shannon is here to break down the crucial moments of the trading day, plus deirdre bosa and sam stovall. the s&p 500 did snap a four-day win streak on friday look like it might post its second day of losses here, but all major averages are on pace for their best monthly gains of the year all the mega caps report this week we've got a fed meeting. we've got a gdp report >> wow, what a story there is so much going on and so much to look at. i think it's a great week. we're going to get guidance. we're going to get that gdp print. everyone has been concerned about a second negative print. are we in a recession. we're also going to get great housing data i think a late will create much better context for investors than maybe we've had over the course of the last couple of months where it's one big statement from the fed or it's the cpi print. this week we're going to get some real interesting data the more data we can get is a really positive thing for investors. i'm looking forward to hearing what the fed has to say. many of us who are stating it will be positive, it will be interesting to

let's ask deirdre bosa deirdre? >> well, kelly, let's put it this way gone are the days of big starss the event or lady gaga debuting her beauty line. so in a sense, it is scaled down, but the deals are still there. but the best ones are for the company's own devices. 21 out of 22 of the top deals are for amazon's own products or alexa-enabled devices. more broadly,prime day has become a more subdued event than we have seen in recent years, and that isn't necessarily a bad thing for investors. markets have been focused on how recession fears, high inflation, over capacity, how that is raising costs for the company and hitting the bottom line. so cutting back on promotional spend around prime day, clearing out inventory for its own products, that could help with profitability in the third quarter. and rather than use the event to pick up more prime members, of course, it is doing that, as well, but amazon may be focusing on harvesting those more than $170 million members it already has signed up. it may want to show

"techcheck" starts now >>> good wednesday morning i'm carl quintanilla with jon fortt and deirdre bosa today the great rebundling continues. what it means for the subscription ecosystem as businesses try to capture consumer demand and rising rates from apple to disney, we'll talk about it finally we'll check in with the ceo of arm on what might be one of the year's biggest ipos. >>> we'll kick off with am soft's shift into food delivery or maybe back into food delivery it was here once before. just eat, the parent company behind grub hub announced amazon is taking a 2% stake in grub hub which could eventually grow to as much as 15% if certain metrics are met. in return, amazon prime subscribers in the u.s. will get one year of grub hub plus added to the list of benefits. take a look at the shares of grub hub competitors, uber and doordash dash down about 8% these companies have been moving into things like beauty, electronics, convenience that's amazon territory right there. so this perhaps is amazon saying i see you guys, i'm going to keep tabs on you and i'm going to help the number

i'm deirdre bosa with carl quintanilla and jon fortt. the real standout here, up 2 1/3 percent after being helped by the earnings texas instruments shares up nearly 4%. helping the whole tech space. >> coming up, meta expected to report its first ever decline in revenue, taking a hit from the digital add slowdown that sent shares of snap, twitter and others plummeting. julia boorstin joins us with a look at what to expect tonight is this going to be more of snap or more of alphabet? >> well, that's the question meta shares are up nearly 4% this morning in the wake of google's better alphabets, better-than-expected results those shares are still down nearly 10% for the week ahead of earnings this afternoon. these earnings are expected to be when meta reports its first ever decline in revenue after last quarter its facebook app reported its first ever decline in users this all comes as investors br brace for meta to suffer from tall same issues that hurt other platforms, macroeconomics, challenges regarding apple's operating system and gro

i'm carl quintanilla with jon fortt and deirdre bosa stocks reversing to the upside after early lossesgh still in the red dow down 211 cpi down on the year the ten-year done a complete reversal, back to 295. first a news update with christina. >> good morning, carl. here is what's happening at this hour president biden says the 9.1% jump for june consumer prices is unacceptably high but also out of date. in a written statement released by the white house, the president notes today's number doesn't fully reflect recent price drops for energy even so he calls inflation the country's most pressing economic challenge. >>> based on today's inflation report, the 2023 social security cost of living adjustment may hit a record high. the senior citizens league estimates it could be 10.5% increase -- a 10.5% increase unless price pressures cool in the coming months. >>> canada's central bank is out with a surprise interest rate hike today, a full percentage point. it hopes to avoid higher rates later on an cool inflation without causing a recession. >> kristina, thank you we've mentioned it, uni

i'm carl quintanilla with deirdre bosa and jon fortt cutting forecasts on weakening demand, what thatames like microsoft and apple. plus, is the cloud recessionproof a check in on the enterprise side of things ahead of results from google and amazon this hour and then finally, ever trade crypto on coinbase according to the s.e.c. you may have broken the law. that story coming up later as well, jon. >> we'll

deirdre bosa brings us with the details.l keep being busy. >> still two of the most crucial names so far have to go tonight. there is a sense of relief alphabet, microsoft, were less than expected. meta was bad, but shares perhaps cushioned from greater losses today, semi results have been mixed, but meta hasn't been the meltdown that some feared. questions today, though, on whether that was over -- we were just discussing this, and we talked a lot on this about "techcheck." is less-bad really good enough the fundamentals are still facing some headwinds. zuckerberg said ad demand will persist, and they're already running up against -- it's holding up better, with the details on cloud as well texas instruments provided some optimism earlier this week but qualcomm was last night. the headwinds are not expected to ease soon we headed into the huge week, now that we're nearly halfway through earnings season, relief, however, could quickly turn depending on what we get from amazon and apple will amazon be more -- for apple, it is

a big impact on the nasdaq, which is up 2% we're joined by other own deirdre bosa with more >> a senseing, certainly evident in their stock movements, relief that make -- results from both alphabet and microsoft, they did -- there was no meltdown revenue growth still in the double digits. the markets, they'll take it more importantly, perhaps, they were optimistic. they were still there, strong dollars, lower pc sales. resilience and alphabet. they were able to deliver despite the headwinds, certainly proving more revisilient. microsoft signed a report number of azure cloud contracts they also forecast 40%-plus cloud growth in the fourth quarter. beyond the better themed, both companies did express uncertainly about the macro, and take google's youtube, just 3%, down significant ly. >>> dee -- for more, make sure you join us. >>> no shortage a topic today. we'll turn to chipotle results it's up 14%. indicate rogers joins us now with chipotle's ceo brian niccol thank you so much, sara. good to see you, brian >> good to see you. >> while that's not chipotle's -- i'm wondering when you th

. >>> i'm carl quintanilla with deirdre bosa and jon fortt qualcomm shares are falling despite a beat as guidance comes in below estimates yet another ceo warning about the macro picture. plus another weaker number and that's meta. as bad as feared, stocks down almost 8%. best buy, comcast, service now all turning sharply lower. and confirming all that corporate guidance gdp comes in light. we'll get a first read on q2, that's two quarters in a row of slowing growth although, jon, we should point out other companies raising their guidance there's a bit of a mix today >> more and more i'm looking ahead to q4, because that's going to be so decisive in what directionally is happening here. the messages are so mixed we see the consumer light that's reflected in qualcomm, lower end hand sets, not as popular, you have signals like that and what we have from walmart earlier this week, the consumer shows up, to what degree there's inventory overhang and, deirdre, and what that means for revenues flowing through to customers and into the economy we're still several months out >> just like the

deirdre bosa is looking at how these stocks hold up names like zoom video and docusign up big. >> theye been trashed this year so it is the most oversold growth names in today's session leading the nasdaq 100, zoom, docusign, datadog have been hit hard since the start of the year now investors are dipping back in just ahead of the earnings parade they're also less sensitive to the big multi nationals that make up the dow. you mentioned the gig economy. check out doordash other big names also doing quite well today and then there's coinbase down 80% year to date that's also up more than 10% or almost 10% in today's session. maybe the cherry on top is that 10-year yield which we watched so closely briefing dipping below 2.8 today. higher rates based on future profits and easing of yields that may be helping to ease the selling in these names take note of bitcoin, though it has acted like a risk asset and it is less today than some of the other risk names, peaking above 20,000 just in the last hour or so back to you. >> so you've studied and covered a lot of these names during the pandemi

it good discussion tonight don't miss the tech trade, hosted by our deirdre bosa featuring cathie wood and dan niles and more he was pretty negative on the names on monday shorting a bunch of them. didn't work out too well for him. look forward to hear from him later tonight at 6:00 p.m. on cnbc. >>> it is a strong week for tough but harder for retail after walmart and best buy, we'll discuss the landscape with the columbia sportswear. we have nearly every sector positive energy and consumer discretionary and industrials lead staples and health care are the two ones that are lower. we'll be right back on "closing bell" here on cnbc thanks for coming. now when it comes to a financial plan this broker is your man. let's open your binders to page 188... uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? j

right now >> good monday morning, welcome to tech neck i'm carl quintanilla with jon fortt and deirdre bosa today a make or break week ahead for he can nolg as key names like microsoft, apple, google, meta and amazon all report results. we will talk about the key risks to watch out for and that's on top of results from nearly a third of the s&p as bofa warns stay out of the in networking names we will discuss that finally don't miss an exclusive with the ceo of klarna this hour the company's valuation plunged 85% or almost $39 billion. >> carl, back just in time for our super bowl, that is big tech earnings, that kicks off this week every mega cap name you can think of along with smaller but not small names, nxpi, shopify, nearly a third of the s&p, 40% of the dow will be reporting results. dom chu joins us with thebreak down i'm rested and ready, it's going to be a big one. >> it's going to be the super bowl like you said this is going to be what constitutes the biggest influence on where we could see markets going with regard to the fundamental side of that equation, charts aside, macro e

i'm carl quintanilla with deirdre bosa and jon fortt cutting forecasts on weakening demand, what that means for consumer focus names like microsoft and apple. plus, is the cloud recessionproof a check in on the enterprise side of things ahead of results from google and amazon this hour and then finally, ever trade crypto on coinbase according to the s.e.c. you may have broken the law. that story coming up later as well, jon. >> we'll start this feed with consumer weakness. walmart warning that shoppers are spending more but getting less because they're spending it all on food and energy higher margin items like apparel and tvs therefore not moving walmart shares plunging taking down names like amazon and etsy in the process and more evidence of a consumer slowdown logitech reporting a 38% fall in profit cutting outlook on slowing demand for webcams and gaming equipment, though keyboards and mice, things like that actually sell more and shopify shares also under pressure cutting 10% of its workforce, its ceo saying he expected surging e-commerce sales to continue, quote, it's now clear

. >>> staying with amazon, deirdre bosa is looking at andy jassy.ne year ago he took over for bezos, succeeding a founder never easy >> never easy. in this case it's hard to imagine a more challenging first year he took over just as amazon was exiting over capacity issues, he would lose several key executives like dave clark who ran the core e-commerce business, and over that first year, amazon has shed some 650 billion there's in market value. it just closed out its worst quarter since 2000 how much could investors blame jazzie he was running amazon web services, which was see growth reaction sell race however it was likely he was working closely with others and had a hand in things like union messaging, which has been a series of miscalculations that led to an historic win for one union at the staten island warehouse. the bigger question for investors is can he fix they issues we know the history, it went on to sell more than just books to become the behemoth that it is today this time it may be the vast capacity and logistics network that, yes, w

"techcheck" starts now >>> good wednesday morning i'm carl quintanilla with jon fortt and deirdre bosag continues. what it means for the subscription ecosystem as businesses try to capture consumer demand and rising rates from apple to disney, we'll talk about it finally we'll check in with the ceo of arm on what might be one of the year's biggest ipos. >>> we'll kick off w

an exclusive with arc invest cathie wood joining us on our special "the tech trade" hosted by deirdre bosax on yesterday. >> some unfortunate oneslately >> we'll see what her view is -- >> look it doesn't matter right because you have to have that long-term view i'm taking a 50-year horizon she bought a lot of roku region. that's worth asking. when i'm 110 i'm going to kill it you wait in my coffin i'm going to crush it. >> jim's 50-year price target. we're getting close to 4100. s&p up 25 points as we go to break, take a look at bond report again, the macro number is not that great pce year on year, 6.8. highest since '282 core 4.8 up from a prior 4.7. >> did three quarters. maybe he should have done 275. >> you got the two year back to 2.91 we're back in a minute. >>> the bond report is brought to you by -- dolly varden silver is advancing their high-grade undeveloped asset in bc's prolific golden triangle. the property includes two past producing mines, and over 135 million ounces of silver equivalent. dolly varden. do you have a life insurance policy you no longer need? now you can sel

right now >> good monday morning, welcome to tech neck i'm carl quintanilla with jon fortt and deirdre bosar he can nolg as key names like microsoft, apple, google, meta and amazon all report results. we will talk about the key risks to watch out for and that's on top of results from nearly a third of the s&p as bofa warns stay out of the in networking names we will discuss that finally don't miss an exclusive with the ceo of klarna this hour the company's valuation plunged 85% or almost $39 billion. >> carl,