I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

Welcome to Tech Check. I'm John Fort with you, Jibosa. Carl is off. Today we open with a fatigued

consumer, surging interest rates, crippling inflation, leading to a muted holiday outlook for spending.

Tech stock set to take the brunt of it online sales on pace for their

slowest growth in seven years while the biggest retailers in the world amazon walmart

target among them explore alternatives to clear excess inventory adobe is forecasting a mediocre

picture for the end of the year later we'll tell you how the iPhone 14 factors into all that.

But the Q4 consumer spending looking odd on a day when the NASDAQ

is posting a new 52-week low.

Last year, the encouragement was everybody get out and buy your stuff early because supplies are uncertain. This year,

it seems like retailers are trying to get people spending early because they're not sure if

they're going to spend later, even though there's actually oversupply in some cases.

Yeah, and that sort of estimate from Adobe shows that people actually are getting out and spending.

You saw that number higher, but that doesn't say anything about the uncertainty, right,

that we're going to face for the rest of the holiday season.

When consumers are still facing higher gas prices, higher home prices, higher rent, higher food prices.

So will those discounts lure them back in, John? This is certainly

something we've been asking for a while now. How is that going to weigh on bottom lines,

those inventories that they have from last year? We just heard from Courtney Reagan. That was interesting.

How is the consumer heading into this holiday season? Yes, still $1.4 trillion in savings,

but that number is actually less than previous data implied.

So perhaps there's signs also going into the holiday season of consumer credit strain.

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