♪ welcome to "power lunch," everybody. nice to have contessa brewer here taiwanese voters re-elect the ruling party despite china's warnings

another controversial tweet from elon musk saying he wants more voting control over tesla or he'll take his great ideas else where we'll get to that. first, let's get a check on the markets. the dow down .8% you have the s&p 500 off half a percent. the nasdaq composite off half a percent as well and boeing shares also falling today. look at this they're down 23% year to date. and off 8% today it accounts for a huge chunk of the dow's losses the company says the 737 max jets will require additional quality inspections. wells fargo downgrading the stock this morning, tyler. apple also hoer and hurting the major arches it is cutting prices on the iphone and other devices in china amid more competition. concerns about demand in china also weighing on the stock there. so let's begin with china. and the fallout from the elections in taiwan, which went the exact opposite way beijing

would have wanted. eunice yoon live from china right now with more. hi, eunice >> reporter: hey, tyler. well, the person who beijing despises william lai won but he didn't win in a crushing landslide. it was a three-way race. he got most of the votes but not a majority and his party the dpp lost ground in the legislature. beijing is still very much fixated on lai and the dpp, which they appear to be convinced, want to declare independence from china. lai said that he has no plans to do this. and the government here has responded to the election this way, saying that the dpp doesn't represent mainstream public opinion in taiwan. they say that the dpp doesn't change the trend of the mother

land eventually being unified. the state media went a little further saying that the dpp must accept the inevitable trend of what they describe as reunification with china the communist party, of course, argues that taiwan is very much a part of china. now, for investors, this likely means more of what we've seen in terms of the relationship and the approach that china has taken towards the taiwan under the dpp. this likely means no dialogue that we're going to see between beijing and the dpp. also, likely military intimidation, hostile rhetoric and then there could very much be a more economic steps taken against taiwan as retribution for these results. guys >> so, do you think that whatever china does they may begin to do in the short term

because mr. lai is not sworn in until, i believe, sometime in the mid spring, maybe may. you'll be able to tell me. >> reporter: yep. >> do you expect them to start doing whatever it is they're going to do now or wait until he's actually in office? >> reporter: it's difficult to say. a lot of people are saying that there is a waiting game until may 20th when william lai is going to be sworn in so, people are kind of watching to see whether or not bay ying is going to be taking any action there will be some discussion if the losses that the dpp had in the legislature could change the dynamic in any way because that means that the party, the kmt is seen as friendlier to china might have more sway, but even that is very much unclear because what we could see is the dpp broke ring with a third party, the one that could be a little bit of a spoiler and that they could act as some sort of

coalition government and then lai could still be able to have more control over his government. >> is it significant, eunice, that lai not uttered the word independence apparently, that being a triggering word to beijing? >> reporter: not really because -- the chinese government just seems very fixated, some would say obsessed, with lai and with his predecessor. especially with lai, even himself said in the past that he has been very much in favor of some form of independence in the past so they've described him as an independence worker. they've framed the whole election as peace and war. and so, because of that it doesn't really make much of a difference whether or not he says independence at this point or if he doesn't say independence the chinese government very much

dislikes him. >> yeah. they know what he stands for and the words he used in the past. eunice yoon, we appreciate you staying up for us. our next guest says although china's reaction to the taiwan election has been calm there is still the potential for military activities in the near term he warns there are uncertainties for companies that rely on china. managing director and senior policy analyst at long view global and also a cnbc contributor. good to talk to you. what does this mean in the near term, you think for this delicate balance that the united states has set up with china, especially because we have already seen today china is pushing back, giving a slap down to say philippine's president because he congratulated the new winner of the taiwan election. >> thanks for having me, contessa look, i think what you're seeing

here, the geopolitical risk in the region remains high. we can all breathe a little sigh of relief here in the near term that china's actions, although not its rhetoric, has remained moderate and somewhat measured but, as you pointed out, there's still a lot of risk here in the taiwan strait but also in the south china sea more generally with respect to the philippines and the actions that's happening there. but i think china is going to have to be very careful here, contessa we are also in an election here in the u.s and if things were to derail, if there were any missteps like the balloon incident from last year, there's not going to be any time to recover and repair this relationship like we had at the end of 2023. >> meaning what, that whoever would come into office next would do so having to crack down but very publicly against china? >> well, i think you're going to immediately have a situation

with china inserts itself into the u.s. elections in a way that's not advantageous to china. it will force the biden administration to really move away from the spirit of san francisco, as i call it, this commitment to open dialogue, to high-level meetings. and so if china is smart here, they would tread very carefully as we move through the u.s. elections. and so far, to their credit, their actions have been moderate the rhetoric is overheated, but we can all breathe a near term sigh of relief but, over the long term, businesses should still be concerned about the risk of a u.s./china conflict or incident, particularly in the taiwan strait. >> it's interesting because when i speak to high-level insurance ceos who have businesses all around the world and keeping close tabs on it, the geopolitical instability is a worry for them and what they say is you cannot disregard what's happening in

the far east what china is doing to set up its dominance in the world, the way it pays off other countries to that they will disregard any claim to independence from taiwan, that they will sever diplomatic ties with taiwan, that it should not be disregarded. and at the same time, then you have china's premier in davos telling the crowd of global businesses there, look, we're on track for, they said, 5.2% growth for 2023. that's the estimate that they're coming out with. basically trying to reassure all of these global business leaders that china is a great place to find business opportunities. is it? >> well, look, it's a mixed message for sure and li chung has certainly been the one deputized to carry the message that china is open for business look, what i say to companies all the time, is you have to try and manage for these risks

you have to think about contingencies. i know de-risking is complex it's hard. it may not be popular. but they should continue to try because these risks are very real and finally, contessa, i think what i say is at least have a way in which you thought about all of the possible contingencies in how this could go wrong i'm finding even some resistance from companies even having contingency plans. i think that's very dangerous to be quite honest. >> you're nibbling around the area i wanted to get your advice and that is what would you advise ceos of american or global businesses to do if they are manufacturing in china, selling and china is a major market of their's? what is the posture, the footing they should have when you say de-risk, there are lots of ways to de-risk. what are you describing there? >> well, it's a good question, tyler. listen, i think to the degree

that if you're dependent on china for any major part of your supply chain, you have to start now. take the space we have now, the piece that we have now to try to put in place ways in which you're not solely dependent, that china is your single point of failure in terms of your supply chain, but companies that rely on china as their market, this is a little tougher but for companies that have china in their supply chain, they should start now. but tyler, here is the thing that's important to point out to american businesses, chinese businesses are doing the same thing. they are finding ways to duplicate and move things to southeast asia and other places because they also fear what may happen in the long-term in this relationship so i say to u.s. businesses, just look at what your competitors in china are doing they're also moving some duplicate capacity into other places south of china. >> like the farmer's wives used to say, you don't put all your eggs in one basket thank you. appreciate it. >> good to see you. all right. the dollar hitting a two-month

high against the chinese juan. more on that, let's get to rick santelli in frigid chicago rick >> yes, tyler, both on shore and offshore at two-month lows v versus the green back. it isn't only relegated to that asian currency let's look at the dollar yen it's at a six-week high versus the yen. now, with respect to the yen, the bank of japan missed a few chapters in the tightening cycle and doesn't look like they're going to enter it at all potentially. with respect to china, we all just heard the guest there's a lot of issues there that are keeping pressure on their currency the elections being the most recent, which had a dramatic affect on the pricing between where it was and where it is today. now, if we look at interest rates in general, we have double-digit gains from 2s out to 3s. now, as you look at a 30-year

bond, that's a two-week chart. we have broken out to the upside 30-year bond right now is up nearly 14 bases points on the session. and, if you look at 10s and 30s, they're both hovering right now at five-week high yield closes and the dollar index is hovering at a five-week high as well. and finally, 2s, 10s spread. now it's flattened, become less inverted by about four bases points today it's hoving at minus 16. the last time i closed in positive territory, well, that was in july. but right now, it's the least inverted since halloween, toyler back to you a judge moved to block a jetblue/spirit airlines merger phil, what do you have >> what you have is a deal that many thought was going to face high chances of being blocked

actually being blocked this is where we're seeing the most reaction today. shares down 60% -- 50% i should say as the judge blocks the spirit deal. take a look at shares of jet blue the doj winning this case. by the way, this is two-straight wins by the doj blocking either airline alliances or in this case an airline merger the cost for jetblue could be significant. this could be a costly decision depending on whether or not they appeal and can reverse this at some point in the future $3.8 billion deal with a break-up fee when they agreed to this in july of '22 of $70 million. that would be jetblue would have to pay as a break-up fee spirit shareholders at the time were also going to get $400 million minus whatever payments happening between july of '22 and today if the merger was

blocked. the airlines releasing a joint statement saying we disagree with the u.s. district attorney's ruling. we continue to believe that our combination is the best opportunity to increase much-needed competition and choice by bringing low fares and great service to more customers and more markets while enhancing our ability to compete with the dominant u.s. carriers jetblue's termination of the northeast alliance and commitment to significant divestitures have removed any reasonable anti-competitive concerns that the department of justice raised we are reviewing the court's decision and are evaluating our next steps as part of the legal process. look at the airline index. why is it down do you think anything is going to change in the airline industry, at least under the biden administration they made it clear, they're not going to approve any mergers somebody wants to step up to the plate and propose a deal

that's one factor, in addition to some other head winds out there for the airline industry right now. bottom line is this, guys, this is a big win for the doj and again, the second time the doj prevailed. they also prevailed endorsing jetblue and american to unwind their northeast alliance they have that win and this win blocking the spirit and jetblue merger. >> phil, thank you very much phil lebeau reporting for us. coming up, the goldman standard goldman sachs bhoeing away earnings estimates plus, top executives weighing in across the network today we'll recap the key take aways in three-stock lunch "power lunch. we'll be right back.

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welcome back to "power lunch. earnings season heating up today with results from more big banks. let's bring in leslie picker hi, leslie >> hey, contessa yeah, morgan stanley results weighing on the stock today. currently down a little more than 5%. most analysts have described the quarter as effectively just okay and the stock reaction is reflective of that there was a slow down in net new assets into wealth management leading to flat revenue in that division during the quarter.

here is the title of the note, they describe morgan stanley's quarter as, quote, similar to the cowboy's and eagle's the potential is much better than how they ended the year this, of course, was ceo ted pick's first earnings call, having taken over that role from james gorman just two weeks ago. pick was asked how he would describe his leadership style. he implied he and gorman are much more similar than not gorman brings a positive mojo to the business investment banking revenue was up 5% and cfo tells me that the backlog is a, quote, bright spot as they look forward optimism around green chutes bolstered goldman sachs shares for most of the trading day though they are down .3% right now despite declines in investment banking during the fourth quarter goldman ceo said on the call that the, quote, level of strategic dialogue has

definitely increased asset and wealth management at goldman was a top line 23% jump in the fourth quarter to record 2.8 trillion in assets under supervision, guys. >> so leslie, we heard optimism before about an increase in ipo and m & a activity what's different this time >> yeah. i think it was james gorman who said, you know, if we did have green chutes throughout the course of 2023, someone forgot to water them. so the question is, why is it that we have been hearing so much about this pent-up activity and all of these discussions that are taking place across corporate america, but we haven't seen that real pick up in activity after several years now of depressed activity, at least relative to historical standards. one of the key reasons is, of course, the rising interest rate environment. once rates start to level off, we'll see that activity really start to filter through. additionally, you've got a

situation where people were worried throughout the course, thooes the first half of the year in particular that we were going into a recession so you don't want to do a big deal if you're about to go into this big downturn in the economy. it's hard to come up with a good price by which to transact a lot of ceos have been waiting for a better opportunity when the outlook looks a little clearer. now, all these calls have encompassed ceo comments about uncertainty that's out there, there's the geopolitics, there's what's going on with the fed we'll see if there's enough clarity for enough transactions to occur in 2024 as the ceos have alluded to this earning season. >> leslie picker, thank you. appreciate that. all right. our next guest is expecting a second consecutive quarter of earnings gains and says the stock market needs growing corporate earnings to do the heavy lifting this year. let's bring in mark, chief investment strategist at januariny montgomery scott good to have you with us, mark

welcome back let's pick up where leslie left off, discussion of the banks, particularly the big banks how do you look at their earnings reports and analyze them and do you think that banks and the big money setter banks are a target of opportunity this year, something they weren't last year? >> yeah, tyler i mean, i think you see a little bit of dichotomy what we saw reported on friday by the big money center banks and that which leslie was just reporting on with regard to kind of the investment banks banks just because of the composition of their portfolios overall. but turning back to the money center banks, i read it to be somewhat encouraging now, obviously so much will depend on the evolution of the economy as to whether we see any uptick in loan demand which remains relatively subdued at this juncture. but cheerily the money-center banks benefitted from continued impressive numbers out of that you are net interest margins as a consequence of the deposit flows that went into the money center banks after the banking

aftermath in march of last year and obviously still quite healthy spreads other that which they are lending money out at. and so, as a consequence, i like them from the standpoint of them being great global franchises with healthy dividend yields and maybe yields that can continue to go up, but in the meantime, less than favorable toward them overall, just given the fact that i think economic conditions are going to remain rather docile here in the united states, at least for the foreseeable future with a nontrivial risk we do dip into a mild recession perhaps in the second half of this year. >> last year it seems to me was the year of two things one was the magnificent seven and their outper performance as a group and number two was multiple expansion this year you think it's going to be driven by earnings and you think the earnings are going to come from the likes of industrials because of

infrastructure spending, industrials like which >> well, to name a name, health care is a sector wes a like but caterpillar in the industrial sector obviously an iconic company that is a real bell weather on global infrastructure and industrial activity there's obviously a pretty significant impulse permeating the u.s. economy by way of the infrastructure spending on the ira as well as the chips act and even fiscally being underpinned in europe for many of the same reasons, decarbonization, electrification and son. i think is a secular thing that will benefit the build out of on shoring, reshoring and activity around energy transition to clean energy that is going to be a tail wind to dcaterpillar for likely some time to come

i do think earnings have to do the heavy lifting. the multiple expansion story of 2023 may be a little more elusive than 2024. >> mark, we have to leave it there. thank you very much. we appreciate it further ahead -- >> you're welcome, tyler, thank you. just ahead, elon musk playing hardball he wants a massive stock reward from the board or else he'll build his ai products somewhere else "power lunch" will be right back

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or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence. oh, it was frigid across most of the country. it was so cold but you would think that that would boost natural gas prices not so pippa stevens joins us now with more why not? >> so, much of these gains actually came last week. so, it's an issue of, you know, buy the rumor, sell the news type of event. now we are past the peak of cold

weather, so we are seeing -- >> we are? >> according to the meteorologist it's very much in flux but they say we are past the hump of the coldest is now behind us. tonight is still very cold but then things get better tomorrow. don't quote me on that. >> shouldn't she have a weather map. what will happen, the cold weather will blow through new york so contessa will keep complaining about the cold weather. >> the sun will come out tomorrow which is why i'm in this jacket. we are seeing prices down 12%. >> we were in a mild winter. not just us, europe had a much milder winter. wed around new year or christmas talking about the fact that, oh, gas isn't really in use and the prices, the consumers are paying are lower because it's not really in use is that going to change? >> you bring up a very good point. so we did see a huge volatility last week up 15% nat gas contract we're not seeing longer term optimism to your point, the fall was very

warm, december very warm so there was a lot of injection into storage when typically you see withdrawals from storage what happened now is stoirng is sitting 13% above the five-year high so that's why we saw the front contract surge above, we didn't see any further out any type of meaningful gains because inventory levels are still high, production is at record levels and also a big game changer here is lng and demand from lng but seen a number of those new terminals pushed out into 2025 now for consumers, once your utility bill goes up, as tyler famously said, it never seems to come down. we are still working through when prices surged above 10 bucks a year ago those increases are felt over a number of periods. so that's why we don't see an immediate one to one change in our yutility bills. >> it sparked a combination with my 10-year-old twins

it was a very great learning opportunity. thank you, pippa next time i'll have them call you. let's get to bertha coombs for a cnbc news update. the president called the top congressional leaders for a meeting at the white house tomorrow sources tell nbc news he invited house speaker mike johnson, senate majority and minority leaders chuck schumer and mitch mcconnell as well as house minority heeder hakeem jeffries to discuss the national security supplemental funding it includes money for ukraine and israel but republicans have held it up as they push for more immigration policy change. a federal judge has rejected former trump adviser peter navarro's bid for a new contempt of congress trial. navarro claimed protesters outside of a courthouse last year prejudiced the jurors but today a federal judge said his legal team failed to prove that claim in their filing and the world's most popular

video creator mr. beast is pitting youtube against x. he reup loaded a video he posted on youtube in september to x so he can compare ad revenue between the sites. mr. beast says he'll share the results next week. move comes after x announced that it would try to court creators and media personalities to the platform. i will tell you that he's gotten over 64 million views, although he has 10 times as many s subscribers on youtube as on x, but one of the folks who reposted his post was noneveryone elon musk. >> wow very interesting i would think that youtube would have an edge there because it's so familiar. >> and their users -- mr. beast subscribers on youtube, i have no -- i'm just going off of what i watch in my home >> people in your home watch

this. >> the 10-year-old twins are watching mr. beast on youtube, not on x >> not on x. >> i never heard of him until today but he has over 230 million subscribers. and he's only 25 an amazing business at only 25 years old. >> i'm with you. i never heard of him i learn something everyday >> you have to have the kids ar around. >> very specific audience. >> the only ways i know modern music is because the children introduce me to it >> these kids. keeping us fresh thank you. >> coming up, boeing going all in the aircraft maker ramping up its quality inspections. bringing in an outside assessment firm. we'll tell you about that next awkward question... is there going to be anything... leftover? oh, absolutely. [inner monologue] my kids don't know what they want. you know who knows what she wants? me! i want a massage, in amalfi, from someone named...

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♪ ♪ ♪ time for today's three-stock lunch. maybe earlier than normal. lots of big name ceos on cnbc today from davos so let's hear what they had to say and get the trades on the stocks here with our trades is malcolm

etheridge. up first is intel, ceo pat gelsinger on where the company stands in its turn around with the stock up more than 50% in the past year. listen in. w. part of the optimism in the stock for intel has been we're getting the process technology back you know, we said five nodes, four years, this audacious plan to get back to leadership. as it's coming to life, people who might have been skeptics are saying, wow, they're making it happen and i think with that it's sort of like the products get better. >> malcolm, first off. welcome. glad to have you with us what do you think of intel >> yeah, tyler i'm actually surprised he didn't manage to get ai ere where into every single sound bite you might clip because that is the slogan that's going to bring investors who had turned away from this name frankly in the last few years sim my because they weren't a part of the ai conversation, i do think their approach to try to incorporate

artificial intelligence just about everything that we as consumers touch will bear some fruit for them this year and going into the future. >> well, to that point, then, malcolm, up next, julie sweet on how the company is gearing up for ai >> we'll train 250,000 people this year in gen-ai. i trained every person about 600,000 -- because obviously people coming in, on ai. in 2019 i became the ceo and i said every person working in the mail room, hr or strategist, you knead to know six things, now it's 11. they take assessments. so, one of the things that i'm most passionate about is that ai can be great and we have to bring our people along >> what's the trade? >> yeah. so they are a hold for me. this company has long been seen as shols approach investing whatever the macro trend is in business right now it's generative

artificial intelligence. they don't create any of the products and services that are leading the way. so my concern is that microsoft or amazon who is actually building those tools could start to offer consulting and just roll it into all of other features they're offering their enterprise clients >> all right let's go to chevron, the ceo there, mike worth, on the delicate balance energy companies have to strike these days >> there are three things that really matter when it comes to energy, affordability, reliability and the impact on the environment. and you have to take all three of those into consideration as you talk about energy as a part of our economy and we have certainly seen in europe when reliable supply is threatened, prices respond and the economy feels it. >> chevron down about 2% today, malcolm. what's your trade here >> yeah. so i understand interest based on the recent selloff in energy. it certainly seems like a buying

opportunity. but i would consider this a sell i have concerns about the situation and guyana causes the deal to stall if not potentially sack it. i think that's too much of a head wind to try to catch that trade in energy that was created by the recent sell off as i mentioned. maybe an exxon would be a safer bet. >> and these properties are at the heart of hess's -- of the attractiveness of hess. >> it's the crown jewel, yeah. >> interesting malcolm, thank you so much for your insight today appreciate it. still ahead, elon musk says he wants a massive stock award from tesla's board or he's taking his bright ideas elsewhere. we'll get the key details when "power lunch" returns.

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welcome back to "power lunch. shares of boeing lower today, taking a big chunk out of the dow. let's bring in phil lebeau now to explain why phil >> it's about figuring out how deep will the assessment and the

audits of boeing's quality controls go. and what will be the ultimate outcome in terps of changes that will be made so, there are a number of different entities, both boeing as well as others who are looking at boeing's quality control. here is what boeing announced yesterday. the company saying that it would be doing more quality checks on the max 9 production lines, including adding independent inspectors as part of that, the question also comes up, wait a second, is this going to slow down ultimate plans to ramp up max production? that's one reason why wells fargo out with a note toda grading the boeing stock, given its ba track record and great incentive for the faa to find problems, we think the odds of a clean audit are low. that's matthew acres from wells fargo. that is at the heart of why he

downgraded the stock today also take a look at shares of alaska airlines. why? alaska announced other the weekend that it was going to check max 9 work of aircraft before they take delivery in the future alaska has 65 max 9s they are grounded right now as the faa assesses if this is a bigger problem than just that one aircraft that had the door plug ripped off the fuselage look at in your opinions of boeing, keep in mind, it is naming a quality assessment adviser. this will be an adviser who reports to ceo dave calhoun and admirable kirkland donald. he will report what he finds to ceo dave calhoun is boeing is moving quickly to try to say not only to advisers and wall street but also to regulators in washington, we are doing a deep dive quickly in terms of where our quality is and what needs to

change so, that's the latest on boeing and the max9 investigation guys, back to you. >> seems like a lot more news on that front so much news in your world today, phil. i wanted to ask you about this tweet from elon musk over the weekend that reads in part -- >> yeah. >> i'm uncomfortable growing tesla to be a leader in ai and robotics without having approximately 25% voting control. enough to be influential, but not so much that i can't be overturned emphasize mine unless that is the case i would prefer to build products outside of tesla i mean a lot of people see this as thoughing down the gauntlet for the board. >> publicly negotiating. he wants more. and he's got the leverage to it, contessa that's why he's doing this look, he is enough of a maverick that you can't dismiss this. let's take, for example, one of his cheap competitors. mary barra, she said to gm, i need this or i'm going to take my ideas and walk, i don't think anybody would buy it

first of all, mary barra would ever say that. i doubt she would ever say that. i doubt most ceos would ever say this elon musk, he's enough of a maverick that you have to take what he says and not dismiss it. really, you don't think he possibly would do that ultimately they'll work this out with the board but he's mickly negotiating because he has the leverage. he is the key man risk the biggest key man risk out there in the market and he knows that that's why he's doing what he's doing. >> well, if they want to keep his big brain in-house, don't want -- >> what is his stake in the company now, do you know he wants 25%. >> i think 16, 18% remember, he had to liquidate a number of his shares when he was purchasing twitter >> uh-huh. >> thank you, phil. >> shares of nvidia hitting an all-time high thanks to bull you shall optimism for ai-powered chips. we get key details after a quick break. >> announcer: crypto watch is spopserred by -- gray scale.

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let's start with those threats. chinese services have reportedly looked at ai chips. they are looking at a u.s. man. severally, because of the same, u.s. export bands that have been put in place since 2022, chinese companies are resorting to stripping gaming chips down to the actual core components, before being installed on new circuit boards. both of these examples showcase how china is using workarounds to tackle there like -- lack of high-end controls from the u.s. this is especially since 20% of the data revenue actually comes from china. they have repeatedly told me

that they are working to supply compliant chips. yet, investors don't seem phased by these china concerns at all. the stock is up 14% here today. it is all on pace for the third straight month increases with these games. looking at nvidia, up to $740. bank of america says that nvidia is one of the most mispriced stocks. it is moving less upwards than the drop in its earnings multiple. why is anyone so bullish? just last week, they have data visibility well past last year. software revenues will continue to jump. they are looking at a new ai chip in q2. they are trying to look at leadtimes going down. despite last year's 240% stock run up read

>> i would be happy with the 240%. i would take that over time. thank you. still had, generation gap in america's housing picture. we have the biggest share of the country's largest homes. what it means for buyers on the outside looking in. power lunch, back in two makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley

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we have three minutes left in the program. so more scores to tell you about. let's get right to it. corporate jets are taking flight in a big way. on the general analysis. they spent $65 million on corporate jets. personal use for their executives in 2022. they suggest that they are moving that from 2023. this is on the entirety of it. most of these are looking at the corporate executives. this is still in their contracts. they should be reimbursed for it. >> the point is that some shareholders, and those who want to ee the return to shareholders improve, they have the focus on efficiency. this is the inefficient use of

our capital. >> while using these if they are going largely or in part to serve the private interests? >> it is good for these companies. >> doubling down on draftkings. he's been reiterated for the bye. this has been shrugging off any short-term weakness. this is more than any half of a percentage. this is continuing to see growth from the expansion. california is under massive pressure in terms of tax revenue. how long did they remain on the sidelines with this? also, what about the tribes come to the table? what do we have to see? according to redfin, baby

boomers on twice as many large homes as millennial's with kids. boomers, own and occupy 30% of the multi-home statistics, even more than a decade ago they were shocked at the tiny, little fraction that generation x gets. >> big houses. >> lots of people are trying to downsize. >> it is cheaper when it is paid off. there is a baby camera. we are going to go now for a live report from kelly evans. undisclosed location. how's it going? >> it is really great. i'm glad that i get to spend quality time with everyone on this snow day. it has been a real piece of cake. >> you like your stress in concentrated doses, i take it?

>> yes. you can imagine earlier, i saw the market. i saw the airline. i just tried not to break something. >> yes. >> soon to come. great to see you. thanks for watching power lunch. welcomed the closing bell. life here at the new york stock exchange. make or break begins with rates mobbing, stocks dropping, and now some questions for the state at this hour. that is going to be over this final stretch. in the meantime, scorecard with six units left to go in regulation, looks like that. it started moving up, when the fed governor chris wallace, suggested that they come this year, but was noncommittal on how they might begin.