in silicon valley and beyond, this is bloomberg technology with emily chang. emily: i am emily chang in san francisco and this is bloomberg technology. alphabet's earnings mostly in line with estimates. a sigh of relief for those concerned about the digital ad market but the same can't be said for microsoft which posted the slowest sales growth since 2020. we will look into these mixed results. plus the $52 billion chips that it one step closer to president biden's desk. u.s. tech companies will not have to rely so much on taiwan where house speaker nancy pelosi may be next month. and more scrutiny for cryptocurrencies, the sec is investigating coinbase over possible trading of unregistered securities. accusing a former coinbase manager of insider trading just last week. we will have all the details. we will exert -- we will get to all of that in a moment. let us start with microsoft and the parent company of google, alphabet. ed ludlow at the top lines from the quarter. >> we are actually a touch higher. 3/10 of 1% after microsoft missed on the top and bottom

innovation, money, and power collide, in silicon valley and beyond, this is bloomberg technology with emily chang. emily: i am emily chang in san francisco and this is bloomberg technology. coming up, stocks amidst a shockingly high and ration report. investors wondering if the fed will get more aggressive. we will talk about what it means for tech ahead of a key earnings season. plus, an exclusive conversation with ibm ceo. what is his view on the economy and the supply chain? we will ask that and more coming up. in the first ads on netflix will be brought to you by microsoft. were going to tell you about the deal between the two tech powerhouses entering the ad business. all of that in a moment but first, i want you to look at the markets, another day in the red and no thanks to inflation. ed ludlow here with all the latest moves and take it away. ed: cpi for the month of june coming in hotter than expected. equity markets, sometimes they go up, sometimes they go down, sometimes they do not move at all and that is where we are at with the nasdaq 100 ultimately down a 10th of 1%. i don't normall

in silicon valley and beyond, this is bloomberg technology with emily chang. emily: i am emily chang in san francisco and this is bloomberg technology. twitter's lawyer saying the termination of the deal was wrongful. we will talk to another former twitter insight about where the legal saga goes from here. plus, the palatine uphill battle will stop making bikes in house. we will have all the details. and funding for crypto startups, we will ask lightspeed venture partners why they are planning to double down on the blockchain and hunting what they call outliers and putting $1 million behind his new ideas. we will get all of that in a moment. coming out of the next 24 hours, ed ludlow has all the moves and here we are again. tech is losing steam. >> more muted most of the downside. that cpi data is due on wednesday. i have a public service announcement for you. you know i love to do that when it matters. the u.s. bureau of labor statistics has said there is a fake cpi report doing the rounds online. an eagle eyed investors will wait for the official release of t

innovation, money, and power collide in silicon valley and beyond, this is "bloomberg technology" with emily chang. emily: i'm emily chang in san francisco and this is bloomberg technology. a record june quarter for apple with revenue despite headwinds from a strengthening dollar, china lockdowns, and an expected slowdown in consumer spending. the iphone topping estimates but supply constraints hitting the mac and ipad. tim cook, we will tell you what he had to say. amazon surging in late trading after providing a strong outlook for the third quarter. a much different forecast than other retailers. net sales jumping in the second quarter thanks to prime day shoppers. we will dig into the data. the largest chipmaker for mobile devices is mourning the slow down in spending. -- warning of a slowdown in spending. we will talk about the weaker than expected forecast. all of that in a moment but first, a look at the markets. another big day for tech results. apple and amazon out after the bell and we are seeing some green. ed: apple up 4%, narrowly beating the top and bottom line. strengthen iphone and

innovation, money and power collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang. emily: i'm emily chang in san francisco. coming up in the next hour, apple announces a rare sales promotion for the iphone in china. but is the discount a bad sign? we will discuss. on the latest episode of keeping up with tiktok, meta introduces a new revenue-sharing feature to help creators make money from videos set to music. what it means for facebook and instagram's efforts. tech workers may be leaving a hole in san francisco. can the city recover? does silicon valley need to reinvent itself as a tech hub? we will talk about that later this hour. first, the markets are equipped sawing with tech dropping lower in what could be a brutal week for earnings. ed ludlow has the biggest moves and one of those is walmart. ed: earnings season hitting us in the face. the nasdaq 100 down 0.5% for a second day of declines following a negative end to the week. the philadelphia semiconductor index, or sox, also lower 0.7%. even with the administration giving talks with business leaders about b

this is "bloomberg technology" with emily chang. emily: i'm emily chang in san francisco and this is bloomberg technology. tesla shares jumped after better-than-expected results showing the carmaker is getting production back on track. tesla making more ev's in june than any other month in the company's history. netflix shares rallied after the streaming giant lost only one million instead of 2 million subscribers. a shift in investor sentiment could buoy markets next week. the influencing marketing firm announced it has a new board member. all of that in a moment but first i want to get to stocks lifted by netflix seemingly streaming in the right direction. taylor riggs is here to break it all down. this is one losing one million subscribers is not so bad. >> somehow we are managing to turn that around. when you think about technology, the big performer, outperforming the sox index and the russell 2000. it was a day of green on the screen after a broad-based rally yesterday as well. it has actually been one of the best post earnings

money, and power you collide, in silicon valley and beyond, this is bloomberg technology, with emily chang. emily: i'm emily chang in san francisco and this is "bloomberg technology." coming up in the next hour, a bloomberg scoop, apple plans to slow hiring and spending. we have the inside scoop on how they plan to do with it. netflix says stranger things was even bigger than expected. but can netflix deliver in its earnings report this week after a dismal start to the year, stranger things have happened. bitcoin rally, jumping as much as 7% for the first time in weeks. what is driving the rebound? later this hour. we will get to all of that in a moment but first let's get a look at the market. stock slow down after the bloomberg scoop that apple plans to slow hiring and spending. cutting back on a normally aggressive r&d budget. taylor riggs is here to walk us through the day. taylor: equity markets were green on the screen about 10 minutes before 2:00 when i went on air, all of it started to unravel with that headline you just mentioned. the nasdaq 100 off about .9%, certainly the big un

innovation, money and power collide, in silicon valley and beyond, this is bloomberg technology with emily chang. ♪ emily: i'm emily chang in san francisco and this is "bloomberg technology." coming up in the next hour, meta falls after reporting its first-ever decline in quarterly sales. added to the list of social platforms warning an ad back will hurt the bottom line. in the division building the metaverse, reality labs lost $2.8 billion in the quarter. the senate passes a bill to reinvigorate the u.s. chip industry. but pc sales are slowing as consumers get out of this pandemic mindset. how will this change how silicon valley does business abroad? we will discuss. more bad news for coinbase. cathie wood's ark sold $75 million in shares after the sec announced an investigation into trading activities. why are shares up double digits? we will explain. first i want to get a look at the markets. big tech names, meta and qualcomm porting after the bell. ed ludlow here to break it down. ed: meta, its first-ever sales decline. the stock down 3.5% in after-hours. the option market priced and a lot m

power collide in silicon valley and beyond, this is bloomberg technology with emily chang. emily: i'm emily chang in san francisco. this is bloomberg technology. coming up in the next hour -- could have been worse. -- could've been worse. that's what analysts are saying about netflix results. shares jumping despite losing almost a million subscribers. could ads solve the company's problems? we will discuss. twitter wins for now -- a judge grants the company to fast-track its lawsuit against yield -- against elon musk. the trial now set to start in october. what it tells us about which side has a better shot stop as a major crypto lender, is regulation the answer? the head of u.s. policy talking about the weight out of the ashes of the crypto crash. first i want to get a look at the market. tech pushing u.s. stocks higher as earnings season it does well. ed ludlow is here with the very latest. ed: interesting session. 494 stocks in the green, that's the breath and rally we haven't seen since march of 2020. if you look at the outperformance, the nasdaq up 3%, its best performa

innovation, money, and power collide in silicon valley and beyond, this is "bloomberg technology" with emily chang. emily: i am emily chang in san francisco, this is "bloomberg technology." how would delaware court could force ideal from daily signs allowing twitter to seize his assets. all of the ways musk good to be held to his word if you losers what is shaping up to be an epic legal battle. a big boost from elliott management after the activist investor takes 89% stake in company shares jumping after hours. amazon had a surprisingly strong day, sales jumped. we will break down all of the data. big tech moves after hours as we mentioned pinterest jumping, snap soaring. ed ludlow with us for more. >> broadly we had a down market, s&p 500 softer by .3 of 1%, a lot of that speak, we had the hot inflation print earlier in the week. a lot of chatter that the next fed move will be a 100 basis point hike putting toward recession territory. you had a fed speech out thursday with a lot of names saying 75 basis points and the nasdaq 100 closing up .3 of 1%. we sought yields push higher backdoor that 3% m

emily chang spoke with the ceo. >> we need more chip manufacturing.tand that chips are important. an essential technology now for our economy, and a company like qualcomm, the largest semiconductor company, we need more manufacturing of chips, so we are very happy about that. in korea, one of the top two customers of tsmc, and more manufacturing capacity in different geographies with even more suppliers such as intel -- that's great news for the industry, so we are very excited about it, even though we are not a direct beneficiary of the funds, but it creates more capacity and supply for our chips. emily: with this head off supply disruptions like those we have seen with covid? >> i think the way to think about this because this is not going to have any short-term impact -- this is about building a more resilient and geographically diverse supply chain for semiconductors. over time, i think we are going to build the infrastructure in place that will allow us to grow as an industry and have a more resilient supply chain. emily: let's talk about your re

innovation, money, and power collide in silicon valley and beyond, this is "bloomberg technology" with emily chang. ♪ emily: i'm emily chang in san francisco. coming up in the next hour, twitter's tepid results. another blow to the company already fighting a legal battle with elon musk. we talk about what it tells us about the state of social media. plus, more tech companies hitting the brakes on hiring. what does it signal about the future of the economy and what does silicon valley look like when the dust has settled? and finding a soulmate comes with a cost and inflation is not helping. singles are getting creative as the dating economy suffers from sticker shock. first a snap, then twitter dragging markets down, this only fueling fears of a recession. ed ludlow here to break down what has been a sour and to the week. ed: yeah, happy friday to you, too. technology for clear underperformer, snapping three straight days of gains, which was its best day since may. the earnings season hit us in the face hard and we are reacting to inflation, to weakening advertising demand, pulling back 12 basis po

i am emily chang in san francisco and this is bloomberg technology. coming up in the next hour, it could have been worse. that is what analysts are saying about netflix results. she was jumping in late trade despite losing almost a million subscribers. could ads solve the company problems? we will discuss. plus, twitter wins for now. a judge grants a company request to fast-track a lawsuit against elon musk. the trial scheduled to start in october. we will explore this particular judge's record and what it tells us about each side. and as a major crypto letter and all of that, is regulation the answer ahead of u.s. policy of coinbase? talking about the way out of the ashes of the crypto crash. we will get all of that in a moment but first, look at the market. tech pushing u.s. stocks higher as earnings seasons get well and truly underway. ed ludlow is here with the very latest. >> interesting session. 490 four stocks with the s&p 500 in the green on tuesday. that is the sort of breath in a rally we have not seen since march. the opera performance in t

innovation, money, and power collide, silicon valley and leon, this is "bloomberg technology," with emily chang. emily: i'm emily chang in san francisco and this is "bloomberg technology." snap misses big and even the ceo says he's not happy about the result. plus the company gives no third-quarter forecast. how deep our advertisers slashing their budgets? we will discuss. plus, consumers are still strapped for cash, pushing back cell phone payments, hurting the bottom line of at&t, shares dropping the most in two decades. i will ask eo what this tells him about the state of the economy. a health kick, amazon purchasing one medical in a deal one day after they published their 60 page report about their own dominance in the sector. we will head to the front lines of a new showdown. all of that in a moment, but first, tech valley before the bell, more after hours on the back of snap results. ed ludlow is here with the latest. snap, not so good. ed: what's so interesting is how tech is dominating the psychology of the market. it makes for a pretty big pullback in yields when you look at the 10 yea

hide in for emily chang -- i m caroline hyde.hat the $44 billion twitter deal looks like, plus klarna down from 45.6 million. we talked to an investor in the company. prime time shopping of vent, the two day shopping extravaganza, how prime day could help the third-quarter online sales day. were getting to that in but a moment, but first, let's look at the markets. tech down. ed ludlow will be pushing us ahead towards more earning, but risk aversion today. ed: risk off was the buzz phrase. the nasdaq 100 biggest drop in around two weeks. we are off the back of five straight days of gains for the nasdaq, which was its best winning streak since november. look at areas of pain, semi conductors down at a time when yields are pulling back again below 3%. bitcoin caught up in this risk off sentiment, but there is a pattern emerging i suppose. bloomberg terminal, look at this chart. we have seen in recent weeks the nasdaq 100 make a weekly gain and then pull back. the rally kind of losing momentum. then we have a few down weeks, then we

caroline: this is bloomberg technology, i am caroline in for emily chang.n is cutting its workforce by 5%. shares closed down at six and have percent on monday and this was following arab oort from ed ludlow -- following a report from ed ludlow. ed: it is important to note that sources say these are nonmanufacturing roles, these are not the men and women on the assembly line actually building is. they are back office and supportive roles. rivian raised a lot of money before going public, raised money when it went public and they were able to grow so quickly. they have doubled headcount to 14,000 employees in the last year alone and in some of those areas, they grew too fast to too big of a size. they have duplicates and a lot of roles, so with the macro picture such as it is, they are trimming the fat and bracing for a sort of less solid global economy. caroline: over all, do you think that this is a case of having over hired? in case of reorientation or a case of trying to meet the economy where it is? ed: rivian's interesting because the demand is so grea

innovation, money, and power collide in silicon valley and beyond, this is bloomberg technology with emily chang. emily: i'm emily chang in san francisco. this is bloomberg technology. coming up in the next hour, support much go -- twitter's lawyers say the termination of the deal was wrongful. we will talk to a former twitter insider about where the legal saga goes from here. plus telecoms uphill battle continues -- the connected fitness company will stop making bikes and house. we will have the details. funding for crypto startups plummeted last quarter. we will ask likely venture partners why they are planning to double down on the blockchain. and sequoias janice lee will talk about their new plan to hunt for what they call outliers and put $1 million behind them. first i want to get a look at the markets. tech pulling stocks lower ahead of key consumer data coming out in the next when he for hours. ed ludlow has all the moves and here we are again -- tech losing steam. ed: more muted moves to the downside then perhaps we saw on monday. that key cpi data to you on wednesday at 8:30 a.m. easte

. ♪ caroline: i am caroline hyde in new york, infra emily chang, and this is "bloomberg technology coming up in the next details on hour, a report that elon musk's deal to buy twitter is in serious jeopardy, a report saying the team has stopped engaging in discussions around the 44 billion dollar deal. and we will chat with the eventbrite chairman and cofounder kevin hart about the consumer demand of life events as they have made a big return post-pandemic. and we will chat with the major league soccer commissioner don garber on details about doubling down on sports betting that are this hour. first a look at the markets. taylor riggs is here how to show the nasdaq route 8. taylor: is this "bloomberg's markets: the close"? [laughter] take a look at where we ended our for the day. we have been talking about this big four-day rally that the s&p foot together. some of the biggest streak we have had since going back to march. we are getting some green on the screen. i think you mentioned the nasdaq 100. it was all about big tech, you can see another four-day rally. big tech pushing for

. >> i am caroline hyde, inver emily chang. media moguls, billionaires and some of the biggest names in tech media, finance and sports. we will get the latest from the ground. plus, one of the most famous apps in the world, tiktok, under pressure, fresh and they need big tech to deleted. and companies last year defied the pandemic to go public at a record pace. they brought the missing party to a bit of a halt. we will speak to the chief commercial officer. we will get to all of that in just a moment. first, a look at the markets. >> tech stocks made a complete turnaround. fascinating when you see this. if you look at the market, this is not what the markets look like. you did not see green on the screen. a lot of the driven by the stronger dollar story that we saw. you kind of saw a turnaround story halfway through the session. a lot of it is driven by big tech. the nasdaq outperforming in a very big way. of 1.7% on the day. look at these yields. i bet some of the yield picture is playing into this. down only six basement -- d

innovation, money, and power collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang. emily: this." coming up, tesla shares jumped after better-than-expected results showing the carmaker is getting production back on track. tesla making more ev's in june than any other month and the company's history. we will dig into the numbers. netflix shares rally after the semi giant lost only one million instead of 2 million subscribers. could this shift in investor sentiment we markets as earnings rollout? and it is game on for the influencer marketing house. a board member via spac. why now? all of that in a moment. i want to get to stocks rising in part lifted by netflix seemingly seeming in the right direction. taylor begs here to break it down. this is when there's a one million subscribers is a good thing. >> we are managing to turn that around and it did leave the market here, 20 think about technology, a performer, outperforming the stocks index. the russell 2000 also a big outperformer. it was another day of green on the screen. coming off of yesterday, which was a broa

. ♪ ed: i'm ed ludlow in san francisco, in for emily chang.ing up, signing an option to buy a crypto lender. an exclusive conversation on synergies between the two businesses. misinformation moment. one week on from the u.s. supreme court overturning roe v. wade, doctors tell bloomberg, potentially deadly abortion advice is spreading online. and a tesla test. the ev maker expected to report numbers this weekend and a hot streak of records as shanghai shutdowns lead wall street to cut forecasts. first, look at the market, stocks staged a late friday come back, ending april start of 2022 on a slightly positive note. here is bloomberg markets reporter katie greifeld. katie: happy friday. it was a bizarre friday in the market. this chart shows you why. you had bonds in a huge rally, 10-year yields dropping 13 basis points. cash bonds closed early ahead of the long weekend and stocks took off. the s&p 500 finishing over 1% higher, nasdaq 100 up 17%, but stocks, the philadelphia semiconductor index down almost 4%. the first half of the year was bad

. >> i'm caroline hyde in new york, in for emily chang. this is bloomberg technology. airbnb will host tricky legal meant amid state abortion bands. why women hoping to get abortions may not be all that easy. as the biggest names in tech gather at sun valley, we will hear from 23 me about the new study on lung covid and the current state of biotech stocks and doordash and over show that amazon will take a stake in grubhub business. why they might start a favor grub in delivery services. investors kind of inhaled the economic data that hinted at a slightly slower growth. katie joins us now. the jobs did is looking strong. >> it is a great question. don't have a great answer. there is a lot of intraday volatility. they managed to string together a third straight day of gains. it kind of took off at 2:30 p.m. a half-hour after the somewhat hawkish bid. the broader market here. this closed a bit higher. about .4%. the infotech sector closed .9% higher. that came even as you saw an enormous jump in that two-year treasury yield. up 18 basis poin

caroline: i'm caroline hyde in new york, in for emily chang. we have attempts to navigate a tricky medical maze among state abortion laws. seeking to get abortions may not be all that easy. as the biggest names in tech and media gather in sun valley, we will hear from 23 and me about the company's new study on long covid, and the current state of tech stocks. doordash and hoover's ceo agreed to take stakes in grubhub. will get all of that in a moment. u.s. stocks rose for the third straight day as investors kind of inhaled the economic data that indicated slower growth. katie greifeld joins us now. the fed minutes sounded pretty hawkish. why the rally? katie: good question. there was a lot of volatility today. the nasdaq 100 managed to string together a third straight day of gains. it took off about half an hour after somewhat hawkish fed minutes came out, and it was really tech leading the way. the s&p 500 closed at higher, but the tech sector closed 0.9% higher. that came even as we saw anna norma's jump into your treasury yields, up 18 basis

caroline: i am caroline hyde in new york, in for emily chang. this is "bloomberg technology." elon musk's escalating battle with twitter, the takeover possibly in jeopardy. the world's largest contract chipmaker reported better-than-expected quarterly revenue signaling electronic demand is holding up better than investors feared. we look at today's jobs report, the u.s. number and how the tech sector is faring in the numbers with many companies laying off employees. we will get to that in a moment. first, let's check on the markets. katie greifeld, quite a run to the nasdaq. katie: the s&p 500 down about .1%. tech fared better. your be outperformer was the chip stocks. -- your big outperformer was the chip stocks. rising nine points on the back of the blockbuster jobs report. chips for the outperformer on the day and the week. the index up 6.5%. most of the gains came yesterday. samsung reported a bigger than expected jump in revenue. that changed the mood music for the space in a good way, closing out with solid gains. it has been struggling. speaking of solid gains, let's en

innovation, money, and power collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang. emily: this is "bloomberg technology." coming up, twitter has a big week ahead, not just earnings, but the first hearing in twitterverse's musk is scheduled for tuesday -- twitter versus musk is scheduled for tuesday. amazon and meta are getting creative to save cash with plans to cut back on office expansion in new york. and we are chatting with anthony about the bitcoin downturn and his start up designed to train workers for a new generation. all of that enrollment but i want to get a look at the markets, tech leading the way. it was another down week over all of two key weeks of key earnings reports. ed ludlow has the latest. >> we are really bracing for this earnings period where we think the biggest tech companies are going to give us this lens into the global economy, the consumer. there's a lot of green on the screen, to see the s&p 500, the nasdaq, both up almost two percentage points. you see the philadelphia semiconductor index. sk hynix, a maker of memory chips, is pulling

innovation money and power collide, from silicon valley and beyond, this is bloomberg technology with emily chang

innovation, money, and power collide in silicon valley and beyond, this is bloomberg technology with emily chang. caroline: caroline: coming up in the next hour -- we will get the latest. we will get thewe will get the e ground. plus one of the most famous apps in the world is tiktok -- it's under pressure with the challenge of its >> the tech stocks we know our ultra rate since which brings me to high data stocks. we know that is a trade that has not been working but today it performed well because the likes of tesla, microsoft, google, they've all been taking a beating. is it enough to have have a turnaround for arc innovation given the flood we have seen in this market. so that we are going to keep an eye on. let's cut to the next slide which is not just all small tech. you sought in biotech as well. -- saw it in biotech as well. these are your biggest movers on the day, also your biggest index contributors on the day. do we see this again tomorrow. how much is a technical trade? i'm curious to see if this is a sustainable move. a great round up. tesla actually hired after a disappointing qua

emily: what needs to be done to make main change and not maintain the status quo?here is something to be said for being a bad actor in the system, and there is also something to be said for accepting the status quo. guest: we have gotten the bad actors out over time, in large part to books like yours, but there are a lot of not so great actors that remain. the question is how do you make it clear that you have to have a diverse investment team if you are a university endowment or a pension. you have to apply capital to diverse investors and back diverse founders. those are the three things that have to happen. emily: there was a lot of concern that women would backslide during the pandemic. we saw women were often the first to leave the workforce and take care of their families. are you concerned that will happen again in this current downturn? guest: you see this time and time again. it always happens. the funds that struggled to raise will be disproportionately women and people of color-lead. the companies that struggled to raise will be the same that when those

>> this is "bloomberg technology" with emily chang. ♪ caroline: i am caroline hyde in new york.etails on a report that elon musk's deal to buy twitter is in serious jeopardy, a report saying the team has stopped engaging in discussions around the deal. we will chat with eventbrite chairman kevin hart about the consumer demand of events as they make a big return post-pandemic. we chat with the major league soccer commissioner. taylor riggs is here to show how the nasdaq is doing a. taylor: is this "bloomberg's markets: the close"? some of the longest winning streaks we've had going back to march. we are getting some green on the screen. i think you mentioned the nasdaq 100. it was all about big tech, pushing forward. i want to change it up. it would not be a bloomberg technology show if we did not throw in some cerium, does going. -- some ethereum, dogecoin. caroline: thank you. let's get back to the recent breaking news. elon musk's deal to buy twitter is in serious jeopardy, according to "the washington post." reported by the washington post. ed ludlow is out there where elon m

innovation, money, and power collide in silicon valley and beyond, this is bloomberg technology with emily chang. >> this is bloomberg technology. it is no longer full steam ahead for silicon valley. we will look at how amazon and apple managed to win over the obstacles. plus, the chinese government tried to create a stealth tiktok account to promote propaganda in the west. the ftc is signaling about an effort to sue the company. first, what a day on the markets. what a week what a month. the stock market has had the best month since 2020. the nasdaq 100, apple posting one of the best months since 2009. big tech into these trillion dollar companies are back on top. tesla, we just threw it in there because it wouldn't be fun if we didn't mention tesla at least once a day. tesla is up 30% for the month. we will talk about energy later. the big technical levels we have seen trying to recruit -- recoup the big losses. go cross asset. big tech has been really boosted by yields declining 44 basis points on the month. that's really where you have technology get a lift. i do bitcoin just for you. >> tha

innovation, money, and power collide, silicon valley and leon, this is "bloomberg technology," with emily chang

this is "bloomberg technology" with emily chang.

in an interview with emily chang, tim cook talks about the headwind playing out in the third quarter. in the months of june in particular, around that june 18 sales time in china, they saw strength and they do see growth in revenue accelerating into the september quarter, the fiscal fourth-quarter, apart from and the services area. it was a mixed bag which shares around 3% after hours holding steady there. overall, pretty optimistic about what it's seeing. haidi: amazon, this is interesting. we were speaking earlier and he said this is a better indicator than warm up because there's still room to grow for online. what is the amazon result telling us about the economy and consumer? >> we were bracing. you can see how much shoulders have relaxed following those earnings because, it's interesting, prime day was on july 11, they just reported that what they showed was prime subscription rose. they beat on the top line and gave a strong outlook for the third quarter, which basically rubbish the concerns that the market had about the retail side, which was given to us by walmart and target,

it's more of a change in the mix and less of a complete slowdown. emilye story is not over, we will watch the amazon results coming out later this week. another story we are watching, russia says it will opt out of the international space station after 2024. russia is planning on focusing on building its own orbital outpost according to its new space chief. this coming amid tensions between russia and the west over the war in ukraine. russia says it will fulfill its obligations to others at the space station. and it says that the space station is set to be commissioned by crashing into the ocean by 2030 anyway. this is bloomberg. ♪ emily: welcome back. microsoft and alphabet, the first of the mega cap tech stocks to report results. ed ludlow is here with the top lines from the earnings calls. ed: microsoft missed on the top and bottom line. what's interesting is they said asia cloud was a mixed bag. 1% weaker than expected. they are still seeing big corporate deals. microsoft executives saying the number of big deals and asia have hit a record. they are c

the results of climate change. >> emily: david, the bottom line is that these governments feel abandonedfederal government. robert nettleton says of the end of the day the federal government is not doing its job and its local communities that need to come together with the solution. >> david: what gets me more than anything else is the inhumanity. you mention the 53 people that were killed, imagine opening a trailer truck and seeing 53 dead bodies. the trump administration was criticized by biden for being inhumane, and inhumane border crossing. if you get the designation of being the number one dangerous, lethal border crossing in the world, 1,238 migration deaths in 2021. and all that is just a number, and statistics are horrible in the way they dehumanize, but the inhumanity of this policy far exceeds any inhumanity from previous administrations. i mean, this has a record, just in terms of pure numbers, people who are suffering and dying as a result of these policies. >> emily: that's right, harris, 1.7 million encounters i know statistics are hard for us to appreciate but each one is

cover the primaries, how much time does this administration have left to do something to change the minds of voters? emilynot much time at all. keep in mind that a number of these voters -- there is a lot of early voting. the window the democrats have to change the narrative here is slipping away. i've talked with both who have said they are concerned about gas prices and the prices go up at the grocery store. there are other issues in the mix. so have -- those have remained at the top of the list. jonathan: thank you on the latest in washington. the story is unlikely to change next week according to forecasts. we get the cpi trend on wednesday. the estimates so far, the median is 8.8. morgan stanley, 8.8. those are the numbers from big names. they are looking at 9%. tom: people are worried about core inflation. the answer is were not living core inflation, we are living top line inflation. it's double-digit. let's be clear, you take 40 pieces like david rosen does, how many are above 8%. jonathan: i will remember that basis point from bank of america, for the lower income cohort, gas prices rose to 9.8 p