here's a look at shares of tesla up 6%. one of the many bright spots in the market today the dow up 338 points, s&p up 70, nasdaq up 300. s&p and nasdaq about to snap a seven-week losing streak dow snapping its eight-week decline. let's take a look at some of the movers this hour with tesla trying to make it three days in a row higher after a brutal stretch for the stock. credit suisse reiterating its bullish stance on the company saying the decline is an attractive entry point tesla at 750, up 6% and up 13% this week. ken coinbase up 14%. cowan initiating the stock with an outperform and 85 target. the name down 70% this year and just below $74 a share today the airlines, big one to watch here taking off again today as we head into the holiday travel weekend. every stock in the sector is up more than 4% delta 2.5% hawaiian up 7% today this group has been, again, an area of relative out performance. the cloud computing stocks are seeing some nice gains the etf tracking the sector on pace for the third day in a row of gains

future sales of tesla? or is there ability to raise more equity? what i've been hearing is he could raise more equity if he wanted to. initially the thought was he would stop the roughly $7 billion. you have ellison in there for as much as a billion, fidelity, jack dorsey still may roll his stake, stepping off the board, as was expected. but leslie, there are a lot of people who want to invest with elon musk. >> a lot >> you can't question why. i mean, the man figures out a way to make a lot of money and for his shareholders as well if you can deepen the ties to him, maybe that helps you as well, with allocations once spacex goes public who knows? but there are any number of people i've heard who would want to invest. i heard he wasn't going to allow for special-purpose vehicles, get a group of high net worth individuals together in an spv that was something is that the mda did not allow for is if you signed on. we'll see if he raises more equity >> what i want to ne is given what twitter shares have done recently and how far away they are from the

tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. facebook's products harm children, stoke division and weaken our democracy. teens blame instagram for increases in the rate of anxiety and depression. it's not great when your customers are voting with their feet and deciding to kind of walk away. facebook's parent company meta dropping more than 26% last week... that is more than $230 billion in market share value. when will there be accountability? how many more people need to be harmed before mark zuckerberg listens? >>> here is your cnbc news update at this hour. on the first stop of his asian tour in south korea, president biden visited a samsung semiconduc

they are down, yes, but not down nearly as much as 4 to 8% that companies like apple, tesla, were down in trading today. >> dom, thanks and programming alert. >>> tom will join our brian sullivan for special report, the markets in turmoil, live top of the hour right after the news, cnbc >>> a desperate last stand underway right now in mariupol blood bloody battles raging in the steel plant. it is the final stronghold where the soldiers where completely surrounded and civilians are struggling to survival undergroun bunkers the rurgz war machine has been trying to storm the complex for three-straight days. this is new drone video of the leentless bombing and shelling ukrainian commander says his troops are holding the line but the fighting has been fierce and ongoing. in a video message today, the commander begged the world and ukrainian president volodymyr zelenskyy to res cute civilians and wounded soldiers inside the plant. >> translator: we call on the world's community to evacuate civilians and i personally appeal to the supreme commander in chief to take care of wounded soldiers wh

tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. >>> this morning, david, my squawk on the street come padre seemed shocked he needs to act and act now with a much tougher stance. he has the freedom to go big he could even do 100 basis points, and he should. after the superinflation inspired earnings disasters we just got from target and walmart, everyone should understand the urgency of the situation. it's right in your face. dave said, you love jay powell how could you turn him like this first off, i love my wife, my kids, the philadelphia eagles. but i gave him a free pass in december even then, we knew omicron would be more mile than delta in terms of symp

tesla and micro strategy. micro strategy gone the furthest by far, it takes out loans in order to buy bitcoin price of bitcoin goes below the price where they bought it that's the case where a lot of these companies and finally that affiliation with bitcoin also hurting their stock prices >> live by the sword and die by the sword. kate rooney, thanks. >>> china is ramping up its zero covid strategy chinese officials justifying the new rules by claiming "it was necessary to reduce the risk of infection when leaving the country and when carrying the virus when enter the country." this comes as business owners from beijing are feeling the pain here is cnbc's eunice yoon >> reporter: this is beijing's shopping district. normally it is shoulder to shoulder people standing around. streets of beijing are normally busy with businesses like these, clothing stores, gyms and dining this sign is becoming much more familiar, closed, until further notice >> reporter: those are staying hope trying all kind of way to survive.

apple, microsoft, tesla, al alp alphabet, the biggest sea of red. pinduoduo is down 12%, ebay down 12% on weaker guide anxious and semi conductors trending lower nvidia followed by amd, marvell technology with all of this talk about inflation and the pinch consumer, of course online retail taking a huge hit etsy, 18% lower today. yesterday the cfo mentioned how the consumer has less disposable income and more places to spend it so that stock taking a major hit. paypal down over 8% and jd.com 6%, sara >> no shortage of losers today kristina, thank you. we'll stick with tech with the nasdaq now down 25%. joining us is kevin landis from firsthand funds. kevin, selling getting extreme to you in some of these tech names or more to come? >> this feels like full-fledged horse selling. you can probably name a handful of days in your whole career where the market is down more than 5% like this and you've got stocks in your portfolio that are down 10 or 12% in a day. that's -- that's pretty extreme. >> what does it indicate what should you be doing about it >

tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. >>> we're showing you share as of boeing right there. you can see the drop still positive but not as positive what's going on? >> what we have is a report from reuters siting sources with the faab, telling reuters that the application boeing submitted remember, we talked to ceo calhoun about this when they did their q1 financials. the application for recertification of the 787 dreamliner has omission and they're if wing to send it back to being the reason the stock is not falling more and the reason it's still slightly positive. obviously the market has a lot to do with that. but this has been a constant back an

up more cash rather than encumber the tesla stake with the margin loan. he wants to get other equity investors. in theory, it would make it a less risky transaction if it gets done. >> it is smart >> he doesn't need to worry about the margin call. by the way, margin calls add interest he will be literally out of pocket twitter is not an interest to service a huge amount of debt. >> the loan from morgan stanley, after three months, they have t significant interest rates that kick in. >> they would try to refinance with bonds >> right >> this is good deal >> tesla shares appear to be higher this morning. at some point if he is going to tap for further equity, is that putting near term down 659. below the start. >> almost cut in half. they would love detail on the plan what he really did is allowed the margin loan commitment to expire there was a period of time when that margin loan commitment was active did he affirmatively decide i'll not do the margin loan or look for other options? >>> in other twitter news, we heard that silver lake ceo egon durban did

tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. >>> i have always been a big believer in democratization of the stock market if something makes it easier for the little guy to feel comfortable owning stocks, my gut assumption is it's a good thing. now i'm questioning that judgment i'm worrying that promoting stock ownership for anybody and everybody has led us to a bad place because the risks are too great. this morning, jpmorgan put out a cogent and devastating piece on research on robinhood which has been the principal democratizer of this generation the piece which is wall street speaking for cell, but the case is blunt i'm going to do it in they did it in

. >>> the drama over the twitter takeover bid the tesla ceo says the legal team is accusing him of violating a nondisclosure agreement on the back of the comments of fake accounts. >>> it is biden versus bezos goes after the president after the handling of sky rocketing inflation. it is monday, may 16th you are watching "worldwide exchange" here on cnbc >>> good morning i'm frank holland in for brian sullivan let's kickoff the hour with the check on the markets and your money. stock futures are in the red dow jones industrial average taking a turn very early in the morning. dow jones industrial average will open in positive territory. s&p and nasdaq, however, in the red. this follows a big rally on friday dow climbs 1.5%. s&p up 2%. nasdaq really the big winner jumping 4% that wasn't enough to undo the tough week all of the indexes falling 2%. the nasdaq is the hardest hit from all of them you see it on the chart. turning to the bond market coming in at 2.922 on the 10-year note it is a big threshold over the 3% mark. tech stocks hit. slipped on friday as investors made the move out of bonds

tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. . >>> there's nothing more frustrating than watching a very good company report terrific results only to see it dragged down by the gravitational pull of a horrible market like we have now take micron, the chip maker focused on memory and storage which has seen its stock tumble from the low 80s in late march down to 67 and change today. despite the fact that their last quarter was remarkably strong. in fact, the only thing better than last quarter's results was micron's guidance for the current quarter. since then, the stock is down more than 17%. goi i got to figure this out all things tech are still hated righ

tesla's full self- driving technology.. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. >>> welcome back to "fast money. kohl's shares ending the day up nearly 4.5%. ceo michelle gass says she is expecting to receive final bids to take the company private. karen is not sold on what they're trying to sell. >> i think i know what they're trying to sell kohl's announced a miss and a guide lower. that was not a surprise. what was surprising is last night after the close they put out an 8 k two sentences long really important, on may 12th kohl's corporation announced that greg revell will be departing the company effective june 1st it took them six days to come out with that sentence, six days elon musk

watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. >>> after the three days of horrific selling, sometimes it's just nice to see companies with strong results and actually get rewarded on the spot for a higher stock price look at cisco. this time i mean sysco they supply restaurants and schools and hotels i've been a huge fan of this it is a reopening plan they directly rauz prices. doesn't hurt the stock is cheap. sure enough, when they reported this morning, they crushed the sales and earnings expectations. they also raised the full year earnings forecast just a textbook raise they're taking share and taking names. that's why the stock jumped 6% it is more on the money. still not as high. so let's check in with kevin heard. he is the president and csysco. welcome back to "mad money." everyone geltell

watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. >>> an openletter to senator elizabeth warren senator warren has blamed corporations for inflation, saying they're using it as a cover to raise prices and pad profits. walmart's earnings today tell a very different story the stock is sinking it's down more than 11%, one of its worst days ever. earnings were a miss inflation is weighing on its bottom line. quote, u.s. inflation levels, particularly in food and fuel, created more pressure on margin mix and appear rating costs than we had expected, he said high er wages are also we get their profits. they cut their profit outlook and expects a decrease of 1% instead of profits increasing. inflation is hurting walmart's profits as it drives up costs. warren and others point to oil giants as well who have r

the tesla ceo is looking for investors to take on some of the $21 billion he planned to put in for the deal surprising, karen or not >> no, i mean he wans to get other equity in there so he doesn't have margin up any more of his tesla stock to let them know, hey, evenly there will be an out and liquidity event. he wants current investors to roll in. i think there could be some big humid -- holders including dorsey >> and this is usually the mo. you take something private and do some efficiency underneath the radar where no one has any clue of what you're doing. and then you spin it back public and hopefully for a premium for everybody. no shocking but i think the spread as karen has said for a while now, between the price and where it is trading now said that there is a lot that could be some bumpy road ahead before the deal closed. >> you think it gets done? >> i do. i think do it will i don't know how but it does get done but the stock that you continue to watch, you saw the sell-off in tesla, it bounced but still off of a ridiculous strong quarter and the stock hasn't gotten back to

tesla at 760 microsoft below 270. tesla at, i'm sorry, you know, i won't stay numbers right now save that for the expert over there. dom chu. tesla, apple, and microsoft below key levels and then apple below like you heard from scott after the high inflation report. our next guest warns inflation is broadening and the fed will have to do more tightening than the market expects next year we'll tell you at what point he would be willing to own treasury bonds and it's not here. the not so stable coins not helping right now. supposed to be pegged the dollar, now worth 30 cents could it pull the rug out from the whole crypto complex we'll try to get some answers and disney reports after the bell, get you ready for that report plus beyond meat and rivian coming up in earnings exchange but first, let's start with dom chu on all the key levels. >> i mean, seriously, kelly, all those headlines you just read off right now don't do anything for taking off risk and this risk aversion trade is continuing to play out right now. dow

tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. lemons. lemons. lemons. lemons. look how nice they are. the moment you become an expedia member, you can instantly start saving on your travels. so you can go and see all those, lovely, lemony, lemons. and never wonder if you got a good deal. because you did. >> announcer: the opening bell is brought to you by nuveen, a leader in income, alternatives and responsible investing. >>> let's get cramer's "mad dash." >> i have something positive cisco just blueew the numbers ot restaurants are back people want to hear this they want to have some negative story, but people are going out or else cisco wouldn't have thes

of the 34, 28 were teslas. >>> and kohl's is losing two executives amid pressure from activists to sell the business toorg taccording to the filing. craig neville, the chief marketing officer is expected to depart june 1st. those filings coming as kohl's is expected to report the first quarter ahead of the opening bell this morning. kohl's shares not spared coming off the 11% loss which puts it down for the year by 12%. brian, the sad thing is, that makes it a relative out performer compared to target >> that says something to be down that much and you are doing better hey, dad, i got a c minus. my brother got a d plus. thank you, bertha. c minus. i wish. >>> let's stick with it. target lost nearly a quarter of the market value in one day. wiping out almost two years of stock gains. worst day in 35 years. it wasn't just them. they bore the brunt. pain felt across the retail sector best buy and macy's and kohl's all losing 10% walmart and home depot and lowe's extending losses all coming off 6% declines investors throwing the baby out with the bed, bath & beyond water. joining us now is

tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. >>> coming up the latest report from the bureau of labor statistics as inflation remains high plus, the senate votes on protecting abortion rights on the news, minutes away. >> the fact, the truth, the news with shepherd smith next, cnbc >>> take control of your financial future with the new madmoney.cnbc.com. cramer's ceo interviews, episodes, analysis, your sound board. plus special access to "mad money" 101 with rules and techniques to break down the market for all investors >> the red flag that makes you drop a stock immediately. >> it's everything you need when you need it. the new madmoney.cnbc.com. >>> si

tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. >>> twitter shares on the move once again this morning, and elon musk could be in some hot water. late last friday, the tesla founder tweeted about plans to conduct research to determine the amount of twitter users that are bots his team will do a random sample of 100 followers of twitter, and invited others to do the same. musk tweeted that twitter legal called to complain that i violated the nondisclosure agreement, revealing that the sample size is 100 the reason he used that is because that's what twitter used to get some of the numbers with more, let's bring in jay clayton, former chairman of the s.e.c., no

tesla is expected to ship another 4,000 cars on friday following word that tesla was facing production challenges at the facility due to parts shortages and ongoing covid restrictions brian? >> thank you very much >>> let's get back down to the markets and your money, as everybody out there kind of searching for a bottom in the ongoing wave of selling. the worst may not be over yet, according to hedge fund manager l leon cooperman >> the best evidence of bond, a company comes out with disappointing earnings, the stock closes down and unchanged up we're not seeing that at all i would say the stock market is not yet discounted the economic slowdown we're experiencing, in my opinion >> that's leon's opinion let's bring in managing director of securities, annika. good to have you on the program. >> do you agree with mr. cooperman and it's not the bottom in stocks >> he's made a good point. look at q1 earnings, 80% for s&p companies that reported these estimates. if you look at what the s&p has been doing, it certainly doesn't feel that way. so, it's -- there is a huge amount of concern in

that is his term by the way, tesla shares are higher on the news twitter down more than 20% tesla up 7%. more breaking news covering all of this on "squawk box" next we will see you on monday. big breaking news on twitter continues next wealth is breaking ground on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. ♪ ♪ wealth is watching your business grow. worth is watching your employees grow with it. ♪ ♪ xfinity mobile runs on america's most reliable worth 5g network, your employees grow with it. but for up to half the price of verizon so you have more money for more stuff. this phone? fewer groceries. this phone? more groceries! this phone? fewer concert tickets. this phone? more concert tickets. and not just for my shows. switch to xfinity mobile for half the price of verizon. new and existing customers get amazing value with our everyday pricing. switch today. >>> good morning fed chair

people who made money on tesla >> it's tesla's stock he was selling to fulfill his guarantee of raising the money now it comes down. he's got $27.25 billion in equity going in, the margin loan gets reduced to $6.25 billion. what's interesting here, jim, i have a few things to share in terms of what happened >> yeah, please. >> he handpicked these investors and it ranges from, you know, a billion dollars from larry ellison to $5 million from honeycomb, which, by the way, is a hedge fund that invest with him in spacex in 2013 and twitter when it was private. runs the gamut some people wondered this morning where's mark andreyson i thought he would be here he is. a.h. capital management. >> i was going to ask who that was. who is aaliyah >> i don't know. you have bin talal, the prince roming in with $35 million >> motley crew. >> you may have jack dorsey rolling in. >> really? >> they are talking to dorsey about the possibility of him contributing his shares immediately or prior to the closing of the merger. let me give you ka couple thing. he did a live video presentation to groups. morga

>> the f-150 versus the tesla, how do they compare? >> well, two different vehicles, i mean, tesla is a high-performance luxury car. this is a work vehicle for 38,000 you can get the professional version, kind of stripped model, but has everything a carpenter or plumber -- you with ark weld it has 240 and the price goes from 38,000 to 92,000 and it's the same price as the gas car expect you're not using fuel. so that -- you know, the old days, electric version was almost 50 to 60,000 more now it's comparable. and personally, as much as i love my internal combustion engines this has sold me, it's very impressive. >> go ahead. >> five years ago nobody would believe we'd be electric this early. cadillac has got the lyric that's exciting electric, the silverado and hummer all these cars have become more environmentally friendly and everything you hated about a hummer is now gone. >> and a lot cheaper to run. jay looking forward to your new season thanks very much >>> by the way released today the highest paid athletes a lot playing nba and

watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. >>> all right. dr. jay, unusual tell us. >> let's start off with nikola, scott. they bought 15,000, that's 1.5 million share equivalent of the 4550 call that is expire next friday, may 20th. so with the stock right there at $5.50, i joined them my idea is i'll start selling upside calls against it as it moves to the upside. second one, kay web. this is a play on internet stocks in china. back in march, it took it just two days to hit 30, and now swub is betting it makes a similar move here. they bought 20,000 of the june 26 calls with that particular stock or etf trading at 450. third and final, take a look at spy. this is something people are accumulating just below that mike wilson target at about 378 is where they brought these. they expire the 27th

watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. >>> stocks remain sharply lower today off the worst levels for a moment hitting the low intraday level of the week one name outperforming, and that's block, formerly square, hosting its first investor day in five years, making the case it's not just a payments company. our kate rooney has that for us. hey, kate. >> hey, carl block executives want wall street to value this company as a lot more than payments pure play ceo jack dorsey keynote is coming up here i saw a copy of that and what he plans to say here. he's going to talk about the scope of the business and says a lot has changed since the last investor day in 2017 saying according to the embargoed and early look at the keynote we got for cnbc, he said we're no longer a payments company. block is

he took on a harder thing with tesla electric car company and spacex taking on the government. elon musk feels innovative, i don't know if this will be his actual plan at the ends of the day or whether this is just what he is saying today. >> all right we'll see. a, thank you. >> my pleasure. >>> meantime, look at the wos performers on the s&p this morning. about 15% off the record high. a lot of oil in here as energy, at least the s&p energy sector down almost 7% today more "techcheck" in just a more "techcheck" in just a momentvisit letsmakeaplan.org to find your cfp® professional. ♪♪ anr than ever to get your projects done right. with angi, you can connect with and see ratings and reviews. and when you book and pay throug you're covered by our happiness check out angi.com today. angi... and done. in two seconds, eric will realize (laughs) they're gonna need more space.. gotta sell the house. oh... open houses. or, skip the hassles and sell directly to opendoor. wow. when life's doors open, we'll handle the house. >>> bitcoin has been a major casualty of this market sell

last we spoke it was twitter and tesla. maybe you can blame elon musk for taking down the market, but maybe not today. >> no. i mean, this is a whole scale exit multiples and tech are high. we have clients that are basically going to energy, opening trades outside the house like travel, completely away from our sector, and i think what we've been advising clients is don't let it come through and they want to get on the tech guidances and they have to give up so we've had multiple correction and now we need effectively a fundamental correction and the only way we're going to get to climb back into these stocks is for the companies to acknowledge that the climate has changed and that they've taken their pipelines down and that they've reset numbers. until they do that, there is a buyer's strike in tech and they won't come back. so right now it's actually so bearish it's almost bullish that we really don't see a lot of volume on our desk in terms of high touch as it relates to what clients want to do in tech it's turning more

forget about tesla tesla is cash flow positive. it has the money to support its growth in the future i'm talking about the small ev startups, many of which went public through spacs do they have the capital to make it to the point of production and sizeable production? if they don't, they'll have to go back tont capital markets and this is not a good time to go to the capital markets, especially when you're talking about building evs for down the road. >> phil lebeau, thank you. dow is down 761 points s&p below that key level of 4000 and the only positive sector, consumer staples, just turned red. so all 11 sectors are lower. staples and utilities hold up the best but both negative nasdaq 100 down 4.4% look at the travel stocks. underperforming the broader market seema mody joins us. seema, travel companies reported strong earnings and the stocks are getting punished. >> there's two competing things the macro and the bullish outlook. right now those macro concerns are pushing the stocks lower, despite marriott and hilton turning a

tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. >>> welcome back to "squawk box" this morning, we are live from the world economic forum here in davos, switzerland, and joining us right now in the alps to help talk markets and what it looks like surging inflation, scott minerd is here the global chief investment officer at guggenheim, and he has been warning of, quote, a summer of pain ahead for stocks. scott, thanks for putting us in a good mood this morning >> well, you know, i'm always an optimist, andrew >> so you think it's the summer. is it just the summer, or is it longer than the summer because the amount of pain that some of the folks around here are

amazon gets up there it's down again 1.3% it's amazon, microsoft, facebook, costco and tesla weighing on the qqqs, the nasdaq 100 right now. amazon has been brutal lately, down more than 40% from the highs. >>> up next, jpmorgan chief u.s. economist mike feroli, whether he sees a recession on the horizon and what is next from the fed. >>> plus, energy outperforms again and another huge sell-off for crypto stocks. we'll take you inside the market zone, next (vo) verizon business unlimited is going ultra! get more. like manny. event planning with our best plan ever. (manny) yeah, that's what i do. (vo) with 5g ultra wideband in many more cities, you get up to 10 times the speed at no extra cost. verizon is going ultra, so your business can get more. you get up to 10 times the speed at there are lots of choices when it comes to your internet and technology needs. but when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security. and you choose fiber solutions with speeds up to 10 gigs available to more small businesses than any

look at just tesla today tesla is down 6 1/2% okay, the correlation to that is what, where is twitter $37, is that deal possibly happen if the market continues to deteriorate in the capacity it does? i don't think so at all. so i think you have to be careful with a lot of tech names where you see a dislocation of fundamentals because it's really about raising liquidity and selling these names to offset a lot of the financing that's been done against them. >> i keep hearing, jenny, if you're going to buy technology, you want to stay with the quality. right? you don't want to -- i mean at least people say who have come on this program you don't want to go into the still high valuation name, even ones that may look cheap down 75% plus or so you want to stay with quality names. like the megacaps, they suggest. the apples of the world and the microsofts and the others like an amazon. how do you see that is because you don't own all of these stocks >> right, i define quality differently. i define quality as cisco systems where there's a lot of positive momentum of network demand or amat dow

>> i think it's been about a hundred dollar overhang on tesla. i think the chance of the deal getting done, they called it 80% poor, now it's probably 90 to 95%. i think this is a positive showing that it's not just musk that's going to run it he's going to have other partners, and i think that's something that's very important for the street all around. a game of high-stakes poker, this is a great move >> the name of the list is binance, which is in the crypto world. what does that say, and i've talked about theiis on the program, the fact that he tries to use twitter and effectively create a fintech or payment platform >> i don't think that's coincidence. i think this is, you know, looking kind of two, three steps ahead. how are they going to ultimately change twitter the easy part for musk was buying it. the hard part will be fixing it. you look at ellison, sequoia, binance and others it shows tea leaves, crystal ball in terms of some of the strategic ideas in terms of how twitter will be transformed. >> what do you make of the possibility, he

tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. when you need help it's great to be in sync with customer service. a team of reps who can anticipate the next step genesys technology is changing the way customer service teams anticipate what customers need. because happy customers are music to our ears. genesys, we're behind every customer smile. the pursuit of outperformance at pgim. with deep expertise to outthink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility

tesla shares fell 7%. the ev maker was booted from the index because of the low carbono vehicles musk says this is a scam we weaponized by social justice issues he has been busy >>> and volkswagen will go for a bid for europcar >>> easy jet reported a loss of 445 million pounds it is seeing strong demand for travel with bookings real reaching pre-pandemic levels shares right now trading below the flat line. easy jet's ceo told cnbc the airline is protected against inflation pressure >> a pent-up demand on this. when you are looking at q4, it is up 15% per passenger in there and the positive with the yield in q3 and versus 2019. it is true to say the cost that is coming toward households and companies for that matter, hasn't really hit everybody at this point in time easy jet is one with of the best airlines out there we are protected for the summer and winter >>> in other news, edf says outages will lead to the 18.5 billion euro hit the french power firm is continuing inspection program after corrosion in

and tesla, it's tech, it's consumer discretionary technically consumer discretionary. th thosal allegations could be down i would point out that if you look at the record highs, at this point, we're down roughly 48% after athe record highs for tesla. weal with see if there's any can kind of a bottom >> with the dow down 500 points. tech stocks with the nasdaq down from its highs and pretty much nothing's been immune. even the stalwart apple has been hit. the next guest has ideas that could pay off in the long run. portfolio manager at goldman sachs asset management it takes a strong, stomach, i guess, to be steering the ship right now. where to you think are the best opportunities? >> thanks for having me on about the most complicated tech-investing environment i can remember and it's an important time to be talking about where we do see opportunities. we are still big believes in most of the tech ecosystem if you think of what's happening in semiconductors and semicap equipment. we think there's tremendous opportunities. we don't have an edge on the macro and clearly

let's take a quick look across mega cap tech names with alphabet, amazon and tesla tesla in particular is rebounding 5.5% to 662 appleal is negative by almost unwith%. still hovering around 139. kohl's is surging on reports that bidders are likely to make offers cnbc learning that simon property group, the biggest u.s. mall manager, is not planning to make a bid elsewhere, aber kraumby and finch and check out shares of valvoline. coming up, what to nvidia, snowflake and splungo have in common they all report after the bell today. we have the action,b the story and trade in earnings exchange next ♪ ♪ - [man] i got my degree at snhu for my family. - [man] this degree is for me. - [man] i did this for my partner. - [woman] my siblings. - [woman] my daughter. - [man] my son. - congratulations, dad! - all right. - [announcer] no matter who you get your degree for southern new hampshire university can help you get it done. with low online tuition and multiple term starts per year. so the best time to get started is right now. visit snhu.edu. facebook's products harm children, stoke divis

tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ as a main street bank, pnc has helped over 7 million kids develop their passion for learning through our grow up great initiative. and now, we're providing billions of dollars for affordable home lending programs... as part of 88 billion to support underserved communities... including loans for small businesses in low and moderate income areas. so everyone has a chance to move forward financially. pnc bank: see how we can make a difference for you. . >>> warren buffett continuing to view the energy sector as an opportunity for him to put some cash to work,

the report says the potential move by the tesla ceo is aimed at tying up less of his own money in the deal. musk previously committed $21 billion to the deal selling $8.5 billion of tesla stock last week to meet the financial needs. speaking with david faber, apollo global weighed in on the musk strategy to take twitter private. >> if you participated, it would be on the credit side. people seem to miss i misinterpg >> twitter and elon holdings are infinitely bankable. the question is if it is a good investment from the equity side, it is what he will do with it >> reporter: the s.e.c. is doubling the size of the staff at the crypto unit in cracking down on the abuses in the market they are increasing the head count to 50 people that will include hiring attorneys and fraud analysts frank, this comes after gary gensler said the agency needed more staff to handle the volume of the technologies. >> silvana henao with the latest thank you. >>> turning attention back to the markets and some historic news from australia. that country's central bank hikes the key interest ratefor the first t

let's go stock number one is tesla. you may have heard about them. they are hoping to increase production at the shanghai, china plant from 1,200 cars to 2,600 per day. workers have to live in a bubble until mid-june due to the covid outbreak tesla is eager to resume production if supply chain issues stabilize stock two. amazon looking to sublease 10 million square feet of space and end leases the excess space includes new york, new jersey and atlanta amazon reported slowing growth and weak profit outlook blaming it partly on overbuilding during the pandemic and stock three is jpmorgan chase. holding the first investor day in two years the meeting comes among cr criticism over jamie dimon's pay package. shares are down compared to the big bank index. >>> on deck, a look at what some may call the reverse wealth effect and why the fed may be counting on it to try to crush inflation. we'll tell you about it coming up ing up half the night searching for savings on your prescriptions? just ask your cvs pharmacist. we search for savings for you. from coupo

owner when tesla was one tenth the price. they still made fortunes our main distribution ispublic equity and real estate which are the two top areas. real estate has always been king oddly enough in the first quarter, public equities before the market fell came our largest asset. my guess it will fall again and private equity is a longer-term investment those three, private, public and real estate add up to over 70% that's a pretty long-term risk-on confidence in the economy. it is true that they think there's recession in the near-to-midterm, but still long-term confidence what you do is have low fixed income, we never had 6%. it used to be 12%. that is a concern of inflation and interest rates and high cash our members run 11% to 12% cash so they are not forced to liquidate at the wrong time and have dry powder to make a bet when something looks attractive. >> especially with the more liquid investments like real estate and private equity. can i drift toward the real estate side of things? we know the real estate market is

>> well, he's clearly bored, doesn't have a lot to do he's got tesla, a very boring company. he's got the very boring company. spacex, not interesting, shooting these rockets up and running the global satellite system and then, you know, he's got neurolink where not only he's trying to bore a hole in the ground but bore a hole in your head and suck your consciousness on i think he's one of the most incredible, exceptional entrepreneurs of all time, maybe the most exceptional entrepreneur of all time fascinating to see that he's so interested in this asset. >> is it a good asset? >> well, i've always liked the asset. and my investors asked me not to buy it so i didn't but i've always been an admirer of the brand, the asset, the technology i think it's a great company. >> elon is a genius as marc benioff said one of the best entrepreneurs of all time he's paying too much for twitter. i think the fair market value of twitter in my humble opinion is $25 to $30. >> that's a long way off from $54.20. >> yes, it is. >> maybe one reason that wedbush said earlier in the week that $54.

tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..." "i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. >>> welcome back to "squawk box. after the bell today, disney's going to be reporting second quarter reports, and wall street will be watching those disney numbers closely. joining us right now, sarah fisher, media reporter at axios. i want to say is this a make or break quarter, but tell me what you think the distinction is going to be. as we've seen the multiple on netflix come down, it's impacted every other media company, disney specifically as well. and if disney has anything like this kind of issue, i think it takes the whole sector a leg lower, no? >> i think so. but the thing to remember is disney is a d

the details and what's happened to tesla's stock since. >>> president biden travels to asia. >> so much of the future of the world is going to be written here in the indo-pacific. >> the push against china and why two secret service agents got september home. >>> gun violence he is sclescale in chicago the move the city council made today to keep teenagers off the streets at night. >>> what to wear the post-pandemic dress code for the office. >>> re"inventing anna. the fake german heiress starts a side hustle with prison. >>> and how to say happy birthday to the last surviving tuskegee airman. >> live from cnbc the facts, the truth, "the news with shepard smith." >>> good evening after weeks of sell-offs, stocks dipped in and out of bear market territory today. the major indexes all rebounded after the dramatic midday plunge but growing concerns about inflation, the war, supply chain issues, 401(k)s and a possible recession clearly have investors on edge. at one point today the s&p 500 dropped more than 20% off its peak four months ago that's what analysts consider the threshold for a b

phil lebeau, only tesla is cash flow positive. many start-ups need capital. where are they going to get the capital? >> that's why we have used carvana as a cautionary tale. >> oh, man. >> as jonas of morgan stanley said last week you need to raise the money when you don't need night they did get multiple billions in. they saved their situation that doesn't mean you can -- used car prices are down substantially from january still up from last year but the decline is substantial. >> the index is down 6.4 from january. the biggest drop in the history of the index. >> in the history of the index. >> it is going to feed some disinfligs. >> it is the cpi, overweight in cpi. tyson, all the foodstuffs are down, except for prepared. we don't have chemical deflation. -- i have -- -- on, they are building plants. people are responding to the higher prices. ford has chips to be able to make 150s. mary barra says they have chips to be able to make their new line, the cadillac if demand could switch from travel to goods it would be good >> but it is going in the other dir