♪ >>> hello and welcome to "the exchange" on this friday i'm kelly evans.head this hour, a goldilocks jobs report, tushe u.s. adding more jobs than expected. and there's another key number we got today on top of jobs that could be more important for soft landing hopes. we'll tell you what it is and why it matters >>> a fund that can buy everything from blue chips to small caps to high-yield bonds and beating 99% of its peers today. we'll ask the manager how she's doing it >>> and california is in the midst of a land grab with some of the biggest names in tech taking over the state's central valley we'll tell you what they want to build and where the backlash is coming from. >>> before that, though, let's get to the markets which is, what would you call this, treading watter? >> treading water, yes, but they are much better than they were at one point this morning. you mentioned the jobs report, i'm sure you'll talk about the michigan sentiment numbers later on, as well. but we've seen a reversal in the markets and we're now modestly higher the dow up 54 poi

i'm kelly evans. here's what ice ahead. the soft landing outcome looks fully priced in now as markets trade near all-time highs. while some say it's time to question that consensus, there are three bullish catalysts that we could get come january. we'll reveal what they are and whether they're priced in already. >>> plus, it's the potential media merger everyone is talking about, but one guest says it's a big mistake. he has a different idea and says it would make media investable again. stick around to find out what that is. >>> he was early and right on a non-office reit that's at 40% this year. our analyst is back with a different name that he's bullish on for 2024. >>> but first, stocks are rebounding from yesterday's late selloff. the dow, s&p, and nasdaq all higher. and bond yields are lower after softer inflation and gdp data this morning, with markets expecting a dovish pce print tomorrow. while everyone talks about the santa claus rally, there are three catalysts in january that could keep this market moving higher

i'm kelly evans. here's what's ahead this hour. the dow is at a record. the s&p and nasdaq are touching 52-week highs. yields are down to levels we haven't seen since the summer, but did the fed give wall street the all-clear? our economist isn't convinced. plus, the host heavily shorted s&p stocks are the same ones of double diblgits this month. and mortgage rates, while rents in one key market are falling for the first time in two years. whether we're on the brink of a major turning point in real estate. let's get the latest on today's market action, an extraordinary two days here. bob? >> yes, the rally continues. and the breadth of the yrally i breathtaking. the s&p is having a nice day, up about half a percent. but the equal right s&p 500 is doing even better. this has been what's going on all week. there's that rsp there. that's a good way of indicating how broad the rally is. a lot of stocks are participating, because everything is equal weight in the s&p 500. we do have a new high on the dow industrials. nasdaq down, but also essentially a new hig

i'm kelly evans. here'swhat's ahead this hour. an hour from now, we get the latest fed decision oninterest rates. stocks are in a holding pattern as you can see ahead of that announcement. dow is up 15 points. bond yields are down, though, especially after that cooler than expected producer price data this morning. the market is pricing in a full point of cuts next year as inflation has receded rapidly. will chair powell push back on that today or not? let's start there with full team coverage on the economy, the consumer, and the trades connected to the fed's actions today. there is our whole roster guests. let's start with steve liesman in washington. steve, what's the scuttlebutt? >> i think the fed meeting today pits the market's desire to confirm its outlook for rate cuts against the fed's desire to hold the line as long as it can and not confirm those cuts. so they'll probably leave in the language saying it's still determining the extent of additional policy firming that may be appropriate. it will keep that even while it's

i'm kelly evans. here's what's ahead.ck with tech for 2024, says our market guest not just any tech, but names like names she's been buying that just had its biggest name in two decades we'll ask her what she's bullish on for 2024. could it be the year believe it or not of the metaverse? the world's biggest tech company is stepping into it as a battle for meta domination looms. and we have a special three buys and a bail today, with some under the radar names of the ev trade, including one that capitalized on the expansion in more ways than one gina sanchez is a buyer and joins us ahead on the last trading day of 2023, let's get to dom chu >> tyke to take stock, kelly, so to speak we should start off with the action for today, because it's red across the screen but not a lot so just marginally to the downside here remember, for the major indices, we're pulling off record high levels or highs for the year or those that are close to record levels the dow down about one quarter of 1%. the s&p 500, 4762, down about 20 points,

i'm kelly evans, and here is what's ahead. labor market is showing slack, but when will it be enough for the fed to start cutting? the market thinks march. some are even pricing in january. morgan stanley says june. our economists said something entirely different last time she was on. we'll ask her if today's data changed anything. >>> plus, if you didn't hear this yet, cvs is going to change the way they price prescription drugs. the ceo karen lynch joins us exclusively with the details ahead. they say it will lower costs. dr. scott gottlieb will be here to react, and we'll ask them about that new study showing that chatgbt may incorrectly be answering medication related questions. he says it's true. >>> call it rom commerce. walmart is launching a shopable show and advertiser also love it, but will it draw view sers? dom chu has the numbers. clear story in bond land. >> on the stock side of things, we have seen both sides, positive and negative so far today. on balance for the most part, it's a down day today. the dow down

i'm kelly evans. here's what's ahead this hour. stocks are jumping and bond yields are slumping today. the s&p is back up at levels last seen in july, after jay powell said uncertainty over the economic outlook is unusually elevated and signaled fed officials are done hiking. that's the way the market is reading it. our market guest is bullish but wary of the head winds. and u.s. manufacturing shrinking by more than expected today. we'll look at this tug of war in stocks between weak data and a dovish fed. >>> two rivals reportedly bundling up. we'll tell you what it would mean for consumers. >>> a special three buys and a bail edition. let's start with the market numbers and dom chu has the latest. >> near session highs right now. to your point about the stock market jumping right now. if you look at the broader s&p 500, the bigger measure of the large-cap market, we're 4596. we touched 4600 at the highs of the session, so up 32 points is the high of the session so far. down 13 points at the lows. so generally positive. the dow in

alongside kelly evans, i'm tyler mathisen.ould have huge implications for the future of ai. the new york times is suing microsoft and openai, claiming its chat bots were trained using the new york times' copyrighted articles. >>> even though the gains are small, record highs are being taken out, seemingly, every day. the number to watch on the s&p is 4818. that is the high set two years ago. we are about 30 points below that level as the index is just turning negative and giving up some of the gains we saw in the past hour. although, stocks are generally rallying as a bond yields continue to fall. a hair bel

i'm kelly evans.ed short seller carson block revealed his latest short position in london today. the name, blackstone mortgage trust. the shares are down about 4% right now. but the stock had a 3% gain for the year before the news hit. it's now turned negative. and block is warning shareholders, here comes the cliff. carson block himself joins us now, fresh off the stage in a cnbc exclusive to make his case. carson, thanks for joining us, and welcome. >> thanks for having me. >> let me just start with the fact that a lot of people will hear the name blackstone and maybe reminded of some problems with b-reit a year ago. explain a little bit about your short against blackstone mortgage and any similarities or differences that it may have to that experience, you know, that maybe first told us there could be brewing problems with the real estate sector. >> sure. well, blackstone mortgage trust is separate from the b-reit. but basically, blackstone mortgage trust lend money to commercial real estate owners

i'm kelly evans. here's what's ahead.d yields have dropped sharply in recent weeks, but our guest says not so fast. he thinks the ten-year is headed back over 5% next year and is in the no lending camp on the economy. we'll debate. >>> airline stocks rebounding today, but it's been a disappointing few months for many of them. yet one supplier is hitting its highest levels of the year. that ceo joins us. >>> there are two housing stocks our analyst says are especially well positioned into the new year, and he's got the names and how much upside he sees ahead. before that, let's start with the markets. dom chu has the momentum and what do you you make of it all? >> it's been in certain parts of the market, specifically within technology stocks. that's the reason why you have the nasdaq composite, the large-cap names, doing a lot of the heavy lifting. it's green across the screen right now, but it wasn't like that this morning. it was a mixed trade. as things stand, the nasdaq is up nearly 200 points. 1 1/3% gains. the dow i

i'm kelly evans. here's what's ahead on this friday.s been a record setting and head spinning week for markets with the dow hitting new all-time highs. but this morning, new york fed president john williams warning not to get carried away with rate cut hopes. we'll ask our guest what he thinks on this. >>> two screaming buys for 2024, india and bitcoin. our guest is here to make his case. >>> if you're worried you missed out on the home builder rally, our guest says there's more upside ahead. he'll tell us how much he thinks. we begin with the major averages trying to stream together seven straight weeks of gains. fed chair jay powell adding fuel to the rally. but stocks giving up some gains, as fed john williams walked things back a little earlier today on cnbc. >> we aren't really talking about rate cuts right now. we're very focused on the question in front of us, which as chair powell said, have we gotten monetary policy to a sufficiently restrictive stance in order to ensure that inflation comes back down to 2%? that's the question

i'm kelly evans. here's what's ahead, goldman sachs said rate cuts are coming, i lot them and fast federal fed officials are trying to push that back a little bit and david zervos ss while they have a victory lap, jay powell should tread carefully plus the mart guest says don't let this rally make you chase it, but if you're looking to get in there are two areas that are still cheap and one of them is controversial and that's why he likes it he joins us ahead to make his case >> few predicted, carter worth is here with two trades he's fading now let's start with the latest on thesmarkets and dom chu has the numbers and we're comi off a win streak. >> we'll keep it going at least for the time bei what we're seeing rate n is a stock market that's tilting toward t session highs we're up only half a percent and it currently sits at 4744 and change 4818 was the rord dintraday hi and 45% with the s&p 500. the dow drills up 37,321 the last tradeay and t nasdaq composite pacinghe advance marginally, up about

i'm kelly evans. here's what's ead this hour. toothpaste is out of t tube and a recession is coming dot scream at the tv, those are the words our economist who says two things are happening athe same time, and there's no escaping it she's here to make her case momentarily. >>> plus, it was our market guest table pounding fat pitch buy, and then came last woke's fed meeting. he tells us the trade, what's chand and what he's bullish on from here. and shares of coinbase have tripled this year with another 30% to go, with the industry in limbo, and some argue a bitcoin etf will hurt their prospects. we begin with today's markets. dom chu has the numbers and some superlatives to mention. >> we have a record high in certain parts of the market. mega cap technology and among the three major indexes, we put some stars up here for the dow industrials, right now near session highs, 37,492, because we hit a record intraday high in today's trade so far the s&p 500 is up about one half of 1%, 4760. we're just 1.5% below record highs, but we h

i'm kelly evans and here's what's ahead. gold hitting all-time highs and bitcoin jumping to a 20-month high while the magnificent seven are underperforming and what does that tell us about this market and who is in the driver's seat of this rally? our guest weighs in on that and where the opportunities are from here. plus mortgage holders are sitting on a record $10.6 trillion in equity, but they aren't tapping it because of high borrowing rates and what does it mean for the overall economy? it's amazon and walmart's world and we are just living in it as we already know and that's the title of a new morgan stanley note and the analyst joins us for the implications and the retail stocks and that's later on. let's start with the markets and bob pisani to outline the momentum and the trends, bob. what do you see? >> five straight weeks of gains starting out the week on a down note and we are well off the lows and i really see rotation. remember, this has been a big cap tech market through most of the year. guess what's trading

i'm kelly evans. here's what's ead this hour. of t tube and a recession is coming dot scream at the tv, those are the words our economist who says two things are happening athe same time, and there's no escaping it she's here to make her case momentarily. >>> plus, it was our market guest table pounding fat pitch buy, and then came last woke's fed meeting. he tells us the trade, what's chand and what he's bullish on from here. and shares of coinbase have tripled this year with

i'm kelly evans. here's what's ahead. it's the final two-year note auction oh of the year.s it. we'll wring you the results as bond markets look to salvage what was a rough 2023. our market guest is watching one key point he expects to trigger the fed's pivot. we'll tell you what it is in a moment. >>> plus, a big pair of biotech b buyouts today. a look at whether more deal making is on the way and if

i'm kelly evans and here's what's ahead.ghs and bitcoin jumping to a 20-month high while the magnificent seven are underperforming and what does that tell us about this market and who is in the driver's seat of this rally? our guest weighs in on that and where the opportunities are from here. plus mortgage holders are sitting on a record $10.6 trillion in equity, but they aren't tapping it because of high borrowing rates and what does it mean for the overall econom

. >>> i'm john fort in for kelly evans. here's what's ahead.us live to talk tesla and what she's buying. that is just finminutes away. and a third of business is generated in the last six weeks of the year, but will the consumer dlif they are this year? and we highlight the 2023 calls that worked and the analysts that made them. an

♪ >>> hello and welcome to "the exchange" on this friday i'm kelly evans.tushe u.s. adding more jobs than expected. and there's another key number we got today on top of jobs that could be more important for soft landing hopes. we'll tell you what it is and why it matters >>> a fund that can buy everything from blue chips to small caps to high-yield bonds and beating 99% of its

i'm kelly evans. here's what's ahead. yes, a record high for the dow.record for the s&p, and our market guest says the gains can continue. he sees stocks going higher from here. while some pockets look overvalued, there are plenty of areas that are not. we'll talk about which ones. a blowout finish for biotech stocks with the sector up 40% in the past eight weeks. we'll talk to one ceo whos

i'm kelly evans. here's what's ahead.ith tech for 2024, says our market guest not just any tech, but names like names she's been buying that just had its biggest name in two decades we'll ask her what she's bullish on for 2024. could it be the year believe it or not of the metaverse? the world's biggest tech company is stepping into it as a

i'm dominic chu, in for kelly evans today on "the exchange." rate cuts are coming and coming fast. on wall street so far this week, and quite sometime. but one of our next guests sees it differently. he doesn't see any rate cut until the fourth quarter of next year. he sees a significant slowdown ahead for the economy, and given what we just heard from fedex, could he be right?

i'm kelly evans. here's what's ahead this hour.are slumping today. the s&p is back up at levels last seen in july, after jay powell said uncertainty over the economic outlook is unusually elevated and signaled fed officials are done hiking. that's the way the market is reading it. our market guest is bullish but wary of the head winds. and u.s. manufacturing shrinking by more than expected today. we'll look at this tug of war in stocks between wea

i'm kelly evans. here's what's ahead. don't count out a january rate cut. one in january?o happen and what happens to the rally. >>> and a trillion dollars in commercial real estate loans set to mature by the end of next year. it will create pain and opportunity, and we'll check back in with one private credit player with a front row seat. >>> and berkshire's bet on byd

along with kelly evans, we are pushing the chips tothe middle of the table in the ai race for a big event this afternoon, how it will compete with n vidya. we have a live report. >>> and joining the fight against tesla, elon musk calling the strike insane but it could have far reaching impacts for the company. >>> let's get a check of the markets. the dow jones sdraeal average is link clinging to a gain. s & p is in positive territory and nasdaq is back in positive. they have all softened since this morning. >> and business updates today, xauns mobile expects to increase mobile output until 2027. it is exploring opportunities in lithium. it will buy back $20 billion in shares per year. >> interesting to watch that one with crude down sharply today. >>> mcdonald's announcing an aggressive expansion plan, targeting 50,000 restaurants by 2027! up from 41,000 today. the shares are fractionally lower. let's p gin with the big event in san jose. christina is live from the advancing aievent. >> well, amd launching a highly anticipated ai chip. there are two versions, the x i'm holding for cloud

i'm kelly evans.est short position in london today. the name, blackstone mortgage trust. the shares are down about 4% right now. but the stock had a 3% gain for the year before the news hit. it's now turned negative. and block is warning shareholders, here comes the cliff. carson block himself joins us now, fresh off the stage in a cnbc exclusive to make his case. carson, thanks for joining us, and welcome.

i'm kelly evans. here's what's ahead. our guest says not so fast. he thinks the ten-year is headed back over 5% next year and is in the no lending camp on the economy. we'll debate. >>> airline stocks rebounding today, but it's been a disappointing few months for many of them. yet one supplier is hitting its highest levels of the year. that ceo joins us. >>> there are two housing stocks our analyst says are especially well positioned into the new

i'm kelly evans. here's what's ahead on this friday.ecord setting and head spinning week for markets with the dow hitting new all-time highs. but this morning, new york fed president john williams warning not to get carried away with rate cut hopes. we'll ask our guest what he thinks on this. >>> two screaming buys for 2024, india and bitcoin. our guest is here to make his case. >>> if you're worried you missed out on the home builder rally, our guest says there's more up

i'm dominic chu in for kelly evans this afternoon and here's what's ahead.ns of the year and the final fed meeting of 2023 is on deck. any one of these could become a big market event, but if you're hoping it will shed light on when the first interest rate cut could come, there's an entirely different data you should be watching says one of our next guests and it suggests we could still be far off from the fed making that

i'm kelly evans.cuts are coming, i lot them and fast federal fed officials are trying to push that back a little bit and david zervos ss while they have a victory lap, jay powell should tread carefully plus the mart guest says don't let this rally make you chase it, but if you're looking to get in there are two areas that are still cheap and one of them is controversial and that's why he likes it he joins u

i'm kelly evans, and here is what's ahead. showing slack, but when will it be enough for the fed to start cutting? the market thinks march. some are even pricing in january. morgan stanley says june. our economists said something entirely different last time she was on. we'll ask her if today's data changed anything. >>> plus, if you didn't hear this yet, cvs is going to change the way they price prescription drugs. the ceo karen lynch joins us exclusively with the details ahead. they say it will

. >>> i'm john fort in for kelly evans. here's what's ahead. fresh off a chat with elon musk, cathy wood joining us live to talk tesla and what she's buying. that is just finminutes away. and a third of business is generated in the last six weeks of the year, but will the consumer dlif they are this year? and we highlight the 2023 calls that worked and the analysts that made them. and a tech name despite disruption clears, the stock is up more than 30% since that call. the analyst joins with us the name and another one he's bullish on now. but we begin with today's market. that means dom chu has the numbers. >> we have some faction al gain, grown across the screen here. the intraday action for the dow, up just about 0.2 of 1%. the s&p 500, 4764, up nearly one half of 1%. same story for the nasdaq, which sits at 15,022. we are just a stone's throw away for record highs for dow, and the s&p 500 and the nasdaq highs for the year. so we'll see if those levels hold around these particular moves. and speaking of some of the green we were seeing, heal

hi, everybody, i'm tyler mathisen in for kelly evans who is off. here is what is ahead.lation trending lower, the consumer still going strong. so is a soft landing all but certain? yes, says one of our guests because we're already in one. but whether it will last is less certain. she joins us to make her case. >>> the builders have proven resilient and creative amid a challenging housing backdrop. tri point homes, up 65% this year. the ceo will join us this hour on how they're attracting buyers and what they're doing and close the sales and what he sees ahead for housing in the new year. >>> morgan stanley just wrapped up its consumer and retail conference. the lead analyst here with that. but we begin with today's markets and dom chu with the numbers. >> we've seen both sides of unchanged right now. we're at least tilting towards the upper end of the range, as you can see, with the s&p 500 up about 0.1 of 1%, 4627, the last trade there. at the highs, up roughly ten points, down 14 at the low. so you can see maybe towards the at least green end of that range. the dow ind

i'm kelly evans. here's what's ahead this hour. the dow is at a record. nasdaq are touching 52-week highs. yields are down to levels we haven't seen since the summer, but did the fed give wall street the all-clear? our economist isn't convinced. plus, the host heavily shorted s&p stocks are the same ones of double diblgits this month. and mortgage rates, while rents in one key market are falling for the first time in two year

i'm dominic chu, in for kelly evans today on "the exchange." rate cuts are coming and coming fast.t's been the theme out there on wall street so far this week, and quite sometime. but one of our next guests sees it differently. he doesn't see any rate cut until the fourth quarter of next year. he sees a significant slowdown ahead for the economy, and given what we just heard from fedex, could he be right? he's here to make the case coming up. >>> the office sector has been hit harder by higher rates, but it's also been given a rare opportunity. he joins us with what he means by that and now to take advantage of it. >>> and positioning for the new year, our market guest is looking for opportunities. she tells us where and what she's buying with those themes. but first, we begin with the markets right now, which are just about near their session highs right now. at some point today, we did see the dow hit a record intraday high level. the s&p 500 and the nasdaq both hit one-year plus high levels. currently, you can see the dow industrials up about 0.2 of 1%. the s&p 500 up roughly th

i'm kelly evans. here's what's ahead. it's the final two-year note auction oh of the year. you can't miss it. we'll wring you the results as bond markets look to salvage what was a rough 2023. our market guest is watching one key point he expects to trigger the fed's pivot. we'll tell you what it is in a moment. >>> plus, a big pair of biotech b buyouts today. a look at whether more deal making is on the way and if health care is immune from regulatory scrutiny. >>> and tech stocks are on track to post their best year since the turn of the century. but can they avoid a sharp correction? let's start with the markets mostly higher on the final trading week of the year. dom chu has the numbers. >> i will always make time for you, kelly. the numbers are green across the board for the major indexes, the dow, s&p 500, nasdaq all posing fractional gains. about 1/3 of 1% gains uniformally across the three. at the highs of the session, the s&p 500 up roughly 19 points, and up about four points tat low. so generally positive. but the trading range again has been light. the s&p is up

alongside kelly evans, i'm tyler mathisen. coming up, a.i.e of the big stories of 2023, maybe even the biggest. it is not going away next year. far from it. for questions on how to use, it regulated, how to make money off of it, our panel will answer those questions and offer some investment advice. >> and risky business, the ceo will join us. plus, the into impact of tariffs, and what he sees on the trends on the alcohol industry. people choosing marijuana over booze? let's check out the markets. stocks are once again melting higher. the dow, 37,700 for the first time. another new record. the s&p 500, short of their, highs only about ten points. the nasdaq, 100 waited to the bigger names. those record levels themselves, up more than 50% this year. >> the question is not just when will this rally end, but how and, how badly. to bring in more, mike santoli. i'm not sure i like the phrasing of that question. it presumes the rallying must end. eventually all rallies do. it suggests it will end soon. that is by no means assured. >> i'm with, you

hi, everybody, i'm tyler mathisen in for kelly evans who is off. here is what is ahead.he consumer still going strong. so is a soft landing all but certain? yes, says one of our guests because we're already in one. but whether it will last is less certain. she joins us to make her case. >>> the builders have proven resilient and creative amid a challenging housing backdrop. tri point homes, up 65% is

i'm kelly evans. here's what ice ahead.ced in now as markets trade near all-time highs. while some say it's time to question that consensus, there are three bullish catalysts that we could get come january. we'll reveal what they are and whether they're priced in already. >>> plus, it's the potential media merger everyone is talking about, but one guest says it's a big mistake. he has a different idea and says it would make media investable again. stick around to find out what

i'm kelly evans. here'swhat's ahead this hour.. stocks are in a holding pattern as you can see ahead of that announcement. dow is up 15 points. bond yields are down, though, especially after that cooler than expected producer price data this morning. the market is pricing in a full point of cuts next year as inflation has receded rapidly. will chair powell push back on that today or not? let's start there with full team coverage on the economy, the

alongside kelly evans. i'm tyler mathisen. the market started the week with some gain following seven straight weeks up from the major averages. we talk with one market watcher about the big thing to watch for in 2024. >>> and we are watching oil prices closely today. up 3% as tensions heat up in the red sea. bp will stop sending its tankers there. more on the fallout from that coming up. >>> u.s. steel is being sold to a japanese steelmaker for nearly $15 billion. he was still at its highest level since 2011. the stock had been at the dow industrials for 90 years now being sold. >>> but let's also check out shares of vf corp. is the closing company between the anza north they say they've been hacked and will have a material impact. they are as a result unable to fulfill orders. shares are down 7%. we will have more on thi latest cyberattack. >>> let's start with the markets. my next guest says the econo will face a tug-of-war between a goldilocks scenario d an impending financial reckoning. now is the time to buy stocks that

i'm kelly evans. here's what's ahead. yes, a record high for the dow.ear record for the s&p, and our market guest says the gains can continue. he sees stocks going higher from here. while some pockets look overvalued, there are plenty of areas that are not. we'll talk about which ones. a blowout finish for biotech stocks with the sector up 40% in the past eight weeks. we'll talk to one ceo whose experimental heart disease drug sent the stock soaring more than 80%. >>> the ups and downs of commercial real estate. we're heading down south where one area could overtake new york city as a financial hub. before that, let's start with the markets, and dom chu has the all-important numbers today. >> they're all-important every day, but this melt-upkeeps on continuing and continuing. we're still in that santa claus rally area, the last five trading days of the year and the first two trading days of next year. the dow industrials are up one quarter of is%, 37,743. we get to put a star up here, because it's a record high for the dow today. the s&p 500, 4791, up o

alongside kelly evans, i'm tyler mathisen. a huge lawsuit that could have huge implications for the future of ai. the new york times is suing microsoft and openai, claiming its chat bots were trained using the new york times' copyrighted articles. >>> even though the gains are small, record highs are being taken out, seemingly, every day. the number to watch on the s&p is 4818. that is the high set two years ago. we are about 30 points below that level as the index is just turning negative and giving up some of the gains we saw in the past hour. although, stocks are generally rallying as a bond yields continue to fall. a hair below 380 after that strong five year auction last hour. a very strong drop from a few months ago when i briefly topped five. >>> apple getting a legal win in the patent case involving the apple watch. an appeals court ruling to pause that import ban, and tesla shares are higher as the company is expected to post another quarter of record deliveries, that -- but that won't be enough to stop byd. the chine

i'm dominic chu in for kelly evans this afternoon and here's what's ahead. inflation data, the final bond auctions of the year and the final fed meeting of 2023 is on deck. any one of these could become a big market event, but if you're hoping it will shed light on when the first interest rate cut could come, there's an entirely different data you should be watching says one of our next guests and it suggests we could still be far off from the fed making that particular move. plus, sherry redstone reportedly in talks to sell a controlling stake of national amuse ams, but why now and what could that do to the rest of the media landscape? we'll have new reporting on that ahead and macy's shares are surging on a possible buyout offer, but is it retail or real estate that the buyer is after? we'll have the latest there, but before we get going, you may have noticed that your screen looks a bit different this morning. it's all part of a new look for cnbc that we're very excited about. over time we hope it will make it easier for you to understand the market, the

alongside kelly evans, i am tyler mathisen.g up, we are getting ready for the jobs report tomorrow. some signs this week that the jobs market may be starting to cool just a bit. so what to expect tomorrow and what it could mean for the markets, kelly? >>> plus, some big ceos on cnbc in the past 24 hours. we will hear highlights from amazon, exxon, and amd. we will get trader takes on stocks. , first let's get a check on the markets where you can see the dow close to session highs, up 88 points today. it is the laggard. i simply up eight tenths to -- and the nasdaq surging 1.3%. bond deals are happening the tenure for around 11 last check. >>> shares of walgreens boots are leading the dow, up 7%, contract for their best day since march of 2020. the stock is still down nearly 40% this year though, its worst year ever. that is giving the stock very attractive 8% dividend yield. you can see it higher in fact than the stock move today. >>> and the big drug companies are mostly lower today. the white house once again targeting drug o

alongside kelly evans, i'm tyler mathis.oming up, fear of missing out versus the safety trade now that interest rates are up, many people are seeking the safety of bonds, money market funds, cds, treasuries. but those who have missed out on a huge november rally, the people who put their money in those safety havens. >> we'll talk about that. >>> plus, gamers getting a look at the next grand theft auto release. the last version did 1 billion of sales in just a few days. anticipation for this one is even higher. but take stock is lower. steve kovach will join us. >>> a check on the markets before that, though. some red and some green. just in time for christmas. the dow is down a quarter percent. the s&p down 5 points and the nasdaq up 19. apple back above the $3 trillion market cap level today. there you can see it right around that number at 192 first hit that milestone back in june. we're also watching shares of starbucks down for the 12th straight session. and sinking to session lows, we'll have more on that coming up. >>

alongside kelly evans, i'm tyler mathisen. glad you could join us for a monday. stocks heading lower. the nasdaq, in particular, getting hit hard, down more than 1%. so is this just a normal pullback in the midst of a larger round or a sign that markets maybe have come too far too fast, kelly. >> on that note, what does the rise in gold and bitcoin say about what's happening here. gold hitting a new all-time high today, over 22,000 an ounce. bitcoin above 40,000. levels not seen since april of 02. 2. >> and shares of saic hitting all-time highs after that company's results and improved guidance. the company does i.t. for the defense department. we'll talk to the ceo coming up. >> plus, shares of uber are higher after being added to the s&p 500, as we thought it might. stock has doubled this year. analysts think it can still go higher in 2024. we'll get technical support later. >> let's begin, though, with the markets as the soft landing thesis, which has basically been working for the past month is being maybe a little bit tested today. some of the big tech names

welcomto "power lunch," alongside kelly evans, i'm tyler mathisen. coming up, pfizer's effort to join the weight lo parade faces a jor setback. patien quittinthe trial after experienng unpleasant si effects. we'll have the reaction the. the retail ecosystem wita lo on at luxury stocks. yestery we talked about the struggling dollastore, so is the high-end consumer still buying or spending that money elsewhere, on experiences instead of stuff? >>first, let's get a check on the markets. wetart decber th green arrows e dow hitting a w 52-wk high tod. just a couple hundred points from itsll-time high. speaking of all-timeighs, check out gocracking above $2,000 an ounce, and powering higher still. today we hrd frofed chair powell saying talk of te cuts is premature, leavg open the door to more hikes, but generally signaling that the fed may be done. is this the setup for the rally to continue in december? let's bring in bob pisani. >> y know, after an extraordinary november, think about this, up nearly 9%, e setup for december and early 2024 is exceptionay

alongside kelly evans, i'm tyler mathison two topics which have had a major impact on business this year first is generative ai we'll talk to new jersey governor phil murphy about his plans to get the state ready to be a leader in artificial intelligence and senators warner and kennedy will join us as they introduce a bill aimed at protecting the financial markets from ai manipulation >>> plus, retail theft is changing the way we shop as more items are locked away, is it ruining the consumer experience in store? that and a closer look at target's decision to close some stores due to crime rates. >>> but first a check on the markets as the dow is once again hitting new highs. you can see it there after crossing 37,000 for the first time, we're now more than halfway to 38. the s&p and nasdaq also both hitting new 52-week highs today. >>> all right. we begin with the artificial intelligence boom. as u.s. states race to gain an edge in this new technology, new jersey is establishing a new ai hub at princeton university as part of an initiative to make new jersey a national leader in ai and i

♪ ♪ ♪ >>> welcome to power lunch everybody, alongside steve liesman, i am kelly evans.ow making a record high today as the rally rolls on following the fed decision. mark it seemed to be acting as if the fed has thread the needle, steve, you would know better than anyone. controlling inflation and engineering staff landing. can stocks rally on until next year? >> plus we are going to look at on rent prices on real estate. and if we have hit peak rates, but the market unfreeze? donna peoples joins us. >> first let's get a look at the market. and that tao hit the negative, that is gone positive 30 points or, so while the s&p is certainly to the red and the nasdaq down after those monster moves yesterday. >> let's look at the tenure now. we are down below 4% still, yes we are. 393. we had a little bump this morning, brought it back up towards four with the better retail sales. we will talk about that in a minute. and of course to share some intel, the company sets its ground in the chips for a.i. battles. we start with the record market rally following the fed decision. th