shopify enabled that. i don't think shopify became the largest part of the index. we have that covered. it is a 3% to 4% position in arkk. we think it will be a spectacular stock going forward. even the facebook might say we are dialing down our social commerce to move into the metaverse, it is going to be social commerce. it has to be almost. we think shopify will be a big part of that. i would agree with tom. the commodity and industrial base canada has historically had, innovation strategies are great diversifier and pair trade. >> shopify. we know the story relatively well. you talked about some areas of growth over the next decade. for people trying to get a sense on the areas you are most passionate about -- some of it is already on the internet. what would you say to people thinking about investing in the next big thing? cathie: one of the biggest innovations of our generation will be autonomous platforms. right now, cruise automation in the u.s. might have a few million in commercial sales by the end of this year. we think that is going to $9 trillion to $1

we're seeing that across shopify.ost of the brands that searchers love are on shopify. >> how are the brands making sure they're connecting with their consumers? is this about the investment that brands have been making year round to build up that direct to consumer relationship or investing a lot in social media? what's working right now to drive those purchases? >> i mean, i heard your commentary earlier, you were dead right right now, like the future of retail and the current state of retail is retail everywhere. i heard you said omni channel or multichannel talked about a lot right now, i often said in the next year you're going to talk about color tv so what we saw in the last couple of months in preparation for the season is that brands are opening up online brands opening physical stores, online brands or physical brands selling across social media platforms. but the idea is not to think about the channels of businesses but look at them, sell anywhere your consumer is spending time part of the reason you hear u

if you are a company, you have to have shopify.e dots here are the total order volumes of what is happening now this second. there are $1.6 million of sales per minute, about 47 million unique shoppers and over 14,000 orders per minute and this nice ticker that shows where in each industry you are seeing volume. overall, we have seen billions of dollars in overall sales since black friday. how are they buying? what does it say about the consumer or does it mean consumers are smart and waiting for deals? guy: where are you on the map? you are a big blue dot. alix: that is basically me. guy: it was a productive weekend for alix steel. we have had vacuum cleaners rather than shoes. that is a step in the right direction in my mind. i think it says a lot about where we are in the economic cycle. the shopify president joining us now. nice to see you. it was better than expected. harley: if you think about the height of the pandemic, shopify saw $5.1 billion in total. we crossed that mark, so that was surprising but not just that the aver

that was the shopify president earlier today. are taking a closer look at shopify and other retailers post-black friday. give us the big picture. was it good? ed: yeah, well, the market things to assume -- seems to think it has been ok so far. shopify gave some prelim numbers for black friday. the street seems bullish on those pre-lim numbers. there is evidence consumers are taking advantage of those deals. some of the stocks we are watching are the names in the e-commerce space. amazon had a good start but fell away. shopify, an outperformer. a lot of names jumping on early data coming out. wayfair another one. peloton, interesting. according to adobe analytics, it really was at-home fitness equipment that did well, at one point up 8.8%, but pared those gains. adobe analytics data is where i want to go. this is a third-party measure of how things are going this holiday shopping season. for me, the psychology about wine. which day getting a laptop or your smartphone and buy something? and according to data from adobe analytics, i

shopify?nt. >> i have shopping on the brain. >> you can listen to music while you shop. >> it's -- that's like a partnership made in heaven. thanks for having me. >> i'm a little foggy this morning. >> it's okay. >> happy belated thanksgiving so glad you could join us. what are the trends showing? what are we seeing? >> this black friday, cyber monday, it seems less frantic, less supply chain issues, more stores open and better capacity planning. so we're seeing more stability than before. if you go back to last year, shop fie saw during the four days, 47 million shoppers shop across our stores, they sold about $6.3 billion of sale. and we saw peak of $3.1 million happen per minute on black friday. that was the peak. so far today, it's still very early, black friday has really just begun. but yesterday peak sales were about 1.52 million per minute at 6:04 p.m. last year. up from 1.49 at the peak last year for thanksgiving. we're seeing the average cart price is up, seeing the average cart pric

shopify gave some prelim numbers for black friday.t seems bullish on those pre-lim numbers. there is evidence consumers are taking advantage of those deals. some of the stocks we are watching are the names and that e-commerce space. amazon had a good start but fell away. shopify, an outperformer. a lot of names jumping on early data coming out. wayfair another one. peloton, interesting. it really was at home fitness equipment that does well, at one point up it .8% but pared those gains. adobe analytics data is where i want to go. this is a third-party measure of how things are going this holiday shopping season. for me, the psychology about when, which day do you get out your laptop or go on your smartphone and buy something? according from this data it is very much cyber monday. that is one across the holiday shopping period, it's an individual day they expect $11.2 billion to be spent. thanksgiving day comparison, black friday, it seems like consumers need a few days to get over there turkey and get out online to buy some deals. thi

that's why there's shopify. with shopify, you can set up your online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. my name is ashley cortez and i'm the founder of the stay beautiful foundation when i started in 2016 i would go to the post office and literally fill out each person's name on a label and now with shipstation we are shipping 500 beauty boxes a month it takes less than 5 minutes for me to get all of my labels and get beauty in the hands of women who are battling cancer so much quicker shipstation the #1 choice of online sellers go to shipstation.com/tv and get 2 months free >>> it is 5:00 a.m. at cnbc global headquarters. here is your top "five@5." stocks looking to stage a turn around tuesday after kicking the trading week off in the red. >>> calm returning to china overnight after weekend protests that called f

. >> shopify >> up premarket.ut as for apple, wedbush says maybe you take 5% off units for the quarter, maybe 10% >> again, the most well-documented miss in history -- you're watching a rebellion in apple city. so, if -- how's apple -- i mean, tim cook's furiousry tly tryingo get a second source, but in the meantime, what we do is we have a situation that is widely documented, and we'll speak to eunice, that that's the epicenter of what's wrong, so nike will go down. i hate to say that china's not important. that would be ridiculous 1.4 billion people is very important. but i would say if our market's going to go down on social unrest every single day, then we will give up 10% that is just not a good idea go down on earnings, okay? go down on the fact that enterprise software is awful that's the weakness -- that's the achilles heel of this economy. >> and we'll get a bunch of earnings this week really quick, just in terms of the price action in china, i mean, it's been kind of a rough night for hang sen but the mo

. >> caller: -- thoughts on shopify. >> shopify will make it through this period. shopify will make it through this period and 35 with the market cap of 38 billion, i'm actually willing to take a position and bet it comes back to 33 and buy more while we're at it, let's go in this special prethanksgiving day show to willy in north carolina, willy? >> caller: hi, jim, how are you, sir? >> doing well. how about you? >> caller: i'm amazing i want to let you know santa claus is going to bring me a gift this year and the gift is going to be i'm going to become a member of the club. >> yes >> caller: that's the only thing i asked for christmas this year. i have one confession. >> absolutely. >> caller: the question is i'm looking at way fair -- >> no, no, willie, no. we don't want to look at way fair it's too hard. we want bluer chips. we want better deals we want more of a stock honestly by williams-sonoma and this is for willie and everybody else, black friday, exclusive offer. join jim cramer, that's me and the cnbc investing club for discounted holiday price and then

that's why there's shopify.ine store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. >>> good morning the midterms and your money. futures moving a little lower this morning as investor await key results. congressional power hanging in the balance. >>> meta laying off more than 11,000 employees that stock is on the move this morning. we have the details straight ahead. and the crypto world is in shock after binance bailed out ftx from a liquidity crisis. ftx founder losing nearly $15 billion of wealth in a day the second hour of "squawk box" begins right now ♪ >>> good morning and welcome back to "squawk box" right here on cnbc. i'm andrew ross sorkin along with becky quick and joe kernen. take a look at u.s. equities at this hour. the day after election day we're still getting those results. but right now the dow looks like it woul

that's why there's shopify. with shopify, you can set up your online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. >>> welcome back to the show big news in the world of media bob iger returned as ceo of disney with bob chapek stepping down after 33 months in charge disney says iger will serve for two years and has been tasked with renewing growth at the entertainment giant. iger acknowledged describing amazement at his appointment chapek has come under fire since c b becoming ceo and the rift with him and iger weighed on the mo morale on the company. we are taking a quick look at pre-market trade it it looks like disney will open up .9% that is something we will watch closely when the u.s. opens. let's bring in the senior analyst from lansdown. it feels like the big news with the sudden departure of chapek and iger returning

shopify is bucking the trend, the company saying its merchants saw record sales on black friday this morning jim cramer called it the afternoon-amazon. he likes shopify as people start to realize independent mvps are having a great holiday season. >>> wells fargo upgrades activision there was a report on friday that the ftc mail time a lawsuit against the deal with microsoft. >>> macau casinos are mostly hire after linen withs licensese renewed. >>> tyler has our update. >>> election official recougss promise dent republicans in the state raising doubt downs about ballot drops all voters put their ballots in those boxes. for the first time since 1984, the world's largest active volcano has erupted. officials say mauna loa's volcano does not threaten communities. >>> jill biden chose the theme "we the people" to remind we are stronger in community than we are apart. brian, back to you. >>> still ahead, congress, it is back to work, and democratic lawmakers are rushing to pass bills before the balance of power shifts in january. 'll look at the issues on the agd agenda, what it means f

that's why there's shopify.ith shopify, you can set up your online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. >>> welcome back to "street signs. the u.s. has unveiled a carbon trading program for private investment in clean energy projects in developing countries. john kerry told delegates at cop27 says this will involve the buying and selling of credits with money going toward paying developing nations to shutdown fossil fuel and invest in renewable sources. u.s. president joe biden will attend the cop27 summit on friday he will arrive with scrutiny over the inflation reduction act which several countries are criticizing the technology at the expense of global competition. hadley and dan join us from sharm el-sheik they have been there all week long over to you, hadley and dan. >> thank you, arabile. it has been a fascin

that's why there's shopify. with shopify, you can set up your online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless. pick an order, print everything you need, slap the label onto the box, and it's ready to go. our costs for shipping were cut in half. just like that. shipstation. the #1 choice of online sellers. go to shipstation.com/tv and get 2 months free. >>> now climate delegates at the cop27 summit in sharmshek. it is looking for a loss and damage deal which was added to the agenda at the 11th hour after talks ran well into the early hourss of the

that's why there's shopify. with shopify, you can set up your online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. now, walmart sales rose by almost 9% on the year in the third quarter, beating wall street expectations. the u.s. retailer says it received strong demand for online groceries as well a adde is changing. that's in response to wider pricing pressures. >>> more u.s. retailers are reporting across the pond today with target, lohse, as well as tjx, all set to release their third quarter numbers. >>> turning to politics, former president donald trump will run for the presidency again in 2024, promising again to make merge great and glorious again launching his campaign from his mar-a-lago resort, he said he'll fight inflation and secure borders if he's elected president. his party failed to make large gains in the mid

. >> michael, i've long argued that shopify is a competitor to amazon from a philosophical perspectiveg to put more agency in the hands of small and medium business, give them a menu of options versus, you know, them needing to drive into the arms of amazon as third party sellers, but what happens in this environment? aren't the third party sellers more inclined to go with an amazon in are part of the revenue drivers, customer acquisition drivers and shopify also spending on a logistics buildout that amazon's already done >> yes this is the challenging issue facing the space, right? the term they're the army of the rebels they're helping merchants have a place outside of that. the privacy and it's more challenging to find their end user we've seen it in some of the numbers. for amazon that has the greatest traffic, has the user at the bottom of the funnel looking to make a purchase, it makes it more attractive former chance to sell on that platform. again, they have to buy advertising when they're on the a.m. ma zoern platform. >> a.m. ma stop has the flywheel effect, michael. walmart

that's why there's shopify.fy, you can set up your online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. >>> one more thing before we go is mark zuckerberg changing his tone on the met averse quote, we talk a lot about very long-term opportunities like the metaverse but the reality is that business messaging is probably going to be the next major pillar of our business the comments come amid a wave of layoffs at the company and the big bet on the metaverse, down more than 60% in a year. i'm guessing you're not going to disagree with this there's probably more money in messaging and the potential of a super app than a metaverse >> i don't know how much money is in the metaverse, but to me if the metaverse is a long-term bet then as an investor you've got to question the spending wisdom of $10 billion and building it out now. t

that's why there's shopify.ith shopify, you can set up your online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. >>> communities across texas remembering the 19 children and two teachers gunned down inside robb elementary school in uvalde back in may. here's one exam. austin earlier today for the day of the dead. the holiday originated in southern mexico. it gives families time to celebrate and honor loved ones who have died. according to legend, souls of the dead come down from heaven and reunite with their family. today, over the weekend, students at a high school in san antonio posted this tribute on tiktok there they recreated a classroom and they personalized desks for each of the children and teachers who died. >>> leaders across entertainment injury are calling to protect black art. dozens of artists and companies sig

you know, guru, pretty much everyone from amazon to shopify to walmart, thought would go up than did a more muted growth. as they accommodate that, amazon in particular scales back that plan weighing on gross margins how do you see that playing out over the next year or so how does an amazon, a shopify take that medicine to revert costs or will it play out over the next few quarters? >> unravel that in two areas one look at the top-line growth and look at bottom-line pressures happening. from a top line perspective, a tale ofdemographics. starting to see a lot more of that spending go into, say, experiences, and things like that probably we think because of the welcome home culture setting in and earlier used to go to office, go to work, used to say, log jon to website do your purchases, come back home. right now you're sitting at home every hour, every single day taking that opportunity to go out, hang out with friends say take that slip out to buy groceries or buy that holiday gift that you want, and have that experience outside and take pressure there on the other hand, middle ame

that's why there's shopify. with shopify, you can set up your online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. ™ >>> let's get a gut check on tesla. stock on pace for the worst month ever dropping more than 25% in november. elon musk's twitter takeover, renewed concerns about covid restrictions in china some of the headwinds p

kriti: s reminds me of shopify, the heavyweight on the tsx. talk about the president.was the last time we saw this? geoff: this has happened in 2020. the exchange came under a lot of fire. the ceo at the time said that they would work on making this an absolute focus, ensuring reliability. for this to happen again two years later was frustrating. another fund manager said this outage happened two years ago, but also fund managers had an issue with their internet provider, which also made it difficult to trade, not six months ago. the system wide rogers outage. it is a very festering situation for people trying to trade here who are being interrupted by these outages. if it is just the stock exchange, that is two years ago, and now today, frustrating. a mobile internet outage six months ago. jon: before we let you go, just some context. we have seen massive consolidation within the exchange industry over the last decade plus. the tsx is the dominant player but not the only player here. geoff: it is the dominant player and fund managers were clear, if they wanted to, the

>> caller: wanted to get your take on a couple e commerce stocks, specifically one shopify specifically how it compares to the giant competitor amazon. >> okay. i think shopify like etsy are two survivors of this period what they're valued at is hard this is valued at $34 billion but it is -- it is the power behind so many small businesses that i think it is worth something and if anything, it's worth more than what it is selling for. all right. if the market keeps running tomorrow in anticipation of a republican sweep you need to be aware that we've already had a big move based exactly on that happening. on "mad" tonight shoppers looking for a bargain heading to the outlets. could it present a market for home gamers? how much worse could it get for big tech names we got an exciting turn today. let's check out the charge and see and fell today after an % investor day so a buying opportunity is consistent for many years i'm getting the latest so stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question, tweet cramer #madtweets send j

that's why there's shopify.y, you can set up your online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. these days, our households depend on the internet more and more. families grow, houses get smarter, and our demands on the internet increase. that's why we just boosted speeds for over 20 million xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app today. go. go green. go wind turbines. go gorgeous reliable grid. go emerson software. go science people. go breakthrough meds and safe science. go space age welds for super silent cars. go big. or go home. from software that delivers new cures at warp speed, to technology that makes

that's why there's shopify. with shopify, you can set up your online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. dude, what're you doing? i'm protecting my car. that's too much work. weathertech is so much easier... laser-measured floorliners up here, seat protector and cargoliner back there... nice! out here, side window deflectors... and mud flaps... and the bumpstep, to keep the bumper dent-free. cool! it's the best protection for your vehicle, new or pre-owned. great. but where do i---? order. weathertech.com. sfx: bubblewrap bubble popped sound. welcome back to the exchange everybody as they say two ou of three aim bad you have 2 to 3 in the green right. now the dow is the latter of of the eight 100th of a point. that is basically flat, folks. at one point was down about 93 that was a lot of the day. now it's not abou

that's why there's shopify.ify, you can set up your online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. >>> welcome back chegg is sue ma cum laude after beating on the top and bottom lines for the third quarter, this comes after an ftc consent agreement earlier this week over the ed tech company's security practices. joining us now chegg ceo dan rose rosensweig welcome, good morning. in a way this mirrors six months ago when the stock went on a bender, was down about a third after earnings, but this in the opposite direction, what are the core trends when it comes to your price increases, and also when it comes to students being excited about being back at school that's fueling this >> yeah, hey, jon. thanks for having me so what we saws after return to normalcy in terms of the incoming freshman class and a return of the pr

shopify, the canadian e-commerce platform with some encouraging numbers tied to black friday. shares are up right now, but certainly not as what is happening with to pool a -- ta boula. kriti: a fascinating take. it still seems that at the core, really wherever you look when it comes to the heavyweights. >> china has been a huge incremental growth engine. if they are not reopening, that is going to change the global economic output. in the total ecosystem. it is impacted. earnings are going to come down. the fact is, we are doing this on an earnings ratio basis, and they are only 4% off all-time highs. we see that coming down more into 2023. kriti: a little more insight from cameron. he talks to us about how he factors in these protests. is this something you trade off of? >> it is difficult. obviously, there is a near-term reaction, which is to sell things which are leveraged to china. but as we have seen with crude oil prices, that could be a pretty ephemeral trend. what we can say is that it certainly increases uncertainty around reopening, the timing, how that is modulated

that's why there's shopify. online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. welcome to another hour of "squawk on the street. i'm carl quintanilla with morgan brennan, david faber at the new york stock exchange. it's been a busy morning with $30 billion in m&a, rumors of a china reopening and plenty of data let's get to rick santelli >> we also have job openings, labor turnover known as jolts, that is september read we're expecting the number to be under 10 million we are wrong this is a nice beat. it's a million better than expected, 10,717,000 follows at yet unrevised 10,053,000 an improvement there once again, this is the second reading, though, under 11 million. slight revision coming in, 10,280,000 the revision is about 230,000 higher now, construction spending is up 0.2. that breaks a streak of down two negative m

with shopify, you have everything you need to setup your online store, to connect with customers, ando bring your dream business to life. because when we work together, the future is bright. these days, your customers are not just down the hall. they're all over the world. so cute. it doesn't have to be lonely at the top. join the millions to finding success on their own terms. start your journey with a free trial today. kriti: this is "bloomberg markets." i'm kriti gupta alongside jon erlichman. royal bank of canada agreed to by the canadian unit to operate the west coast. the deal is $10 billion in cash, $13.5 billion in canadian dollars. joining us is kevin orland. why this acquisition? kevin: royal bank of canada is already the biggest bank in canada and it is buying the seventh largest banking candida. but what royal bank gets is not just 130 branches or $134 billion in assets. as the ceo said, it is a once in a generation opportunity to leap forward in market share growth in canada. this is the kind of thing that does not happen often in canada's banking market. it is controlled

that's why there's shopify. with shopify, you can set up your online store; you can sell on social media; or, you can sell in person, with our point of sale system. it doesn't have to be lonely at the top. join the millions to find success - on their own terms. start your journey with a free trial today. >>> a federal judge denying elizabeth holmes' bid for a new trial. the theranos founder was co convicted in january she faces up to 20 years in prison and fines on each guilty count. lawyers have said she almost certainly will not receive the max penalty. >>> coming up, layoffs ramping up in tech tech world raising the question should you go back to the office to protect your job? we'll talk about that next >>> you can get the best of "squawk box" with the daily podcast. follow squawk pod on your favorite podcast app we're coming right back. ♪ i was having challenges with my old bank. lots of red flags. yellow ones, too. fees, penalties... referee: unnecessary fees! ...playing dirty. so i broke up with bad banki

with shopify, you can have everything you need to streamline your shipping, returns, and product storagen focus on growing your business. because when we work together, the future is bright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today. these days, our households depend on the internet more and more. families grow, houses get smarter, and our demands on the internet increase. that's why we just boosted speeds for over 20 million xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app today. folks, it looks like we're gonna have to land this big old bird earlier than expected because it's the xfinity black friday sale. get the fastest mobile service with xfinity mobile. yeah, we'll be cruising in to get the best price for 2 lines of unlimited for just $30 each per month. oh my! plus, for a limited tim

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with shopify, you can have everything you need to streamline your shipping, returns, and product storages on growing your business. because when we work together, the future is bright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today. xfinity rewards is a program whose sole purpose is to say "thank you" with experiences big, small and once-in-a-lifetime. sometimes it's about cheering hard enough to shake the stadium! sometimes, it's as simple as movie night right here at home, on us. you mean the world to us. so we're bringing you closer to what you love. kinda like this. welcome to 30 rock! join xfinity rewards for free on the xfinity app today. our thanks, your rewards. >>> welcome back to "options action." time to take a look back on a gold trade remember last week carter and mike laid out a way to play the miners >> i was taking a look at the fact options were elevated in premium, also thinking that maybe the rate picture, the dollar picture, will take at least until the end of the year to pla

that's why there's shopify.your online store; you can sell on social media; or, you can sell in person, with our point of sale system. start your journey with a free trial today. [jordan] with my confidence in america's ability to accept loss shaken, i decided to head to my home state of michigan, home to lions, tigers, and election deniers, oh my. not to mention a governor seeking reelection after avoiding a kidnapping plot. [shepard] the plan? according to prosecutors, abduct the governor from her vacation home. [jordan] but now governor whitmer faces yet another challenge-- this one from republican candidate and election denier tudor dixon. so i headed to warren and introduced myself with the traditional michigan greeting. -about right here. -crawford's right there. -on the thumb. -[jordan] you're on the thumb? on the water. okay, i'm from kalamazoo, originally. yeah, i'm in the thumb. in the center of everything. right there. well, lansing's in the center of everything. not if you take the up into considerat

with shopify, you can have everything you need to streamline your shipping, returns, and product storagean focus on growing your business. because when we work together, the future is bright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today. emily: galax5 employees but the number could soon change. sonali basak is here to explain. what is happening? >> enormous gout. galaxy may be laying off 15 to 20% of the workforce. that can amount to 75 people. i want to point out, pretty recently, galaxy have been hiring. this is definitely a new plan we are seeing, the stock is off more than 70%. remember earlier this year, they have the plan to buy a company that fell off. that would have added more staff. reversal in trajectory. 75 physicians could go. galaxy reports next week, so hearing what mike no regrets has to say will be interesting. galaxy is one of the earliest investment banks in the space. they have become a large operation with venture capital investing, a huge research arm. where exactly they

with shopify, you can have everything you need to streamline your shipping, returns, and product storagehen we work together, the future is bright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today. [cheers and applause] >> trevor: well, that's our show for tonight, but before we go: please consider donating to city harvest. this is a new york city organization and they are actually new york city's first and largest food rescue organization. that has delivered more than one billion pounds of nutritious food and delivered it to hundreds of food pantries and soup kitchens across new york city. if you can help them in their work fighting food insecurity, please donate at the link below. until next time, stay safe out there and remember: the safest investments are where you use other people's money. now, here it is. your "moment of zen." ♪ ♪ >> live television, gang. that is live tv for you. >> excuse me, my kids are here, live tv. >> we will do it live! >> on the scene at the garden and has more. [qui

with shopify, you can have everything you need to streamline your shipping, returns, and product storageso you can focus on growing your business. because when we work together, the future is bright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today. dani: the rumor mill is up and running again. more tweets talking about the possibility of covid zero ending in china, or at least examining it. risk assets moving higher, a monster rally in hong kong tech, headed for the best week for the hsi in 11 years. hong kong tech since its inception. manus: and when there was a big deal done in europe in terms of greek government bonds, so that is the equity story rating ahead. could it be that we are set for a china-europe job? china taking an m or a job. maybe that is the rumor. that is what came at alphabet. iron ore is up 6%, aussie dollar, what a bangor, up nearly 1%. it is a six-month slide. we are all in on china reopening optimism. the dollar is dropping and that is the risk narrative. anton bouvier is

with shopify, you can have everything you need to streamline your shipping, returns, and product storage can focus on growing your business. because when we work together, the future is bright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today. lisa: you are looking live at the principal room. coming up an exclusive interview with kathy wood at 1:00 p.m. in new york. this is bloomberg. keeping you up-to-date with news around the world, this is the first word. rishi sunak has reversed his earlier position and will attend the united nations climate talks in egypt next week. >> there is no long-term prosperity without action on climate change and no energy security without investment in renewables and that is why will attend cop27 to deliver mr. speaker, on glasgow's legacy on building a secure, clean, and sustainable future. lisa: last week he said he would focus on "the depressing domestic challenges we have with the economy." russia agreed to continue the black sea grain export deal. it has receive

with shopify, you can have everything you need to streamline your shipping, returns, and product storageing your business. because when we work together, the future is bright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today. >>> look at under armour getting a big pop today. the athletic apparel company also announcing it will be lowering the outlook for the full year because of a challenging retail environment joining me is kifevin plank and colin brown. great to see both of you >> great to see you. >> the quarter was a beat, outlook lower on sales and earnings what are you seeing right now from the consumer? >> well, it's a bit bumpy out there. certainly from our perspective, still $6 billion in demanner, so we're feeling confident. we've been managing our inventory closely. we're heading into a difficult, challenging time, but we've been pretty comfortable >> what about in the u.s. in particular, colin, so far this quarter? is the consumer holding up increasing amount of promos? can you give us

that's why there's shopify.stem. start your journey with a free trial today. [cheers and applause] >> trevor: that's our show for tonight. thank you so much for tuning in. thank you so much for kicking it off. before we go, before we go, wanted to remind you that midterm elections are approaching and the stakes are higher than they have been in generations. so make sure your voice counts. make a plan to vote early. voteearly.org. until next time, stay safe out there and here it is: your "moment of zen." ♪ ♪ >> i hope you have a good halloween. >> happy halloween to you. >> a very happy halloween. >> the one and only dressed up as... >> easter bunny. >> i am dressed as colombo. - ♪ i'm going down to south park ♪ ♪ gonna have myself a time ♪ both: ♪ friendly faces everywhere ♪ ♪ humble folks without temptation ♪ - ♪ i'm going down to south park ♪ ♪ gonna leave my woes behind ♪ - ♪ ample parking day or night ♪ ♪ people spouting "howdy neighbor" ♪ - ♪ headin' on up to south park ♪ ♪ gonna see if i can't unwind ♪ - ♪

shopify was the first to announce they had gotten the trajectory wrong.her side, elon musk is doing out -- doing it without much emotion. how do you think about the ways in which these messages are delivered? >> overall we are losing 100 thousand jobs from those companies. if you look at it from the perspective of the overall market, all of those people are going to find other jobs. there is tremendous demand for technology talent and everything from finance to government to health care. in startups, there's 200 $50 billion in venture capital waiting to be deployed. when you look at these companies and you think about where their cuts are going to come from, the bigger issue is they've got to find new sources for growth. in every one of these cases, they are all depended on the old sources of growth. that is why they are coming to our company. cost has a huge human toll, but it is much more difficult and growth. caroline: let's talk about the growth that hopefully some of these people are getting decent severance packages are able to set up their own star

with shopify, you can have everything you need to streamline your shipping, returns, and product storageg success on their own terms. start your journey with a free trial today.

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gross merchandise margin, it tends to make much a bigger part of -- but they also have amazon and shopify if that can offsaid, but they're trying to deconcentrate, as he put it. >> not my word at all. thank you, kate. >>> jeff mills, what do you make of affirm? >> yeah, we mentioned credit quality a couple times it looks okay now, but we all know the fed will do something in the labor market. so some deterioration of credit quality should be the base case. profitability is nowhere in sight. we keep talking about that as being a problem in this market i would certainly rather own, you know, say a sofi at two times sales with a much clearer path to profitability, at least happening much sooner. >>> coming up, pot at the polls. >>> coming up, pot at the polls. several states voting on love and confidence... you can't buy those. but you can invest in them. we believe that your investments legalization t. rowe price. invest with confidence. another busy day? of marijuana. of course - you're a cio in 2022.. but you're ready. that so you're covered. on-premise and in the cloud. you can run thing

shopify and amazon reflect the slowdown in ecommerce activity in part because people are returning todiversify spending so the growth we saw during the pandemic which was the silver lining for much of the economy and stock market, that growth was not sustainable. i think the technology sector invested and planned for that kind of growth and we are seeing that slowdown. >> absolutely a slowdown i cover the tech sector. when you see the earnings report, a lot of companies are not profitable how much of a factor is that in all of this? >> i think it is a factor. i think it is surprising the number of -- and these are not the big companies. enterprise technology which is a couple of layers below amazon and microsoft. octa and twilio. these became household names these companies have been around for decades in cases and have yet to show profits. they are public companies and investors are saying it is time to show growth >> you are coining a lot of phrases. you side it said it was a vibe economy. what characteristics do they share? >> i think there were the companies that went public and m

with shopify, youn have everything you need to setup your online store, to connect with customers, andur dream business to life. because when we work together, the future is bright. these days, your customers are not just down the hall. they're all over the world. so cute. it doesn't have to be lonely at the top. join the millions to finding success on their own terms. start your journey with a free trial today. ♪ manus: ireland reports unemployment data today. closely watched will be the tech sector as some of the global giants begin the layoff of workers after the hiring boom of the pandemic. let's get to our reporter. ireland's boom from tech is well known. do we have the details in terms of the layoffs, how big they might be, and whether, you know, twitter's ability to ensure compliance with eu regulations? tie it together for us. >> the answer is no, we do not really know the extent of the layoffs yet, except that there have been some. there are expected to be more. big headline figures such as the 13% globally at meta, which is about 350 jobs in ireland. in twitter, the governmen

with shopify, you can have everything you need to streamline your shipping, returns, and product storagebright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today. why do nearly one million businesses choose stamps.com to mail and ship? stamps.com is convenient you get the services of the post office right on your computer stamps.com saves you money with great rates from usps and ups mail letters ship packages anytime anywhere for less a lot less get our special tv offer a 4-week trial plus postage and a digital scale go to stamps.com/try and get started today [cheers and applause] >> trevor: well, that's our show for tonight, thank you so much for tuning in but before we go, i want to tell you real quick about our newest "the daily show" pasta podcast, "jordan klepper figure the conspiracy." in this limited series, jordan will step off the trump trail and dig into some of the wildest conspiracy theories he has heard and trace their origins with journalists, experts, and anyone who might know when j

like in microsoft, netflix and meta they also got into pandemic stay-at-home favs, like zoom and s shopifyled their stock in peloton the company sold over 3.5 million in expedia shares. >> these we know, and september 30th -- >> yes, as of september 30th, and it's critical to note when we see this. amy, this idea of that period of time, let's just call it the end of september, but even today, establishing new positions in some of the chip stocks that have gotten beaten up pretty hard over the courseof the year is this a good strategy in the here and now or not? >> i think you have to be very careful. i think there are good long chip stocks that have gotten hurt this year, if you have a variedd make money we own asml, and cadence systems. i think both have real technology advantages that will increase their value over periods of time. i think generally speaking, i still think there's too much semi inventory there was double ordering, when the shortages happened so i don't think -- i wouldn't say -- i wouldn't give an all-clear sign for the entire sector but there are, you know -- this is a

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with shopify, you can have everything you need to streamline your shipping, returns, and product storage you can focus on growing your business. because when we work together, the future is bright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today. >>> welcome back another check on the markets today. all three major indexes closing out in the green the s&p closing above the 4,000 mark for the first time in more than two months. take a look at some of the stocks sitting at an all time high today china covid policy still weighing on china tech stocks. nearly down 2% day one of the ftx bank hearing on record. eamon javers is there. eamon, what did you learn today? >> reporter: this was the day for the lawyers of john ray to explain what they know so far as they have been sifting through the wreckage over the last couple of days we're learning there are cyber attacks against this company and trying to defend against those by hiring a cyber security firm they can't even name because that firm could be a

we'll have instant cyber monday sales figures tomorrow comparisons will be good etsy or shopify, a cramer fav, lululemon, starting after the close tuesday. we hear from creative companies in the area i'm most concerned about in the entire stock market i think it's the weakest and remain the weakest workday has been taking share of human resources and financial planning it could be tough for them to top the last quarter and crowd strike when it comes to cyber security, palo alto pivoted from pure growth can crowd strike make the same pivot? be interesting to see. next, we only have one major fed event this week. jay powell speaks on wednesday i think he'll obfuscate. i don't mean that in a mean way. there's an unemployment number on friday, and it might be difficult for him to talk about what he wants to do. that would be good for the market if he did frankly, after today's pacing, i think people might be gun shy, too nervous to buy tomorrow ahead of powell's talk wednesday. wednesday we hear from hormel, which is so much more than spam, even if spam is iconic, the food stocks have stopped