emily: microsoft and facebook have announced new workplace products in the meta-verse. what is your take on the meta-verse, and is there a play for airtable? howie: there are two extremes of how you interpret it. one is this virtual space where you put on this headset and go in and you are immersed in this 3d environment with an avatar, etc. there is something to that. i will not dismiss it. there is a lot of promise, but it is probably a long way off before the technology is good enough and there is an ecosystem where we are spending our days living in that reality. emily: you are saying the meta-verse is overhyped? howie: it is about creating a digital represents an asian -- representation of yourself. we are seeing that with other products, lighter weight avatars, other products where you're able to collaborate within this virtual space. the actual 3d vr aspects of the meta-verse is still a while off. emily: speaking of the path forward, airtable has become a bigger company since we last talked. what is the path forward to you? are you going public? are you open to a

everybody said microsoft would never be changed and then apple showed up. there is an economist that coined the term the force of creative destruction and the beauty of the free marketplace is when you open to competition and have this constant turnover and constant change. my ultimate answer to conservatives is i bet you there are some real code -- real good code writers out there. start writing some code, start coming up with some platforms. if you can't beat them, let's -- if you can't join them, let's beat them. let's come up with some good platforms of our own. nicholas: i would like to know what your biggest regret as a public servant has been. mr. pence: to be honest with you, one of my biggest regrets in my life is i did not go into the military after college. i had the idea in my senior year of high school of signing up for the marine corps. i came home with a home for -- and full of brochures and i said dad, i am going to sign up. dad was a combat veteran. he saw combat in korea and came home. he had a metal that he put in the drawer and never tal

it's below a hundred right now it's even below 99 >> i was looking at microsoft and apple, both down session lows 1.5 to 2% it might be interest rates, might be something else. still, "closing bell's" got a lot to talk about. >> thanks for watching "power lunch," everybody. "closing bell" starts right now. >>> a lot to talk about. welcome, everyone, to "closing bell." i'm sara eisen here at the new york stock exchange. red hot inflation translating into red screens on wall street. losses are accelerating throughout the session the nasdaq seeing the sharpest declines as we head into this final hour of trade. down 2%, tech is getting crushed today. >> it is indeed. good afternoon, i'm wilfred frost. let's have a look at what is driving the action rising 6.2% in october versus last year. the fastest pace since 1990. fuel oil prices were up more than 12% for the month speaking of fuel, energy, the worst performing sector today as oil and natural gas pull back, tech also falling hard and evs are a bright spot. rivian surging on its first day of trade after pricing above its initial price

. >> unsung heros of the bull market and the one that is most is microsoft. today wells fargo out saying listen, next to 2.5 trillion, cyber security, operation margins expanding. this is microsoft. >> i love we put up 20 years or 10 years, story. >> i think this is an argument potentially index fund because i think that this is they've put together an amazing team my travel trust owns it. i'm saying it's untouchable. you can't sell this thing. it's too good. >> i mean, market is -- has already historically leaned on mega cap tech, but especially last week, right >> last week was incredible because what happened is that all the money went to mega tech. the nasdaq was up almost every day. the dow was terrible but what's happened there's a group of stocks, by the way, met -- meta does well, apple has broken out to all-time highs >> apple almost equal to the s&p's performance of the year. lagging by a half. >> lagging terribly. next will be amazon. >> made that up in the last week and a half. >> the car >> waze it -- what is it >> microsoft keeps going up and th

microsoft put out more than 1600 notifications to i.t. companies in response to iranian cyberattacks in 2021 compared with just 48 last year. most of the targeted companies are based in india, several in israel, and the united arab emirates. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. amanda: i'm amanda lang. welcome to bloomberg markets. matt: i'm matt miller. we welcome both our bloomberg and bnn bloomberg audiences. here are the top stories we are following for you from around the world. one of the world's leading beauty companies, coty, outlined its long-term growth plans at its investor day. we will speak to the ceo from the floor of the new york stock exchange. retailers vow the holidays are safe from supply chain fears. company earnings are coming in better than expected and some even exceeding pre-pandemic levels. a blowout quarter for nvidia. we will dig deeper into the number as the chipmaker reache

not your big tech names, not apple or microsoft, but those new tech companies that are still growth names. a lot of the ev space still falls in that category. i want to hit some of the tech subsectors. tech underperformed, it really translated into semiconductors, chinese adrs which is tech savvy. the soul outperform her was cryptocurrency, kind of doing their own thing after perhaps an inflation hedge. let's get to the macro story. >> some of the device makers, laptop pc makers, hp, and dell. we are seeing strong demand for both companies from commercial customers, basically companies buying new infrastructure for their work, particularly in the case of hp come up almost 7% in after hours. there was weakness in the consumer side of the business. sales down 3%. hb seeing -- hp seeing supply shortages, and in the quarter they were able to get more components than they thought. the supply chain picture is not going away, not changing. that's interesting home go to retail. look at nordstrom, the report hit after the bell, along with gap. that is a completely different story. look at those st

we have seen microsoft. what fails and what succeeds? >> i think the first thing to keep in mind is what are these companies actually doing today? right now, there is no metaverse. facebook is running facebook and whatsapp and instagram, but they don't actually have a product that looks like the metaverse yet and probably will not for a number of years, so we should focus on what actually exists today and when they have actually built this metaverse, then we can take a look at it. emily: do you trust facebook -- now meta -- do you trust meta to do this? >> it depends what you mean. yes in the sense that i think they will probably build something, but i don't have a high opinion of their business model, which is all about getting people to use a free application or multiple free applications because when you are using the free application, you are essentially contributing labor to their product. you are building their product for free, and what you are selling is your eyeballs. they are selling your attention and your information to adver

but many, many years later microsoft was still missing the internet. do not kill them they are now the second most. >> yes they killed netscape to survivor. >> now that the second most viable company in the world. there is a another company much later than when he wrote your book on the precipice of going for michael bell said what sell the assets back to the shareholders. that company is now the most viable company in the world, apple. which somehow survived thanks largely to the internet and the fact you can walk around that everywhere you go. >> the original sin of apple, i discovered when i was writing my apple book. that story does not fit with any of our preconceptions i think. that steve job convinced to let him design a computer game and nobody at atari believe steve could do it. they did not like him anyway he was just back, he smelled he was obnoxious. and so steve convinces him best friend, you guys are both my neighbors i remember this happening, to design the game. when he was working at hp he would work all night at a target in the first

while they may seem distant microsoft's exchange vulnerability and several significant ransomer ware attac including on the colonial pipeline and jbs happened this year alone. just thist year, the last few months. as a result an unprecedented number of emergency directives and aes alerts and advisories h been issued regarding serious vulnerability in cyberan threat. the past year showed it's not letting up as evidenced by microsoft's recent announcement the same russianan actors behin the devastating solar winds campaign are tryingso to recrea their success. it underscores the fact that tough talk with putin is not a sufficientdi deterrent. things are not getting better and we must n do more. one off my top priorities over the past year is not just to compete against nation state adversaries but win. if we're going to win we need to bolster csisa, making great progress in advancing its mission this year. i'm also planning to build on the success bypassing additional authority improvements this year such as supporting ranking member's bill to make the assistant director a five-year te

and as a journalist i like to see them because they are independent and you know i remember when microsoft made that speech to yahoo many years ago thinking that would be sad if they went away because they are absorbed by another company and then they ended up going away for different reasons. >> the big companies were being immoral starting to lose some of your billion users somebody do you by the next hot company and you just keep going that way and buying up all of those user and sing perpetually young so you have these different apps etc. and i don't think that is healthy for the valley predict the companies need to die and most of the companies in this big score, they are gone and tht there was a good thing because we constantly need to refresh with new talent and new companies and new ideas and it said right before just going to have a handful of gigantic companies that absorbed everything that opposes a potential threat, this is not ngthe valley anymore. >> known because of social media, the these days a lot of young techies especially the founders complained to me because of social

microsoft, really the best example of what a nonfounder can do. the growth of microsoft as been incredible from being a has-been to returning it to a global tech power. dorsey seems to think that twitter is ready for the transformation by appointing a non-founder to ceo. i posted a interview from long ago to my twitter. seemed appropriate. >> always looking at your throwbacks. >> it's fun to see as people explain companies that now you totally understand what they are. >> yeah. >> yeah. >> right, i mean, we were here before twitter and -- >> yeah. >> look at them now. they have grown up some. >> 5:15 right now. >>> happening now, it's giving tuesday. the actual tradition held on the first tuesday after thanksgiving that encourages giving to charities and non-profits. before you go out and give, there are steps you can take to avoid from getting scammed. also, don't rush into a decision. last year's giving tuesday report, americans donated $2.5 billion. >>> trending this morning, elton john and ed sheeran teaming up to spread christmas music for al

a food fight between microsoft and amazon. how much does this move google into a position other people have discounted them. trading on cme, shares up 5.5%. the more interesting activity is google, you are seeing shares up on the news because people are looking at the potential for the cloud to gain more dominance. tom: it is a start free thursday, but if google could invest -- lisa: i will not start that rumor. tom: is never a dull moment. never forget humility as the chairman mentioned. i was wrong on bank of england. it was fascinating. stay with us through the day. small caps up. we have a countdown clock to the open on tv. ♪ jonathan: from new york city for our audience worldwide, record high after record high. your equity market up six points , advancing .1%. the countdown to the open starts right now. >> everything you need to get set for the start of u.s. trading. this is "bloomberg: the open" with jonathan ferro. ♪ jonathan: from new york, we begin with the big issue. chair powell threading the needle. >> power-on

everybody said microsoft could never be changed, and then apple showed up. there is an economist by the name of joe's and show peter, who coined the term, the fourth of creative destruction. the beauty in a free marketplace is that when you open to competition and have this constant turnover, this constant change. my ultimate answer to conservatives in this freedom generation is that i bet there is some real good code writers in here. start writing some code, start writing up some platforms. if you can't beat them, let's join a, and then let's beat them. go out there and create some big tech companies of our own. >> hello mister vice president, my name is nicholas. i would like to know what your biggest regret as a public public servant has been. >> to be honest with you, one of my biggest regrets in my life is i did not go into the military after college. i had the idea in my senior year of high school of signing up for the marine corps. i came home with a handful of brochures. i sat down with my dad and i said dad, i'm going to sign up. that was a combat v

microsoft surface devices, orchestrated by cdw. they adapt to each user and deliver multi-layered security, so your workforce gets seamless experiences wherever they roam. for devices that fit your unique workforce, trust microsoft surface and it orchestration by cdw. people who get it. the outlook came in. rdblox, 30%. affirm, 28%. thankfully, to be honest with you. they are not in the s&p 500 benchmark. otherwise, i would have to pay attention to them. a small piece of the market overall. if you want to play in those names, go for it but those are not trading on real fundamentals. but to move in these kinds of ways is really -- it's a little disturbing i'm paying attention to it, brian, but it is not something to invest in >> no. it's gambling. or it's guessing even worse gambling, you might be able to put the odds if you buy a stock and it falls 30% after hours, there is something to be said somebody said what's the bull case for stocks, that's my friend and that's kind of how he sounds the market has been cut by half even more

. >> microsoft is making some big acquisitions. what do you make of these competitive moves? your competitors say they are on the right side of history. are they? >> i look at the fact that there are 3 billion people who have access to knowledge at their fingertips. i look at the opportunity we provide. i look at the skilled people are learning through youtube. i feel it everywhere when i going talk with people. providing access to people and knowledge would be on the right side of history as well. emily: eric schmidt told me that he feels the latest facebook revelations are disturbing. google also has access to massive amounts of our data. why should more than half the world's population trust google to do the right thing? sundar: we are trying to do more with less data. one of the biggest changes we made was making auto delete the default setting for new users. now users have the data constantly being deleted. we rely on trust for people. every day when people come to google, they place their trust in us and -- in vulnerable moments. be it a health issue that they are tryin

i expect that to continue to work microsoft is in a land of its own, showing us 45% margins. expect to see margin pressure. google has given 1500 basis points of margin expansion since second quarter, 32% last quarter. when you talk about pricing power, what we're really talking about in this environment is ability to maintain margins. the market will be focused where we are seeing market degradation. >> let's back up for a second, talk about where you think inflation is going because you have been in the camp saying janet yellen said 3% this summer, you were saying more like 6 where do you think we'll be middle of next year? >> right i don't enjoy being right on this forecast. i was certainly not in august when i called for 6% cpi this year, and 5% pc this year, see if we get that later in the month. 5% cpi all the drivers are still in place. we still see shutdowns and disruptions at the manufacturing level, in some part due to low vaccination rates at some of the manufacturing companies like vietnam and indonesia. still see capacity constraints in terms of shipping with the

with backing from microsoft and palantir, we were already the market leader in the u.s.. we intend to be the market leader globally. alix: real-time, are people moving around right now? richard: from less than a minute ago, 77 vehicles are moving around new york. we receive up to 450 data points every second, so we can see intersections, traffic light changes, so the consumers are in control, the drivers are in control with what they share with us, but we are helping the city be safer, reducing congestion in real time. one of our key partners is microsoft. we are helping them improve their mapping product. guy: in terms of what is going to happen next, this feels like it has been easy week -- has been ev week. we had the whole story about rivian, lucid, we also have seen the infrastructure bill going through. that is going to be huge for the united states, and is certainly going to turbocharge what is going to happen. what is the impact of this going to be on mobility in the united states, the acceleration of the ev story, and what does it mean for your business? richard:

microsoft closing in on 340. illegal migrant applications at the southern border surged compared to the same time last year. bill, is that the highest october number ever? >> uses in the number is not surprising because once again we had quite a bit of activity where we are standings this morning. we will get to the video and show it to you. we shot this this morning. 200 migrants showing up in la jolla, texas. they cross illegally, they give themselves up, mostly family units. they walk down the road, look at this other piece of video we have from the air and the ground and once they cross illegally they walk around the incomplete border wall, it is called military road and they are in smaller groups, they arrive at this ballpark and this is where they turn themselves in but it is not just these family units costing illegally, there's the runner element, this started at 5:30 a.m.. look at this video we shot of a group of 30 runners who were apprehended by border patrol, single adult men, single adult women who d

you can't look at microsoft and colonial pipeline and get anything but a sense of urgency. we are powerfully motivated to defend the nation. and we are working at it every minute of every day. >> this question will both through -- go to both. integration of new technologies exposing new technologies with cybersecurity, how are you working with the administration and says that to -- cisco to keep -- cisa to keep focused on nimbleness. quantum computing and others are just a few of the challenges. you understand the concept, which is one all things go awry. >> thank you very much for that question, congresswoman. i think that's a very important dynamic. in the earlier question you said that as opposed to something responding to the transgression, we need to establish our own initiative, we need to reacquire a sense as to what we want this domain to do or us, not to us to achieve that. technology, innovation, and best actresses -- practices are places where the united states can and must lead. the technology issues will play a critical role. and an american innovation will mak

lisa: i do think it is interesting there is such bifurcation between the likes of google and microsoft and, for example, amazon, which really lagged behind. there was a huge divergence within the tech giants. i do wonder how much this is actually generated by something real like the cloud, like true adoption in a transforming economy versus just a rates call. i am not clear on that. jonathan: what about the dispersion and some of the retail names? walmart has done nothing all year. amazon has done nothing all year. then you have home depot up 70% you to date. tom: people that are parsing this, you are always going to have winners and losers. the question is why. to me, it is the battle with amazon in the perception that some of these companies are doing better against amazon than others. jonathan: just quickly, your favorite hotel, the ned in london, they are opening an outpost in new york city next year, according to open with the new york times -- according to "the new york times." he's just obsessed with it. there you go. equity futures unchanged. from new york, this is bloomberg. â

microsoft is on the back end to leverage the infrastructure. i think we'll see the same you have conversations with how many metaverses will there be? it's unlikely we'll have one universal metaverse that's intero intein interoerpable across the board so i think it's very real. i think this is long-term in na nature this is not something that's going to happen overnight, the montization is not going to happen overnight but the investments associated with it are absolutely real. >> i would like to tilt away from the metaverse we know what's going on there. the upside momentum is there i had mentioned some of the big payments provider s and payments networks as being extreme underperformers over 2021. there was a time when payments in fin tech were front of mind for many tech investors, i think paypal, square, yet they've both under performed immensely. is there a value trade in your mind >> fin tech has been the most difficult sub sector year-to-date the market is on all-time highs and the fin tech names you highlighted they're underperforming w

was born everybody said microsoft would never be changed and apple showed up. as an economist by the name of joseph, he pointed the term force of creative destruction and beauty in a free marketplace is when you open to competition, you have this constant turnover, constant change in my ultimate answer to conservatives and freedomto generation, there's rl quick code writers in here i'll bet, start writing code coming up with platforms can't beat them, but join them and then peter. create big tech companies of our own. [applause] >> hello my name is nicholas. i'd like to know your biggest regret. >> to beo honest, one of my biggest regrets in my life as i didn't go into the military after college. i had the idea my senior year in high school, signing up for the marine corps, came home with a handful of brochures, i came home and sat down with my dad and said going to sign up. mike dad was a combat veteran. he saw combat korea and came home with a metal put in the drawer and never talked about like most combat veterans. my dad looked atos me and it was 1977, if t

the rise in yields putting pressure on tech, facebook, amazon, apple, netflix, microsoft and alphabet all closing lower. the bond market is closed today for veteran's day, but the stock market is still open. disney returns to profit in the most recent quarter but the stock is falling as subscriber growth for disney plus is slowing down. it's the lowest quarter gains since the service launched two years ago. disney says streaming is the top priority as cord cutting continues on traditional holiday networks. and sony has cut production of playstatio further because of p shipping. this latest development comes as the chip shortage is impacting a wide range of companies. back to you. >> tough at christmas. >> tell me about it. >>> a new study by bank of america may make you say oh baby. baby boom is on the way. more millennials are having children. pregnancy tests have grown by an average of 13% since last year. bank of america says the baby boom could help several retailers trying to bounce back from the pandemic. >>> meteorologist kari hall checking our forecast as we inch closer to the

> i might go against the grain here if you look at the united communications as a service and where microsoft seems to be the one that's destroying everybody and teams are rolling through, i think the enterprise market is so strong. i think zoom, too much i think the valuation is not where you're getting too excited, this isn't just a stay at home story. i think it is a platform that continues to grow and i believe there's plenty of enterprise they can compete with microsoft. on peloton, there are problems with that result that were not just suddenly trying to carve out a new demographic, price cuts, this wasn't new to that result, but when they talk about recalibrating fiscal output, i don't know what that means in the context of an earnings report doesn't sound good to me i am happy to be back at the gym. if it is not obvious, i am happy to be back at the gym. >> it is obvious. >> peloton down about 35% today. kind of bad timing on the heels of this. these moves are largely punctuating the trend we've seen it is not the day the pandemic is over, it has been going on as a grind for some time

high quality and maintain the big positions in the google machine and apple machine and netflix and microsoft. you have to continue to do very well and you want to balance that with very large financials that have the scalable theme. charles: speaking of financials the getting hit for the good. tips are pointing to higher inflation but it keeps drifting and drifting. how do you deal with that in your portfolio you like the big financials but the proposition the reason people say that you should own them is because deals will go up and that is not happening. >> i don't think that's a reason why from a fundamental perspective the money center banks and asset managers and the brokers appeal to the cmo scale and i think the regional banks will have a tougher time because of net interest margin being tighter but the big banks will do just fine. by the way i think 2022 is going to be the year of special dividends, huge dividend increases in buyback not only in the big banks in the u.s. but here in canada. it's a major theme as they return capital to shareholders and that will work out well for thos

it was a microsoft streaming event this week that had a very curious start. >> raymond: they practically apologized even for the land they were standing on, laura. >> we want to acknowledge the land where the microsoft campus is situated was traditionally occupied by the sammamish, snoqualmie, suquamish -- >> i'm a caucasian woman with long blonde hair and i go by she/her. >> i'm a caucasian man with glasses and a beard. i go by he/him. >> raymond: this was such an education for me. i think i will begin every folly segment with i am raymond, i am a hispanic-italian man with dark hair and a blue suit that goes by sire and my lesion and i am standing on swampland once owned by alligators. >> laura: raymond, when you sent this to me, i don't know who sent it to whom, i said this is funny, when did "saturday night live" do this. i actually thought "saturday night live" had gotten to be funny, that they were actually funny. wow, who is this actor's quest market is the real thing. >> raymond: when you are this self-aware and apologizing for the place you are standing, just stay home and let th

microsoft surface devices, orchestrated by cdw. they adapt to each user and deliver multi-layered security, so your workforce gets seamless experiences wherever they roam. for devices that fit your unique workforce, trust microsoft surface and it orchestration by cdw. people who get it. i'll shoot you an estimate as soon as i get back to the office. hey, i can help you do that right now. high thryv! thryv? yep. i'm the all-in-one management software built for small business. high thryv! help me with scheduling? sure thing. up top. high thryv! payments? high thryv! promotions? high thryv! email marketing? almost there, hold on. wait for it. high thryv! manage my customer list? can do. will do. high thryv! post on social media? hash-tag high thryv my friend! get a free demo at thryv.com. >>> welcome back i'm rahel solomon. here's your cnbc news update at this hour. the justice department is charging two iranians with trying to create confusion by intimidating u.s. voters ahead of last year's presidential election the men are accused

the future cash flow is worth less, sforz, apple, microsoft, and nvidia all weaker. >> it might explain some of the selloffwe are seeing specifically in the nasdaq right now, bob >> now to the bond market overall, custom is grappling with the inflation number and a weak 30-ier bond auction rick santelli is tracking the action from the cme group. rick >> you talk about a tail wagging the dog, 5.5 basis point tail on a 30-year bond auction what does that mean, the auction went off at 1.94%. the when issued market was trading 1788 percent, 5.5 bassis points normally a tail at 1.5 is bad. 30 year bond auction was definitely not good. it reached a height of 196 big u-turn even at 191 it is up 11. why the u-turn you can see it in the two year note as well, right now at 48 basis points, up half a dozen. they were as high as 50. i will tell you why. stocks stocks buying treasury, that channel, is in a layup when stocks become a bit nervous or investors a bit nervous holding stocks that is why we see the u-turn. and remember, resteepening of the yield curve as you see, 30s minus twos it skyrocke

we're buying some of the growth in megacap again we saw google and microsoft earlier last week and their earnings were strong on advertising in cloud and as you mentioned apple and amazon, which the market didn't responds r respond to positively with their earnings and different headwinds there. there's opportunities in those stocks when you look at apple and amazon i think ecommerce makes a comeback as we look toward the holiday season and you look at amazon's cloud business still growing really, really strong. i'm buying more of the growth and megacap still. but stronger, overweight on the mega cap brian. >> we have the graphic up next to you and it says meta platforms. hi to do a double take and remind myself it's facebook. i'm going to call google google, i'll never call them alphabet. meta platforms is facebook you say it's like survey says and the thing flipped. anything you don't like, in a police sta place you're avoiding putting money? >> a couple of areas investors want to make sure they're staying in their allocation there. i do still like facebook and that's are an area we're

microsoft surface devices, orchestrated by cdw. they adapt to each user and deliver multi-layered security, so your workforce gets seamless experiences wherever they roam. for devices that fit your unique workforce, trust microsoft surface and it orchestration by cdw. people who get it. ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ >>> good morning, if you are just waking up or just rejoining us here on "worldwide exchange." that graphic is not incorrect. we are seeing a selloff across the board across all asset classes with the exception of treasury bonds across the world as well. we are seeing dow futures down 700 points right now nasdaq futures are down about 1.7% as well all on concerns of a new super mutation of a covid variant that has been identified insof south africa, a passenger in israel getting off a flight has been identified with it as well the

january, 2010 days discuss a vulnerability on windows ten and provides that to microsoft. one of the unique things that we tookgs credit that we did that d you could say why did you do that. i'm sure there will people that will tell you you shouldn't do that. i would tell you the reason i decided to do that is the fact i think there's a certain importance that goes with our technical expertise and we stand behind something to say this is a vulnerability we at the national security agency have found. we've taken that idea and expanded it into how do we do a threat advisory? we have done a number of cyber security advisory in the fbi and dhs and during the product to say these are the activities in the tradecraft that in the issues of vulnerability this is what to select actors have done. the unclassified levels all at the unclassified level. so that is a really important piece of what we've done. let me go to the cyber commons n side. much has been talked about so in 2018, we decided to send a series of teams to different parts of the world at the invitation of our friends

netflix, microsoft, home depot, lowe's, among those companies making record highs in trading today. check them out we'll be right back. >>> welcome back vir biotechnology and glaxo smith klein announcing today they will sell $1 billion worth of their covid-19 antibody drug to the u.s. government vir stock is down nearly 40% in two months as merck and pfizer get ready to come out with their own anti-viral drugs to fight covid-19 so joining us now is george, the ceo of vir biotechnology along with our own meg tirrell meg, over to you. >> dom, thank. george, it is nice to see you. thank you for joining us today on news this billion dollars worth of contracts with the u.s. government dom mentioned the stock move over the last two months i think what a lot of investors are wondering about the antibody drugs now is as the anti-viral pills are working their way through the fda what role do your drugs play, the antibody drugs, when we have easier to take pills for covid >> that's a great question i think the important thing to remember is we had good data last week on an intramusk collar ap

stuart: have you ever done a zoom meeting and/or a microsoft teams meeting? i mean? >> the same day in the same hour? yes. stuart: are they comparable? >> they are comparable i would say also google meet depends do you have a gmail account because it's easy to just push the button on the e-mail box itself so there's a lot of competition with ease-of-use and less friction. stuart: susan thank you very much indeed. the media reports that president biden has told our allies yes, he will run again in 2024. look, he's going to be 82 by then, and if he runs, he will have to mountain under energetic campaign, and he has to say this he's got to say, i'm running. if he were to give the slightest hint that he will call it quits after one term, he has a mad scramble to get in line, a disaster for an already badly- divided democrat party, okay, and it would put even more pressure on the already- embattled vice president harris. what a situation. less than a year into his presidency, there are widespread fears he's not up to the job and surrounded by crisis of his own making, he'

microsoft's linked in is in the process of leaving as well. >>> athletes will soon be heading to china. the next few months will determine if they get to call themselves olympicens the their live. >> one athlete's sport is the biathlon. and her story differs from everyone else's. we have the olympic journey of joann reed. >> it starts before she was born. her mother, beth hiden won world championships and a bronze medal at the 1980 lake placid games. her uncle eric won five speed skating medals. but she went down a different path. the making of an olympian is a complex and individual recipe. for each, a unique combination of training, dedication. and in the case of biathlete joann reed, coffee. hots and lots of coffee. >> there's a really question on whether or not professional shooters should be drinking caffeine, but to each their own. choose your own adventure. >> reporter: but if joann bucks the trend on caffeine, it's just one more way that her route to the olympics has been just that. her route. like the way the palo alto native even came into the sport. already an accomplished s

nasdaq a record high as well, microsoft once again is on a tear yields come down and people rush into tech. >> yes, they go to adobe, which isn't talked enough about. i find it over and over and over again, even before microsoft, of course they have no supply chain issues, no issues. i don't know why the stock doesn't get respect that i expect it to get i don't understand that. >> well, we have -- and we've all pointed to obviously incredible performance >>> guys, something we haven't talked a bit about is spacs. it kind of points to things that are still going on, what was still one of the biggest trends earlier in the year, rather than later -- >> uh-oh. >> you can't resist that don't know if you noticed, there were four termations this deals, double what we saw in october. automatic terminating their deals, talking about market conditions, inflation, and we spent a lot of time talking about the performance overall of spacs, those that have yet to announce deals and those that have closed, including pay safe last week, which i noticed had a three in front of it ever so briefly. ther

if i'm looking at the others, microsoft, apple, google, amazon, tesla, all of those have something that masses of consumers are directly engaging with as an end product and, yeah, nvidia has graphic cards that people buy off the shelf, but usually that is to stick into something else. that is different. maybe needs to continue to go even bigger in his aspirations to create profducts for consumers. >> i think he's got things i don't think that we can understand them yet. they are involved with physics, fluids, equations, speed, involved with trying to solve -- he is trying to solve the world's problems there are very few people who do that he takes a 20 year view. and by the way, i misspoke when i said that he has had no setbacks there was a quarter where he had these terrific cards and they were hijacked by people who were mining and he couldn't tell whether people were mining with them or gaming with them and it led to a shortfall. and he said that would never happen again so now the only people who use their cards for bitcoin mining are people who recognize that the cards aren't as fa

that's not a broad rally all the power is in the tech stocks apple, microsoft, salesforce, it's cisco, it's intel but all of the consumer names, merck, disney, verizon, for example, r all a lot weaker. this is not a unilateral advance that we are seeing as for the rest of the market semiconductors are the strength in the technology sector nvidia is complete round trip. 246 thursday, 214 friday, back to 330 a round trip for a lot of the semiconductors energy is up, there are concerns about travel-related movements as we deal request new variant all of these are nice ounces but it is not close to where they were at the close on thursday. no exactly a round trip for energy finally, melissa mentioned some travel and entertainment stocks. the cruise lines and the airlines are notably underperforming other parts of travel and entertainment the hotels are doing a lot better and the companies that provide live entertainment are outperforming. what this tells you is people are not sure about going on long trips but are still interested in going to hotels even if it is just on a local level. ba

microsoft hit an all-time high today. microsoft down to 332. bitcoin is lower. down to 61,800. 10-year treasury yield is below 1.60. significantly so. 1.56 is the yield there. 10:00 eastern, latest reading on the service sector. what do we have? lauren: much stronger than expected, increasing second month in a row to 66.7, stuart. i'm surprised the market is not moving to the upside or more towards the flat line because of that. factory orders, stronger than expected the .2 increase in september from october. two good reports. stuart: inflation? lauren: yeah. stuart: kind of -- opening it up. lauren: fed. wait and see what jay powell says and does today with the two ts, taper and timing. stuart: good news can sometimes be bad news and bad news can sometimes be good news. lauren: sometimes we're confused. stuart: but we're not. this is the defeat of the left. the high point of socialism may have come and gone. we can but hope. democrats in new jersey and virginia tried to make the election all about trump. it was more about the failures of biden. all the leftist

hit another intraday high, microsoft is at 334. it hit 335 earlier. the yield on the 10 year treasury is down to one.25%. that's why big tech is doing well. there's a correlation between the two. 152 on the 10 year. now this. the great climate conference in glasgow has all the scary talk we are used to from the climate crowd. how could president biden fall asleep when world leaders were warning of armageddon. the secretary-general says fossil fuels are pushing humanity to the brink. britain prime minister boris johnson says without climate action mankind is at one minute to midnight it if we don't act, worldwide anger will be uncontrollable. president biden thinks climate change is an existential threat, a threat to our whole existence. i -- in my opinion it is meaningless. which countries apart from the united states have met their carbon reduction goals and which countries are going to commit to cuts in the future that will meet the un's goal? very few and if they did meet those goals many of those world leaders would be voted ou

companies, you see that that has bode well, putting in company insiders to replace the founders at microsoft, apple, alphabet, you've seen all of those co-founders sort of take a backseat and the people that replace them doing a very good job. of course, jon, amazon just did that this summer it's still early for andy jassy, but the trend so far has been pretty good. >> yeah. and i think it's important to put twitter in a whole different context than those companies market cap of this company is under $60 billion. what, let's see docusign is bigger than this, snap is bigger in market cap. it kind of has the feel of an underachiever a bit, not to cast aspersions at all on jack dorsey it has clearly its challenges being compared to facebook but even compared to a lot of other companies in tech at this point, there's a lot that could be done with twitter, carl i don't know, i think a lot of people have the sense that this is a company that while it's culturally important has played it safe along a lot of trends and a lot of different ways. so there's room for somebody to take this company in a d