earners is salt. that would raise the cap from $10,000 to $80,000 but we will to see whether that in fact passes the senate. >> thank you robert frank. that does it for "the exchange," today, everybody thanks for tuning in punch picks up our coverage right now. -- "power lunch. >> good afternoon, everybody, and welcome to "power lunch. i'm tyler mathisen kelly will be over in just a second here's what's ahead. financials in focus. president biden to nominate or renominate jerome powell's second term as fed chief bank stocks are higher best day in weeks there as investors place their bets on the central bank's next chapter. and curb appeal. will housing stocks benefit from the fed's inflation strategy in a closely watched strategist will tell us where he sees the biggest gains. and 'tis the season to shop.

the ceo of tanger outlets talked holiday spending, empty shelves, and the doubling of his stock price so far this year. >> hi, everybody a diverging market the s&p 500 up nicely to a new record today, up a third of a% percent right now. nasdaq moving lower. it is down 85 points the dow is up half a percent right now. ten-year yields near the highs of the session after we heard the new fed chair statements powell and lael brainard both speaking if the last hour. oil slightlyhigher as well cnbc reporting no decision has been made whether the government will tap the strategic reserve crude hanging on to a 1% gain so far this season. the big story today is president biden renominating chair powell for a second term

as the head of the fed lael brainard, also being considered for that job, is the president's pick for vice chair. moments ago, president biden explained why he went with powell >> i believe having fed leadership with a broad bipartisan support is important, especially now, in such a politically divided nation i believe we need to do everything we can to take the bitter partisanship of today's politics out of something as important as the independence and credibility of the federal reserve. >> so did the president make the right choice what does it mean for the economy and the future of the fed. bill lee is chief economist at the milken institute fret rick mish kin is a former federal reserve board member are these nominations to make it through the senate >> it will be a breeze to get

through the questioning. what will be interesting will be the questioning. inclusive growth and climate -- everyone on the republican side is going ask them how is the fed going to influence climate and income distribution. >> those questions would be coming from, presumably, the so-called progressive side of the democratic caucus in the senate professor mish kin, what do you see here as bill points out, there is a climate agenda that is sort of native to the progressive wing of the democratic party. and how would the fed affect climate change through its policies or regulations? >> so, i actually think it's a actually terrible idea to ask the fed to be involved in solving climate change problems or changes of -- problems of income distribution, income inequality these are very important issues,

i have strong views on some of them, but it's not the fed's job fix those problems that's the job of our congress and president and so forth there is a huge problem in recent years that the fed has gotten much more involved in areas of the economies that it never had to be in before. it was forced to do so during the global financial crisis. rightfully again during the covid pandemic but the key here in terms of thinking about this is that that's something that's dangerous for them they needed to do it, but they should not do it lightly going into these areas which are clerl political, the fed doesn't have the tools to deal with them it would be a mistake. there is an issue the fed needs to ask arc financial stability issue, whether things climate change, big storms, whatever, could affect financial stable. that's reasonable. but that's not solving the problem. this is very, very dangerous territory. the fed has already been politicized. trump also tried to politicize

the fed. one of the reasons i am pleased that jay is getting renominated is he has been very good at getting the congress and also the president to leave them alone to the extent that he could. he has been very successful in doing so so i think it is critical that these other issues not become part of the fed's mandate. >> bill, what would you add to that what are you going to be watching for now there are still a number of vacancies. >> absolutely. in fact i would say rick isn't worried enough i think my main worry is -- [ laughter ] -- what's powell going to do about the new appointments because i hear echos of jimmy carter he wants to have a deverse board, we could be facing disastrous appointments like miller whose notion of fighting inflation was disastrous a disastrous monetary policy which

i hope we can avoid. >> you have stability there at the top the avoid -- i remember g. william miller. he was immense will he forgettable, truly i mean -- but you have got two veteran policy makers at the top here so it would argue, wouldn't it, bill, that there would be relative stability in monetary policy with respect to the two principle thrusts of the fed, which is jobs and inflation? >> i am reminded of president roosevelt stuffing the supreme court. i now hear president biden stuffing the fed rereserve board. that's what i am afraid of, his promise to the progressive wing will overwhelm his sensibilities for appointing qualified people to do monetary policy. monetary policy doesn't have the tools to address these social and climate problems i am worried even more that the social -- the bank regulator is going to be shifting allegation was capital from banks to climate investments and raising

wages. that would be a distortion of capital markets that the u.s. wouldn't be able to recover from. >> that is a key vacant ethat's still open i was going to ask how much influence the rest of the board can have because congress is the one that dictates the fed's mandate. if the chair and the vice chair themselves aren't interested in pushing in a different direction what difference does it make if three of the other board members might feel differently >> i am less worried about this. the way the institution actually works, the chair runs the show, and the vice chair is important, if they are in alignment with the chair. there is an issue, pointing at disruptive people. this was a danger during the trump era. some of the appointments he wanted to make were terrible in my view. the only appointment he got through was reasonable, chris waller this is the brilliance of

powell, here is trump who was able to get people to question the validity of the election, in the republican party but couldn't get them to actually appoint some of these apilots which were weak, people i don't feel were qualified for the positions. i worry less about this. it is only the very disruptive i don't think that's biden's style. he doesn't want a fed that's dysfunctional. i think with the choice of the chair and vice chair, with the continuity there, i worry less about this i think we are dodging a bullet. diversity on the board is a good thing as long as people who are picked are highly qualified. that's always been true in the past, i think it will be true in the biden administration i am not nearly as worried about this as bill is. >> gentlemen, we have to leave it there bill lee thank you, and frederick mish kin, we thank you as well. now bank stocks are rising as the president renominates

jerome powell to the fed chair the s&p banking etf on pace for its best day in six weeks. the regional on pace for its best day in a month. why is there so much enthusiasm in this sector are they reading too much into these selections >> it is a good thing for the banks. the stocks are trading nearly 50% to the s&p 500 so there is room on the upside for the stocks the analysts are really conservative for next year and i think with jay powell in the seat and what we see for the economy next year, and then the fed moving to a great rise regime in second half, which really fuels higher growth or the banks and net interest and com, things are looking good on the panelist, the other issue of the open seat for the vice chair for regulation, we went to an extreme in the last 24 months

with covid, severe adverse testing. the banks are allowed to release capital. to go to a scenario where they would be prohibited from doing what was decided june of this year would be the bear case. we are more on the bull case, kelly. >> my concern -- i think that's sort of a very sensible story but there is two big head winds that could persist, number one if rates don't really rise on the ten-year, maybe on the shortened. but number two, competition from fintech and defy >> that's true do rates finally rise? we think they will in the second half next year more important right now is the economy is going to pick up. we didn't see in the third quarter for banks the benefit of consumers. they were spending more, but they were paying their loan balances they are going to begin to rise to a normalized level.

we will hear that from bank executives in january. then as you go through the first half of the year, we are also seeing the industry with a very low total loans to total deposits so there is this arsenal to unleash in lending and that's all fuelling non-interest income revenue. the rates is the key, though that makes this group a home run that will strongly outperform the market, particularly as what the market thinks. the ten-year treasury is up today 5% it's at 1.61%. that's a good sign. >> let me ask you, ken, i note that you like b of a, morgan, wells fargo -- you seem to like most of the banks under the scenario that you lay out. two questions then one is, if you do like them all so much, why wouldn't i just invest in a solid etf or specialty mutual fund that follows these big banks, number

one? number two, if you do believe the better indicate to go is individual securities, which of those picks would be the one or two that you like the most >> yeah. and certainly you could just play an etf off the kvw index. >> uh-huh. >> but i would steer investors to -- for large cap opportunities there is two ways to play bank the ones that are in the large capital marketplace like goldman sachs and morgan brennan that don't have the risk torque kelly's question, about if rates don't increase next year then on the intrasensitive play is bank of america we upgraded it today from hold to buy and we like the turnaround story, which is happening even under an asset freeze with the fred with wells fargo. you can play in small mid cap portfolios, pnc, truist, names that will give you participation for those type of portfolios

i think more than one way to invest both in the banks and the financial sector. >> ken, thank you very much. we appreciate your time and insight today. ken leon, thank you. coming up, home sales on track for their biggest year in the past 15. should you stay long housing given fed's inflation strategy that's the subject of a new report we have the analysts behind it. later a crazy day in the nasdaq 100 pulling back from near highs is the index about to break out or break down? our trading nation team will chk e arecthchts

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welcome back, everybody. a new report today shows existing home sales on track to surpass 6 million this year, strongest annual pace since 2006 the strong housing market lifting the home builder etf, which is closing in on new aye highs. our next guest says investors should remain long the housing market and that powell's policy will continue to benefit the sector let's well chris senyak in welcome. when i was learning what little i know about economics is that a little bit, more moderate inflation helps housing and vice versa, housing helps drive inflation. am i right about that? inflation, all other thing being equal, it is probably good for housing. >> hi, tyler, thanks for having me on. yeah, real estate has always been somewhat of an

inflation-protected asset and does put upward pressure on inflation ultimately but in real terms, that does lead to higher wealth because it is sort of the store of value. and so it cuts both ways. >> of course the higher wealth, the wealth effect of rising house races makes people feel more affluence and they spend more where in housing do you find the greatest opportunities now there are the home builders, the companies that benefit from home repair and improvement, home depot or lowes, or furnishings retailers. where do you find the sweet spot or is it across the board? >> it is really across the board, tyler it is obviously the home builders a lot of names there the home improvement names, which continues to be very strong then it is the knock-on effects. there is $200 billion annualized in home equity withdrawals

occurring now. that's 1% of gdp that's fuelling spending in a lot of other high-end areas, rvs, boats, high-end retailers self-storaging where you have to temporarily store your stuff as housing activities continues we will continue to focus on those areas. i think they will continue to be strong housing supplies remain extremely low and that's the barometer to activity across the u.s. >> if there is an achilles heel that could bring this cycle the a close, is it rising interest rates? how high would they have to rise before home buyers would pull back and home values would arrest >> first of all, mortgage rates have not risen as much as treasury rates, longer term treasury rates, so there has been less of an impact on higher rates recently to mortgages.

secondly, i think if the ten-year yield got above 2% you would start to see a slow down effect in housing, with a lag, naturally, as the overall affordable lessens our forecast is interest rates are going to remain range-bown on the long end. and that continues to support housing activity while the yield curve continues to flatten, you know n the shortened. >> that's a different picture, perhaps, than our last guest was painting, who sees rates going up pretty much across the curve. why don't you think they are going to go higher on the long end? do you must mean 30 or just the ten years? >> we think ten years and i don't understand will continue to be range bound. we think the fed is going to continue to be behind the curve, still. if anything, brainard being added as vice chair and several appointments forthcoming leans incrementally dovish next year rather than this year. that's going to put upward

pressure on short sterm rates because the market is going to take the view that inflation isn't under control and ultimately the fed has to act at some point and that keeps the long rates relatively low and range-bown >> chris, thank you very much. we appreciate your time today. >> thank you >> it remains the great rate debate. >> yeah. yeah so much hinges there >> exactly e.e. cummings, wasn't it anyway, a depositly divided market heading into the homestretch are we witnessing a healthy rotation or signs of exhaustion. plus, dividend plays to help you fight inflation. a strategy session for your portfolio is coming up stay with us hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this. your mover, rob, he's on the scene and needs a plan with a mobile hotspot.

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this hour. a short time ago police announce they are pursuing five intentional homicide charges after yesterday's parade tragedy. darrell brooks was taken into custody a short drive from the scene. he drove his suv through the parade killing five and injuring 48 president biden offered his support. >> last night, the people of waukesha were gathered together to celebrate a season of hope and togetherness and thanksgiving this morning, jill and i and the entire biden family and i'm sure all of us are going to play that grace lifts up the victims of this tragedy. >> michael cohen says it feels great to be a free man the former trump lawyer served three years for campaign finance and tax violations for most of it he was confined to his park avenue apartment. plus in oregon are showing what they call an epic amount of

marijuana discovered in five warehouse. the estimated value, $500 million. more than 100 people were living on the site. they were interviewed and then released tyler, back to you. >> rahel, thank you very much. ahead on "power lunch," out of stock i guess marijuana was not out of stock there. for the holiday season, what might be out of stock? with store selves bare, the ceo of tanger outlets tells us what his tenants are telling him. we'll be right back. the best things america makes are the things america makes out here. the history she writes in her clear blue skies. the legends she births on hometown fields. and the future she promises. when we made grand wagoneer, proudly assembled in america,

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welcome back, everybody. 90 minutes left in the trading day. let's get caught up on all the markets, stocks, bonds, commodities, and a pricing power playbook with dividend stocks. we will get into that just a moment let's start with mike santoli down at the nyse a divided market, mike >> yes, kelly, it has been for a while. for a few weeks it has been about the very large growth stocks that drive the nasdaq that's been supporting the s&p 500 to the exclusion of most else today we have a reversal of that look at how we started the day deep value stocks, the rpv, and the nasdaq 100 started out at the same angle, reacting to the jay powell renomination news and

the fact we are in a seasonably strong week. then tell off in big tech, profit taking as bond yields go up a little bit and all the programmed responses of the market is yields go up, we kind of migrate more towards cyclical and value. look at the longer term trend of the big growth stocks relative to the average stock in the market that's what the e-q-a-l shows. that's the equal weighted russel 1,000. that's compared to the s&p 500 in this case you see how we went in different direction and there is a slight curl up in that quality weighted portfolio today. divergence and reconvergence has been the story the entire year another thread over the last kefrl weeks is speculative emerging growth for sale it is a prolonged payback for the overshoot to the upside we had in things like the arc innovation complex as well as ipos you see the same trajectory of

these names as things have disappointed or have gotten too high now tax law settling on top of that migration away from the high valuation speculation emerging growth caps sfo what does next year look like feels like the big question. mike santoli. let's get to the bond market where traders are also watching this fed another lousy bond auction rick >> yes, it's pretty much 0 for 2 with solid auctions todays remember, trying to fit all of these auctions -- we have $117 billion of twos and fives, $15 more billion of fives tomorrow trying to get it down before the holidays usually doesn't go well. at 58 basis points, we are up seven on twos. the other auction have you, the five years, are up eight basis points at 916 we are only up five on

30s. that drives home the point about the flattening it isn't only about flattening yield curves, which has been a big feature of the market as it tries to tell the fed what it wants. look at the difference between our yields and the european yields it has gone in this month alone from 166 to 191, 25 basis points that is huge when we talk about the dollar index making fresh 16 plus month highs what we really should be showing is the euro versus dollar making 17 month fresh lows what's going on with covid in europe is playing havoc, of course you cannot only see it in the dollar side. luke at the euro versus the swiss. swiss, traditional safe haven currency it is now at a six-plus year high against the euro. back to you. >> those playbooks are coming back rick, thank you. now let's look at oil, closing for the day as energy leads the markets, up 3% but quiet on the spr front this

afternoon. pippa stevens with the latest. >> that's right. oil rising today attempting to claw back some of the losses from four straight negative weeks. crude is headaching off skbreeio political and covid concerns as the market looks ahead to the upcoming meeting between opec and its allies wti is up 1.1 at 76. 1 brent crude at 79.73 for a gain of 1%. the biden administration's next move also in focus as you said, an msc spokesperson telling cnbc no decision has been made on tapping the strategic petroleum reserve and that the u.s. continues to work with other energy consuming nations. despite the recent deline for oil bank of america is sticking by its call for brent to top $120 by the middle of next year saying strong global air travel will support prices. they see brent averaging 82 in 2022 and wti at 92.

our next guest says inflation pressures may not be transitory and he is focusing on stocks with pricing power that hadv a high dividend michael of clear water investments joins us how attractive do you think dividend stocks will be going into next year >> broadly speaking in an inflationary environment dividend stocks can be a great place to look for income contrast that with fixed income where obviously yields don't go up over time inflation is eating away at your purchasing power we like the idea of equities and dividend equities to pass on some of the growing earnings and growing dividends. >> you have some favorite blue chip names here. who are your favorites >> there are a lot of chunlts. as we think about how to position for inflation we think about what we want to own and what do we want to avoid or reduce exposure to

we want exposure to banks and energy banks, we inspect in an inflation environment that interest rates will rise and drive higher earnings growth for banks. on the commodity side we see energy prices going up a lot, which should drive solid earnings for the energy companies. we think those are good places to be. the other part is pricing power. we look a lot across the sectors and across our portfolio looking for companies with the ability as their costs are going up to raise their provides to their end assumers so they can maintain profitability on the side of stuff we are trying to avoid or reduce e exposure to, as we shift into the inflationary environment we are coming out of a period where growth stocks have done very well for a couple of reasons. first off, they delivered fundamentally. the financial performance is great, strong revenues, strong earnings growth, and so the stocks deserve to be rewarded.

but if interest rates were to rise significantly you could see pressure on higher growth stocks which make investors want to reconsider their exposure there. >> now we are back to the old where will interest rates go argument dividend yield is still attractive i don't think anybody would turn it away but what would you say to those who are more dovish on rates? >> i think you are exactly right. people have been talking about the potential for rising rates for some time and it hasn't happened sort the boy who cried wolf. i make two observations. one is it seems we are in a different environment. we are seeing changes in costs around the economy and so that does seem to be different. the second thing i would say is, though, it is important when you are looking for investments and thinking about positioning for rising rates, where there is an option to benefit on rising rates but it is not predicated

on just that we like a company called williams in the energy space which is a natural gas pipeline company, the largest pure play natural gas pipeline company it pays a 6% dividend today. very attractive up front yield with what we are seeing in the energy markets we expect strong growth in natural gas. so you are getting a 6% yield which we think will grow nicely over time and we think natural gas plays a role in the energy transition going forward from a fundamental perspective and esg perspective, natural gas is the place to be fundamentally we expect a lot of growth in in a garl as increasing natural gas is required to replace coal or others in the energy space that will draw a lot of fundamental growth from the esg perspective, we think natural gas could help displace coal and oil. >> absolutely. i think we are all learning more than ever about the characteristics of each of

those. michael, thank for your time today, we appreciate it of michael clark. check out the nasdaq, hitting an all-time high, then turning south. we will ask our traders whether that is a warning sign. christmas is just about a month away first up, black friday is that still a thing? we will talk with the ceo of tanger outlets about that, the aypply chain and much more st with us 32 days until christmas.

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countdown to christmas is on 32 days to go, this friday, of course, black friday, traditionally marks the official start of the holiday shopping season that month between thanksgiving and christmas has always been a make or break time for retailers. but the question this year, will shoppers go back to the malls or boost their online shopping? tanger outlets owns 36 shopping centers across the country the stock has been on fire, up 136% over the past year. with us now, tanger outlet's

ceo. good to have you withes. the stock is doing very well how about customer traffic and vacancies? take us through the numbers. >> first of all, thank you for having me on, i appreciate it. >> you are welcome. >> customer traffic is definitely rebounding. in i -- i guess the best comparison is to go back to 2019, which was a great shopping year our customer levels are above the 2019 levels. as far as occupancy is concerned the stay-at-home mandates were lifted about aier or so ago. the shopping center retailers came back so quickly to our platform, stores reopened, and it just really underscores how important the outlet channel is for these national retailers. >> is the tenor of your center changing is the mix of stores and food operators changing >> i think we did some work over

the last year where we got space back that we didn't anticipate the pandemic accelerated some of the bruins zps some of the brand-wide restructures. we went out as a team and leveraged our general managers to do local leasing when others weren't getting out. what we found is a lot of the iconic brands in the markets that we serve, restaurants, quick service, and even in some instances sit-down restaurants have become more important to our mix over the last year those are brands that are going to stay. in fact we are seek out these brands to add to the shopper amenities to the center. it brings in a new customer. and gets them to stay there. >> i wonder if they think they can get a deal, if they go to a top-notch restaurant in tanger maybe 40% off or something tell me about the elf on the

shelf thing. >> well, we have learned -- and if you look at the numbers it will support the fact that it is a younger consumer getting back into the shopping centers at a rate quicker than older people we are finding that if we bring more amenities, more services, more brands that these individuals like, then we certainly -- we see them shop with us more frequently. they will come out we communicate with them in a way that they are used to receiving information, through social media and through our website. elf on the shelf was birthed by our field director of marketing, brought the program in as an exclusive to tanger outlets. essentially what it is, in each of our shopping centers, a customer will come into our customer service managers or shopper services, they will get a book it is a skachber hunt book, an activity book. we have at least 12 he was

hidden in each of the shopping centers. once they find all the locations they go back to shopper services and redeem for prizes, prizes targeted towards the kidsand additional savings for the families. >> you mean the elf doesn't come from the north pole? you are kidding, you secret these echls around good luck with the elf i think it is an interesting thing of the it will move people throughout locations throughout the mall i guess that's what it is all about. steven -- go ahead, finish your thought. >> that's right. we strategically place them around the mall to get people around the shopping center, they are taking selfies at different installations. it becomes an all-inclusive event and people are posting on our gramm or tiktok or other social media. >> right. >> and like i said, that's how younger customers are consuming information now. >> steven, thank you very much and continued good luck to you

of tanger? we drove two hours yesterday to walk across a bridge is he we will do anything. still ahead, the qqqs are reversing course midday. we had a record high on the powell nomination. but now they are negative. is it a buy on the pullback? our trading nation team is on the case next. minutes until we . oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ when it comes to autism, finding the right words can be tough. finding understanding doesn't have to be.

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welcome back to "power lunch," i'm seema mody, the nasdaq 100 reversing gains after hitting a record high. roughly one fifth of the index is trading at new highs. apple, continuing its rally from last week. can tech continue to perform with fed chair jerome powell still at the helm. we welcome in our guests how do you think technology companies get around higher rates come next year at time when many of these stocks are trading at 52-week highs. >> it is interesting to see because i think short-term there may be volatility but there are so many factors moving in the right direction for the nasdaq and for the tech companies you know, the confirmation of

chairman powell creates some stable there is so much money on the sidelines, which also helps drive the factors higher but also we are in the middle of a technological revolution that i believe is going to continue for the next five to ten years and lastly, you know, you have the undervalued non-tech names on the nasdaq that are performing quite reasonably well and they are going to continue to perform well as we see the shift from growth to value while the major tech names that make up so much of the nasdaq are moving in a positive direction. so ultimately, it's a little hard for me to even believe i am saying this, but, you know, we are looking at higher nasdaq 12 to 18 months from here just because there are so many factors moving in a positive direction. >> that's interesting, michael saying he is looking at the undervalued names. despite that, you are sticking by apple, really the outperformer over the last couple of weeks within technology tell us why. >> i think apple is just getting

going again. i think that really tells a story for the index overall where you have the largest component. apple, breaking above its september peak marking a resumption of what was a larger breakout of these to that and it's been the same story for the nasdaq 100 overall technology sector. high growth benchmarks and the attrac attractiveness is producing the steadier returns in the cycle. tech is able to participate with the market keep pace when we have the cyclical upswings and hold up relatively better when interest rates have been stagnant which is what we have seen for much of the last few weeks. >> different areas to put the money to work.

thank you. for more, head to the web soot or twitter. this video is one esch is talking about today. isaiah stewart getting it with lebron james look at that i didn't see this video. been told about it it was quite a melee last night. lebron elbowed him in the face he's not the only nba player going after the king we'll hear from enes cantor calling out lebron over china next on "power lunch." >> and now the latest from trading nation.cnbc.com and a word from our sponsor.

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welcome back to "power lunch. shares of ev names today the unprofitable ones sinking. rivian blink charging hit nikola and lucid down as you see there. do we have others? no

i guess that's it. >> that will do it as they say. enes cantor spent the weekend blasting lebron james for valuing money more than morals and michael jordan and american companies for turning a blind eye to china ea eamon javers has more details. hi, eamon. >> thank you enes said he got death threats this weekend after the game and said no blowback from sneakers critical of the chinese government will keep him from standing up for human rights and criticized american companies for a double standard on human rights. >> if you see the example give you. nike you know what? they stand with the black lives matter here in america and latino xhoontd and no asian hate but if you see what is happening

outside of america they are scared to say anything because they care too much about their item sales all over the world. >> he said that he worked with the fbi on the personal security and that the bureau gave him a panic button to summon law enforcement within a few moments if he felt he was in danger. >> i don't want to say i'm used to this threats because obviously you can never get used to death threats but i feel like in america i'm trust i trust fbi and the police department but anywhere else outside of united states it could get very ugly and dangerous. >> and i asked kanter who he is working with on this he said a range of human rights groups and many people he said don't want the names publicly known because of the threats they have received i asked him what he hopes to

achieve. he wants american companies out of the region in china where the people are abused as an ethnic minority and wants companies and countries to boycott the 2022 winte winter olympics in china. >> he wrote about it in "the wall street journal" in an op-ed and doves with the tennis community concern over the disappearance of peng. it is not just one aspect of behavior but broadened to more than the basketball community where he is shining a light and williams and others are tweeting about it. >> that's right. he did mention that case in particular where that tennis player appears to be possibly disappeared or under chinese government control and murky and he said he applauds the tennis community response and wishes the wider sports world would

approach the situation and said companies are too afraid to really speak out with any clarity he feels in termis of human rights in china. they're not doing that in china because they know they're not going to lose the business opportunities in the united states they will lose them in china and there's a lot of money at stake. the question is, what is the appropriate role of american corporations in a global world where human rights is one issue among many to consider do they have a special moral responsibility because they're american companies are these capitalistic entities to try to make as much money as they can >> does his issue with lebron go back to the controversy a couple years ago between daryl morrey of the rockets when he commented

about chinese human rights it was hong kong was the context. the crackdown in hong kong and china basically said no nba in china this year. does it go back to that? >> huge blowback on that issue for the nba and now with lebron is that enes canter said he thinks lebron is too concerned about money and not morals and not taking a strong stand on human rights in china. lebron was asked about the criticisms over the weekend and lebron said he won't give energy to enes canter and said that he walked past him in the hallway sort of accusing kanter of not discuss this man to man but enes said lebron waughed past him they don't see eye to eye. >> very quickly, kanter's life

is put at risk by turkish authorities and has such heavy security right? >> he's said that the turkish authorities, criticized the turkish government, as well why that could be one vector of the threats that are incoming and said he's working with security and fbi and local law enforcement on it. >> thank you for watching "power lunch." >> "closing bell" starts right now. directly at this moment both an enormous potential and enormous uncertainty of the economy we need stability at the federal reserve. >> hello and welcome to "closing bell." i'm sara eisen here at the new york stock exchange. president biden's powell pick sending the dow and the s&p higher welcome. >> i'm carl quintanilla