people are trading down, diageo reacting to that.nt, it is not a jewelry, the high end watches that are really under pressure. it is the price point, people are pushing back not prepared to pay these high prices. we are seeing significant inflation rate and the sumer -- the consumer signaling they have had enough. itv, that story today, the broadcaster under pressure flagging week advertising sales story going forward. it is exactly because of these companies that are not advertising in the same way that we are seeing that. it is kind of a representation of the forward-looking story from itv about what is happening with gdp. gdp out of the u.k. is a week. next week we see cpi data. let's talk about what next week is going to bring. a lot of data to work through. monday i will be in dubai. that will be fascinating. maybe a similar story, the consumer, what is happening? airlines have been benefiting from the high end spending. is that sustainable? tuesday we get -- today we have the stag bit. maybe we get the inflation bit. burberry g

d diageo is down double digit.e talked about richemont dragging the basket lower. >>> let's get back to what sparked the downbeat sentiment in the u.s. session. jay powell spooked market as he he left the door open for future rates. speaking at a panel discussion at the imf, powell said he believes the fed faces equal risks of raising the benchmark rate too high or not raising it high enough. he said officials were hopeful with the retreat in prioce pressure >> we are committed to achieving a chance to bring inflation down to% over time. we know ongoing progress to the 2% goal is not assured inflation has given us a few head fakes along the way if it is appropriate to tighten further, we will not hesitate to do so. we will move carefully addressing the risk of being misled by a few good months of data and overtightening risks. >> all three majors ended in negative territory nasdaq lost 1% the dow jones industrial average lost about 220 points. a broad-based selloff across wall street. putting the moves into context

clears and browns are just going down and diageo is clear and browns they do have casa migos.gave spirits, still doing well. but diageo, just like richemont, we're going to find out they're not doing well in the u.s., and they blame it on latam give me a break. and the caribbean. >> it's 11% of sales >> i'm still thinking about the other 89%. >> okay, but 11% is not insignificant if there's a significant slowdown for some reason >> yes, but i do think they reference north america as not being necessarily booming. >> no. >> diageo, boy, those companies, you know, when people don't realize that at one point, gin was the drink. you used to sell millions of cases and gin is just done >> what did billy joel sing? "making love to his tonic and gin. sign of the times in the '70s. >>> speaking of decliners, we could do unity, trade desk, ill illumina and plug. >> let's do them all wh whitehurst took no prisoners trade desk about auto, media, and inentertainment. there has been stabilization and they believe it was a transitory slo slowdown and the verticals we talked about, they are n

we had poor earnings from diageo. richemont dragging down.s catch up trade in europe this morning. >>> there is one stock in focus in the pharma sector which is novo nordisk. the weight losses drug wegovy cuts cardio deaths by 20%. the drug originally marketed to tackle diabetes found a 28% drop of cardio death risk. we found the risk cut of cardio events. that risk was expanded. in philadelphia, the company reported the broader results from that 17,000 person trial. overall, results are seen as encouraging. that is what the investment community has said. the stock price is indicating that as well. the weekly injections reduce the heart anttack and stroke by 20%. eli lilly has a drug of its own an approved by the fda to fight obesity as well. novo nordisk has ozempic and wegovy is the obesity version of the same drug. astrazeneca has joined the race as well. they signed a $2 billion licensing agreement with the oral version of the drug. it is still in early trials. it is not approved yet. it goes to show how exciting this group of drugs is to

and the stoxx 600 with the diageo spirit maker has weaker sales in latin america and cari caribbean. that is down today finally, to wrap things up, this is what asia looked like overnight. a lot of red on the board. nikkei down 1% property sector is the focus wynn macao is down to the lowest level in a year. frank. >> joumanna, thank you >>> back here to the u.s. and navitas system conductor is up 6% on the third quarter earnings beat revenue growing by 115% year over year as the use of the company's galium continues to displace legacy tech navitas announcing four new platforms across the pipeline and forecast revenue to exceed in the foreseeable future. joining me is the ceo of navitas. gene, thank you for being here >> thank you, frank. >> stock up big in the pre-market up 6% important to note you are not profitable yet, but revenue doubled. what is the driver for demand this quarter >> thank you it is an exciting time for us launching the technology platforms you talked about revenue has never been higher. we beat guidance across the platform revenue up 20% from the last quarter.

diageo not inspiring the market of the other for its business, particularly in latin america. the u.s. listed shares are off about 11%. this has pushed down some of the other spirits players. we are seeing weakness for wynn resorts having to do with the business and macau -- in macau. the good news for those with las vegas exposure is the fact they avoided that hospitality strike. f1 moves on. next week a big event, perhaps without disruption's on the labor side. matt: yeah. absolutely. next weekend, f1 in las vegas if that is what you are talking about. interesting race that will be. a party and a culture around it. let's talk about stocks. we see the equity rally continue on into the afternoon. investors for the moment are defying the recent hawkish comments from fed chair jay powell who suggested it may take more tightening to reach the bank's inflation target. >> u.s. inflation has come down but remains well above our 2% target. my colleagues and i are gratified by this progress. we expect the process of getting inflation sustainably down to 2% has a long way to go. jon: a

you can see spiritsmaker, diageo is down as well. julianna, it is a mixed bag.t has been a strong november overall. >> that strength in europe has been driven by the strength stateside. let's go to wall street and the moves over the course of november. growing hopes of a dovish pivot from the fed and soft landing is what is pinning the stock and bond markets. more than 8% higher for -- we have an issue for the nasdaq and s&p. all three of the majors are higher on the month. let's move on to the tech sector. you can see what has driven the strength. that is the tech sector. it led the gains when you look at it sector by sector. netflix up 15%. you have meta up 10%. microsoft has hit several records over the last couple weeks. up 12% for the month overall with the openai saga for the com the view has been satya nadella has ended up stronger and microsoft stronger after the back and forth with sam altman and the back and forth as the head of openai. earnings have been resilient across the tech sector. hoping to boost the opt miss i am woptimism with the growing rat

reflected in some of the discretionary brands , think what richemont had to say the last few days and diageo, the aviation industry clearly thinks at this point it is not going to be affected by that. we will continue with his huge post-pandemic room. then there is the industrial question as well. this is significant too, both airbus and boeing are struggling to build all the planes they have got at the moment -- the orders at the moment. they are still seeing substantial supply-chain issues. maybe that's part of the conversation here. because maybe the airlines are simply looking at the potential order books, they are worded they will reach capacity in their ability to build the airplanes, therefore they will secure the slots. the moment, despite what we are seeing elsewhere in the world, the geopolitics, the economic and industrial questions, the aviation industry continues to boom. the question is, does that get sustained? at the moment, the messages yes, yes, but these are huge headwinds we are facing right now. kriti: they are massive read as you point out, not only are they huge headwi

i want you to stay away from diageo.t to be more in bier, and that means you want to be in stz constellation, which we opened in the trust. that's the one to buy. bob in florida, bob? >> caller: mr. cramer, thanks for taking my phone call. how you doing? >> i'm doing well, bob. how about you? >> caller: i'm doing great. thanks for asking. hey, i have a buddy who is a former apache pilot and now in the coast guard. shout out mdr. but he always recommended this stock, and i want to get your thoughts on textron. >> i thank your buddy and thank him for serving has got a real good call. textron is way too cheap. i don't understand why it's down here. it's a buy. let's go to steven in new york. steven? >> caller: hey, the fundamentals on my stock recently haven't been too pretty, but with this recent consolidation, i was thinking about getting target here. >> target is 4%. i like costco. i like walmart. i like amazon, i like tgx. target is really being afflicted by stealing that stock will be dramatically higher if it weren't

commentary sourz investor appetite food and beverage stocks leading the way, down with british drinks diageo falling double digits the johnny walker maker due to a slowdown in latin america. >>> cartier's parent company lower after warning inflation and geopolitical issues are slowing consumer sentiment the chancellor saying high inflation is the, quote, second greatest threat to economic growth pretty fascinating, the interplay between the various geographies and how the rate regimes are impacting and having a real impact on growth. >> yeah, uk between retail sales and inflation, employment, it's been a tough road. >>> let's get a news update with dominic chu. >> good morning. former president donald trump's requested to delay his classified documents trial in florida was rejected today but judge eileen cannon said in a court filing this morning she is leaving the door open for a delay and will consider the issue again at a scheduling conference on march 1st. >>> the number of kids opting out of routine childhood vaccines has reached an all-time high, according to a new report from the cdc

and shares are down 6% the maker of diageo, and beer sales and profits in the first half of the fiscalcted. they said it is a laggard. cutting back, or seeking to look at regions with 11% of total sales. shares are down 11.5% and on pace for the first day since 1990 scott? >> thank you very much kristina partsinevelos. >>> last chance now to weigh in, on our question of the day we asked what is the fed's next move is it a hike, or a cut @cnbc closing bell next. the results after the break. when you're looking for answers, it's good to have help. because the right information, at the right time, may make all the difference. at humana, we know that's especially true when you're looking for a medicare supplement insurance plan. that's why we're offering "seven things every medicare supplement should have". it's yours free, just for calling the number on your screen. and when you call, a knowledgeable, licensed agent-producer can answer any questions you have and help you choose the plan that's right for you. the call is free, and there's no obligation. you see, medicare covers only about

if i look at what is happening with discretionary spending like lvmh and diageo, they are seeing theling over. the think this happens in aviation, or after the pandemic, people are saying i will have the airfare? christian: i think that is true. an air trip is no longer a luxury per se. it is part of discretionary consumer spending. guy: as a top of the list? christian: the recent here we have seen behind the pent up demand from the pandemic, i believe the consumer will intend to go enjoy and visit friends and family for they buy an expensive watch. rishaad: christian scherer, airbus ceo, speaking to our colleague at the dubai airshow. coming up, no face. david cameron making a comeback. we will discuss this cabinet reshuffle in the u.k. and what it means for relations with allies as well as china. this is bloomberg. ♪ rishaad: former british prime minister david cameron, massive surprise on a comeback. he has been appointed as the secretary to the commonwealth and foreign office, replacing james cleverly. bruce einhorn is with us. what was behind this move? how on earth did he manag

forget to our next guest, i would like to give you a sense of one share moving this morning, diageo,wiss watchmaker, diageo shares plunging after cutting the outlook with the head of the company saying that there are materially weaker performances in latin america and the caribbean. tom: this is a huge deal and there are number of ways of looking at this. a singular disappointment for l vah, it was all thing cognac sales in america, but in the fancy liquor part of the luxury business, i think crater is the operative word right now. lisa: do you think this is specific to the liquor market? is it something that people are moving more to craft or specialty things? tom: maybe. lisa: or is this indicative of luxury demand? that is one of the key questions with the two prong spirits and watches. tom: i will make this up, and deal with people in london who are experts in this, but the bottom line is i think there was a pandemic acquisition. you do not down a bottle of cognac in one night. i don't think that is the way it works. so they bought in. so there is a long and variable lag. lisa: a

there are deals that can be struck with hamas which is so distrusted and viewed as a terrorist group diageond we note 200 and a0 people were taken hostages which leaves a lot of hostages remaining inside the gaza strip. the hope is there can be an extension to this deal. israel says for every additional ten hostages freed, it will allow another pause of a day in the fighting. this will allow another pause of a day in the fighting-— the fighting. as we talk, we are watchin: the fighting. as we talk, we are watching pictures _ the fighting. as we talk, we are watching pictures of _ the fighting. as we talk, we are watching pictures of the - the fighting. as we talk, we are watching pictures of the rafah i watching pictures of the rafah crossing and aid trucks making their way, very slowly, they are backed up. i have been speaking to the un about the desperate need and a drop in the ocean as eight represents, can you tell us that hold in rafa, the extent of checks that trucks have to go through before they can proceed? have to go through before they can roceed? , , ,., ., have to go through be

. >>> diageo shares loefrer lowe overnight.e first half of the fiscal year with the weaker performance in latin america and the caribbean. it cut guidance for the short-term and medium-term >> my son is taking sign language which i think is the cool he shows me things now that would be ideal. i think i would do that. you learn nothing. >> from what >> latin >> your vocabulary would improve. >> i would rather take sign language >> latin >> no, sign language >>> coming up, we will talk about the political implications of senator joe manchin's decision not to run for re-election. that's coming up next. >> announcer: executive edge is sponsored byat&t business. next level moments need the next level network. move to the cloud. - so, the question is... - cyber attack! as cyber criminals expand their toolkit, we must expand as well. we need to rethink... next level moments, need the next level network. [speaker continues in the background] the network with 24/7 built-in security. chip? at&t business. power e*trade's award-winning tra