news and insights. trade brilliantly with schwab. oh, you wouldn't believe the ten seconds before "power lunch" begins, but welcome, everybody, to "power lunch. it's going to be a great day alongside kelly evans, i'm tyler mathisen nasdaq up 10% already in november you're richer. and we're only halfway through the month. prepare for a reversal or happy holiday? plus, presidents biden and xi meeting in san francisco no major policy changes expected, but are talks enough to get china to soften its stance for u.s. businesses, kelly? >> these guys in here would really put the nascar pit crews to shame let's get a check on the markets

which are pretty much at session highs with a dow up 176. s&p up 13 and nasdaq up 32 monster run to the nasdaq up 10%. s&p's up 10% from the end of october. the big mover today is target with stocks soaring after a big earnings beat. you can see it up almost 18% interestingly enough, the stock is still down 12% this year and the earnings beat came from cost controls, not sales improvement. same store sales fell nearly 5% in the quarter but the ceo is crediting disciplined inventory management with a strong bottom line beat, tyler >> so as stocks continue to build on yesterday's strong rally, can we expect this to continue our next guest says it's time to move to a bull market portfolio. just remember to preserve some defense. let's bring in hugh johnson generally, hugh, the market looks ahead and right now, the last few week, say from the

middle of october forward, it seems to be looking ahead to better days. is that, are those better days going to be characterized by lower interest rates or an improving economy or what? >> we may have the best of all possible worlds. i keep telling people that we're headed towards the configuration which is about perfect in cycles, you don't get, very often you get everything going in the right direction so i think really bottom line, the bad news might be that the economy might have a soft landing. maybe a hard landing first or second quarter. but what that's going to usher in is first of all, obviously the federal reserve is not going to raise interest rates further. when we get to the third or fourth quarter, they're probably going to be lowering interest rates. if the fed lowers interest rates, that means that longer term interest rates, yield and the ten-year treasury's going to come down. look for numbers like 4.40% on a

ten-year treasury down to 3.5% as we get to the end of '25. in response to that, the stock market will do very well the only problem i have now is that we've been eating away at the potential returns of t current quarter. we've been eating away a little bit of what we have as a return possibility for 2024 and eating away for 2025 move up in stock prices so we're usually a little bit up but other than that, you can't ask for a better configuration and there's still some left. >> let me make sure i understood you correctly. on the ten-year note, you see interest rates moving lower to what level by when >> well, i think they may move a li little bit higher in the remainder of what we have. a little ahead of yourselves the remainder of what we have in

2023 so if they got up to 4.85%, i'm not going to be worried because i know what the fed's going to be doing then we're talking about the end of 2024. 4.40% and the end of 2025, we're looking at 3.5% and again, that's on the back of a lot of reductions in the federal funds rate target by the federal reserve starting in the second half of 2024 >> hugh, what would you say in f terms of what happens with pbond yields here? what's the significance of that going to be? >> not much other than the fact that the bond market has been playing out really what we expect for federal reserve policy right now, the case is so very, very strong. obviously with the inflation numbers that we saw this week. inflation, i wouldn't say it's a thing of the past, but let's just say it will continue to go down the economy will slow. and the real key right now on

longer term rates and it's still going to be the key is what's the fed going to do. there's going to be debate ons and offs one step forward, one step back. but i think what we're headed towards is obviously the fed is going to be reducing rates what it really means, you don't get this very often. is you can make money, there will be positive returns from the fixed income markets so you can extend duration, don't extend it by a lot, and you'll also get positive returns from the equity markets there's still some left in this, which is sometimes hard to believe because of what we've had, but there is some left. >> we've had the opposite. i think for a lot of people, they say i'm losing in bonds and stocks but we'll see how the year pans out. you like nvidia, jpmorgan, amazon are you worried nvidia's comes into their turf? >> they've got such a big lead

on everybody else. what they're doing is so special and it's going to take a long time to repeat what they're doing in the world of chips. i've been following nvidia since 2017 and i've watched them increase or improve their chip technology continuously since then and they're not done yet. i think they've got a notable lead, they can hold that lead. i'm very concerned about the move we've had to the upside in nvidia i'm very worried a little bit about valuation but i think they can hold us. i think we've got further to go. particularly because we're looki looking at the gbeginning of a new cycle which will consist of improvement in the stock market, in the economy, followed by a rise in some inflation and interest rates but that's down the road >> so as you say, put on your bull pants right now because good times are coming. that doesn't mean that you're going to go all in on equities

what would a typical solid portfolio construction look like for you right now? >> well, you have to have i think, got to tip your hand towards the equity markets so if you've got a target of say 50% in stocks and a balanced portfolio, 50 in stocks, 50 in bonds, i'd get that 50 up to 60% and remain in fixed income in the 40%. in the equity component, i'd have mostly offense. in other words, bull market sectors such as consumer cyclicals or discretionary stocks technology stocks. i'd put those at the top i'd have staples and maybe utilities to maybe have a little defense in the portfolio then fixed income, extending duration system because again, we're going to have good bond market, good stock market. in cycles going back to 1890,

you have brief periods of good stock markets and bond markets we're there now. so everybody has to realize this great configuration of events that we've got facing us now it's not going to last forever >> i'm in a much better mood now, hugh. i am just in a better mood hugh johnson, thank you, my friend >> you bet >> can it extend to what rick santelli says? stocks have been rallying, yields have been falling that's reversing a bit today rick >> you know, it is an important day for us because we have managing director, jerome schneider from pimco yesterday, we have a really, really good cpi. we see huge drops in yields. had a low yield of what, 4.42 on a ten. 4.81 on a two and yesterday, the open interest in treasury futures reached 20 million, which means game afoot we're fully backed with players.

what do you see that's different today with a full ppi with rates that actually jumped up? >> investors are trying to take a rational approach to the data they've seen the past few days inflation metrics are in kone direction. they're trying to rationalize that in perhaps the context of a soft landing what we're finding is long open interest is symbolic of a rationalization that fixed income perhaps has a bigger place in people's fportfolio. we should expectthis to come back to a larger risk appetite to derisk exposure to volatility >> that makes perfect sense w because there's also notion that stocks have to be going higher here here that the soft landing is embedded in the picture and it's done i'm not sure i agree with it,

but we have to trade the market in front of us let's handicap the moving parts. growth inflation versus disinflation and on the other hand, servicing the debt or supply and you have the term premium that has been expanding and took a littile pause. >> we expect a 0 to 1% growth outlook for 2024 you couple that with a variety of factors including the uncertainty of new supply coming in counteract that with the fed policy might stay restricted for longer than the market expects. we expect at pimco that the recession probabilities are higher than the market expects, too. these are things that are creating this confluence of monitoring the market, the data. all the while the fed is clearly trying to get to the point where the easing or rather the tightening of financial conditions leads to not necessarily the tightened monetary policy. we believe that the fed will

rem remainen on hold for december but clearly the outcome, specifically wage inflation as we get into 2024 should become front and center for the debate with the fed as well as the market >> how do you bring in international forces germany used to be, german engineering. that's changed germany's numbers don't look good i don't see an engine of growth emerging out of europe japanese currency is at lows against the dollar yet their export numbers are moving the wrong way because the economy is slowing. how is that going to affect you? >> clearly the calibration from an economic point of view is going to put weight on growth. we look the front end because it's generally immune. a lot of the term premiums, other factors that might be persistent might be more insular at the front end of the yield curve. it's an income story as opposed

to a palpable appreciation story you might find in many risk asset stories. >> so stick with short maturities but yields may be moving a bit higher despite some of the better news on inflation slowing but maybe slowing a bit too slow jerome, thank you. tyler, back to you >> good to see you, jerome rick, thank you as well. coming up, california dream. xi meeting with biden in san francisco. we'll bring that to you as soon as it happens. plus, tech's growing bag of chips. microsoft developing its own semis following the likes of apple. ahead, we have a rare inside look at one of apple's factories and the inside track sarah eisen jumping into the ow lchwieat of formula one "perun" ll vroom right back

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just in terms of the meeting between these two leaders, there's so much that goes into every move of their muscles. t who approaches who and who's hand is on top >> it's like an intricate dance and this time, the u.s. is in a little better position to negotiate with the chinese than they were in the past because xi hasn't been to the u.s. since 2017 and a lot has happened since then >> yeah. this all being the case and the way that the rhetoric has quickly warmed up around the relationship, would you all of a sudden expect to go from advising companies on how to get out of china, which has been more in recent months, to talking to them about how to get in >> i'm still reluctant to encourage companies to go into china. at least if they're in china, i think it's best for them to sort of spread the risk to utsource things they have in china. for example, this q3 which we

just finished, china had a deficit of inbound foreign investment of about $11.8 billion. that's if firsthe first time iny that people haven't been investing in china and if i were xi, that would really concern me >> let's take in the scene as president xi of china exits his automobile the president and xi greeting one another with a seemingly warm handshake and now they turn to move into the venue where some of their discussions will take place obviously, no comments at this point. they stand, they wave. they smile all rather obligatory i suppose for these kinds of circumstances. this is the first time in i believe it is six years that president xi has been on u.s. soil, dennis there have been encounters with u.s. presidents at other apec summits like this one.

what is the best outcome, the single best thing that could happen from these talks? >> i think there are five red line problems that i see, but the one that's most concerning to me individually is that when nancy pelosi went to taiwan and xi said don't go and she went, at that point, the military relationship between the chinese military and the u.s. military was cut off by xi. since then, if there was an emergency of whatever kind, there's no real way that i know of that this can come back together i mean, you and i are old enough to remember the crisis of what happened in cuba you know, under kennedy. and as a result, we need better communications so if there's one that came out of this, and this is a geopolitical issue, not an economic issue i think that the militaries have to be able to pick up the phone and say this is a problem or this is not a problem. that would be the best possible

outcome. >> in other words, those communications, those linkages that existed pre the pelosi visit have been severed now and there is effectively, if something went on in the south china sea, there would be a difficulty at communicating between the two countries. >> yeah. in the last two years, there have been about 200 they call them incidents when the chinese aircraft or navy interdicts or somehow makes it difficult for the u.s. and its allies, canada, too, to go through there, i'm really worried. i think the hottest spot in the world other than maybe north korea is the south china sea so you're absolutely right >> let's talk a little bit about the u.s. business relationship with china how, how awkward is it basically. for u.s. businessmen and women to be sitting down and having dinner with a geopolitical

adversary like xi? and not just a geopolitical adversary, but a business adversary like xi. in other words, china is competing directly with tesla. they have a tesla factory in china, but they are competing for ev superiority with tesla in a very big way >> well, tim cook's not going to be there tonight according to published reports. about 20 to 25% of what apple sells, not just to china, but in the region, is there somebody like him has to be extremely concerned because he outsources a lot of his products coming back in but you have somebody like, darren woods, who is the ceo of exxon. exxon just signed a multibillion dollar contract in southern china to put in a factory that produces plastics because exxon wants to sell a lot of plastics

to the chinese in the future he, exxon, has a direct interest in making sure that the relationship between china and the united states is better. then you have elon musk, a lot of what he has is sourced out of china. so there are those u.s. companies which really heavily depend on china now. any break would hurt them financially and others have to say do i really want to go in. >> and correspondingly, doesn't xi have a strong incentive to, accommodate is too strong a word, but work constructively with american businesses in so far as they are investing there, they are employing there and china does have an unemployment problem, particularly among the young. >> you're right. under 25 workers is about 21%. for someone who wants to have total economic control and

political control over his economy, that has to really, really concern xi and i think that he'll want to make nice and he'll want to say to these leaders at the dinner tonight, please help me with the president. but the u.s. as you see, has raised the level of national security to a higher level you know, the best example are the chips and the ai technology. so it's really going to be a delicate dance today >> dennis, we always value your insight and analysis particularly on a day like this. thank you. >> after the break, an elective procedure following years of claiming a hard line against fake news. meta is allowing ads alleging the 2020 election was rigged so what led to this policy change plus, camry joining the electric company, sort of america's most popular sedan going all hybrid we will discuss this when "power luh"onnu nc cties

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president biden and president xi getting to work making welcoming remarks to one

another. this eagerly anticipated summit on the sideline of the apec meeting is really the highlight of that meeting for many let's listen in. >> i look forward to beginning this discussion and i welcome you and the floor is your, mr. president. again, welcome back. >> good morning. >> translator: coming here, i thought of, i think of your trip to china when i was the vice president of china we had a meeting it was 12 years ago. i still remember our interactions very vividly. and always gives me a lot of

thoughts last time we met in bali, you said it was a year and a day ago. a lot has happened since then. the world has emerged from the covid pandemic but is still under its tremendous impacts the global economy is recovering but it's momentum remains sluggish industrial and supply chains are still under the threat of interruption and protection ism is rising. all these are grave problems china-u.s. relationship, which is the most important bilateral relationship in the world should be perceived and envisioned in a broad context of the accelerating global transformations unseen in a century. it should develop in a way that benefits and fulfills our

responsibility for human progress china-u.s. relationship has never been smooth sailing over the past 50 years or more and always faces problems, one kind or another, yet it has moved forward amid twists and turns. for two large countries like china and the united states, turning our back on each other is not an option it is unrealistic and conflict has unbearable consequences for both sides i'm still of the view that major country competition is not the prevading trend of current times and cannot solve the problems facing china and the united states or the world at large climate first is big enough for the two countries to succeed at one country's success is an opportunity for the other. it is an objective fact that china and the united states are different in history, culture, social system, and development path however, as long as they respect each other, coexist in peace and

pursue cooperation, they will be fully capable of rising about differences and find the right way for two major countries to get along with each other. i firmly believe in a promising future of the bilateral relationship mr. president, you and i, we are at the helm of china-u.s. relations. we shoulder heavy responsibilities for the two peoples for the world and for history. i look forward to having an in depth exchange of views and reach new standings with you on strategic and overarching issues critical to the u.s.-china relations and major issues affecting world peace and development. i wish to thank you for your

thoughtful arrangements for our meeting and participation at the apec meeting thank you. >> thank you, mr. president. >> thanks, guys. >> thanks, press all right, guys. thank you so much. >> all right, guys >> the opening remarks have been

concluded there. president biden went first then chinese president xi in what you would call very scripted, practiced remarks. xi said that the world is emerging from covid but economic momentum remains sluggish and protectionism is rising. and basically making sort of very conciliatory noises about the bilateral relationships between the u.s. confrontation has unbearable consequences, he says, and the earth is big enough for both countries to s succeed. let's go to eamon javers who is on the scene monitoring this summit go ahead, eamon. >> fascinating body language between the two leaders as we saw them greet each other both in the standing handshake portion and seated remarks i agree. i feel like those were

deescalatory remarks even though the relationship has had its ups and downs over the past 50 years, that the two biggest countries in the world can't afford to turn their backs on each other i think i caught a bit of a smile from joe biden to xi as the press began shouting questions as we always do trying to get an answer from these world leaders. of course, neither one was going to engage in that moment i think i saw that smile reciprocated by xi so maybe just a little bit of a common ground in terms of their announce with the press at the end of that meeting. but i think this is the start both the white house and beijing wanted to this meeting this whole meeting is about putting a floor under the relationship between the united states and china so it doesn't get any worse. all of this has been choreographed. i even noticed when they did the handshake, each man put his

hands on the top hand of the clapsed handshake. they tdid do the elaborate greeting they might do from a formal state visit even though this is just a meeting on the sidelines of the apec summit one other note, tyler. you look at who was next to the president. his secretary of state blinken and janet yellen, the commerce secretary and john kerry down the table. the climate envoy from this administration i think that gives you a sense of what the priorities are on the u.s. side of the table it's economy, commerce, and climate very much in the summit as well as the foreign policy. >> kelly and i were just saying what a month blinken has had considering all the travel he has been doing i thought there was a tone of real politic and reality when xi said that the relationship between the united states and

china has quote never been smooth sailing but has kept moving forward amid twists and turns. and that sort of sums it up and probably speaks accurately to where things are today that maybe the goal here is to keep moving forward without antagonism amid what will be twists and turns of two highly competitive global powers. >> this is the muddle through summit we're not going to get a major breakthrough here, but this is how do we keep this relationship going and not getting any worse. we want to prevent any accidental military confrontation between the two sides. we've seen the pictures of chinese planes getting very close to american planes over the pacific. chinese and u.s. naval vessels coming in close proximity. any one of those situations could turn into a flash point. that's why the biggest takeaway of this summit is expected to be

the resumption of military to military communications. those communications were shutout in the wake of nancy pelosi's visit as speaker of the house to taiwan in '22 the expectation is that they will be able to resume those after this meeting today with a goal of making sure there's at least not an accidental confrontation. everything that happens between these two countries is very measured and thought through and that's why i think you saw a very measured and thought through summit beginning there z >> eamon, you will be in the room where it happens tonight when the business leaders meet with xi and the chinese delegation we lk ooforward to your reporting. thank you very much. "power lunch" will return after this go. and go and go and go. ( ♪ ♪ ) but what if you... stop? you work hard, it's time for a bank that'll work hard for you.

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welcome back meta loosening its strict rules regarding election ads ahead of what is to be a highly contentious presidential election in 2024 the most surprising part they did so quietly around a year ago and julia, no one seemed to notice julia boorstin with more when did they do this and why

hasn't anybody picked up on it >> there's conversation about meta's changes to its political ad rules last year, meta made this decision that political advertisers can stay on its platform that past elections were rigged or stolen. with this change in focus now in a story that was out in the wus journal, meta says it is preventing political ads from questioning the legitimacy of ongoing or future elections. when i asked if undermining the legitimacy of past elections and spreading disinformation could undermine confidence in the electoral process or spark violence like it did january 6th, they pointed me to a blog post that said the company is committed to preserving free speech including one that says -- now, all this comes

after meta announced in april that it would reduce unpaid political content. just regular political content shared by its users by taking some steps so people won't see several posts about politics in a row. but this minmization can be seen as facing more focus on political ads. in september, a non-profit called media matters found meta is violating its own priorities. >> it's heating up thank you very much. julia boorstin still to come, start your enjoins. formula one hits the track in las vegas this weekend one of the most anticipated supporting events since the super bowl we'll get a live report on how that's going when "power lunch" returns.

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check out shares of formula one. it's a big weekend for the company as they stage the las vegas grand prix shares are down about 2% reight now. before the race, check out cnbc's documentary, inside track, the business of formula one. it airs tomorrow night at 8:00 here's a preview >> tell me about the million dollar package >> it's designed for a group of six. it has a pit lane walk where you get up close and personal with cars and teams and all that good stuff. it has access to the wayne great club invitation to the opening night ceremony and a lounge. >> and in fact, joining us now with more is sarah eisen from las vegas and so much hype, sarah. can it give up to the hype, i'm

curious both this weekend, but also what's the longer term significance of hosting something like this? >> kelly, the hype is part of the strategy certainly fi parent company liberty media is hoping it can live up. it's part of what they're going for, which is a bigger, bolder formula one, to grow the fan base in north america. in the united states that's what liberty has brought to this sport when they acquired it about six years ago they did it by adding a mike race last year and now vegas this year. they did that by signing a deal with netflix to do drive to survive in 2019 when we were in lockdown and looking for shows to binge the drivers were able to take off their helmets and show us their personalities and the drama that went with it. ever since then, the sport has seen big growth in the united states and vegas is that ultimate bet

so liberty has invested a fortune here more than $500 million to buy the land, build a paddock building, which is the structure that goes over the garages and where the highest priced ticketholders get a seat overlooks the starting grid. and it's going to be a permanent building, to your question, kelly. they're hoping it can be a permanent activation site for formula one in vegas going forward. it's also a ten-year deal. so expect a race here every year >> a race every year for the next decade? >> yeah. well, just one of many formula one has 24 races in a season, kelly. so this is sort of the end of the season we to this one then abu dhabi, but it's huge. craig billings told me it's going to be bigger than new year's bigger than the super bowl for vegas. in fact, the estimates are that formula one is going to bring in $1.2 billion to the las vegas economy. double the super bowl, which is also happening here in february.

so, it's obviously a huge coup for las vegas and that's why all the casinos have signed on >> wow they're on the scene they're on the scene in more ways than one. sarah, thank you very much very cool as well. sarah eisen reporting. look forward to the documentary tomorrow night still ahead, microsoft introducing its own ai computing chips joining others like apple bringing their technologies in house. is this the new way of the industry we'll discuss in a moment. let's check it out. says here it gets plenty of light. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal, on the iphone 15 pro made with titanium. we mean it. amazing. all my agents want it. says here...“inviting pool”. come on over! too inviting. only at&t gives businesses our best deals on any iphone.

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microsoft is making its own chip, something an m has done as well steve kovak joining us let's start with these announcements from microsoft, nvidia moving lower. >> they're about to have their own ai chip that microsoft is taking, but the news here today was two big announcements, one,

this new ai chip that microsoft will use in its servers to push these ai models they're using for their new co-pilot thing that was the other announcement. co-pilot is getting some new feature, the product they sell to enterprises for $30 per user per month. we've been talking about it for ages the real story is why we're seeing nvidia going lower because of this idea that companies that bring their chip design inside, they're less reliant on third parties microsoft will be less reliant on invade ya >> what does co-pilot do >> it's a super smart assistant that can help but yo everything, reading our emails and telling you what you missed, transcribing teams meetings you have, action items from that there's a whole suite of things. we could be here all day but apple is a really good example of another company that's done this, weaned itself off intel chips and started

producing it in house to great benefit. >> the microsoft/intel relationship goes back decades what about apple >> i went to cupertino, california, yesterday, and we were the first journalists to be allowed to film inside of an apple chip lab they have thousands of engineers working on their customs, and we went inside their thermal chip lab, one of many labs. i couldn't get an answer for exactly how many you see me with johnny, the head of apple silicon and i'll get to what he told us later, but we went inside the chip lab where we saw the m-3 chip, their newest custom silicon being used on macbooks, macbook pros, i-macs, helping differentiate themselves with different features like 22-hour battery life on the macbooks they were testifying about 250 machines, running them through

really high and low temperatures they test these chips on a variety of other machines in other environments at a bunch of chip labs elsewhere. they've got chip labs in austin, israel, germany. like i said, thousands of engineers working on this. we also got to see some of their a-series chips that go into the new iphone 15. specifically, they are three nan m ometer chip, the first shipped at scale we got to sit down with johnny, and he gave us a rare chance to talk about what this silicon does i also asked about why apple is prioritizing this expensive, difficult process of chip design in house here's what he said. >> we get to design the chips ahead of time, working with our partners, to exactly and precisely make chips targeted

for only those products. we work together very closely as one team >> really important because this is what microsoft is doing right now with ai, bringing this in house, they're able to add more capabilities on the ai front, and we've seen apple do this already when they don't have to rely on a third party to fulfill the vision they have for a product. they can do it all in house, talk to the teams internally, don't have to wait for problems to express themselves from intel and other places we've seen apple successfully pull this off, and now we're seeing microsoft get into it on the ai front super interesting. >> really the frontier of this business thanks very much, steve and katie. we appreciate your time today. coming up, talking turkey. why your thanksgiving dinner could be a bit cheaper this year giving traders even more ws to sharpen their skills with tailored education. get an expanding library filled with new online videos,

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your turkey dinner might come with a side of deflation this year. jane wells has important news on consumer prices. >> reporter: probably the best news about cooling inflation is the thanksgiving turkey, but don't tell the turkeys [ gobbling ] turkey prices have been falling because we went from a shortage of birds last year due to a devastating avian flu to an

oversupply this year the american farm bureau federation says the average thanksgiving dinner for ten this year will cost a little over $61, down more than 4% from last year's record, but a lot higher than prepandemic and turkey prices, which shot up almost 50% over the last few years, down 6% but still way up from 2019. will your revenues this year top 2019 >> the revenues probably will top 2019 because we've continued with price increases margin contribution, though, will not >> reporter: margins are eroding due to higher costs, especially labor. ronnie is also afraid the consumer may not be ready to buy a big bird yet >> this year we started our turkeys later than ever before because i am predicting that the size is going to be a little smaller than least year. >> reporter: well, i'm going big. i'm getting almost a 20-pounder. don't tell them. guys >> i love how these turkeys seem

to cheer you, jane, in unison. they all seem to come together with a cheer for you >> reporter: these are all toms. it goes like wildfire. but these are really big birds these are 24-, 26-pounders by next week. >> i have to do 16 pounds this year i'm afraid i need to start at, like, 8:00 a.m any tips >> reporter: oh, my gosh the hubinator is going to brine it on monday, it is the moist, delicious turkey i'll have him get in touch with you, kelly >> in good shoes jane, to put a rude question delicately, how much longer do these turkeys have >> reporter: not long. they're full-grown i'm sorry, guys. but ronnie lee in new jersey,

one interesting thing about him, he's having smaller birds this year, but that helps because he's paying so much for labor, and there is still a bit of handling -- won't get into specifics at the end -- it's nicer to have lighter birds that you're moving along. >> bless their gobbling little hearts jane wells, you too. thanks for watching. >> just ruined my appetite "closing bell" starts right now. i'm scott wapner from post 9 at the new york stock exchange stocks are on the run, the rally extended after another read on inflation comes in better than expected coming up momentarimomentarily, ask the wharton school's jeremy siegel how long this can last. in the meantime, your scorecard with 60 minutes to go, mostly a positive day for the majors it had felt like we were taking a breather, but wouldn't you know it, we begi