baba said it planned to be listed in hong kong as well now the time has come. i'm also grateful that they choose to calm just spite the difficulties despite the challenges that we are going through here in hong kong. ali baba called the listing a vote of confidence for the city hong kong has been rocked by sometimes violent pro-democracy protests for months the protests and the u.s. china trade war have sent the local economy into recession. let's bring in he's a senior market on is there one that joins us from london craig why is this thing so significant for ali baba well i think we have to remember that this is actually the venue that alibaba want to list all those years ago but you to regulate 3 concerns it had to consider and of course new york is not exactly about alternative option but in terms of why you would want to list now but remember this is an extremely profitable company but it does give it extra revenue to continue to invest in the firm and it also gives it access to a different pool of investors over an asia which is its home market so i think

and manufacturer so that's also 2 very different things and ali baba is making tremendous progress in the cloud computing front and that's pretty much where you see the big difference amazon's net margins the margins are probably only about 7 percent. margins are at 20 percent and that's what accounts for the huge difference a big big difference there time now for a quick break but don't go away because the privacy protocol middle wimble you should stick around just for that name should no longer be considered a viable alternative to casual narrow when it comes to privacy we're going to tell you what one research analyst found and what it means ultimately for privacy and they do it scrutiny continues over to the wildly popular app is now pivoting to other countries we've got that report straight ahead and as we go to break here are the numbers at the close. financial rung today we're going 1st to this is 3 different. we have our 3 of. them from your something in america something over the cayman islands well these banks are complicit in the just have to. do some. ok let's say you know

of true blockbuster for chinese e-commerce giant ali baba stock market in hong kong as a result success not only for the company itself but also for the besieged city. we're still in business. and big coincidence of a 6 month slowest. i know says it will take a tougher stance on crypto currency. business. good starting with a blockbuster i.p.o. shares in chinese e-commerce giant have surged in its hong kong trading day one of the most anticipated for things the company which is already traded in the u.s. raised more than 11000000000 dollars in its secondary listing on tuesday. shares of ali baba surged almost 8 percent in the 1st few minutes of trading the initial public offering of the online retail giant is the world's largest so far in 2019 the secondary listing in hong kong gives access to chinese mainland investors it also means that shares could be traded almost around the clock now between hong kong and new york was on genius saw the occasion of ali baba's 20.

china's ali baba, boeing and air b&b have news today. first off, boeing. sells of the 737 jet accelerating $6 billion in new orders at the dubai air show one company said it will buy 30 max air jets and boeing signing a separate deal of more than 20 maxes to an undisclosed customer >> a report ali baba will stop taking orders early due to strong investor demand saying the share sale is already well oversubscribed and air b&b -- air bnb preparing for the public market debut. the company cofounder was on mad money last night >> when we provided housing for the olympics in rio. 85,000 people stayed in air bnb home we have a project now through the olympic games where you can stay with a local when you go to the olympics >> getting to the markets and investments. futures are higher the nasdaq happens to be up 28%. a big part of that move has been big tech a key take away from goldman sach's latest hedge fund the funds committed to big tech. the top five stocks, you guessed it, microsoft, amazon, facebook, ali baba and google. they've been at the top of the vip

shares of ali baba surged almost 8 percent in the 1st few minutes of trading the initial public offering of the online retail giant is the world's largest so far in 2019 the secondary listing in hong kong gives access to chinese mainland investors it also means that shares could be traded almost around the clock now between hong kong and new york which on genius saw the occasion of ali baba's 20th anniversary we have our shared in an important milestone which is to come home come back to hong kong for the listing.

chinese e-commerce giant ali baba set new records on singles day the world's largest 24 hour shopping event bringing in over $31000000000.00 in gross sales this was the 11th edition of the annual singles day event which traditionally exceeds the spending by consumers during any single u.s. shopping holiday such as black friday or cyber monday this year ali baba placed a heavy emphasis on live streaming to help sell goods online personalities and celebrities such as kim card ashton jet and tell us what made appearances to boost sales and up the hype factor as it faced competition from other domestic rivals like j.d. dot com and payne blog all all offering their own sales singles day is being held up as a bellwether of the chinese consumers willingness to spend in the face of a domestic slowdown amid the ongoing trade war there was some concern that american brands would suffer but that was evidently. the case american brands came in 2nd by g.m.t. in terms of countries selling to china and there was no evidence that sentiment was on decline given this is the biggest haul in the history

. >> hong kong listed sharesever ing -- of ali baba raise more than 3% as you see there.t puts the stock price around 9 9.6% above its initial listing price. back to the markets and the recent rally joining me now is dan david founder of wolfpack research and dan, i got to say as we talk ali baba, the whole u.s./china trade scenario, one thing that we are paying close attention to is whether or not the ali baba trade is indicative of what chinese firms may be doing in the future just listing in hong kong fair to say this is a hedging type scenario? >> well, i think it is indicative of what other firms will do, though to be fair, ali baba probably planned to do this for a very long time this is where ali baba wanted to list in the first place. they couldn't do that because of the hong kong exchange wouldn't accept a dual class structure. they have since capitulated and now they do. it makes sense for ali baba to be on the hong kong exchange can where mainland china investors who use their platform can buy their stock. so they have the best of both worlds they had the highe

chinese e-commerce giant ali baba set new records on singles day the world's largest 24 hour shopping event bringing in over $31000000000.00 in gross sales this was the 11th edition of the annual singles day event which traditionally exceeds the spending by consumers during any single u.s. shopping holiday such as black friday or cyber monday this year ali baba placed a heavy emphasis on live streaming to help sell goods online personalities and celebrities such as kim carr in the gem and tell us what made appearances to boost sales and up the hype factor as it faced competition from other domestic rivals like j.d. dot com and all offering their own sales singles day is being held up as a bellwether of the chinese consumers willingness to spend in the face of a domestic slowdown amid the ongoing trade war there was some concern that american brands would suffer but that was evidently not the case american brands came in 2nd by g.m.t. in terms of countries selling to china and there was no evidence that sentiment was on decline given this is the biggest haul in the history of singles d

the listing of ali baba that didn't happen. the listing of ali ba ba and that didn't happen. hong kong stock exchange was very smooth, certainly, perhaps more low—profile or low—key than what we would have expected. but the current chairman was there and he talked about how this is a vote of confidence in hong kong and it was about bringing ali baba back home to hong kong, remember, in 2014, when ali babbitt listed in the united states, actually, it initially wanted to list on the hong kong exchange but because of certain technical regulations at the time, to do with share ownership of the company, the firm chose the united states instead. now, notwithstanding the fact there are political protests and this political crisis in hong kong, the company share price did very well on its first day of trading. it's close the day in the last 15 minutes or so, half an hour, i should say, the hong kong stock exchange has closed and we've seen about a six and percent surge in the price of ali babbitt shares. the company says the reason it shows hong kong was to access the appetite from m

a ali baba doesn't need the cash but perhaps this is the right time to do it. it has come off the back of a record single's day shopping event. the cloud is firing on all sill anders back to you. >> thank you for bringing us the latest an ipo we'll be watching closely. huge ramifications on the tech space. >> a probe into google's business is being expanded to search and android 50 state attorneys general the texas attorney general is leading that investigation backed the idea at a recent meeting with several of his counterparts a spokesman made a statement that read in part, at this point, the multistate investigation is focused sowlely on on line activity. and here to fill us in on some details. how does the defendant of defense respond to this filing >> interesting we know that microsoft was awarded this jedi microsoft cloud. this morning, in the statement we got, they accused the department of defense of bias. that alludes that president trump has alluded to being against amazon because of jeff bezos. he wasn't actually involved in the decision this is real

is baba still the best game in down from investor standpoint or are other names worth a look as well >> it is still the 800 pound gorilla in the room, there's competition. 70% of new accounts for alibaba came from smaller cities, that's clearly a focus for growth moving forward then you'll see them continue to expand outside china as well in southeast asia, investing massively to logistics they launched, unveiled a cloud operating system to help with all of the single day orders as well they're a be hooemeth on so many levels it is the company to beat. if you strip away the trade war and recent political unrest in hong kong, shares of alibaba are well north of 200. but until then, it kind of probably lingers in a tight range, 175 to 190, then hopefully the clouds clear and get liftoff on the stock. >> zachary, you're around 240 on the target thinking back to the ipo day, few times we had jack ma onset, we talked about the degree they would invest here, take business from domestic companies. how much of that changed given how different u.s./china relations are today from then? >> grea

was on kenya so the occasion of ali baba's 20th anniversary we have argued in an important milestone which is to come home come back to hong kong for the listing.

meanwhile ali baba's latest global bit of funds seems to have gone what.i didn't know jules went on world tours but these next ones did prior to this week's auction at sotheby's in geneva. james striking colombian pieces with a 970 s. and one bracelet in particular which is stealing the show. sapphire flanked by diamonds available to anyone with a spare $2.00 to $3000000.00 in their pockets the bracelets is the crown jewel if you will of a collection of art deco gems that will go under the hammer at the bees auction in geneva this these 2927 and we have in the seated nada splendid do what they are. created the exactly at the same time $927.00. can be different in style and design also vying for attention is this emerald and diamond necklace which was once owned by princess sally ma. so the bees representatives did not hold back in expounding the virtues of its origins. the finest rules in the world come from colombia. and particularly from the area the size of the blues of mine. and these are all these rules are typical of that there are production this ri

ellison go there thank you very much ali baba and the a philippine government have announced plans to establish one of ali baba's electronic world trade platforms in ethiopia the platform is designed to bring the benefits of globalization to small and medium sized companies facilitating cross border trade and just takes services this is the 2nd electronic world trade platform in africa and it becomes part of a public private network now active and reserve europe and africa. friends luxury goods giant a f.e.m.a. has clinched the takeover of u.s. jeweler tiffany takeover is a win for both companies many analysts say tiffany has been trailing rivals in sales growth in recent years and the mh hopes the deal will boost its presence in the u.s. the mh is owned by francis richest man. its fashion division includes prestigious brad scythe with tall christiane the awe and consult its watches and jewelry section comprises bulgaria and todd high out of a have ages also represented in wines and spirits buying wish on the all that's also active in the hotel business the $16200000000.00 deal will b

chinese e-commerce try ali baba is preparing to launch a hong kong share its offering to raise as much as $15000000000.00 later this month now 2 sources familiar with the matter told reuters the company plans to seek approval from hong kong's listing committee just next week next thursday that is according to deal logic data if the transaction is approved this would be the world's largest cross border secondary listing the chinese. e-commerce giant currently holds the record for the biggest initial public offering for its $25000000000.00 flow in new york this is back in 2014 ali baba which started singles day in 2009 sold $30800000000.00 worth of goods on that day of november 11th now let's compare that that's 3 times as large as cyber monday is deal that analysts are paying that will be approximately 10000000000 dollars and last week ali baba posted stronger than expected 2nd quarter sales those rose 40 percent from last year to just over $16650000000.00 had been working on an august listing in hong kong but those plans were actually put on hold amid the anti-government protests that

ali baba will close its order books early as a secondary listing in hong kong have been multiple times oversubscribed the e-commerce giant will be issuing $500000000.00 new shares plus a $75000000.00 green shoe option in a $13000000000.00 sale so why is it pushing through with a secondary listing now basic level this fresh capital injection is dry powder to sustain growth and drive user engagement at a time when both the chinese and the u.s. economies are slowing down on another level heightened tensions between beijing and washington have increased concerns that ray dollars prediction of an imminent capital war could be on the horizon earlier this year there were rumors about a delisting of chinese stocks at u.s. exchanges and ali baba shares have also remained undervalued and discounted to amazon the local favorite on the us market despite having comparable bottom lines amazon's $2800.00 net income reported 10 point $1000000000.00 versus ali baba's $9200000000.00 just a difference of $1000000000.00 however amazon's capitalization is almost double that of $880000000000.00 versus $4900

okay also i own amazon, i own baba. i own united airlines. that's consumer. i own visa i think pure retail names, if you're not thinking right now, they have to black friday, you're going to hear about how sales were disappointi ining alh weather issues, then think again. so if i did own other stocks, i'd probably sell some upside calls because that's what the dialogue's going to be flight's being canceled every wr where. just don't go to black friday sales. >> two names, buckle, which is now back around 1.3 billion. >> that's a pete najarian name >> a name that the last couple of years has suffered. it's getting a bounce. that's more for a trading opportunity but for an investment and i definitely miss ed this one, burlington stores >> yeah. >> has just done fantastic trading at 2.25. that's been a theme that's defieing the overall brick and mortar environment >> let's get to see with the latest headlines hey, sue >> we begin with the impeachment inquiry into president trump the justice department has asked a federal appeals court to block former white house

ali baba and its rival reported $60 billion in sales only partway through the opinions.we have upgraded the live stream functions so this is just fun. >> robots worked around the clock as orders came in and a group created singles day in the 90s and ali baba adopted it a decade ago as a working tool and obviously it is working if you have consumer problem or question, email us at consumerwatch@kpix.com or call the hotline 888-5-helps-u. we will be right back. of any american senior, or worse, that it was some way to take your home. it's just a loan designed for older homeowners, and, it's helped over a million americans. a reverse mortgage loan isn't some kind of trick to take your home. it's a loan, like any other. big difference is how you pay it back. find out how reverse mortgages really work with aag's free, no-obligation reverse mortgage guide. eliminate monthly mortgage payments, pay bills, medical costs, and more. call now and get your free info kit. other mortgages are paid each month, but with a reverse mortgage, you can pay whatever you can, when it works for

ali baba rival is amazon, something else going on there.rand, not whole foods, not a cashless store, something else again, the market likes it, amazon is up $1784. here is boeing, taking a slight hit today, they reported net negative orders for 2019 obviously the 737 max weight on that number, the stock is now down 1%, 362 on boeing. i have a tale of two stories. in washington, the focus is impeachment, public hearing start tomorrow. here in new york, the financial capital, the president is focused on the economy and how it can help them in 2020. he is laying the ground work, as washington versus new york, politics versus the economy. we are all over it. this is the third hour of ernie and we are rolling along. ♪ stuart: southwest may be forced to ground 38 jet, what happened? >> they passed inspection and it may be 49 it may not have been properly inspected so the faa is saying were going to come around and the quality of inspections may have been poor. within the past two years, two crashes on this particular model, the boeing max 737 kil

ali baba's debut in hong kong on tuesday is pricing out $22.50 a share in the world's largest listing so far this year to a very receptive crowd 5 years ago ali baba raised 20 $5000000000.00 in new york city and now this listing raised another $11300000000.00 in asia making it easier for investors in china and elsewhere in asia to trade books were oversubscribed on both the institutional and retail tranches with shares surging 6 percent on the open and in the day trading at 6.6 percent above assisting. it was a risky move to list in hong kong at a time when a lot of people have lost confidence in hong kong as a market amid the unrest and riots the listing was originally planned to raise as much as $20000000000.00 when i 1st filed for the listing in june my plan stalled and were scaled back as a result of the political crisis but with the success of the launch tuesday this listing symbolizes a vote of confidence by beijing in hong kong's future as a financial center in spite of the recent hostile climate ali baba is china's most valuable company and this listing follows a record breaki

exchanges and ali baba shares have also remained undervalued and discounted to amazon the local favorite on the us market despite having comparable bottom lines amazon's $2800.00 net income reported $10100000000.00 versus ali baba's $9200000000.00 just a difference of $1000000000.00 however amazon's capitalization is almost double that of $880000000000.00 versus $490000000000.00 its decision to push ahead with hong kong listing despite the increasingly violent riots have surprised bankers that appetite remains healthy the i.p.o. has also attracted significant interest from asian sovereign wealth funds and institutional and that helps to send the message that hong kong is still functioning as an asian financial center the offering could potentially put hong kong back on track to retain its listing crown for another year beating out new york who year to date raised $32500000000.00. if you think wins that i mean obviously is much larger but it was not it seems like branding was has just been more successful well that goes to show that they have 2 very different markets amazon's primary mark

was on did klein given this is the biggest haul in the history of singles day ali baba looks to be well positioned to weather out the trade war versus its peers with ali baba busy preparing to issue another $15000000000.00 in landmark share sales later on this month in hong kong a new single day record could help boost demand for shares as well as to lift the asian financial hub as it struggles from the continued riots. meanwhile shares everywhere else around the world fell a monday as hoped for a breakthrough in the trade war between china and the u.s. diminished after president trump and washington had agreed not to gradually roll back tariffs early optimism that pushed the s.n.p. to all time high had gone too far and the market should have known better after all this is the umpteenth time that we've experienced this one step forward 2 steps back rhetoric where promises of a breakthrough fell short and talk collapse at the 11th hour looking further ahead this week we can expect to see more fallout amid trade balance manufacturing and industrial production as the global trade weekends

leader ali baba is also planning the secondary h.k. listing hong kong listing they could raise 13800000000 said to trade november 26th why do you think they're looking at the secondary listing now. well you know there's an old saying on wall street that you feed the ducks when they're quacking and i think that's what they're doing right now i mean you have some markets making record highs you have some spectral demand for the right issues not always shoes are there a lot of speculative stocks that are blowing up right now but wall street investors are still buying the ones that have momentum and i think is taking a look at that and they think they could get a good price so they might as well sell something i bought i had such good momentum behind the stock why is this market valuation half that of amman.

so far by taking stakes in tech firms that many around the world will know now, companies like ali baba, companies like ali ba ba which world will know now, companies like ali baba which at the time were little known companies, but those bets paid off. recently his decision—making hasn't been so strong. there has been a string of humiliating losses in more high profile investments in companies like wework and uber and those have raised questions over his strategy. he invested in the companies through the saudi—backed vision fund. it had $100 billion to invest in what were considered riskier, but hopefully higher return companies. now, people are questioning since the investments didn't go so well, what happens to his plans for a second can have vision fund. industry watchers are wondering whether to back him this time. thank you. that was a market moving story. markets flat in asia and wall street, because monday and tuesday they had such strong performances. investors are now looking for fresh reasons to be optimistic about the trade negotiations between the us and china. so how is eur

biggest initial public offering for its $25000000000.00 flow in new york this is back in 2014 ali baba which started singles day in 2009 sold $30800000000.00 worth of goods on that day of november 11th now let's compare that that's 3 times as large as cyber monday is deal that analysts are paying that will be approximately $10000000000.00 and last week ali baba posted stronger than expected 2nd quarter sales those rose 40 percent from last year to just over $16650000000.00 had been working on an august listing in hong kong but those plans were actually put on hold amid the anti-government protests that created this financial uncertainty in the region. german industrial titan thiessen corruptness take bids from buyers to purchase its lucrative elevator business in a deal worth upwards of $20000000000.00 group's made up of private equity firms as well as some of the company's competitors are looking to get in the bidding process these increases elevator business offers a constant stream of revenue from the servicing and maintenance of the equipment a group of activists investors are push

that is another challenge for the baba steel management.o take a look at the clip in e-commercesee and online retail. we have got china retail sales, the headline number at 8% loop. in the blue line at 20% is china retail sales, online and physical goods. two or three times the pace of retail activity. the problem for alibaba, they want to be more than just an e-commerce company. they want to be in computing and logistics and off-line retail. does relying on a marquee event kind of gos' day against that strategy moving beyond just e-commerce post jack ma? >> i think so. one of the most important things actuallytoday is that china off-line is suffering more pressure while online retail creating share from offline markets. you look at alibaba, they have new retail which is a combination of online and off-line. we see that the offline partners and others, the new retail stores are also promoting significantly double 11. is trying to do more cooperation with the brand. they are asking those brands to have some new products to be sold on double

but on top of that how about baba i like what we're seeing 35,000 upside calls bought baba very short term. >> you have unusual in the eem and efxi >> massive too not just little trades these are 250,000 trade. huge, huge massive trades. >> okay. we're getting a little more offensive. >> yeah. >> steve >> on baba, it was good. started buying it last week. when the offering comes maybe this monetary hong kong will drive the stock higher ross was quoted as saying they could soon started selling to huawei >> are you over your limit >> pretty big position apple still my biggest position. >> nice. >> jenny >> company diversified this company reported earnings last week. well managed company the management is consistently excellent at allocation. they always put shareholders first. >> i like chevron. you saw the move in exxon as well this is a high quality company >> jpmorgan in my opinion continues to be the most important stock in the s&p 500 >> you said that before on "squawk" the other day >> the yield curve continues to steepen. federal reserve is telling you not so much that they are

and a bevy of other market related news is todd baba horowitz chief strategist at bubba trading but it is a pleasure to have you. great to be here what's up there avco i.p.o. as we said has been on again off again at the center of this is the giant 2 trillion dollar evaluation is this going to have to come down before the public offering and is this going to be a successful listing for the company at all. you know it's really hard to say brian because you look at the overall package you were ever in to get really true data from them you know it's not like that they fall into the same laws as you fall on here in the united states so you can actually get real live reporting i mean certainly they've got a great product they've got a profitable product and as long as there is going to be oil used it will be successful but again the real question is can we get legitimate data from them and will be actually what we can use and i think what they're really doing now is looking for where they can really price it so they're kind of going through their own price discovery to debate how much they'

company but will it fare better than the string of other hype the listing launches horror with the baba trading joins the show today to drill into the details they hit on several other movers so so much to hit on and so little time can we get to it all there's only one way to find out let's dive right in. the united states and china are moving closer to a trade agreement this after a call between the top countries top negotiators global markets to record highs this giving hope to donald trump and she jumping will find a phase one deal later this month chinese advice from nearly you ha and u.s. trade representative robert like hisor and treasury secretary steven menuchin reach consensus on principles according to reuters the commerce ministry of china said the 2 sides conducted serious and constructive discussions on properly addressing their core concerns while the u.s. trade representative said the 2 sides made progress in a variety of areas and are in the process of resolving outstanding issue this comes as president donald trump was expected to meet with his chinese counterpart xi ji

china's e-commerce giant ali baba is set to raise almost $13000000000.00 in a secondary listing this time on the hong kong stock exchange it's any surprise says it's just over $22.00 that's a discount of 2.8 percent compared to the prize on the new york stock exchange alibaba is calling the i.p.o. quote vote of confidence in hong kong's markets it was planned for the summit but was postponed due to the unrest in the territory. now many businesses around the world would like to see the u.s. china trade war resolved rather today then tomorrow but that of those that feel that it can benefit from the world's 2 top economies being at loggerheads take the indian german jewelry industry with the u.s. deciding to impose a 10 percent import duty on the products of chinese journalists the colleagues in india were hoping to get a portion of the $2000000000.00 chinese export pie that didn't pan out so far but some companies are making the best of the trade. this is painstaking meticulous work turning rough crystals into polished gem stones more than 150 gem cutter's in this workshop in giant poo

next year to expects twice as many lego's also establish its presence on digital platforms like ali baba 10 cent and j.d. dot com. in an interview with state t.v. lego c.e.o. neil's christianson soft petals on the remarks critical of china we welcome fair competition will be what we don't like is if somebody kind of misuses brand names or ip rights to mislead consumers so what we've seen also since last year and it is really that the soldiers have have gone in and have a back to the helps protecting those rights many companies remain frustration she presented himself as an advocate of free trade at the opening of the import fair in shanghai but other firms are critical of growing government influence preferential treatment for chinese state enterprises and theft of intellectual property. no one wants to miss out on the giant chinese market europeans hope that the e.u. china investment treaty will bring about positive change negotiations have been going on since 2013 and could be finished next year. nice doing business with it. the world's culture mobile. goes insatiable. their rivalry de