what could be in store for peloton. >> let's start with that six-month thing.ks inside of peloton are saying to me it's not that mccarthy is saying, we've only got six months and the house is on fire, but six months would be one year after he took over he seems to believe the turnaround is going to work. but in six months, you'll know for sure that's the period, but he has said he says he thinks things are on target despite the huge layoffs today. which are really his first major layoffs that weren't related to something strategic. earlier ones were about manufacturing, and retail as well but going forward, peloton is a very interesting acquisition target for lots of companies, particularly big tech and fitness that don't have anything like it. >> big tech like whom, apple >> apple absolutely. there has always been talk about how peloton wanted to be the apple of fitness one problem though is that peloton's actual technology is tablets run on android, which is why google would make more sense. an apple typically doesn't to big acquisitions just a few and google

is where peloton will be long-term.ion is whether peloton has enough runway and money, investor and board of director patients to see it through. emily: you reported on the rowing machine as well as some of these other partnerships, we've seen some departures. what is your understanding of the level of confidence under barry mccarthy from the rank-and-file at this point? >> the new leadership team has implemented a plan and they are executing the plan and doing exactly what they said they would be doing. they changed some company functions operationally and are allowing the company to generate more margin and more profit. they plan to shut most retail outlets next year in 2023, doing everything they possibly can. unfortunately for the stock price, it's not changing anything. a lot of the employee pay at companies like peloton is very much tied to the stock. it's difficult for the morale to be sky high or even very positive when they're trying everything they can possibly do. they're moving pretty quickly, they've done a

gains pending a deal with hilton, going to use peloton hardware in their hotels. i know you have more on that later on. emily: elon musk drawing the wrath of ukrainians after a series of tweets urging a negotiated solution to the invasion by russia and seating crimea for good. david kirkpatrick is with us. walk us through the latest in the back and forth. it started with a poll by elon musk. >> elon musk sent several tweets throughout monday. the two key points were that first he suggested a negotiated settlement between ukraine and russia, implying that crimea, which is an annexation of russia, should remain with russia for good. obviously these are strong words for elon musk we saying. -- for elon musk to be saying. he posted a a further poll later in the day saying citizens of those areas of ukrainian territory that russia is trying to annex, whether or not they should be given an opportunity, to vote on their own futures. there has been a sharp reaction from all corners of social media and diplomatically to what elon musk has had to say. emily: including from

peloton and pinterest.st. >> yeah, tyler, this is one that i actually kind of like. i think about a bad market and a good chart, and this falls into that category. it held 18, which i think is a pretty important level the 50-day is now hooking higher it's now above the 200 day moving average for the first time in a year there's some momentum in the stock. relative to the business, sure, you're seeing some slowing growth, but user growth is now stabilizing, which i think is important, and maybe most important in this market, it's a money making business. you have improving free cash flow margins, really important in this kind of market, and you know, the new ceo seems to have a clear vision, really capturing more commerce related to some of their users. he has that background from his time at google this is a stock that i think there is some pretty decent upside. >> let's come back to that peloton thing. it's selling at 200 and some times what year's earnings >> so it's not going to be profitable until out t

peloton, we have been seeking about during the show.d amazon interesting, we are braced for payroll date on friday, there are mixed signals about what the dobbs -- jobs market is like in the u.s. it's a vote in confidence in consumer demand, amazon is bringing the same reinforcement for the holidays as it did in 2021, even at a time where sales emergence on the platform are worried that they are bracing for slowdown in consumer spending due to inflation and this many earlier in the year. you see details of what amazon is doing behind me. between march and june of this year, largely through attrition, the reduce headcount by 100,000. during the pandemic era. there's peloton, another 500 jobs to be cut, that makes it around 4600 so far this year. is this the final step in the plan to turn around peloton's fortune? we've all gone back to the gym. some of us are back to the affix -- face -- office. dear pivoting to a more asset life model. it is interesting to see what tech is doing in the climate -- job climate market. emily: thank you. go

we need to look at peloton. know it's a good rally if peloton is pedaling higher after announcing a partnership with hilton hotels and the fitness company said by the end of the year at least one peloton bike in the fitness centers of 5,400 hilton branded hotels. stock is up 6.5%. hilton's up just under 2%. hotel members will also be offered a peloton app trial to use with the company's equipment. blue a apron, not everything isp and a possible sale of blue apron stock. the float of this under the agreement and blue apron selling up to 15 million worth inform shares and via cam ised and the market believes that and the stock is down 42% and in return, the financial service company would get a 3% commission of the gross price of the shares sold. we should look at fresh pet. it's looking for a buyer. the pet food maker has hired bankers to explore potential sale of the new jersey based company and sell from activist janna partners that took a 10% stake in the company and fresh met shares are sliding well off the 5

corporate news, one from peloton and another for credit suisse.utting its workforce by roughly 500 globally for about 12%. the ceo saying the structuring work is complete. this came from dow jones about 15 minutes or so ago. what jumped out at make about turnaround sales on the company not on its own. what a turnaround in the last two years. lisa: considering how much the shares had blown up during the pandemic in a positive way and deflated. this is the fourth round of layoffs to give you a sense, leaving us with about half the number of employees globally. this is a hail mary to get to the point where they are viable in the new era back in june. tom: i am the worst offender. is the fed over? is it that simple? tom: -- jonathan: it is not about -- if you have a product you love it does not make a good business. they still of the product. lisa: there is --jonathan: they still of the product. -- love the product. lisa: now some of these companies are finding the investors are not there. jonathan: like unsecured debt. lisa: from a social media compa

affirm and peloton up 12 and affirm and shopify and bitcoin above 20k, up 3% no question that what's leading this is the stuff that investors, over the past couple of months, several weeks have gotten very queasy about >> yeah. those macro themes is what you're pointing to the riskier rally, the unprofitable and the rally of the growth and whatever you want to call it and it's beaten down names and the macro backdrop and you have the ten-year yield 3.6 and the two-year getting close to 3.4 and carl, the fed isn't quite focused on inflation as much as it is the job market for the next moves some positive signs and remember they weren't as bad as some were expecting and there was a relief rally and she continues on the dip so we'll see what she has to say about it >> bank of australia hiking not as much. big, dovish surprise around the world and jolt one of the biggest drops for jolt on record and it's exactly what the fed was looking for so in some ways it's not like what we were seeing earlier in the summer as we have the s&p up 105 points and with the rally ongoing is it time for in

and peloton, we have been seeking about during the show.on interesting, we are braced for payroll date on -- payroll data on the jobs market in the u.s.. it's a vote in confidence in consumer demand, amazon is bringing the same reinforcement for the holidays as it did in 2021, even at a time where sales sailors and merchants on the platform are worried, bracing for a slowdown in consumer spending inflation and perhaps some pull forward that spending. you can see the details of what amazon is doing behind me. remember, between march and june of this year, largely do to attrition, they reduced their headcount by 100,000. then another 500 jobs to be cut from peloton, that makes it around 4600 so far this year. is this the final step in the plan to turn around peloton's fortune? we've all gone back to the gym. some of us in the office, using the\. they are pivoting to a more asset-like model. really interesting to see what tech is doing, particularly when it comes to the job front. emily: alright, ed ludlow, thank you meantime, google announced

we're talking a lot about peloton today.xcuse me peloton , cutting another 500 jobs as it works to get costs amid a dry shopping business. that's about 12% of pollutants workforce. it does follow a few rounds of layoffs this year. it also comes after peloton announced it is shifting its focus to some new growth areas as i've been telling you about, including those partnerships with hilton hotels and amazon ringing the opening bell this morning, members of the new york rangers visited the new york stock exchange to celebrate the start of the nhl nhl season. as steve mentioned, it's that time of year, you can watch just about any sport. taking a live look at the markets two days of gains now, followed by two days of losses. the dow jones down a little more than a half of a percent almost 200 points there . the s and p 500 also down a little more than a half of a percent about the same for the nasdaq, but it is still hanging onto that 22,094. where he will visit an ibm facility and talk about the company's plans to invest $20 b

your local hilton. >> maybe peloton is paying hilton to put them there that's good marketing. people try them out when they're staying at a hotel and get one at home. really from its beginning before the pandemic even, are the bikes, are the treadmills, is it a fad? is it something ultimately you're hanging your clothes on in your living room. it may be a new way of working out, innovative, but is it truly disruptive same question we ask from other tech companies that have risen like ride share. is a tech company or a better way to travel, adding technology to something that was already there? >> yeah, and of course last week the news they're going to start selling retail in dick's sporting goods they're definitely trying to widen the pool in terms of customer expertise and distribution what a turn in the business model. we want to turn to tesla today, shares are down now negative on a 12-month basis despite these record deliveries in q3. phil lebeau has more on the weakness we're seeing and of course why hey, fphil. >> this was a miss, yes, it was a record quarter in terms of

take peloton. peloton was a fad.nce they sold everybody one of those bicycles, what were they going to do? there was no sustainability there. likewise, facebook and twitter have sort of run themselves to ground, and they're now going into, you know, sort of a horizontal, coasting mode. we have these changes all the time whereas people like zoom are expanding and so forth. you know, we have new -- it's called creative destruction. we have new creation and we have firms that go away. arthel: but i tell you what, we were all about those peloton bikes and tread mills during th- [laughter] >> oh, so was i! arthel: i was on it. [laughter] >> listen, two road races during the pandemic for $12,000 apiece. arthel: whoo, you got deep pockets. [laughter] listen, we talk about wall street, but how do we stabilize main street? especially americans who don't have plump portfolios and cash reserves? >> well, unfortunately, if you didn't save your money going into this, it's the old story that now you're going to have to repent your

peloton is on life support.ently came out and said i think they have six months to figure it out or they're going to die. it's not going to be a viable business. i can he tell you, my personal experience with them, bought the bike years ago. my wife loves the bike. maria: it's a good bike. >> it's a good bike. i got the treadmill for myself about a year ago. didn't get delivered until about six months ago. they delivered it broken. then it took another five months to come out and fix whatever was broken. so it just seems like they have some pretty serious issues and it's going to be tough for them to overcome those. maria: you agree with that? >> i do. i agree certainly about the peloton. i like it too. [laughter] maria: it's a good bike. >> good product. maria: the september jobs report is out tomorrow. we'll see if we continue to see this kind of job creation. it's been holding onto 200, 300,000 jobs created even in the face of contraction. >> you look at the jolts number. maria: good point. >> the fed is real

another vacation, peloton users will be able to keep up with her exercise routines while on trips, ify they stay at a hilton. two companies reached a deal to put pellet on bikes in hiltons 5400 hotels in the u.s., those are expected to be delivered within the next few weeks. some hiltons hiltons have the peloton products but those were brought by individual operators. > >> coming up, one of the bay area's shining athletes getting attention overseas. skills from our own steph curry when we come come back. > >> coming up on the cbs evening news, we sit down with the head of the cia, naomi: every year the wildfires, the smoke seems to get worse. jessica: there is actual particles on every single surface. dr. cooke: california has the worst air pollution in the country. the top 2 causes are vehicles and wildfires. prop 30 helps clean our air. it will reduce the tailpipe emissions that poison our air kevin: and helps prevent the wildfires that create toxic smoke that's why calfire firefighters, the american lung association, and the coalition for clean air support prop 30. naomi: i'm votin

i think when you look at peloton, that's a nightmare on elm street situation.and if the stock goes down another 40, 50%. that's a death by a thousand cuts in terms of numbers. tech cuts, we will see dark days ahead, 5% cuts across deck. slower growth. you're seeing silicon valley adjust because if you go back to '08, '09 they were late on can cuts that they made in bottom line that hurt them. you will see pain ahead and take a step back and companies have grown in workforce per year the last 3 years. they were spending like 1980 rock stars. maria: yeah, that's true. francis, do you like tech right here. jump in. >> i'm still cautious on tech. my question for dan is when does the narrative of interest rates move over to narrative of having defensive balance sheets and if tech is going to be defensive in the coming recession. >> that's a great question. that's already actually started to take place here because investors right now are microsoft, oracle, apple, even names a adobe names that have the balance sheet in the evaluation to navigate, profit with tech wit

stuart: how about peloton? lauren: by the end of the year, about 5500 hotels will have pelotons.hey're up 4% finally some good news. stuart: nike had a rotten week last week. what are they in today? they're up i think? lauren: inventory surged 44% and at least four brokerages that cut price on the stock today. why are they up? there's a report they plan to open 200 stores in the u.s. and europe so they're confident in their business going forward, but they would use those stores kind of digitally. go in and maybe return an item you bought online. stuart: okay. nothing wrong with that. lauren: they're committed to brick and mortar. stuart: lauren, thank you. president biden travels to puerto rico today and touring damage left behind by hurricane fiona and wednesday in florida to tour the damage from hurricane ian. what can we expect from the visits, mark? >> stu, good morning. the president and first lady left the white house a few minutes ago and making the day trip to puerto rico and look at some of the damage from hurricane fiona after sweeping across the island roughly two wee

peloton, always a work in progress. ceo berry mccarthy says he's giving the unprofitable company another six months to significantly turn itself around and if that fails, he believes peloton likely is not viable as a stand alone company. as part of his effort, mccarthy announced the fitness company will lay off another round of workers and this is the fourth round here and this is the final step of his structure and as mccarthy tries to hit it. the high was 162 on monday in december 24, 2020 and everybody needed one of these. we were all locked down. i still need mine. i will say that. new smart phones and watches helping push google parent company alphabet higher by about a quarter of a percent and google launching pixel 7 and pixel 7 pro and also debuting first smart watch and the silicon valley giant requested more than 8 million units for its pixel 7. the pixel 7 phone costing $799 and the pro will be $899. smart phone competitor apple, we've got to take a look at that it had been levied in france over anticompetiti

peloton has slashed more than 4000 jobs in february.zon plans to hire 150,000 seasonal workers, the same as last year, despite predictions of a lackluster holiday shopping season. the announcement suggests the online retailer expects steady demand even with shoppers back in stores and facing the highest inflation in decades. this is bloomberg. haidi: -- >> a delaware judge is holding a hard case against elon musk, given the party until october 28. musk accused twitter of not taking yes for an answer. twitter objected to the processing musk can and should close the deal next week. the u.s. has sanctioned seven iranians officials accused of the leading crock down and a cut off. the communications minister, the protest began over the death of a 22-year-old who was arrested for allegedly flouting islamic dress codes. the move request to push from the biting administration support the protests. the swedish government is blaming explosion to the nord stream pipeline. the swedish security service as the investigation has increased suspicions o

do i see peloton on the move again? lauren: remember when this was almost 100 bucks?l street journal article today, the title is the make or break for peloton is there no rowing machines but they looked at some third-party data and desktop visits to their site surged the day they announced preorders, they were 37,000, now one thousand summers the interest in this rowing machine. is going to be make or break for the company's recovery? stuart: how about united health? they came back with a positive look forward. lauren: they raised their for your forecast and they said we are not seeing signs of recession, their business customer, corporate account is growing. stuart: have we got the airlines moving again? i looked at delta and i know they are up this morning. more than 2%. >> corporate travel is coming back. they got an upgrade to outperform and said they looked at their business travel segment, 85% of what they had before the pandemic and it is expensive so the corporate traveler is making a bigger portion of delta's overall revenue which is where used to be moving i

peloton down 80% year to date. people start leaving their homes, that's what happens. [laughter] coming up, president biden's backwards bailout. how the president's comparing pandemic relief to his student loan bailout. arkansas congressman bruce westerman here to talk all about it next. ♪ baby, you light up my world like nobody else. ♪ the way that you flip your hair gets me overwhelmed. ♪ but when you smile at the ground it ain't hard to hell -- ♪ you don't know, you don't know you're beautiful ♪ when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these different things and nothing's ever working. i've done the diets, all the diets. before golo, i was barely eating but the weight wasn't going anywhere. the secret to losing weight and keeping it off is managing insulin and glucose. golo takes a systematic approach to eating that focuses on opti

we are also watching peloton, a hard-hit name. investors inspired this afternoon. one name not participating in the rally is tesla, shares down 8%. cap kriti: let's look at a bank that has been having quite the roller coaster ride. it was done as much as 7% earlier in the session after a record low. the ceo has tapped to employees -- sought to calm employees in the memo -- and the markets with a memo late friday. shown ali, there are -- sonali basak, there are comparisons being made to the credit suisse story. my is that a fair comparison? why not? sonali: even though it is blown out as much as it has, it is not trading at levels of the great financial crisis. deutsche bank is in a closer era, 2016, which is the more relevant person. when you are looking at credit suisse, they are within their target rates, but the macro is more difficult for credit suisse than it was for deutsche bank in 2018 when all tides were rising. there is an interesting tweet today. the point is that european banks on the cbs is a good clamshell for the problems going around, but he hated t

is peloton spinning out?y it'll cut another 500 jobs, 12% of the remaining workforce. the yurnl says he's giving the company another six months to turn itself around, and if that fails he says it likely isn't viable as a stand alone company. the stock has lost about three quarters of its value year to date truest today though, dee says maybe the journal misinterpreted some of those comments they have ample luquitty to go beyond six months. >> what a thing to say i appreciate the candid comments, but it does leave me and i'm sure many others to wonder what happens after six months what's going to happen to them in six months. >> yeah, premium hardware is peloton's business this other, you know, services stuff i don't think it's got legs, carl you just see google and fitbit getting together they could jump into that in a second >> good stuff today, guys. let's get to the half. >>> all right, carl, thanks very much welcome to the half time report. front and center this hour after stocks ripped and dipped and cam

let's talk about about the big brands 50% off the the original peloton bike the first time we have offered through amazon. 25% off accessos off accessories. we have the largest savings ever up to 80% off select fire tv smart tvs this one 55 inches 80% off. if you have a small kitchen and a bay area apartment one of my favorite things is this little kitchenaid mixer two. the big one probably won't fit but this is the perfect size save up to 32%. exclusively for prime members so you can join and be a a member now, take advantage of these deals on amazon, try it out 30 days for free ant l the otr befits cludin ude deo, amazon music phot>>cayouofprim mbers who want to score the best deal during the promotional promotional cell? how do you get get the big deals? >> hundreds of thousands of deals where do you start? we have a few ways to help you out, the first ever top 100 list, 100 of the most popular items of of the season. different deals will be popping up throughout today and tomorrow. we also have have the holiday gift guide. i have to buy for my seven-year-old nephew and it's different e

peloton might be a good company that might not be stand alone. a real interesting addition to apple to compliment their fitness offerings. charles: but it is not something you would buy just yet, right? >> look i think that company has been so overvalued for so long that you see how low the price is, you think, hey, that is probably a good deal. you look at the p-e ratio, wow, that is still expensive somehow. for me still, still looking but not yet buying. charles: all right. so you know, understand the pulse of silicon valley better than anyone else. i was reading about a hot start up called liquid death. what a great time to have a product like that. wall street alone could keep you you in business. they raised money. liquid death, scary stuff, 700 million-dollar valuation. are there names like this, or anything cued in the ipo area that we should focus on? >> lick with death has a unique marketing story. it is water that looks like beer, it is fun, interesting, super catchy, affordable, something people need every day. it is doing well. charle

amazon's offering mega-discounts on big ticket items from peloton weichs to 23 and -- bikes to 23 andd even discounts, yes, on apple prices. imagine that. but who's doing whom the favor here? it's not exactly a stretch for amazon to give these big discount cans considering it is one of the many retail giants literally drowning in a glut of inventory. as of july, u.s. retailers have been shouldering a record 732 billion in inventory. that's a 21 is % increase year year-over-year. will amazon's effort help the company get rid of its overstock, and what can investors dedeuce from sales today and tomorrow about has holiday trends and the companies and stocks behind the trends? klover is live tracking the two-day sale through its customers who agree to give klover access to analyze their purchasing and spending day data in exchange for money management services. the ceo, brian mandel bam, we've torn you away from your computers, he's joining me right now many a fox business exclusive. as i understand, you've got realtime data coming in second by second, is that true? >> over 3.5 million co

peloton is firmly in positive territory as the company strikes a partnership with hilton that will see at least one bike in all 5,400 hilton branded hotels in the united states the majority of the locations are expected to have their bikes by the end of this year, and it's part of peloton's wider turn around efforts after peaking early in the pandemic. the stock though still down about 80% this year and hit a fresh all time low of 666. that's $6.66 in today's trade before rebounding. >>> thank you very much. there's a lot of talk about housing recession with mortgage rates spiking and sales softening, but according to a new survey, potential home buyers are upbeat about their prospects. joining us now is the analyst behind that survey john lava low with ubs i have to say, some of the numbers in here seem outlandish to me to be honest with you. 44% of respondents plan to buy a residential property over the next 12 months, the highest reading since the survey began in 2024. that's two out of five people. who are you surveying exactly? >>. >> that's a good question, tyler. it's a wide-bas

look for the strong fundamental and the leadership you believe in. >> how many more 15% declines can pelotonond meat? i mean, at some point you get really close to equity >> you have to think there's a lot of investors looking forward to taking a breather this weekend. >> yeah. >> and maybe disconnecting >> what a week we've h.it continues now as we finish the week up and round into the close. thanks for watching "power lunch. "closing bell" starts right now. hope you have a great weekend. >> yeah, another big intraday reversal this time to the downside. stocks are pulling back as we wrap up this wild week on wall street we are sitting at session lows right now. this is a make-or-break hour for your money welcome, everyone, to "closing bell." i'm sara eisen take a look at where we stand, down 350 or so on the dow. started the day higher as you can see. it's been dropping ever since. the s&p 500 is now down 2% which means we are weaker overall for the week, just giving you the week-to-date right now, down 1.17%. nasdaq sent 2.5%, also weaker overall for the week the small caps down 2.25% as w

peloton says they are no longer going to play his music in any of their new classes. t.j. maxx says they are also dropping his line yeezy, from his stores. you also an impact on the oakland city council ceng represent district iv in november, which covers much of the oakland hills. and which partially reads still rooting for you. hope your comeback is much greater. juliette goodrich sat down with joyner to gerardo ramirez-vera side of the story and here is what he said. >> and how it impacted people, i was just looking at it. he can't be well. some will ask what was he thinking? i can only think about the situation i'm in right now to apologize to the people who were hurt. you know, there was a lot of historical trauma for people who are jewish community. >> she also issued an explanation on twitter partly reiterating the tweet was not condoning anti-semitism, strugg with heal sutot, ocarnia cayss wget skbut a ui isinouth. halfway through, bam, get hit by a driver. when i knew my injuries were serious, i got on the internet. i made a phone call. when i spoke with jacoby &

. >>> peloton, the cycling company that experienced huge sales during the pandemic, is cutting 500 jobsits ongoing effort to turn the company around. the cycling and exercise company has a new ceo and has reduced its number of stores. >>> and u.s. movie theaters will release the "knives out" sequel "glass onion." a first time deal to carry a netflix release. the film will be carried in an exclusive one-week run beginning a month before it begins streaming on netflix. >>> that's your cbs "money watch" report for this friday morning. i'm dan lieberman, cbs news, new york. >>> jail is typically a place that you want to avoid, but in one minnesota town, visitors are paying to stay behind bars. the wykoff jail haus opened in 1913, locking up bad guys for 50 years. it later turned into a bed and breakfast and then a few years ago city officials put it on airbnb. >> it just blew up. i mean, it went crazy. the very first year we had rentals almost every single night. i tell them on line, if you want taj mahal, this is not it. i mean, this is roughing it, and it is a jail. >> guests usually pay

that's been putting upward pressure lack of participation, higher wages, shortages of jobs look at peloton outperforming the market cnbc.com obtained a memo from ceo barry mccarthy to staff disputing an earlier report from "the wall street journal." the main dispute over a line in the journal's story attributed to mccarthy saying the company had to make significant changes or else it may only have six months to survive on its own mccarthy writing in the memo that that characterization is, quote, at odds with a story we told and the state of the business that's on me and i apologize but peloton did today announce another round of layoffs this time about 500 jobs being cut, roughly 12% of its remaining work force mccarthy has been on the job eight months stock is down nearly 70% in that time mike, what happens to this name? where is the valuation any chance someone could step in i've been trying to make calls on this. i don't know why they would now, especially some big players that get rumored about like an apple or a nike when it's been cheap for a long time. >> well, it's been cheap in te

. >> also, a news alert on peloton. the company cutting another 500 jobs in its turnaround effort.reporting that the new ceo says that the company has six months to prove that it can survive on its own. the stock down by 2.25%. >> a look at what's moving in the premarket, including the latest developments regarding elon musk and twitter. and after the break, congressman ro khanna is going to be our guest. he's been critical of the move by opec to cut barrels of oil production and then in the next hour, the president's right-hand man, amos hochstein is going to be joining us as our special guest. right back after this. ♪ ♪ ♪ ♪ ♪ ♪ introducing ihg one rewards. six thousand global destinations. one loyalty program that lets you guest how you guest. ♪ >>> welcome back to "squawk box. take a look at futures right now. we are in the red this morning we're looking down about 176, 177 points right now nasdaq off about 67 points and the s&p 500 off 24 points. take a look at treasuries. you're looking at an interesting story there. five-year -- let's look at the ten-year 3.781. but the two-y

so, stop fooling around with peloton. buy the expensive one. do better i think that lulu is doing incredibly well. by the way, hologic ringing the bell, i've got them on tonight this is national breast cancer awareness, but they are doing incredibly well. some companies are doing so well, but we focus on what, the f.a.n.g. thing, you know, david, where it's like, meta -- you know, meta's -- facebook's had a decent number, the facebook numbers aren't falling apart, but it does seem like we need a breakthrough if you're meta. you need a breakthrough. >> well, stocks now out of the top ten, right >> isn't that something? >> zuckerberg's wealth this year has seen material reduction. >> i've got to tell you. the collapse of the idols is so stark. and david, no new leadership has surfaced i was going to say the banks, because they've stopped going down, but it doesn't matter. >> well, energy has been the leader it is again today. >> well, today it is >> exxon and chevron both up over h4%, this on the possibilit of significant production cuts from ope

we're just going to try and help you make sense of it all >>> and racing to return to growth pelotonlashing 500 more jobs its ceo says the restructuring is now complete. >> let's begin with the markets, inflation, and the fed we'll get mester, actually, twice today, jim >> oh, geez. >> were you at all impressed by the s&p unwinding that 2% intraday drop? >> i thought it was kind of amazing, because it shows you that there is -- i know that jason was talking about it, some put that's out there no i mean, i think there's money that feels like, wait a second, the downside is -- we've seen, and we can test it, maybe even fail initially but there's a lot of people who just say, look, we're kind of done with the selling. we have had -- i mean, i thought the leader of the bounceback, the semiconductors, i mean, the semiconductors have been in purgatory since november of last year that's how long, david november of last year, the semis have been going down let's watch them i mean, the premarket, they're always down because, well, that's what they do. but this was a remarkable turn of the sem

doing a mix of, actually, the tour de france best riders coming, so you have 30 of the best of the pelotoncenzo nibali or mark cavendish, the record holder for stage wins in tour de france, and we are mixing them with asian riders because the whole purpose from malaysia, singapore, thailand, south korea blending with the tour de france riders to have an amazing celebration of cycling — that's the whole purpose. the swiss railway network has earned a world record by running the longest—ever passenger train, measuring nearly 2km end to end. the train, made up of 100 connected carriages, made its journey through the swiss alps, taking a spectacular, spiralling 25km route from preda to alvaneu. the event, which was watched by thousands of people on assembled big screens, was staged to mark the 175th anniversary of switzerland's railway system. you can reach me on twitter. i'm @richpreston. goodbye for now. hello. if the sky is clear sufficiently in northern scotland, there's a pretty good chance of spotting the northern lights. having said that, it has been pretty overcast across many parts of

we're talking airbnb, qualcomm, peloton, doordash, draft kings to name a few.thought what better time for a game of trade it or fade it. my first time, guys. we'll kick it off with amd, the chipmaker reports tuesday after the bell trade it or fade it? >> you always remember your first time i'm trading amd for sure down 60% from its all time high, trading at a midteens multiple lisa sue, great ceo, that intel quarter was not great. you saw the price reaction, amd's quarter is better. it goes higher >> they like the cost discipline on intel tim? >> i'll fade it. i think you have a dynamic where we have preliminary numbers, we know the client segment is going to be 16 or so percent weaker. i think it is something you continue to see. 25% over the last three months i think semis go lower. >> starbucks reporting thursday afternoon, steve what's your take >> you got to fade this one. there is going to be a head winds from the headlines that we're seeing that's going to be a head wind for the stock. it is a risk for the stock i was constructive on the stock. it looked

we kill this peloton. a drone flew and hit a tank of gasoline. my wife heard the explosion. the tank was clearly full, it did not explode. it just has very strongly and caught fire. at the moment, sir, fire foyers are still trying to put out the blaze, but we can already take a look at some of the consequences. off of this blast, take a look at this. this railway is now completely destroyed. it's still smoking and he could still see behind me, one of the tanks is still on our fire. this is probably the consequences of the ukrainian rocket that landed, say here, and created this wire. these are the sanker. now these are still intact, but the firefighters are doing everything they can so that the fire from other thanks does not spread to these ones. for one cluster of archie, don't it's people's republic. ah, the west is spreading fake news about iranian drones use in ukraine with us according to vs, and voids the un after meeting of the security council on wednesday. he said that's investigating the origins of you. ease used by russia and ukraine is not within the organizatio

doing a mix of, actually, the tour de france best riders coming, so you have 30 of the best of the pelotoncord holder for stage wins in tour de france, and we are mixing them with asian riders, because the whole purpose of the event is also to inspire, so we have teams from malaysia, singapore, thailand, south korea blending with the tour de france riders to have an amazing celebration of cycling — that's the whole purpose. you can reach me you can reach me on you can reach me on twitter. thank you for your company and we will see you next time. would buy. hello. if the sky is clear sufficiently in northern scotland, there's a pretty good chance of spotting the northern lights. having said that, it has been pretty overcast across many parts of northern britain in the last few hours. let's see where the greatest chance of spotting the aurora borealis is. where you see the red colours, that's the highest probability, but northern scotland is just on the edge, so it could well be on the horizon pretty low and if the sky is clear. low pressure is still dominating our weather. it is still pushi

month is starting with some new huge gains on wall street peloton.and trying to come with you on vacation found cook is upstairs now in dollars and cents. great news for people who like to work out on vacation peloton has just announced a deal with hilton hotels by the end of the year. all hilton hotels here in the u. s will have at least one of the exercise bikes and just last week, peloton also announced it will start selling its bikes and treadmills at dick's sporting goods, so trying some new things to boost sales. experience based in san jose rain that opening bell this morning to celebrate its listing on the new york stock exchange experience makes a lot of the technology involved in our entertainment, including hd radio and immersive audio technology that's used in smart devices and connected vehicles as we take a live look at the big board. we do have some big gains after some big losses over the past few trading sessions. dad jones, currently up 2% almost 600 points. it did cross that 600 point level. just a moment ago s and p 500 up almost

doing a mix of actually the tour de france best riders coming, so you have 30 of the best of the pelotonavendish, recordholderfor state wins in tour de france, and we are mixing them with asian riders because the whole purpose of the event is to inspire so we have teams from malaysia, singapore, thailand, south korea blending with the tour de france riders who have an amazing celebration of cycling, the best of all purposes. cycling, the best of all purposes-_ cycling, the best of all --uroses. . .., , i. purposes. these countries you have mentioned _ purposes. these countries you have mentioned are _ purposes. these countries you have mentioned are well- purposes. these countries you l have mentioned are well known for amongst other things their heat and humidity, not things you normally associate with france. how will the riders cope doing these races in southeast asia?- cope doing these races in southeast asia? ., ., southeast asia? the good thing is the riders. — southeast asia? the good thing is the riders, their _ southeast asia? the good thing is the riders, their office - southea

. ♪ ♪ haidi: a quick check of business flash headlines -- peloton laying off a significant number of the fourth time this year along with other cuts in operating expenses. they are cutting the workforce by 500 globally. ella todd has already cut more than 4000 jobs since february as it tries to turn itself around -- peloton has already cut more than 4000 jobs since february as it tries to turn itself around. an online retailer expects steady demand even with shoppers back in stores and facing the highest inflation in decades. ali pay has been removed from a high-tech company in the latest blow to the ownership group. the payment giant failed to make [indiscernible] the removal likely means the loss of some tax benefits. this company is said to be seeking an outside investor for a spinoff of method advisory and investment banking businesses sources say the advisory and dealmaking teams along with leveraged finance units are being targeted. the credit suisse investment bank racked up huge losses and played a role in some of its big scandals. netflix will debut one of its major film rel

peloton reacting well, after cutting 500 workers. saying that this needs to be done to save the company within six months. then finally, ge is not reacting so well. they are laying off to me percent of their workers further onshore. down 1.2%. guy: it is amazing what is happening in that sector. thank you very much. let's talk about what we will be watching for the next 24 hours. a number of u.s. federal reserve members are sent to speak. cape canaveral space station in florida. alix: the expectations, 3.7%. everyone is going to want that. if it gets to four at some points, what is that going to look like in the markets? averages are down in the earnings. president biden speaking to the economy. russian inflation numbers, how real are they? guy and i are headed to cable as well. tune in for that. this is bloomberg. to finally lose 80 pounds and keep it off with golo is amazing. i've been maintaining. the weight is gone and it's never coming back. with golo, i've not only kept off the weight but i'm happier, i'm healthier, and i have

if you are insured shorter person, does -- you are a shorter person, -- next, peloton will let you keepck of what on vacation. kumasi: this story has a lot of people shaken. the search for a potential serial killer in stockton and crime tying the killer to the bay area. jobina: jobina: a search for an t serial killer. the allegedly suspect out of stockton linked to a client new east bay. kumasi: search for for family members kidnapped from merced. the strange circumstances surrounding their disappearance. jobina: fleet week excitement in san francisco. these events today and what you can expect for the rest of the week. we will check out this beautiful forecast. sweater weather in the morning and then? drew: light layers. yesterday was beautiful with sunshine. this morning, fog is an issue in the north bay. petaluma has thick fog. the main issue is in marin and sonoma counties. outside the north bay, doing much better with fog. this morning, 50's for the most part. take the sweater with the that you do not need it let her. we are getting first hints of that sunrise. low clouds first thi

i see peloton.n: morgan stanley ones website traffic and conversion in september, web traffic was down 34% year over year, people are reconsidering expensive equipment and going back to the gym. stuart: peabody coal. lauren: they are in deal talks, merger worth $6 million, peabody is down 3%. 3%. stuart: they want to buy it. meta. lauren: this is amazing, there's no need to be in meta-today as an investor. about zuckerberg's but on the meta-verse idea, the world changes by his 2030 deadline all this should pay off, it might never pay off. you have an analyst saying there's no need to be in it and they don't buy into the dream of mark zuckerberg. stuart: new the released e-mails show the by that ministration knew that border agents did not with those migrants in september of last year despite telling the public otherwise. what have you got for us? >> good morning. an email obtained through a records request reveals alejandra mayorkas was privately alerted by dhs officials the whipping narrative behin

the stock today up nearly 3% and peloton always making news this morning and the company extending theefund period for the recalled treadmill consumers have been warned not to use the tread+ since a child died in an accident using the machine back in 2021. and finally talk about ikea, they're teaming up with kodiak robotics, that's a self-driving truck startup and they're launching a pilot program in texas to test deliveries. what we need know it a robot to help put those products together. assembly required. terrifying words, stu. stu: the worst three words in the english language: some assembly required. spare me, please. thanks very much, ash. see you later. britain's prime minister liz truss apologized for making mistakes in her budget and she's facing pressure to resign but she's says she's not going anywhere. we got the report. ye west mas agreed to buy parlor and uncancelable platform parler. i'll ask the ceo of parler, he's coming up. new poll showing 44% of the top in the midterms and strong as hell. stu: feel so close to you. there's no stopping us right now. okay, that's cap

i think that counts for some of the appeal, eye specially peloton latino men. >> that's something that -- we -- latinos are just like any other group. it's important where they live, their age, where they come from, how they got to this country. that makes is such a diverse vote. >> the decision by governor desantis to take venezuelan migrants to martha's vineyard, how did that play in south florida? >> we will have to wait and see november 8th, but i don't think it was -- they didn't receive it properly. this has been a party that has been condemning governments in nicaragua and venezuela, cuba, yet you see the immigrants asking for asylum and they are just turning their backs to them. we'll wait and see for the reaction. >> it certainly seemed like a riskier decision. we appreciate you guys today. before we go, "meet the press" was honored with an emmy award this week, more than a year after protests erupted across the country following the killing of george floyd. our special broadcast was focused on schools, america and race, examination the battle over critical race theory and tho

material, western digital, even intel is higher, as it announces it would spin off its mobile io unit peloton is getting a nice lift it's announced it has a partnership with hilton to provide machines at all of its hotels listen, we don't want to make too much of it the stock has come down massively from the highs, so a tiny green shoot for one of the most beaten-up stocks the past year >>> now to the lead story, that is oil something big may be about to lap with opec. the group is set to meet on wednesday. this weekend they called a big-time audible they announced the meeting will not by virtual it will be in person the first in-person meeting since covid hit, that is leading to reports that they may be ready to cut production. if they do it, it will be the largest cut since the pandemic with the meeting in person in austria, it also raises the very sticky question of russia, whether the russian delegation will show up, or if they're even allowed to bob mcdali, he's the president of rapid edge energy group and a cnbc contributor they threw us an audible saturday morning you texted me. what d

and now the nasdaq composite is up 4% this month peloton on pace now for the best month since december of 2020, up more than 7% today. >>> well, contessa, let's begin in -- they're wreaking havoc on the economy. eunice, let's start with the foxconn plant, as it denies reports of 20,000 covid cases there, and people fleeing the premises >> absolutely. that taiwan company has been in full-on damage control, because they've been denying that report as you mentioned, and also say the production won't be affected the company had also told the local media today, renewing their pledges they would improve the lives of the workers ought that factory in central china. that's the one people say is right smack in the middle of iphone city. new measures to make sure that workers are sick or suspected of big ill broadband cared for, so that they can be taken, and they handled well, offering new bonuses for none who decided to stay to the attitude of about $14 a day, which is a big amount there. this all comes after we've been seeing all weekend videos emerging foxconn worker trying to get out of the

peloton says they will no longer play kanye west music during classes.ch as $400 million of his fortune is in music royalties. he could lose a lot of that if companies continue to stop playing his music. a car enthusiast found a spooky way to deck out his mustang for halloween. jobina: he added jack-o'-lanterns to the tip of the exhaust pipes so when it revs up it looks like it is breathing fire. he posted this video on tiktok. it has been seen several million times already. reggie: i hate how much i like this. how is it staying together? eventually, it doesn't. it lasts longer than i thought. jobina: is the car orange and black too? reggie: it is. jobina: do you all deck await -- decorate for halloween? reggie: what are you doing for halloween? drew: it is nice. my christmas tree we leave up. reggie: do you have anything that makes noise? >> my dog would walk by constantly. i cannot do that. jobina: i do love a good fog machine. reggie: in a neighborhood, it might be a full bar. >> spent all the money on the fog machine. cool, we don't have candy but co

the locker, the gap, peloton stopping his music streams.they all joined in to knock him off their sites. lauren: celebrity catastrophe. stuart: some circle k stores are a 1-stop shop for gas, lottery tickets, we will tell you where this is happening. restaurant owners in california outraged over restrictions on natural gas powered appliances, casting them a lot of money. we have the story. pennsylvania senate candidate john fetterman claims he always supported fracking after opposing it four years ago. >> you are saying you support fracking, there's the 2018 interview you said, quote, i don't support fracking at all. >> i do support fracking and i don't -- i support fracking. stuart: i wonder if pennsylvania congressman dan newser believes he supports fracking. he is on the show next. ♪ ♪ will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visi