that's why the dow has not gotten hit as dramatically as say for example, the nasdaq or the nasdaq 100is there anything you recommend about investing when it comes to big names that do have profits? >> well, certainly, we'll leave that to others who are equity specialists to give specific valuation advice, but i would say where you've started was this all is being driven by aggressive federal reserve board action, along with central banks throughout the world. as long term investors, whether you're bond investors or equity investors, you want your central banks to be resolved, fight inflation and inflation expectations, and that is what jay powell's message yesterday was, as people slept on it and thought about it and so that resolve is, we think, important in the long term best interest of all investors. liz: not keith. i don't think keith slept on it, but that's what makes this kind of discussion valuable to our investment audience. thank you, both very much. keith and mary ellen, it's a pleasure to have you both, thank you. rising interest rates were supposed to have at least one po

some of the largest stocks in the nasdaq are leading the way, playing catchup. you see the nasdaq up about 2 2.5% look at some of the names leading for now, some of the more beat-up ones. we have tesla up 6%, illumina, is bouncing today as well. coming up on today's show, market expert tom mcclellan says there are some encouraging signs for the nasdaq in the new year, if you know where to look. he will join us soon to explain all of that. plus, the inside scoop on tesla, elon musk sending a letter to staff telling them not to be bothered by stock market craziness, but how do employees feel about it? we've got the details. >>> let's take a look at how this rally on the day, this comeback that gets us positive for the week, shapes up in the broader context here 3800 on the s&p has been pretty sticky in the last couple of weeks. the second half of december normally strong. hasn't really shown up until today. signs that some of the year-end selling of the losers' portfolio, the manicuring might have run its course. you see here, we're still kind of in this range we'

but today nasdaq couldn't hold on to fgains. so what does that say about next year >> and it was really just a bounce back after such meaningful losses the past several sessions such a dramatic transformation of the tech sector over the past year and we're seeing the declines tesla now down about half a percent. and as china starts to ease its tech crackdown, our next guest thinks it is time to hop back into tech names such as alibaba and tencent. joining us now is our tech investor give us big picture, why are you so bullish and how much has to do with the reopening of china >> it has to do less with reopening of china and more to do with the underlying business trend and valuations that we're getting from these companies today. short version is these are excellent businesses very few companies that you can count on fingers of your two hands that generate $15 billion, $20 billion in free cash flow every year alibaba and ten cencent are two those names. but their business is going through a bit of a change, but the risks are so

nasdaq on course for its worst annual performance since 2008.ear for the tech-heavy nasdaq, down a quarter of a percent and talking of big tech microsoft essentially flat but all of the others are down, amazon slightly, meta down a quarter of a percent, alphabet down half a percent, apple too down six- tenths of a percent. let's take a broader look at the nasdaq as i was talking about it is on track for its worst performance since 2008. it's down over 8% this month alone. jeff, come back in here. how concerned should investors be about nasdaq's performance. what does it tell us? >> i mean, ashley, if you remember there was a time when technology drove the market where up to 50% of the market or more was tech-driven, you could have threw a dart at a board for a tech stock and whatever tech stock you hit would rally. now, you have these stocks which are getting hit. now keep in mind, a lot of these companies are very centered on the weaker dollar, as the federal reserve raises interest rates, it's going to affect earnings. i anticipate we'll see e

nasdaq downld be another rough day for the markets. we appreciate you being with us. " "squawk box" will pick it up next i'll see you next week on the noon show. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to 60% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. >>> good morning futures pointing to quite a bit more selling of wall street on the options friday central bankers signal there's more work to do to get inflation under control. >>> more twitter controversy elon musk banned journalists who covered him. he said they posted links to his real-time location which he called in his words assassinatio

the dow is up 500, the nasdaq is up 390 points.me of the areas of the market that are doing particularly well this morning. consumer discretionary stocks, that's what they are called like caesars, mohawk industries, d. r. horton, i should say what else have we got to show you, leading industry? we don't have anything else okay i'm moving on. >> consumer discretionary. stuart: i often wonder what stocks are consumer discretionary. >> now you know. stuart: what you want to spend your money on i guess. millions are bracing for a massive winter storm and it could make travel a lot more difficult for the holidays and look whose here. fox weather, brita merwin is with me so first question whose going to get hit the hardest? >> really the planes but you have to look at this storm as a whole. this is a massive storm we have blizzards happening in the dakotas and then we have been tracking confirmed tornado es moving through the metroplex of fort worth and dallas. look at this imagery out of south dakota. this makes a blizzard really, you k

the nasdaq, the day's biggest laggard.daq is only 3% from its 52-week lows how much longer will the pain last and how do you position here let's ask delano sapporo why are we down so much today? >> happy holidays, kelly it was surprising yesterday when we kind of had a big jump, but there are clearer reasons in my mind why we're down today. even though we had consumer confidence numbers yesterday, inflation is still outpacing wages. we have an eight straight months and so yesterday's rally was kind of a surprise to me if you look at the macro economic numbers, especially on the consumer side, it shows that we're kind of weakening in that area inflation adjusted, retail sales are negative and it's pointing to a consumer that's getting weaker think of some of the things happening in the auto market we're seeing repositions happening at a much higher rate. so i think that the consumer may be weakening a little bit. >> do you think part of it is the bullwhip effect to now potentially being on the flip side of that from that va

likely names you don't associate with the nasdaq. trucker, old dominion moving the tech heavy index higher today as investors looking for other names in the nasdaq. and moderna having the biggest positive impact on the index in december in fact, it is one of only ten stocks moving the nasdaq 100 higher this month. back over to you. >> frank, taking it broader than the nasdaq, you know who's having a great year so far t-mobile up 20% box is up 17.5%. and ibm is up 5% on the flip side, more of those kind of newer start up names in carvana and vroom. affirm is down 91. of course coinbase as well it's just been a gut punch of a year for those cutting edge type of stocks. i mean, nobody is talking about t-mobile and ibm shaking things up but a lot of folks left box by the wayside after that activist pressure but some of those slow and steady it is the year of the tortoise. >> ibm, cisco, s&p, all of them having strong quarters i see a difficult few vehicles really, i think it depends on the exact business i was talking about this yesterda

the nasdaq is almost three times the debt-to-equity compared to the s&p 500.y high growth tech companies are going to have a hard time in 2023. ashley: well, that's interesting you should bring that up. i think of the 11 sectors in the s&p this year only two are on the plus side, energy and utilities and utilities barely. in this kind of doom-and-glam environment that we hear so often from analysts what as an investor should you do? do you run and hide, put your cash under the pillow? >> i think you have to be patient until about middle of next year. there's going to be some pain next year, there's no getting around tax heck, the federal reserve is intentionally inflicting pain to cool demand on inflation, but i don't think a credit crisis is likely to happen or any kind of horrific thing because the federal reserve and the federal government seem to always be there to back-stop everything in today's world. if defaults started to rise and unemployment goes higher then what's needed to combat inflation all the federal reserve would do is lower rates and all the

four to one declining to advancing on the nasdaq 100. take a look at the qqq really it's some separation here spot biggest stocks of the weakest, and the equal-weighted version is where the market cap version is and is the volt tilt index on this leg lower people still expect in relative holiday thin trading. >>> as we head into the close, we're down about 350 that's the low point of the day. >> there's the s&p, every sector is going to close lower on the day. what's being hit the hardest down 2%, the worst performing sector down 1.3, are all the biggest there. small cast -- and worry about china's reopening. that's it for me today now into "overtime" with scott wapner >>> all right, sara, thank you very much. i'm scott wapner we're at the new york stock exchange in just a bit i'll speak to dr. scott gottlieb on the worsening, even as that company loosens some restrictions. and we'll find out what it all means for already nervous investors.

dow, s&p and nasdaq all sinking on the session and s&p 500 and nasdaq heading for the third negative session in the last four and of course the nasdaq looking at two year low and contributing to the losses are declines in energy. eqt at the bottom of the s&p 500, down more than six%. we're also seeing a selloff in tech related names and chinese adrs and pinduoduo and jd buyer all down about four% and today's action adding to the gut wrenching declines and to put it all in perspective, the s&p 500 is seeing its worst decline since the financial crisis back in 2008. those are pretty stark figures all around on your screen, including for one of the top tech names over the past decade, apple is the worst performer on the dow today, down nearly two% -- almost three% there but that number pales in comparison. another household name feeling the name is tesla. it's up about two% today. but down 68% year to date and by the way, yesterday ark invest cathy woods picked up 25,000 shares of tesla at its lows and see if that pays off. listen, not all is lost. our traders are eyeing stocks that cou

and percentage wise it is even worse much worse on nasdaq over 2.5% fall on the nasdaq so a little moreat coming up. meanwhile, norad gearing up for 67th year of tracking santa's sleigh we're going tell you when the big guy starts his around the world christmas journey and how you can watch it live right after this. ♪ ♪ when you're through with powering through, it's time for theraflu hot liquid medicine. powerful relief so you can restore and recover. theraflu hot beats cold. nevada gold exploration is at record levels, and getchell gold has just released its first resource estimate. with major discoveries in nevada and results still coming in, they're set for unprecedented growth. getchell gold. david: good news for christmas fan of the holiday now you can stay in one of the homes that inspired the movie. roll tape. >> i'm here. i'm here. as one door closes -- that will be interesting. another one opens. oh. >> that was from the trailer, obviously, the home which is in the u.k. inspired kate winslet english cottage and now available to rent on airbnb sold out for christmas but there a

nasdaq up 2.5% tesla leading the s&p right now up almost 9% >> laggards leading at least for a day. >> that's going to do it for us. "tech check" starts now. >> good thursday morning welcome to "tech check." i'm deerd yeah bosa with julia boorstin and frank holland we're discussing streamers shifting their focus among recession concerns we'll cover the stocks set to benefit. plus, tesla continues to be a battleground stock, down almost 40% for the month of december but it's rebounding strongly today. so is it time to buy the dip >> plus, we have exclusive data on the fintech sector pointing to more volatility in the new year we'll discuss how to play it and is there more cybersecurity opportunity ahead? we have the 2023 sector playbook julia, as the nasdaq is off to a very strong start to the session. >> that's right, dee we're going to start the feed with streaming 2022 has been a rough year for the median streaming giants and now there is growing concern about the impact of a recession. year to date, netflix shares are down about 55% disney and paramount both about 45%, while comcas

only two trading days left for the year nasdaq coming off a 2.5-year low.&p touching its lowest level since november we're tryingto keep in perspective, as morgan said at the top, the nasdaq and what's happened with tech, you got the china reopening, and now the cdc with the new testing of flights arriving from china to get into the country, starting on january 5th, the flights in italy, uk and france saying they're not going to institute, at least right now, covid tests so, it's all something for the market to keep a close eye on, because all the stories we talked about with apple, tesla, it's all related >> one way or the other to china. >> it didn't help yesterday in the afternoon. there's definitely been this feeling of, let's just continue to trim back on risk if you look at cyclical stocks, underperforming in this latest bout you look at, you know, more volatile or aggressive stocks, they've been underperforming obviously, nasdaq making a new relative low versus the broader s&p 500, so those trends are -- have been pretty well in place it didn't seem

nasdaq is the worst performer, down 3.4%. and the ten-year back to 343 "the exchange" is back after this this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. if your company actually practices the values that it posts about, then, yeah... you're on team earth. >>> welcome back to "the exchange." the airline index is down 3% this week. a lot of things are down this week, but they have had bullish outlook from delta and united. delta raised its guidance. in fact, united's ceo scott kikish kirby addressed the disconnect with our fill lebeau earlier this week. listen >> investors have a hard time with two things. one, recessions have to be bad for airlines they don't realize we're coming from such

the s&p up seven-tenths of a percent at 3,808 and let's take a look at the nasdaq, the nasdaq is downis year. right now though it's up 1% we shall see it's up 107 points and taking a look at those big tech numbers all in the green. apple up more than 1.5%, amazon up more than 1%, meta, alphabet, and microsoft all starting strongly to begin the session. all right, let's look at some of these individual stocks and begin with tesla which has been it managed to snap a losing streak yesterday and up again today, nearly 6%, elon musk says well it doesn't seem to be very worried about the drop in stock. lauren? lauren: completely dismissed it, right? dismiss the stock market craziness, he writes a letter to employees and shares are up for the second day. so what's the next catalyst for investors? delivery numbers, they come out early next month. this is so important to elon musk, and he told staff and i quote, please go all out for the next few days and volunteer to help us deliver, if you can. analysts expect tesla to deliver 442000 vehicles in the fourth quarter. here is the problem. shang

nasdaq 100 to me i feel like the risk now is that the s&p 500 plays catch up to the nasdaq 100 because the rotation that we've seen in the value is not likely to play out particularly well in a rising rate environment when we actually -- this goes back to that kind of theme that we've been talking a lot about this year, the potential for stagflation. what does that mean? that means valuations across the board are likely too high in this rate environment given the expected growth we have in 2023. the last point is that strategists who model earnings for the major indices have not taken down their estimates low enough that's one reason why we're going to have lower lows next year in 2023. >> steve grasso has finally joined the party what do you make of the selloff today. >> i apologize i didn't realize we started at 5 every night. people are selling off everything into -- i heard what guy said, i heard what dan said, i agree. it's just risk off into year end. no one wants to be -- if there was a santa claus rally or thought to be santa claus rally, i thought we were going to rip higher i

the nasdaq is down more than one%.oh, yeah, over 100 points there and chinese stocks getting a boost on the session avenue the news that starting january 8, beijing will be reopening the border and remove quarantine requirements for arrivals and that move represents a huge shift from the zero covid policy china previously reported and chinese adrs are producing some gains in the final hour of trade. jd.com climbing to the top of the nasdaq rising along with ali baba and the strict covid measures and wynn resorts leading higher right now and mgm resorts gaining on the session. see mgm up about half a percent there and chinese ev maker neo on the other hand not being helped out of the covid news from china and that 10:00 o'clock is crashing and burning after the company cut delivery guidance for the fourth quarter and neo expected to deliver between 43 and 48,000 vehicles in the fourth quarter and now it's projecting just roughly 39,000 vehicle deliveries and the automaker blaming covid-induced supply chain disru disrupt

nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. they're looking for you. who? who's looking? there is no time. they will kill you....but my daughter. mama. i'm the big see. i'm here to tell you about skin cancer. skin cancer is the cancer you can see. is there skin cancer on me right now? i'm not a dermatologist, but do you know who is? who? your dermatologist! everybody has to get checked! maria: welcome back senate passed 12.7 trillion-dollar omnibus bill yesterday with help of 18 senate republicans highways republicans are no i threatening to block all priorities from those gop senators who voted for it joining me right now cmac chairmen author of the desecrators, matt schlapp is here thank you so much for being here, what does this tell you? isn't this why the republicans are in the minority in the senate? as kim strassel wrote today in the journal? >> yeah, this is right maria. you can't have the leadership or elected leaders from the republican party be so at odds with the grassroots regular votes that vot

dow down 130, s&p down 22 and change nasdaq down more than 100 -- 103, nasdaq last night did bounce offest level since july of 2020, year-to-date the technology index true story for markets down about 33% for the year for the nasdaq. the stocks are in general for worst performance since 2008 but this is a different year and there are different reasons why. let's bring in laffer tangler investment president. let's talk about this i think when markets were getting hurt, this year in particular, and things changed at fed housing changing a lot of concern going back to a 2008 market, recession economy. but this isn't 2008. talk to me about that. >> this is markedly different good morning, cheryl thank you very much having me on markedly different than 2008 very different fed cycle occurring, i think, unfortunately, for the bond people rates not going much higher on fed side figuring, fed says two more would take them at word economy slowing getting headline inflation number to come down core is so consistently too high. and, you know i think also look at third quarter gdp number coming in h

is up 21, more solid gain on the nasdaq. you are looking at other movers started with moderna. lauren: piper sam but left their price target to 217, up 14%, they really like the vaccine pipeline especially for diseases, mrna, we saw that with covid, that's come down a bit but they are using that technology for other diseases. dave: haven't heard about yelp for a while but it is in the news. lauren: it is down 2. 6%, jpmorgan says online advertising won't improve until the first half of 2023, downgrade yelp to underweight. and newmont mining is up, the gold miners in general are higher, gold is touching 1800 a troy ounce, the us dollar finally dropping, japan, major hawkish policy pivot so they are going to allow bond yields to finally rise, didn't expect that. dave: a long way to go. lauren: a weaker dollar is good for some companies. dave: next one, pharmacies limiting purchases of children's pain and fever medication is the shortage continues across the country. lauren: when you see video like this, that's scary to a lot o

another 1% slide in the nasdaq, another painful week big tech

the s&p is poised to open up about 3.5 points the dow, up 36, and the nasdaq, hanging on to gains hereremarket, poised to open up 4 points after that 1.4% selloff the selloff continues in the nasdaq we're going to start with our road map, though tesla trying to rally following yesterday's steep declines the stock on pace for its worth month, quarter, and year ever. >> plus more troubles for southwest airlines already canceling more than 2,000 flights today, the company's ceo apologizing to his customers. >>> and amc's ceo adam aron asking his board of directors to freeze his salary in 2023 amid the company's sliding stock price. >> but we begin with tesla, which did drag both the nasdaq and the s&p lower yesterday. got another price cut this morning, this time from baird, the firm reiterating its outperform rating but lowering its price target it's the second price cut in under a week that's after wedbush slashed its price target on tesla before the christmas break. you can see right there, shares of tesla are trading at about $111, up about 2% premarket, but of course, scott, we were

the nasdaq is the lowest in more than two years. we'll take a look where things are heading in this new year. ♪. waiting. sometimes it's just inevitable. but if you're over 50 or live with a chronic condition, untreated covid could be deadly. got covid symptoms? get tested and get treated right away. it can't wait. a must in your medicine cabinet! less sick days! cold coming on? zicam is the number one cold shortening brand! highly recommend it! zifans love zicam's unique zinc formula. it shortens colds! zicam. zinc that cold! hi, i'm jason and i've lost 202 pounds on golo. so when i first started golo, i was expecting to lose around 40 pounds and then i just kept losing weight, and moving and moving and moving in a better direction. with golo and release, you're gonna lose the weight. ♪you fill up my senses as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by

we always do a little bit of bounce today in the nasdaq, too. nasdaq is up 1%.like we're waiting for next week. that's where the action is josh, what breaks the slide in tech because

dow implied higher by 58 na s&p by 13 and nasdaq 74. this is after the wednesday broad based market selloff recession fears fueling another losing week, month and losing year overall let's get a check on the bond market 10-year treasury moving slightly lower. 3.86%. 2-year treasury at 4.35% the 30-year treasury is below $ 3.96%. oil is being offered for wti at 7 $77.42 1.5% losses for ice brent crude. $ $82. all of this on concerns over covid outbreaks in china and what will happen to the world's biggest economy. let's get a check of crypto. bitcoin sitting at the $16,500 mark just about flat on the session .50% gains for ethereum. $1,198.60. we will have more on the crypto and the bad 2022 coming up in the show. >>> let's get a check of the headlines with silvana henao good morning, silvana. >> dom, good morning the pain from southwest cancellations is set to roll on for another day. the airline has scrubbed more than 2,300 flights set for today. according to flightaware, it tries to get its schedule back in order flightaware stated 86

nasdaq down 3.7% we mentioned the ark innovation etfs, down 6% today.own 20% in the last 90 days joining us now senior markets commentator mike santoli any tech company that's money losing, that's been absolutely dead money there's nothing really working great at all, but i guess what you're looking at is maybe things to our congressional committee talked about companies actually make money. they're not sexy that's kind of where people seem to be hiding these days. >> without a doubt that's been the theme for a while. feels that's where people feel somewhat more secure but that process has been under way a real long time the real speculative end of tech peaked over a year and a half ago. to be honest tesla's disorderly decline today 10% is really i think what caused the dam break within the last hour or so in the broaderindexes you have the s&p 500 that was trading in the vicinity of the week's lows, 3,800 it seemed like just to the lower end of the range, no big deal. that level goes back to, you know, you know, going back to the early part of november

nasdaq was just 32 it's down to 22.5 there. maybe that's the biggest point of contention is that 22 times and whether the nasdaq has had a rerating enough, and someone suggested it has not, and maybe that's the most open ended question while we've seen, you know, obviously the market come in from a more dramatic perspective from a technology and nasdaq >> if you remove the valuation for megacaps, the valuation for s&p is lower >> way lower >> so i've said all along it began in december of 2020, the russell 1,000 growth index had a pe at that time in the 40s this has been a valuation for risk assets and equities and touching the last place. the last line of defense was megacap equities when you ask the question what is the right valuation going to be for in particular nasdaq stocks -- >> for anything and the problem with the issue is you can't answer it yet. you just don't know because we really don't know what earnings are going to be if there's going to be a recession. >> a rerating across the whole market has to take place no

nasdaq down 31% off the highs. at where we stand as we head into the close down p 55 355. s&p 500 down 100 utility is down. energy getting hit the hardest oil pliess closing at the lowest level since back in january on fears of an economic slowdown. communication services, i talked about that meta big slide. that's weighing on that. technology hit hard. consumer discretionary, industrials. all going to end the day lower that's it for me on "closing bell." see you tomorrow now into "overtime" with scott wapner >>> welcome to "overtime." thanks so much, sara i'm scott wapner we are just getting started from post 9 at the u.s. stock exchange is an end of year rally dead after another rough day for stocks btig's chief market technician jonathan krinsky housing will hit we'll bring that up. timely read on that troubled sector the president is about to speak out in arizona as taiwan semimakes a massivin

the dow is off about 20, nasdaq down about 50. take you to wall street for the opening bell, which is next. ♪ ♪ ♪ i got into debt in college and, no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with no fees, low fixed rates, and borrow up to $100k. sofi. get your money right. [coughing] hi, susan. honey. yeah. i respect that. but that cough looks pretty bad. try this robitussin honey. the real honey you love, plus the powerful cough relief you need. mind if i root through your trash? robitussin. the only brand with real honeyand elderberry. [ marcia ] my dental health was not good. i had periodontal disease, and i just didn't feel well. but then i found clearchoice. [ forde ] replacing marcia's teeth with dental implants at clearchoice was going to afford her that permanent solution. [ marcia ] clearchoice dental implants gave me the ability to take on the world. i feel so much better, and i think that that is the key. stuart: all right, we're

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the dow, the s&p, and nasdaq showing, well, the nasdaq flat but the dow and the s&p slightly higher in the pre-market. take a look at the 10-year treasury yield coming down just a little bit down nearly two basis points at 3.83% on the 10- year. now this new york congressman- elect george santos tells fox he needs to "face his mistakes" and he's trying to spin his lies by comparing them to lies joe biden has told. will that work? we're going to talk about it, you know that. it is wednesday, december 28. "varney" & company is about to begin. ♪ staying alive, staying alive ♪ ashley: what a way to kickoff the morning, "staying alive" as we look at midtown manhattan, on this wednesday morning. pretty quiet in the city. good morning, everyone. now, to this story. the supreme court, yes, is keeping title 42 in place. good morning, lauren simonetti. when does this order expire? lauren: ashley, good to see you. so the high court will hear oral arguments on the case in february, final decision coming in june. listen. >> the court is not going to decide until june apparently and in the meantime

taking a look at futures this morning and dow down 91, s&p 11 and nasdaq 28. stocks on track for their worst performance since 2008. as you can see, the nasdaq losing the most ground, 33% year to date and s&p down about 19% year to date and the dow down about 8.5% for the year. the nasdaq bounced off the lowest level since july of 2020 and still down 33% for the year and as you can see, those are your markets yesterday. we got green arrows and taking a look at oil this morning, are we going to see $100 a barrel and crude oil is slightly down. to your markets now this morning, they've runed out the end of their -- rounded out the end of area trading year and cap 40 and the dax all in the red. and asia, mostly green and shanghai composite and mostly higher and clocking in gains and ak coming in flat in japan. more on that holiday travel disaster, southwest airlines telling fliers it expects to return to normal operations today. we shall see. we'll get more details for you during the show. all of this happening all morning long, mornings with maria is live right

the nasdaq composite 10,585, off over 1%. one specific part contributing probably most to that down side has been the communication services sectsor it's down about 1.5% so far. it's been in a steady down trend. and meta could be possibly billions and billions of fines from the european union tied to alleged antitrust violations in those markets over there with online classified, others things like that. it's dragging the entire sector down it's m&a, merger monday, though it was kind of reported over the weekend. aerojet, they make a lot of things that move rockets, jets that trade is up about 1.5%. it's agreed to be bought out by l3harry technologies now, remember aerojet rocketdyne agreed to be bought up by lockheed, and regulators kind of nixed that deal. and there's a risk to this deal. the sector is down year to day, and now widespread fears of a recession is coming, but my next guest says tech is not dead. let's say oxygen goes out of the -- i think it has to go to the big tech, and i think that, in discussion with my t

there is the nasdaq, up 1% reits are leaving.nergy, communication services, the only sector to close down, consumer staples. and the nasdaq -- tesla rallies yet again. that's it for me on "closing bell." see you tomorrow on fed day. now to "overtime" with scott wapner >>> thank you very much. and welcome to "overtime." i'm scott wapner you heard the bells. we're getting started. in a little bit, we'll be joined by mark newton on what stocks are likely to do now given today's stunning reversal after that cpi we're also following the late breaking story on apple that could have major impact on the company's lucrative app store. stay tuned for that. good to have everybody with us today. we have dan greenhaus here, joe te terranova as well.

eastern, dow industrial .25 s&p higher by 13 and the nasdaq higher by 43. stocks lower this week, the nasdaq and s&p 500 on track to end with three straight weeks of losses on the weekly dow industrial has again over 34% and the nasdaq is down better than 2% s&p 500 lower by three quarters of 8%, the dow industrials up in the quarter as well. this ahead of key inflation data out this morning will get the federal reserve's favorite read on inflation the pc index out with durable goods orders, the all-star panel will be weighing in today. let's take you to interest rates and treasury yield ten year treasury right now sitting at a level of 3.706% the tenure up to another basis points of the two-year is higher by 1.1 basis point and four-point to 85%, european markets this morning look like this, take a look at it s&p 100 in london looking at a gain of 16, the cac run-up five and the tax index higher by 60. in asia overnight right across the board china says is on the road to reopening and ending the 0 covid policies, nonetheless the shanghai composite data qua

nasdaq up 250 as we speak. has arrived at the magistrate's course. we he is there and he is being charged today. susan: we have satellite satellite trucks and camera crews outside the courthouse in the bahamas. we are looking for shot. stuart: looking for the shot, see what this guy looks like. still had senator elect john fetterman, known for constantly wearing that black hoodie when campaigning but they put him on the list of this year's most stylish people. a new zoning law in california to create more affordable housing for residents. real estate guy mitch rochelle will tell us if this will address the housing gap. that is next. ♪ the dribbler, and the day-dreamer... the dribbler's getting hands-on practice with her chase first banking debit card... the drummer's making savings simple with a tap... ...round of applause. and this dreamer, well, she's still learning how to budget, so mom keeps her alerts on full volume. hey! what? it's true! and that's all thanks to chase first banking. freedom for kids. cont

the nasdaq down 0.7% still down on the day and week, down 2.5%. spared in the sell-off with the exception of meta, higher from the upgrade of jpmorgan today, joining us is mkn partners and gene monster of luke ventures. my main question to both of you, and gene, i'll start with you, is where earnings expectations are for this group have they come down enough to reflect the reality of what we're looking at next year >> the simple answer, sara, unfortunately, i don't believe they have. in the case of meta, i think they have, but for the most part, all these large cap tech companies, most of them are going to need some downward revisions. the market, for tech investors, moves at a more rapid pace and i think when we think about the december quarter specifically, i will highlight one example of the work that i think the buy side needs to do, apple, i think their business is doing exceptionally strong, however there might be softness to that iphone number. they said as much on november 6th and you need to look at the iphone number in the december quart

the dow, nasdaq, s&p s&p on pace to close out he worst years since 2008,nasdaq, down about 32% year-to-date me strategic partners luke lloyd, you stay risk stagflation recession for 2023 we're really not ready for that explain what your point is here. >> yeah, the american economy really got lays after 2009 in terms of productivity, so america got lazy because gold kas cheap companies didn't worry productivity and efficiency hired a ton of people to support growth leverage businesses that works ieb fine and dandy when interest rates are zero percent money is cheap but when crap hits the fan rates rise faster money isn't cheap anymore companies have to work on productivity and efficiency again, the first step is getting more efficient, is getting rid of employees that aren't productive, more layoffs means less spending in the economy, and that means less growth, that is what we've been seeing, discounting markets this year s&p 500 like said down 20% nasdaq down over 30, so sadly i think we have more to go sadly. cheryl: as you point out a jack welch theory of ceo look at 10% under upcoming m

we've got the s&p now at 50 points, the nasdaq 117 to the upside.'ve got to tell you about rivian automotive. it's telling mercedes benz of all companies, we're going to get back to you. we're a little low on cash. shares of the ev maker are down 5.6% at this hour after the company said it's pausing its joint venture with mercedes to build electric vans in europe because it needs to conserve cash. it has been a tough year for rivian, it posted $5 billion in losses during just the first three-quarters of the year. for its part mercedes says it still plans to build first electric-only vans plants poland goldman sachs on a retail rampage, the firm upgrading both gap and tapestry from buys to neutral and raised the price target from $10 to $18 and you have gap at 14 at the moment saying earnings growth will support share outperformance. goldman also hiking tapestry's price target to 44 from 37. it's exactly at 37.38 right now, saying that the parent of coach among other hot names will benefit from strong brand momentum and china reopening. now, separate

nasdaq laggards, lucent has been at the top.oping all of this, wondering what is the news? there is not much news on lucent. we have energy companies in the red. energy is the worst-performing sector right now, that of course has a lot to do with the fact that oil has been plummeting here. worries about recession. so you see names like enphase energy, you see names like nrg which we already discussed. one of the higher laggards in the dow jones industrials is chevron. we have valero energy, kinder morgan, exxonmobil, conocophillips, eog losing anywhere from two to 5% for eog resources. as we continue to look at all of this, i want to stress very much so, bank of america, we started the show with this, a loss of more than 20% but remember the dow, the s&p have come up more than 20%. you can see the fear starting to climb into the vix. this is of course wall street's fear gauge, up 6 1/2%, still rather low at 22 points. we had bob doll here recently, one of the gurus of the market saying i would have so thought we would go back up

you're watching "fast money," live from the nasdaq market site in times square. we're back rig aerhihtft ts. esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. [newscast audio] hello, world. or is it goodbye? you know, it seems like hope and trust are in short supply. [clap] now, as businesses we can blame and shame. or [whistles]... we can make a change. [clap] we can make work, work for our communities. create more equal opportunities. [clap] maybe, just maybe, get a bit more unity. ♪ let's have less cancellation and more conversation. prioritize conservation. and... empower future generations! [clap] [chuckles] let's question again what we think we know. use our power and

that's a one and three quarter percent drop for nasdaq. be following them very closely over the next couple hours. meanwhile sam bankman-fried is back in the u.s. and he'll be making his first federal court appearance this week. connell mcshane is outside u.s. district courts and what's the latest? >> well, we expect that appearance to happen some point today, david, we expect him to appear in court and two of his top lieutenants turned on him essentially pleading guilty to criminal charges and pledging to cooperate with investigators here in new york. the first is 28-year-old caroline ellison. she'd been running almeida reservice connected and have the trading -- research and the firm connected to ftx and pleaded guilty to seven counts including wire fraud and conspiracy to commit fraud and gary wong and the former chief technology officer pleading guilty to four counts including wire fraud. all this at a warning last night from u.s. attorney damien williams. >> if you participated in misconduct at ftx or alameda, now is the time to get a

nasdaq down as well investors concerned the fed's relentless rate hike campaign tipping our economy into recession this hour a look at the health of the consumer, recession protection and what a slowdown means for oil, tech and the trade. first a kelly and a check on the sell-off, welcome, hi, everybody. tech hit hardest under recession fears. we have the s&p down about 2.7% today but 3.4 nearly for that nasdaq selling picked up after a bad retail sales report this morning showing worst drop in 11 months. other poor data as well. tightening out of the european central bank add it up, it's landscape now. apple worst performing dow stocks, as a matter of fact. netflix down big on advertising concerns down almost 9% today more on that later alphabet, microsoft, google shares down 5% the bond market, yields falling on concerns over growth. ten year back below 3.5% remember, 361 highs we saw after that cpi report but done a big about-face more with bob pisani at the new york stock exchange. >> well, the problem today, kelly, that the soft landing crowd is having a very tough time of it rememb

nasdaq is down more than 1%. stick around ♪♪ for skin as alive as you are...'t settle for silver. harness the power of 7 moisturizers & 3 vitamins to smooth, heal, and moisturize your dry skin. gold bond. champion your skin. pst. girl. you can do better. at least with yourd big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill over t-mobile, at&t, and verizon. wow. i can do better! -yes you can! i can do better, too! see how easy it is to save hundreds a year on your wireless bill over t-mobile, verizon, and at&t. talk to our switch squad at your local xfinity store today. ♪ >>> a down day overall for the markets. energy is the third worst sector so far this month, down 7% as a group, but come on, it has been a great year, up about 50% for energy as a whole. many stocks have done better than that. wall street is not done yet with all of the stocks. example, piper sandler naming exxonmobil its top pick in the group. jim, you ow

i'll give an example today the nasdaq as you mentioned, scott, is up hard. the dow which has been crushing things for months is only up 1.2% if i look at key industrial components they were negative earlier today. so boeing and deere. they were negative today i was thinking about that and thinking, okay, today people want to buy the nasdaq and they're using funds from what's worked over the last few months. i think that's a reasonable conclusion from what's going on today, but the problem is it's meaningless to me. it's not something that would change my stance either on industrials or nasdaqs or the markets overall. so what i'm saying to you, scott, is i agree with what you said and liz said. it's not a great sentiment right now, and i wish we were ending on a more positive note. what i'm also saying it it's not going to really matter to me a year from now. >> sentiment to use that word is historically awful i use a stat from bespoke, they did their individual investor survey in terms of bullish sentiment this year 2022 will be the first year in the history

nasdaq off 2%. the dow futures up 83.nd nasdaq up 46 here we go we're headed into the end of the year >> we were with that cooler than expected cpi number. s&we

the nasdaq down 8.5% overall, look at the moves we have seen with the s&p down 19%. that's the year. this is adding to the 2022 losses all three are on pace with the worst yearly performances since the great financial crisis in 2008 barring today's moves, dow shedding 8.5% and nasdaq down 33%. if you check on the bond market, they are ticking higher. 10-year treasury is 3.85%. 2-year treasury below 4.4% the 30-year treasury is 3.93% right now. in energy, oil prices have seen near term upside thanks to the china reopening. pessimism is coming back with the covid cases in the secont e. wti crude prices are down 57 cents. 77.84% .50% decline for ice brent nat gas prices down $4.53 right now. in cryptocurrency, it has been around the 16,000 mark we're still there. bitcoin is down to $16,511 ethereum below $1,200. let's get a check of asia and european markets for 2022. we turn to julianna tatelbaum who is in london with the latest hi, julianna >>> dom, good morning. happy almost new year to you i'm kicking off the asian market which has turned to china the last couple we

what's interesting about the nasdaq and i do want to point this out here, the nasdaq has crossed the unchanged line today alone 51 times so a lot of indecisiveness here. if you look on the year, the dow is the very worst, down 9% followed by the s&p which is down 20% and then sort of the avert your eyes or you'll turn into stone nasdaq, down 34% what is surprising is that the markets aren't up more than you would expect right now at least on today's session in light of the fact that the federal reserve's favorite inflation gauge for november rose at its slowest pace in 13 months. we've got the number this morning. the core pce which is the personal consumption expenditure and then, the rise of 4.7% year-over-year. the problem there shows that the demand is not cooling enough to discourage the fed from hiking interest rates well into 2023 and the feds been clear, don't expect a pause or a pivot before 2024, so with an unforgettable year for the bulls nearly in the history books, how deep into 2023 will the bears continue to show their clues? to the floor show joining me now , keith fi

the nasdaq down a little more. yields are higher. volumes are low. big news is the down year, the bear market for the s&p 500, down 19.8%. the nasdaq down even more. and yields climbing. nowhere to hide. hans lower too. caroline: how are people -- bonds lower too. caroline: how are people positioned? how are people been looking towards positioning themselves? abigail: it is interesting. in terms of the vix, something that has been baffling to folks is that it is so low. it has a 21 handle. the number one explanation for that is that institutional money, they are not as long as they would be, so they don't have to hedge. is that true? it is hard to know, but it is an interesting explanation. the vix hanging onto the bottom of its range. if it should shoot back higher toward 35 it could suggest new year could start off with a selloff. paul: the s&p 500 energy sector index, up 58% this year. wow. abigail: it's incredible. especially given the fact it was up 50% the year before. now we have the energy sector over two years, double. i don't know that it i