. >>> and mark mahaney says the stocks are ready to pick and why scott minerd has an update on the fed meeting. "worldwide exchange" is back after this break our internet isn't ideal... my dad made the brilliant move to get us t-mobile home internet. oh... but everybody's online during the day so we lose speeds. we've become... ...nocturnal. well... i'm up. c'mon kids. this. sucks. well if you just switch maybe you don't have to be vampires. whoa... okay, yikes. oh sorry, i wasn't thinking. we don't really use the v word. that's kind of insensitive. we prefer day-adjacent. i'll go man-pire. >>> welcome back to "worldwide exchange." we have a market flash on the interest rate complex around the world. specifically germany five-year sovereign bond yield in germany has risen to the highest level since july of 2011 it is at 1.8% right now. you see across the board yields have been ticking higher especially in the eurozone and even japan and all of this ahead of the policy meeting from the fed that starts today where the fed is expected to hike rates by .75. >>> to the energy crisis and two

microsoft, intel and alphabet all hitting fresh 52-week lows mark mahaney, head of internet strategy ly environmental factors are swamping almost everything else. but given that's the case, what is starting to, on a relative basis, seem like it's worth a look >> well, this is a very challenging environment for growth equity, for tech equity i refer to it as a pincer moving with the rising rates. they're having a few interesting outperformers that remind me and remind us all fundamentals still do matter. netflix and uber, etsy and trade desk up 24% since the middle of summer, since july 1st dramatically outperforming the market why is netflix up? a real catalyst ahead of it in terms of a new ad supported business, why is uber up they just turned the corner on profitability. i do think even in this market fundamentals matter and if you're willing to look out 12 months we'll look back and say i should have stuck in and bought, stayed in or started to accumulate some of the best fundamental stories. mega cap has those, the amazons, the googles and maybe even a facebook the risk/reward is

mark mahaney, thank you very much. lly make some gains yesterday. the nasdaq was down, but the dow and s&p managed to break the losing streak. it's the second day of september. we know august was rough. september traditionally not a great month for stocks and with all that's going on with the fed, be interesting to see how this plays out. we are off and running, the confetti is flying and a lot of between on theboard to start the session. the dow up 2 the 64 points. chevron, american express, caterpillar at the top. can we make it all 30 stocks turning green? let's get to the s&p, almost unchanged. up above 4,000, up 37 pointings. good for a 1% gain. and the nasdaq, which has really been taking a beating of late, is up about 100 points, almost one cent, is 1 -- # 1,882 on the nasdaq. big tech, all in the green. apple up, amazon up 1%, meta/facebook up 1, alphabet up a third, microsoft up .2 of a percent. now let's take a look at lululemon, up big today. susan li,,s is that because they handed many a strong report card?

stuart: sure is, mark mahaney always good. will see you again. >> [opening bell ringing] stuart: they are clapping and cheering on wall street. they look happy, but when this market opens i suspect there's going to be a lot of red ink and here we go it is now 9: 30 eastern time. it is friday, september 16. lauren: they look really happy. stuart: they are really happy. lauren: we watch this everyday they are overly enthusiastic. stuart: i guess it's a good reason why they are laughing but i'm not sure what it is. johnson & johnson is a winner, coca cola is a liver, everything else is down. j & j, coca cola are up, everything else down, dow is up 330. the s&p is down exactly 1% and the nasdaq composite is open down 1.3%. again, big tech all the way down , every single one of them. apple is down to 150, amazon 122 , meta 147, alphabet 101, and microsoft 243. want to get back to fedex because it's actually leading the market lower, and right now, it's just opened down 22%. lauren: wow. stuart: what exactly went wrong? lauren: i thi

mark mahaney is with us and i want to talk tech.eta platforms of $240. that's $100, that's right now, meta is at 140. 141. you're looking for an extraordinary gain, that's a very bullish outlook there, mark. >> well, these are volatile markets, stu. we've had extreme volatility to the downside, stocks that have been off 70% year-to-date like a netflix and meta, facebook, whose been that zip code too and you can see these stocks snapback quickly, if the right things come together so just look at what's happened in the last two months. you've had names like netflix and amazon trade up 25%, dramatically outperforming the market, because they're fundamentals have inflected up or there's a belief there's a new catalyst. fundamentals infected up with amazon, there's a belief there's a new catalyst with netflix in terms of ad revenue. we're living through a really difficult market in terms of rising interest rates and concerns over the economy but at the end of the day, i do think stocks continue to follow fundamentals, and if you can get

you could get 30% more in netflix shares because of that a d tier upcoming so remember mark mahaney saidt the recurring revenue on that. that's like billions of dollars added to the bottom line. stuart: and they are changing their business model basically that's not a restructuring but a change in the model. >> you can't binge. you can't binge peaky blinders, you used to watch that? stuart: i used to. >> so they can then of course sell ads for each week and episode. stuart: got it good stuff, susan we'll see you later. coming up president biden says what it will take for ukraine to win the war against russia. watch this. >> winning the war in ukraine is to get russia out of ukraine completely, and recognize the sovereignty. they are defeating russia. stuart: can ukraine kick the russians completely out of their country? i'll ask florida congressman and former green beret, mike waltz. according to one british newspaper prince harry's tell- all memoire release is being delayed until next year. is there a chance he could ditch the book altogether? i'll pose that question to our royal watche

evercorp isi hosting a conference with more than 30 companies from the internet sector joining us is mark mahaneydaq up 2.2% and more than 4% higher, mark. your takeaway from the conference, two names that really stood out to you. what would you tell investors? >> uber and spotify. first, sara, it was nice to be back in new york at one of these conferences seeing real investors in real person but the companies -- it was almost 40 companies we hosted. i thought uber and spotify were interesting. uber, we had the head of their ride-sharing business. there's something really interesting being rolled out called upfront pricing it's a supply challenge business right now. drivers are given upfront pricing and told how much the fares are and where the rides are going to i think that will increase driver satisfaction. you've got to get more drivers and i think this can move the needle for them. spotify, this is an inflection story. i know i said that a year ago -- >> you knew i'd reminding you. >> yes but going into '23 i think you get gross margin expansion for the first time ever for this name for a va

you know, we really got to get to the markets and i'm going to bring in mark mahaney and my oops to you been squeezed between the royal family and opening of the market you don't have much time but i want you to tell me why you like spotify so much and where you think the stocks going >> yeah, it's good to see you again, stuart. we hosted a conference in new york this week, i thought two of the most interesting companies that presented in stocks that i like are uber and spotify. spotify we like but the $230 price target, it's the global leader in music streaming and what's interesting to me is i think we'll start see seeing gross margins expand next year and get this setup for an acceleration in paid sub- growth. they have about 400 million user s all-in and i think overtime, they can get to six to 700 million just given the music as an app and here is the innovative leader in the space and it's also a stock that's been materially underperformed so you get a chance for a re-rating. stuart: $230 a share on spotify, and it's 107 now? >> yes. stuart: what's the timeframe? >> 12 months. so,