do you think is the biggest challenge for andy jassy in the second half of the year? >> i think charting some next generation paths there is so much ahead, so much opportunity, whether it's in ads which he built from a 0 to $75 million business in two years, and the core business and market business, and even these merger categories like media and advertising. there's quite a lot to do, quite a lot of complexity, and i think he's driving across those areas. >> matt, we tend to talk a lot about the businesses amazon has been very successful in, which andy jassy pioneered amazon has grown into sort of this behemoth in the space, but one area is grocery. what do you think andy jassy is going to do with grocery as it really kind of struggles to grow market share >> i think they've already proven the store's business. that was one of the more interesting moods of its first year by shutting down one of the smaller and clearly not performing to expectations stores business. i think in groceries specifically they're going to stick to it. they have the platform of whole foods.

. >>> and amazon marking one year under ceo andy jassy could a turn around be on deck it's tuesday, july 5th you are watching "worldwide exchange" here on cnbc >>> good morning welcome. i'm seema mody in for brian sullivan at this hour. let's kickoff the week with a look at the stocks at this moment a look at futures right now. according to a lower open. the dow indicating lower by 150 points stocks kicking off the second half of the year on a strong note all three climbing by 1% on friday still not enough to erase the steep losses for the week. dow falling 1.2% with the s&p shedding 2% as you see there the nasdaq, the biggest loser, falling more than 4% a lot of it having to do with the bond market. 10-year treasury has been around the 3% level today is below that at 2.88% we will keep an eye on that. draw your attention to the oil market we are watching this strike by norwegian oil workers. further fueling tight supply worries. here is how oil is trading wti crude is higher by 1% at $109 a barrel. ice brent crude is lower at $113 nat gas at 5.76 at this hour. >>> and cryptocurrency bit

jassy acted with lack crity. he was nfl like.re were cuts left and right 100,000 people >> yeah. there's amazon right there low he lower than the premarket bofa, hartman is out fed pivot. we'll get there. it's too early we'll approach in six to nine months this remains a bear rally. 4400 the true lows still 3600. >> if we get a musk decline in commodities then you take a company like ford which had unbelievable numbers, finally getting chips and has reservations out, like a bourdain company, great call, but i will tell you, i'm not buying that if the cost comes down when i look at the basket of costs, they're down substantially. you mentioned lumber there's going to be a glut in housing. brian moynihan said look, it would be -- rents are going to be high. rents are the weakness of the economy when it comes to housing because they have to go lower and they won't go lower by the goodness of the landlord that's still a problem cars will come down. used cars will come down they're getting chips. housing, your house is losing money as

jon: you are talking to someone relatively new on the job, andy jassy taking over at amazon.has pulled plans that he has bold plans -- he has bold plans. kriti: we put that into the context of chips broadly. there's this massive push to bring chip making capacity back to the u.s., but that is not cheap from a production or a labor standpoint and we will have to price that cost in as the transition is being made, something we will have to keep our eyes on. bloomberg markets is next. this is bloomberg.. ♪ this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's nev

. >>> all right, coming up on the show, andy jassy's turbulent first year as amazon's ceo the bull and the bear case for that stock amazon coming up next. >>> and shares of delta, united american, all falling about 20% over just the past month this as air travel hit a pandemic record. record over the weekend. transportation secretary pete buttigieg is here to talk about the delays, the cancellations and the chaos at our nation's airports. >>> and check out shares of ro roblox, higher up by around 28% over the course of the last month, up 13% just today keep an eye on bucking the trend, blroblox we'll be back after this break bg from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities. psst. girl. you can do better. ok. wow. i'm right here. and you can do better, too. at least with your big name wireless

jassy came in and did the same thing, took his eye off of retail. to build out fulfillment centers.is just wrong. the fact is, if they want to be massively profitable they can be. his big mistake was getting rid of dave clark. his second big mistake was the head of hr. they don't pay people enough, and they are losing really good employees. the people looking at it now positively -- i am one of them -- say jassy is going to figure it out or he is going to be gone, and they are going to turn the profit direction back to massively profitable. they can turn on the taps on profits anytime they feel like it, and when they do the stock is going to work. it is trading at about two thirds of its peak, so it is down a lot still. there is still plenty of room for that stock to run. anna: if we are summoning the parts and there is the retail side you think can turn our profits, the other side, the tech side as well around data and the like, what are the other parts? what are all the bits worth? michael: the two that nobody really seems to talk about enough our third-party sellers services, whi

andy jassy, we just talked about from amazon, total comp, $212 million.0. all of these ceos really own a lot of stock in the company, and that's where they're going to make their money. really just the disparity overall, $18.3 million, so much more than the average worker at these companies, jake. >> vanessa, thank you so much. >> enough melting to flood an entire state with a foot of water. that's the climate disaster happening near the top of the world. and "the lead" is there. that's just ahead. stay with us. with a jitterbug? or returned from war, dreaming of the possibilities ahead. ♪ where your d dad waited for his dad to come home from the factory. is this where they gathered on their front steps, with fats domino on the breeze... ancestry can guide you to family discoveries in the 1950 census. see what you can uncover at ancestry. (vo) get verizon business unlimited from the network businesses rely on. like manny. event planning with our best plan ever. (manny) yeah, that's what i do. (vo) with 5g ultra wideband in many more cities, you get up to

andy jassy, $212 million overall, $175,000 in salary.th disney's ceo, you can see that spread right there. so unfortunately a salary cut may not do as much for employees, but the real question being asked is this pay disparity, who does it benefit? obviously the success of the company when the company is doing so well, it sort of benefits the ceo rather than the employee. >> eye-opening number, maddening numbers, thank you. we'll be right back. if you used shipgo this whole thing wouldn't be a thing. yeah, dad! i don't want to deal with this. oh, you brought your luggage to the airport. that's adorable. with shipgo shipping your luggage before you fly you'll never have to wait around here again. like ever. that can't be comfortable though. shipgo.com the smart, fast, easy way to travel. your mission: stand up to moderate to severe rheumatoid arthritis or active psoriatic arthritis and... take. it. on. with rinvoq. rinvoq is a once-daily pill that tackles pain, stiffness, swelling. for some, rinvoq significantly reduces ra and psa fatigue

the needle here but i think it is important to understand, especially with a name like amazon, andy jassy took over for bezos a year ago, he's going to put his own imprint on this company and it might look like a different company than it was under bezos a few years ago. especially when you consider that he was the one who built aws over the last ten-plus years that allowed amazon to go in a lot of these different directions because of the great margin and great growth in that business so andy jassy probably has a few tricks up his sleeve. >> for better or worse because the stock has underperformed, partly the environment under his tenure but also amazon a disappointment for the bulls. >> i think for better. i think at the lows just a month or two ago, the stock was down 45% from its all-time highs last summer this is a company that built a vaccinated supply chain during the pandemic they obviously overbuilt they're bringing back some of that spend as it relates to logistics and the warehouses they're going to get their expense ratio back, i think, in line here and there will probably be

all right thank you jassy. and a programming note, if you missed it earlier this week and catch the most recent generous experience in their entirety beginning today at 6 pm eastern and all day tomorrow, starting here at 1 pm on msnbc. coming, up how state-by-state abortion bans could land women, especially women of color, in jail. we're gonna talk about that on the other side, you don't wanna miss. it stay with us. talk about that on talk about that on the other side so they shoot it. hmm... dave says “feed it?” and dave feeds it. miss it stay with us. just then our hero has a breakthrough. "shoot it, camera, shoot a movie!" and so our humble team saves the day by working together. on miro. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network with no line activation fees or term contracts... sa

amazon says that's because andy jassy has a lot of stock in the company.t the point of this report is really to just look at this disparity and the numbers tell the story right there, kaitlan. >> that is quite the ratio. van ness is a, thank you. >>> so on a different subject expiration dates on food products can be intimidating. what does the date really indicate? is it science or a suggestion? joining us now cnn business writer danielle wiener brauner, she just wrote an article titled "the truth in strategy of food expiration dates." it's a wonderful article and addresses a problem i have had for years. i don't know what the heck they mean. what is the date? >> first of all, john, you are not alone. it's not your fault. it's a really confusing system. generally that date refers to the quality of the food item. so it's not necessarily a safety issue, it's more of the food company, the manufacturer's best guess as to when that food will taste the best. the reason that it is confusing to you and to me and to many other people is that the way that that date

the jassy parameter reserve and the ga jeremiah reinstate parker uploads wasn't. they didn't seek any expert advice 1st. and there was no public debate officer dodgy. it was just because the jew areas were reported were stopping by expansion of grazing land for cara castillo to york in the states highest hold route, that the decision contravene the constitution but the forest is still being cleaned . both areas bowden, carry, puna land, noah. so this is where our territory begins. on the right hand side of the river need be in the village and 2 and a half hours. we passed a number of giant, some all my trees. they are known here as the queen of the forest. the territory of the caribou not hovers more than a $150000.00 actus a handful of families and a host of dogs. await our arrival the carry, buena, go, hunting, conserving the meat with salt and leaving it to dry in the sun. those jesse. but on our river is a lifeline for the community. at the end of the rainy season, the swollen river offers well come, rest bide from the heat. relative humidity is nearly 90 perc

the jassy parameter reserve and the gadget are meeting state park are not allowed to what they didn't seek any expert advice fresh to and there was no public debate also said dodgy, it was just because the 2 areas were reportedly stopping by spankin of grazing land for qatar i would a possibility or can we start the state highest port route that the decision contravene the constitution but the forest is still being cleaned. both areas, bowden, carry, buena land, philip, but this is where our territory begins. on the right hand side of the river, i will be in the village and 2 and a half hours we passed a number of giant, some on my trees. they are known here as the queen of the forest. the territory of the carrot, buena covers, more than a $150000.00 actus a handful of families and a host of dogs await our arrival the carry puna go hunting, conserving the meat with salt and leaving it to dry in the sun. that is jesse baron, i river is a lifeline for the community. at the end of the rainy season, the swollen river offers welcome respite from the heat. relative humidity is nearly 90 per

and you'll see great growth in amazon but i think you have to look at that andy jassy is doing a great job and it may take a few quarters to flesh out, because he's finally focused on profitability. so i'll be back in amazon at some point maybe this quarter on apple, i'll be back also. i actually think apple misses this quarter, because the consumer has been stretched. and it's a retail company, much more so, i believe, than it is a technology company because they sell directly to the consumer, primarily. so i think you've got to be a little concerned about both. they're not devastating blows for the company under any circumstances, under any, you know, scenario so if they do crash, then, i don't think they'll crash, but if they do come meaningfully, i would be a buyer >> joe, you own amazon the stock has been a tremendous disappointment, right? down 29% year-to-date, and we have these new questions because of walmart, we already have these questions. walmart made us think a little harder about it. >> we need some clarency on the currency headwind for amazon we'll hear an that, as well

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

amazon, you're going to see a big slimdown by jassy. facebook, metaverse, hired too many people. alphabet is slowing hiring this makes a lot of sense. >> you think it's because employment lags? continuing claims this morning were down. >> well, i think that what you'll get is initially they're still hiring slowly, and then they will be just laying off i look at meta, facebook, we don't care -- obviously we want revenue growth and we don't care what it costs. we don't want down revenue growth and try to make the number through savings but that said, they have to right the ship there that's where we're going to see the big layoffs. now, i think that mark zuckerberg actually is building -- he's got a big position for reels and reels doesn't make as much money but i do point out that when you get the end demand for a lot of things that have been really great not be that great, you're just not used to seeing it in silicon valley they're the headquarters for recession, not the banks brian, did he come on the show to be able to say that the consumer is strapped and consumer is in debt?

but this is you know what, the beginning of jassy's direction >> maybe >> i would tell you, this is a company that lisa gill, jpmorgan top analyst, has championed. i think there are many people who feel still that getting a doctor's appointment is a bad experience >> right. >> and i think that amazon, when people come in, think they can do a better job. >> maybe they'll help to transform that primary care experience bertha, do you have any perspective on this to help us understand going through the various areas you know well where we thought amazon might try to disrupt things. >> when it comes to health care, they were using all of the parts separately last december, there was a company that would build up amazon prime to head up amazon health care. they could perhaps, you could envision them prying to bring it all together because they've tried to market amazon care, their virtual service which they use for their own employees. pill pack hasn't found traction with that either i remember talking with some amazon health care executives saying why aren't you bundling those together now

this seems to be a bold andy jassy decision.cond ceo in amazon's history, succeeding bezos last year. eptering his second year on the job this week. amazon is adding 5% surcharge in april to sellers to cover higher inflation costs. walmart doing the same. making that announcement, they will charge an extra fee to sellers to cover higher transport and fuel costs that will kick in on august the 1st. walmart news is up on this announcement, because they're protecting their profit margins or trying to. apple's macbook air, next generation chips will be inside shipping next week. you have to remember apple makes its own chips for iphones, ipads, mac books, ending multidecade partnership with intel, one of the largest chip-makers on the planet all of sudden. goldman sachs cutting their price target down to 130. goldman says the slowing economy means hardware sales will be down 2% the next two business years. still consensus on the street neil is still 160. katie huberty morgan stanley, most respected apple analysts calling for 185 for

the ceo andy jassy with the pandemic area expansion, which you may have recalled that it had way toospace and way too much workers. one analyst pointed out it's better than expected result in strong guidance that leave amazon and a better position than walmart, for instance, to whether the inflation storm. it has a much higher end customer as opposed to walmart, which is seeing a customers shift the lower end merchandise. back to you. haidi: su keenan with the latest on the big tech earnings. let's get you a check of the business flash headlines. intel falling short of profit estimates of cutting forecast period second-quarter revenue fell 22% to $15.3 billion, way below the $18 billion estimate. the world's biggest maker of computer processors was weighed down by the drop in demand for datacenter chips and a steep decline in shipments. shares tumbled as much as 12% in after hours. dow jones is reporting that instacart expects to go public before the years end. that's earlier than wall street expected. instacart confidentially filed for an ipo earlier this year and is said to be in a