coming up, more from microsoft gaming ceo phil spencer.ld where children can play together, no matter what console they are using. that is next. this is bloomberg. ♪ emily: something else we are following -- sony raising the price of the playstation 5 console in major markets outside the u.s. by as much as 20%. it is in response to global inflation rates and currency trends impacting consumers, and creating pressure on multiple industries. i sat down with microsoft gaming ceo will spencer, to talk about the relationship with other platforms like sony. i first asked him why he is such a big proponent of cross-platform gaming. take a look at what he had to say. phil: ab happen to buy an xbox in your household and my kids buy a playstation and we want to play together, but we can't. these artificial constraints that the industry might put up for near term business dynamics, in the long run, if you take a business that is at 3 billion people and growing to 4 billion people in the next decade and say, how do we continue to grow the business, re

coming up, how microsoft hopes to change a toxic workplace culture in the gaming industry. next, this is bloomberg. >> microsoft's head of gaming says the -- if that happens, spencer will inherit a videogame hit maker with a controversial leader. i spoke with him about a wide-ranging -- in a wide-ranging interview on bloomberg 1.0. here is our conversation. >> i think big deals should be scrutinized. i think that is the role of regulators. i feel good about the progress we have been making, asking good, hard questions about whatever our intent is, what this means if you played out over five years. is this constricting the market? >> you are confident idea will happen? >> i have never done a $70 billion deal. i don't know what my competence means. the discussion we have been having seems positive. and we are actively engaged in a conversation, try to be transparent about what our motivations are. activision specifically is facing a lot of challenges here. there have been lawsuits and employee walkouts. there has been accusations of sexual harassment, sexual assault. how much

tons of transactions inside of it so if you're looking at a cloud a base like amazon luna or microsoft's game pass, you've got stable revenue, subscription business, but inside the games you've got the ability to make hit products that transact at a higher rate from consumer money. you can't do that in music, you can't do that in movies, no one's shopping during the movie. but people are shopping in the games, and i think that's where a lot of the tunt is that's where your app loving comes in with targeted advertisement, data comes in with tarting digital products to consumers. thatst the part of the market that's growing, and i think that's where fundamentally all the energy is. every other kind of entertainment product is moving towards streaming. >> so i wonder where can you isolate that opportunity because you've got bigger transaction players out there, that you can't necessarily play them for digital transactions. you've got the big app stores that are a part of apple, maybe a part of microsoft, et cetera, you're not necessarily going to get the lift off of that trend there. you've got

has aspirations with microsoft game pass to be the netflix of gaming in which you'll have ascription model to multiple devices and so thai need to own a lot more games which will also monetize the game purchases they need to buy a lot more game studios to keep adding and likely they continue to acquire beyond activision, but likely much smaller ones in the space >> so let's move on with amazon which has some restraints around it, i would think, because of concern over government coming in and saying wait a minute, we have an antitrust problem here they've recently bought a health care company and they've been active in buying content for their video service and beefing up amazon prime with sports deals. why do you think they could be active >> so all three, microsoft, amazon and google are being very careful about the regulatory issues and the possibility of the regulators getting issues and you see the activision that will likely take a year and a half for that deal to close. amazon and google are even more concerned than microsoft is for a lot of historical reasons. amazon

games. nintendo has super mario and donkey kong. if it wasn't for halo, we would not talk about microsoft and gaming today this is what they are lookinge first party title these streaming services just boost cloud service. aws just like azure is ben benefitting at microsoft. >> gene, let me bring you in here there are all of the platform dynamics in gaming. big players trying to integrate. steve was talking about amazon and google and microsoft, et cetera the game makers are trying to horizontally integrate and buy mobile gaming companies. have unity, app love and iron source and ecosystem integrate with the data and targeting and discovery. which one is going to have the biggest payoff for investors >> the biggest payoff for investors is successfully pick the publisher that gets acquired for a big multiple that is where this goes. this is an attention game. we talk about that with streaming video services i think back to 2018 and reid hastings and they compete with "fort nite." i agree with the landscape i think the real juice for investors is to be able to pick we are investors and what it is called a $20 billion company i think the

coming up later this week, don't miss my conversation with the microsoft gaming ceo. our podcast. you can find it anywhere you get your podcasts. i'm emily chang in san francisco. this is bloomberg. ♪ haidi: welcome to daybreak australia. annabelle: we are counting down to the major market opens. shery: the top stories this hour. oss

speaking of activision and microsoft, i will be speaking with microsoft's gaming ceo on the next editionf bloomberg studio 1.0. that episode is coming up this wednesday. we will be right back more bloomberg technology. this is bloomberg. ♪ emily: apple employees are pushing back against the return to office. apple asking workers to come back to to three days a week starting september 5, but hundreds of employees signed a petition calling for even more flexibly without having to be approved by managers. this at a time when the term quiet quitting is making the rounds on social media. it's not that employees actually quit, but do the bare minimum job requires to maintain a healthy work-life balance. for the second time this year, tesla is raising the price of the driver assistance program it has 215 thousand dollars in north america. the system is controversial because it requires active supervision and some critics say it doesn't live up to its full self-driving name. and moviepass is staging a comeback -- the subscription service returning labor day weekend. there'll be three price tiers

coming up, how microsoft hopes to change the workplace culture in the gaming industry. that's next. bloomberg. ♪ emily: microsoft's head of gaming says he is optimistic that the deal to buy activision blizzard will be approved. if that happens they will inherit the videogame hit maker. here is some of our conversation. >> i come at this that big deals should be scrutinized. that's the role of why regulators are in place. i feel good about the progress we have been making asking good hard questions about what is our intent, what does this mean if you play it out over five years. i feel good about it. >> you are confident it's going to happen? >> i will send the discussions we have been having seen positive. we are actively engaged in the conversations trying to be transparent about our motivations. >> activision is facing a lot of challenges. there have been lawsuits, employee walkouts, accusations of sexual harassment, sexual assault, how much did that concern you? >> we had access to data from the company before we announced the acquisition to see what the numbers were in terms of r

gaming what is that telling us? >> think of what the most important business is for microsoft right now. > but that's slowing. >> but it's not -- >> didn't -- >> they have the new thing called xbox game pass which lets you basically stream your xbox video games to anything with a screen you don't have to buy a $500 video game console we'll let you play the games anywhere we own not just activision eventually, they own mine craft and see this as a way to super charge their cloud gaming service as well which super charges, azure cloud the most important business it's not just about the gaming thing. it's also about growing cloud which is hugely important. >> some of the traders at morgan stanley were saying look, they think this was a needed re-set we hear this, right. we have to get the bad numbers out of there so that people can re-set their expectations around videogaming demand is there any reason to believe that gaming won't be growing with more importance in the years to come? i mean, you know what i'm saying. >> yeah. >> has anything fundamentally changed? >> this is why i cover gami

. >>> let's head to gaming stocks, huge changes within the industry as you're probably aware, there's been a ton of m&a, microsoft has bought a number of game makers, blizzard has yet to go to. take two, ea spiked last week on rumors this was in play for a buyout all the consolidation happening as the sector undergoes a huge generational change. microsoft investing in two big trends, cloud gaming to start steve kovach is with us taking a look at the hardware coming this fall. >> i'm calling this metaverse palooza, after a year of hype, it's time for these big companies to show their work starting this fall we're going to get the first in a wave of these virtual and augmented reality headsets mark zuckerberg says meta's new headset, code name cambria, launching first in october and early next year sony announcing it will have its playstation vr2 headset, which means a playstation 5 to actually run that's coming early next year and also early next year we're expecting to see the apple headset as well. there are lots at stake for these companies but more so with metawith all the names i just said it's the only one b

biggest contributors to the game, microsoft, apple, salesforce and home depot. you have a few exceptions. energies are weaker today. chevron, walmart and caterpillar are the drags. s&p 500 going strong up 1.6% which takes it higher for the week as we hold gains into thursday and friday. every sector is higher and technology discretionary for consumer names and communication services. and the nasdaq, the biggest one of all of 2.6%. moderna is in there as well. some big earnings lynn ayers. matter having a nice close as well. that is it for me on closing bell. see you tomorrow. >>> welcome, everybody, to overtime. you just heard the bells. we are getting star trek started as always. more earnings of at this hour. we are waiting for results from booking holdings at mgm. both good reads on the health of the consume

co-founder recentry raising a 40 million series a led by horowitz you've been in the gaming pc seat, you're at microsoft where they've got xbox which i was mentioning the question is whether roblox is a platform or just a really successful game with an economy inside it. >> i think your assessment is probably more correct, that it is more of a game that's trying to be a platform the thing about roblox is, it caters to a much younger demographic. unless -- if you think about the pandemic, kids weren't in school they were able to sort of spend money on games that parents wanted kids out of their hair. they had a massive spike during the pandemic lots of little games were being played and built on roblox unless they completely expand their demographic somehow, i don't see 5, 6-year-olds, 10-year-olds buying gucci. it's cool as a story, but they have to expand their demographic or make new acquisitions in the space to really think about down the road how do they turn this into new mixed reality experiences. there is potentially a future will. >> there's some signs they could be doing that in the sense that

you're not going to beat microsoft at this game you can raise price here and lower price there.out. for example, having a videoconference deal that's much more immersive than just a talking head in the screen they need to innovate there or maybe they should think outside of the box and say we're a realtime video streaming platform, what else can we do with this thing than just try to become another part of the microsoft universe >> they're trying to buy fivenine their story would be quite different if they were able to double down on the enterprise months ago finally, meta. is it as bad over there as it looks? is the metaverse thing going to pan out or are they really just looking for an ecosystem where they can have more margin and more control >> i think, first of all, meta i never met an idea i didn't like this is the first one. they have a real challenge outside of gaming. there are 3 billion or so gamers, but that's not what facebook is doing. they are turning a metaverse into a joke. there was a recent article saying that zuckerberg's eyes, cartoon eyes are as dead as the

nasdaq outperforming with tesla, apple, microsoft and nvidia leading the game. welcome. >> we started the week with bad news out of china, coming in the form of a surprise rate cut. after some big misses in july, you wouldn't know that looking at the price action in the u.s. equity market. green across the board with the s&p 500 closing 0.4% higher on the day and that comes off a string of four weeks of gains already propelling the index up 18% from year to date lows we saw in june. nasdaq 100 also following in the s&p 500 footsteps, up 0.7% on the day. one of the big stories is disney . you will be digging into that later but it is making headlines because of dan loeb and his company taking a stake in the company. he was not shy suggesting changes he would like to see two disney's ceo and some include potential spinoffs of espn. i know you will dig into that later. the semiconductor index, rebounding towards the end of the day. that was down earlier but finishing the day zero point 3% higher. as we take a look, you would be hard-pressed to see the impact of the

speaking of activision and microsoft, i will be speaking with the gaming ceo.e talked about the deal. this is bloomberg. ♪ emily: apple employees are pushing back against the return to office. apple is asking workers to come back, but hundreds of employees have signed a petition calling for more flexibility. this at a time where the term quiet quitting is making the rounds on social media. the idea is not that employees quit but instead do the bed minimum. for the second time this year, tesla is raising the price of what it calls. driving. the tesla system is controversial because it requires active supervision because it does not live up to its full self-driving name. moviepass is staging a comeback. the movie subscription service is returning labor day weekend. there will be three price hikes a year. no option for unlimited. coming up. his amazon buying irobot's plan you? we will talk to the rumba founder, next. this is bloomberg. ♪ pst. girl. you can do better. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 pe

the gaming industry has taken a hit video game, johns 15 millions of dollars of losses and revenue in recent weeks. in the 3 months that ended in june, microsoft, sony and nintendo each reported a fallen sales. american spent more than $12000000000.00 on games and the 2nd quarter according to market research from n p d, that's down 13 percent year on year. china's video game revenues in the 1st half of 2022 felt for the 1st time since days became available and 2008. joining us now from london is really led on better. he is a professor of economic sociology and digital social research at the oxford internet institute. that's part of the university of oxford. so really what's gone wrong for video game companies? i imagine the semiconductor shortage we've just been talking about hasn't helped diva. that's right. so 11 problem has been the supply chain crisis because manufacturers are not getting their, all their products from the consumers. but also the war rush us innovation of ukraine has led some game publishers to pull out from russia. and this is obviously had a negative impact on their revenues. and then a further reason is apple has since

games. com sees industry heavy weights like c and microsoft, as well as less and own studios and hardware makers, display the latest one, hundreds of thousands of visitors from around the world. the pandemic helped turbo charged the industry in recent years. global revenues sort above $195000000000.00 in 2021. that's more than the global film and music industry is combined. and he's a reminder of the top story we're following for you. presidents is lot amazed. lensky is valid. ukraine will fight until again, does the country months its independence day and 6 months, and the russian invasion began. authorities if one people not together in public or the fears of fresh russian air strikes. except mate takes a look at the bad behavior of the super rich. i bet that's all and i'll be back next out with who to own or not to own. what about a sharing economy instead? a change in thinking is changing the economy to create something new. the economics magazine was made in germany next on d. w. o. departure into the to day. this means flying to a foreign planet. in the 16th century, it meant being

microsoft says it'll pay that to acquire the gaming giant.mes are moving higher and as you know, where berkshire buys, it sells lately. reducing holdings in general motor, kroger and fully exiting in verizon. but it's not hurting verizon, up half a percent and kroger up 3.5% and general motor down about 1%. breaking news, folks, we need to take you live inside the state dining room at the white house. president joe biden expected to deliver remarks before signing $750 billion inflation reduction act. we'll keep on eye on the events there, bring you full reaction and the president's comments in just a few moment and to see what the markets do, if anything, and the dow is holding steady about 224 points. a sonic boom about to shake umm the airline industry as boom supersonic locks up a new customer for its ecofriendly concord throwback aircraft. you're looking at possibly the future of high speed aviation. but right now, the sector is still kind of struggling with travel flight mares, pilot shortages and more. ed baston has been battling all of

you know, microsoft is an interesting one just kind of thinking about the actual games that they'll have once the -- if the activision blizzard deal goes through and already having good dna with the xbox and success there. this could be an interesting point for microsoft to consider. although john points out they are pretty busy as it is and anything in addition would raise the eyebrows of the regulators to understand is this going to be anti-competitive? yes, all of the advertising players could actually have a look at this as john points out, thinking about where the other creator aspects are, and what tools they're using, so adobe could even be an interesting play. but look what we do know is that a lot of the learnings from gaming translate very well into other applications so i think we could see a much broader suite of services that could plug in gaming as one aspect and really advertising is the core so i think, yes those players that are deep in the advertising space could actually look at this and at least keep track of it to see whether or not it might make sense. yeah, look at

we just showed you the speculation going on in gaming stocks i clarify microsoft acquired activisiont of justice release of redacted version of the affidavit likely to give details, of why there was unprecedented search of former president trump's home. mitch roschelle is here, leo -- kelly is here, mitch what do you think we will learn from this affidavit? i mean, obviously, probableing redacted dodge did not want to release it. mitch: to heavily redacted ridiculous other things released last four, five years heavily redacted means talking heads, as i say that, are going to start speculating only going to, you know, create more doubt more suspicion that will be unfounded, unprecedented no matter how you look at it to raid the home of a former president of the united states, regardless of the justification, and i think this is going to continue. maria: it comes on the heels of a string of bad behavior around the fbi, that we know of, the russia collusion lie, where fbi agents pursuing fisa warrants to spy on trump officials they new with dossier was made up, members of hours judiciar

gaming stocks have come down. and the wizard is getting bought by microsoft. with two reports this week, let's see what they say. i would say this is a clearing effort for nvidia which will be now viewed as and industrial company. industrial and obviously data center. >> we got a preannouncement this morning from nvidia letting us know because it won't be until later this month that they will announce they are short of expectations. >> it's because they looked at it and said, wait a second, we are more than 10% off and we've got to say something. and somebody who named his late dog nvidia is hurts. i expected it to be down 20. >> >> the stock hasn't exactly been -- >> it's one of the worst in the s&p's 750 billion and right now it is $400 billion. it is still questionable. >> does it have a broader impact on the markets? we were coming in with what was looking to be a fairly strong no end. also when they say something along the lines of gaming and macroeconomic headwinds, that should have a broader implication. >> that's not supposed to happen if you can insulate it. and datacenter is still strong in supply chai

the game's sales combined with the gaming industry troubles have meant for a tough year. it has been acquired by microsoftggest operating word has been spending more than $11 billion, which is more than was offered by its rival. we have a lot more on the way. this is bloomberg. ♪ (announcer) enough with the calorie counting, carb cutting, diet fatigue, and stress. just taking one golo release capsule with three balanced meals a day has been clinically proven to repair metabolism, optimize insulin levels, and balance the hormones that make weight loss easy. release works with your body, not against it, so you can put dieting behind you and go live your life. head to golo.com now to join the over 2 million people who have found the right way to lose weight and get healthier with golo. >> from the heart of where innovation, money, and power collide, in silicon valley and beyond, this is "bloomberg technology," with emily chang.

you know, microsoft's making it easier for smaller european cloud providers so that they get in the good graces of european regulators. who as we know, are quite aggressive so, this is the gamentages and not being a monopolyist or take unfair advantage of your legacy background we see playing out again and again. >> that's right. i don't think microsoft really cares what amazon and apple thinks about this. arguably, the regulators, if it does benefit the smaller cloud providers in the eu. where it's been hit by regulatory fees in the eu, this is sort of a hat tip to them saying, we're helping out the smaller guys >> sand he's done a good job remaining teflon. >> keeps his head down. >> he's been pretty tough. >> guys, when we come back, crowdstrike beats estimate but has lost quite a bit of steam throughout the course of session. currently down about 6%. we'll get more on those numbers after break. at xfinity, we're constantly innovating. and we're working 24/7 to connect you to more of what you love. we're bringing you the nation's largest gig speed network. available to more homes than anyone else. and with xfi complete, get 10x faster upload speeds. tech upgrades for your

gaming is in a rough spot. we have seen this from companies like sony, nintendo and microsoft and we will get two more names coming up tomorrow. >> amazing what happens when the kids go back to school. things have changed. >> even though they were involved in their own section of the market, i would've thought that you would've had apple, google or amazon be a little more inquisitive in the entire marketplace and when you look at the chart it's a lot more than the other charts. >> the game is hot and everybody plays it that this was $213 and change and it is the perfect stay-at-home pandemic play and everybody stayed home and bought computers and games and peleton. >> and you say that with other games. also sales going down and pcs going down and the trend is going away. people are getting back out into the world and are saddling and doing other things and i think the trend will continue but what is interesting is there are one of those players were in a recession, they were able to increase revenue and are one of those rare companies that were of the mind that we are in impending recession and it could be an inte

services that we see from companies like sewn owe the playstation and microsoft and the xbox you pay a flat fee and it's like the netflix of gaming you pay a flat fee and you can stream the games right there and it comes with the library of hundreds games to play from. other names like i mentioned, advertising will be a big thing especially for roblox and they want to do it differently, by the way. they're coming up with a way to do metaverse advertising and not just banner ads and things that you see on the so-called flat flirt. >> steve koufax, appreciate it >> taste testing the waters on growth stocks. are any of these worth buying? three-stock lunch explores that next without ziprecruiter. they do the legwork and they get my job posting in front of the right candidates. i love invite to apply. i instantly see great candidates and i can invite them to apply. we have hired across all departments, engineering, marketing, hardware, field techs. you can basically tell ziprecruiter who you need, when you need it, and they deliver. - [narrator] ziprecruiter. rated the number one hiring site. try it for free at ziprecruiter.com try i

. >> microsoft was really dead money for about a decade but it's been anything but and it's -- and it seems to have done a masterful job at diversifying what it does. it's in gaming, it's in the cloud, it's in its basic business services things and so forth. it's got linkedin, which is an extremely potent tool, and you like microsoft a lot >> we do, and i think the cfo amy hood gave us good guidance that the fiscal year 2023 they're going to continue to produce double digit growth. dividend grows 9% annualized and you are not getting much of a deal because the stock has appreciated so much. shout out to microsoft, you can raise the dividend a lot more in coming years. >> all right. >> i think it's a great holding, it's stock you can own for a lifetime. >> nancy, very nice to see you again. nancy tengler. >>> crude oil slipping 3% right now, opec agreeing to raise production, but by a very small amount we will get to the number in just a minute with brian sullivan who joins us with the latest brian, that increase was barely an increase. >> i mean, you could almost call it a cut in some ways, tyler anybody hoping for a big output increase from opec was certainly di

now the video game company which agreed to be acquired by microsoft in january, $1.64 billion, roughlyck off marginally because of that bid from microsoft and take a hoolook at uber they reported quarterly loss of $1.33 per share, but its net loss of $2.6 billion shows unrealized, $8.07 billion, beating the consensus of $7.39 billion. that stock up big time this morning, joe up about 12.5% uber's ceo will be joining us later in the morning to break it all down >>> brian deese is going to join us then bill ackman of pershing square will be our guest "squawk box" coming right back >>> welcome back to "squawk box. earnings and the july jobs report in focus for investors right now. joining us, mohammad el erian. he serves as president of cambridge university's queen's college. it's great to see you. before we get into what we're seeing in earnings and jobs, let me get your take on nancy pelosi visiting taiwan and the anxiety that it seems to be creating in the markets. >> actually, andrew, it's creat creating less anxiety than expected china has a whole range of tools to use if it chooses

game out. liz: you know consumer credit has been an area that you specifically looked at. you feel comfortable enough to buy certain names like mcdonald's, microsoft and chevron. can you explain to our viewers how you picked those names? what is it about them above what you just articulated? >> sure. all of them are very high quality companies. they have rock solid balance sheets, high liquidity but for example, microsoft, did you know that they have been growing their dividend at 9.6% per year over the last five years? mcdonald's, growing its dividend at almost 8%. so if you're thinking about trying to generate income pro your portfolio and have that income stay ahead of inflation, these are the companies that will likely do it. in fact, equity dividend have a long history of staying ahead of inflation. liz: i don't know. if you look at the federal reserve bank presidents saying we're not done. people cannot have it both ways, can they jack? they want to see a vibrant economy and lower prices? where does that put the equity market? >> well, the equity market is really taking a lot of its cues from the bond market. and the bond market is pretty op

microsoft and nvidia. we find out why was sold salesforce and apple and netflix. he is all that seems to matter. okay. the bottom line? until jackson hole we have to play a guessing game about why the stocks are going down and for the moment, the answer is no reason at all. jerry in florida. jerry? 3 hey going to give you a shout out from south beach miami. how are you? >> south beach miami tends to be a nicer area. i'm glad your calling. >> i have been down here since 1975. i wanted to tell you i'm basking in the joy of palo alto. they had a fantastic quarter and i'm sure you know that already. >> better than fantastic. >> that's one of your favorite stocks and i wanted to get your take on one of your other favorite stocks you named your dog after, nvidia and i am thinking about picking up some shares. >> that dog did pass away so let's be a little circumspect. nvidia preannounced a not good quarter. the previous time they did that the next quarter was similarly and they said negative things. if you want to buy nvidia please wait until after the conference call. do we have time for one more question? oh, that is it. holy cow. i thought i did my absolute best. is actu

the decline in game and they're focusing on the sequential growth in the data center business and micron holding up and advanced micro sales force had poor numbers, alphabet, apple, microsoftpretty well, and the other key component here is the defensive sector so big pharma has been weak recently we've seen merck and some of the big names like bristol-myers in the downside and even some of the consumer staples names like kroger and kimberly-clark. we see growth up and defensive stocks are down and the market isn't acting like there will be imminent bad news coming from jay powell >> seema, back to you. >> nice positioning. bob, thank you now to the bond market where the ten-year yield is hitting session lows after james bullard's comments on the show rick santelli tracking the action rick >> yes there are so many dynamics going on, seema? look at the intraday of seven year and it was the last of our auctions and boy, it was the best of breed. as you look at that, you can see at 1:00 how yields dropped yields dropped because of the buying every investor saw when the results of the auction came out. it sounds sort of -- well, incongruent with all of the information we've had

microsoft is the worst one down 9%. at the same time the more speculative group have held most of their gains and they're off of their highs and they've held most of their gamesa, teladoc how much further can you push the growth stock story when you've already had very big gains and 20% gains in terms of some of the stocks in the last few weeks on top of a warning or poor guidance from nvidia. it's been a tough day for that >> we'll have more on that in a moment thank you very much. our bob pisani elsewhere in the bond market, yields are lower and the ten-year down 2.77% falling just a couple of bases points there the two-year falling, but not quite as much making the inverted spread people follow even wider that said, the three-month spread which i like to think is a more reliable predictor of recession, maybe that buys us a year or so before the big "r" event. pippa stephens at the commodity desk with her numbers. >> hey, kelly. oil reversing oil losses and closing here in the green. wti regaining the $90 level although just barely and think, both wti and brent are coming off a brutal weak with brent registering the largest five-day drop since 2020 as royal

a broad reach on the creative as well as the enterprise and microsoft looks really good right now because they've got the cloud and the gamingre stocks that are going to be here for quite some time. jackie: if you're set to hold for the long term, ray, the stock that you mentioned seem to be a good bet and a lot of investors are trying to not think about the day-to-day volatility for the long-term strategy together. seems to be one of the only things you can do in this environment. brian, ray, keith, great to see you all this morning. thank you. all right. much more ahead this morning. coming up, president biden pinning the blame on republicans for the country's surge in violent crime even after his campaign promise of uniting the done. country, more on that, next. a major filing from the justice department on the mar-a-lago raid one day before a federal judge is expected to hear the motion in court. jason chaffetz coming up to talk about that. joining the conversation all morning long, james freeman and brandon arnold. great to be with you both this morning. you're watching "mornings with maria" live on fox business. ♪ hey,

microsoft, beat estimates, raised guidance, buying back stock, raising dividends, getting upgrades, short something like meta, facebook, keep missing numbers, lowering guidance. for a time there they rifled our information, stole information, sold third parties. that game investment. they will not see return of capital. that is little niche. i would pair trade, long microsoft, short facebook if you want to play the tech pairs. charles: ken, appreciate it. thank you so much, my man. >> thank you. charles: folks, coming up lots of responses to you from yesterday's takeaway about dream jobs. young americans not dreaming anymore. i will read some of them right after this. ♪ it■s hard eating healthy. unless you happen to be a dog. moving forward with node- positive breast cancer is overwhelming. but i never just found my way; i made it. and did all i could to prevent recurrence. verzenio reduces the risk of recurrence of hr-positive, her2-negative, node-positive, early breast cancer with a high chance of returning,... as determined by your doctor when added to hormone therapy. hormone therapy works outside the cell... ...while verzenio works inside to help stop the growth of cancer cells. diarrhea is common, may be severe, or cause dehydration or infection.

microsoft all feeling the pain you've got even tech hardware companies like logitech that have had the cut their full-year outlook because of this slowdown. >> i think there's a natural trough happening in gamingelieve it will snap all the way back to where we were a year ago in a month or two i think as we head into fall, i think the game market will get a little more solid. >> it's all about perspective. logitech expanded by 84% last year that's a pretty high bar to match. it also sits on over $1 billion in net cash, a cushion for a possible prolonged economic slowdown >> we've really had an amazing period with incomes up, employment up, everything up, up, up i'm sure we are. i think we are technically in a recession now. it doesn't exactly feel like the recessions of the 80s. >> gaming was once considered recession-proof. there's still debate about that. it's an industry that is massive, a market larger than the movie and music industries combined the gamal year end will be ahead of prepandemic performance with growth returning next year can investors wait it out? >> wow, i had no idea it was bigger than movie and music business combined. that is massive. kristina, thank you. >>> bet, bath

amazon tie up, usa today, a gaming website that amazon bid, ea could be imminent as soon as today so there is talk of a $40 billion price tag was. you have to remember microsofthas been trying to sell itself, they've been in talks to comcast, apple, disney, and amazon about a possible sale according to previous reports and that is the future when you have gaming bigger than movies and music combined, a lot of these companies want to expand in that industry. jay powell is more aggressive talking more pain to come to bring down inflation, big tech is leading the losses and treasury yields going up, you heard powell say they could increase rates in the future so expectations are that the fed will keep hiking rates possibly aggressively to bring down prices and that means yields go up and when you have more guaranteed money on government bonds, money needs to come out of stocks in order to chase guaranteed money on treasuries and that is why stock is down, treasury yields higher. ashley: what is interesting is i think everyone on this show has predicted jay powell was going to be aggressive. we heard from all the other fed officials singing from the same song she

microsoft which would be $65-70 billion range. i think there's definitely going to be unique in in this report card can, i think most people expect a slowdown when it comes to that gamingstuart: pinterest. susan: also we have activist investors in pinterest, and given the slowdown we've seen in advertising revenue and also a slowdown in usage that we've seen in pinterest namely, we got the numbers from meta, also snap has confirmed this is a reality that we're in. stuart: is this a big afternoon for you, dan? >> look, it's big because really in terms of the next leg, it's going to be cybersecurity. that's really the one area we haven't seen, and i believe it's continuing to hold up stronger, see the earnings. come bind that with cloud, that's the one-two punch. stuart: okay. susan: palo alto was an upgrade by wolf saying there's 40% upside. would you buy into the big names like pal lows and the rest of the cyber? >> palo is one of our favorite names. cybersecurity across the board, maims like zscaleer, i think a lot of these things are have overcorrect ared. but you looked at sentiment, much different in terms of spending. stuart: that's what i was looking for, a table