for resiliency at the edge, trust schneider electric and it orchestration by cdw®.ople who get it. emily: we are back with mark. i have to start with meda. -- meta. the market cap is less $250 million. we are back to 2015 levels. what you have ever thought this could be possible -- would you ever thought this could be possible? after this company achieved such historic highs? mark: i do not think it was probable or i would have had a buy on it. this company hit disposal of apple privacy changes, competition from -- this company hit the buzz saw of the apple privacy changes and competition. the issues that came up, the market wants them to cut out the metaverse. rain in expenses. it is a recession. when that happens, mary down, ratchet down, expenses to match up with the deteriorating revenue and the company is refusing to do that. i think this last part is selling on the part of investors who are saying that this is not the revenue results people expected. the clinging to this aggressive investment horizon and the market has said that is too much. we are out of here

coming up, we'll talk with schneider electric's north american president on how they are responding tote challenges. that is next. this is bloomberg area --. >> this is bloomberg markets. the french tech giant is hosting a summit in los angeles to discuss what calls a triple crisis in energy, economic and climate. we have a special very special guest. >> we are joined by the north american president. snyder electric sits at an intersection where you help big companies with big construction projects with energy efficiency. on the hardware and software side of those three crises, what is top of mind for your investments and customers? >> we are actually in vegas for 1500 customers. we are hearing that the energy crisis is actually accelerating their journey to energy efficiency and sustainability. if you think about it, when energy costs go up, the return of investment on many technologies that help you save actually become faster, so sustainability and investments are getting much faster. second, we are finding that customers are asking for this. clients going to a company are asking ho

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for resiliency at the edge, trust schneider electric and it orchestration by cdw®.et it. haslinda: let's take a look at markets china, the csi 300 swinging between gains and losses. we are keeping track of china developers on the back of news that the longfor chairman is quitting his position. wu's move reflects their strategy, longfor slumping more than 24%. take a look at macau casinos as well on the back of covid cases, the most so far this year. mgm china unscathed, currently up about 1%. rishaad: we have seen wheat prices on a tear. these are companies having to buy that wheat, looking at graincorp, one of the companies that sells rice, soybeans and the like. wheat pmi numbers sending these rishaad: that's what shanghai looks like at the moment. just heading off to the lunch break, of course, just seeing the reaction in terms of pmi numbers weaker than expected across the board. as certainly we look at components within those pmi numbers and found there were new forward-looking orders, they were way below the figures we got before here. pmi for manufacturing 49

for resiliency at the edge, trust schneider electric and it orchestration by cdw®.> what we are seeing is that the dollar is causing a lot of problems globally, in emerging markets and elsewhere. so it was a case to be made that if you think you are getting benefits from a strong dollar, that this reverse currency war is kind of playing your way, you're probably fooling yourself. >> that from standard chartered. good morning, lisa abramowicz and jonathan ferro. tom keene back in a couple days. s&p 500 slightly negative, down .2 percent. yields up almost a basis point in germany, 2.20%. 96.94 euro-dollar, down about .5%. that is the weaker euro. lisa: how much is because of the conflict between ukraine and russia and the acceleration? and how much is because it feels like the ecb is even more between a rock and a hard place in the federal reserve not able to tighten as much and credit concerns about peripheral yields? you see that with yields rising today. jonathan: and we will see that again in two weeks time. let's go over to maria. maria: we are joined here by the

for resiliency at the edge, trust schneider electric and it orchestration by cdw®. who get it. jonathan: three hours away from the opening bell. your tuesday morning price action on the s&p 500, negative one third of 1% big gains yesterday. on the nasdaq, down .2%. on friday, we had a look at 4.60. we are down to basis points. to the other side of the pond, to the u.k., two year bond yield in the u.k. yesterday down 37 basis points. the biggest move in 30 years. rishi sunak about to speak in four minutes time. the switch to the budget and the bank of england in a week. tom: i will go from what we have done with draghi at davos, is there something different here in the political equation? jonathan: what is interesting to me is whether the chancellor is jeremy hunt and we get the budget in the way we thought we would have at the end of the month and what that looks like. do they go further when it comes to spending cuts? tom: further austerity. who is michael gove and where does he fit in? jonathan: probably a question for lizzy burden and rishi sunak. eps at 189. tom