what do you think of temu. >> we respect all retailers.hey're the latest one of the emerge. they're largely online. i think the impact they're having is largely to other retailers that are largely online. we're 98 are% in-store. we've seen very little impact to us specifically. maria: being real careful there, ryan. but temu is taking market share from american retailers, another chinese company coming in and trying to redefine their business. >> they're very popular, and they do a lot of advertising. you may have seen their super bowl commercial, i believe that cost them about 10 million bucks for a minute of advertising. that's not cheap. but what is cheap is what they're selling. they're selling athletics, apparel, consumer goods for 10 bucks or less typically and they're able to do that on the backs of really cheap labor and problem he bring unfair labor -- probably p unfair labor practicesnd that's a decision consumers need to make for themselves, what they want to support. there's no question, there's regulatory risk to this stock. i

we've talked about temu and shein. they've captured a significant chunk of the american consumer.mfortable with the data they are collecting, it could be just as tough to turn back the ex paengs. temu parent pinduoduo has surpassed alibaba in market cap that is a huge reversal of fortunes showing on one hand how far pdd has come in part thanks to temu and how far alibaba has fallen, there's been such an uphe uph upheaval. we didn't even have chinese apps that american consumers really on a significant scale. now we have three. tiktokpinduoduo and shein. >> for sure. and you mentioned, dee, the biden administration looking perhaps to place some restrictions on tiktok a the approach is national security concerns or privacy, not gting at what ems to be bothering folks, elon musk saying tiktok is probing his brain this week, but the viralty and the messing, the misinformation, the contt and how it travels. nothing really seems to be targeting that. >> i think that will certainly be a bigger point of discussion and debate especially in the year leading up to the next presidential eleio

temu says it "strictly prohibits" the use of forced, penal, or child labour.be open to all pupils, who will learn around 1,000 signs on the course. a group of mps has called on the premier league and other sporting bodies to cut what it calls the "bombardment" of gambling advertisements in stadiums. a report by the culture, media and sport committee welcomed a planned move to withdraw gambling sponsorship on the front of shirts, but said there are many other adverts to address. frances read reports. from day one of the premier league season, it's on the shirts and in the stadiums. those watching see thousands of gambling ads across multiple games. mps say the bombardment, particularly for kids, is too much. and while gambling sponsorship on the front of premier league shirts will eventually go, the cross—party culture, media and sport committee says it won't be enough. mps have recommended a new gambling sponsorship code of conduct to be developed by the government and with sports governing bodies, and that a high proportion of ads should promote safer gamblin

our karespandent natalya ignatsenka pratsyagne temu.ral machinery workers are no less busy during the agricultural season. of course, the haste to be a herder is the hell of supernatural technology. uladzimir prazhyn at rural gaspadarians pratsue ne adzin dzesyatak. gomelshchyn: more than 650 tons of frozen agarwood, 3 million layers of frozen peas, skin season. asparagus beans grow on a traditional scale only here. the load on the equipment is heavy. by march 1, all equipment will be repaired, the farm has 38 tractors and 33 cars, there are three mechanics, a master adjuster, a turner, a welder, we have until mid-january to repair all our tractors, and then we will begin repairing agricultural machines. padrykhtovka and scorching work on asable control, yes syeredzіny sakavika on gomelshchyna pavinny padrikhtavatsya and pratsy kalya 90% in the gomel region yana work in connection with gomel-abla-agraservices, there are obvious problems. natalia ignatsenka, alexander murashkin, gomel district. availability and succession of services, th

now it's temu discount at its -- is rivaling amazon and walmart. alibaba in terms of market capitalization and in -- and earning this liberty ceo praise. a bit of an american addiction. they might not know that pdd is the company behind it but it feels like everyone is using temu. spencer: it has come into the u.s. by storm and is starting to gobble up spending and market share and had its big super bowl advertising blitz in february saying shop like a billionaire. you can splurge as if you have a ton of money even if you do not. it is like an online dollar general in your phone of a broad assortment of stuff, very low prices, and the sacrifice u.s. shoppers have to make is waiting for delivery times. that would be the downside. you'll get prices you cannot beat anywhere else but you have to wait for the stuff to come to your doorstep. caroline: what is the threat -- ed: what is the threat to amazon? spencer: the threat is the price sensitivity. will it win some of the market share from amazon, especially a stocking stuffer market share. amazon ceo

. >>> temu filing a lawsuit against shein of infringing on the intellectual property rights and otheres to halt temu's growth in the u.s. >>> tesla is reportedly looking for a government affairs specialist over spreading strikes in nordic countries. a company job posting is looking for a proven track record of getting regulatory changes made in that region. >>> coming up on "worldwide exchange," one word every investor needs to know today and the central bank's mindset and what it means for" the new yea >>> if you miss us on "worldwide exchange," you can check us out on your favorite podcast apps. more "wex" coming up after this. things will go wrong for your customers. but your business can make it right, with watsonx assistant. ai that can help resolve problems by understanding your customer requests with 90 percent accuracy. let's create customer service in service of customers, with watsonx assistant. ibm. let's create. (♪♪) business can happen virtually anywhere. (♪♪) but there's nothing like being there. at national, you can skip the counter... and choose any car in the aisle...

sarah: that's right, especially temu.red to the top of app stores and expanded rapidly to over 40 different markets globally. it is increasingly a force to be reckoned with. we saw in may they overtook she in in terms of overall transactions and the gap between them is widening. definitely an app to be reckoned with and pdd is something investors are increasingly interested in. shery: why is it so popular? sarah: we have seen that pdd build success in china domestically with quite innovative e-commerce models. one is the giving tradition idea of e-commerce where they try to make shopping fun, they include games and rewards to try to stimulate people to come back and use the app and create the social community experience. they are bringing that model to the u.s.. and they have this consumer model where they directly source products from the factories themselves and that allows them to keep the costs as low as possible. it wasn't always easy, though, pdd suffered a few setbacks after going public on the nasdaq in 2018 permi

the journal wrote about the rise of temu's chinese parent reshaping e-commerce but you also have thisa time the consumer is getting tapped out. >> that's right. it helps the discounters, but i think there's no getting away from the fact that consumer spending is going to slow significantly in 2024. that's going to come along with a higher rate of unemployment and as a result, i believe there are too many out there that are too optimistic about corporate revenue growth and corporate earnings growth for the upcoming year. maria: all right. we will keep watching all of that. you are expecting things to slow ddown but are you expecting a recession. >> mild recession. i think if we have a recession it may be the mildest recession since the great depression. i hope it's nothing worse than a mild recession. maria: real quick down the line, brenda, do you agree with that? >> we are not in the recession camp. we think he slowdown but not recession. maria: dennis, your thoughts? final word. >> i'm with john on that. i think it will be a very modest recession but it will be recession. maria: we'

. >> how is the arrival of apps like temu affecting the supply chain and the retail kind of network thatt. there's always going to be a new app. some will have staying power, some won't. i think the one thing that a lot of brick and mortar retailers did during the pandemic is really morephed into the multichannel experience. apps like that are competing with walmart, target, and others, who have all now have a great online app presence. >> i would have thought the sheer amount that people are ordering straight from the factory in places like temu is a different experience that they run lean inventories. it would seem like it would undermine a business like yours do, trying to connect goods to where they're most needed and things like that. >> there's always going to be a need to walk into a store or a mall. you know, my mom's a great con consumer. he will never buy anything offline. she wants to see it and maybe consummate the deal online on her phone, but she wants to know what she's buying. that's what you give up when you use those apps. >> brett, appreciate you joining us. thank you.

destroy about five or six su military personnel, and also during the battle we take four prisoners, temuachine guns, give us more machine guns. there is nothing more, how many times was i wounded, and i was wounded three times, it turns out that the first time was a survivor, seriously wounded, received multiple solid wounds there, his heel was crushed, a polish mine flew in, sixty silent, soundless and right next to his leg during the assault, just the second time here in the marina, now we will reach the first beam. russian troops have already moved beyond marinka towards kurakhov. that's where it's arriving. drones are flying above us, but they are already ours. literally, maybe about 400, 500 meters away, there’s an assault, the enemy has already retreated beyond the field, they’ve pushed him out, there’s marinka, a tnt block is lying around. yes, what’s wrong with cleaning? they’ll find it, the sappers haven’t worked here yet , so of course we’re making a daring sortie, there’s no one, you see, no cars, no people, they just took it, so we handed out a victory banner to every directi

everything on temu right now has free shipping, my two favorite words.s. it's 8 a.m. free shipping is close. >> i can't believe the numbers i'm about to read. 86% discount. >> that's right. for a grand total of just $3.90. we have these amazing speakers. slash clocks. leslie backstage was blue tooth speaker dj'ing. they're really amazing. they have lights inside. you can travel with them. they are portable. they're on the go. they come in a variety of different colors. they're great. they're compact. >> good deal for a tech lover. next gift for someone always on the go, and it is just $0.99. is this spinning into the wall? >> yes. $0.99. this is a compact phone carrier. a cross body but the straps are adjustable so you can carry it how you want. what i love about these, besides the colors, which are super cute. this is capable of being used while still in the pouch. say you're shopping, you need to send a quick text. >> you can do it on the screen. >> compartment for your credit card, charger. really great. just $0.99. >> anybody would be happy to get th

we might be a temu family. i don't really know. it's funny. saw the first research today on shein. some analysts are starting to get ready. it's still a ways away, the ipo, but obviously, they have done a great deal of marketing already in terms of getting people prepared to understand their business model, but let's get back to amazon. what's the focus for you? you know, is it broad? is it consumer? is it aws? is it all of the above? are you going to talk about prime, which i always go on about and whether they need to be spending all that money? >> yes. well, look, prime, you spend the money, let's say, on prime video. it brings in new people. worldwide. i'm going to focus on international, which nobody focuses on, and i think it's terrific. and you know what, david? amazon web services, that's been their focus. it's really come back. back into growth. and you know why? a.i. so, yes, the focus will be a.i. because, you know what? i think they're playing catch-up, and i think they'll pass everybody. >> you think -- explain what you mean when

temu, 52 million active users in the u.s. pinduoduo -- as long as i've been? business, there's always at least one chinese stock people are excited about. >> it's pdd. they're as skren dent. last week the stock had a great start because they reported earnings far above estimates. temu is, by the way, one of the largest advertisers on meta, on facebook, on instagram. outcompeting sheehan which we have to talk about every day. >> henry sheehan. >> henry sheehan -- my agent is henry. we know that's henry shine. >> there's been so much press about it. >> people don't -- >> we moved on from alibaba. >> yes. alibaba is old news. it's all about pdd. >> who got alibaba? >> who got alibaba? is this something to do with -- >> nvidia! they couldn't do the data center spinoff. >> that's true. alibaba shares have been down in part because of the decision not to be able to spin data because they couldn't get ahold of the advanced chips they felt they needed to. you can see since they reported numbers and since they told us that -- >> that was the flavor of the month. >> moo

backing up on amazon, something for all of the mega caps reading how temu and shein did $20 billion of revenue this year and basically amazon created its own demise by creating its own model for competition and then something said byd produced more electric vehicles than tesla. >> the marketplace side of amazon is not the growth engine anymore. that's why people are picking it as a top play. >> these mag seven have held the spotlight for so long and it's harder to compete with the community that meta has created. you can't just take your meta business and go somewhere else or buy a different electric car. meta is stickier. that one i'm comfortable standing behind. we've trimmed it. it's just harder to justify significant growth. competition is coming to the mega caps' way. >> the e-commerce story is only 25% of all commerce, of all retail globally. it's far from done like cloud. cloud is only 25% penetrated. >> i'm not saying it's done. if you're buying sam done, i don't necessarily think you're buying it because of the marketplace in the e-commerce business but for the growth engine t

pdd of course the owner operator of temu, which competes with shein, the goods you can buy shipped directlym china. grasso, you agree with this call. >> if you would have told me about this call a ways back i would say i agree with it. nothing bad about morgan stanley specifically, but when you look at these calls, sometimes they're a little late. room to breathe on alibaba, i'd rather do the reverse, but a buyer than a seller. >> mike khouw, where do you stand? there's a report that jack ma came back and posted an internal message to the company saying, come on troops, rally, we can do it. >> i played baba on the long side. we had some bullish moves in a few of the chinese stocks going into the biden's meeting with xi. i think there was bullish sentiment there. but overall i feel like the chinese stocks are really in quite big trouble. this is probably a big question for carter, but i'm eyeing that october 22 low in fxi. this has had quite the move in duo duo, and i'd be more inclined to fade it here, i think. >> all right, carter. >> i'm with you there in the sense that if you think about

finally, november was a banner month for online marketplace temu following black friday.es jumped 29% from a month ago to a new record, almost triple observed sales. caroline: we have to stick on the resilience of the consumer when it comes to not just retail and fashion but make up as well. the glossier ceo is with us. one year into the job and the brand is not perhaps just makeup. it is fragrance and candles, you are broadening. you have not gone direct to consumer anymore, you are now in sephora. kyle: thank you for having me. it is nice to be here. glossier is such an incredible brand. beyond just beauty, we are multi-category, skincare, fragrance, body, march. we -- body, merch. we connect with a multigenerational consumer. we have been building the foundation and scale to build the business that matches the power of this brand. we have 51% random awareness and less than 1% market share so it's an opportunity to connect the size and scale of our business with the size and scale of our brand and we are seeing that coming to life and record revenue levels for glossier

. >> you want to leave to -- lose to shien or temu. >> shien has a storefront on amazon. and aws as well, they are both partners. >> this conversation continues after the break. i tell you, he also doesn't want to lose. >> enough, taylor swift. thursday night football, and a trip to the cloud. >> i continue to be very bullish in 2024 and beyond. >> grammar has more with the amazon ceo, next. nature's bounty hair growth. clinically shown to help grow thicker, fuller hair with just one capsule a day of advanced hair complex. conquer hair thinning... ...and fall in love with your hair all over again. only from nature's bounty. only the sleep number smart bed lets you each choose your individual firmness and comfort. your sleep number setting. all over again. and actively cools and warms up to 13 degrees on either side. and now, save 40% on the sleep number special edition smart bed, shop for a limited time. only at sleep number with cirkul, your water is deliciously flavored at the turn of a dial, with zero sugar and zero calories. and cirkul has over 40 flavors, so your wat

the biggest online retailer looking over its shoulder you heard the discount online retailer called temua number one shopping up for the past year end according to bloomberg they have almost 50 million monthly users which is a quarter of amazon numbers and whether you shop online or shop in person consumers continue to spend especially in this all-important holiday shopping. deal hungry consumers are going to spend close to a trillion dollars in november and december according to the national retail federation, that is back to prepare endemic levels in the consumer matters heading into next year's vote, historically if there is a recession within two years of the boat the incumbent president has lost every single election since 1951 and we discussed this it is still 50/50 whether or not we will get a recession next year according to the economist but biden has favorable tailwinds heading into next year, he saw gas prices sub three per gallon since the first time since 2021 it if the consumer continues to spend jobs remain strong and maybe we will escape a recession. neil: the biden folks

there's temu and shein, versus amazon, and tiktok and social media platforms. i also mention the other chinese evs versus tesla. three out of four, they are uninvestable for the ordinary investor. if you are holding an etf, you wouldn't have seen any of the value creation from the new big four. shein could set the tone. it could either see the others, try to go public, or encourage them to stay private for longer, depending on how it goes. that is very much an open question, especially as washington takes a harder look. >> it's amazing. the old versus new speaks to this geopolitical backdrop we find ourselves in and the dynamics between the u.s. and china and what that meant in terms of leadership. i also wonder, and maybe alibaba has been the poster child of this, how much this new class of winners is dictated by the politics and the regulatory environment in china, when you realize there was a crackdown on some of those names that were the prior leaders. >> exactly. and sure, very dictated, because what the chinese government tried to do a few years ago is cr

we're going to talk more about temu later in the program.g on that we'll get . and alibaba, negative. lot more coming your way, including that opening bell. stay with us. after last month's massive solaflare added a 25th hour to the day, businesses are wondering "what should we do with it?" bacon and eggs 25/7. you're darn right. solar stocks are up 20% with the additional hour in the day. [ clocks ticking ] i'm ruined. with the extra hour i'm thinking companywide power nap. let's put it to a vote. [ all snoring ] this is going to wreak havoc on overtime approvals. anything can change the world of work. from hr to payroll, adp designs forward-thinking solutions to take on the next anything. >> announcer: the opening bell is brought to you by nuveen, leader in income, alternatives, and responsible investing. >>> as we let the strong growth this year, consumer spend has remained healthy. while we eect growth will continue to normalize to storic ranges, we remain confident the category will continue to ow, barring a macroeconomic event. in addi

and the nasdaq gaining a full percentage point, 14,300 for the nasdaq temu the fast growing super cheapnese e-commerce platform arm is taking on the us dollar stores. data from ernst analytics found temu accounted for nearly 17% of market share in the us within the discount store categories. in comparison, us retailer five below accounts for 8. dollar general still leads the way though with 43% of the discount retailer market share, some money could be coming your way if you received a preapproval offer from credit karma in a settlement with the federal trade commission, the company agreed to pay out $3 million for deceiving customers. and now the agency says despite receiving a preapproval, people who applied for credit through credit karma were not actually preapproved. and as a result, their credit scores, scores dropped. the ftc is sending notices to nearly 500,000 people. if you think you may be impacted, we do have details on how to apply for the settlement on our website. just go to ktvu. .com/ weblinks and starbucks. speaking of them, they're giving customers a sweet deal this h

i'm blaming this on temu and shein, those chinese apps, the amazons, if you will, but they sell stuffnything in the world. and the issue is that etsy's work force is oversized for the size of their business. they're saying all these cuts, each though the stock's up a little bit, aren't going to fix the core problem which is there's no growth. and they actually call it etsy the next ebay. stuart: oh, dear. the barbie movie, that was from -- mattel makes the barbie doll stuff, right? that trillion role in the movie. are they capitalizing on it? lauren: well, mattel, 125 million in barbie sales because of the movie. stuart: $125 million? lauren: yeah. so now mattel is saying, well, what if we teamed up with paramount, we also own american girl, and do another toy-centric, live action film? and so they are. the american girl movie is coming from paramount. that'll be a big win for mattel. if you look at mattel versus hasbro, has hasbro doesn't have these popular dolls or movies. hasbro is down for the year. stuart: adam, you've got some stock picks. i'm surprised to see this, disney. >> i

temu says it "strictly prohibits" the use of forced, penal, or child labour.y the bombardment, particularly for kids, is too much. and while gambling sponsorship on the front of premier league shirts will eventually go, the cross—party culture, media and sport committee says it won't be enough. mps have recommended a new gambling sponsorship code of conduct to be developed by the government and with sports governing bodies, and that a high proportion of ads should promote safer gambling. the report also supported extra online protection for young adults and for the introduction of a levy to be paid by gambling operators to fund addiction prevention and treatment. children are obviously, you know, go to football matches with their parents. it's a sort of standard family, wonderful outing. but there, there is a lot of exposure to gambling advertising. it's on the front of shirts, it's on the side of shirts, it's in the stadium in terms of the banners. it's also on the various sort of leaflets that are handed around. and what that does, and we've seen through thi

. >> interesting point on the likes of shein, which will becoming public next year and temu which i've been talking about because of the strong numbers we got, that new business model they have in terms of how they access consumers and respond so quickly to trends just based on the desires of the consumer. jim, amazon's a lot more than about selling stuff to people. it's also as we say about aws. so much of the profits and growth of the company has been from that important engine. jassy discussed that with you. he said it's a $92 billion business right now. what did you pick up from him in terms of beyond that? we can take a listen to some of the sound that -- his thoughts that he shared about aws. >> i continue to be very bullish about aws come 2024 and beyond. i think that, you know, the business today is a $92 billion annual revenue run rate business. 90% of the global i.t. spend is on premises. if you believe that's going to flip in the next 10 to 20 year, which i did, if we have the large functionality, which we do, if you have the largest partner, which we do, and the customer or

online commerce faces challenges from chinese's shein, temu, and tiktok.learned that apple is readying new models and upgrades for early next year to stop a sales slump. sources say the new ipad air will come in two sizes for the first time and the pro model will get oled screens. the macbook air will also feature a speedier m3 processor. the ipad and mac account for 15% of apple's revenue combined. they have been hit by a decline in consumer tech spending. haidi: take a look at how australian and new zealand bonds are trading. australian bonds climbing for a fourth day. treasury futures rising after advancing overnight. we saw the drop in crude prices, european bonds extending gains. another day of games with australian bonds this thursday. we are watching if there is any opportunity gap between what we are seeing across australian assets versus the fed given that we are now expecting the rba potentially be done. maybe not as done as market expectations are for the fed. that 10 year yield in australia falling about six basis points. the three year taking

i am very -- i am very afraid of china, but then you'll get some, you know, shein or temu, and people get excited. i don't want anything do with china whatsoever. nothing. nothing. >> meanwhile, our own regional bank index, back above the 200-day. late last week's weekend in banks was interesting. >> any bank that has a 6% yield is a 5% yield because the stocks are going up. i watch -- just so you know, i watched "ffirst horizon. that stock was an 11 -- it just moved to 13. that's a good percentage gain. people want that kind of gain, and it's still -- think about it. it's still 12 bucks below where it was going to be. >> right. isn't this sort of what every -- wasn't this the playbook that you sort of was wishing would happen? broadening in the market. >> right. >> more names above the 200, and that's working, right? >> all that's working. against that is we're really overbought, and gold and bitcoin. bitcoin cannot be here without people thinking, whoa. what's happening? i just don't -- look. what can i say? i want it lower. it's a push right now. >> yeah. it's remarkable. first tim

we were talking about how temu has lured in a new type of buyer. they have halloween outfits there.aroline:temu, t-e-m-u. they are taking on amazon and alibaba. it takes longer to get the goods, but it is a lower price point. are we seeing the break down into mastercard numbers as to where people are going online? simone: not in these specific mastercard numbers. we get some indication for what they are spending on apparel versus jewelry, seeing some declines. the retailers have been talking about the omni-channel. we want you to be able to go into a store, try something on, play around with it, go home, buy it online and we will have it ready for you at the store tomorrow or later this afternoon. that is a real genesis for them. it is not just online, it is online, or delivery, because we are on the way to christmas dinner and we want to pick it up. it is not just online spending, it was a breakdown in different ways that people can get stuff. paul: and the story in retail over the last 10 or 15 years was the death of the department store. we have talked to other folks in retail, a