just today, alibaba, they're up 7 to 8%. alibaba on pace for its best month since november of 2015 so, some interesting moves in the stock market as we try to understand what's happening on the ground >> and also, commodities, the eu sanctions on russian oil and possible price gaps are supposed to kick in on monday if china does reopen and start buying a lot of oil and gas again, watch out above seema, thank you >>> all right, on deck, check out this chart of the xle. it's an energy etf versus crude oil over the past couple of months energy stocks are up 25%, while energy itself, oil, has gone negative what's behind the divergence bob pisani and i will discuss and debate and scrap, and fight over this. seema mody but first, do you think the fed is messing with your mortgage by hiking rates wait until you see what uncle sam will do with housing for the first time ever? you may not believe this, but it's true. by the way, eight minutes, seema, do you want to help me? 48, 47 -- to jay powell. right back right after this. at adp

alibaba's founder has reportedly been living in tokyo for nearly six months. he has been keeping his public activities to a minimum while still pursuing business interests. the 58-year-old has kept a low profile since his criticism of chinese authorities. that is a look at first word headlines. yvonne: the latest on crypto. sam bankman-fried said to speak earlier today. -- wednesday. what are we expecting and will we get answers? >> sam bankman-fried is on the schedule for the new york conference. there's still time for him to be a no-show. there are lots of things he could be given detail into, including how did ftx end up with an $8 billion shortfall? he did not really have a lot of clarity. perhaps he could get more details when he is forced to in front of a live audience. there is also the question of if ftx misuse customer funds. we know they receive some customer deposits through bank accounts held by alameda research. rishaad: and, of course, this is a story which is snowballing, this contagion. what is the latest? >> this is closer to home because ther

here the problems are solved before they get bigger than alibaba got up with them on to you by in august, and we have our queens to thank for actually the, the little bit of the political half of it a year. or king pampa is revered in iran go. her remains are kept here in this hut in 80 koga. it's become a sacred place for people to visit. she's known for leading the resistance against the portuguese colonial powers and for championing social reforms and women's rights until her death. in 1930 today though, there is also a village chief caetano de pinion queen. then he pays him regular visits, as his opinion is important to her. after all, the men should also have a voice. in this way, the women ensure that no problem is ignored, and every one feels in kit. yup. and i will not the government in the capital be so seems to care little for the role of the women on iran go. it since it's decreased to katana, not the queens, but no one here pays that any mind zebra luther but then observed that the government in bizarre could learn something from us. man, there the politicians don't listen to

basketball players association both sent out statements denouncing antisemitism executive vice chair of alibaba and nets owner joe tsai also condemn kyrie's decision to post a film it his own saying he was disappointed that he supported the film. but irving has dismissed all criticism even when pressed by reporters don't dehumanizing up here. i'm not. i'm not doing one post. whatever. i want say that and shut it down and move on to the next question. >> it was called for correspondent ryan bass reporting for us tonight. the nets general manager. >> had said conversations are ongoing internally to see if punishment is needed. you heard them on tnt. many been calling for a suspension. unclear if that will happen. but again, a short time ago, we did have that joint statement. they came out with the money being pledged irving saying now he takes responsibility for the negative impact on the jewish community that was caused by his support for anti semitic work. he goes on to say, quote, i do not believe everything said in the documentary was true. reflects my morals or principals will keep you poste

the broader market, as you saw, with alibaba up 10%. a reflection of the hopes that that zero-covid policy will be backed off that does it for us on "squawk on the street. "techcheck" starts now. >> good morning. i'm carl quintanilla with john ford cloud week continues on "techcheck." a lineup this morning, servicenow's bill mcdermott with us, plus the chief executives of hpe and intuit on the heels of their results. those are not the only movers. also the big swings in crowdstrike, workday and netapp as we await powell this afternoon. >> yeah, we got a start with the move in crowdstrike though and the ripple effects in the cybersecurit

now with the use of alibaba, who is a security analyst and joins us on skype from sample. thank you very much for being on al jazeera. i'm 1st of all, our correspondent and samples spoke earlier about 3 suspects. one woman and 2 young men potentially being involved. what is your reaction to that and who do you think could have been behind us? according to my practice, i can't say that the usual suspect speaching cave gusto case fight against terrorism. more than i'm fort use, especially for the project. kate enders actually would use it more inside cities, but it same time on the a month on the sidewalk. so just wanted to use in the usual suspects on base peachy kate. when it comes to the terrorist activities in psycho cuba is this will start not a mansion and on the line, there are also left as extras. oops, from time to time use carrying got some terrorist effects. indifference diesel, still g a. but since 4 or 5 years, balls all their attacks, that are suppressed by the so she thousands agency on the security forces. for that reason, they almost minimized their capacity

i'm hashem, alibaba. russia has put out of the only major city it captured in nearly 9 months of war in ukraine. i some fell in early march a week after the invasion began, but ukrainian forces have made rapid advances in the last few weeks. ah, people in the city cheered and raise the ukrainian flag on public buildings. president vladimir put in formerly annex the region in september, in a mood condemned internationally. a spokesman insists the kremlin would still recognize hassan as part of russia, but ukraine's president says the region is back in ukrainian hands, calling it a historic day. mr. harrison teacher, gar hassan residents have been waiting. they've never given up in ukraine. of hope for ukraine is always justified in ukraine always returns its own jap, which are grandma. i want to make a special mention of those russian soldiers, mercenaries, and collaborators who were abandoned it. hassan and other cities of the south. the only chance of being saved is to surrendered ukrainian captivity. we guarantee that you will be treated in accordance with the law and international

jack ma, — once the richest man in china and the alibaba founder — has largely disappeared from public life since he criticised chinese regulators two years ago. but he�*s reportedly been living in tokyo for almost six months. let�*s cross over live to our asia business hub andjoin mariko 0i. mariko, tell us more. what has he been up to? a huge surrise, what has he been up to? a huge surprise, since _ what has he been up to? a huge surprise, since disappearing - surprise, since disappearing from public life two years ago there have been so many rumours about his whereabouts. he vanished for three months at the end of 2020, and then in may of this year and arrest of another man named ma caused shares in micro beautiful sharply, but he has kept a low profile until now, being seen in the netherlands and spain and according to the financial times he�*s been living injapan with his family, spending time in tokyo and in ski resorts and in tokyo and in ski resorts and in the countryside. i would love to be able to say that i spotted him or that i have got proof, but i have not been able

we have alibaba and tencent reporting. there will be a flurry of news. the direction of travel on covid zero is positive for markets, but markets are hungry for news. if there is silence for three weeks and nothing happens on covid zero, that could send markets lower again. francine: are you expecting a stop and start to normal life? some say it could take a year to go back to normal, and in the meantime how will the pboc and other regulators fill that space? sofia: covid zero cannot be removed overnight. it took months. what happened was the chief executive, when he started his administration, that is on things changed. china has a new leadership in place after the party congress. there is momentum at the top for things to get going. i think any signals on messaging, rhetoric is incredibly important in china. watch what state media says. if they say covid is not so scary and try to change the messaging to change sentiment on the ground, then that could be a positive sign. it will take a long time. a full reopen in china, one year might be on the pessimi

alibaba founder jack ma has reportedly been living in tokyo for the past six months. he has been keeping his public activities to a minimum while still perceiving business interests. the 58-year-old has kept a low profile since criticism of chinese authorities in 2020, preceded beijing's crackdown on tech firms. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. shery: still ahead, rising covid cases in china and uncertainty over opec's upcoming meeting is weighing on oil markets right now. jp morgan joins us later with their outlook. but first, china saying it will boost vaccination among its senior citizens, a crucial step on the path to easing covid zero. we have updates from beijing next. this is bloomberg. ♪ >> we have been recommending for sometime time now, a recalibration of china's zero covid policy. exactly because of the impact it has brought on people and on the economy. it is tough on people. it is also negatively impacting t

we are seeing a lot of pull back for the tech stocks out in hong kong and china alibaba down 4% today. >>> volatility is in the u.s. market the futures are down, but a bit of a clear message that things aren't necessarily moving in one particular direction stock futures with news from china pushing investors away from growth stocks and perhaps to the defensive stocks like healthcare and utilities sticking with the u.s., cleveland fed president mester says inflation will need to ease the central bank is seeing signs price pressure are seasing >> we will enter a restrictive stance policy. at that point, i think it makes sense we slow down a bit of the pace of increases. we will have to raise the funds rate we are at a reason able point now where we can then now be very deliberate and setting monetary policy to get back to price stability and an being more judicious and balancing the risk as the pain is back to price stability. >> and mary daly said the level of tightening in the real economy is greater than the central bank target rate daly said the fed continues to be careful and delib

alibaba surging 9.45%. jd.com is up nine point 3%. yum china up 6.8%. how can we buy into these rumors as chinese authorities are trying to push back. there is absolutely no change in i wonder what the signal is. gmp is being more outward looking, is meeting with foreign leaders. tom: we will have to say, remember sunday evening look for a fruit -- asian coverage. look at paypal, you talk about the tech is down 70% from the moonshot. lisa: we talk about the bubble in the bursting and is their broader ramification or is this an isolated incident. tom: let's speak with tom porcelli from rbc capital markets llc give me the wage dynamic with you right now at rbc? tom: the moment you say things are slowing down, people start saying collapse, i don't think that is where we are. i am looking at certain nuances and the nuances are that wages are slowing. i've said this many times, i prefer average weekly earnings. i think it's a better measure of wage dynamics. if you want to look at that on the six months exchange basis, year and year is very lumpy right now.

alibaba kicked off efforts to spur demand. haidi: inflation is the key issue when it comes -- or one of the top issues when it comes to american voters heading to the polls. that will decide control of congress and the 36 governors. democrats risk losing a majority. we will also be watching earnings coming from softbank, disney, nintendo. reports will indicate how these big chipmakers are faring under the cloud of washington's curbs on semiconductor technology. kathleen: with us now is george boubouras. from the market reaction on friday, it is easy to understand that you your yield getting up to 4.8%, the reaction from stocks is more puzzling. across the board it is considered a strong report even though wages are slowing down a bit. four fed officials echoed jay powell. why are stocks rallying? george: hello. it is all about the 75 basis points rate hike means fewer hikes going forward. it means the increases will happen at a decreasing rate. payrolls -- a 30% slow down. average early earnings are also softening but in absol

we have moves from tencent and alibaba, moving that index for its best week since inception. we are also seeing moves in the offshore currency, but this is all based on what happens if we actually get some concrete confirmation of a reopening path which was quashed earlier this week and it is not just assets we are seeing in hong kong and china. it is the entire reopening basket. the likes of cosmetic players in south korea are rallying higher today, all of the airlines based on this unsubstantiated rumor. we had a quick look at that chart in terms of the chinese stocks listed in hong kong, the hsc i index. it is now on track for its best week since 2011, all driven by rumors, not confirmed. a lot of analysts out there saying you do not want to be short on this market. we spoke to a guest earlier who was saying it is dangerous to not be in this game and you can see a 50% pump in stocks once we get confirmation of a reopening. united first partners is saying is it is -- saying it is a tug-of-war between the bulls and the bears until we get confirmation of a reopening. manus: y

senator kaine, he invested in a chinese company called alibaba, one of the largest companies in china, a company that does business with the chinese men harry, that helped -- military, that helped the government against its own people. he was called out for a by chinese dissidents who wrote an op-ed piece in the star-ledger, and eventually sold that stock, prism a blue because he was shamed into doing so. i know that republicans want to make this an issue for me, but they are running the wrong guy against me to make this an issue. >> what is clear is this is a repeated behavior of tom malinowski. he ignored the rules because it did not benefit him. it took him over a year to sell the stocks. that is the repeated behavior now. in washington, d.c., for 30 years, he's doing it again. he's hiding from the voters the fact he violated law to ban investors of congress for insider trading, and is not being transparent with voters. that is what this issue is about. ethics, not transparency. it is a repeated action by tom malinowski. he has one standard for himself and another for everybody els

alix: here we get housing starts, earnings from alibaba, burberry and applied materials. macy's and gap coming in off of target. we will see what the numbers say. guy: absolutely. i'm wondering whether macy's is doing relatively well at the moment but it will be interesting to see. but talk about what elon musk is up to now. testifying in delaware court at the moment over a low stash lawsuit on his tesla compensation plan. ed, is this really about whether or not elon musk is good value for money. >> it all relates to his 2018 compensation plan which is been dubbed the moonshot compensation plan. within 20 million stock options which would give it a total value of $55 billion. the lawsuit was filed by tesla shareholder who holds just a few shares and his argument is essentially that the board when they made this compensation award in 2018 did not act independently. that muscat influence over them. and that he was a part-time ceo. for a long time he's had association with the leadership of other companies including space x, more recently twitter of course. mosque is on the

alibaba still faces a lot of competition. its earnings wasn't as good as they have been in recent years the fundamentals haven't changed all that much. and then the beijing wild card, the thing investors have been worrying about for the last few years. that is, are they getting too big? how much data are they getting is that dangerous to beijing are they going to continue to clamp down on that that hasn't really changed maybe the government it looking at different things at the moment any bit of optimism investors are latching yoen to because i showed you that chart from the end of 2020. these names have been beaten down so much, valuations have become attractive if you have the risk appetite. key there, risk appetite investors latching onto any little thing even the fact that as there's so much uncertainty and unrest in the country itself, maybe that's going to lead to relaxation of policies we haven't gotten anything super concrete there either. we should note as well, though, foreign investors that were certainly burned in

then we get macy's and kohl's and gap and alibaba. numbers aon housing starts. on friday, we close out with reports from jd.com and foot locker and elizabeth holmes will be sentenced >>> and more on the busy trading week ahead, let's bring in tiffany mcghee she is a cnbc contributor. great to see you, tiffany. we are starting this monday with futures in the red off the softer than anticipated cpi report talk about how you are looking at the portfolio going into the week of november 14th. >> yes, listen, clearly it has been a really crazy year we have the crazy market down turn and everybody is feeling it across the board paying attention to portfolio positioning going forward, we will be in the situation although we had softer than anticipated inflation reads. we will be in the situation for a while, cpi and ppi is a lagging indicator. it will take a while for things to catch up and for them to see that trend one of the things i'm looking at is investors early in the year is buy the dip that will not get through the next 4 to 6 months and into a next year. the q

tech names coming under pressure with jd.com and tencent and alibaba under focus today. the red spillage has knock-on effects. japan is down .40% we focus on the weakness of the yen. over here in europe, it is similar. a lot of red ftse 100 down .23% minors in energy and any company with commodities exposure is under selling pressure dax is down 1% also volkswagen came out and said production in one of the chinese factories has been disrupted due to the flare up of covid. this is the theme coming up. cac in france is down 1% watch out for the luxury names with hermes and lvmh with a lot of exposure to china as well today is definitely a risk-off session of what is happening in china. seema. >> joumanna, on that note, to our top story. unrest in cities across china amid countries over increasing covid lockdowns and restrictions in an unusual show of defidefia democnstrators are calling out for xi jinping to step down. we have eunice yoon with more. >> reporter: it is rare to see them in so many different cities, seema. the security is extra tight today here in beijing and

as are october housing starts and the philly fed survey alibaba reports along with macy's and bj's and kohl's and c gap out after the close. a half dozen fed officials speak today. atlanta fed president bostic and then bullard and then loretta mess after and neel kashkari and then phil jefferson this morning. then chairman jay powell gives a toast to charles evans who is retiring next year a lot of fed speak let's talk about the markets and what it all means with the markets coming off the second negative session in the past three. let's bring in victoria fernandez. victoria, i reeled off fed speakers and earnings reports. what is the most important thing in the market for you right now? >> i think you could have a busy day, dom, if you do nothing but listen to fed speak. you will hear the same story over and over. the fed is telling you that, yes, cpi was a positive number for them it is telling you inflation has probably peaked. you look at longer term inflation expectation which are well anchored. you look at import prices that are declining and supply chains are doing better all of

mentioned china, they're not necessary taken down china -- chinese equities pin duo duo, up about 1% to 2% alibaba is up 1% as well there's at least a developing story, a tug of war, if you will, whether or not the unrest in china could present a poten potential buys opportunity. >> dom chu, let's get to that. highly unusual protests breaking out in the country over the weekend as demonstrators vented the frustration with the government's handling of the covid-19 and the so-called covid-zero policy, despite the insane policy, which obvious included locking people inside their own homes, covid case are soaring. three years of strict control has put major stress on china's economy, no doubt its citizens' mental health and ramifications are being felt all over the world. even apple is being impacted protesters revolting at foxconn, an apple supplier. it's not more clear, how will china proceed? we'll ask derek scissors, the senior fellow at the america enterprise institute being forcibly locked in their homes for nearly three years, unable to see loved ones who are dying in the hospital. humanitarian

tencent, alibaba, all of them rallying at least 6%. it's not just attack it, we also have financial firms rallying as well. a lot of volume has been coming to these exchanges on this rally, perhaps that why you see hk exchange rallying some 4.6%. so yes, a big rally, but it is coming from extreme lows. joining us is mliv strategist mark cudmore. what do you make of this euphoria in china shares? mark: i believe it. i know a lot of people are suspicious but that is part of the reason why i think we've seen a massive turning point a couple of weeks ago. pessimism was so deeply entrenched. valuations have not been seen in these assets inwardly, hong kong stocks the cheapest ever at the end of october after the worst month in many years. this is a market that wasn't discounted, very pessimistic and we've had a number of positive pivots. we have the fact that xi jinping is focused on the economy, reopening, rescuing the property sector, and then to cap it off, the big narrative the last few years is china isolationism, pulling themselves ou

a fear amid reductions, consumer stocks are hit you have names like sands china and alibaba and yum china all down let's bring in eunice yoon with the possible lockdowns again eu eunice, is this the situation where the government gets more strict this time around? >> reporter: beijing has been in an effective shutdown since the weekend with most businesses shut and schools online. this is after cases reached about 2,000 in the capital in the past two days. reported its first three deaths in the past six months the situation is worse in export hub guangzhou with 9,000 new infe infections the city imposed a five-day lockdown for the most populous district they reported a silent mode which is effective shutdown for the rest of the city a lot of people watching might be wondering how this all works with the fact that the government here had made announcement saying they would have a more targeted approach of what they call opt myimizing th zero covid policy. they did the pass mass testing y the state media saying that the solution should avoid a one-size-fits-all approach what investors need

tencent as well as alibaba i'm happy to bring in the head of international from crane shares great to have you back with us again on "street signs." so much to talk about today. i want to start out with the g20. the bilateral meeting with president biden and president xi people are saying this is not ushering in a new era of relations, but putting a floor on the state of the relationship right now. what is your perception and how significant do you think this bilateral meeting was? it did go on for three hours >> i think the fact the two most influence al ing leaders in thed have met in person and like you said met for three hours the topics discussed at the meeting are all front and center for each of the countries. this marks a significant step to reconfirm the two countries on the constructive side to build a good ripaelationship among themselves regarding trade and geopolitical issues and how they have a common agreements or common recommendations on foreign policies most importantly to me, from this meeting, they have followups for the senior level officials to meet at the next s

i mean, the fellow in took a look at the div alibaba casa, not so lot. there is certainly just not even to look at quill over use in diesel. krista. yeah, i'm mastercard. he brought it believe okay, you're flagrant us. last rather i think there's out be the rest of my, me know, mom that whatever it is you're calling. because shave open, we step out. we're starting soon. if we're seen sick, what it's chris shavelle mother. we need let me update our daughter sent to start the whole thing. yes. ignore all i need to be on t porter told me shot i priced. i said she got another facility for the report that gets him your father gets of a a florida have a good machine when you come chat a little fault, she said, all jeff cutting loose, jani giovanni stuff pretty much january separate by been make that she's all like i'm order it we need erotic to clean my most to for thomas toll deep out he thinks she'll a shit on this or gave me recently. bible could be on chava to post a quick survey. if centos, what do you see? i'm up until jump about or the so i don't know,

similar restrictions being lifted, eventually not right away but that has got shares of, for example, alibaba, which is one of the bellwethers, up almost 10% this morning you do have, carl, a lot of the financial services executives were in hong kong for a conference during the week david solomon, james gorman, this financial summit in hong kong, they're all coming back. >> schulz said, look, we're going to get the biontech vaccine for expats, we're going to talk about getting a broader path for the broader population. xi saying china will continue to open up and pursue win-win cooperation with other countries. >> win-win-wynn. the casino is also up. >> it's not w-y-n-n. >> it's not steve wynn >> little casino joke. >> i got that. >> that would be big as david said, reports they may say shorten the time you need to quarantine if you're a foreign traveler ten days, may be seven or eight. >> well, most of the people i deal with are saying it's not until march. i think they're being too conservative as you look at the fact that, look, when the chancellor of germany comes to say, listen, maybe it

. >> now, last week, we didn't have -- we had significant rally in a lot of china-related stocks alibaba reported earnings as well the indexes we look to had a very good move, in part because there have been a series of things out of china that indicated they will loosen over time, the covid restrictions, and yet, of course, people wake up this morning to see the first related deaths since the shanghai lockdown, as you point out, and even though they have numbers that are far below our own, much more stringent i mean, you've seen the gdp numbers out of that country, what it's meant. >> we have a better gdp than they do. i think that they have a chance to be able to reignite their economy, but they have to swallow pride, and that seems to be something that president xi does not want to do. but eventually, let's say there are more apples. people trying to maybe second source to here the companies that we -- that i deal with that do a lot of business in china are just being crushed. i mean, just -- look at nvidia nvidia's quarter was not great and one of the reasons why it wasn't great was

i want your opinion on alibaba. >> no. we have enough problems with american stocks. we do not recommend stocks of china that is communist and that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by td ameritrade >>> coming up, hope for the best, prepare for the worst. cramer goes around the horn of any prtg n < >>> we're all worried about the consumer price intext when this consumer number comes in hot, stocks plummet on thursday we get the dreaded cpi reading and so often the case, the estimates seem low on a month over month basis, the cpi is supposed to be up .6% on a year over year basis up 7.9% we have x food and energy numbers at 5% month over month and 6.5% year over year. let me say i don't find this x food and energy basket very helpful. they call that core inflation because food and energy can be so volatile but if you look at what is really hurting the consumer the most right now it's food and energy. they're the ball game. look at the inputs here, they're coming in way too hot. other than chi

softbank with quarterly profit the japanese company notching that profit after selling stake in alibaba vision fund totaling more than $7 billion with write downs in doordash s softbank expecting $1 million in losses on ftx. >>> and gap is selling on amazon customers were able to buy gap merchandise through third party sellers, this is the first time that gap itself is selling its products on amazon this comes amid a series of setbacks as it fights to boost sales. >>> berkshire shedding stake in us bancorp it owned over 53 million shares as october 31st. that is down from 144 million shares at the start of the year. b it did not give a reason for the selling. >>> and eli lilly is not offering free insulin. someone impersonated the brand on twitter eli lilly is in conversation with twitter on the matter. >> this needs to be fixed. >> it really does. another one with more issues we had heard about lebron james. just lots to keep an eye on. >> silvana, thank you. >>> coming up on "worldwide exchange." sam bankman-fried racing to drum up critical funds to keep ftx from collapse. what some o

alibaba leading the decline slower ahead of singles' day. it is a session where you are seeing a little bit of dollar strength. we saw that reflected in the currency. the japanese yen very much in play on a safe haven bid today. u.s. president joe biden has announced that he's is looking to get reelected in 2024. >> our intention is to run again. that's been our intention. regardless of what the outcome of this election was. >> his statement came after democrats put up a better than expected showing at the midterm elections, denying the republicans a so-called red wave. bill ferry joins me here in singapore now. when do we expect more clarity on the balance of power here? bill: we should get news this weekend when the last of the nevada ballots roles in. we have some decision about that race. really until the georgia runoff happens in early december, i think there is still going to be a lot of guessing about whether republicans or democrats control the senate and what that means for the 2024 presidential race. juliette: if we see republicans

there's a nearly 40% gain just this month meanwhile names like alibaba, jd.com and meituan muted this is all ahead of earnings reports from others coming later this week. joining me is the managing partner at msa capital ben, we often turn to you for color and context. we've spoken to you numerous times about whether the bottom is in for chinese tech, can it be investable again. do you feel like we've seen more data points that make that the case oer is there still more downside to come >> i think in the short term we have the bottom. the 24th of october was an irrational overreaction from western markets particularly around the outcome of the central party congress you know, on that day, i think i called bottom at least for the midterm. we've seen movements over the last few weeks that we anticipated as the government tries to stabilize everything. we've seen announcements around the property space, seeing zero covid roll backs things are generally on a positive trend could be in more tub lance as they react to evolution on the ground, but it feels more stable today than it did three

as we're also learning, by the way, from the ft, which is reporting that jack ma from alibaba is living in tokyo for the past six months, which is interesting, too but what do you think about these stocks km >> i hope the news flow comes in and affirms what these stocks seem to be trading on. your guess is as good as mine as to whether the chinese government will back down the protest on the second or third day. historically, they haven't done that >> i'll see you in overtime. look forward to that "the exchange" is now. >>> all right. thank you, scott welcome to "the exchange," everybody. i'm brian in for kelly once again. here is what is ahead. stocks struggling to bounce back, all following monday's big sell-off a lot of worries still hanging over the market including, you just heard it, china's covid lockdowns. we'll get a live report coming up >>> fed chair jay powell looming large over the markets a big speech ahead for him tomorrow bond yields, they're way down. the last fed meeting four weeks ago, as powell is about to remind the markets about higher fo

big earnings movers, macy's, kohl's, alibaba, the stock is jumping today more than 7% and cisco, as i mentioned, higher after topping earnings coming up on today's show maxine waters, the chair of the house financial services committee, fresh off her call for a hearing in the collapse of ftx we will also get they are latest thinking on the fed after she sent a letter to federal chair jerome powell voicing her concern about super-sized interest rate hikes. we have news first to get to on gm steve with the details >> this is coming out of general motors investor day. they are raising their guidance now. this is only for free cash flow. they are saying free cash flow for this end of the year is going to be 10 to $11 billion versus their previous guidance for free cash flow of 7 to $9 billion they are also narrowing their ebit range for the full year it's going to be 13 to 15 billion. it was 13.5 to 14.5. a little bit higher on that end. looks like shares are is slightly positive now, under 1%. sara. >> steve, thank you. mary barr will be on "mad" with jim tonight. let's made over to the

. >> thank you >>> take a look at shares of alibaba. the company reporting mixed results for the september quarter. earnings beat, while revenue did come in under consensus top line growth year over year and that is not holding the stock back up over 7.5% and a lot that has to do with the terrible performance of the last 12 months. daniel jung outlining the resurgence of covid, inflation, weakening consumption despite an onslaught of headwinds overseas and particularly in china. satya nadella still optimistic about opportunities in the region shared his outlook in an exclusive interview with cnbc neighbora. have a listen. >> we're very, very bullish about what's happening in asia and we're investing in 11+ regions in the data centers so we are absolutely committed to all of these countries and in china, too today, primarily work to support multinational companies that operate in china and multinational companies out of china are going out. that's really what our focus will remain. >> nadella also calling india a, quote, massive market i

and speaking of spending, alibaba reporting that quarterly revenue fell short of expect asians because consumers -- expectations because consumers have cut back on specking. but profits topped expectations, so investors choose to focus on that share of it, shares up 725%. >>> breaking news, it is the -- 7.25. it is the end of an era in washington d.c. house speaker nancy pelosi announcing that after nearly 20 years of holding house democratic leadership positions, she will put down her gavel and will not pursue the minority leader role. the california democrat said she will continue to serve district 12 when the new congress returns after the holidays, but this comes as the gop took control of the house last night officially when it won its 218th seat in the midterm elections. chad pergram, fox news' brilliant guy on congress, is live on capitol hill on this power shift and the few guessing game, chad -- new guessing game on who's going to take the mantel. >> reporter: that's right. with the house officially calling for the gop, today marked a change on capitol hill. incoming house gop

>> alibaba, this one has been pounding look at the chart. you can see it it was declining from october of 2020 broke out of that. started another declining trend line this was a quarter of the value it had at its peak bye. >> mike? >> app materials had a big bump off the bottom. >> connor and i were talking a little bit before, and we decided, you know, some of these great names run up so much lululemon. >> good advice, connor connor is tim's son. >> connor, what do you think we should do here >> i think we should trade some nike. >> i think you're right. let's trend a little nike. >> thanks for watching "fast money. connor, >>> i am jim cramer. welcome to med money. i am just trying to help you make some money. not just to entertain but teach you about things like this. call me

take a look at alibaba, jd.com, the government-run media in china. they're emphasizing covid restrictions being so muchenned, being -- softened. i'm not trying to be pollyanna, but there's a little bit of a loosening of some of the restrictions as they are dealing with these rare and huge protests across their country. carnival cruise lines, fun ship, right? ash will i -- ashley, starting tomorrow you can buy a bottle of alcohol from your stateroom, only one -- ashley: whoo hoo. lauren: yeah, people get rowdy. i think there's a cap of 15 drinks per person, so they have to monitor safety onboard. you only get one bottle. ashley: that's it. you like it or lump it. very good, lauren, thank you very much. what do you think of this story now? dwayne "the rock" johnson just bought every snickers bar at a 7/eleven in hawaii, but you know what? he's got a good reason for it, and we'll explain. he's explaining right there. >>> meantime, police in san francisco will soon deploy killer robots during emergencies. sounds like a scene right out of "terminator," bu

trading vehicles i'm going to disagree slightly, and i'm not looking to meddle this thing a name like alibaba, we have done a decent job, 7, 8, 35 to 50% rallies off lows we just saw one over the last couple of weeks, traded down to 58 on october 24th i think it traded 86th last week, pulling back now i think you're strategically and tactically looking for opportunities to trade these things from the long side. as an investment over u.s. stocks, i'll take a pass >> courtney. >> i do think one thing you want to consider when you look at emerging markets, they hit a 25-year low recently, and when emerging markets currency come up against the dollar, they tend to out perform the decade after 2001, emerging markets did out perform. a lot of investors weren't this that period. you want it as part of the portfolio. >> ambassador. >> wo two weeks ago, the referee jewels made, since that point, outperformed the s&p by 9% and the dollar is also up, you know, a couple percent off the pull back it's had. i think we're not going significantly lower faster on the dollar but i think the dollar has largely

this continued and un confirmed china reopening story that's lifting these names , popular names like alibaba and then the china daily which is a chinese newspaper, mouthpiece for the government, they are reporting, and i'm scratching my head here, that authorities in the province where foxconn is lifted lockdown s on two-thirds of homes and 90% of businesses are back- to-work, so maybe there's truth to the rumors, and then there's this . this is a second reason, a report that the first round of audits of u.s.-listed chinese companies has been completed and its been completed ahead of schedule so if you look at stocks in china, best week in two years, a trillion dollars added to them. this week alone, so i mean, the chinese market has been over sold and investors are just grasping at this reopening story to come back in and got a good price. ashley: yeah, with a vengeance today, next one border patrol agents discovered eggs of a dangerous invasive species on a ship from china. what's going on? lauren: i almost threw up when i saw these pictures i hope you do not. gypsy egg masses, they can da

reporting that jack ma from alibaba is living in tokyo for the past six months, which is interesting, too but what do you think about these stocks km >> i hope the news flow comes in and affirms what these stocks seem to be trading on. your guess is as good as mine as to whether the chinese government will back down the protest on the second or third day. historically, they haven't done that >> i'll see you in overtime. look forward to that "the exchange" is now. >>> all right. thank you, scott welcome to "the exchange," everybody. i'm brian in for kelly once again. here is what is ahead. stocks struggling to bounce back, all following monday's big sell-off a lot of worries still hanging over the market including, you just heard it, china's covid lockdowns. we'll get a live report coming up >>> fed chair jay powell looming large over the markets a big speech ahead for him tomorrow bond yields, they're way down. the last fed meeting four weeks ago, as powell is about to remind the markets about higher for longer and one more threat to the kmi that is a looming rail strike. the presiden

you've had a number of chinese technology stocks, some owned by famous investors, that have had issues alibaba would be an example of a chinese stock that's had issues. it certainly has been showing some sign of life in terms of the overall health of the market look at where that stock is compared to where it was we get excited when something goes up 5% we forget about when it went down 50% that's the dangers of headlines, right? if you focus just on the short term, you'll have the wrong impression of really what's happening. in our view, china is going to continue to have problems. china is going to continue to have challenges in their economy. not because just covid, but just because of the change in tone from the leadership. president xi is very focused on philosophy he's less focused on money that's just been obvious in terms of regulation they're putting in place you know, yes, china stocks have opportunity, but i'd be careful. china really has structural issues in its economy right now. >> finally, michael, just on overall equities at the index level, it sounds like it wouldn't surprise

. >> one thing that's controversial because it's been beaten to a pulp that's alibaba that stock has been destroyed on economic considerations. however, we're coming off the ccb congress, where it has really consolidated its power, and there's a reasonable chance there's going to be thought in chinese regulatory policy. in the meantime, you still have tremendous amount of demand on the digital economy in china they just had their singles day, it's expected to do 1 trillion yuan, which is tremendous. ba ba trading at ten times earnings is going to get some tremendous benefit just from simply modest growth going forward and easing of chinese regulatory regulations all of that drives it as far as earnings go because i think the yuan has really bottomed against the dollar for the near term if i'm right about the fact that the dollar has stabilized, it's probably going to decline against the yuan, you get the tail wind. that's an interesting oucht of e box pickup starbucks is going to put up one new starbucks every 15 hours for the next five years in china that is a huge bet on the fact t

alibaba comes to mind. the government isn't going anywhere? >> i think some people held the hope early on we could cordon this off, firewall in place, stop the data going back to the ccp. stop bytedance, beijing from getting it. all the reporting there is simply no firewall in place. these employees in beijing are essentially dual hatted, working for beijing, working for tiktok, according to reports. as a practical matter at this point time to say we've seen enough. we need to end this long inquiry into tiktok. i think it needs to be resolved with a ban. ultimately that will be a call for the treasury department and cfius. i'm just bringing my expertise to bear from the fcc where we deal with data flows into china all the time. huawei, zte, other entities. neil: cfius is council on for ininvestment in the u.s. which polices such matters is the group you're referring to. there are a lot of kids who use this in the country. the argument you always hear, commissioners, the genie is out of the proverbial social media bottle if you will. that it wo

crushing it for the second straight day up as you see another 6% followed by everyone to tok baidu, alibaba, everyone in the green so why can't u.s. markets scale the flatline? apple is a big part of this problem. the video from last week shows how apple is heavily exposed to the china protests through its largest assembly plant. foxconn's iphone city as it's called. chips which yesterday took a 2% hit, continue to head south folks look at this right now down 2.5% for apple. they are now down more than 7.8% for the month. as workers have fled oppressive covid restrictions wedbush analysts are predicting apple could face as much as a 10% hit to iphone production this quarter and noted apple watcher, tf international securities analysts tweeting that iphone 14 pro and the i 14 pro max shipments could be between 15 to 20 million less than expected. apple suppliers getting hit by the phantom pain at this hour so we're talking about names like western digital, broadcom, sky work solutions, qualcomm, but china is not apple's only problem. to connell mcshane and the apple elon musk spat developing

mean, i think you can make a great, great argument for, you know, trip.com, but ecommerce plays, like alibaba and jd and pin duo duo. i think also just in general, as this opening up happens, your investors are going to really underweight to china and i think, you know, removing this potential risk on the economy that clearly they are doing this in order to get the economy going. you know, i think that really behooves a re-rating of chinese equities >> yeah. >> brendan ahern of crane shares, it's been a good month see what happens overseas. brendan, thank you very much >>> all right. coming up, something just happened in california and it's sending solar stocks higher on the week not today, but higher on the week can you name that mystery chart? we'll get the name and the we'll get the name and the story, next. now ports can know where every piece of cargo is. and where it's going. (dock worker) right on time. (vo) robots can predict breakdowns and order their own replacement parts. (foreman) nice work. (vo) and retailers can get ahead of the fashion trend of the day with a new line tomorrow.

those shares flying, up 5.5% for alibaba. baidu up 6.5%. i am looking at for ari, one of the main stories of the day. those shares down point 5% after the resignation of the team principal, who has been there for a long time. a leader. jonathan: very on to one team. fantastic car, superfast, terrible strategy. they should have dominated the first half of the season. you saw so many polls that didn't converted into wins. i am hoping for ari will turn it around -- for ari - ferrarri will turn it around. i hope we get more turnaround into national football. lisa: you are trolling me on air. jonathan: i am happy we are getting buy-in in america to fall in. that is been a huge change the last few wealth spent -- 12 months. i believe vegas is coming. miami, vegas. lisa: it is a easier crossover because of nascar. jonathan: help people from converting back to formative one. lisa: it is equal opportunity, especially after sports. just trying to make you happy everyday. let's move on. jonathan: [laughter] are you done? you've only got 60 seconds of

lift as well there's the k web etf up 6% and then china's large cap fxi up 5% with names like jd.com, alibaba, pin duo duo. steel, copper, emerging markets all higher as well how much exposure to china should investors have and how much is too much joining us is patrick shibanek economic adviser at silver crest asset management patrick, good afternoon. >> good afternoon. >> so the resilience we're seeing in chinese tech today and yesterday despite the growing protests on the mainland, does that tell you investors are looking past the protests and are sort of banking on a reopening in the economy >> well, they've been hoping for that for some time i think one of the reasons you have a lot of people rooting for a comeback in china is that china's an important part of many indices, many global indices. and so you know, investors have to justify why they are under weight on china if that's what they are so they'd like to see china come back but china's death with a whole host of issues that go well beyond the protests over covid that raise some real risk factors that people need to be aware of >>