i'm carl quintanilla with deirdre bosa and jon ft.st coming up who claims the metaverse is, quote, obvious b.s. we're not talking about jon. first the update with rahel solomon. hi >> hi, carl. sales fell 4.6% record home sales inflation on the rise, median price rose 16% last year to $358,000. jobless claims also jumping with 286,000 in the latest week be economists say, however that the recent surge is temporary and driven by the latest wave of covid cases. american airlines lost less money than expected last quarter but omicron has slowed its recovery and cost pressures. american's stock pell 3.5% this morning is now up slightly on the day. and shares of baker hughes jumped more than 5%. despite the earnings miss. higher oil prices and driving drilli ing demand and service and this year, tight supplies of oil and natural gas. carl, back to you. >> rahel, thanks >>> got key antitrust legislation on the hill today with the support of a new coalition of smaller tech companies that are hoping to break up the giants. our ylan mui has th

i'm carl quintanilla, jon fortt, deirdre bosa and julia boorstin.h selling remains unabated today julia has a timeline of buffett's activity in apple coming up. but first a news update with rahel solomon. >> good morning. and here is what's happening at this hour. a record 4.5 million americans quit their jobs in november. another sign of worker confidence and tightness in the labor market job openings fell to 10.6 million but that's still high by historical standards. >>> u.s. manufacturing activity slowed in december and was weaker than forecast the ism manufacturing index dropped to its lowest level since late january, but there are indications that supply constraints are easing >>> input costs for factories posted biggest monthly drop since early 2020. >>> oil prices are rising this morning. brent crude above $80 a barrel opec and allies agrees to remain steady output. >>> toyota was the best selling auto brand in the u.s. last year beat out general motors for the top spot that's a distinction that gm has held for 90-consecutive years, carl appa

welcome to "techcheck" i'm carl quintanilla with jon fortt and deirdre bosa today, tech's big tumblea hawkish fed the biggest risk to your portfolio this year do not a break down with dan niles. then fintech's fumble. why today's selloff might not be a bad thing when it comes to risk. >>> finally, crypto crumbling as bitcoin nears 40k. what's driving the action there. if you ask some, nothing we will discuss that >>> first up for today's feed, we'll start with the selloff the nasdaq is coming off the worst day since february after the hawkish notes from the fed sent yields higher and growth names plunging is more volatility ahead as we said, here to discuss, dan niles is with us dan, we know you've been waiting for an environment like this i imagine this is exactly what you had thought was coming and i'm going to guess that you think it's not done by any means. >> well, unless you think inflation is done, and unless you think the fed is done, it's hard to imagine that this is done because you've had -- if you look at the dividends included, the s&p is up 100% over three years it's up

welcome to "techcheck" i'm carl quintanilla with jon fortt and deirdre bosa today the nasdaq quicklying lower here, down 1%. taiwan semi, managing to hold on, lifting the entire chip sector back to new heights at the open can you continue to bet on the winners or is it time to dip in chips? >>> snap crackles. shares get another downgrade why the ios changes may be to blame. >>> later, the ceo of chegg. why one firm thinks this name could garage late to record levels in 2022, dee. >> we'll start with the chips, carl taiwan semi, shares, getting a nice pop this morning after the iphone supplier reported a record profit in q4 and provided up the guidance. the move good enough for new all-time high. shares up more than 6% and this comes as the chip sector continues to outperform software the sharp divergence that started in late october. check out this chart semis were one of the strongest trades of 2021 you see that divergence take place around november. we're seeing a boost to other names in the sector as well. very interesting setup heading into earning season. semis continue to outpe

welcome to "techcheck" i'm carl quintanilla with jon fortt and deirdre bosa today, tech investors, theasdaq is down 2.5%. tech's rocky start continues touching a three-month low going back to october. we'll break down the action in just a moment. >>> one trade that is working, l longzynga. >>> finally, with so many names getting swept up in the selloff, is now the time to buy some megacaps at a discount we'll talk tactics with dan niles, jon. >> yeah, before we get to all of that, the nasdaq selling off now down 8% since the end of '21 let's get to mike santoli with a look at tech. >> jon, the selling has turned indiscriminate it's a purge than an orderly rotation the nasdaq composite actually touching its 200-day average on the downside for the first time since the covid crisis extraordinarily long time above that here are dynamics that really show the violence of this kind of what was a rotation and now just a general stepback with some of the largest stocks not immune it might be a good sign. here you have nasdaq 100 against s&p banks. it just couldn't be more dramatic, right? verti

i'm carl quintanilla with deirdre bosa and jon fortt massive m & a news this morning.rosoft buys blizzard for $68.7 billion and all cash deal expected to close in 2023. activision a company mired in sexual harassment allegations just this morning terminated 37 more employees as part of an internal probe they'll stay on as ceo for the time being the head of microsoft gaming phil spencer joined "squawk on the street" earlier this morning on what led to the deal. >> microsoft has this great, long history, like we do, that goes back to the 1980s in video gaming they have the incredible resources and incredible pipeline of talent, culture that is aligned like ours for focus on creating a really great work experience, and so while there are a lot of other companies that would be interested in a company like ours, microsoft was clearly the company that made the most sense >> that $95 a share price, 45% premium to friday's close. deal comes just a week, of course, as you know, after take twos $11 billion zynga acquisition. jon, lots of implications for the metaverse, for gamin

here to help break it all down, our own deirdre bosa joined by seymore asset manager tim see more and, one and all let's start with gamestop today. new games, nft and crypto, cnbc confirming with a source familiar with the project gamestop is planning to establish new crypto partners, too. the shares were up 20% when the market open, but up less than 4% now. they're still down 70% from the 5-week high. deirdre, what is the opportunity here when there are lots of others doing nft platforms and the like >> and also when this was already announced but, you know, it is this kind of in the meme era say things like nft and crypto and your stock will get a pop. what is interesting, kelly, i looked at wall street's wrightup forum and the top post, it is not excitement over nfts and the business expansion the top post was a meme of a video that starts with the title "483 bag holder. what does 483 mean the top for gme shares they're down now at 136 and change so it is not having the same pull that it used to yes, nfts is exciting for this company. they're well-positioned to do this and be a lea

welcome to "techcheck" i'm carl quintanilla with jon fortt and deirdre bosa today, stocks rally to closeut the month of january the nasdaq higher by nearly 2%, trying to avoid the worst january ever coming as we await quarterly results from alphabet, amazon, metta, snap amd and others this week then more artists join neil young in calling for a boycott of spotify the stock gets an upgrade today and other subscription based companies. >>> plus, one wall street firm deciding to buy now. the analyst calling the bottom on a firm is with us this hour we'll start with the market, tech is surging at the end of what has been a tough month and we are set to get a whole roster of catalysts this week out of earnings >> carl, market giving back a little bit of what's been taken from some of the hardest-hit areas that does kind of nasdaq 100-type stocks qualify, but also the hypergrowth pandemic stories. a two-year chart is kind of fun right now. takes you right to the precipes of the covid crash here is some of those names, snap, docusign, paypal up almost exactly similar amount over that span of ti

here to break down the headlines are cnbc's bob pisani and deirdre bosa and ron saposa, new street advisersdoordash down around 8% despite being named a top pick for 2022 by truist. truist says the delivery service is outperforming rivals and heads into the new year as the category leader with positive momentum not stock momentum it is down 30% in the past three months deirdre, tell me everything. >> let me start by saying you can't just look at the stock performance over the last few months it is a company that went public on a much higher valuation than, say, uber and grubhub and some of the others in the space and been able to sustain the valuation. so, yes, it is coming down, but it started from a much more expensive points that's because investors, they seem to believe in tony shoo, that you can pull off a lot of what others in the shared economy space haven't been able to he quickly, quickly grew market share and also -- i love this point, kelly, you know me -- they're profitable, not just on an adjusted ebitda basis but they've been able to do this much more profitably than his compe

deirdre bosa >>> let's turn to the virus. president biden meeting with his covid response team in the last hour as cases skyrocket across america. meg tirrell has the latest meg? >> so we have that million case number that was reported within 24 hours in the u.s. that's a pretty eye-popping number it does include a lot of backlogs from the holidays nonetheless, we're reporting more than 480,000 average daily cases. we know that's an undercount given a lot of tests are not reported to public health agencies and we're not doing enough testing hospitalizations are rising in a fairly fast clip you can see that on the curve. there are models that suggest hospitalizations could get as high as we saw last winter because of the sheer number of people getting sick with omicron. there is good news in that it seems like overall a less severe variant. deaths have not started to tick up that we've seen in the united states just anecdotally from er doctors, ers are overwhelmed but folks vaccinated are well-protected cdc updating its preval

i'm here with jon fortt and deirdre bosa chips get hit today, before talking to intel's ceo pat gelsinger. the dow is rallies after barely recouping yesterday's losses and finally netflix and bill, bill ackman announcing the holding of the company just what exactly could he push for. we will discuss, dee all of them move across the industry, and tells margins down last quarter as a company we ended up across a slew of new products the ceo noeled that the supply constraints continue to have an impact supply chain also a theme hurting lam research due to, quote, worsened supply chain conditions that stock, guys, is down 5% we're in a chip shortage environment. we can't lose sight of that fact some semis are able to hike prices does intel's results suggest that -- >> it's definitely difficult to hike prices when you don't have products leadership. that hasn't been established, pat gelsinger would say, yet there's all spending that comes with new products. they have that coming -- going on as well we're talking about chips, we should mention amd getting the xilinx approval in china they have

mike santoli is covering all of the action deirdre bosa focusing on the pain in tech mike, start it off if you will with the broader markets and just a remarkable turnaround once again >> yeah, wilf. we'll zoom in to the action today and yesterday in just a second, but what's fascinating is if you look at a one-year chart of the s&p 500, it looks like almost literally nothing going on the last two days because we have closed and now we're trading around the flat line but in reality, it's the market churning around, minus 9% to 10% range. yesterday's low, by the way, was around right there, the may high, so we're still well above it at this point i think that was job one for today, was stay above yesterday's low. as a matter of fact, it really followed the script as you would expect to see it or hope to see it play out if you're bullish. take a look at a five-day chart of the s&p 500 it does catch all that drama this is yesterday's low, and i mean, if you wanted to sketch it out, you would say, wow, it would be good if we held around 4300 tuesday after an opening drop because it would sh

the market has been reacting to over the last hour mike santoli's tracking the broader action deirdre bosaas a look also >> minutes to the federal reserve's december meeting suggesting the central bank could be very aggressive, highing growing concern with inflation at the bank. it's not actually scheduled to stop buying assets, that is increasing the balance sheet until next month after that the first quarter point rate hike could come as soon as march, and markets are pricing in as many as three this year watch the x-axis here. it suggests the possibility of a faster rate hike than the minutes. a second hike in june, a third in november, and not putting, i guess, possibly a fourth hike in december there are some hints in the minutes on when the fed might reduce the balance sheet and how it might do it some officials even said they want to rely more on balance sheet reduction than rate hikes to remove a combination. that suggests a potentially faster pace than shedding assets by the fed there was agreement it will happen faster than in 2015 when the fed hiked rates and waited two years to

. >>> resetting near the bottom of the hour deirdre bosa with john fortt and julia boorstin how to play that beat-up tech trade in a moment but first time for a news update. rahel solomon has that update. >> here's what's happening at this hour. financials playing heavily on stocks following disappointing quarterly results from some of the banks this morning jpmorgan the biggest loser in the s&p 500. faces a couple years below target returns and quarterly results did top estimates. citi down on higher expenses and weakness at its consumer banking unit and wells fargo with a 4% gain top and bottom results >>> blackrock down more than 2% and assets under management topped $10 trillion cementing its spot as the largest money manager. rising inflation concerns have pushed consumer sentiment back down the early january number is the second lowest in a decade. december retail sales were also down far more than expected. they fell nearly 2% as americans really struggled with shortages and higher prices. and manufacturing output also posted a surprise decline in september. the drop in auto plan

approaching the bottom of the hour i'm john fortt with deirdre bosa and julia boorstin intel ceo pat gelsinger at the lectern right now. we expect to hear from president biden before too long. but before that, a news update rahel solomon has that for us. >> i sure do treasury yields are pulling back sharply from recent highs. the ten-year is down 8 basis points to 1.3% and the two-year note has slipped back below 1% >>> the big gathering of political and business leaders in switzerland will be held in may. it has been postponed due to rising omicron cases >>> housing costs were higher in january. the biggest increase in more than two years austin, texas, saw the biggest increase with rent up 40% since last december. the average monthly mortgage payment rose 22% in the past year >>> banner year for partners at goldman sachs and other firms. compensation pool rose 40% to 50% this year. partners in tech and healthcare are reportedly making between 12 and $15 million. go to cnbc for more on the surge in pay and bonuses julia, i'll send it back to you. >> thank you, rahel. >>> let's turn

welcome to s"techcheck" i'm carl quintanilla with jon fortt and deirdre bosa tesla kicking off 2022 withang why that stock is up more than 9% on the first trading day of the year finally, verizon and at&t say no to regulators. is a 5g roll outcoming your way soon >> our feed starts with chip sock, goldman sachs includes marvel tech and micron among its top stock picks for 2022 the sector is already coming off a big year, easily outperforming the s&p thanks to huge demand contributing during a continued global shortage. one analyst this morning says that there is more to come, jon, predicting chip sales will grow more than 10% this year. yes, it outperformed the past year 2021, but it's actually the third consecutive year, jon, that chips have outperformed. >> carl, dee, first, happy new year great to be back with you. i think this is a time where we've got to really emphasize the difference between stock performance and financial performance of a company because i think there's this tendency to always assume, oh, what happened yesterday is baseline. so if a company does well the stock ou

i'm carl quintanilla with jon fortt and deirdre bosa the nasdaq is down another full 2% today and leading the declines, ark funds, tesla, netflix down another 7 the crypto crash, bitcoin and ether down by double digits over the past year after friday saw $137 billion wiped out from crypto markets bitcoin below 34k. social stocks losing some clout. the bears come after snap ahead of earnings, dee. >> we'll start with that sell-off tech sinking yet yet the nasdaq was down 3.3% and it's now down more than 16% below it's record close. ongoing debate here, how much of the sell-off has been rate focused, how much is business fundamentals late last year we got bad misses from the likes of snap, roku, pinterest, adobe, salesforce it had nothing to do with the fed or a shift to value stocks last week, though, it was netflix and peloton both sinking on soft demand and weak user growth this week we will see who gets punished, if they miss or just don't beat by enough perhaps some upside surprises too. we've got ibm earnings today, microsoft tomorrow, tesla, intel wednesday, apple thursday. jon, it i

welcome to "tech check" i'm carl quintanilla with deirdre bosa and jon fortt.ight be right for consolization. amd gets the downgrade, we'll

welcome to "techcheck" i'm carl quintanilla with jon fortt and deirdre bosa today, tech investors, theching a three-month low going back to october. we'll break down the action in just a moment. >>> one trade that i

break down the numbers with the ceo irwin simon coming up first, mike, tracking the market action deirdre bosa with the nasdaq movers berhe that coombs with the highlights of the interview with jamie dimon. mike, broader market lower except for health care. >> yes health care. a big jpmorgan health care conference going on. s&p 500 bent and didn't break. at the lows this morning about 4.9% off the record high that seemed to create a little bit of a dip buying instinct the other level to watch here generally speaking this low 4500 area also the early december low in the s&p 500 right around 4500. one thing traders look back on is if the low of december is broken that could mean a more bearish tape for the year. pressure has been in place on boert stocks and bonds take a look at what that's meant for a typical portfolio. that's what this etf essentially mimics it is not that it's down so much but that bonds and stocks create a little bit of downside this is the mode stocks and bonds moving together when inflation is picture so perceived the threat this brings us back to early to mid-2021 levels.

welcome to s"techcheck" i'm carl quintanilla with jon fortt and deirdre bosa tesla kicking off 2022 withmore than 9% on the first trading day of the year

> welcome back chip stocks with a strong year in 2021 but the first week of 2022 isn't as kind deirdre bosaith a look at what's driving the move. what happened? >> like much of the sell-off in tech it is driven by valuation nvidia saw the market cap more than double last year close to the $1 trillion market cap and amd surged nearly 50% over the last year seeing the stocks come down hard this year. investors looking for value in 2022 looking for the less pricey plays like intel and even though lower today it is better performing than the other names mentioned. it doesn't necessarily speak to the longer term trajectories the jury is out if there's execution on the ambitious plans to turn around intel qualcomm has diversified from the reliance on apple and smartphones. deepening engagement with amazon so the question is this a value thing and revert many analysts say this is about picking the right players in the space but xoxx is lower by 3.5% this year reacting to rising treasury yields. back to you. >> d, thank you so much for that off the lows for the smh but in the red. thank you. >>> we

now ♪ >>> good tuesday morning welcome to "techcheck" isle carl quintanilla with jon fortt and deirdre bosas guilty. the reporter who broke the story wide open will join us this hour >>> then, what sho

welcome to "techcheck" i'm carl quintanilla with jon fortt and deirdre bosa today the nasdaq quickly 1%. taiwan semi, managing to hold on, lifting the entire chip sector back to new heights at the open can you continue to bet on the winners or is it

i'm carl quintanilla with deirdre bosa and jon fortt massive m & a news this morning.to close in 2023. activision a company mired in sexual harassment allegations just this morning terminated 37

i'm here with jon fortt and deirdre bosa chips get hit today, before talking to intel's ceo pat gelsinger

welcome to "techcheck" i'm carl quintanilla with jon fortt and deirdre bosa today, tech's big tumble to your portfolio this year do not a break down with dan niles. then fintech's fumble. why today's selloff might not be a bad thing when

welcome to "techcheck" i'm carl quintanilla with jon fortt and deirdre bosa today, stocks rally to closeer by nearly 2%, trying to avoid the worst january ever coming as we await quarterly results from alphabet, amazon, metta, snap amd and others this

join us with a list of her stocks >> first, let's focus on the big stories we're watching today deirdre bosa is covering the pop for the nasdaq mike santoli tracking the rest of the stocks. deirdre, let's start with you and the big move we have for tech, up nearly 3% on the nasdaq >> another one of those days, wilf really those high growth names ripping higher to end what has been of course an incredibly tumultuous month we have seen some names in the space, especially software, already bounce back 10%, 20% from lows recently today, though, we're just seeing indiscriminate buying across the space. some is happening in the most beaten down names that are seeing the biggest bounce in the current session. look at c3, ai, peloton, robinhood, but those three are still 80% plus off their peak. still lots of ways to go cathie wood's ark etf in the momentum space, up, what is it, 8% now, still about 50% off its 52-week high on the flipside, guys, this bifurcation in tech still very much in play legacy or value names, ibm, cisco, oracle, dell, and the last are the chinese internet names. you mentione

we want to get to deirdre bosa who is digging more into ibm, which is up after hours.articularly on the better sales growth this is what they were promising post spin, and it looks like he started off with the delivering. >> well, let me tell you, there's a lot to dig through because these are very different results than what we had in the past we mentioned this ahead of the results, there's the spin-off which is making it very difficult to compare, which is why you might see some volatility in the after hours. i'm going to keep watching the charts the shares are up 5.5%, but what the market really cares about is that 2022 guidance we did not get that in this report it says they will discuss 2022 expectations on the earnings call that's likely because they're going to need a lot of context this is a very different company than it looks like a couple months ago it spun off a legacy business, so the results were always going to look better it's how sustainable is that, because we have seen in the past that ibm has had a quarter here, a quarter there, where it's return to

i'm carl quintanilla with jon fortt and deirdre bosa the nasdaq is down another full 2% today and leading ark funds, tesla, netflix down another