we sit down with meda ceo susan li. we also speak to the ceo from plaid.aroline: do you love your tesla or the man he was building them? first, we tackled this market. a macro picture firing on all syllables. mastec coming off of its high, up 0.94%. we see the consumer looking strong does the fed still have to act. we saw two year yields push up 0.06. in terms of macro policy in europe, it is a much worse picture in terms of economic growth. the euro go slower versus the u.s. dollar so we are down by 0.8%. crypto was on the downside by 1%. when it comes to the u.s. economy is some of the micro pictures we get from businesses with their earnings. ed: we are in full sand with earnings. this is the maker of invisible line, earnings above expectation . not a name that we talk a lot but interesting a performance. comcast is doing better than expected despite losing subscribers and the internet and tv space but the scales are up 6.25%. ebay down 8.62%. that is the worst performer. the main story is meda and what is driving shares higher is the forecast of the cu

this is not the first time facebook or meda has cloned some other social media app to see they have aompetitive edge. it's just twitter without the rams and current discourse that happened on there right now. having joined just this morning it's very interesting to note that our own karen choi joined us now. clearly we are getting into some sort of battle. >> how do you get that many followers? >> be cut is linked to your instagram account it allows you to invite all the people all the people from instagram to this app. more than 1 billion users. facebook has nearly 3 billion people on the platform. the numbers are staggering. it does have potential by the numbers. whether it can reach that, we will have to wait to see. >> at super interesting because you draw on your existing popularity on instagram because historically some people have major followings on twitter and measly followers on instagram and vice versa. i wonder if this will change who ultimately has influence on the platform? >> it will and you are right because take a look at my numbers. there's 114 thousand people that f

the good fight and we are looking at meda and gordon dragon. i am looking at tencent all on the downside and it is showing some worries about the weakness in the chinese economy. let's look at the individual movements. meta platforms outperforming in terms of trying to pull out the rest of the tech indices. we have the threats, the new twitter take on from meda that will be launching tomorrow. rivian also getting a bit up 1.4% as they export their trips to europe. a key player when it comes to amazon. we will go to at low as he has a great interview coming up and i am looking at the chip sector because this has all to do with geopolitics and all to do with the words of the key metals, the rare earth that china is learning to the u.s. will have an impact on the likes of intel, on the downside. we are off by 1.6% if you're looking at the overall stock index. focus on ships. --chips. janet yellen is visiting china trying to find areas of common economic ground. just days after china imposed those rejections on exporting key metals that are crucial

>> reporter: this is because jordan does not think that meda has complied with their subpoena for internald information related to what the judiciary committee is investigating which is alleged censorship on meta's platforms. jordan has been asking for internal communications, he was in the minority, the judiciary committee officially issued meta a subpoena for documentation in february of this year. in may jordan followed up that the company's response so far was insufficient, they were failing to comply with the subpoena request for internal communications. among meta employees including meeting notes, discussions and recommendations related to content moderation and disinformation. jordan says meta failed to hand those documents over. >> facebook was censoring americans because a federal court said so two weeks ago, laid out 86 pages of facts with facebook and federal agencies and other big tech companies. we don't want this to be going on, this is an attack on the first amendment. we want the information we asked for months ago. if they don't give it to us we can move ahead with contem

let's get back to meda.n talking about threats, it's officially out and we heard a potential twitter killer yesterday so right out of the gate, okay. >> we have the numbers for the first seven hours of their global launch, over 100 countries and over 10 million users so that's good. before we celebrate, investors clearly are. this is a warning from wells fargo, limited revenue opportunity versus potential for more privacy scrutiny, really going into social media and letting people basically say what they want in this social square, it comes with risk. i wanted to show you this, mark zuckerberg tweeted for the first time in 11 years, is just that, a spider-man meme. ashley: waited 11 years for that? >> i'm trying to do it better so that's what that's about. ashley: these billionaires poking at each other. you never know. >> characteristic for mark zuckerberg, very characteristic for elon musk. ashley: morgan stanley boosting the price target, it goes back to the ai race. >> 335 to $415 price target 22% increa

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by the way, i found where this andrey from the first meda works, he is very good, they say to the quietan clearly has heart problems, it seems that our version with a student's past is confirmed. fine. just killed roman cities. lord god, romka was killed and how? why did you know him? during your student days? yes? well, yes. yes, of course, we knew each other, classmate. petrova gennady says that you broke up with the guys from that company after one of the parties, what happened there nothing. i have always been the people's body in this company. at first we were interested together, but then something happened that was supposed to happen. we broke up, and the party is such a coincidence. my practice started like this what happened at the party anyway. sergei petrov's parents were visiting. he invited us to his place. as you can see, everyone lived happily for another 18 years, until this killer of yours began to shoot them. well, maybe this party made him take up arms. that is, you want to say that someone is so inhibited that it took him 18 years to decide to kill everyone. well, yo

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i'm not sure threads was ready for prime time but meda says we have to launch now. >> zuckerberg came swinging with the launch. it was actually threads downloaded in the 24 hours by 30 million people that is a record. it is up to 70 million now. elon musk does not like this, he is accused meta of stealing trade secrets, this is something that meta definitely has denied but the back-and-forth is on. jack: no question about it when we look at threads we should explain for those who have not seen it looks like twitter. ask differently but visually. >> it is a twitter clone and no one is denying that. i think zuckerberg has big aspirations potentially he said if we can get a billion people on this app we can really monetize this. that would be almost three times as many people on twitter so i think the bar is extremely high, right now it's very basic, there are no ads, you cannot search, this is an app that needs a lot of development. they've got people on their the question will they stay and will they get addicted. >> will they become part of the conversation that is not easy to do. my

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- all of it and meda, that one man control so much power?and i will— control so much power? bruce run up a point in that and i will be _ a point in that and i will be honest. i_ a point in that and i will be honest, iwas— a point in that and i will be honest, i was hesitant - a point in that and i will be honest, i was hesitant to l a point in that and i will be . honest, i was hesitant tojoin a point in that and i will be - honest, i was hesitant tojoin but i did join— honest, i was hesitant tojoin but i did join because _ honest, i was hesitant tojoin but i did join because it— honest, i was hesitant tojoin but i did join because it was _ honest, i was hesitant tojoin but i did join because it was so- honest, i was hesitant tojoin but i did join because it was so easy. i honest, i was hesitant tojoin but i. did join because it was so easy. and as he _ did join because it was so easy. and as he mentioned _ did join because it was so easy. and as he mentioned it, _ did join because it was so easy. and as he mentioned it, wanted - did join be

question is transparency for that what were talking about transparency where talking about the fact that medaabout —— metaphor that they spoke about —— metaphor that they don't understand the risks. and some of the risk we've already experience with the ai models are biased. discrimination or disseminate information and bolso does and michael want to say their model spews the same kind of toxic behavior. when it comes to trust and accountability those challenges are still there for the we've got to think those apical guardrails. this technology on society.— think those apical guardrails. this technology on society. we've had an announcement _ technology on society. we've had an announcement in _ technology on society. we've had an announcement in the _ technology on society. we've had an announcement in the past _ technology on society. we've had an announcement in the past week- technology on society. we've had an| announcement in the past week from elon musk for is developing his own platform, googles barges up to a0 countries. do you think is a risk that the ai is just populated by big fis

minor reports tonight assume are to the numbers, meda is doing very well, is it $300 a share. let's get to the big picture, dow up 12 sessions straight that gained 5% in that time. if it goes up again, the longest streak ever. the dow looks to a loss of 100 words, s&p done ten, nasdaq done maybe 50 points. mark is scheduled for 2:00 p.m. eastern today when jay powell tells us there's another rate hike on top. gas prices are starting to rise and rise sharply. regular $3.68, nationwide and that is a 5 cents overnight. diesel is moving up. up to cents to an average of 392 a gallon. a big day in politics, even before today's court hearing, drama swirling on hunter biden. jason smith wants evidence of political interference included in the hearing. the judge in the case accused one of hunter's lawyers, misrepresenting herself to remove damaging material. lawyers say it's unfortunate and unintentional this commun communication. hunter appears in court an hour from now on misdemeanor tax and in churches. "wall street journal" says you go to prison for what hunter biden did. then impe

meda, ebay and mattel will be reporting. the big one is the fed decision.s expected to hike by 25 basis points. the questions surround what comes after that. here's morgan stanley's chief economist. >> this is a boardroom of folks who disagree. what are the disagreements? how many more lags of policy have to come through the impact the economy? how much will inflation come down further? you have got hawks and doves that have two different opinions about where this should go. views are all over the place and that leads to policy paralysis. kailey: michael mckee is joining us now. mike, it seems like it is going to be difficult for him to navigate. even if the were done, he cannot say that. and he is trying to speak for a committee that seems divided. mike: if you not have a lot to say, do not say it. probably his statement will be straightforward. they will change the language about pausing but still look at what they might need to do and how they are going to look at the economy going forward in terms of possible additional tightening. they will raise rates

he made the point that all that meda has to do is converts only one out of every 10 of its users acrossebook, instagram, whatsapp, to eclipse what twitter was able to achieve. think about the billions of users that facebook has on its platforms. they just need to convert a small percentage to get more than the 250 million that twitter has. alix: they also have to monetize it and there in lies the problem. what is the plan so it doesn't end up looking like instagram? ed: an analyst out with a note saying it is hard to see how threads reaches critical mass to take on twitter. another raising a price target on the stock, saying in the near term, it is hard to see how this materially impacts financials. longer-term, advertising. that goes back to we started the conversation on. it is very clean, no advertisements currently, and contrast that with twitter where there are all sorts of things in the timeline. guy: this is nice and great but may not move the financial dial. ai is going to move the dial, particularly for microsoft. it is clear which one of these big tech companies is become the

we sit down with meda ceo susan li. we also speak to the ceo from plaid

red hat and meda >> coming to the city and hoa 24. it >> is not something we are way to turn around quickly. there are organizations deciding not to hold their events in san francisco. we will probably see more of that. >> a financial hit that is no surprise for the san francisco travel association. according to their projections 2024 continues to be a challenging year for conventions in the city. there expecting to see 60% of average convention activity next year. a peruvian restaurant across from the center opened less than two months ago. they chose this location with convention traffic in mind. >> it is kind of scary. hopefully with tourists, back up and things are going to start coming back alive. these events were like super big so i don't know how it is going to affect us. >> alex is hopeful that their menu will attract more locals. same goes for the barbershop across from the center. they are hoping for more traffic. >> a lot of business around here has been kind of slow due to other businesses closing. i want to say maybe due

i think it'll have a massive competitive advantage if you look at when meda or instagram rolled out storiesnline mobile focus competitors. it really, really hurt them and i think you see something very similar here. charles: before i let you go tomorrow we have the jobs report in your data gives you insights on things like that as well we had an amazing adp report today. what is your sense of what we might see you tomorrow? >> i think you cannot really look at the data that we are seeing which we are processing a trillion marketing signals to the artificial intelligence data in some cases and not see how strong the economy is. i'm old enough to remember when we wanted a stronger economy. now when we have a strong economy the market goes down but i think the fed has been clear in their notes and messaging in their thinking about raising rates in the streets expect to introduce him to 5000 new jobs, 3.6% unemployment. based on adp report at 497 and you look at what were seeing as it relates i think you get to see a much higher job creation ministry is expected and i think that's priced into t

but we don't hear much about the judges in dc judge amy berman, jackson, judge meda and others who make sorts of extraneous, unnecessary comments maligning for president trump. we don't hear about who appointed them and about those comments and how those comments as you pointed out in the monologue affect jury polls, jury pool rules directly. it's very dangerous. it's time for the civil libertarians. if there any left in this country to wake the hell up. it's time to understand that when you have legal analysts and former this form of that going on tv and saying, well, i'm looking at the indictment. you better pull out of the weeds folks and see exactly what's taking place here. these leaks are intended to influence the outcome of these cases, and these leaks are intended to affect the upcoming election. this has never before happened in american history, and it's all being done. behind the imprimatur of oh, it's an investigation. and don't you trust the fbi and no, i don't. no i don't. we're talking about an individual liberty here. let me ask you another question. we have another judg

facebook changed to meda. alphabet was originally google.e are all showing the power of elon musk as its executive chairman. linda yaccarino, the ceo of the business, is telling us that x is about unlimited interactivity. this is about audio, video, and about payments as well. dani: and yes, as you say, it shows how quickly basically overnight -- i go to sleep at grandparent hours, but when i woke up, all of this changed. that is the power of elon musk. what about the power of the twitter brand? how powerful is that, and what does it mean to lose it? caroline: many are working -- we have people who used to work at twitter and they might be the ones to shout the loudest. brand experts say you are undoing years of a globally known brand -- the color, the logo everybody associates it with. the power, the politicians, the media that use this app, people are going to be feeling uncomfortable with these changes. what does that mean for the $44 billion that elon purchased this with? what does it mean for the other shareholders that joined alongside

tesla is a little later, but next week, when you get alphabet, meda, marcus off, early august, that is going to define the early -- earning seasons for a lot of seasons -- people, especially in 2023. >> your thoughts on this, take it to the credit. amanda was brilliant, i thought, just on slicing and dicing this. what does credit say about our witty bullishness. >> i think what you are seeing, broadly is a risk on field. the question is, what are the fundamentals, and where do they bite more, especially as we see some of the big bank earnings demonstrating that restraint in lending. we could get a default cycle, even if we don't get a recession. there will be companies that will have a difficult time paying back their bills, refinancing, cutting debt loads, akin to what carvana is trying to do or achieving that, but on a broader level, this speaks to the near term. potentially, momentum continuing, and longer-term. at some point, fundamentals matter. >> can i point out the 4701 year out from now? it is up 4%. that is how -- it is super bowl is from a months ago. quick super bullish, an

meda has been up in the premarket from a percent to 9% much of this money.the fifth-best performing stock on the s&p 500 so far your today. that is up by 100%. came up with earnings moments ago, raising full-year guidance. full-year adjusted eps, six dollars to $6.20. $4.40. lisa: which is why you are seeing this stocks surge higher. it has come off some of the earlier highs. how much longer can consumers keep spending on vacation? is this a secular shift? we also saw hertz earnings beating expectations. have you rented a car recently? it is really high. and people are still paying them. i will point to people run out of cash? it is not happening. jonathan: royal caribbean, the stock is up 9%. we have touched on the most important theme, discretionary spending. discretionary spending has been a massive theme for this year. the airlines are up big. american, united, delta. the cruise line operators, three of the top performing 10 stocks on the s&p 500, royal caribbean, carnival. there was a third in their -- a third in there as well. does that last beyond the

recent memory certainly has been spent and it's not just the money they spent but lobbying for example meda and lakewood facebook, $20,070,000, amazon 19,320,000, alphabet 11,770,000, apple, $6,500,000. but it's not just the money they spent on lobbying and of those activities. on june 18th, 2021 just five days before the markup hearing of the big tech bills in this committee, paul pelosi, nancy pelosi's tech investor husband bought 4,000 shares of alphabet via a call option in which he promised stocks the price of $1,200 a share. a month later, now this is after we passed the bills, but nancy pelosi the speaker send steny hoyer the majority leader to the press to tell the press that these bills were not ready for the floor. a month later the stock price rose to over $2,500 making paul pelosi $5.2 million richer without spending a penny. speaker pelosi's offices issued a statement denying any involvement or prior knowledge of the transaction. the fact remains that she refused to bring to a vote on the house floor those bills. the bills that resulted from an 18 month long investigation. we h