we're waiting tjx earnings today, out before the bell.rday, home depot reporting a miss on revenue, they had bad guidance, same store sales also bad. it shaved 150 points a off the dow, stock was down 7% on the session. walmart said its same store sales were up 8.3% but its guidance for the quarter and the year also below expectations and that stock had a volatile session yesterday, ended actually it was up at the end of the day. your thoughts on retail? ?>> i think home depots is getting the hangover after the party, talking about home sales are down so people aren't moving as much, do it yourselfers, all the projects from the pandemic are probably done at this point so they don't have a lot of levers they can pull. walmart sells groceries. right now we have a consumer spending more on groceries, spending on travel and that consumer spending number last week was amazing. there's no he denying the consumer's spending right now. you don't need a weather man to know which way the wind blows. despite high inflation, i said this week after we

when tjx is doing well, the rest of the retailers aren't doing well one reason to raise prices, natural gas dipped below $2 today. the lowest since september 2020. that could reverberate throughout the system. oil down again at the pump but the big three, bottom line, food sticky because of geopolitics and agricultural issues but start asterisksing the walmart number and housing about demographic trends and wages, look, if a recruiting company just told you today, last night, that things are getting tough, well, that's signaling there is a big slow down so maybe, just maybe the fed is on the right track. dave in north carolina, dave >> caller: hey, jim. first time caller. nice talking to you. really appreciate all the work that you do. >> thank you. >> northp grumman pulled back. your out look? >> it will have a good year and people are under estimating the situation in ukraine and they'll have to reup and we'll have to build more armaments and they are a great stock in that environment. how about john in new york, john >> caller: boo-yah, jim. what's up? >> boo-yah, john not much, just

obviously, some of the comments by bullard today along with some additional retail touchpoints like tjx, all getting absorbed but the fed minutes this afternoon will be key. >> 2:00 p.m. eastern time. we'll start with a citi note out today envisioning a less hard landing. they say several possible catalysts. they also say, the campaign against inflation still has a long way to go whiledown, citi argues the ongoing demand is fueling tight labor markets. that spurs their belief for three more rate hikes this year. taking the fed funds rate well into the 5% range. it's basically where the market has caught up to in the last week we're going to talk to the arthur of this note, citigroup's chief global economist nathan sheets in just about a half hour first, let's bring in cnbc senior markets commentator, mike santoli, to help break down some of the key things laid out there. mike, as the market readjusts to the new reality on the economy, inflation, and the fed >> yeah, sarah i mean, i think the big question investors are probably asking is, what are we exactly wishing for? are we wishing f

karen, you were mentioning tjx what do you think?oss margin was a little bit disappointing. i like tjx it's not cheap it's never been cheap. they do a great job. they also talked about a buyback, so i'm hanging on to it i think it's somewhat counterrecessionary in that, you know, if there's excess inventory, it's bargains and also, i think the slowdown in home sales has hurt the home goods portion of it. maybe we'll see some bounceback there, but i'm hanging on to it. i like it. the latest fed minutes indicating more is needed to bring down inflation, and our next guest suggests that weakens the case to own stocks jim bianca owns bianca research. what did you think of the minutes? did that change anything about how you think the fed is going to proceed >> no, the minutes are hyped because jay powell said february 1st that he would lay out a detailed plan for how the fed would pause, and when we got there, we didn't really get a plan and it was before an uptick in cpi and really doesn't apply anymore. that set the stage for what we've

p up 11 1/2 nadz higher by 50 points looking to retail earnings and economic data, to set the tone, tjx reported this morning a better-than-expected number, the company forecasts a weak annual profit despite beating fourth quarter revenue estimates anyone nvidia a ebay after the closing bell tonight key economic news federal reserve february minutes out 2 pm eastern we will be watching that this afternoon, then second read fourth quarter gdp out tomorrow morning federal reserve preferred inflation read friday morning pce report join us for that all-hands-on-deck, stocks sold off yesterday, dow industrials down almost 700 points at the close big tech, growth led sell-off sending nasdaq down 2 1/2%, 295 points lower opt session s&p down 82, n european markets this morning, have a negative tone, throughout the session, the ft 100 down 60 points cac quarante down 19, dax also lower by 19. in asia overnight red across the board south korea biggest weak spot decline one and two-thirds percent to me ne in japan down one and a thid% others down half a percent overnight. >> president biden in po

i don't want to see it at tjx.an't resist this and i'm sure you figure it's coming you talk about demand creation and one of the major, let's say, pillars of demand creation is jalen hurts. from the philadelphia eagles. >> it's been interesting, we did it serendipitous we dealed with jalen hurts and his career in september. it's terrific he's going to be in the super bowl and we'll be able to link that organization to ours and i think it will be terrific with any luck, it's going to be frozen wherever -- actually, it will be phoenix so not frozen but sunshine we make products for sun, too. so we think it will be good. >> well, one thing is for certain, you've always been a very forward in what you're doing in terms of the internet and in terms of tiktok and demand creation. who does that for you? i think you're better at it than most companies >> well, thank you it's a bunch of people actually the best people for tiktok for us are business in china and they've done terrific jobs there selling product on tiktok and

tjx was an exception. tjx was up 6% last year. beat the market, beat the sector.t ended last year it down and are recovering from that. lisa: we have been joking about how we could have had a meteorologist on for every segment at the end of last year and probably given us that her landscape for what we could expect this year. how much this weathered feature into this? not with people going into stores but with respect to gasoline price and utilities going down, giving people more discretionary spending. aneesha: it is a big part of it. especially for lower income focused retailers, value retailers. any relief to the lower income consumer, easier fuel prices, fewer trips, lower inflation, lower sequential inflation, any relief goes straight to the bottom line in terms of spin. we have come under pressure with consumers. any relief helps to spend a bit more. anything weather related that will drive gas prices will certainly help. tom: the distance from dior to tjx, there has got to be a middle ground. i haven't understood for 20 years with the middle ground of retai

and i'll start with tjx.ay, the stock on pace for its worst month since last june. the street watching for wacalms. shares up three out of the last four reports let's get to the trades with gina sanchez welcome. you a buyer of tjx this says am a buyer. i think it is interesting. one of the things that we know is that the, you know, tales of the demise of retail have been much exaggerated, and we have definitely seen the retail sales number balance in january and you have seen a huge runup in the retail space tj max is one of these names that is one that will ben mitt iffer going into a slowdown, tj max is at the bottom of that spectrum the big challenge was getting inventory, but they're past that so we are looking at them to do well >> home goods maybe down 8.5%. we have seen that whole area of the market being hit we'll move on to toll brothers after the bell this afternoon, the luxury home builder down 2% today and having its worst month since august lots of twitter questions about the housing market is to

walmart was up on the day in tjx down wanted a quarter% ahead of the earnings.s asset management and officer, great to see you. thank you for being here, what did you make of the home depot report what does that tell you about the macro story we also have to mention the home sales number down down 36.9% january. that's a big move lower. >> inflation is not going away anytime soon. i do believe the fed will raise two more times during the first half of this year and then stop. why are they going to stop the great engine of economic growth that being the consumer is showing signs of deterioration. retail sales fall and through the last five months spending on services fought in december market the worst total in last year. last year was the worst year for auto sales and we learn from the new york fed that household debt is the highest it's been in two decades and were starting to see signs of delinquencies. how much longer can consumers expand the the economy will slow and that'll give the fed enough cover to stop raising rates at the end of june. maria: your pain

that's fogood we'll get to tjx in a moment as well jim does mention intel, and the chip maker is cuttingts quarterly dividends by almost two-thirds they say it will improve their ability to execute their transformation amid economic uncertainty. also reaffirming the current quarter guidance, they're going to cut some comp for employees and executives and the board >> you know, they should just get out of the forecast game >> get out of the what >> forecast. >> forecasting >> i have no conviction that their forecasts are right at all. you know, we're not dealing with general mills here david, how many times did this company say that their dividend was safe >> many. many, including very recently. >> yeah. >> with deirdre bosa, where she pushed pat gelsinger >> it's like dustin hoffman in "marathon man." >> is it safe? >> which one is olivier and which one is dustin hoffman? i'm tired of it. i'm tired of it because people at home watch, and they say, oh, look at that size dividend, and they just reassure it and they slam this guy, cramer, when he suggested the dividend may be in jeopardy i'

. >> are you looking at it with respect to tjx, home depot, and others >> we've definite le chasing thiseing it's a completely different environmental. we've paired it back in light of the fact the dynamic we were in last year is not relevant we're taking sector source risks across the partnership >> ross, you get the last word how are you positioning yourself >> i think international is really interesting now you mention valuation. europe has looked quite cheap. i agree. thereality is it's a soft landing. from here, upside, fairly limited in the near term because it's hard to see skpapts r.a.i.d. rates we like the cyclicals, we think the eck number image feature is here. >> thank you and thank you for watching us on "worldwide exchae. atoeitor us. i'm contessa brewer. "squawk box" is next everything's changing so quickly. before the xfinity 10g network, we didn't have internet that let us play all at once. every device? in every room? why are you up here? when i was your age, we couldn't stream a movie when the power went out. you're only a year older than me. you have no idea how good

so you know what's not doing well at tjx? the home goods business.an't afford to move >> so, some strength might be the inferior goods effect. looking for cheaper -- downgrading. >> that's what we worry about. a tough economy, people buy more of what's affordable, we have seen that with walmart in the past are we seeing that across multiple categorys >> good. thanks, jon. >> we're open for business at the nasdaq jon's been coming back everybody's been here. it's really good. >> like 15 people at the table about 20 minutes ago. >> we did. >> it is like thanksgiving dinner >> exactly >>> coming up, one of the reasons -- not really arguing -- >> a lot of crazy turkeys. >> excuse me >> coming up, i like when the turkey explodes, when she cuts it too long. >> coming up -- >> coming up, one of the reasons consumers may have more money to spend. tax cuts find out if your state is providing any tax relief and and we go to the front lines of the debt ceiling with a debate with new jersey congressman josh gott goheer tre a bipartisan solution on the horizon th

we are going to get earnings from a slew of companies, walmart, home depot nvidia, tjx, maternal to name just a few. plus major economic data to watch, existing home sales, fo mc, jobless claims and the core pce index. last week the fed was in focus and fears of the central bank raising rates for longer causing other nervousness. stocks were a mixed picture to end a week, s&p 500 representative the two weeks of the crimes in a row. however, since his october lows, s&p 500 has rallied 14%, not too shabby. quite the rebound for major averages but now morgan stanley's mike wilson says investors pushed stocks into the death zone. it sounds just as bad and just as fast as it sounds. it refers to an area on the world 14th tallest mountains of mount everest for the auction pressure is not sufficient to sustain life for an extended period. wilson saying investors followed stock prices to dizzying heights again, a place he says investors know they shouldn't go and where they cannot live very long. it is dramatic, is it not? can investors come out of the death zone unscathed or could there be cata

it it comes on the heels of walmart and tjx last week where inventories were also lower significantlytail it is more important thing coming out of the fourth quarter for investors in addition to the forward outlook. giving the targeted provide guidance that does look reasonable, we are not surprised the stocks are up a couple of books. ucks. alix: how easy do you think it is going to be for targeted be their own guidance? chuck: to mix have their business. it has been very skewed to food and household essentials. close to 60% of sales have been softer appeared on their call this morning they cannot get any mind of for discretionary to improve. the second thing would be promotions. their business was better in the fourth quarter starting in the middle of december. we saw the on the gross margin line. the question on upside depends on those two factors. guy: talk with the margin story. this is a company that is meant to struggle to develop margin. chuck: they outlined a multi-year operating margin rate around 60%. that is in line where they were in 2019. in their stores are close to 35%

. -- down today for tjx. they have a miss on estimates. and a big week for them.at someone had a sick -- here's an individual -- here is what the mart cfo had to say. >> there is a lot of macro uncertainty as we look us the consumer across the globe here in the u.s.. the balance sheets are getting thinner and savings rates are declining. we have not been at decision where the fed has tightened the rate. when we look forward and give guidance to the year we adopt a cautious outlook. guy: the caution i think may be showing in the data of the ports. what you're getting here, this is the port of la volumes. this is down from the six straight months. and walmart is talking about the move downward and china has been out for a long period of time. in the east coast taking back on volume as well. but i want to reference back to the pmi data earlier. during the pandemic we wanted lot of stuff but now we want lots of services. kailey: yes experiences but not goods. that is the name of the game. the port of los angeles executive director, gene seroka is joining us now. it is

quarter gdp thursday pce report friday at 8:30, then earnings this week we've got walmart,home depot tjx all coming out this week, that is going to be potentially market moving take a look taking a look at european markets trending today you can he see ftse cac 40,in asia overnight green across the board. shanghai composite big winner "mornings with maria" is live right now. >> staying on top story of the morning president biden, making a surprise trip to kyiv announcing dibbling aide to ukraine fox business white house correspondent edward lawrence at the white house with latest cloak and dagger motives to get the president to ukraine. >> it was you can imagine no military presence on the ground so that is one thing concerned about, you know, this was first visit by president biden to ukraine since the invasion happened a year ago, he met face-to-face, with you ukrainian president zelenskyy it was a dramatic way to show support for ukraine ahead of the one year invasion. >> one year later, kyiv stands. and ukraine stands. democracy stands, america is standing with you. >> so president k

we have home depot later today and tjx and e-bay.e one theme or one met icmetric we should look for in how the companies really look? >> we have been receiving a lot of negative guidance retailers are warning us not to expect much for the first quarter. for every positive guidance we receive, we receive seven negative this is around the inflation picture. this is the word we are hearing overall in the retail earnings calls. to date, 103 retailers reported earnings and 75 reporting inflation worries in the earnings call. we are keeping a close eye on inventory levels and gross margins because promotions were high in the month of january that is what actually boosted january retail sales last week when the government reported those numare thing s we will se they move promotions >> you gave us great stats about discounting actually acce accelerating after the holiday season into january. give us a sense, is that in response to inflation or retailers with too much inventory? why? >> the discounts is luring shoppers in. we talked about th

tjx, pretty much retail here, ebay, etsy. also we're getting chipmaker nvidia and ev macher lucid.rgy name our "countdown closer" has his eye on. joining me state street global advisors chief investment strategist. he is responsible for 3.5 trillion in assets. can i get your thoughts on the selloff today, what you feel was the heart of it? >> liz, i think there was a pivot in the market. unfortunately not a pivot investors were hoping for in january. jobs are poor. hotter than expected inflation numbers, poor earnings, geopolitical flare-up resulted in a market selloff. there is real pivot and shift what happened in january. this come together to increase volatility and put the markets in a very precarious position. liz: you're going back to energy. we had the of i-shares of blackrock, here at the top of the show, she does like energy even in this rising rate environment. your energy name, pioneer natural resources. why? >> because the margins are around 29%. here is the thing that we learned this quarter in earnings. companies reached a limit in terms of how high they can raise pr

only buying non-discretionary items and wealthier consumers coming into the store and then you had tjxking about a big increase in shrink, which is code word for theft. so if we're in this hot economy, why are people stealing more stuff? to me the consumer's under real pressure that's going to allow the fed to take their foot off the gas. but then it all gets down to as you said what are the earnings company by company >> and the companies you just mentioned there, notably, are consumer-oriented, consumer-facing companies. do you see the same kind of earnings pressure affecting other companies, let's say, the high-tech companies that sell to enterprises or b to b companies? >> quite frankly the company side or the corporate side of it started about six months ago in terms of layoffs, travel restrictions, hiring restr restrictions so i think it's coming from both sides. the data we're seeing, and we saw housing data yesterday where u.s. home prices are down 13% from the peak. but the cpe pcpi data is still showing increases in shelter i think things are going to roll over, give the fed

show-me stories are dollar tree, as you cited, and burlington so, one dollar store, one off-pricer tjx week, i mean, 7% same-store sales shows that value of convenience. the question is can dollar tree do it. dollar general has been the best in class in the space, and the question is can defibrillator tree pull up -- pull up from behind as well >> we will see i know we'll talk to you about it soon. matt boss, jpmorgan. thank you very much. time for mike santoli's last word on this last trading day of february, trying to get off the lowest levels of the session heading towards the close. >> it's sort of ping-ponging between a couple of these clusters of -- the small caps have been outperforming all day, also outperforming on a year to date basis the dow is made to look much more ugly by goldman and unitedhealth, which is to say in general on balance you have a pretty neutral setup for a day two months into the year, s&p 500 up 4% or so. i think most people probably would have signed up for something like that. the issue is nobody's comfortable about it because nobody -- either they're s

sending us a flashing red warning sign that lines up with not only today's pce number but walmart and tjxream consumers in a vice between inflation and high interest rates that look like they have to go higher. >> so his company attempts to help people raise their credit scores, right, by including rent as one of the metrics that is used in tabulating that higher credit score he's concerned about high debt to equity ratios. >> yeah. >> if you raise credit scores and more people are able to take on on more debt, is that necessarily a good thing >> well, at the individual level, remember, if your credit score is higher then you don't have to pay as much interest on that debt so it's going to help you overall. also talking to intuit's ceo this morning intuit reported and credit karma is seeing that creditors are saying no to more subprime and near prime borrowers if you're prime, you got a much easier time accessing capital and so, boy, if you can get closer to prime when you're struggling that will help a lot. >> i'm surprised he's so bearish. they're supposed to be getting wage gains >> es

they're talking about tjx just reported and their top line was fine but they took a huge shrink chargeat from target. retailers are really having a problem with theft here. maria: we'll leave it there. staystacy, is great to see you s morning. thanks so much. >> thank you. maria: voters are fed up with sky high prices at the gory store. eggs up 70% in price over the last year. the chairman and ceo of gris atf gristidi's supermarket is here, john catsimatidis is here on what he's seeing. back in a minute. ♪ boogie wonder land. ♪ dance. ♪ boogie wonderland. ♪ plates. plates. plates. there's somehow no better way to travel this place, than on a plate. and when you add price drop protection, expedia pays you back if your flight becomes cheaper. so you can taste your way, through every single plate and never wonder if you found a good deal. because the good deal found you. ♪ a ballet studio, an architecture firm... and homemade barbeque sauce. they're called 'small businesses.' but to the people who build them there's nothing 'small' about them. that's why at t-mobile for business... you'll

. >> tjx before the bell tomorrow all-time high a week ago, trade it off today makes sense trading at3 multiple is going to be -- i think that's a huge tell as to really what's going on in the consumer space this should be a perfect environment for them. >>> coming up, a lot more. toll brothers and coinbase on the move details from the quarter and health care healing. could it be pointing to a strong prognosis for the group? t details when "fast money" returns. all across the country, people are working hard to build a better future. so we're hard at work, helping them achieve financial freedom. we're investing for our clients in the projects that power our economy. from the plains to the coasts, we help americans invest for their future. and help communities thrive. (vo) verizon has the epic new phone your business needs on the 5g network it deserves. boost your team's productivity with samsung's fastest processor yet. switch and save up to $1000 on the new galaxy s23 ultra. now that's epic. on the network america relies on. (swords clashing) -had enough? -no... arthritis. here. aspe

i'd rather be in walmart >> all right >> whether it's walmart, home depot, tjx, bed bath today now, orthis week has been fairly negative, and it does bring us to what target's going to say on tuesday. >> i know. i mean, i think target, at least the stock has been -- it's ready for a not-great number i know that the apparel part of walmart, they are not raving about it, but boy, they source that thing all over. very inexpensive. look, i just think that retail represents the part of the economy that is not on fire. and we now have to start thinking more about the -- if you go back to the tolls -- toll call, the 50 million people who are millennials. they're not going. 60 million i mean, there's just some number of people that bought everything they needed to buy, and i thought that bath & bodyworks, the good thing about it, david, all the stuff you go through it and there's a lot of return customers, but i'm very concerned about that particular part of retail, which is the part that is -- you might have stocked up on during the pandemic, and you're not done. look at the retail, david, in

later we'll get updates on garmin, etsy, tjx, and ebay with more on the health aspect of the consumere s&p companies trading to their premium are all on consumer discretionary. head over to my twitter feed by the way, keep it right here when "ua b" sqwkoxreturns, we've got a major investment in soccer that story coming up next. keep it right here. >> announcer: sectornomics is sponsored by sector spdr etfs. ♪♪ we all have a purpose in life - a “why.” maybe it's perfecting that special place that you want to keep in the family... ...or passing down the family business... ...or giving back to the places that inspire you. no matter your purpose, at pnc private bank, we will work with you every step of the way to help you achieve it. so let us focus on the how. just tell us - what's your why? ♪♪ power e*trade's easy-to-use tools like dynamic charting and risk-reward analysis help make trading feel effortless and its customizable scans with social sentiment help you find and unlock opportunities in the market with powerful, easy-to-use tools power e*trade makes complex trading easier react