jon fortt live at the mobile world congress in barcelona. from jon in a couple minutes, including his interviews with the vmware ceo >>> we begin with warren buffett. talking the state of the economy, his stake in apple, and his thoughts on jerome powell ahead of his testimony tomorrow. >> overall, the rate of improvement is tapered, but certainly hasn't flattened now, that can change next month and home construction has been disappointing. right now things are fine. there are stocks i would buy that we own nine and a fraction percent, and i may be selling a bit, they're repurchasing shares and i don't want to drift over 10%. but apple, i don't see myself selling. the lower it goes, the better i like it obviously. i don't second guess it. he is a terrific choice for fed chairman he was at the treasury in 1991 when solomon was in trouble. i saw him make a lot of good decisions for the united states government, he's a smart man, very level headed. he understands both business and economics and i don't think you could have a better chairman >>

i am carl quintanilla with morgan brennan and jon fortt he is in san francisco at the think conferencee from jon in a few moments, including an exclusive sit down with ginni rometty >>> back at home, shares of apple after three down days, investors monitor a number of potential head winds rod hall out with a new note, highlighting one in particular and joins us from goldman's tech conference in san francisco as well good to have you back. good morning >> hi, carl, good morning. thanks for having me >> so everyone has been wringing their hands on unit sales. sounds like you're focusing on services revenue what's the note about? >> we're talking about, you may remember in september we talked about tack, the money google pays apple for search done on apple's platform we're updating that this morning. google's reported again, have a couple more quarters since the last report. people were i think surprised to hear last time we reported on this in september that it is about $9 billion we were estimating for tack in 2018 and in fact foog reports support that we think it was $9.5 billion of re

i'm carl quintanilla with morgan brennan at the new york stock exchange jon fortt, of course, out ine market bureau after a couple of days of great coverage on the west coast. we're going to begin today with the markets. stocks rally again today, extending yesterday's gains as u.s./china trade optimism drives the major averages even higher with us now on where stocks going from here is keith lerner, chief market strategist at sun trust and jack avelin with crescent wealth advisers good to see you both >> good morning. >> jack, let me begin with you 2760 here, as more optimism about u.s./china trade and the border win assu border, i assume, is driving things how much do you think the rally we've had since christmas eve needs to be digested here. or is this going to create a little more fomo having reached that 200-day >> i think we were a little bit to the downside, we were at the lowest level of optimism since the financial crisis so i think some of this was a simple bounceback of reality and expectations that said, we do need to see some progress in these china trade talks. my conce

. >>> good tuesday morning i am jon fortt, morgan brennan and wilfred frost. carl is on assignment. also with us the entire hour, elevation partners co-founder, early facebook investor roger mcnamee out with a new book today, "zucked," waking up to the facebook catastrophe on the early days of the social network, the extension threat to society. wow. that's a provocative title what is that referring to? >> you know, you get to decide my wife came up with the name, since it is kind of a new word, people can decide whatever it means to them. >> in your book among other things, roger, you say, quote, facebook remains a threat to democracy and that it continues to prioritize its business model over civic responsibility. i'll also note facebook's official statement to us on your book, they say take criticism seriously over the past two years, we fundamentally change how we operate to better protect the safety and security of people using facebook. the reality is roger mcnamee hasn't been involved in facebook for a decade, which you don't dispute. >> no, i don't to me it is completely irr

i am jon fortt with me, morgan brennan and david faber. carl is on assignment.markets are mixed, the nasdaq coming off a sixth straight week of gains, as the last faang name, alphabet, is set to report earnings today after the bell. up already 8% for the year the faang names, however, are in correction territory, down more than 10% for the 52 week highs apple, facebook, amazon trading down 20% joining us for a closer look at the names, david rolf, and tom lee. happy monday to you both tom, another in a by tuy the dip move to the extent we had dips. >> i think last year's stocks in that waterfall decline priced into recession earnings i think are showing more speed bump than economic contraction, and the fed's turned less hawkish. i think with positioning, that's the best odds since 2009 i think people should be buying the dip. >> to what extent are you watching earnings, getting new information or are they confirming your mindset coming into the year? >> well, i think that they've allayed the word fears i think people thought trade and the shutdown and the decli

. >>> but first, jon fortt at the mobile world congress looking at the future of wireless communication >> reporter: 5g is allowing this robot's joints to stay in sync find out more of what 5g can do coming up. this is decision tech. it's screening technology that helps you find a stock based on what's trending or an investing goal. it's real-time insights and information, in your own customized view of the market. it's smarter trading technology, for smarter trading decisions. and it's only from fidelity. open an account with no minimums today. and it's only from fidelity. when yowhat do you see?itical issues facing our world, we see breakthrough medicines getting to patients in record time. we see harnessing natural gas unleashing the promise of clean energy. we see engineers simulating the future to improve today. at emerson, when issues become inspiration, focusing core strengths to create a better world isn't just a result, it's a responsibility. emerson. consider it solved. >>> welcome back tech's newest gadgets are showcased in barcelona and cnbc's jon fortt is there. what did yo

jon fortt explains. >> reporter: what's so special about 5g? well, 1g brought us phone callsg texting. 3g, web browsing. and 4g, video streaming. 5g promises to make all o that faster, but maybe more important, it should make room for a flo of new gadgets, like self-driving cars, smart homes, weather sensors, traffic lights, security cameras. with 5g, all of them can be connected at the same time without causing a traffic pi le-up of data. it all works because three characteristics of 5g make t a potential game-changer. one, it's fast. how fast depends on how it's set up. for phones, top speed should be not only a bit faster than 4g, but unlike 4g which can be bursty, 5g phone speeds are more consistent. two, it's agile. in the world of data that's low latency. it means the time between asking to play the video and the video starting to play, much shorter. like driverless cars, which will be reacting to traffic warnings and other alerts from the network. three, it has endurance. when it's s up for communicating with sensors. 5g networks don't m

. >>> let's send it to jon fortt with a look at what's coming up on "squawk alley." ey money ceo joins us in a few minutes. that stock having a rough morning, now 14% it might not have to do with the results. we'll give you more on "squawk alley. what do you see? we see breakthrough medicines getting to patients in record time. we see harnessing natural gas unleashing the promise of clean energy. we see engineers simulating the future to improve today. at emerson, when issues become inspiration, focusing core strengths to create a better world isn't just a result, it's a responsibility. emerson. consider it solved. the street." i am dominic chu markets are down but recovered much of the early losses the biggest laggard in the s&p 500 today is the financial sector, down 1.5% here nearly every component in the index is lower on the day. you have shares of aig, posting the biggest drop after they reported a loss last quarter on better than expected revenues. other laggards, charles schwab, state street bank and blackrock. kre on pace for the worst day since december 24th

i am carly fiorina with morgan brennan and jon fortt.ting breaking economic data on oil inventories, pushed back a day because of the holiday shot ened week >> numbers just out from the energy department show weekly crude inventories were up 3.7 million barrels, compared to 3 million barrel increase for estimates. west texas crude down slightly ahead of that report they're still.n down a third percent. and also seeing gasoline inventories down by 1.5 million barrels, they have been forecasting decline by 500,000 barrels as well. there's the oil and gasoline check. carl, back to you. >> dom, thank you very much. >>> markets are down on tech stocks they have been on a tear of late the nasdaq looking for a ninth straight day of gains, on pace for nine consecutive weeks in the green, longest streak in about a decade, amid ipo headlines for lyft today 2017 debuts up more than 180%. is there still value in tech as the sector begins the melt up? good morning, guys good to see you both >> good morning. >> jeff, what do you think the lyft report

jon fortt live at the mobile world congress in barcelona. ple minutes, including his interviews with the vmware ceo >>> we begin with warren buffett. talking the state of the economy, his stake in apple, and his thoughts

look at the situation they go me facing ♪ >> welcome to "squawk alley," i'm carl quintinilla with jon forttgin with tech win streak. roger mc'nam namee has a book c "zuk'd" that you have to read. welcome. let's talk about the faangs. did you see this coming when things were looking ridiculously pessimistic. >> carl, i don't pretend to have a crystal ball things were realistically speaking way better than stock prices were more than two months ago so here we are. >> to that point back in the fall you said that you had become more cautious about the markets and that you were buying treasuries at the time has your sentiment shift shenandoed >> to be clear i'm on a book tour so i'm not paying as close attention day to day but what you're looking at here is -- and this is true, the sentiment in the market reflects stock market thing things if something goes wrong in our trade relationships, that will be a huge issue for tech. >> as i look at the stocks that have gone up the most, some smaller tech stocks, gopro is up more than 40%, fox is up 45, stitch fix 48. these are stocks that got clobbered

i am carl quintanilla with jon fortt, morgan brennan is live at the last surviving tank factory.orgue from morgan in a moment >>> we begin with a developing story. amazon founder jeff bezos going on the offensive, accusing publisher of "national enquirer" of blackmail he says the lawyer threatened to post sexual pictures he texted to his girlfriend in exchange for a public statement that the tabloid coverage of bezos was not politically motivated. bezos claims the "national enquirer" owner, american media, wanted him to drop an investigation into how the publication obtained text messages exposing his extramarital affair. american media issued a response, says it supports the enquirer investigation into bezos, but in light of allegations, its board convened and will thoroughly investigate the claims joining us, recode editor at large and cnbc contributor kara swisher. good morning >> yeah. >> it is called a bombshell today, that almost understates it >> yeah. >> what do you think is important to know about it, day one of this? >> first of all it is interesting that he did it we'r

. >>> let's send it over to jon fortt. we're sending it a long way today."squawk alley. >> hey, david, i'm in san francisco at the think conference we're going to have the ceo here, a lot of talk about the cloud, hybrid oucld, multi cloud environments that's coming up on "squawk alley. ♪ you should be mad they gave this guy a promotion. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis. at&t provides edge-to-edge intelligence, covering virtually every part of your finance business. and so if someone tries to breach your firewall in london & you start to panic... don't. because your cto says we've got allies on the outside... ...& security algorithms on the inside... ...& that way you can focus on expanding into eastern europe... ...& that makes the branch managers happy & yes, that's th

carl quintanilla with morgan brennan and jon fortt at post 9 of the new york stock exchange we beginwashington and update on shutdown talks for more, ylan mui >> reporter: good morning, carl. three sources are confirming lead negotiators of the shutdown committee are trying to resuscitate talks. top two democrats, top two republicans in that committee are planning to meet later this afternoon. that's scheduled to happen at 3:30 p.m this is supposed to be a private meeting. i'm told not to expect them to hash out details of dollar funding or of i.c.e. detention beds, but this is a chance for them to get together, come back to the table, agree to move forward with talks once again. that's because lawmakers are already playing catch up i'm told they originally intended to announce a deal by noon today in order to comply with procedural requirements in the house and senate to get a deal passed before friday, february 15th. now i am told there's still time for something to come together if they really want it to happen, if there's a will, there's a way here on capitol hill the fact that t

i am carl quintanilla with morgan brennan and jon fortt. >> shares of amazon falling on a weaker thanected forecast for the current quarter, despite beats on the top and bottom lines in q4. down 18% from the all-time high in september, 20% would be, well, bear market for one stock, whatever that's worth. head winds of note heading into the new year include slowing u.s. sales growth, slowing international sales growth challenges in india and up tick in spending. something they noted on the earnings call. >> 2018 was about banking the eve sees of investments in people, warehouses, infrastructure that we put in place in 2016 and '17. i would expect those investments to increase relative to 2018, and we reflected in q1 guidance. >> is the aws beat the most important thing here there's some negatives you could pick at. the stock is performing pretty well overall. >> i put them in a list of three. first, aws on tougher comp. maintain 46% year over year growth, that's impressive. also the market leader, running well over 25 billion run rate. that's good growth second, overall growth rates ar

. >> we'll be talking a lot more about it robert, thanks >>> let's send it to jon fortt with a look at "squawk alley." good morning, jon. >> sara, speaking of billionaires, jeff bezos and amazon will continue the conversation in "squawk alley. hq2, talk to jim stewart about that and the continuing scandal around bezos himself with raka swisher. that's coming up in a couple of minutes. >>> welcome back to "squawk on the street." stocks off highs of the day with the s&p 500 barely holding gains ahead of more china trade talks this week. as we drill to one of the underperforming sectors, it is in energy. this as u.s. crude oil prices tumble to lowest level since mid january. up tick in drilling activity along with refinery fire in illinois, weighing on the index. among the names to the down side, noble energy and occidental petroleum, chevron. worth noting, despite that rally, it is down 50% from recent highs last july i will send it back downtown to you at the new york stock exchange, david. back to you. >> thank you, dom chu at hq. >>> "closing bell" approaches, but not for a little whi

i am carly fiorina with morgan brennan and jon fortt at the new york s

i'm jon fortt here

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. ♪ ♪ >>> good thursday morning, i am carl quintanilla with contessa brewer and jon fortt morgan is onignment. we begin with a sell off this morning. nasdaq down 1%, back in correction levels. amazon, apple, facebook, alphabet, netflix with the most negative point impact. watching faang remain in bear market territory, down 20% or more from recent 52 week highs joining us, rbc capital markets analyst mark mahaney, and portfolio manager paul meeks good to see you both mark, i wonder what do you think accounts for weak nness in the space and how specific the news is regarding facebook in germany if that's the seed of all this today. >> i think the biggest regulatory overhang has been regulation for the last 12 months i think it is why faang stocks hit a ceiling, that and near term valuation middle of last year keeps bubbling up our guess is, our sense is that we're going to see that dissipate as an issue, in terms of whether it impacts fundamentals, we have two and a half full quarters of facebook and google results since gdpr, biggest privacy regulation we'll see for the next several ye

i'm jon fortt here at post nine with morgan brennan and david faber. carl is on assignment.re mixed today but off today's lows with the dow and nasdaq still on pace for their seventh straight positive week all the f.a.n.g. names still in correction territory, down 10% off their highs, but trending upwards as treasury secretary mnuchin and u.s. trade rep li t lighthizer head to beijing secretary mnuchin joined "squawk box" this morning. take a listen to what he said. >> the outlook is very strong. i was with a group of ceos yesterday. they continued to have a very strong outlook on u.s. business. i think we've made a lot of progress already on trade and i think the outlookfor the economy this year is quite strong >> sounds sunny. joining us now, jonathan gottli gottlieb, chief u.s. equities strategist at credit swooiuisse tobias lutovich. so you're pretty optimistic on the economy. despite fears about an earnings recession, you think those are skewed by a few things that people are not thinking about. anniversary effects of taxes >> so what you had was, last year you had -- y

i'm jon fortt with morgan brennan and david faber. live at post 9 of the new york stock exchange we begin this morning with the markets. we have seen big swings in stocks major averages red across the board, a drop in december retail sales, largest in more than nine years, spooking investors in today's trade. steve liesman is in washington with more. steve? >> reporter: jon, thanks very much a lousy retail sales report. we got to ask the fed governor lael brainard in that in an interview an hour or so ago, and what she said was that it is part of a lot of other risks out there, including global weakness, trade tensions, and other economic issues that are concerning her ultimately, she said the fed is in a good place in terms of being on pause and hold. let's look at the retail sales numbers she was talking about. down 1.2%. biggest drop in nine years, estimate up 0.1% if you look at the details, department stores were lousy, gasoline stations were down, even internet retailers didn't do well, they were negative as well here is some co

i am carly fiorina with morgan brennan and jon fortt at the new york stock exchange.ig show this morning. the president tweeting about 5g and beyond, one of the people leading the administration's charge, brenld and carr joins us, and intuit ceo, his first interview since taking the job door dash raising $400 million in a funding round, valuing the company more than $7 billion, nearly deductible six months ago. the ceo with us coming up. big show >> big show indeed you mentioned, the dow notched 26 k, on pace for nine straight weeks of gains for the dow bob pisani is here >> i think the important thing is this week is we're basically flat on the s&p 500 and we are seeing global markets outperform that's a little surprising we're up 18, 19% since december 24th low all of a sudden europe up 2% and we're flat, haven't seen that in a while. china up 5% for the week, certain indexes there. germany up several percent i don't know if this is a pause but a lot of people have been saying a long time it is time for a little catchup another thing, value has been outperforming gr

jon fortt joins us now he has a special guest first on cnbc jon? >> great to be with you. >> i want to talk about privacy first. i was looking back two and a half years ago, you wrote a dissenting opinion about the rule of fcc came up with on internet -- we've seen controversies lately with people's personal information being transferred to facebook. what's your reaction to that controversy in light of what happened two and a half years ago and what rule does the fcc have in perhaps weighing in on that kind of thing >> as you know, two and a half years ago, i made the argument that online consumers have a uniform expectation of privacy regardless of what type of company holds their information. they want to information to be safeguarded. the obama fcc decided, no, we are going to single out internet service providers while giving silicon valley tech giants a pass i think the folly of that approach has been released in the past two and a half years. talking about facebook, have highlighted the fact they have essentially -- that's why you see somethi

. >>> the cloud landscape is shifting jon fortt with a look at how new customer demands impacting thece. jon? >> reporter: yeah, wilf. it is a new cloud clash, another front in the cloud wars. think of it this way it used to be about the giants claiming that they were going to have supremacy in the cloud. and then they started talking more about hybrid, connecting data centers to the cloud and now talking more about interoperating, connecting clouds to each other that's part of the backdrop for ibm's announcement of watson anywhere that watson ai of theirs is now going to work on other people's clouds take a listen. >> what watson anywhere is about is demand of clients and got to do with data you know, we talk about how much data everyone has and where is the data and protect it and move it this is in response to that. >> reporter: so this is ibm think. it is their big conference here in san francisco 26,000 people. kind of a rival to dream force, to oracle's open world they want to drive home this cloud integration point. another thing that ceo rometi talked about and will in the key

. >>> also jon fortt covering apple for a long time. job always high profile one. >> yeah. >> ron johnson, right? >> yeah. >> jon, how they reimagined the idea of retail around the products talk a little bit about the significance of this. >> well, it is hugely significant because angela ahrendts stepped into the job five years ago when tim cook stepped in it in a bad way he hired a guy from over in the uk and john brown did not work for apple. at this point, more than half of apple employees work in retail so this job overseeing apple's retail operation is hugely important because not only are you overseeing most of the people at apple and interact most directly with customers, but also dealing with the working class, just in the trenches apple workers and all of the really complicated issues that go along with that. like, security checks coming into stores. things like that morale issues entirely different of what apple traditionally was used to dealing with angela would get on conference calls and work on morale issues and expanding

eamon javers let's sent it over to jon fortt to get a look at what's coming up on "skwaug alley. >> samsungingerprint sensor new technology and screens and wireless charging. we've got them here and that's coming up on "quack alley. ♪ driverless cars. all ground personnel please clear the hangar. trips to mars. $4.95. hydroponic farms. robotic arms. ♪ $4.95. delivery drones or the latest phones. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. no matter what you trade, at fidelity we see hat emerson,kthroughs when issues become inspiration, creating a better world isn't just a result, it's a responsibility. emerson. consider it solved. >>> welcome back to "squawk on the street." i am dominic chu stocks are trading near lows of the day so far and communication services stocks among the worst performers as you can see so far today, dragged down by stocks in general on the large cap side of things alphabet on reports the cloud computing business could face challenges catching up to rivals other big names in that sector lower, including facebook, twitter, netf

we find cnbc's jon fortt what are the main headlines? >> reporter: it's all about 5 2k3w6.and then the kind of reality years of course, we always talk about the reality when we're here and sometimes what they want to talk about at the conference is really kind of hype. this year 5g and has been hype really is real and we have seen that in the u.s. with at&t and verizon actually starting to roll out 5g networks and we are seeing here companies actually start to launch 5g phones. one of those is huawei of course, we talked about huawei in the context of the controversies with the trump administration you know equipment with 5g, et cetera here there's a 5g phone, a foldable 5g phone, samsung with one. huawei's phone getting rave reviews for its design and some dropping jaws for its price tag. $2,600 for that phone but i think kind of an iphone 10 and 10 plus et cetera, 10s plus, inoculated people from pricing shock. over $1,000 people say, okay, it's expensive, okay. >> well, it's quite a big increase in percentage terms jon, what is your take on why apple haven't done this? i

. >>> time to send it over to jon fortt for a look at what's coming up on "squawk alley." jon?rnment. this story continues to development uk parliament with harsh assessments of facebook and we continue to follow this story of amazon and new york and the reverberations it s d haan all that is coming up on "squawk alley. it's absolute confidence in 30,000 precision parts. or it isn't. it's inspected by mercedes-benz factory-trained technicians. or it isn't. it's backed by an unlimited mileage warranty, or it isn't. for those who never settle, it's either mercedes-benz certified pre-owned, or it isn't. the mercedes-benz certified pre-owned sales event. now through february 28th. only at your authorized mercedes-benz dealer. when yowhat do you see?itical issues facing our world, we see breakthrough medicines getting to patients in record time. we see harnessing natural gas unleashing the promise of clean energy. we see engineers simulating the future to improve today. at emerson, when issues become inspiration, focusing core strengths to create a better world isn't just a result,

. >> rick, thank you so much let's sent it to jon fortt with a look at what's coming up on "squawk alleyne of the biggest companies in tech made an announcement that changed its trajectory and arguably the whole game plan in the cloud for a lot of different companies. we'll tell you why it's significant coming up on "sqwk ley.ua tunity comes risk. and to manage this risk, the world turns to cme group. we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances. >>> welcome back to "squawk on the street." stocks mixed with the s&p 500 and dow moving slightly to the down side while the nasdaq holes on to gains and as you were discussing before oil prices dropping sharply sending the s&p energy sector lower on the day with big oil names like exxonmobil, virginia rear lone and chevron among the biggest laggards energy sector up 12% so far but it's still down around 11% over the course of the past

i am carl quintanilla with morgan brennan and jon fortt. >> shares of amazon falling on a weaker thanhe top and bottom lines in q4.