Our road map does begin with tech stock volatility. Adobe shares are tumbling. Microsoft, though, record highs. Tesla and nvidia, those stocks, at least recently for nvidia, saying its a struggle may be an overstatement, but they certainly have not been going up. The nasdaq 100 pointed to its first backtoback weekly loss since last october. Plus tiktoks owner, bytedance, on track to surpass Metas Facebook as the Worlds Largest social Media Company by sales. And the chamber of commerce suing the s. E. C. Over new Climate Disclosure rules, a lot to unpack there. And were going to begin with the road ahead. In particular, for what has been driving this market for quite some time, and that is namely what we call the Mega Cap Technology companies, a. I. , particularly generative a. I. , and mike, ill turn to you. We just mentioned, of course, nvidia shares, which, yesterday, we discussed. I mean, jim and i, years ago, developed this thing called the key to this market, and it does feel like
Katie welcome to bloomberg markets. Take a look and we are on the back foot, the s p 500 up by. 3 . We are still above 5000 but we will see how long we hold that line area big tech not faring any better, nasdaq currently off by. 7 , a bit of a down drop now that we are through tech earnings. We wanted to take a look at the vix. It is moving higher but that handle not too impressive, training with a 13 handout on the vix but lets get back to earnings and t. J. Maxx. Discount retailer leading Sales Estimates in the Fourth Quarter but being overshadowed. We are joined now by simone foxman. How conservative was the guide . Simone that has been the reaction from citigroup, from bloomberg intelligence. They are looking for comp sales to rise to percent to 3 , both for their first order as well as their fiscal year. Compare that to what they delivered in the Fourth Quarter, comp sales rising 5 . They have been guiding much lower, a bit about expectations. The eating expectations and seeing gr
other social networks existed like myspace, but mark zuckerberg s site really took off. it s less popular than it used to be with young people but the company insists it s still growing. it s the biggest social network in the world with 2 billion daily users. the most being in india and the us. two, facebook made the internet political. it was instrumental in movements like the arab spring as has become a key place for campaigning and debate around the world. for good and bad. in 2018, facebook agreed with the un report that it said it had failed to prevent its platform from being used to incite off line violence against the range of people and me in my. facebook made personal data valuable. and less personal. facebook proved that collecting our likes and dislikes is extremely lucrative. facebook s parent company, meta, is an advertising giant and takes the lion s share of global digital had money alongside google. it s also proven what can go wrong with all that data collect
expected sales in china, where a real estate collapse and rising youth unemployment is hitting demand for apple s gadgets. erin delmore reports. for apple, a big gadgets. erin delmore reports. forapple, a big highlight gadgets. erin delmore reports. for apple, a big highlight the first revenue growth in a year. they reported a 2% rise in overall fiscal first quarter sales, taking a year of declining sales. it s thanks to sales of the iphone 15 which hit stores in september. but a low light does make a decline in sales in china, to the tune of 13%. apple is missing out on one of its key markets. the world s second economy is grappling with a slowdown thanks to a property market crisis, slow growth and high unemployment a young people which is weighing on iphone sales and, increasingly, chinese consumers are opting for phones made by huawei which are powered by chips made in china. apple is on the verge of releasing its vision pro headset, meanwhile. this is apple s entry int