over all, the market dynamics are getting back to prepandemic levels and we have a number of therapies beyond diabetes, the new products hitting the market at jpmorgan. >> you embarked on your restructuring before that became something that so many other companies across the economy are looking at and now, have. walmart's former operations supply chain person working on your cost of goods sold and whatnot. how does that fit into the economic times that we find ourselves in now, where the gross margins have beenaffecte and you're looking at a multi-year process of getting them back to where they were a few years ago. >> sure. to your point, january, we started this well before the current economic environment, with supply chain issues and things like that and the reason was, at medtronic, we're at the intersection of health care and technology there's so much opportunity when you combine the advancements of bioengineering and the robotics or cloud computing or a.i. what we wanted to do is make the company more focused on innovation-driven growth making the company more nimble and puttin

>> in terms of pricing >> in terms of pricing we're well above where we were prepandemic.uding internal combustion engine vehicles, i'm not sure we're going to see a return to where we were prepandemic. that's the concern for economists out there, you have so much of the inflation built in to a market like autos, it's hard to see that come out. now is it possible yeah i'm sure it's possible but i think most in the auto industry are accepting these higher prices may come back a little bit but they're not going to go to prepandemic levels. >> all right phil lebeau, thank you as we head to break, defense stocks are higher this morning bucking the trend lower for the s&p coming off a weekend rife with geopolitical happenings we saw the drone strikes in iran reportedly linked to israel. eu exploring options plus, on the ukraine front, requests to get f-16 fighter jets made by lockheed martin seemingly getting some support from the pentagon. all of this as house speaker mccarthy saying that essentially in an interview yesterday, defense spending cuts are on the table in budget n

there can be no compromise dances as demand for air travel meets to exceed prepandemic levels, this will bill help the industry implement the best practices and improve the safety of the traveling public. so i support this legislation and i urge my colleagues to do the same and i reserve. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from missouri is recognized. mr. graves: i yield to the bill's sponsor, the gentleman from minnesota, mr. stauber. the speaker pro tempore: the gentleman is recognized stob taub -- mr. stauber: i rise in support of my bipartisan legislation that improves the safety of air travel. i would like to thank my colleague, mr. desaulnier for his support on this legislation as well. in 2022, the united states was home to eight of the top 10 busiest airports in the world. this means as americans, we have no room for error when it comes to aviation safety. aviation is the safest form of travel, we must always strive to be better. this is why we must address these systems. they provide current up to the minute data to pilots on a

that does not worry me what worries me is the cuts that go into the broader or say prepandemic levels of activity the contraindications on that when you look at the overall market, it looks pretty healthy still. the jobless claims numbers are still, if you look at the four-week moving average, it's actually moving down at a time when you should have it moving up so the interesting thing to follow here, watch the headlines and be mindful of them as what you said, jon, a canary in the coal mine. what we don't know is how many of the tech workers are finding work elsewhere and relatively quickly. there was a ziprecruiter survey that showed 79% are going back to work -- finding jobs, and 37% finding work within a month. that would not be a canary in the coal mine. that would be a coal mine that, i don't know, produces coal. >> steve, a remarkable intersection between tech and macro. we'll talk more about that later. steve liesman. >>> all of that against the backdrop of the trade show that's where ceos of amd, qualcomm, and crowdstrike look at it. julia boorstin is off on the ground there

that gets us $10 to $12 a share, which is a pretty amazing place to be looking at where we were prepandemicnd a weaker economy. >>> we've got oil prices that are higher today wti group prices as you can see back above the $80 mark, up about a buck 27. 1.25% gain for ice brent crude, up about $1.04 to $86.96 china will account for roughly half of this year's grouchlkt bullishness around china now, around the world the bank of japan continuing to defy the hawkish tone of other global central bank policy makers out with its latest monetary policy decision jp is out in singapore with what happened with the boj and why the buying is so big jp. >> this was also a culmination of days in defining the odds bank of japan would have no choice but to widen or to at least move the tightening measure. that pushes the yield up about half a percent but today as we know, the bank of japan left the policy rates unchanged. in a statement, bank of japan's governor said there's so much uncertainty in the policy they have to keep it accommodated to support wage growth and to make sure they can meet their price t

i will tell you now that revenue per passenger is lower than prepandemic. there are reasons based on the nature and who the ridership is today. we have updated our ridership estimates. it was one thing we needed to do to check the estimates we showed you during the budget and now but now we are doing that underlying, what fare products are being purchased for the ridership and as director noted two areas of difficulty for us are people who use mini mobile because there is no tagging or clipper. which is hard and we collect the data but not sure if they are paying through a fast pass or another way and we need to make an assumption around that and we have the sense of a revenue and hard for us to figure out the ridership. >> the board also voted not to increase fares in the last budget cycle. for me it's important to know what is the delta of the delta because every single person that stepped on to the single railway did not have fares and what i would like to know if not now then in the workshop, if it was 80% of fares, what is it now, 50 or 60%. if we are

you see the credit card revolving debt, revolvers of the credit card companies back now up above prepandemic levels. that is sort of normalizing. so i think what we're seeing from the consumer they're sort of worked through that pandemic transition and they're now trying to find that equalibrium point in the current, you know in the current world where we still do have a lot of inflation but we also still have a very healthy job market. charles: your thoughts on this fomc decision tomorrow. eddie made the point, a lot of folks are talking about soft landing. i have a guest coming up who lays out the case very nicely but by the same token again the tea leaves suggest that the fed should be at least happy or pleased with their handiwork, which is destruction? >> i mean, so far so good with the consumer we'll see. all these things are always a bit lagged but a very good point from american express they gave guidance for 2023 their charge-off rates based on the behavior they're seeing in the book ever consumer loans will remain below prepandemic levels all throughout 2023. that is one of the bes

i will tell you now that revenue per passenger is lower than prepandemic. there are reasons based on the nature and who the ridership is today. we have updated our ridership estimates. it was one thing we needed to do to check the estimates we showed you during the budget and now but now we are doing that underlying, what fare products are being purchased for the ridership and as director noted two areas of difficulty for us are people who use mini mobile because there is no tagging or clipper. which is hard and we collect the data but not sure if they are paying through a fast pass or another way and we need to make an assumption around that and we have the sense of a revenue and hard for us to figure out the ridership. >> the board also voted not to increase fares in the last budget cycle. for me it's important to know what is the delta of the delta because every single person that stepped on to the single railway did not have fares and what i would like to know if not now then in the workshop, if it was 80% of fares, what is it now, 50 or 60%. if we are

suggest, and it has come back in we're taking a look at valuatio for amazon that's roughly a level at prepandemicf the downsides is we're dealing with post pandemic head winds. we heard that from microsoft you take a look at better businesses, cloud, and we hear that business spending is under some pressure. the options market has a much larger than average implied move, so unlike brian where i'm not sure i'm comfortable owning it, i'm simply looking at a call spread, if you're inclined to take a bullish bet you're using a call spread because you want to sell against the one you guy, because we do use elevated premiums. i was looking at march, buying as close to money as i could 105 calls a little over five bucks. just over four bucks a share on a stock that's 102.5ish at close. significantly less than the implied move over 8%. >> carter, how does the chart look >> in this case we're coming off a bad heavy volume drop in gap last quarter plunged from 110 to 100. i think we're going to retrace that to the upside the chart that you'll see the annotated. we have a well defined head and shoulders bot

they're seeing about 68% of activity compared to prepandemic times. i'm sarah stinson reporting live in san francisco. back to. >> thank you, sarah. now to a big blow to tech is 2 of the world's biggest companies. amazon and microsoft are slashing thousands of jobs. amazon reportedly plans to lay off 10,000 workers this week. the company is slashing 18,000 jobs in total, which is just a fraction of the one and a half million employees. amazon has worldwide. microsoft is cutting 10,000 jobs globally. in a filing today, microsoft notified employees of the layoffs, some of which are effective immediately. the company operates 3 offices in the bay area and san francisco, palo alto and mountain view fewer than 50 workers in california are said to be affected by the layoffs thousands of tech workers being laid off in recent months for santa clara county residents than usual. >> are facing the prospect of not having health insurance today, county officials urged people impacted by recent tech layoffs to apply for covered california >> santa clara county is h

. >> reporter: from the city police officer's association wants to see more cases to prepandemic levels. he's hopeful tell new d.a. will see it the same way. >> individually, as institutions, we are not going to get a handle on it. but together, working together, arresting suspects, prosecuting suspects, helps reduce crime. >> nbc bay area news. >>> up next, a disturbing update following the tesla crash yesterday. the car drove off a clip in pacifica. >>> plus, lawmakers at our nation's capitol. the new congress members sworn in by vice president harris today. >>> and as the storm rolls in tomorrow, wind gusts of 20 to 50 miles per hour coming out of south. south. i'll have details on the rain. oooooohhh, it t is cold ououte time t to protect t your vehice from wininters wrathth of course e the hot susun can be touough on vehihicleo time t to protect t your vehice from wininters wrathth you needed weathertetech all year r round! you needed weathertetech come o on, prototect your i investmentt laser r measured f floorlines anand cargolininer will shieleld the carprpeg from s sand and sns

the meanreversion dynamic of the vix, 18 handle is lower than we have been since prepandemic. >> we're on the same page. we talkabout consumer sentiment -- trading sentiment and whether or not it gets oversold and whether or not we start to get to a place after malaise where we're not risking. people have been conservative coming into the market, and there's good reason to be. but at this point, i think you've got to look at the vix and start to say, feels like people are starting to get very comfortable with this rally, which kind of undermines what has led to the rally in the first place, which is everyone was positioned defensively it was a consensus that this first quarter or first half was going to be pretty challenging and we were going the rally into the back half. but the fact that we're rallying and making new lows -- new seasonal lows in the vix is concerning. >> maybe they're not long enough maybe it is actually a bullish scenario setting up because they're not long enough to actually hedge against what they should have on their books i think you touched on that bonawyn, but

department released a new consumer report showing that service complaints were up nearly 400% from prepandemic levels. >>> a longtime bay area lawmaker says she plans to run for the senate in 2024. barbara lee. she spoke about her plans in washington, d.c. she was talking with the congressional black caucus when she indicated she does intend to run. feinstein has not said if she'll retire but that hasn't stopped people from throwing their hats into the ring. katie porter said yesterday she is launching a senate campaign. >>> while his republican colleagues want him gone, representative george santos won't budge. last month santos confessed to lying on parts of his resume, numerous lies. he said he graduated from a college but didn't graduate from any college. he claimed to have jewish family. it was announced in a press conference they want santos to resign. they say they can't trust him and that he deceived voters. >> many groups were hurt, specifically i look at those families that were touched by the horrors of the holocaust and feel for them. he has no place in the republican committee nor

at the 80,000 just a month ago they're down to 71-something and they were at 50,000 prepandemic. that's a good barometer for all of this. you got to turn the clock completely backwards >> not entirely backwards. once again, use apple as an example, the 20% benchmark is a good -- is a good indicator. ultimately the issue here is that the head count growth being at the same pace of revenue growth is one piece. the second is, it's impossible to make the proper changes in the speed that these companies need to do it. the one company that has done it, obviously, twitter, and that has its own -- >> let's talk about that, though because -- and i will say, in davos, one of the things that i heard from so many different tech executives was almost a level of awe irrespective of what you think about what's happened at twitter, a level of awe from a management perspective of the willingness to cut as deeply as he has and a sense that at least thus far, it's working meaning that the service hasn't broken down completely >> in part of my belief, i agree, it is impressive. i think it is freeing

. >> global air travel could return to prepandemic levels this june with china leading the way. that is the word from international aircraft leasing company avalon. it says it expects a full recovery in passenger traffic over the coming months driving the rebound, they say, is the reopening of markets in asia, especially china, which scrapped this strict quarantine requirements last week. global businesses are preparing u.s.. china is the world's largest source of outbound tourists. >> coming up next in sports, forty-niners advance to the next round of the playoffs and are watching the bucks in the cowboys game pretty closely as a reason for that. kate rooney has reaction kyle shanahan >> and now kron 4 sports. >> no matter who their opponent will be next sunday, dallas or tampa. the forty-niners are already in a great situation since they played saturday. they'll have 2 more days of rest between games than their opponent. doesn't 19 weeks into a football season that is in valuable. now, of course, rest for pro athletes and coaches looks a little different than it does for the r

and so we take prepandemic paying loose and we compare it to post-pandemic things. the study examined 62 downtown areas. san francisco having recovered the least out of all of them. this is not a surprise to local economists companies. no way we've seen tourism down. >> got of all of these effects in people moving away from san francisco. so all these effects of really kind of come to a head in the downtown economies. researchers believe a part of the problem is all the vacant offices in san francisco. they've changed their work, addressed to their home and rest. >> so that's what's affecting san francisco chapel says the key is getting a different kind of work force into the offices or changing the way we use the office. space services go kind of set the stage for itself and in the end zone doubt, residential years ago, it double down on office commercial office in this the time zip code. that's what it decided. this area of the city should be and >> it was the wrong bat. >> a lot of people talk about housing in the downtown area and that's the easier said than don

that's prepandemic. i have to go back to 2019 because that's prepandemic. and we traveled 66 case. we all know the flying day you have a bed check at 6:30 it doesn't count. when you fly out at 11:30, that doesn't count as a workday. then you have two days most the time where all your committees and subcommittees are trying to jam it in and you have floor votes and it messes everything up and everybody still needs to fundraise and have conference and caucus. we need to be in d.c. more because that will then allow us to hopefully build relationships. i have built some of my closest relationships through this committee. i have worked with derek and dean phillips, emanuel cleaver, had a keep williams, all my friends on a number of issues and we have not -- our principles are intact, we have not in one way sacrificed principle but if we agree on something, we should work together and we've had results and that's how it's supposed to be. and the other thing, this job is very challenging. all the time issue, travel issue, away from your family, a lot of people yell at you. it's been very

i was just kind of looking to get back to prepandemic normalcy. >> reporter: while robbins took a pill have a saysid he didn't have a saysd he didn't have a he didn't have a single drink. >> i was pleasantly surprised not having any cravings for alcohol or specifically my martini. >> reporter: and since the experiment, he says he drinks less than he was during the pandemic. another drug the nih looked at that's typically used to treat high blood pressure also showed promising results for alcohol. what would you say to doubters who would say a pill is not going to fix somebody who has an alcohol dependency? >> i would say you are right. pills are not going to fix everything, but pills, medications are going to help people to fix the problem. >> reporter: the medications they're studying could be years away, but the nih wants to raise awareness for patients and even doctors that there are options to help. kate snow, nbc news, baltimore. >>> up next, the new musical introducing people to a side of singer neil diamond they've nenever seen beforere. ♪♪♪ in m my ozempicc® tri-zonon, i lolowe

most americans have returned to prepandemic normalcy. himself stated, quote, the pandemic is over. unquote. so why does biden continue to extend the covid-19 national emergency? the answer is simple. to force americans to live under extreme measures that deprive us of our freedoms. it said, sad to hear the other side talk about all this lack of tyranny and not following the rules. we were forbidden to do our job. the national emergencies act requires, demands that congress every six months look at this national emergency and decide whether to up or down. that's all it did. in the two years since he's been president, we have done neither. it is high time that we answer that call and do our job. at least the senate has done it twice. i think we need to get back to -- get back to the power of the purse and holding this administration quibble. time's up -- qui quibble. time -- accountable. time's up. the speaker pro tempore: the gentleman from massachusetts is recognized. mr. mcgovern: i want to ask unanimous consent consent to insert into t

the layoffs in the tech space are bringing them back to where they were two years ago or prepandemic. not going back to levels before that >> julia, thank you very much on those spotify layoffs. >>> up next, many large wall street desks say chances of a recession are falling. but like we talked about, job cuts keep on coming. who's right? we'll discuss. stocks going higher as the hour begins nasdaq higher by 2%. the dow up around 370 points "techcheck" is just getting started. another busy day? of course, you're a cio in 2023. but you're ready. because you've got the next generation in global secure networking from comcast business, with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want... your team, ours or a mix of both... with the nation's largest ip converged network, from the most innovative company. bring on today with comcast business. powering possibilities™. (♪ ♪) how do we demonstrate our unmovable strength? (eagle call) nope. how do we show that we'll stand tall through the storms? nah.

>> i think this year will feel more like prepandemic years.ost emergency programs, they're gone over the course of last year. but due to a washington, dc holiday, tax failing deadline is april 18th , not the 15th. procrastinators have a few extra days. be on the look out for w2, 1099. you will receive your bank, investment, mutual fund over the next weeks. a lot of these are available online. if you are an itemizer review checking accounts for deductions like charitable donations. use not last year's return but use the 2019 year return. that will be your guide to what is missing. if you use intervening years, you will get messed up. >> good to know. i am excited i get an extra couple days. give us insight on what's the best way to file especially if you are eligible to receive a refund. >> very sophisticated formula. paper equals problems. hear this please, if you file electronically and use direct deposit, you will avoid headaches. if you do a refund, it's the quickest way. you will likely receive within 21 days as long as there are no issues

chairman of the hong kong tourism board, it may take one or two years before towism goes back to prepandemica, back to you. >>> the nfl's regular season has come to an end, and the playoff picture is now set. but the green bay packers won't be a part of it. facing the detroit lions in green bay, packers control their own fate. if they win, they're in. but the lions hung around all game getting two rushing touchdowns from jamaal williams. and detroit eliminates packer's chances. the seattle seahawks get the find wild-card spot in the nfc. as for the top seed in the nfc, that goes to the philadelphia eagles who bilked the new york giants, 22-16 on sunday. philly welcomed the return of quarterback jalen hurts who missed last two games due to an injury. but the staff and the eagles was elliott who made fike kicks. the end of the season was also the end of the line for lovie smith who was fired sunday as head coach of the houston texans. it came hours after his team defeated the colts in indianapolis, 32-31. tight game. houston won a dismal three games in smith's only season on the job. >>> and t

and here you have the home builder etf, which is not back at the highs but way above the prepandemic levels and it's basically right on the verge of getting toward those levels that were only ever seen in the 2021 housing nirvana boomtime so it teams like the market is saying we're going to refresh demand with lower mortgage rates and the consumer is okay, or maybe something secular going on in terms of the shortage of new housing in this country. worth noting, a lot of mixed messages in this market. we'll try to decipher some of them as we close out january take a look at the major averages all higher for the month the s&p is on its pace for its best start of the year since 2019 the nasdaq on pace for its best month since july tomorrow, we'll get the latest interest rate decision from the fed and we will see if this rally holds up in the face of that let's bring in tony dwyer. good to see you, tony. obviously, we know what the leading indicators have been saying based on what the market has been hinting it. any pause on that sflont -- front? >> price has an amazing way of changing s

compared to prepandemic levels in 2019, in the 2022 fiscal year accommodations tax corrections were upost 50% our state revenues were up 46%. and ignition tax collections were up 28%. not only did we drive our way through a deep debilitating pandemic with our decisions based on common sense and the constitution, but we thrived. tonight, we will recognize several of the businesses which announced new investments in south carolina during the record-breaking year of 2022. as you will notice automotive industry continues moving towards electric vehicles. and south carolina has moving along with it last year, i issued an executive order for prioritizing recruitment of manufactures to ensure that our state will continue to be seen as an ideal place for manufacturers and their suppliers to do business. south carolina will continue to adapt as industry innovates and grows. red wood materials will invest three and a half billion dollars learnlings announcement in the history of south carolina and create 1,500 jobs for a new battery material recycling facility. in the upstate, bmw will invest 1.

it's 500 basis points off of where it was prepandemic you pointed out what will drive that you saw reallyin january we'll continue to see that throughout the year. and you end with f1 in november where hotel room rates were three times what they normally would be in that week. and throughout the rest of the year, you have really good events in marketing that will kind of help where operators like mgm can raise reitz >> there's a lot of skeptics that point out with covid i infections swirling around in china, you will not get that massive return in macau that you see in las vegas >> we think there will be movement just given the structure of changing the model. we wanted a little bit of exposure las vegas sands, we do have an outperform because of their market share in macau, but we don't want to put all of our eggs in the macaw basket we like online sports betting, then i halas vegas, then macaw, that order >>> we'll be right back. at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people

electronics, 9% less expensive than prepandemic other areas seeing only a single digit drop but making below what consumers were paying a year ago. those lower prices not good for e-tailors but have been offset by shipping costs also falling to near pre-pandemic levels. take a look, that orange line represents rates for on demand trucking they have been buying back capacity and offering lower rates that are lower than the blue line which is contract rates. thas that's the kind of rates that etsy or amazon would buy. >> here's what i'm worried about when it comes to e-commerce. their margins this earnings season with all of the extreme holiday discounting that we saw and their labor costs still high, is that priced in? or are investors gauche to get surprised by that over the next two quarter snz. >> when it comes to labor costs when we're talking about e-commerce, those costs have come down significantly. they have their investor day, i spoke to their ceo last year, a year ago, they had to pay big premiums to get workers in their fulfillment centers. this year it's gone away and he bel

interest rates make growth stocks and broader economy stocks a lot more attractive >> feels very prepandemic almost, bob. thank you very much. our bob pisani >>> in the bond market, rick santelli tracking the deeper inversion in the three-month and ten-month yield curve. >> we have the historic inversion of three months versus tens we see two yields starting to roll over while everybody is paying attention to long-dated treasury yields. look at this two-year chart going back to mid october and realize should we close under 4.18, it will be the lowest since mid october. when the short end starts to turn lower in a market driven by fed nervousness, you need to pay attention. the ten-year current on pace for the lowest yield close in three weeks. however, anything under 3.41 would be the youngest close since mid september. i know we're a bit aways from that it certainly happened quickly after at the end of the year we saw rates moving up off that support level. we're getting close to retesting it again keep in mind, 3.48 to 3.50 is considered a big pivot by the technicians trading ten year it's

so demand for air travel is returning to prepandemic levels across the u.s., but failures in the past exposed the weaknesses, the vulnerabilities in the country's aviation industry and, of course, the automated system it relies on. on wednesday an faa ground stop caused 10,000 flights to be delayed and another 13,000 canceled. faa says the chaos created by assisted outages was all sparked by a single corrupted file, and this comes just weeks after that major meltdown with southwest airlines that saw thousands of flights canceled or delayed. joining me now is transportation analyst mary sciava. always good to see you. i always like to get the vow from them to mitigate the risk of a meltdown happening? do you trust that this won't happen again? what kind of changes are they even considering? >> the problem is this nightmare keeps happening. southwest is the most recent one. they've had a number of glitches. of course, the glitch two weeks ago was not the only one. in 2022 and 2021 there were also problems. the problem is -- they're somewhat related although they're not tied together exa

whenever, the economics of the business were to be such, that we as you say we're at 60 or 70% of prepandemic, if the economics of the industry just become such that it doesn't allow for big swings like terminator and titanic and avatar? >> i think it's fine. i'm a story. i love having a camera on my shoulder. i'm a story teller. whether that's streaming, i'm good with that as long as everybody else has to live with it. >>> when we come back, jim cameron tells me how his unique childhood dreams inspired some of the biggest movies of our time. and the "titanic" mistake he says he'll never make again. how bad was the backlash in hollywood -- >> okay, we went there. all right. ................. there's nothing like hitting the waves. there's nothing like volunteering. but my moderate-to-severe eczema can make it hard. now i'm staying ahead of it. dupixent helps heal your skin from within. so you can have clearer skin and noticeably less itch. serious allergic reactions can occur that can be severe. tell your doctor about new or worsening eye problems such as eye pain or vision changes including

it is hoping to get back to 70% of prepandemic operations by the end of this year.hat shows you how far some of these industries have to go and how much they're counting on unlocked chinese travel dollars in the months to come. >> ivan watson live in hong kong, thank you so much for your reporting. >>> in iran, state media report authorities have executed two more men linked to anti-government protests. mohammad mehdi karami and seyyed mohammad hosseini were hanged saturday after being tried if an iranian court. at least two other men were executed last month. nations around the world are condemning the killings, including the united states. in a tweet, the state department says in part, it condemns iran's, quote, sham trials and the execution of two more men in the strongest terms. the u.s. will continue to work with partners to pursue accountability for iran's brutal crackdown. amnesty international described the men's trials as bearing no resemblance to a meaningful judicial proceeding and says their convictions relied on forced confessions. cnn nada bashir is in

apple in terms of both the valuation has not really come in that much, it's still, you know, above prepandemicels, but also, kind of growth rates are plus or minus not much it's not as if there's been some huge downgrade what they're going to earn. how would you approach it at this point going into the numbers? >> yeah. i wouldn't touch apple because you brought up all the same issues i have, and don't forget the final one. it's trading at a 24 times p/e this company was not growing revenues in 2019, and the pandemic in, you know, multiple portions of their business don't forget, smartphone unit sales for the entire industry was down 4 years in a row. the pandemic hit, and then we all went and upgraded, like in pcs. you're going to see a digestion phase this year. you can walk in any store and pick up any iphone you want. demand is so strong you're not stocked out. my evaluation, the opposite of intel, much higher of s&p p/e of 18 times, the market wasn't growing before the pandemic, and people still like it because, let's face it, most of us are carrying an iphone in our pocket and some sense

shortage problem, we have one, there is a million women still missing from the labors force since prepandemicve your productivity problems with technology. and so if you just look at the digital economy, it has grown to 10.5% of gdp. and in the robotics angle has grown eight fold from 1993 to 2021. two times faster than overall cap-ex, four times faster than gdp. so i think these companies are giving you, these stock prices are giving once in a generation opportunities to just pick away at them because they are going to solve the problems that we face as a nation in the coming years. charles: before i let you go, we tease this a lot, so i want to put this chart up. you're saying oil is a no-brainer. in part aggregate dividend yield, folks, 5 1/2%. you know the old saying get paid while you wait. 5 1/2% for the cheapest sector in the market? i agree with you here, nancy. thanks a lot. talk to you again real soon. >> thank you, charles. charles: coming up my takeaway losing faith, avoiding solutions that only aid the global elite. first the war on naked short-selling. how to fight back. listen

that's 7.4 billion number is still down 36% from prepandemic levels.n you think about it, how many companies have recovered that badly so after hanging on for more than two years since the onset of the pandemic, the owner of regional cinemas finally filed for bankruptcy protection in september of last year cinemark finished down whoa amc's entertainment is down slightly versus late 2019 but that's because it's an annoying stock with a legion of individual investors eager to throw money at this thing no matter what and amc is happy to take the money but both amc and ape, the preferred class of stock, they created for these people especially for the memesters are down since august. you can't make this up it's a really bad sitcom that said, maybe the depressed movie theater business is more of a post covid hangover as people haven't gotten used to going back, jp morgan should note where they recapped the 2022 box office results actually upgraded cinemark. movie theaters lagged behind concerts or theme parks and blame this on last year's limited film suppl

it is not like they're going below prepandemic levels. neil: that is a good distinction.0 was unrealistic barometer. >> 2020 we had terrible second quarter. it ramped up. end of year was fantastic. 2021 was off the charts. the fact that recession is measured by two consecutive negative gdp quarters, you're comparing that year-over-year to 21. of course '22 will go down. we're adding quarter of a million jobs per month. neil: 10.5 million. >> correct. ton of job openings. we have immigration issues which is a huge problem on that. we have infrastructure who will be building all the bridges and roads? there are challenges where the people are but the economy is not in a bad place. neil: you and i were talking about not anytime someone loses a job it is not good. much was made of the 18,000, up to 18,000 amazon could lay off but they have 1 1/2 million workers. similar with 3 or 4,000 at microsoft. they have almost 300,000 workers. so percentage terms they're not going nuts right now but could this be a preview of coming attractions? >> it could be. i would challenge again,

the justices returned to the prepandemic tradition of announcing their decisions live in the courtroom. >> it's 9.37, and it was a decisive win for the forty-niners. there's killed with his glory, raising his hands there and the fans are reacting. we'll have our team coverage coming up. >> and for today, plenty of sunshine as temperatures reach the upper 50's. still a little bit of a breeze. hang on and how traffic front you know, our fridges are looking much better. we'll be right ba (vo) at wells fargo, direct deposits come up to two days early with early pay day. what if everything came two days early? (hero) have a good weekend! alright now... have a good weekend. (co-worker) but it's wednesday... (co-worker 2) see you monday! (co-worker 3) am i missing something? (hero) it's the weekend baby... see you later. (vo) like getting things two days early? when it comes to payday, you can with wells fargo. (co-worker 4) what are you doing this weekend? >> and we're back at 9.40, in san francisco. 25 people were displaced after a fire broke out and burned through 2 buildings. this was on

commercial reason collections have improved and stabilized to what we are more or less benched prepandemic levels of the majority within their rent this year. during covid a small number terminated or decreased lose hold there have been others that i mentioned identified to back fill the agency. we anticipate our total ex pend tours within the budget adopted. and as we anticipate fully extend thanksgiving budget in 2023, we are projecting that our expenses will likely exceed our revenues. and so that will result in tic being responsible for paying balance of the short fall. that is budge the. >> funding verse subsidies required by the dda approximately 2.3 million dollars. in additional ref now in 2023. and tida is now invoicing for the direct development or city costs quarter low. which was budgeted at 10.8 million. the typey 2023-24 budget. as we approach this budget season for 2024 fitsical taking in account the mayor's budget instructions than i don't apply to tida it is noise to know the budget planning in the city. the starting point we are looking at mou is the second year budget ad

so we take prepandemic paying loose and we compare it to post-pandemic things. the study examined 62 downtown areas. san francisco having recovered the least out of all of them. >> this is not a surprise to local economists companies not away. we've seen tourism down. >> got of all of these effects to see people moving away from san francisco. so all these really kind of come to a in the downtown economies. researchers believe a part of the problem is all the vacant offices in san francisco. they've changed their work, addressed to their home and rest. >> so that's what's affecting san francisco travel says the key is getting a different kind of work force into the offices or changing the way we use the office. space services go kind of set the stage for itself and in the end zone doubt, residential years ago, it double down on office commercial office in this the time zip code. that's what it decided. this area of the city should be and >> it was the wrong bat fun of people talk about housing in the downtown area. and that's the easier said than done. i spoke w

a lot of tech companies are scaling back from their prepandemic expansion fears of the layoffs couldat's to come for other job sectors as well. >> ryan bass takes a look at that. >> there's been a lot of talk about a recession coming and then we've seen this huge purge across the tech industry, layoffs among some of the biggest brands in the entire world. so is that a warning sign for other sectors of the job market? i spoke to 3 industry insiders to get a gauge of what's to come for this year and beyond. >> the signals are there not as frothy of an economy. let's just say that fears of a recession are sweeping silicon valley as tech giants like google, amazon and meta and microsoft slash jobs and cut costs. >> but is it a sign of things to come for all with the technical the writing on the wall. >> really can affect all of our lives. so this is the beginning of something. but what exactly is that something? >> layoffs have been common in the tech world, especially after rapid growth during the covid-19 pandemic. but other sectors of the job market aren't seeing the same cuts. the ec

and tech companies, microsoft all of them are scaling back from their prepandemic expansion and they're still doing it. the fears are prompting. >> the fears popping these layoffs could be a sign of what's to come for other job sectors to weave ryan bass. taking a look at what's driving these layoffs. >> there's been a lot of talk about a recession coming and then we've seen this huge purge across the tech industry, layoffs among some of the biggest brands in the entire world. >> so is that a warning sign for other sectors of the job market? i spoke to 3 industry insiders to get a gauge of what's to come for this year and beyond. >> the signals are there not as frothy of an economy. let's just say that fears of a recession are sweeping silicon valley as tech giants like google, amazon and meta and microsoft slash jobs and cut costs. >> but is it a sign of things to come for all with the technical the writing on the wall. >> really can affect all of our lives. so this is the beginning of something. but what exactly is that something? >> layoffs have been common in the tech world, especia

you look at since 2019 just before prepandemic, up over 300%. the matter is, is that passengers are getting sick and tired of all of this. they do not like all these delays. what a big shocker. but this is just something that's really wearing on the airline industry at large. >> and it is unbelievable to think -- i mean, of course we've got so many aging infrastructure. doesn't just mean bridges. it means the systems that actually keep planes in the air and people alive. in a sense, it's terrifying when you realize how frail it is at best. the reality is that people used to like the airline industry. >> this is, i think, you know, we're so used to the idea of we're going to be sit on these planes and we're not going to have any meals or our flights are going to get delayed. but the fact is think about the glory days of flying in the sky. think about the late 1960s. i wasn't alive back then, but my mother tells me it was quite nice to fly. and when you look at the favorable view of the airline industry, it was well into the '60s. compare that to

alphabet, announcing 12,000 job cuts, they could lay off 20,000 and still be at the levels prepandemic there, is some meat to be cut there. charles: right. >> or some fat to be cut there. but what i think is, what you're looking at google, alphabet, the stock is cheaper than the broader market right now. it has never been cheaper than the broader market. if you see job cuts come through that -- charles: it's a value play. ask you real quick in 30 seconds is jenner rack a value play? 500 bucks to almost 100 bucks. yikes! this is nuts. love the way it is starting to turn here. you look at a stock like this, retracement from what they lost you can make a lot of money. >> retracement where they announcedder earnings last october, it would be 30% from here. generac trades cheaper than the market, trades cheaper than the industrial sector and has really great long-term headwinds, long-term tailwinds. charles: i look at it as a quality product. appreciate it paul. >> thanks. charles: coming up, my takeaway on politics of envy. we have tesla, microsoft, they are going to report, should be you

but prepandemic. we spent about 42 billion dollars in the movie theaters. james now in 2023 were expected to spend about 29 billion. so out 14 billion short. tell me that hollywood in probably needs to tighten their belt and get more movies out sooner rather than later of again. china was the problem this year in films because they have the 0 covid policy her had until december it. there's such an important markets that are really contribute much last year. the movie theaters and the movie's coming out of hollywood in la. so i'm still pretty tough times in my opinion, improving but still not where we werl in 2019. >> so ways to go still. but hopefully keeps climbing. rob, thank you as always. we'll chat with rob again tomorrow. so get your questions. get your comments. let them know what you want to talk about by reaching out to him on facebook, on twitter or emailing him directly at emailing him directly at robert rob black dot com. when a truck hit my car, emailing him directly at robert rob black dot com. the insurance company wasn't fair. i didn't know

the other one anheuser-busch is a different story, but another one well off its prepandemic highs, great brand, don't have to worry about it in a recession, because frankly alcohol consumption does not fall during recession. people trade down a bit. so it would hurt their earnings somewhat, but not worried about it if you don't get a recession, you probably continue to have people buy premium beers, and that helps them pay dune their debt quicker which allows them to more quickly return cash flow to shareholders. >> final comment, what are your thoughts on kind of the bank earnings we see wells go from minus 5 to plus 2 and the market whiplash tells me people arec confused what is your takeaway here >> i think my takeaway was the actual earnings themselves for the quarter were quite good. core banking earnings continue to be very good. in a lot of cases growing loans, also the loans -- the net interest margin was good i think a lot of that, that was good i thought, frankly, this morning when they were all down, really a response to all those comments you put on the screen, which is, hey,

remained resilient with deposit balances, consumer spending, credit quality still stronger than prepandemicf the things that wells fargo -- this is what the street seems to be focus on right now, the stock isn't jumping as much as it could have because of the loan loss provisions. i said this earlier. every bank we're looking at for this quarter it is about loan loss provisions and wells fargo just went into the red. they say that wells far he grow, we're watching the impact of higher rates on our customers, we think we're going to see deposit balances, credit quality continue to return towards pre-pandemic levels. still it looks like there's pressure on wells fargo and again, i have to point out once again for this one, that this is the provision for credit losses. and they're saying that credit losses at wells fargo, again, have increased slowly. credit quality is still strong. but they are seeing credit losses continue to increase. so maria, a lot -- i threw so much information at you. my apologies, it all crossed at once. this normally p doesn't happen to me. the big headline, the one y