apparently petsmart had to build a lot of that company while they owned it since then the gamestop was a lightning in the bottle mania that grew up out of almost never. >> and the company didn't turn around and bed, bath & beyond went bankrupt. >> there is a way he monetizes the kind of afterknow of the gamestop experience, but it doesn't necessarily mean anything is going to happen as a result >> it is a thin -- it's a small board, a thin board and the former bed bath ceo is on that board so making interesting point. >> there may well be moves to make >> the family owns 30%. >> they wanted to take it private years ago. >> they tried. mike, thank you. this will be fun to watch. mike santoli. >>> up next the pulse of the economy and consumer lending when we are joined by the ceo of pnc bank be right back. you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. >>> as we head into th

susan: in gamestop. ashley: covered a ton of ground, as always, susan.ciate that. >>> coming up, health concerns are mounting in east palestine, ohio, after a train derailment released toxic chemicals. listen to this. >> the evacuation order was lifted too early, prematurely, and if you don't have to go back yet, try to stay where you are. >> i was here five minutes, and i have a headache right now. ashley: doesn't sound good. republican lawmakers demanding answers from transportation secretary pete buttigieg who has remained silent. ohio congressman mike turner will be here to talk about that. >>> politico reports the ceo of anti-woke inc., vivek ramaswamy, has his eye on the white house. well, does vivek plan to run? guess what, i'm going to ask him, he's here. >>> the white house is touting progress being made by the inflation reduction act, but inflation has jumped 6.4% many just the past 12 the months. larry kudlow will be here to sound off on the biden economy right after this. ♪ -- on the highway to hell, on the highway to hell. ♪ highway to hell,

we don't know how big the stake is, but he's a gamestop meme lord, and he's back.e any financials, we don't know how big the stake is, but this is the second attempt to turn around a failing retailer. remember he bought a 9% stake in bed bath & beyond last year. >>? sold out in the summer. they did surge when he initially bought in. same thing for nordstrom right now, and they have problems right now. inventory grunt, lackluster holiday sales, lower foot traffic, cutting guidance. stuart: he couldn't turn around bed bath & beyond -- susan: no. stuart: the question can he turn around nordstrom. susan: a celebration of the markets is that retail investing has now surpassed those gamestop meme lord days of early 2021. so you see this stock rally that we've seen has ignited interest again and people back into the markets which, to me, is encouraging. remember after the 2001 bubble burst or the 2000 dot.com bubble burst? they didn't come back for 20 years. stuart: that is true. show me ford, please. i think they had -- oh, down 10%. ugly report? susan: yeah, terrible. e

. >>> and gamestop and bbby and now aaron cohen has a new share surging. >>> and adani shares lose another $30 billion in overnight trading. the latest in a moment later on, bracing for beyonce. how ticketmaster is looking to avoid the taylor swift debacle it is friday, february 3rd you are watching "worldwide exchange" here on cnbc >>> good morning i'm frank holland in for brian sullivan thanks for starting your friday with us. let's kick off the stock futures. red across the board the dow is opening up 100 points lower. the story is the nasdaq. it can open up 1.5% lower. this is a reverse from yesterday. shooting up 3.5% this on the heels of the massive pop in meta shares and best single day gain in a decade. you see the move right now the jump right here. big day for meta a lot of people looking at the stock and making money down in the pre-market right now. not just tech on the tear. tr transports, trucking and planes. up 8% this week. on pace for the big week from march last year. jetblue, old dominion leading the charge big moves for the stocks double digit moves fedex with the 12% r

. >>> and gamestop and bbby and now aaron cohen has a new shar

appears to be on wall street a survey shows retail traders are back in full force this time it is not gamestopnd hurtz and amc on the shopping list joining me now is caleb silver what shift are you seeing? >> maybe the bulls are running too early. when you look at the aai survey, the bullish since the last november when you look at our survey, 41% are ready to buy the dip not fully ready to go all in, but looking for opportunities. when you look at the survey, cash levels are dropping you see a little bit more of people ready to jump in. look at the options market, contessa one of the biggest days ever for call options last week betting stocks are going higher in a short period of time. we saw the zero dte options. days to even options the bets the stocks will rise in a given day. a lot of people ready to go just as the markets are turned. >> are there specific stocks that are top searches? >> the biggest ones. apple and tesla are popular. amazon is popular as well. you are seeing a lot of investors piling in stocks that did hoarrible zillow and twilio. three month highs in the past three mont

the new gamestop >>> right now, back to the broader markets and investors with the cause for concern and what it is all about which is the federal reserve. raphael bostic highlighting the jobs numbers central bank may have to raise rates more to try to cool inflation is what he said. this comes after jay powell will speak this afternoon that could be a market mover joining us to talk about it is bill stone, chief investment officer, of the glenvue trust. you will not say selling everything and invest in bbby. that is not what you are going to say what are you advising clients to do after what was a red hot start to the year for stocks >> i think stay the course be mindful that we may not be through the volatility we certainly, you know, here is where it gets difficult. the payroll numbers certainly changed my math on bringing down the odds of recession. it didn't change the i still think it will happen thought, but it makes me less sure of that call. you have a lot of the growth ier stocks re-priced a bit the move in the s&p and higher on the growth side of the equation it is unclear

. >>> plus meme names back gamestop, amc. to-date games. bed bath, even sign of a market at least in the near term. we have more on that coming up. i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. >>> welcome back to "power lunch," everybody. drill down on a company that has a unique view into the economy right now. cnh, industrial company of agriculture and construction equipment. stock down 9% today despite earnings beat but rallied 30% the past three mosnths allegation collusive on "power lunch," former ceo of posilaris. welcome. >> thanks for having me on. >> any market correction you

gamestop, up 6.5%. carvana in some financial problem down the line, up 30% today. maybe a short squeeze there. bitcoin up between 1.5 to 3% so, again, a big part of that story has to be meta platforms the earnings results coming in, the big stock buyback program. mark zuckerberg more focused on certain things all of that driving a 26% rise in meta platform shares. remember, it lost 40% of its value over the year, but that trade playing out big in today's session. we'll see if that carries over into other parts of the tech trade later on today >> thank you, dom. facebook or meta telling us things aren't as bad as feared, or mark zuckerberg is getting better at changing the narrative for the naysayers. let's get into the next earnings tonight, with the action story and the trade in earnings exchange we'll start with apple they are coming off its worst year since 2008 with a 27% drop. shares are higher today, up around 150 again, and they have risen after tree of the last four reports steve kovak is live with the story on apple and kim forest is ceo of boca capital pa

meme stocks are back, retail volumes are 25% of the market even higher than during the gamestop meme21 and options have been their main tool so they have been pushing up the likes of carvana which has tripled so far this year, that troubled online reseller and coinbase has so far doubled in 2023 it's only six weeks in and finally this is a story that caught a lot of people's attention. beyonce gets a lot of concert tickets. she can't seem to sell a lot of athletic gear so the adidas line called ivy park , not selling that well according to the "wall street journal" and sales were down significantly, came in very short of the estimates so adidas expected to sell 250 million. her ivy park line only sold 50 million last year, and adidas pays beyonce $20 million a year plus commissions for that ivy park line, and it's kind of surprising given how well kanye 's sold. that was multi-billion dollar in sales and if you think you have like a huge celebrity on hand, that could push merchandise, not always the case. ashley: not always the case. that's really interesting. susan, thank you very m

the retailer the latest for cohen following his interest in bed, bath and beyond and gamestop, of courseg plans in motion following nordstrom's lackluster quarter nordstrom responding in a statement while mr. cohen hasn't sought any discussions with us in several years we are hope to hearing his views as we do with all shareholders for now retail investors willing to follow him into this name it's notable when we heard about his stake in alibaba, though we don't know the size of it, the stock didn't move on that. perhaps investors think he has a better chance at making some change here. >> i think, jon, the street felt a bit confused this morning. i know bemo said we are not ambitious enough to opine on cohen's aspirations. a short-term positive. >> short term at least you know who else has a sizable stake in nordstrom, the nordstrom family they have 30%. that's not going to be easy to deal with, carl. >> indeed. guys, we've been through a lot the last few sessions between the mega cap tech and the fed and the jobs number today. speaking of retail, those results are going to start to pou

. >> i said it was a rake market, and another person said they rigged gamestop.i had to talk people out of crypto by saying look, it's just a manipulated market most people still wanted to own stocks, but there are a lot of crypto maniacs. >> you were asked about china. i imagine europe, ukraine. by the way, some of the european indices will have record closes today. how would you characterize their worry about the rest of the world? >> this was a uniquely optimistic group he they didn't really kind of say that things were going to be worse in our future. i can't speak for everyone, but there was so little cynicism in the room, just people who feel like look, we're going to go do great things and this is a fabulous country it was amazing to be with people who are just really the picture of hope. it was really terrific. >> that's amazing. how about tonight, jim >> okay. we have elf, cosmetics, on fire. beauty by the way, great read through that ulta is still going to go higher i just, look, i have to tell you, if you look at the chart, that chart is maybe one of t

baffling because i haven't found any news, but back and forth higher than they were back during the gamestopary 2021. stuart: i just couldn't see buying a meme stock like that on the off chance that i'll make 10% -- susan: it's a short squeeze. basically a short squeeze. they're plague on the shorts. so think of concern playing on the shorts. even tesla has been shorted quite a bit, but it's come back quite a bit. stuart: is this the little guy, the retail investor, in this kind of stock? susan: trying to stick it to the hedge funders and wall street. look, it's a social media trade these days, and i know what you think of social media. [laughter] stuart: thank you very much, susan. now this, kink -- king charles visits ukrainian troops, about 20,000 troops will spend five weeks in the u.k. before heading back to the front lines. >>> the popular cartoon "park" taking aim at -- south park taking aim at prince harry and meghan. >> we just want to be normal people. all the attention is so hard. >> isn't it true, sir, that that your questionable wife hangs out with celebrities and does fashion m

it is right now up 12%, gamestop up 7%.t, still up 97%. amc entertainment resumed trading after volatility halt. the company announced ticket pricing based where you sit in the movie theater, dynamic pricing. movie theater chain will price most seats standard. front rows at value rates. you your eyes will bug out of you are your head especially like "avatar." preferred seating smack in the middle of the you had auditorium. pretty significant moves for the meme names. >>> national transportation board investigating a close call in austin, texas, saturday. they had to abort after a nearly hitting a southwest airlines 737 jet taking off at the same time. the planes came within 1000 feet for each other. unfortunately for travelers it is not a isolated incident. connell mcshane live at newark liberty airport, there was an accident over the weekend of the connell a accident or near miss, explain to us? >> reporter: two planes clipped wings here. to your point not being isolated incident just in the new york city area, that was th

from orlando you're pretty adamant that crypto is a big scam, it's all rigged but as we saw with gamestope the power to shut down trading if they're losing money like robin hood got shut down. how is that less rigged than crypto with what we saw with ftx? >> it was totally rigged it's okay. it was rigged. i called it out. in one of those movies i called it out i ain't touching it. i like great american stories. i don't like the hokeum. yes. >> hey, jim, my name is kalin. i have shares in netflix and at closing i was up 66% what should i do >> you need to hold on that team is remarkable. it could go down a little bit but that's a great one for the ride we already went through hell with that now you get the pain you had the pain you get the gain stick with it. yes. >> jim, i'm a big fan. thanks for coming to the u my dad too he says thanks for paying my tuition with all your advice i want to ask you about the recent ge split and in particular what do you make of ge health care -- >> ge health care's doing much about thor than expected they have such a -- but no, not yet! they have a big bac

retail investors back in even more now and they are investing and betting more than the height of the gamestopjanuary 2021. stuart: really? >> not only record for tesla, cathie wood ark investment saw options spike up as well. have you looked at coinbase? you've made 111% so far this year. you've doubled your money in coinbase, tripled your money on carvana. remember that troubled used car company? i can see your face going, what has investing turned into? stuart: yes. >> and there's a bit here, but this is the thing as i told you this is great for global investors and global markets when young investors are willing to get back in so soon after a terrible year last clear, because i always draw to the comparison the dot com bubble burst and they didn't come back for 20 years and now they are making up 25% of all market volumes, incredible i think. stuart: that is interesting. a couple of downgrades i know i've seen it, lyft downgraded. >> yeah, so this is interesting they were downgraded from a buy down to a hold and talking about the active rider metric for the fourth quarter that could fall s

covering exceeded by the meme stock phenomenon two years ago when short sellers were forced out of gamestop info tech and communication services stocks are leading the charge this time, according to jpmorgan mike santoli joins us to discuss and sort of put it in a framework of, i don't know how it colored the beginning of the year so far. >> yeah. one way to describe it, it was a massive positioning shock that we had most of it running through january. remember how downbeat december was. we did have a good rally off the october low but then waves and waves of what we interpreted as tax law selling really did depress a lot of these high-growth stocks you had people leaning short in those directions you have this burst higher into the new year the short covering activity, i'm sure in the near term, cul culminated a couple of days ago. we're looking at these numbers and saying people were forced to cover. what that means on a forward-going basis is, okay, you exhausted a little bit of buying power you probably have prices up at a level where folks will look to reshort them to me it's a questio

the wall street bets crowd, the retail crowd thinks if we all pile in like we did with gamestop, we can they're forced to buy. despite the fact that carvana's on the brink of bankruptcy, it's the up 100%, it's doubled so far in the first six weeks of this year. isn't that incredible? stuart: i think it's mgm, somebody's got to be -- what's the story there? susan: barclays initiating coverage of concern. stuart: buy it, in other words. susan: right. buy the stock because of the recovery play that's taking place in macau and on the las vegas strip. the reason why the stock markets are down is because now wall street has priced in three full interest rate hikes because of the hotter than expected inflation numbers that we got this morning. stuart: each could be 25 basis points, but three factored in this morning because of the hot inflation number. susan: so we could get to 5.5% by this summer in interest rates. stuart: yeah, we could. susan: that's why the stock markets are falling right now. stuart: and the 10-year is 3.95 right now, perilously close to the 4% level. susan, thank you ver

ryan cohen is known for helping those big rallies including gamestop and this, coming from the wall street that he is amassing a sizable stake in nordstrom. let's now turn back to annabelle for some movers in the asian session. after we got those disappointing results from apple. annabelle: what is interesting, we are seeing some of the bigger suppliers moving higher. just under 10 minutes into the session for japan and korea. as you said, those numbers are worse than what was feared by wall street analysts. apple is really showing that impact, still snarls ongoing in the supply chain. we also had seen apple supplies falling in the u.s., like skyworks and the adrs for tsmc. let's change now, as i said earlier, we are in the midst of japan earnings season take a look at these stocks coming online. sony is rising pretty sharply at the start of trading. it did raise its outlook, strong demand for the playstation 5. sales hitting 7.1 million in the holiday order. the company's cfo saying that demand and momentum for building the ecosystem is having some question marks. panasonic is lower today

it's a terrific time for the growth of our business >> what's also up sharply amc entertainment, gamestopading back >> this is a terrible situation. i feel so sorry for these people, that are going to lose all their money. of course, i've been saying that for some time and i've been wrong. look, eventually there is no magic here if a company doesn't make money, its stock cannot float high forever, right. >> i'm just curious what you're seeing though in terms of just if you could give us some color into engagement among retail investors? this year versus last year. >> so as you know, many of our investors are more professional investors and on these stocks, you know, we had just as many people on the long side as on the short side this is an actively trading market, and that is, dreamily good for our business and as i say, many customers are not long these stocks rather on the top side. >> i was going to say -- >> yes >> we normally like to ask you about short positioning. how would you characterize your clientele's short thesis right now? are they all-in on the short side >> not all, but

you've seen bed bath & beyond, little bit of action in gamestop, but they don't have that list of memeen the same resurgence, but some of the same activity in terms of just the risk appetite. you've also seen it in crypto, and lorobin hood also mentionedn their earnings call, they said they've seen a little bit of a return of some of the market activity and just trading volume that really dried up back in december >> nothing like the old days, the salad days thanks, kate we'll see you. >> exactly >>> okay, joining us for more on the markets and specific names that he is watching, let's talk to greg branch we are going to be getting some data later this week i'm curious, ahead of that data, perhaps some of these names you do like and maybe some stuff that you don't right now >> yeah, thanks, andrew. as you guys know, i'm pretty much looking for a repeat performance this year as we had last i think the fed will surprised to downside, quite frankly we sit 450 basis points into a hiking cycle, and unemployment has barely moved, and so while i acknowledge that i'm still bearish in my outloo