. >>> taking apple head on, why shopify is trying to fill the advertising void left behind by apple's privacy push and what that means for the stock when "techcheck" is back in a minute. e is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. >>> welcome back to "techcheck" i'm contessa brewer with a look at your other business headlines today. mortgage rates shot up at the end of the year pushing down mortgage demand by more than 10%. mortgage applications ended 2022 at the lowest level since 1996 higher rates clearly is constraining demand. the average rate on a 30 year fixed home loan today is almost 6 1/2 percent. southwest said it's making solid progress on refunds stemming from the system-wide disruptions

the consensus has been that shopify has been underpriced relative to other price platforms.12 years since they meaningfully changed prices also a way to potentially offset some of the slowdown in e-commerce it is expected and it has been talked about shopify was one of the big growth names during covid. they said they underestimated the e-commerce pull-forward effect that's one reason they did layoffs. this will hopefully offset that, but a good thing in the analyst community. >> thank you nike, looks like shopify is not the only one a number of these work from home, covid, winter stocks have seen a surge >> there's a handful of them, and you could say it's a surge, but in the broader context, you saw a huge boom, dramatic bust, and a long multi-month process where they went sideways, they built a base and now are picking up you can't go out there and just scoop up every one of the favorite stocks in the first quarter of 2021 and say this will be a big comeback story, but there are those like these which seem like they're actually net winners and seem like they're finding ne

. >> i would argue that shopify and snap long before they were developing that line about -- >> they coined it. >> yeah, planning for a different economic reality than materialized, spending at a certain rate, you know, spotify even just this week saying much the same thing and then, boom, the brakes got hit on the top line. but that bottom line has a way of sticking around. >> yeah. unfortunately for the employees, that has become a popular phrase and maybe providing cover for ceos to follow later this hour, paypal shopify and others, we will talk about regulation in the space, competition from big banks plus, the ability of private companies to rai meyn is ugh macro environment. don't go away. om the camera. and i wanted to hide from the world. for years, i thought my t.e.d was beyond help... ...but then i asked my doctor about tepezza. (vo) tepezza is the only medicine that treats t.e.d. at the source not just the symptoms. in a clinical study, more than 8 out of 10 patients taking tepezza had less eye bulging. tepezza is an infusion. patients taking tepezza may have infusion reac

something stuck with me when shopify admitted this last summer, they acknowledged the permanent stepupmmerce was an illusion and says this remains a secular growth back then, to back down to where it would have been if the pandemic never occurred. fast forward to today with the benefit of holiday shopping assistance, according to data from adobe, an online sales werp to a new record of 212 billion e commerce was 21.6% of retail sales up from 2021 and 2020. if you believe these numbers, the category hasn't lost much ground look at this this is reversion. it went up there and right back as if that didn't even happen. but it still clear that the trend line is positive it just wasn't that positive and they spent too much money right there. okay this probably shouldn't come as a surprise as the rise of e commerce is non-stop story for a decade we just saw a stunning level of growth in 2020 when you couldn't shop in person if you wanted to and too many companies assumed the level of growth would go once covid went array. this is what i'm upset about with amazon. they spent all this money her

shopify, did you hear its plea today? an end to unproductive meetings saying employees, just say no. they are currently saying we are calendar purging right now. we are moving all recurring meetings if we can't remember why or if they started and also they are re-upping the rule, not a single meeting to be had. >> that is a commonplace thing. i thought how they are don't -- i thought how are they going to make this happen? in the story they say there will be a box to enforce this. every time someone organizes a meeting, you can just ask if you need to have this meeting. it is completely bizarre but also the opposite effect of the pandemic. we all worked from home and then we became accustomed to doing constant zooms. >> it is a money suck. money is lost because people are spending their times in meetings. it is what you are not doing in that meeting. you are not being productive. maybe you're getting a bit more stress. >> i can hear the producers in my ear saying something about it, you are already late enough to our meet

with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. 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. hi. i'm wolfgang puck when i started my online store wolfgang puck home i knew there would be a lot of orders to fill and i wanted them to ship out fast that's why i chose shipstation shipstation helps manage orders reduce shipping costs and print out shipping labels it's my secret ingredient shipstation the number 1 choice of online sellers and wolfgang puck go to shipstation.com/tv and get 2 months free >>> welcome back the risk of recession in europe has been at the top of the agenda in davos this week. we have asked policymakers and business leaders from across the continent about the outlook. >> whether we have recession is too close to call. it could be a recession. it could not be a recession. i think the relevant factor is we are looking into the

with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. 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. >>> it is 5:00 a.m. at cnbc global headquarters. here is your top "five@5." investors brace for the latest read on inflation due out this week futures are higher. >>> 15th time the charm. kevin mccarthy sworn in as next speaker of the house why concessions made could undermine his power. >>> in brazil, thousands storming the country's congress building over the weekend demde demanding moving of da

with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. 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. business can happen anytime, anywhere. so help yours thrive and stay connected with the comcast business complete connectivity solution. it's the largest, fastest, reliable network. advanced gig speed wifi. and cyberthreat protection. starting at just $49.99 a month. plus, you can save up to 60% a year when you add comcast business mobile. or, ask how to get up to a $750 prepaid card. complete connectivity. one solution, for wherever business takes you. comcast business. powering possibilities. >>> it is 5:00 a.m. on wall street here is the top "five@5. g goldilocks or bust what a reading too hot or cold for stocks >>> disney on defense. the biggest proxy fight in nearly a decade. >>> one day later and one airline playing catch up after yesterday's groun

with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. 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. >>> we expect inflation to come down and partly because of the factors you were mentioning and it will take a couple of years for that to happen given what has happened, of course, it is difficult to make these projections because this is not a chain of events that we have been used to dealing w with in the past you have to go back to the early 1950s to find a similar episode. as always, when you are in central banking, you do your best in terms of projections and in a good scenario, you happen to be reasonably right and in a not so good world, you have to change >> that was governor stefan ingves speaking to cnbc this morning. >>> let's look at wall street. mixed picture. similarly we saw a mixed picture yesterday with s&p and dow lower and nasdaq gaini

shopify still 48% off the $98 high it reached in february of last year.pping for boats definitely cooled off last year after booming during the pandemic. boat sales fell 18% from july of 2021 to july of last year. this according to the national marine manufactures association. marine max is the largest boat and yacht retailer is down roughly 20% from this time last year. so is perk's boating industry a sinking ship or will 2023 find smooth sating? madison alworth gynoing us live from the new york -- joining us live from the new york boat show. reporter: hey, liz, we're at the boat show and over 400 boats on the ground here and gives you a sense of the scale of the industry. it's a $170 billion industry that as you mentioned got a huge boost during the pandemic. everyone looking for things to do. 2020, 2021 record setting years. so, yes, this year we're down as you mentioned but even with that slow down, they are now even at pre-pandemic levels so sales still incredibly high just off of those record sets. there's some good news i'm hearing from industry le

with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. 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. just look around. this digital age we're living in, it's pretty unbelievable. problem is, not everyone's fully living in it. nobody should have to take a class or fill out a medical form on public wifi with a screen the size of your hand. home internet shouldn't be a luxury. everyone should have it and now a lot more people can. so let's go. the digital age is waiting. it's official, america. xfinity mobile is the fastest mobile service. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services, now with over 5 million customers and counting. save hundreds a year

with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. 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. i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you

that would be names like shopify for example. that's why you saw names like that with the highest multiples correct the most last year. ed: caroline and i spent a lot of the last few weeks of the you're talking about layoffs and hiring freezes and cost-cutting. i'm trying to summarize your points that you seem to be suggesting all the pain is gone, like it has been done, we have gone through and d wrist. is that your conclusion going into this year? mark: no i would not go that far or be that bold. multiples have been de-risk. they have fallen pretty dramatically and you have a good number of these large names trading at five years off multiples. it does not mean they can go down further but a lot of the risk has been taken out. same thing with estimates. one of the thing that has caused estimates to go down is companies taking costs out the business of the 6% rate reduction of force 13% and met up. these companies at amazon have yet to do this. google is one where they have five quarters of the world accelerating at record high

human resource another shopify may soon receive a flood of resumes because according to reports, thepurge their calendars. big meetings of 50 or more can only be once a week and only on thursday the thinking is a meeting with ten people eliminates the productivity they could be doing in the same amount of time on creative work. >> i don't feel we're having a lot of meetings. i think they've stripped down. there's not as many as there used to be. >> companies afraid they're becoming too set in their ways and their calendars are filled i don't know maybe that's what running a company is at a certain point, meetings how can you tigthe an individua to do that. >> and then there would be meetings to prepare for the meetings. >> i've had a few of those. >>> off to a limping start in the market today on the dow, and as bob pisani pointed out, when you have tesla and apple, which is something like 9% of the s&p, down the way they are today, it's very hard for the broader index to make any kind of progress and we had a lot of news this past hour. sam bankman-fried among them, pleading not gui

as come to has invested in notable names like shopify and bright health. over to you. --kailey: thank you. you obviously focused on health care and bio companies in particular paired you put out a piece back in 2020, "the 10 laws in health care." health care as a whole may be trillions and trillions of dollars in value, but is just a bunch of submarkets that are just a couple billion dollars that it is divided into. steve: health care is the largest market in our economy. but it is literally 400 large, large markets. we are really interested right now in health care service companies. we are in the early innings of the transformation of the care delivery and payment system of health care. partly because this industry has only been digitized for a little over 10 years, which is pretty amazing to think about, given that it is the largest industry in our country. think there is massive opportunity to deliver care virtually, and a better way for patients, with more quality and cost. kailey: as you find opportunities, how do you value these companies, especially in a time w

shopify last year.expect companies to come up with similar numbers, maybe not 10%, but similar trends going forward. guy: is this an example of bad management, over hired during the downturn, did not get a handle on what the outlook is going to be, and is now having to compensate for? if i'm in investor, i know i'm getting a positive reaction today, but long term, what does this tell me about the quality of the management team? >> this is very common in all technology firms. a lot of sales and marketing are put toward increasing revenue. during the pandemic, we saw a massive boost for a lot of cloud software companies, including salesforce. they had to hire blindly at that point, the same with shopify. i don't think it is isolated to salesforce. this is how any business is run, to be honest. alix: they have aggressive operating margin goals for the next five years. how does this go to get them there? >> i think they can get to it that any of the big restructurings. they spend a lot more money on sales a

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shopify is up nearly 6%. lauren: power of an upgrade.y take them to buy, shares will rally 20% to $50. brands are increasingly interested in using shopify to help boot their e-commerce business. stuart: skechers, i believe they are the sneaker people. lauren: cohen sees strong demand, preference compared to nike, adidas that that brokerage took. they say shares are going up 35% to 65. they upped them to outperform. stuart: that is strong. 48 to 65, i will take that if i could get it. ford, job cuts in germany. lauren: this is a big deal. a reported 3200 at the factory in cologne, germany. it gets complicated, union is warning god, if you go through with this, cutting thousands of jobs, we will take measures to impact your production across europe, not just germany. we'll see if ford responds to that. stuart: i think germans are causing for elon musk at the berlin factory. lauren: yeah. inflation reduction act. it brings business to the u.s. europe will not take that. stuart: it is a trade dispat. federal prosecutors seized more money fro

look at shopify, number who two in e-commerce, up -- number two in e-commerce, one of those stocks affectedange error at the market open yesterday. there might be some different pricing happening, but if you want a countertrade, you sell amazon, buy shopify this morning. stuart: that would be a good trade. fox corporation, that's our parent company. somebody's bullish on them? susan: yeah, so the merger is off that was announced last night, not optimal time according to the press release. and also you had objections from three investors. the stock is worth $40 according to them, but news corp. flipped the page on the newspapers front jumping 25% since those talks were announced back in october. it ises also there's news that news corp. could be in talks to sell its stake in move, online real estate company, $3 billion possibly. if you think about it, that's a great price tag given that rupert murdoch bought the whole dow jones and "wall street journal" for $5 billion back in the day. stuart if he gets 3 billion for a piece of it, not bad. susan, thank you very much, indeed. david, still nex

with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. 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. i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. >>> welcome back to "fast money. kb holmes shares down in the after hours well off their lows, they're saying housing market conditions remain challenging missing on both the top and bottom lines top of the hour cnbc's frank holland is listening in. what'

with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. 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. i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. you ok, man? the internet is telling me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take con

i will say... ..in the last couple of years since covid, shopify saw the number of stores increase by the ability to earn a living. individuals operating primarily in the united states, but really, now around the world that can now create a commerce, that can create a business that they couldn't otherwise have afforded to do. we're seeing people find new—found careers by being content creators on the internet. there's a whole long list of benefits that are accruing to the individual that are enabling both new content and access to information, but also enabling them to earn a livelihood that they wouldn't have otherwise been able to earn... well, we... yeah, at the same time, the aggregation of content, by the way, just to say something about this point, has always been a problem in media, and there have always been significant holders, whether it's news corp or — i know bbc is a public service, which is tremendous, the quality of that — but many of the public services have not reached the same quality of the bbc, and the winners in the market have always aggregated into monopoly powe

with shopify, you have everything you need to sell online and in person.yments, and customers in sync across all the places you sell. 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. ♪♪ i don't accept this. i can't do this anymore. impossible odds, save the world. i'm done. what do you have for me? a new way to transform our agency. strategy to execution. oh, looks my laces have come undone. a business card? yes, for ey. tech expertise? $2.5 billion invested. impressive. okay, you've convinced me, i'm back. just gonna... get this... >>> it's that time of year again when americans start hitting the gym to make good on the new year's resolutions, but amid tightening economic conditions, some are reconsidering the pricey investment. we have the founder and ceo of lifetime group holdings. it is good to have you on. i go five times a week five of seven times a week i notice the worst day to go is january 1st. or january 2nd you can't find a space in the parking lot. two

you have forever 21, shopify, canadian business.o you look to increase your own footprint, in an economy that worldwide is slowing down? >> we've always been agnostic when it comes to regions. we want to have the best companies. over 50% of our business comes from the united states, and we have a global footprint. as a global business, being european myself and my cofounder being chinese, we want to cover most companies from the get-go. that's what we've been able to do. you have companies from all over the world and all segments using deel. ed: i want to go back to the numbers and timeline. there were reports last may that you are raising funds. you closed last year over the summer. you announced a valuation of over $12 billion. that is completely at odds with what caroline and i are hearing everyday. finding a hard way to reach money, down rounds growing. was it a difficult environment for you? >> for us, we closed that round in june. the idea was not to raise money for the capital. we get to work with the team at emerson which is

with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. 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. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. >>> welcome to "street signs." i'm arabile gumede these are your headlines this hour the eurozone bond yields edge lower as overall business activity returns to growth in january. flash pmi suggesting the eu may skirt a recession. >>> germany'ses defense minister says it defends the position of not sending leopard tanks to ukraine. >> at this pivotal moment, we must

the main contributors to the rally in ark k, you have coinbase, year to date, up 64% tesla up 38% shopify about a 39% gain we'll have more on tesla later on finally, totally elsewhere, johnson & johnson, mentioned this before the break, shares worse than the dow down 3.4%. a federal appeals court tossed out their attempt to put the talc liability into bankruptcy bankruptcy would shield the rest of the company you can see investors are skittish let's send it over to tyler for a cnbc news update >>> after a weekend of protests over the fatal beatings of tyre nichols, a sixth memphis police officer have been relieved of duty he's been identified as preston hemphill nbc news asked officials whether hemphill is seen on video firing a stun gun at nichols. the memphis pd says the investigation is ongoing >>> in pakistan, the death toll from a suicide bombing attack on a mosque full of police officers has nearly doubled now 59 reported dead another 170 injured. many in critical condition >>> in maryland, some incredible video. police found a car upside down after it crashed into a house. thankful

you look at a company like amazon or facebook or shopify.hey spent with abandon and increase their workforce. now reality is hitting and capital is much more expensive. we are seeing the layoffs and slow down in spend and while i think the worst is behind us and large parts of the tech sector, apple, microsoft, that are probably fairly valued. i don't think we are going to see the kind of growth rates we saw over the last 10 years over the next 10. these are premium companies. i'm not suggesting anyone go sell their apple or microsoft. it's probably a good time to gradually accumulate it. don't expect the next five years to be like the last five. ed: caroline and i would like to get into the specific names and subsectors in a moment, but there is this idea in the coming weeks when we get forth quarter earnings, irrespective of the terminal rate, we are bracing for this earnings recession. i was looking on the bloomberg terminal and i think the consensus is for earnings to drop 2% or 2.2% this year. is an earnings recession as opposed to an e

with shopify, you have everything you need to setup your online store, to connect with customers, and to 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. >>> welcome to "street signs." my name is arabile gumede. these are your headlines lvmh with record profits for the second straight year and the return of chinese shoppers is cause for optimism. >>> h & m looking at the largest drop in almost a year as they post a worse than expected drop in quarterly operating profits and hit by rising costs and weaker consumer confidence. >>> sainsbury tops the stoxx 600, but confirms a takeover offer is not in the works. >>> and futures point to a negative open on wall street which is ahead of more key inflation data set to come out today after the u.s. economy grows at a better than expected rate in the final quarter. >> this is

today tapestry, nordstrom, gap, shopify, jon, jefferies goes to a hold, citing a slowdown in e-commerce in spending as last summer has been depleted. >> we're in a weird middle space not just when it comes to consumer spending but also when it comes to jobs, who's hiring versus not in these adp numbers that we got this morning, it's so interesting to see all of the hiring was in small businesses large businesses were actually cutting back what does that mean? does that mean the smaller businesses that couldn't get people are now able to find those people because we're at the end of the tight labor market circle? i don't know. >> that's an argument you hair a lot in san francisco finally these companies have a larger opportunity to get some of these engineers and talent from others. also this trend between services, right? goods and services we've been seeing spending holdup we talked about traveling and china. that's where the spending is happening right now. >> yeah, well, somebody had to man that clearance rack. >>> watch shares of oracle this morning. jefferies upgrading that to a bu

. >>> after the break, it's risk on way on wayfair surging after two upgrades shopify getting positiventary as well we'll look at those names in two minutes. tesla bulls going full speed with the stock seeing another pop, up 12% this year, up almost 6% today are earnings going to justify "ty iseeth wk? echcheck" is back in two [music playing] ♪ imagine something of your very own. ♪ ♪ something you can have and hold. ♪ ♪ i'd build a road in gold just to have some dreaming, ♪ ♪ dreaming is free. ♪ accenture, let there be change. with gold bond... you can age on your own terms. new retinol overnight means the smoothing benefits of retinol are now for your whole body. plus, fast-working crepe corrector diminishes wrinkled skin in just two days. gold bond. champion your skin. we planned well for retirement, but i wish we had more cash. you think those two have any idea? that they can sell their life insurance policy for cash? so they're basically sitting on a goldmine? i don't think they have a clue. that's crazy! well, not everyone knows coventry's helped thousands of people sell their pol

tesla, check out ark, the innovation etf on pace for best month ever, going back to inception in 2014 shopifymong the top gainers. >>> welcome back to "techcheck." i'm contessa brewer. here's your cnbc update. natural gas prices are down another 4% today forecast, of course, calling for mild winter weather in the coming weeks lower heating demand and high inventory levels have driven gas futures to a 21-month-low. nat gas is on track to fall 40% in january, making it the largest monthly decline since 2001. >>> the faa says it adopted a number of safeguards to stop a repeat of the computer problem that grounded more than 11,000 flights. it will require a manager to are present during maintenance of the key messaging system for pilots and airports. >>> and toyota is the world's top selling automaker for a third straight year. sales for all of 2022 were basically unchanged. 10.5 million vehicles. despite covid lockdowns in china and the war in ukraine up-ending supply chains everywhere there you go, toyota it is, carl. >> contessa, thank you. >>> the qqqs are surging january is on track to notch

with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. 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. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. >>> it is 5:00 a.m. in new york. 11 11:00 a.m. in davos. nasdaq doing something for the first time in more than a year. >>> turning point in china the first population drop in 60 years. growth also down what happened to the price of oil? >>> self proclaimed the king of meme stocks picking a fight with the head of alibaba. >>

with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. 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. >>> it is 5:00 a.m. and here is your top "five@5." tech back on top as the nasdaq does something for the first time since november. beefed up names some investors are snapping up ahead. >>> ahead, the 2023 global risk report the takeaways in just a moment. >>> a major blow to samsung as apple looks to shift iphone production in-house. >>> ftx back in bankruptcy court today. invests waiting on two key rulings. >>> later on

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amazon, shopify, stripe, all in that arena but the latest sign of belt tightening that we're seeing inicon valley and some of the fintech names. >> kate, i'm always curious which of the ones are undoing hiring in the past couple of years and which ones are we cutting back on an even normal size of the company. did they add a lot to head count recently during the stimulus boom >> so we don't have a percentage in terms of what they did on the hiring front, but it's been interesting to see some of the tech companies that doubled, for example. i don't think paypal is in that arena where they hired to that extent, but there was this pull forward effect with e-commerce in general where companies really grew at all costs and felt like they needed to hire to keep up. we don't have the numbers right in front of us, he doesn't mention it here, but in some cases it is absolutely a matter of right sizing and getting back to pre-pandemic levels i think in the case of paypal they also have an activist elliott took about a $2 billion stake so they're adding some pressure for the cost cutting and it r

friedman warning on "squawk" that another volatile year for the markets could be coming take a look at shopify, that stock up 8%, bucking today's downward trend after announcing a price hike for the first time in 12 years ago as a customer i felt that. deutsche bank, just upgraded that stock monday. time now for news update, bertha coombs has that. >> we are all shoppers, john, here's what's happening at this hour for the first time, amazon workers have gone on strike in britain. warehouse employees in central england have walked off the job after months of talks over pay hikes. workers say recent pay increases are not keeping up with inflation. norfolk southern reported mixed quarterly results and raised its dividend but the stock is down about 6% investors are focusing on rising expenses and weak annual revenue guidance railroad says a weakening economy will limit shipping volumes. and natural disaster around the world caused $132 billion in insured losses in 2022 making it the fifth most costly year ever for insurers that according to a new report hurricane ian accounted for $50 billion of

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i think you like shopify. which announced layoffs. the stock is having a pretty good day.esla. >> alphabet. charles: so you had this activist investor today saying hey, he has 6 billion shares, you have to lay off more people. counterintuitive to the market laying off would help the stocks go up but what do you think? >> i think a lot of companies did a lot of hiring thinking growth they were seeing would go on forever. alphabet, announcing 12,000 job cuts, they could lay off 20,000 and still be at the levels prepandemic. there is some, you know there, is some meat to be cut there. charles: right. >> or some fat to be cut there. but what i think is, what you're looking at google, alphabet, the stock is cheaper than the broader market right now. it has never been cheaper than the broader market. if you see job cuts come through that -- charles: it's a value play. ask you real quick in 30 seconds is jenner rack a value play? 500 bucks to almost 100 bucks. yikes! this is nuts. love the way it is starting to turn here. you look at a stock like this, retracement from what they

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with shopify, you have everything you need to sell online and in person., and customers in sync across all the places you sell. 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. >>> let's get to the bottom of this tax refund issue that investors are so focused on. your refund is likely to be a little bit lighter this year with those pandemic-era reliefs expiring let's introduce chris senec of wolf research, chief investment strategist great to see you again, chris. first of all, i've heard a lot lately, people saying, wait a minute, the economy might be slowing, but won't refunds provide a boost for now. on a macro level, what would you say? >> we're doubtful that -- thanks for having me on, kelly. you know, when we crunch the numbers, there's some one-offs that were present last year from the pandemic that won't be there when folks file their tax returns this year. most notably, the child tax credit expired at the end of last year. that was $3,000 per unit and that

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you see it in wayfair, you see it at shopify. was initially when the stores were closed, consumers leaned into e-commerce to such extensive levels that there was an expectation those levels would hold. first what happened is consumers returned to physical stores and then they had inflation so they had more money spent on food and energy, and then they had revenge travel and then it taylor swift. i think you see a return to live events but from amazon's vantage point as well as wayfair and shopify, people are not shopping at e-commerce and that is a problem. tom: this has shattered the a and r screen on the bloomberg, there are 55 buys, three holds, and one cell. the streets violently against what they're doing. lisa: clearly they do not see this as a massive downside, this might just be the medicine amazon needs to have the same profitability with pricing. i wonder, 18,000 corporate jobs cut, does that indicate a broader wave of job cuts among the rank-and-file in the months to come? michael: yes. i think part of -- >> yes. i thi

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