let's talk about can you get to lvmh like margins at burberry without the scale of lvmh.is? >> not right now but there is scope to increase the margins, to increase scales. what is different this time of round, they were really good designer. he had a really good track record in handbags. hit a really good track record in handbags. he created the sort of woven bags that were really popular, this sort of woven shoes also really popular. smart whole range of imitations. if he can do that at burberry, they've got a really good chance of achieving. alix: how longer we get a know until we know that. where's the timeline for execution risk. >> he does not unveil his first collection till february so there's a bit of time for that. then a rain where campaign next year that he's been involved in although that previous products. so will take time for his products to get in store but what they were saying today was you already have a good platform of products so this is very much sort of building on what they have already so that should give it a bit of momentum and a bit of contin

the luxury sector also responding, lvmh of 3.5% today. we need to talk about inflation and will in a moment. alix: speaking to the oil moment, eu ministers are potentially looking at $60 for the russian oil price cap and inventory is low in the u.s. the supply story trickling in as well in addition to china. the s&p down, being outperformed in europe, but i will say the s&p will end the month higher. have not seen that in about a year. crowd strike had terrible numbers. it's recurring revenue missed and outlook missed. they are seeing an overall tech spending slow down and is taking them -- and it is taking them longer to get contracts. materials is the best index in the s&p this month, up 7%. if you get a china reopening, does that move higher? and ahead, powell and the economic data we got today. the inverted yield curve, what powell has to do, how he interprets this data, particularly jobs, as we may have hit a peak in job openings. guy: are you listening to the central banks and what they are saying? let's talk about the european data

lvmh, micro cores, as well as coaching tapestry. we like what we are seeing with handbags.k health and wellness are big topics as well. taking it back to walmart, we are -- we are impressed with the grocery results. that is a stabilizing factor, and they have done a really good job executing prices there. guy: if inflation starts to come down, and i appreciate we are in the early stages of that moderation, do you switch back out of the stables and head toward more discretionary? you have made some names at the top end of the luxury space, but how does discretionary do in an environment where inflation is starting to roll over? oliver: what we are really watching for luxury goods, also these data points on china. that is a vague -- that is a big factor for lvmh and others given the spending power the chinese consumer. i would say walmart has great characteristics, because it is defensive and offensive. as you think about walmart as an omni-scale leader, walmart is doing things like advertising, fulfillment, the marketplace model. much like amazon. it is prepared to win in an

our top idea is lvmh, louis vuitton. a $350 billion market cap company. they spent $7 billion on advertising and marketing. u.s. brands spend between $300 and $500 in marketing. that's an idea we really like. consumers are bifurcated they're really buying luxury and they like luxury and we're getting pricing. and they're also looking for extreme value. i'm a big jewelry shopper at costco i buy caviar at costco that actually has 50% of their customers are above $100k there. so don't count that out as an idea >> you count costco as part of the luxury sort of category? >> i think costco has an amazing premise. and all people love value. and costco is a really fun treasure hunt. they are one of the biggest fine wine importers they're also one of the biggest diamond retailers. and their quality is second to none and they have a fixed margin so you're getting a great deal no matter what it's a members only model. very well thought of merchandising organization, premium jewelry. >> darling, i got it at costco >> he bought it at kous co doesn't have the same ring

lvmh off by .6%, kering down .4%. underscoring the leakages between china. -- linkages between china. the other story, the foxconn plant in china in lockdown. the redhead is that apple will see a hit of about 6 million iphone pros as a result of what is happening in foxconn in zhengzhou. big hit for apple. we will monitor other suppliers, european and asian suppliers, and see the tie-ins across the tech sector. apple supply chains impacted by protests in china. let's go to mliv managing editor mark cudmore. you've been looking at two charts that give context to this pessimism around china. i know you have views on whether that is sustained. >> yes, excellent context for the uncertainty. high led by the fact that no more have downgraded their forecast to 4% next year. but i must apologize for leaving you hanging, entirely my mistake. anyway, let's get a look at the 2023-2024 forecast, this is the china line, the white line. it has fallen, the forecast from 5.2% down to 4%. u.k. expects to contract next year, you talked

you see things like lvmh continue to do well.ou've had a storied career at some of the giants of consumer goods. now you are starting on the investor end of the curve. is there an opportunity? lots of layoffs from the big names. what is the e-commerce landscape outside of amazon? >> it's an interesting time in venture because it's a tough time and particularly for consumer and consumer tech. what you are seeing is a lot of consumer brands are being judicious with their spend not only because they are concerned about the consumer and worried that this might be a more tapered holiday season but number two, they are trying to extend the runway. they know they need to show strong numbers to their investors. need to show a positive ratio. they are being very thoughtful about how much pay to spend they are using. thinking about how they can acquire customers more cost-effectively, what channels to use. caroline: we are having a bit of a laugh today about a tresemme ad on youtube going into the metaverse and it looked deeply awkward and

with lmvh >> charlotte, i know this is a sector you following closely one story that came up with the lvmh and tom ford. that was a surprise to the people out there este lauder and tom ford my apologize what types of moves within the luxury space and joining of the traditional fashion house with beauty products or men's wear? is there a potential for that type of action to tayke place >> they have been very open about it they rely on gucci they will take time. they have been building up the other brands in the portfolio with huge success. they are doing well. they are looking at acquisitions they are one name looking to buy tom ford they lost against este lauder. one thing kering is different from the others is they don't have a lot of jewelry and leather which has bigger margins. one area they may look at acquisitions certainly looking at diversifying the portfolio they have been doing smaller acquisitions, but focusing on gucci turn around. >> nothing like management or leadership change to coincide with corporate action. charlotte, thank you for joining us around set. >>> coming up on t

is what investors are looking at on to the shares fear in the market is exactly what we're playing lvmh and hermes in negative territory. trying to shrug that off a lot of fear in the market asian market, particularly china with the key ingredient to the luxury market as a whole the oil majors gain as i said with demand being the key question mark across the board bp up 5% interestingly enough for shell, it does have other news from it. the chairman has told sky news it is reviewing it's 25 billion pound investment in british projects this comes after that autumn statement by the chancellor jeremy hunt where the windfall tax extended for energy companies. it is so far up 2.6% nearly 3% higher for totalenergies. >>> a lot of focus on what is happening in tech stocks i have to say we have results from baidu the internet search company in china. the third aquarter revenue beat estimate 32.5 billion yuan. $4.56 billion in the last few months compared to the estimate of 76.2 b billion yuan this is up 25% year on year. total revenue 2% year on year. i thought what is interesting and this is t

reopening in china as you look at the moves in european luxury makers hermes up 3.6% kering is up 4.5 lvmh higher. >>> let's get a check of the morning's top stories with silvana henao. good morning >> seema, good morning president biden is threatening to pursue higher taxes on oil company profits if industry leaders don't reduce gas prices. speaking at the white house yesterday, the president continued the criticism that oil companies have made record high profits as consumers struggle. any new proposed taxes could face opposition in congress especially if republicans expand control after the mid-term elections next week. the president stressed he is a capitalist, but these companies have benefitted from the war in ukraine and subsequent subsidies on russian oil >> it is time they meet their responsibilities to the country. give the american people a break and still do very well the american people are going to judge who with is standing with them and who is only looking out for their own bottom line. >>> a federal judge blocked penguin random house deal to buy simon & schuster the merger

cac in france is down 1% watch out for the luxury names with hermes and lvmh with a lot of exposure to china as well today is definitely a risk-off session of what is happening in china. seema. >> joumanna, on that note, to our top story. unrest in cities across china amid countries over increasing covid lockdowns and restrictions in an unusual show of defidefia democnstrators are calling out for xi jinping to step down. we have eunice yoon with more. >> reporter: it is rare to see them in so many different cities, seema. the security is extra tight today here in beijing and shanghai after the protests really showed a very strong sense of defiance among the people here. arguably the most resistance we have seen since the crackdown on tiananmen square in 1989 protests held in beijing and shanghai and guangzhou and chengdu and other cities the focus of the public anger was mainly directed at the covid controls there were indications that people were angry about other things as well in fact, people were holding up white paper which they were saying is a protest against censorship some cal

the wines and spirits division of lvmh has not been able to replenish supply for the year. that is making things difficult. it is all about the pent-up demand following the initial slump from the pandemic. there are a few questions around the sustainability of the uptick will this continue is the big question as consumers still flock and heed a lot of the headwinds. see seema. >> the spirits industry. we drink during the good times and bad. arabile, thank you. >>> back to the u.s. investors gearing up for two pieces of data the latest from the empire state manufacturing index and price production index due in a few hours. giving a look on the pricing pressure easing possibly and our next guest says nothing has changed yet. kevin simpson is the founder of capital wealth planning. kevin, why one cpi print shows things are cooling is not enough for the fed? >> that is the thing the fed is looking for a meaningful decline until that, they will push the terminal rate up to the 5% target the market was right to celebrate the last week's print because 7.76% inflation is still real

lvmh is up .50%. turning to travel and leisure. you see lufthansa down the main stock we are watching today is easy jet. you see that name is down 5% today. why? the company posted a record headline ebita in the fourth quarter against a better than expected full year loss of 178 million pounds it is looking to increase bookings next year and focusing on cost. the ceo told "squawk box" earlier it will offer flight prices >> like all companies, we will try to recover the cost increases. at the same time, we will be able to offer affordable prices for customers. easyjet does really well compared to competitors in times of uncertainty and challenges for households because people gravitate toward value >>> shell will be buying gas proper are producer nature energy for $2 billion. this comes as shell is shifting to low carbon energy and comes after bp bought arcaia energy for $4 billion what is interesting about this is you are seeing more traditional oil and gas companies get involved in transition gas that is the infrastructure they ha

i still like lvmh and -- charles: really?ing about it slowing down at the upper end i do not think it will be slow through the holiday. charles: capri. >> yes. charles: i'm getting waxed on the stock. my subscribers are down 25, 30%. you think it's a hold? you think the company is doing okay? >> i think we'll see strength at aspirational side. if you're selling apparel, act sectionrieses jewelry, cosmetics, stuff you take with you going on vacation or going out, as per rational clothing on point of view of occasional stuff we'll buy stuff for the holidays. it is a good fourth quarter for businesses. it is 2023 you have to worry about. charles: thanks a lot, jan. we'll be right back, folks. ♪. ♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. now i enjoy every moment. the quiet ones and th

they got hit this quarter on china weakness, that stock up 4.3% lvmh rallying big on this news let'sn the s&p after launching a new chip code and analysts says it could be a game changer. calling genewa a monster webb bush said it should have been named domino's because it delivers kristina partsinevelos joins us. why are analysts excited >> inthought that was a good joke the street likes this, this for one, amds a has launched a chip supposed to be 54% faster and 54% less than its competition. intel has the sapphire rapid that got delayed into january. another opportunity for amd to steal market share from intel. amd announcing with the launch of the fourth generation chip that some of the customers big players, microsoft, oracle, even amazon among them helping the stock as well. and then another factor just yesterday tsmc put out their october sales numbers up 56% year over year, second highest sales month in history that's showing that market for some companies is still pretty strong and that is also helping the smh and stocks, the stock having the best week ever, smh, since 2001

. >> the core, nike, lulu and lvmh. charles: when lulu sells my size i might buy the stock.some people. charles: you know some people. see you later. thanks a lot. >> happy birthday. charles: thanks, kristen. don't look now but there is a whole lot of niches are starting to catch fire right now. i want to bring in belpointe chief strategist nevada nelson. the soxx index, rocketing. biotech rocketing. a lot of these heavily shorted names rocketing s this knee-jerk kind of stuff or opportunities in there? >> probably all of the above. last week, certainly thursday, that was a short-covering rally, that was short-covering. i don't think people were buying amazon up 13% or name i own, caesars up 20%. that is short-covering. last couple days people are repositioning trying to ride out to the end of the year. charles: david, you've been somewhat skeptical most of the year. >> yeah. how could you not be? charles: i'm not saying you've been wrong but at some point the cards change. >> yeah. charles: do you see the cards changing a little bit. >> yeah, we've had good data. these are

now betting on a quick reopening after all these lockdowns and a strong rebound in luxury spending lvmha, up 10%. kering up both they predict china's luxury spend will fully recover by this summer andgrow 6% to 8% in 2023 luxury executives talk about a return to the, quote, revenge spending of back in 2020 with surging sales of handbags, fashion and jewelry. but there are some risks to that thesis estee lauder and capri cutting outlook based on china's sale. you have china's slowing economic growth, rising youth unemployment andfinancial insecurity even among the affluent that could all reduce luxury spending going forward. china's common prosperity campaign, that's against the wealth gap, may also lead to a more quiet spending by the affluent bane cutting long-term projections for china's share of the total luxury market to half of all sales from 2025 to 40% of sales by 2030. carl >> robert, i'm curious whether we're looking at the chinese consumer on the world stage, whether we're looking at other high net worth buyers as well. how much -- do we know how much the strong dollar has aff

a lot of his stuff is travel but the thing is, lvmh did not do bad >> okay.want to talk about the big blow-up today which is back in my area of mergers and acquisitions it's a company called rodgers. makes, let's call it, components for semiconductors dupont had a deal to acquire the company, $277 a share in cash. it's not a large transaction, by any means. it was a year ago. and the termination date came, and they still had not gotten approval from the regulatory authorities in china samr is the acronym we use there. and so yesterday, given that, dupont said, we're done. we're going to pay the $162.5 million termination fee in accordance with the agreement, and we terminate. now, the fundamentals of the business since they announced it and certainly what we've seen in the market had indicated to many that if this deal were to break, it would trade down to, i had heard, $135. so there is at $126. there were those who believed the deal might break, but the preponderance of investors in it seemed to believe, perhaps we get some sort of a price cut, but an exten

holiday season you're not going to get a deal at the luxury brands and certainly luxury brands like lvmh, they're selling at full price and goods are moving out the door i also think that when we think about the retailers overall, where we see some of the weakness, some of the retailers given the teens basically have not -- don't have the same buying power as their parents. so they have been a little bit more cautious in their spending that is out there. and i think the other place where you get deals, new products, is anywhere where there is innovation. you look at on running, you should get a pair, those are the popular shoes. you look at uggs which reinvented themselves with new platform shoes and i think you still see cosmetics win. and i think ulta is going to be one of the winners there. >> 20 seconds to you, electronics, for a long time, everybody said i'm not buying fashion, i'm buying a iphone what about this year >> you had best buy reporting yesterday. i think people are looking for great deals on electronics one thing we're watching is what is happening with potential rail st