and keep in mind about half of etsy's active buyers still only make one purchase a year and etsy also said, quote, they are nowhere near saturation as the majority of their active buyers are still in the united states there was an interesting tidbit on this conference call that's going on right now etsy claims 10% of adult men in the united states and uk shopped on etsy at least once in the past 12 months i'm not sure about our panel, though >> we'll ask, christina. thank you. now bk, i know you have gone on there to buy a crocheted apron a couple of times in the past. >> that's right. >> but it's interesting to hear the guidance and how it's framed, in a world in which there are many more choices. christina mentioned having less disposable income, which is surprising because you think the consumer is in such good shape, can spend, spend, spend. and we're hearing from them there is less disposable income. >> we heard from a couple other companies as well. this is not necessarily that shocking when you think about the product etsy sales, it is purely discretionary. nobody needs a mack

but i think etsy has the best franchise. like it and it doesn't have the problem with big ticket purchases that wayfairdoes it certainly was a darling during the pandemic, went from 32 to 300 and back down to 90 now. but the strategy makes a lot of sense. they did have a sellers' strike because they tried to raise commissions. that caused some trouble but they beat eps. guidance was similarly horrible. they talked about the guidance that they gave for revenue was 10% below what the street had expected but the strategy makes sense, the franchise makes sense, and i think etsy, of all these names, has the most upside because they really have a plan for growth. >> can we pivot, scott, from these names to the market more broadly. as you watch the price action this afternoon, what are you thinking >> i'm thinking that the fed waited way too long. there were a lot of really smart people saying that they had kept rates too low for too long and they were all no, no, no, no, no if so many people realize ed thy can't time the stock mar

i know you love etsy. importantly, huge miss. romaine: i love it. do not buy etsy. [laughter] how about ebay and reunite it with paypal? tim: everything old is new again. romaine: hours of programming i just gave you. taylor: etsy second quarter revenue doesn't look good. adjusted margins way down. this is of course on the side where you could wonder about execution. tim: good point. i want to end on a sobering moment from the fed chair. he started by speaking directly to the american people, talking about the pain of inflation. that is something that affects the american people but when it comes to what the fed says, the average american is not paying attention. he clearly wants to get that message out. we are out of time. remain, are you ever going to come back from sunny california? romaine: no. you were out here. how did you get home so fast? where is carol? tim: she took the day off. romaine: ok. i might show up tomorrow. tim: enjoy the rest of your time. that will do it. we will see you tomorrow, same time, same place. taylor: coming up, big conversations stil

amazon sinking to its lowest level since 2020 there's wayfair, ebay, etsy, shopify. ebay and etsy among the worst performers on the s&p after both companies gave weaker-than-expected guidance. again, these stocks have been weak all year long shopify is now down 70%, mike, taking away a lot of the pandemic gains i guess the question from here is what settles these stocks if the fundamentals are turning weaker than expected >> well, i think in every case the question is -- and it's going to be different. what is built into shopify's valuation near the highs about the perpetual, very fast growth that was going to be there at these levels, i say who owns them, who needs to get liquidity. when are they going to be so low they are kind of ignored the other question as i mentioned earlier is what's going to happen in the real tech economy or what is happening there in terms of people choked on a ton of hot money that went into these businesses, private and public you built your business for continued, very fast growth. now you find yourself in a rough place. amazon the bigg

etsy and ebay underscoring the swoon in e-commerce names, etsy down 18%, ebay getting clip by 12%. both came in with weaker than expected guidance. e bay did beat on earnings but lowered its full-year forecast. etsy's outlook was less than what analysts had been fore forecasting. the company with its finger on the pulse of e-commerce sites is also the world's largest domain name registrar. the ceo of godaddy up next to tell us if small business, the consumer, the investor or all three are in danger of seeing the era of pandemic-driven e-commerce returns is over. we'll see. closing bell ringing in 44 minutes. dow jones industrials down 1,304 points. that is a few session low. we're watching every tick of it. "the claman countdown" is coming back in just a moment. don't move. ♪ we gotta tell people that liberty mutual customizes car insurance so you only pay for what you need, and we gotta do it fast. [limu emu squawks] woo! new personal record, limu! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪ your record label is taking off. but so is your sound engineer. yo

stock number two is etsy beating first quarter estimates, but second quarter is below the forecast etsyid not see the issues in the increase in transaction fees and stock number three is booking holdings first quarter results topping forecasts. it measures occupancy on any property more than doubles global travel trends point to a busy summer season number four, another travel winner tripadvisor. better than expected revenue and guidance and named a new ceo travel and leisure tripadvisor >>> still on deck for the show, e exclusive new findings in small business all of the details when we come back after this. >> announcer: today's big number $3 billion that's how much revenue online and retail sports betting could generate annually in california for gambling operators acco qualifiedo tbe on the november ballot what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating c

in ecommerce, etsy in dating, you have match. we think roku will still be the streaming leader for connected tvs. but again, hard name so, again, you did mention peloton. i think the company gets sold. right now, equity investors don't have the cash to move and take advantage of the present values the question is at what point does private equity come in? obviously twitter's union situation. there will be additional capital coming to the sector and it may not be from public equity investors. >> that's a great point. we'll leave it there >>> still ahead, netflix on pace for the second straight weekly loss disney is the worst dow stock and paramount has turned negative on the year what's the path forward for the streaming stocks plus adidas sinking to a new 52-week low after they expect the china lockdowns to affected sales for the rest of the year weal with hear from the ceo. and is as we head to break, here's a look at the dow heat map, with energy, apple and wal fwr green's doing pretty well but two out of three stocks are in th

. >> a couple of e-commerce stocks and that includes etsy up half a percent and ebay up almost 2%. ebay announcing it will become the secondary market of the funco toy brand and both of those off the lows of the session and as we mentioned now in positive territory and up over a half a percent. however, those stocks have not avoided the sell-off entirely and etsy is looking more broadly at the etfs that track online shopping they're still nfirmly in negatie territory and the amplify etf also down nearly 6% and off more than 25% in the past four weeks as the market volatility continues. tyler, back over to you. coming up shares of tesla down 20% over the past month. so is the stock on the verge of breaking down, and further breaking out we'll tell you what the charts say, plus inflation deceleration copper prices down 1.5% and that's just one of the reasons why our guest later this hour says inflation can fall from current levels potentially quite quickly. shares plummet to a new low as ford unloads 8 million of those shares details on what's ahead for the start-up which is dragging

etsy is down 17% shopify is down 15%. joining me now is scott mushkin. scott, thanks for being here. >> thanks for having me. >> you have a buy on walmart and target how do they fend off this is true if consumers are not spending as much on what they don't need walmart has 50% revenue on the grocery business if people are not buying other stuff besides groceries, how does walmart continue? >> it is a natural switch back to services and getting out there. that's the natural thing we see. you get a little bit of that of the scene. if you look at what is going on with inflation, it is crazy. we have been talking about this with our buy side clients and consulting business. there is a lot of fear of food annd utilities and rent households under $52,000 you see the basics go up you are seeing some of the basic things go up 20% this is putting enormous amount of strain on the households. it is putting fear into people like walmart or dollar general even some of the supermarket guys i talked to volumes have turned negative you mentioned discretionary. >> i want

etsy is also down in a big way.did beat in the latest quarter but it was the forward guidance missing those revenue expectations, macro headwinds, changes of consumers getting back out there. similar story for ebay. i will leave you with one we were to the upside, albemarle, lithiumminer. analysts are very bullish about this stock. demand for ev's sheep going higher and higher. . guy: thank you very much. let's talk about one individual stock within these markets. gxo is tracking around 4% lower. the company has raised its full-year guidance, reported first-quarter revenue raised 40% from a year earlier, raised its revenue guidance. sounds like a pretty positive picture. yet, the stock, as you can see, over two days only down by 0.1%. let's talk to the gxo chief investment officer mark manduca. these numbers look pretty strong, your guidance feels pretty strong as well. what is the market not getting about the gxo story? mark: i think your point about high-growth is well-made. the reality is we have exited a period

despite that hideous decline, etsy still sells for 36 times earnings and is it's earnings are expectedou're trying to figure out how much you should pay for the stock in this environment, that's not enticing to the big institutional money managers they say it's impossible to figure out and i don't buy stocks unless they have good dividends it's a no-man's land and in a horrible mean market, when you're going to get shot to pieces, there's e bay, similar story. we learned the most actively bought and sold items are trading cars that's quintessential lockdown stuff. might as well try to make money on trader cards. as we get further away from the worst stage of the pandemic, we know zoom, video and peloton were pandemic plays. what we didn't realize is none of them took their covid money and used it to dump something big. the most alarm rg the streaming lays the fact netflix hit a wall, shows you board people stuck at home gravitated to anything online and that's no longer the case. i think netflix is a casualty of booking holdings told us last night. they're seeing an acceleration of tra

the outlook for etsy, pulling back on discretion a spending when looking at the possibility of a recession. amazon is not just e-commerce business but also media business at a web service business which gets people excited and is not recognized by the market. jack: natural gas, 14 year high, texas crude way over $100 a barrel. you say it is not too late to invest in energy. tell me about that. andrew: energy stocks are the best performers in the market, the companies are gushing cash and evaluations are reasonable considering the outlook. if we get a repeat of the inflationary 70s we could have a long-running energy. jack: what do you like? jack: andrew: ceo warren buffett, the restaurant energy giant in the world and shale, the cheapest of the supermajors of the world trading from 6 times earnings compared to 11 for chevron. i highlight occidental petroleum, another buffett purchase trading 7 times earnings and coattara, energy production company that is gushing profits and paying big dividends to shareholders, dividend yields almost 8%. jack: all the shale chiefs where they got religion

in the e-tailer, retailer community, etsy, wayfair, shopify, ebay. a reflection of consumer sentiment going forward. how much they're inclined to buy. disappointing guidance out of the likes of shopify and etsy, weighing on those issues, anywhere from two to 5%. actually they're coming off some of the worst levels of the day. but that does not apply to everybody. we have the compound fear right now that we've got, you know a spike in some covid related cases. certainly in china, you heard about, but in the united states in general. nothing worrisome. nothing hospitalizations. certainly nothing worrisome, on the depth side. again in new york, concern enough right now that they are looking at the possibility of renewed restrictions. so when you hear that sort of stuff, the better part of valor is sell, sell into that. let me show you what is also going on the new normally safe haven of treasury securities, which is certainly not enjoying that today. 10-year backs up, continues backing up now a little more than 3.08%. represents a more than-year high in

e-commerce marketplace this morning, disappointing guidance there sending shares of shopify, wayfair, etsy, ebay all sharply lower. a sad face let's start with the markets after yesterday's fed-fueled rally and 50 basis point interest rate hike at fed chairman powell's news conference he was asked for a 75-point basis points hike is on the table. >> 75 basis point is not something the committee is actively considering what we are doing is we raised 50 basis points today and we've said that, again, assuming that economic and financial conditions evolve in ways that are consistent with their expectations, there's a broad sense on the committee that additional 50 basis increases should be on -- 50 basis points should be on the table for the next couple of meetings. >> that sparked a rally for sure >> not sure if there's an algorithm. say 75, buy the market but remember the market was really teetering at that very moment when our own steve asked that question. and it was almost as if there was something here or located in norad which said no 75 buy and the market does work like that because th

but honestly, etsy dylan is on the program to prospects and yet these are ultra right wing rallies in modern germany. they do not directly associate themselves with the ideas of the 3rd, right. they are fighting to make jobs available to germans rather than to immigrants from other countries. jimmy has looked through this before and what these slogans lead to is well known. but for alter right wing supporters. the germany of the $900.00 thirty's is a model of order instability. oh, this is another example of a history lesson. some people fail to learn this time in ukraine, the slogan, glory, to ukraine, glory to the heroes herd. and keith is a carbon copy of the greeting used by ukranian nationalists, who collaborated with hitler's forces during the war. but if you are more, it's eludes, you megabits, you'll only talk debris of scholarly deal. it's, i mean nymphs are you not the dos or was room little girl for you? you, why doesn't you speak up for a few csm wilker for choose through share fuse on them. yes, ma'am. a silly in early 2014, during the so called euro my down rally and key

the growth, the main culprit ebay and etsy, outweighing the q1 beat. a cautious outlook -- these results come just after amazon, we've been talking about this slowest growth in two decades. that stock in the yesterday this morning. if you're trying to figure out some of these other smaller names which are perhaps the future amazons, which is the ciscos which may not exist at all. what kodo you think >> i personally own some shopify, the three major head winds, labor shortages, inflation risk, and interest rates, those are three major head winds facing all these companies, not to mention supply chain or ukraine war crushers. amazon faces all of these risks. one interesting thing about shopify is they're not as exposed to labor unions the way amazon is. this might be a moment for shopify to come out ahead and say, look, yes, we share some of this inflation and macro risk, but actually we can build in rebel alliance they made a smart acquisition of this company deliver in the logistics and fulfillment space. there's making a run at amazon shopify could co

. >> matt, what about online retail etsy is down again another 8%.n slammed so much even amazon lose ago bulk of its pandemic gains what happens to the stocks, as people have shifted back to in store, and there are questions just how much growth lies ahead. >> well, one of the things we certainly saw over the course of the last year, in 2021 in particular was growth in wrong line sales was matched by growth in stores. it was divided pretty evenly between the online side and the bricks-and-mortar side so certainly the companies that have gotten much more sophisticated about the way they combine those services, how they use the stores to create engagement opportunities, how they use online to drive foot traffic, vice versa. those companies, you know, we have thousands of members, and every big name is a member i would say in serum of those winners and loser, the sophisticated operators that move seamlessly, i think they have an opportunity. >> thank you, we'll left it there. we are near session lows, but these stocks continues to shine brightly despite

it is not the traditional retailers being hit today, is extended to some of the e-commerce stocks, etsyair, ads -- ebay. supply chain issues, inflation, on a year-to-date races getting hit even -- basis getting hit even harder. when we talk about these e-commerce stocks, these were the pandemic darlings, that started to fall when you got the reopening. stay home began to suffer as people got back out there and started shopping in brick-and-mortar. when you look at the selected e-commerce index it has given up half of the peak of the pandemic gains. when we talk about shoppers changing is not just how they shop, but also what they have been shopping on. consumer discretionary really getting hit. those stocks down in the past month and a big way, key part is inflation, wages are rising, but not keeping pace, a lot of the optional spending dwindling particularly as food and fuel prices have been rising in a big way. that is a key thing we are seeing retail earnings. ed: thank you very much, let's stick with the market selloff, lots of big-name tech companies feeling the burn of higher inte

funds and can't just send supplies and ironically right before the war started ukrainian artist on etsyr our son and i contacted her and she got right back to me and thought art would be a great idea and turns out the sister and the niece who's 9 years old fled to poland so i said how many children are there in that area? it was 54. so we had the ages of 7 months to 13 years old. >> wow. >> so we chose different items for each of the age groups that were appropriate. >> what was that like when you worked so hard on the project to help the kids, the bags finally arrive in poland and you see the videos of the kids opening up the bags? what did that make you feel? >> feeled like happy. >> you felt happy? >> uh-huh. >> megan, what was that like for you? >> i felt very proud of griffin but also i -- it's pretty amazing when you have something in the living room and then you see it in the child's hands and to see how happy they are. that was -- it went to show you how the whole mission was one child reaching out to another child and that's what she did. and so it's quite special and shows tha

amazon with the slowest sales growth rate in decades e-bay is projecting a slowdown etsy is projectings walmart and target and home depot and lowe's invested in ecommerce and other operations could any of them pick up online sales share? decades high inflation could push more shoppers to more value-oriented retail options from walmartto target and tjx and ross stores. poshmark put up disappointing forecasts and in times of inflation, retail would see an in influx sam's club might entice co consumers to fill up carts and tanks. frank, the comments from the fed will be key this week. as a result, the direction of the economy. back to you. >> courtney reagan, we appreciate it. >>> on deck on "worldwide exchange." stocks with pressure to kickoff the trading week tiffany mcghee is laying out stocks she has opportunity in. >>> in may, we are celebrating asian american and pacific islander heritage month. here is edwardlee. >> a big part of being asian american is finding allyship with other groups. we can't do it alone if you look at the black community, latino community, other people of col

did this thing last week with this sharp reaction to amazon, the concern there, shop five, wayfair, etsy are worse today, fit percent, 6% -- 50%, 60%, inflation is today, the concern about an -- recession where do we go from there? let's think about housing, does willow's -- zillow is interesting, i go to all the time, they have not such a great outlook for the spring quarter, a little faster than the market was expecting, the chart says it all, the reactions to their earnings report, down 13% at one point in friday's session. closing down about 4%, the outlook of higher rates from the feds, the higher mortgage rates, should we keep an eye on this tech company? what about hike -- housing supply? emily: let's stay on swallow -- zillow, the cofounder of 75 and sunny, a venture firm based in l.a., i want your view on the big market picture, let's start with the housing market and how all these trends, rising inflation, rising rates, how will it bear down on the housing market? >> what is driving home price appreciation is limited supply. for most decades starting in the 60's we had 20 milli

we are looking for 3.75 by the end of next year, 2.5 etsy upper end of the fed's target rate at the endis year. 3.75 toward the end of next year . guy: does the fed need to retake the narrative back from the markets? at the moment it seems to be chasing the markets. we talked about 25, the market had already priced in 25. we talked about 50, the market is there. we talk about 75, the market is already pricing that in for the next meeting be on this one. how does the fed get in front of the market? holger: to some extent you could say that the fed should not be unhappy if it's decisions are no longer a surprise. of course, they have been falgged in advance, but you are right. the fed is probably paying too much attention to markets, should communicate more clearly, first, that it is behind the curve. they should sort of admit that they made a mistake by not starting the stimulus unwind much earlier. and they should give us a clear indication of what their objectives are, especially how far they expect to go. we have the dot plots, but there's a lot of back-and-forth. it would be good if

it's fallen to somewhere in the top 15 still a relatively -- >> when you look at etsy, which did notave good things to say, and you look at amazon -- >> look at under armour this morning, or even wayfair so come degree. >> i'm glad you mentioned under armour under armour did what jay powell needs to hear, too much inventory, canceling orders. you need to see the housing stocks, those companies saying, we are not building anymore homes right now because rates went too high. that's when jay powell wins. but the fact is, is that when he put no 75, he made it so we're not cooling it fast enough and if we don't cool it fast enough, we're going to have runaway inflation. >> we're going to get half a dozen fed speakers today bullard is late tonight. is he the key, given his reputation >> he's doing it again remember when he did that friday night thing on xm radio. i got so mad you know what, he's best in show >> bullard >> yeah. >> we'll see what he says at 7:15 >> i might disagree with him he's really smart and jay has to listen to bullard. jay would never have taken the 75 off the table h

and did walmart pick up any of the online sales share that may have been left on the table from ebay,etsywhen the results were fairly disappointing? and if anyone can offer nice prasing power in an inflationary environment it's walmart even though they are seeing conversion down and pricing higher >> interesting matt, especially given the indigestion amazon's been having in the staffing up labor wise and logistics effort does walmart look good because it already had a network and physical locations it doesn't have the same problems >> well, it looks good to a certain degree and they've made such -- they've done a great job developing theron line business overb the last several years it really has to be a core holding in anybody's portfolio and on the positive side of things is inflation should be something that helps them. if it hurts the margins, should hurt the market share. and people of a cert issen level of income look to save money going to walmart may help them increase their market share. i mean, this is going to be a very important week for the retailers. especially the bulls are

i'm looking at etsy. i'm looking at wayfair and ebay.f those were down and suffer from a lot of the same problems, supply chain issues, inflation. those are on a year-to-date basis getting hit even higher than the likes of walmart and target. you have to remember we talk about the e-commerce spots. these are actually your pandemic darlings, but that started to fall when we got the reopening. that's the stay-at-home and began to suffer as people got back out and started shopping back in brick-and-mortar. if you look at the e-commerce index, it actually given up about half of the peak of the pandemic gains. and of course, we talk about shoppers changing, it's not just how they shop, but what they have been shopping on. we see that consumer discretionary really getting hit. those stocks down in the past month and a big way. a key part of that is of course inflation. raises -- wages are rising. we see optional spending dwindling, it's kicking as food and fuel prices have been rising in a big way. that is a big thing we have seen in some of t

farfetch, pfeifer and doordash, chewy and etsy are firmly in positive territory today after falling moreyesterday's sell-off two of etfs that attract those names and those tickers would be ibuy as well as onln and we'll see if today is a step in the right direction or a pause in the selling. tyler, over to you. >> kristina, thank you very much the dow transports extending their slide down 6% for the week and rising fuel costs and slowing consumer demand and they're the major concerns here, but there is a school of thought that those fears are overblown frank holland has a look at the freight fears. >> you can see that there are a lot of investors out there that are believing that those fears are overblown, as well and we're looking at old dominion freight line up 8% and over to forward air up over 2% and will they help companies that put their freight in different ways as opposed to just point a to point b trucking and old dominion. it's the air lodgistics and they help people adjust their supply chain and something different from point a and point b we were nervous about it because the

etsy is struggling to find it old self-. and same thing for the fin tech like square, affirm. don't look at affirm not ma matter what you do. doon e don't look at affirm. even though there is a 71% drop in spac to begin 2022, the new deals sopped up a lot of cap thal is being drowned in the toast and lemonades and that is not toast, except toast is toast. but that is not toast and that is not lemonade. those are companies. and unity software which i like long-term road blocks and i like them too. it doesn't matter. just ipo road kill plain and simple some are genuinely good companies but their stocks are toxic. those slay the bull. no we wished the fed has stopped but it had to be the s.e.c. and the brokers and they are never did it now anyone who watched me this morning knows that i'm sick and tired of the critics who keep trying to be little or humiliate jay powell who will be on tv tomorrow how he did more to save us from a pandemic induced recession powell should have known omicron wouldn't require a lockdown. tell to that communist china but jay powell measures his words.

chewy, about a percent lower, 74% off the 52 week high shopify, wayfair, down over 6% etsy down overlogy stocks have come under pressure. you have the usual reasons, persistent worries on inflation and rising rates covid lockdown adding more pressure, a wave of job cuts hitting ten current and ali baba and jd.com and pinduoduo some of the biggest drags. >>> tech has one of the most volatile parts of the market more to invest on the sector, join me for another special cnbc report, anchoring tonight, 6:00 p.m. eastern for more on that. tech check is back in a moment another crazy day? of course it is—you're a cio in 2022. so what's on the agenda? morning security briefing—make that two. share that link. send that contract. see what's trending. check the traffic on your network, in real time, with the next generation in global secure networking from comcast business. lunch? -sure. you've got time. onboard 37 new people, with 74 new devices. does anybody have any questions? and just as many questions. shut down a storm of ddos attacks. protect headquarters and the cloud. with all your da

etsy jumping 13% after hitting a new 52-week low earlier in the session.rmour closing up 6% in the green. best buy, advanced auto parts locking in pretty solid gains amidst this retail rally karen, i thought tapestry was interesting. coach did really well in terms of sales kate spade also double-digit growth. >> kate spade was up i think 19. it wasn't a blowout quarter, but it was just fine or a little better than fine north america was particularly strong, so that's good i think there was a lot of relief there and to me, i don't own tapestry but i do own capri, a lot of north american exposure there. they have rallied, i don't know, 8 or 9% today. still incredibly cheap i think they'll probably do a buy-back as well the only negative thing about capri is they have a little more european exposure than tapestry does i've got to imagine in this current environment, europe isn't as strong but it bodes well for some other retailers that have been left for dead remember, a lot of them have really good balance sheets so, you know, that's something that i take co

you saw a lot of stocks like netflix go down or those e-commerce companies like amazon, etsy, ebay.es all the time. they are getting out and about again. anytime there is a huge transition like this, there is a lot of transitions going on at once. it raises the risk of a recession. it raises the risk that something could go on. it doesn't mean it could go wrong but that is what we are seeing. there is a like to be more of a role in this. from a big picture perspective, the dow is down 10% from its high, the snp is down by 13% of highs. that is known as a course correction. people are taking a breather. we are reassessing where we are. you really start to get nervous when you are down 20%. that is when it is a bear market. that is when investors are thinking that a recession is around the corner. >> thank you for clarifying questions and those details. let me ask you about jobs. the u.s. added 428,000 of them in april. it is the 12th straight month that they have added over 400,000 jobs. the unemployment rate stands at 3.6%. that is barely above the lowest level in a half century. wi

only other choice heavily in debt like dave and buster's or the airlines or company like etsy.. average consumer at tesla has household income of $146,000. they can get through the recession. what do they get? shorter wait time on tesla. average apple owner is 080,000-dollar average household income, walmart, 56-k. these buyers get hit. not tesla buyers. inexpensive growth and on top of that the third reason, margin growth happening on top of this growth. phenomenal play. charles: so you mentioned apple. i did also see where saying must break down here. this is not where you buy on the dip, right? >> i actually sold it at 169. i sold it in a position i had for 12 years. i was sad to see apple go but i think we'll see the hit in consumer discretionary. obviously everybody is already saying that. we've been saying this since january. i think apple is the last holdout. the concern i had from last earnings call. tim cook was asked three times, so, let's talk about supply, let's talk about demand. every time he got asked about demand, three times he completely avoided the question a

align systems pummelled etsy and z tech. >> i don't stay with losers very long we mentioned before that was anticipation of that. i'm equally weighted i rebalance quarterly, so i could be far more tactical, and that's exactly what i'm doing. just look at the overall sector exposure right now i came into 2022 with a combined exposure between technology and communication services at 33%. now i'm sitting at 21.5% other competing strategies can't do that because they're rebalancing twice a year, so i feel really good about what was liquidated from the portfolio. i feel really good about what we added to the portfolio >> let's go through a little of that so you bought apple just north of 157 you bought amazon again at 2485. let's start there. >> i could be more tactical, sold at the end of january, apple at170. nowapple pulls back. we're able to reenter the position at 157. that's based on a strong momentum factor for apple over the previous quarter amazon down 27% from where we sold it on july 30th at 3327 believe it or not, amazon has actually improved on the quality factor in terms of its

shows public companies also seem to be making strides to help women thrive in their own workplaces etsy paid parental leave. >> the more that company leaders really understand the challenges, the easier it will be to make changes to help everybody for the best >> leslie says she hopes moremotors will be able to bounce back from whatever their circumstance may be. for the news, i'm andrea day >> well, four astronauts return to earth today after six months aboard the international space station. and here's the moment the spacex crew 3 dragon capsule splashed down landed this morning in the gulf of mexico off tampa before 1:00 in the morning the crew of four included three nasa astronauts and one member of the european space agency spacex has now sent 26 people to orbit in les than two years. a different launch leading to an unexpected cite in the skies not a ufo, you're looking at what they call a space jellyfish. it can happen in a rocket launch around dawn or tdusk as it reaches high altitude, the sun's rays light up the plumes of gas in the rocket's trail thus space jellyfish >> you ne

etsy down 17%, e-bay 13% and netflix and tesla down 7% and 8% remember how much we've talked about how important tesla is to the market because of all of options and derivatives tied to its equity now all of this happening as rates roared higher. the ten-year yield above 3% and now most mortgages are above 5.2% that is what happened today. question now is where do we go from here. and last night, the traders on the desk were not buying the rally. but let's talk about today guy, there is a lot of blame going around n. your mind, is there one reason why we're seeing today's big swing >> well, think people come to the conclusion and realize is that the fed is no longer underwriting the market number one. the unwind of the balance sheet will not be particularly pleasant and it is figuring out what the right multiple. and we haven't run from this we've been steadfast a 17 multiple in this environment for the s&p is not unreasonable $220 worth of earnings is not unreasonable and that gets into the 3750 level that i've been putting out there for a while. i think we get there i don't think tha

covid now so some of those big pandemic stocks like zoom and netflix and peloton have been down and etsyy also had earnings. so they're down 15 and 8% respectively. but the idea here is that there's a concern about consumer spending and inflation consumer confidence. so when you saw the rally yesterday, that was built upon the fact that fed chair powell said we're not going to raise interest rates by three quarters of a point. we're going to stick with half a point going forward. investors liked that then woke up this morning thinking, okay, there's still a lot of questions about how people are going to be spending and that's being reflected in some of these earnings reports. amazon and meta are down. meta, the parent company of facebook. down by 7%-ish. apple, alphabet, microsoft, all down by about 7%. so a really rough day as the market is digesting what does inflation look like as we go into this summer. >> live for us with that. thank you. >>> still ahead, the new office opening up the department of justice and what it means in the life or death fight for environmental justice. but f

i'm going to sing here. [ beeping a post on facebook marketplace facebook marketplace that's like an etsymarketplace thank you, all right here we go a post on facebook marketplace ♪ ♪ hello i'm selling a pair ♪ ♪ of women's mannequin legs for $45 ♪ ♪ and just to be clea this is not a ♪ ♪ full mannequi just the legs ♪ ♪ i got them from jc penney that was closing dow from closing down ♪ [ cheers and applause >> yeah. >> jimmy: even with auto tune, it sounded bad okay last song, let's start the generator. here we go [ beeping whenever you're ready. instructions on how to boil a hot dog in the microwave >> all right >> jimmy: this should be good. okay >> this should be good >> jimmy: instructions on how to boil a hot dog in a a microwave. [ cheers and applause ♪ ♪ step on gently cut your hot dog ♪ ♪ lengthwise with a knife to prevent it from ♪ ♪ exploding in the microwav step two ♪ ♪ put your hot dog in a microwave safe bowl ♪ ♪ full of sink wate step three ♪ ♪ cook them for at leas 15 seconds ♪ ♪ step four now you can enjoy your ♪ ♪ hot dog with a condiment of your choosing yeah ♪ [ cheers a

e bay is expecting a revenue slowdown, etsy also below expectations but competitors, walmart, target,ted heavily in e-commerce, did any or could any of them pick up online sales share from these e-commerce heavy weights. decades high inflation could be pushing more shoppers to value oriented retail options from walmart to target to tjx and ross stores. although secondhand thredup and poshmark put up disappointing foeshss, at times of inflation, you'd think resale would see an influx of deal seekers doesn't seem to be happening right now. lower prices for gasoline at walmart sams clubs might enticee consumers if fill their tanks and trunks sam's clubs comparable forecasts are expected to grow more than walmart's. as we get the results, and more importantly the commentary from execs. >> absolutely. courtney, thank you so much. you mentioned amazon as we head to break, take a look at shares of the company since going public 25 years ago yesterday. it is up, look at that some huge amount, thousands percent, you can see that under performance as of late stay with us, we're backn st mont ij

shares of etsy are falling after earnings met expectations. guidance weaker than expected.utives blaming the guidance on tough comps and inflation and the war in ukraine becky. >>> thanks, andrew cnbc and survey monkey out with a small business survey. kate rogers breaks it down kate >> reporter: good morning. small business ownersconfident,e sure a recession is on the way the index for q2 found 8 in 10 owners expect a recession in 2022 6% say the economy is excellent. 44% say it is poor a third say it is fair there is a political divide with more republicans than democrats are confident things will turn for the worse. as for the top issue on main street inflation. a key issue for nearly 4 in 10 small business owners. fewer are raising prices 17% say now is a good time for businesses to raise prices with 1/3 saying it is a bad time to hike. likely a time to lose customers when everyone is paying more for everything confidence is at an all-time low. we will have more on the small business playbook event this afternoon. tune in for that back to you. >>> kate, thank you very m

etsy implementing a 30% increase in seller's transaction fee last month, causing a seller strike.he stock down 54% year-to-date. and now this 11 and a quarter percent move this morning. rest of the market also of pulling back after a huge rally yesterday after the federal reserve chair jay powell's announcement that the fed will raise interest rates by half a point. we were expecting this. that is was we got. and the dow industrials shot higher on the expectation that the fed believes it can have a soft landing here, take interest rates higher but not take the u.s. into a he recession. joining us now, ted oakley. also joining the conversation all morning long is fox business' dagen mcdowell and strategic wealth had partners president and ceo, mark tepper. great to see everybody. thank you for being here. we are talking about the biggest rate hike in more had than two decades. your reaction from what we heard from the fed yesterday? >> well, we think, maria, that they are raising into really what is a slowing economy. we're starting to see a lot of changes on a number of things. so

you've got etsy down over 16% just today alone on pace for its worst day since november 2020. paypal down about 7% jd.com down 6% it appears markets are still in the early stages of deciding how much damage interest rates will do for economic and earnings growth, kelly. >> anything jump out at you, kristina i mean, given the scope and breadth of the declines that you've mentioned >> one of the topics i want to look into more is whether we're going to go forward and it's going to be mid-cap tech that is going to sustain this market no longer big tech that we've relied on so heavily for the past decade. >> yeah, exactly kristina, thank you so much. we've actually heard a number of different investors saying, as we joked the other day, if you haven't heard of it it's a safer place to invest. still ahead the rising rates trade. a closer look at the stocks that should get a lift from higher interest rates are they, though we have the names next ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that give

they cut numbers on let's see e-commerce, ebay, etsy, yelp, carvana cut numbers, airbnb booking, expediarip cut numbers on what they call the macro storm. >> i disagree with that. they're going to do more than a billion dollars cash flow. i'm not going against that i like some of the other calls >> you've seen the savings rates at 4.4. >> i know. >> uk credit card usage, soared this month since '05 we're going to start to see that here. >> we've got commercial -- we have mortgages that the default rate in some parts of the comm economy i feel things -- one of the reasons i'm bullish. the banks are under valued if you have a situation where you know rates are going to go up 50, 50, 50. you have delinquencies that move from jpmorgan is going to be reflected in other stocks. that was good, jpmorgan was doing well after that talk by jamie dimon. >> after the analyst day. >> we still got a lot of people talking about recession. >> no, but i'm not -- i'm talking about if we have recession, gentle and mild. kind of like -- >> gentle and mild. >> like dove. >> dove, yes >> not a unilever product