want an engaging website to boost your business? you're just a click away from five star fiverr talent. hundreds of freelancer skills like web design. head to fiverr.com today and get something started. it is 5:00 at cnbc here is your five @5 could the fed's latest policy decision take some pressure off that gas pedal election night surprises we'll dive into the results and what they could signal for midterm elections. breaking overnight, deere workers refusing the proposal. shares of bed bath and beyond

soaring. consumers feeling the squeeze at the grocery store. the ceo of one food giant says more pain may be ahead you are watching "worldwide exchange" on cnbc. >> let's get you a check on how the money and global markets will set up. if we were to open the dow would be down a little more than seven points the s&p off a hair and nasdaq up about 12 points here the dow closing above that 36,000 mark for the first time and marks the 6,000th point this year after january

the s&p and nasdaq also hitting new highs marking the third trading session in a low key on investor's watch lists today. jay powell and the central bank expected to announce bond buying program and potential clues when it may raise interest rates. looking at treasuries. sitting at 1.524%. the two-year is at 0.54% looking at energy. oil prices new data showing a big build in the united states. wti crude under the tune of 2% brent crude is also lower to the tune of 1.6% that price is 83 spot 33 those getting ever closer. a quick check on cryptos

bitcoin. currently just a tad lower at 62,938 south korea the biggest loser falling more than 1% early trade in europe is mostly flat to start across that region turning to some of your morning's top stories including that breaking news overnight on the ongoing deere worker strike. we have the details. >> good to see you more than 10,000 deere workers will remain on strike after rejecting the latest offer the vote on this latest proposal was much closer than the previous vote with 45% of members voting compared to 10% of the initial plan. the latest offer included 10%

increases and rbonuses. cdc gives approval of pfizer vaccine for kids 5 to 11 years old. >> the approval granted the ftc. they have secured enough to inoculate all 28 million children in this country >> and shares of mondelez jumping. speaking with closing bell yesterday, the ceo expects a number of the company's products to be more expensive next year >> we are looking at input cost inflation of about 6% next year.

you are going to see price increases. stargt off about 7%. then we'll have to see what happens to those different costs. during the year even all the pricing fees would be needed >> citing higher commodity prices as part of the reason for the higher product prices. >> very interesting watching those prices we'll continue to watch those closely. turning to the broader markets now. joining us is ryan payne president of payne capital management you look at the market holistically i understand you have some fundamental and technical reasons to be optimistic >> it is remarkable. we had a huge month in stocks. we saw the nasdaq up almost over 5% we saw the major indices hitting

new highs. the dow hit another new height you would think the animal spirits would be outright now. we are really seeing the opposite i can tell you with our client base with 1,000 families we manage people aren't that bullish they are all waiting for that next shoe to drop. if you start looking at the economic data, you are seeing issues with thesupply chain. strikes happening. labor costs and companies having big issues right now what you are seeing on earnings calls have been a phenomenal quarter of profit. companies beating on top and bottom line. they are all saying we are going to raise prices on you, the consumer if you are raising prices going up, consumers will go less we are at the opposite consumers will buy at the higher

prices the consumer is more price sensitive. we are locked down with covid. people are sitting with tons of cash over $2 trillion since before the pandemic sitting in cash right now that people didn't have before and wages are going up, so people have money to spend. i argue that could drive the economy for a long, long time. that's driving profits and will keep driving the stock market higher i don't think you'll see a correction like people are fearing. >> it does seem like the consumer is pretty strong and they are able to take these price increases in stride. i can't imagine that continues forever if they are not seeing increase in wages. at some point, they are going to

be more discerning and make different choices. >> we are always depending on the fact that americans love to spend more than anyone in the world. the question will come, where prices of goods and services exceeded wages and productivity will be a big deal companies are spending a lot of money on productivity spending as much as possible. you look at the amount of jobs open and the amount of americans that can fill those jobs it is a big, big problem in the short term, yes that is the case you are seeing profits that are fantastic. how long can this last and can the prices of consumer goods and

services come down and stay in check with labor costs that's all going to come down to innovation >> how far can investors make some money you feel good about the consumer and markets in general does that mean the rising tide will lift all or when it comes to putting some work on this market >> lately, you hadn't had to be discerning at all

bitcoin is as good as mine their value there continues to rise at some point, those will continue to burst. those small cap stocks have broken out in the next week or so you want to own on their portfolio. evaluations are cheaper. if we do see some of those burst burst, that's what we saw and they were phenomenal tech stocks did and financials went down really well. seeing money funnel into the market >> thank you for joining us with your thoughts. >> your money's big money movers shares getting hit hard on the

outlook. president biden sending the pick and later, fresh figures on american's holiday plans and how the work from home lifestyle could work more when we return. our sights will take your breathing away. our food will make your mouth leak. and our roads will make you break wind. translation is complex. transperfect makes it simple. our experts help your business succeed. in any market, any language, any industry. simplify global business with transperfect.

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are surging. it isahead of schedule on the stock buy back and will partner with kroger to have some most popular items in their sctore ad online next year the company ceo will join squawk coming up. >> the outlook is short analyst expectations delaying the launch of two new games citing recent changes at the blizzard entertainment unit after they were sued after allegations of gender discriminations, harassment. shares are down. >> and lyft. this stock is jumping. lyft says both drivers and riders continue to return as

night and weekend rides improve. shares tripling. don't miss lyft president and cofounder in a first on cnbc interview on "squawk box." >> still on deck, a beer with ingredients out of this world, literally. the top trending stories coming up next. when you hear the word healthy it always feels a little out of reach. but it's all about the baby steps.

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welcome back a new survey is shedding light on what the holiday travel season may look like and the shift to work from home lifestyle could play a major role on how long americans hit the road seema with some findings >> good morning. covid did change travel plans last year. americans areplanning to make up for lost time with 3-10 americans planning to travel over the next two months over half of travelers expect to spend the same on travel as they did in 2019. 20% will spend significantly more higher income households are budgeting as much as $5,000 for a trip, which is higher than last year. hotel rates are up 40% compared to the same time last year as labor shortages push rates

higher the demand appears to be strong. weekends are averaging 80 to 90% occupancy levels marriott will paint a similar picture around leisure travel. remote work is allowing vacationers to take longer trips. another positive deloit survey found more than half of travelers will add three or more days to their trip they have the ability to work remotely one of the perks of being able to dial in via zoom. >> i was looking at airline prices and wondering if days that always seemed like the hot travel days to leave or come back and if those prices would loosen up because people had more flexibility for me, no luck, yet >> will this work to get back to

prepandemic levels or travelers expecting to spend less in 2019. is that good news for the sector seeing a rebound of foreign travel and business travel. we were expecting a rebound with corporations senting people. that did not happen because of the delta concern. at the start of 2022 and how quickly that will take place and that will be key for hotels in

big cities in l.a., new york and san francisco. >> new york will be back to full normal when business travel concerns >> thank you very much >> let's get a check on this morning's other headlines. nbc's phillip mena with the latest >> big election night. nbc news projecting eric adams will take the lead from bill deblazio to be mayor in new york city the second black mayor of that city >> in boston, it is predicted michelle wu will be the first

woman and minority to become mayor after previously having all white men. minneapolis voters reject policing overall after the george floyd murder a year and a half ago more issues with mental health and others took issue with the wording. the world series sending the ball out of the park cooked on the mound and freeman put runs on the board for the braves up 7-0 with one out to go. >> left side swanson to first the world champions. >> atlanta wins becoming world

champions for the first time since 1995 the brave's fourth title in franchise history. he was named world series mvp. that's it from here. back to you. >> i love to see those sports moments. thank you. getting to today's top trending stories including a beer that has been to infinity and beyond pull am nfts >> we have more. how are you? >> sam adams is releasing the final front year of beer the spirits company will release their space craft ips brewed from 55 pounds of hops that traveled into space on the inspiration four launch. the beer already sold out for online delivery lu be available on tap

and quinton tarantino to get into nfts including clips from pull p fiction, exclusive clip of script. diageo breaks ground on first whisy distillery in china. part of the broader growth as diageo says china is the largest market for alcoholic beverages in the world that beer sounds pretty cool >> that beer from outer space sounds very cool >> i assume the chinese whisky will probably taste the same but i wonder if the carbonation

is any different in the beer >> and i wonder with the nft, this one is interesting. do you keep it for yourself. once it is public domain, it loses value, right >> it loses its cool the exclusivity of quinton himself there. >> that's what i always thought was exclusivity with art and then the nfts came on. the value there, for me. anyway >> thank you very much for being here with us still on deck. tiktok facing another c suite shuffle. follow our podcast if you miss "worldwide exchange," check us out on other apps we'll be right bk.ac

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no signs of letting up prices start to come back. it is wednesday, november 3. you are watching "worldwide exchange" on cnbc. welcome back i'm courtney reagan in for brian sullivan looking at the investments right now. stock futures are just a bit mixed here hardly so in either direction. dow jones off almost 9 points and the nasdaq higher by almost 17 points. the dow closing above that 36,000 mark for the first time s&p hitting new highs. bed bath and beyond shares

surging. we should note there is a big amount of interest for sure which had been dictated before back with top stories. >> i'm back. the founder of tiktok's founder bytedance steps down he announced resignation of ceo in may adding he would move to a

strategy role. now serving as chairman. bytedance declined to comment. president biden has yet to announce fed chair pick. he didn't specify if he plans to renominate current chair >> extending the salt deduct for five years as part of the broader spending package more liberal members are criticizing the potential move with senator bernie sanders calling the move beyond unacceptable >> other people believe the move the other way is beyond unacceptable i guess that makes politics in

this country >> on to more politics on election day in virginia, nbc news is rejecting republican candidate glenn youngkin has defeated the democrat candidate a surprise in new jersey as phil murphy finds himself virtually tied with the republican with the outcome too close to call in a race democrats had long been confident about. more on key take aways the cnbc contributor thank you for being here with us i guess i'll give you the first comment on the surprise in new jersey as we still await the final results. what do you make of it i think democrats were likely to

run as well with local issues. i think we can face a couple of big problems there were local issues there? looking at those results, democrats were facing a historically bad midterm election a year from now, which leads to another problem if they don't want that election to be quite that bad one, they need to get their act together to get these two bills passed if i was a democrat, i would be concerned that rather than take the lesson that maybe voters were looking to change we would dig in and push hard and both these bills collapse. that's not an impossibility i

think democrats have a lot of issues they need to look at. are there things that were, yes, local issues and taxes that is a big deal in jersey but they do have a bleeder effect of what is going on with this big bill that president biden is trying to get through democrats need to do one of these things they need to raise taxes more or pay for them i didn't see anything with their

bill to pass, they'll get smaller. they'll probably not cut anymore programs i get it we want a dramatically larger tax burden given the results we saw last night >> here in this area, a lot of commercials were seen focusing on the governor's view on taxes. taking a sound bite saying, look, if you don't like high taxes, maybe new jersey isn't the place for you. it seemed like it was a point hammered home once again removing the salt cap limit on these states is that really in play

democrats cannot lose. they did much worse in the suburbs. they cannot lose the suburbs they could get swamped a year from now repealing that cap is a really huge money loser a big tax cut for other upper income and wealthy americans, which has not been the democratic message i think you face the problem and what to do about these bills and what will be the central democratic message going forward if what they end up doing is getting tax cuts now to upper income americans this was supposed to be the inequality party this doesn't seem like it is playing so well now. >> both parties have work to do.

we'll see what's to come stay close as we get these final results. >> thank you coming up. funding the key initiatives to combat the climate change. on the ground with the cop 26 summit with key business leaders looking to put their money behind the plan. some other top stories >> shares of zillow taking a big hit after announcing it is exiting from home flipping business cutting 25% of workforce shares down 16.5%. similar story for shares of freshworks sinking since its ipo. results topped expectations, its revenue outlook was slightly lower. taking a big hit down 13%. >> the department of justice is suing to block penguin random house's bid for simon and

schuster merger. "worldwide exchange" is back in just a moment. [laughing and giggling] (woman) hey dad. miss us? (vo) reflect on the past, celebrate the future. season's greetings from audi.

>> the grocery bills are about to become even higher. the ceo of the snack maker tells cnbc he expects cost inflation to juchl of 6% in 2022 due to higher commodities and

transportation issues. issues are global but especially pronounced in the united states. as some main ingredients are hovering at multi-year highs wheat is the highest number in nine years >> what are you seeing right now in the market for things like wheat? there is always some speculation and futures trading. it is just part of the game.

there is some speculation about the inflation. you referenced this company here a lot of other companies are raising prices as well for the same reason. those do have to do with the supply and demand levels a perfect storm with the world economies coming out of covid. not everybody going back to work the range of logistics very difficult with shipping container shipping has gone sky high over the last several months many cases, it has doubled there is a huge increase in cost there. when you look at the production side we've had bad weather in many places around the world. we've had problems with wheat production due to drought. canada had a massive problem

with production due to drought in the prairies and we did in the plains brazil had a drought last year with production of corn and soybeans places like russia and europe have had weather issues as well that have hurt production as well sugar was lost in brazil because of a freeze. coffee lost in the freeze as well really causing production to drop in many key commodities around the world as well i was speaking to one ceo that said he learned about the

weather first because of poor weather. the next producer was vietnam but their ports were backed up those ports were backed up and making it harder to export is that still going on >> oh, yeah. br brazil shipments are down on a year-to-year basis pretty significantly as a matter of fact there has been problems sourcing coffee from vietnam. those problems are expected to continue forcing the government to put the clamp on the population. the logistics issue of the shipping has become a thing as well a lot of containers are bottled up in china and just sitting there waiting for exports from

china to get out into the marketplace again. getting this all sorted out is becoming a bigger task than anyone would have imagined >> showing some weaknesses than before you'll see demand surges and supply dry up. our infrastructure has no close. we see all the cracks under the surface. thank you for joining us today >> on deck, stocks with a holding pattern. laying out what you need to watch in the trading day ahead follow our podcast if you miss us on "worldwide

exchange." check us out on our podcast or maybe the show was so great, you just need to listen again.

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welcome back take a look at the futures pointing to a mix at the open. the flat line. s&p down,down off about 12 points ant nasdaq higher by about 16 investors are gearing up for the fed and shedding some fresh light on that. joining us now, founder and managing partner so great to see you. i know you look at things from a technical analysis what are the charts telling you >> we have pretty wide

breakouts. the russell 2000 index has been topical because it has really run up to new all-time highs it has the potential to confirm the breakout that is what everybody is talking about on the technical front. we had already breakouts in the s&p 500, the dow industrial and breakouts. dow industrials have been working pretty well seeing pretty immediate upside follow through. we are in this period that has positive seasonal influences usually that they carry the market almost all the way to year end typically we have a positive set up for today's meeting. >> what sectors are indicated to continue with strength going forward when it seemed like for a while almost everything was trending forward >> i think we had to

differentiate between market participation or breath and market leadership. the breath has been very strong behind the market. that would surprise some folks you can see that with the index breaking out that's a very broad index. that means a lot of stocks are going up on end dates. that doesn't mean a lot of these stocks are exhibiting the upside leadership power that's where we try to evaluate every day. we are currently overweight, technology, consumer discretionary and financials and that yields will resume higher in the next week or two. to us, that will be the leading sector probably easiest from the breakouts. it doesn't mean you won't get that broad participation that should make it a little easier to take advantage of this up move.

>> i know some of the investor sentiment leaders were showing a little weakness. some of the market participants were not feeling as positive in the past going forward into the end of the year. are you seeing any of that playing out? >> my sentiment gauges are pretty neutral which is some what surprising. you would vo at least some kind of overbought indication from them we don't have that at this time. my sentiment gauges are things like the cbo volatility index. the vix. it is near its lows, it doesn't have indication a volatility spike is eminent i would say it is more conducive to upside than not we do think sentiment will likely become an issue if we see that follow through setting us

up for some price correction that would be more significant in q 1 we have indications on long-term charts comparison to late 2017 that would compare to the s&p 500 and in 2018, it has been a more difficult year and more of a range of volatility >> seeing bullish mow mmentum and following the first quarter. >> walking you through all of that >> to scotland and the meeting of the minds some of the largest global companies meeting as part of bill gate's energy future. diana joining us now what did bill gates have to say about the big oil companies' roll in all of this? >> basically, he was saying big oil companies. you can say it is one thing they

could all divest and big oil companies could go away and it would all be clean energy but that that would be, quote, nutty. you really want them to transition there this meeting was unique. the world leaders left yesterday. venture capital just cannot be underestimated it's in the trillions. we had two meetings. one with bill gates and two men on the very edge of the tech boom, of course. i asked them, on the climate boom, where are you? >> john doerr said we are at ininf inflection point investors will stop at nothing to copy the success of others. bill gates talked about raising $1 billion in his fund for clean energy he called 25 people, 18 said yes

and i was asking each for $50 million. they expect to increase in the money putting towards these. john doerr said climate tech is the greatest development of our lifetime and the seven companies they are calling catalysts. this will be a public/private partnership. bank of america, brtalking abou bringing down the green premium. aaron airlines, black rock, general motors and microsoft >> a lot of talk about bringing down risk. money coming in and how do you get all of this money to the right places especially when you are in that kind of

public-private partnerships. >> talking about brian moynhan, how does he look at risk >> he said you have a certain commitment to going net zero then you have the green premium of how much more it costs to go green. how much can you get in there. he said the risk is substantial and has to be considered when making those deals he said brining down that green premium will lower the risks for the banks, courtney. >> because of the public/private partnership. you can't really depend on the government to pass these things and to get the money they need for investments. how does this move forward is it. >> i asked bill gates.

he said this public/private partnership will be lower in that bill doesn't pass that is $555 billion going towards climate technology and investment in the u.s. they have relationship with the uk and the eu. that is based on money already budgeted the u.s. is not dependable when it comes this kind of private venture but hopeful they'll all get there. >> fascinating thank you for being there to give us the latest >> a quick check on futures here as we move ever closer to the opening bell dow is down almost 15 points nasdaq hire and s&p down just a bit. that does it for us on "worldwide exchange. "squawk box" is up next.

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good morning voters. sending a message electing glenn youngkin as the next governor and even more surprising, news conference governor phil murphy in a race too close to call at this time. >> the feds with a post crisis policy the cnbc endorsing the pfizer vaccine for kids age 5 to 11 first shots are already going into some little arms.

armies and sleevies. wednesday, november 3, 2021. "squawk box" begins right now >> it has within a hat trick for the market three days this week three days you've seen record closes friday, monday and tuesday watching all three of the major averages let's take a quick l