emily: i want to stick with shopify.ning us is the present. -- president. >> we are in this new normal post-pandemic. i don't think there's anything average about what shopify and merchants are building. as things begin to settle into the post-pandemic trend, our shops are growing at an extraordinary speed. it took 15 years for our merchants to get to $200 billion. when you look at revenue, we hit 1.1 billion dollars in revenue, up 46%. we are seeing more merchants coming to shopify. they are taking more of our services. we are building the essential internet infrastructure for commerce and we expect q4 to grow substantially faster than the retail sector overall. emily: how are the supply chain issues affecting shopify and the businesses that rely on you? >> we did not see material impact from supply chain. delivery times did not change materially from q3 last year to this year. the small businesses and merchants that use shopify are always facing new challenges whether it be the pandemic or the supply chain. our merchan

we are seeing more merchants coming to shopify.e launching more and getting larger on shopify, and they are taking more of our services. what is becoming clear is that we are really building the essential internet infrastructure for commerce and we expect q4 to grow substantially faster than the retail sector overall. emily: ok. how have the supply chain issue challenges, how are they affecting shopify and other businesses that rely on you? harley: we did not see any material impact from the supply chain. we saw inventory levels and delivery time not change much from q3 last year to this year. it seems like every single year, small businesses and the merchants that use shopify, they seem to always face new challenges, whether things like the pandemic, or the supply chain in this case. we notice that merchants are really good at being resilient. we also have a fairly diversified merchant base. many of those sourced locally and have room in their margins, or absorb some of these shocks. you have to remember that most that merchants o

we'll hear from the president of shopify, the ceos of hawaiian airline and twillio. >>> kayla, phils to you -- first on the big news out of menlo park because facebook is announcing its name, changing its corporate name to meta under the new ticker symbol mvrs let's bring in steve kovac steve, good to see you >> this is all about mark zuckerberg taking a step back and saying instead of working on our traditional social media apps, i want to focus on the future, and that's this metaverse thingwe've heard him talking about. he believes in it so much he just changed the company name to reflect that. >> do we think the name change is related to the recent troubles that they've had? clearly they could continue pushing into that area for earnings reasons, for revenue reasons, either way, without a name change. >> of course they could continue building this mark zuckerberg talked about it. he said, no, this has been in the works for a while. it's totally part of their vision for the future of computing, and that's why the name change is happening, not a distraction from everything else. >>

but shopify, a lot of people are underestimating it, i think, julia.se third party retailers potentially more leverage in the marketplace. they don't necessarily have to go to amazonas much. though of course amazon is really powerful. they have amazon and a range of other distributors to choose from as well as their own channel. but what this is going was shopify and these partnerships is opening them up as an enterprise play as well. they are giving these enterprise softwareplayers the opportunit to tap into shopify small businessers growing into needing erp and more data base services, things like that shopify becomes the place, the platform where they can find them there's tremendous potential value here we have to see how they play that, julia. >> and, yes. shopify, of course, also brings so much potential value to those small and medium businesses especially as they navigate these new alternatives to amazon you know, we talked so much about how facebook is investing in ecommerce and this new rise of social commerce and the opportunity for the smal

watch shopify. some of the reversals are crazy.t has reversed earlier losses now up nearly 7% ebay similar story disappointing holiday forecast we just talked a few moments ago down almost 6% and service now a beat for eps in revenue. the guidance was in line stock was down 3% pre-market now you can see it's up 3% jon, there's been a lot of really interesting pre-market and intraday moves on some of these names not in faang. >> what i've been watching most closely, shopify and service now. when do you see a miss on the top and bottom lines and then see a stock up 6% after that but it was a slight miss on the top and bottom lines i think it had to do with some supply chain stuff a bit of a pull one way or the other. but the story overall largely continuing to play out gross merchandise, volume off maybe a little bit, but gross payment volume doing little better because of payment attach if you like shopify before, there was no fundamental shift in the overall story here. i think similarly, beau mcdermott was on earlier today we talk

one thing i would just note here, jon, if we talk about shopify, we should bring up etsy etsy sharesting a boost yesterday from this news because right now pinterest is an advertising company. but in partnering with paypal, if it were to become part of paypal, it would become an ecommerce company and would make it much more in the range of an etsy, jon. >> yeah, it would. interesting also because etsy is right about 30 billion in valuation. so similar to pinterest. and really snap, if we're talking about social commerce, it's probably less interesting to a paypal because it's more of a walled gardenby design there are good things about that when you're talking about privacy and staying out of the crosshairs and some of those issues but when it comes to, dee, some of the things that i think paypal might be feeling pressure on, you have facebook moving more into commerce with shops and now the noviwallet and dm potentially into commerce there, you've got shopify, which is in a way potentially platforming paypal out by partnering with folks like affirm, and then you have apple pay happe

john mentions the shopify, spotify and yesterday about snap and pixel.re's been interesting partnerships developing over the last 72 hours and definitely, any kind of deal would definitely challenge our assumptions about ecommerce which is in an era where covid is less of an era for shoppers that physical retail would once again push ecommerce growth down a bit but maybe that is something that paypal is trying to game out. >> look, i think whether or not this would make sense for paypal is a bigger question than whether it would make sense for pinterest which is a company that is about that social commerce but i do think in terms of what is going to happen with ecommerce when the pandemic wanes or continues to wane, i think there is a sense that the pandemic has really accelerated adoption of ecommerce and also social commerce and the creator of the economy of the sense that anyone is buying or selling anything from any space that they're in i think that even, you know, this is something that i hear a lot about when i talk to people about facebook, as we

shopify has been a beneficiary.t is one of the enduring impacts of the covid crisis, and that is why, that is the underlying justification for paypal and pinterest. emily: i want to ask you about netflix. it posted the strongest of subscriber growth of the year in the quarter. earlier this week, one person, longtime entertainment washer, he said he doesn't think the numbers are as good as they look. he thinks netflix is doing more of the same, and that will make them vulnerable to disney and hbo. take a listen to what he had to say. >> the concern is that when you look three years or four years out, i don't think anybody doubts disney plus will have a larger subscriber base the netflix. they still don't have those offerings. the transition to gaming has been slow. the diversification of revenue, some merchandising, but that does not compare to what nbc universal does. that is the biggest challenge. it is more of the same. emily: mark, what he think at that point? mark: he put a lot of points in their. -- there. a fe

and shopify, of course, a platform and marketplace and enabler.quare can't do what else to two companies do is the space too big >> no, the reason, for shop ify, we think they're emblematic really of structural long-term winners in big growing markets which square is in the seller business, in the cash app segment and then unlocking more of the 10 trillion plus global e-commerce market. we think it's more just emblematic of structural winners that we'll see accelerating fundamentally over the longer term and why, if anything, the last 18 months have caught up in this the impetus for putting the rating on the stock, now the landscape is changing for payments and fintech more broadly. over the long time, it's an absolute must to own the structural winners because you protect against tech obsolescence and over time, the winners are going to see an increasing share of market strength with square. >> trevor, your view is so bullish here you're modeling 85 million of the cash app and it's more than double than today. i would ask whether this area is jus

to keep up with shopify, it may be a competitive pressure. but we are seeing overlap with e-commerce and fintech companies. >> kate, thank you very much pinterest shares up 13%. >>> there is a retail divide that's new shares of poshmark and stitch fix have been significantly underperforming the brick and mortar rivals this year. have the disruptors been disrupted or is something else going none this back to the future retail. jan, are we customary picking these two companies or is there a real shift going on here >> there is a real shift going on there i am convinced that was never really the dichotomy we were talking about. those businesses were always going to be sort of a sideshow to the real business of retail it doesn't mean it is not an interesting niche and doesn't mean resell and things like clubs can't succeed. they can, but that's not really where the consumers is for most of their purchasing. if any of us really thought that was going to be where people went because it was going to save the environment think about it would she in e

there are alternatives they have a lot of competition with shoppers and shopify. runway is there. when that should focus on is data reliability if you are stuck there it would pose a bigger threat >> that is a good point. it could be their only real game in town to hang out and connect. good to see you my friend. thank you for coming on. >> thanks, brian >> coming up, your morning rbi putting the surge of energy costs into perspective laying out what, if any, relief we'll see in the months ahead. >>> and it is hispanic heritage month. here is our news editor. >> taking all the opportunities that come to you if it is not something you'll do the rest of your life, you can take skills from it to lead to your dream job it could end up being something you like and you end up making a full career out of it. just take advantage of all of those opportunities tashey come along and you'll be on track let's get you on some antibiotics right away. you could have it brought right to your door, with 1-to-2 day delivery from your local cvs. or same day if you need it sooner. but

for companies everywhere affirm, it doesn't matter what's said, people have decided that affirm, shopifyw. they're obviously -- they have a road map i like -- you know, they're so profitable, it's extraordinary >> it's extraordinary. >> it's really amazing microsoft -- go back to microsoft's quarter. i can't even fathom. >> the numbers are enormous. we talk about that you know, 25%, you go through the numbers, what they mean, in terms of percentage microsoft may have eclipsed that >> it did. >> but, again, they're both $2.4 trillion >> people are giving apple a pass, and i thought they would apple is barely down i really want to hear about this demand challenge i am surprised at the people who say i want to get out, i made a big gain, on anything with a chip shortage problem. when tim cook said it could get worse, that to me, i was like -- i was hoping to be at the bottom. >> can you extrapolate it, or is it demand picture -- >> the question is, who wants to make they? we really do need -- guys, i want to get to exxon mobil >> 2013. not that many years ago. $250 billion is not nothing --

if there is a long-term strategic rationale, it's getting into e-commerce and maybe something like shopifybuilding block, but i agree there are a lot of eyebrows in the market today. >> dan, when i look at a potential deal like this, the history of large strategic mna, it is not great. pinterest saw 91 million active users in the last quarter. it was decelerating and the stock got hit. this stock went public two years ago. isn't there a longer runway for this company than to rather get gobbled up by a big payment company that is also seeing decelerating growth, is there there something more like a walmart? i could see pintrest being an inroads for a company like walmart. >> i think there may be a confluence of interest here. you are seeing the covid bump in terms of user base spike to your point it has been decelerating they may be under pressure to sell to someone and paypal are seeing e-commerce slow which has nothing to do with them. it is the post covid hangover. and maybe that creates a good combination of good price but also long-term strategic benefit they could not get by each one

competition from shopify has pushed the company into social commerce. >>> if you have video games but find your hands are too small for the buttons, the next invention might console you. >> the screen is about the size of a postage stamp. the system comes preloaded with five game including tetris. >> that will work for me but they don't work so good. >>> it's slick out there. we'll be waiting for the report. starting with the san mateo bridge we have a clear view. look at that damp roadway. you see slight bits of puddling there, nothing major, but slick roadways. we have an issue reported through foster city. a single car crash perhaps a spinout reported there passing by foster city boulevard. everything should be off to the shoulder. here in the south bay a car sort of sideways across the roadway, perhaps a spinout as well in milpitas at the transition of 880 and 237. there may be more slick roadways. there's a crew that should be slowing from richmond. we see some slowing from i-80. the recovery has been really nice for 880 here at the bottom. be careful out there because we're not

tomorrow, we are going to be joined by the shopper five president -- shopify president. bloomberg. ♪ this halloween, xfinity rewards is offering up some spooky-good perks. like the chance to win a universal parks & resorts trip to hollywood or orlando to attend halloween horror nights. or xfinity rewards members, get the inside scoop on halloween kills. just say "watch with" into your voice remote for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards. ♪ haidi: very good morning and welcome to "daybreak australia." we are counting down to asia's major market opens. shery: u.s. stocks falling. investors will be eyeing the boj and ecb after policy calls from canada and brazil. haidi:

to anti-trust scrutiny and competition in the cloud as well as general marketplace disruption as shopify and other direct to consumer platforms gain traction with sellers shares are down nearly 7% since jassy officially became ceo. kind of reflecting what is happening in the market overall. but amazon and jassy has recent successes, as well, growing studio offerings and pushing into gaming with new world that's a hit for gaming, which amazon kind of needed and expanding the prime air logistics network and then the advertising business, julia, which is big quite big. and growing into a force in the industry >> yeah, advertising business one we don't talk about enough amazon is not only third behind facebook and google, but also gaining market share very quickly. john, i think it's so inest thering right now if you look at the particular challenges facing amazon as we talk about all the issues at the ports. this is a holiday season unlike no other and one in which people are used to getting things virtually instantaneously as people shift to ecommerce and this risk that people will be disa

if using the shopify and what they do for the small merchant, this whole operating system, and if usingn the other side, with a gigantic global marketplace, they do it in the middle. so the turnkey where you can suddenly have a market bytes. that came to us because we know this is going to be successful. we have seen this movie before. i think the fact that public market investors are also aggressively investing in private investments it is because the medically, they are the same -- because thematically, they are the same. erik: you said we have seen this movie before. is that part of what differentiates you, having seen a type of business model and then something similar reemerge? anne: whether it is in latin america or in france or in the u.s., there is a wrong way to develop a business model. if you are transporting a business model across to europe and it has been successful in the u.s., you know it is going to work. we invest in a company called zoo plus. -- food settling services, etc. there's a blueprint of success, and we are trying to buy that. erik: you've worked with the bes

tomorrow, we are going to be joined by president of shopper fight -- shopify, harley finkelstein.an francisco. this is bloomberg. ♪ >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. >> the following is a paid presentation furnished by rare collectibles tv llc. >> the biggest numismatic event of the year just occurred. the 2021 morgan and p silver dollars are finally available. and you are first in line to acquire your very own set right now. the silver dollar is the ultimate collector's coin and the two most popular silver dollar designs

they did the shopify deal that we talked about a little bit ago. and now they're doing walmart. is up for grabs. and as we head toward noon, i'd like to point out despite that warning out of red hat, coinbase is up a little more than 5%. zora, the subscription software company also higher. it's great to have you with us and that's it for "techcheck." "halftime" starts now. >>> welcome to "the halftime report." front and center this hour two of the biggest questions facing investors right now. are stocks heading for a correction or a rally? will earnings deliver or disappoint our investment committee debating the answers to both and where your money will work best in the weeks ahead let's go to the wall, market stocks coming off in more than a month. you've got financials, energy, and materials leading today. s&p, nasdaq, the russell all in the green. all right, joe, i come to you first. correction or rally? that's the key question. is this the key week that decide

the kind words about the club, everyone think about it like this i think this stock reminds me of shopify at 200 and got to 400 and i said, ah, know what? a big win. no much more. upstart on everything! amazing. this one is the way. artificial intelligence loans, it's the way to go how about those nice people that like the club? look, it's worth it. it is worth it i'm just getting started you don't even know what i got going down the line's. right now in a seasonally weak period of the market no need to be a hero just right for earnings. watching the troubles threatening the holiday season how do we make sure all of our presents appear under the tree or i'm talking private player flex hear more about the success and our ports and what it takes to fix them for the last 21 years late september through early october has ban toueen a tough time for market we're bouncing back, what's next going off the charts to find out. a few weeks ago stopped me on elements solution. turning homework on the stock to see if this specialty chemicals company can create an interesting opportunity. just might st

makes them part of this kind of amazon alternative digital economy that's driven by the likes of shopify and bitcommerce where more third-party type retailers have a direct engagement with facebook and are benefitting from that data and that engagement as just part of how they do business doesn't have, doesn't facebook have potential upside if that continues to play out? >> yeah, i think the way you just laid that out, absolutely i think at this point, i would argue it's still probably more co conceptual than not. this idea that facebook moves from being social media to more of a social utility. i think one of the ways we addressed that is by saying, hey, if all these companies are built in true daily functionality whether it's getting a ride and ordering food and having banking services. i think one of our theses at this point why that is not as much of a driver is that we're so well banked in the u.s. and europe whereas other parts of the world not as well banked people are marrying those basic sort of financial services with the smartphone for the first time and that's the really comp

liz: you've got some platinum names like shopify, beyond meat, we've got them on the screen, crowdstriketching the surface. i know that because i've followed you guys. am i hearing you say that after record year, you're already 40% above that? what's driving it, and how not free with their wallets are venture capitalists, but are they throwing and salting money in a lot of areas, or is there there anything specific like a.i., for example? that was the hot word. we're heading into ces in january, and that's where we get the temperature of exactly what is the one thing that people are looking at. what can you tell us? >> >> yeah, it's -- what's so impressive about it is it's across the board. it's not in one area. you can look at almost every category whether it's a.i. or clean tech or fin-tech or software or internet or biotechnology or health tech, almost every category is at a record, a record high. and, of course, why is that and are we worried about it. and really what i think is important is even though this year there's been more than $200 billion of money that's gone into venture c

cheryl: from web hosting to consumer payment land go daddy is taking on square, striped, shopify andg point-of-sale devices such as this. this is the hardware, go daddy smart terminal and card reader the web hosting company serves 21 million small business customers, a majority are microsized companies meaning they have 0 - 5 employees, here's the ceo of go daddy, great to have you here i think this is fascinating that go daddy is getting into point-of-sale, yet big competition in the space, are you ready? >> thank you for having me back on the show we are ready and beyond excited our customers have been asking us to extend our services many of our customers do online stores with us, they connected go daddy into the largest platform like amazon to social media like facebook, instagram and half of those customers have physical stores in those customers want one simple screen and they want to be able to pick up the phone and call someone when they have a problem in go daddy has 6000 guys around the world, we've been doing this for 20 years and bringing simple technology seamless techno

in the end spruce point views light speed as, quote, a poor man's shopify, one of our favorite companies one that they're betting will face increased competition from the likes of square, adobe, amazon they think the analysts who follow light speed are missing the story and it's a canadian story and in their view canadian analysts are too nice. light speed claimed spruce point's report is full of inaccuracies and miss calculations when we reached out to the pr representative to see if they wanted to respond to the allegations directly, the company declined to do so. it's outrageous. however, the stock has a bunch of analysts, defenders who jumped in to argue that spruce point's thesis is over blown which is why they think light speed is worth buying. even before the short report came out i said light speed was too expensive. even at these levels it's trading 25 not earnings but sales. that's pretty expensive for a company facing more and more competition in what i think is a slowing industry given the huge costs of opening a new restaurant right now here's the bottom line i won't tell yo

apple, amazon dealing with supply chain crunch issues but we also see shopify dealing with some of thatck yesterday went up. it's a bit puzzling, carl. >> it is and to the degree that ipos live or die on retail interest. one thing that we're keeping in the back of oour heads, john, commentary out of robinhood. whether as the impact on the broader market and certainly for some of the new issues that are so often the center of attention. >> yeah. and, i mean, we've got those moves in zendesk and momentive up right now the part of what these companies are about is data behind these companies and understanding what customers are going to want. understanding the interaction between the company and the customer and that continues to be important. so, d, i think it goes back to, you know, investors for the most part need to be long term and which companies have the right ip and the right strategy to succeed even if they're not popping right now. but i don't know, this zendesk momentive thing especially given the activist in momentive. i don't know if this deal could happen with the stock doing

shopify, spotify, both ripping and even teledock,and snow, oh, my god look at this chart put it up there me, patty. unity, tucker symbol u, looks incredible that makes sense, right? they're also rung up the bank stocks you have a 52-week high in the banks. they're running up reits look at my simon property. 52-week high and they're in the s&p 500 today and a lot of those names look great and even apple is running after a decent pullback, so forget about the cyclical, risk on, risk off. throw that out that is last year's news and it's the worst thing i've ever heard. focus on how many charts in how many different industry groups are starting to set up either because they've bottomed or because they refuse to pull back while the overall market did, and there are just so many opportunities there. >> i love the rift that you went on you highlighted so many important things dr. j., you've been negative relative to other people and he thought rates would move up a little bit any the market may not be able to withstand that and i know we're talking about higher levels than this and that's the k

a reason the scrutiny and some anxiety about using third party seller data is why a company like shopifyy it gives merchants another consumer and avoid any kind of that worry or anxiety that amazon, which does a lot of things very, very well, could come and eat your lunch. >> yeah. just to take a second here, dee, we missed you so much. we're glad you back. especially since we're at the cusp of where earnings start to crush, but we hope you had a great time off >> i did and i'm back just in time for the big earnings week i'll be looking at alphabet and amazon, but i will have my hands full >> tomorrow, jnj, proctor, halliburton. that's just tomorrow before the week getting even busier big week for the half as they celebrate ten years. let's get to the judge >>> welcome to the halftime report front and center this hour, the huge weeks for stock and whether one top market watcher is about to capitulation on his call. we'll debate with our investment company. joining me today, shannon, steve, pete, cofounder of marketrebellion.com. we are also marking the halftime report at ten and all this

but then also players like a shopify, you know, whose very heavily engaged with the exact same set ofmerchants instead o payment flows. so is there something that they do from a retaliatory perspective? even, you know, as i think i have commented before, players like american express who might not be the first ones who come to mind, but american express's core business really hinges on this deep integration of consumers and merchants with rich data and, you know, very unique marketing experiences so, you know, this consolidation of commerce into these kind of other big platforms, you know, might ultimately trigger a move by them as well interestingly. >> fascinating again, really appreciate both of you kind of helping to shed light on what happened with this deal and the implications there. just before we go, alex, and again to reiterate because we will talk about this in a couple of moments, but this facebook name rebrand that i guess you are saying is coming next week, do you have anything to add in, i guess, the 12 or so hours, more than that now since the news first broke >> there's been w

the dollars, amazon was $60 on the dollar but no customer data and 10% went to our own websites on shopify. now many businesses because retail was shut down and amazon went to essential services have built up their direct-to-consumer businesses on their own platforms so they gather their own customer data in a way we never have before. what did we use to do that facebook so i totally disagree with that premise. facebook allowed us to acquire customers during the pandemic and sometimes at a 90% gross margin because we're not paying the margin goes to retail anymore. facebook is the backbone of small business in america, and i guess if you want to shut it off you will find out some really bad news very, very quickly. now, i get the issues around, you know, privacy, but what is being debated on the hill today has nothing to do with just facebook by itself those algorithms are used by every social media site, so we might as well make laws for all of them together it is okay to bash facebook, they're the biggest, it is always good to bash the big one, but the truth is these issues exist every w

never the moon shots like shopify but steady and the reaction of wells fargo almost a day late suggestsoin also having a strong day. crossing 60,000 first time since april. kate rooney with more on the rally. kate in. >> bitcoin is booming into the weekend. this is a continuation of the shift in sentiment we saw really start in october optimism of a bitcoin etf. the s.e.c. will allow a u.s. first etf bitcoin. the industry is clamoring for this product since 2017. a source telling cnbc the s.e.c. is not likely to block the etfs proposed by proshares and invesco and debut on tuesday we got this from cnbc pro today. investor michael bury saying he is not betting against cryptocurrency and not sure even despite the chatter of that on twitter and believes they are in a speculative bubble and read that story on cnbc.com for cnbc pro. back to you. >> sounds like a good one. thank you. >>> two minutes to go in the trading day. off the highs and still going strong >> softened up since the best levels of the morning. net positive you have more turnover to the upside to the downside reasonably goo

clearly a tech investor and some names that i think i have conviction around but are down look at a shopifyand some argue were of a possibly potentially overvalued i didn't think so. ing the it is hard to put a valuation on the high growth companies but those would be the names to look at >> jj, what's your take as to overall sentiment out there at the moment amongst your clients? have they already turned more cautious earlier in the summer and now a chance to turn bullish again or just taking hold? >> wilf, look. we released the imx today from last month and what we see on there is the clients are increasing to have some exposure to the market overall but they're going to names that they traditionally gone to when things get shaky apple, facebook, little bit of microsoft so those are the types of names they go with right now and one thing that changed this month is we had supply chain come in for the first time evergrande for the first time. seems to be more concern overall going forward and most interesting part to me last month is the clients were sellers and then buyers heading into oct

. >> shopify only down 1%. >> look, think about it's kla, a beautiful company.y make semicap equipment. teradyne does testing. there was a story that bloomberg had earlier there were some issues, but it looks like -- from the teradyne call, which was very, very good. that's fine. and then the industrials that are just doing well. some of these companies, yes, were disappointing last night was not a super night, except for ford farley -- i don't want to -- i can't emphasize it enough. detroit is back. farley will change his whole method of buying a car i don't think he serially hates murph, but i told him musk called me a hologram >> it's going to be a fun race to watch ium brands, pizza hut, taco bell beats on the top and bottom line this morning despite some smaller than expected comps for the quarter here to break down the numbers, david gibbs. good morning, great to see you, as always. >> thanks for having me on >> some of the comps were not quite what the street was looking for. any explanation for it. >> >> it was a great quarter in terms of sales all four

boorstin the nasdaq is on pace for the best day since august, best day for the s&p since july then shopify

. >>> welcome back more earnings ahead -- all reporting tomorrow don't miss our interview with shopify they abruptly stopped their asset purchase program today and indicated a near term tightening rate as a result, in general, of higher inflation expectations, it is assumed that higher response will come it may not be perfectly precise and correct, but that's been the direction. >> they are moving towards interest rate hikes. there is one in for april. i thought you were flattering me, but you were just mocking me brazil will be up next i think what is interesting about some of these central banks ready to move. we will see how the market treats the credibility question and are central banks getting too ahead of inflation >> i wasn't really mocking because i think it's interesting. bank of canada is tighting a bit sooner than feds you are fearful of a currency collapse if inflation gets out >> they can't afford to be more patient. they will want flexibility with the statement next week. you have to move fast. >> it will be a juicy fed meeting next week. i cannot wait. that will do it f

also told by the source that the combination is coming from competitive pressure, especially from shopify, which has really blended fintech and ecommerce. and paypal has been moving into that ecommerce and shopping space. if you remember that deal for $4 billion they bought honey a couple years ago pinterest has been in the process of adding shopping services and expanding from that social network shares of etsy, meanwhile, also getting a boost on the back of this news. back to you guys >> kate, i was looking at the numbers on that valuation. if the number that you put out there that they're floating, it's 13 times revenue. if you look at what square paid for after pay, it was more like 34 times revenue so getting it for a pretty good price on that metric, what else are you hearing about what it means for paypal, which at one point was down as much as 6% on the news >> it's interesting if you look at paypal really just finished the spinout from ebay. so it's really just completed and moved away from this partnership where it was sort of a sole payment provider for ebay and people are sort

and it said business slowing because of apple's privacy changes meaning facebook, google, amazon, shopify60,000 today. that would be interesting, probably had technicals in the algorithm itself but interesting new world coin, whether it is one of the most famous and successful accelerator and incubator in the world. the cofounder, 130,000 get their eyeballs scanned for free, crypto, 60,000 of these have come in the last four weeks. the reason is they want to make sure you are not double dipping and getting more crypto than you have been allocated. stuart: what do they get out of scanning my eyes? >> free crypto currency. they get your iris scan which they will use to develop the iris or technology scanning devices. i would have privacy concerns about biometric, very unique to you, it is worth $100 billion, it is worth $1 trillion. there are some ways to go. stuart: shares of digital world acquisition surging again, they will launch donald trump's social media platform. that's what that is about surging 68%. it was a 350% yesterday. look who is here. if i sign up for this new site, what do

technology shares, amd, amazon, shopify, and snowflake.ds go up. tech selling off. not the case today. i would say volatility is pretty much a trademark of october. stuart: definitely. susan: we know october is stronger than september which is the weakest month of the year but october is also the month where you have 1987 black monday, 1929 the stock market crash. there are some jitters out there. stuart: that's a bounce. almost 35,000 on the dow industrials. i will call that a very solid bounce at this point. iac -- susan: iac, digital arm owned by barry diller and his dot-dash. he is buying "people" magazine owner meredith, in a $2.7 billion deal. meredith is selling off the tv division to gray television for 2.8 billion. takeaway, unfortunately print is dead, right? especially if you're a magazine publisher. it's a tough business with a digital environment. that is being experienced by a lot of other industries. stuart: liz peek sat on the set yesterday, pulled out a newspaper. haven't seen one in a long, long time. i don't think my gra

digital advertising business >> joe, interesting opportunity for some companies like adobe, like shopifyat are trying to arm direct to consumer companies and others to have a more one-on-one relationship with the customer to do that also perhaps a return to, i don't know, target things to people based on their search activity or based on the content they're looking at, not based on following them around without them knowing to figure out who they are. >> can you take requests can you do these things that twitter puts on my feed that i didn't ask for, or are a good or bad thing? can you do that? let me ask you would you like to know out of a set of 19 twins where one of these twins became famous but the other didn't would you like to know any of those, or about those people should i scroll through that does that -- why is that here? >> i don't know. i do take requests from you, joe. so, yes. we will -- >> becky, did you see that one today? >> i saw it a while ago. >> and you scrolled through? >> i -- what can i say clickbait. >> oh, my god! i got mad and i say i'm not interested and they