade in hong kong, shanghai and tensions entered uber markets china open next. this is bloomberg. ♪ we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ so... i know you and george were struggling with the possibility whatof havin

they are taking on amazon and alibaba.er to get the goods, but it is a lower price point. are we seeing the break down into mastercard numbers as to where people are going online? simone: not in these specific mastercard numbers. we get some indication for what they are spending on apparel versus jewelry, seeing some declines. the retailers have been talking about the omni-channel. we want you to be able to go into a store, try something on, play around with it, go home, buy it online and we will have it ready for you at the store tomorrow or later this afternoon. that is a real genesis for them. it is not just online, it is online, or delivery, because we are on the way to christmas dinner and we want to pick it up. it is not just online spending, it was a breakdown in different ways that people can get stuff. paul: and the story in retail over the last 10 or 15 years was the death of the department store. we have talked to other folks in retail, and that has not happened. the footprint has shrunk but the store is still t

there was a, i think, alibaba, there was something positive about that in the last couple weeks.an't remember what it was. got us talking about those stocks again for the first time in a while. but i don't get the feeling that investors are ready to put two feet in that investment water any time soon. >> yeah. >> although first dreamliner arrives in china since 2019, and paving the way for perhaps some max deliveries to come. we know what boeing -- david and jim love to make -- not make fun but marvel at the boeing -- it's probably a one-year or six-month chart where it's like an everest cliff going straight up. >> it's like they're taking a flight, soaring into the sky. interestingly, we talked about m&a. i hear all the time from bankers who say that more than interest rates, it's actually geopolitics that are concerning c suites. there's just so much uncertainty out there about what exactly all these governments are going to do. a lot of bankers will point to just the sheer number of elections that are taking place worldwide, including right here in the u.s. >> is it not a reco

their outlook was downgraded by moody's last week, taking down the credit rating outlooks for alibabang on on the e.m. credit size. -- side. lisa: given how much money they could potentially lose and the discussion around argentina and this real question of what he can do with the hyperinflation, the dollar inflation, the cutting of all the bureaus of the government. is there a real sense of concern that this could leave a massive hole in the balance sheet of the imf? damian: it is already there, for all intents and purposes. milei was just inaugurated yesterday. he had the presence of a lot of -- chile, ecuador, uruguay -- there presidents were actually in attendance. he also announced the central bank chief, a proper selection to run the bcra. things are headed in the right direction, but more importantly, they will have to slash public funding and heart. the pain off the back of it will be a real issue. lisa: you raise an interesting question, the idea milei is getting the embrace of a lot of countries around the world that may pay into the imf, rather than, say, china. are you see