cash you have an option. sellers are not thinking they're going to get the sky anymore all cash, there is your silver lining coming in, you're getting that home price slightly lower. >> you bought bitcoin at 20 bucks, now it's 20,000 you have a bunch of money. you live on gibson island. it happens. >> it's all working. >> diana olick, thank you very much that does it for "the exchange." if permitted i will join contessa brewer on "power lunch" which apparently begins right now. >> i welcome -- oh i welcome both brian sullivan and you to "power lunch. i'm contessa brewer. here's what's ahead. the stage is schett. meta shares falling. the result is expected to underscore the turmoil in a digital ad market. could there be more pain for a stock that is already down 60% this year. plus, a record quarter for group

one automotive inventory ticking higher prices ticking lower group one ceo is here to tell us if the car market is starting to return to normal and if there's growing demand for eds brian? >> contessa, thank you very much the stocks are often their highs. the dow is the only major index in the green st s&p and nasdaq down. they were down as much as 2.2% earlier in the day the spread in the three month and 10-year bonds, they inverted interday if that holds into the close, it would mark the first inversion into this part of what they call the yield curve since march of 2020 always like those historical antedotes. seagate, net 5 networks, two of the worst performers on the s&p 500. both with weaker outlooks and questions ultimately, contessa,

about demand. >> brian, meta is arguably the biggest earning after the bell alphabet reported an unexpected slowdown spotify, also reporting slowing ad growth which followed snap's poor sales performances as companies cut their marketing budgets. wpp defied the downturn and raised the growth target so is there a storm underway in the digital ad market? how can investors play that? what are they going to listen for from meta? let's ask experts evelyn mitchell, emarketer analyst and ed lee, "new york times" media reporter and cnbc contributor. great to see you both today. first of all, evelyn, how worried should investors around meta be about what we've seen from other companies reporting their ad sales >> yes so things are a little tough in the digital ad market right now. it's reckoning with a host of

chal loengs including evolving consumer behaviors, difficult macro economic conditions and ongoing effects of apple's privacy changes on targeting and measurement capabilities now these effects can varying degrees of severity depending on the area of the digital ad economy where a major player is operating so meta, for example, has had a harder time contending with those changes that apple made to its privacy policy than other platforms. like google, for instance, because of its reliance on search advertising, which has been insulated from those changes, google has fared better than meta has. so we're certainly interested as an emarketer how meta's earnings come in after the bell as well. >> yet we heard from google things that, ed, probably make

you wonder how it's navigating the digital ad spend as well if companies think recession is coming, they're looking for places where they can pull back. if they think it's not effective to have their digital ads, is that the place they're choosing to slash >> yeah. for sure i think right now with supply chain being an uncertainty, economic headwinds they don't understand where things are going to shift in the next three months, next 6 months, they're going to pull back alphabet and meta, any digital advertiser, it's often bought on a spot market when it comes to digital as opposed to television or print media for that matter where things are bought six months, a year ahead of time sort of on the up front market, digital has been trying to get in on the up front market. it's been a spot market business that tells you and gives you an indication where things might be headed in the next quarter and

reflects the uncertainty i think it's becoming more of a potentially leading indicator as opposed to a lagging indicator i think that's kind of what's shaping out now. >> i wonder also, ed, if it also just is not necessarily reflective of things slowing as also just a change in consumption. we always hear about the tiktok effect it's real. >> right tiktok is the big boy right now or the big new boy on the block in terms of where eyeballs are shifting that also tells you something about how eyeballs have shifted altogether for the longest time google and meta have taken advantage of the fact there's a lag between traditional advertising and digital advertising. marketers were sort of behind the curve in terms of where they put their money. eyeballs had shifted to digital but marketing budgets hadn't there was enough of a gap and delta, meta and alphabet could take advantage of that now we're seeing, you know what,

chances are if an advertiser wants to spend on digital, they are spendsing on it. the pull back is part of the economy. part of sort of the broader secular situation and i think there isn't that delta anymore that they can exploit. >> i don't know, ed, brian, do you think that maybe tiktok is the big girl on the block? i think it's possible -- >> sorry yes. >> i think it's possible that she's -- >> i misspoke. >> why are you looking at me >> i just said the tiktok effect. >> evelyn, help us out here. >> digital ads though, i've always been under the impression that if you are looking to target your add spend, that your digital advertising works because it can be so niche and you get feedback on how effective it is through clicks >> yes, that is absolutely one of the key benefits of digital advertising. the amount of data that historically advertisers have had access to in digital advertising has been monumental.

certainly more than in traditional channels -- >> can i just interrupt? >> yes >> isn't that why facebook and youtube, shouldn't they have more opportunity if you're looking at a broad ad pull back in terms of spend? >> if that were the only thing at play, absolutely, but because we have apple's ett policy changes as well, that is a huge influence in this marketplace. the targeting and measurement capabilities that are available on facebook and on youtube have changed significantly in the past 18 months and the digital ad market is contending with those changes as these macro economic concerns are coming into play. >> it was always my understanding, evelyn and contessa, if you clicked on a digital ad it meant that your mouse button stuck or maybe you had been drinking. i don't know what -- >> yeah. in my experience -- >> they pop up, you try to get to the little x but then they

move it so you click on the -- evelyn, i'm trying to make a serious point in a funny way do we know actually how effective these are? they know i'm a long suffering san diego chargers fan that doesn't mean i'm going to buy a hat. >> yes so there are a lot of different factors at play that contribute to an ad's or a campaign's effectiveness. one of them is the data that goes into targeting that ad and there are a host of different signals that advertisers can use to decide whether you are the person that should receive that ad at that point in time, whether it's, you know -- it can sometimes flieblg our phones are listening to us. >> they are. >> there are a variety of signals that are taken into account in order to arrive at the conclusion that this is the ad that should be served to you in this moment and of course tiktok is a really, really -- it has -- the algorithm that they have at

tiktok is so phenomenal. it's really good at detecting what users want to see and where they are in the journey. >> that's why we say it must be female evelyn mitchell. thank you. ed lee, i'm just yanking your chain. thank you. >> no, i'll take it. i can take it. >> brian >> listen, the chinese government is really good at those algorithms somehow they know what we want remember who owns tiktok technology, by the way, once the stalwart of the market, may be losing its dominant role our next guest says investors should look to energy to protect their portfolios jerry castalini. i may know something about energy we talk about oil and gas all the time here's the problem there's a whole section of the world that says we're not going to invest in oil and gas, esg, et cetera. you can agree with that, by the

way, but if you do, you might be lo leaving a lot of money on the table because there's only one group consistently growing its cash flow and that is energy >> brian, you hit the nail on the head first of all, all we're doing right now is reviewing these big tech company earnings and tearing them apart and trying to piece out what could happen over the next couple of years and we are going pretty far down that road, right? we've knocked these things down a lot. a lot of investors are worrying is there one more shoe to drop i could argue either side on it. i personally think we've washed out most of them what's also missed, the two biggest earnings announcements this week are going to be two companies that you will get very little coverage from exxon and chevron on friday. you talk about things that matter you just nailed it exxon is the global dominant oil and gas player they have operations all over

the world. they are going to report one of their best numbers ever and investors are going to -- they're going to hate the fact that one of the biggest companies is doing this well leading the market, breaking out to an all-time high, as a matter of fact, in the last -- in the last six or seven sessions that is a warning for folks that want to cling to old views of the industry >> not only are you a buyer of exxon. you like hess, diamondback, slumberjay >> sure. it's a picks and shovels things. a lot of people will favor a slumberjay because they are the guys that dig the holes. we have no problem with that it's a global technology leader in oil and gas technology is one of the few areas in energy that could use a huge ramp. you think about all the things,

30, 40, 50-year-old technologies attach to them slumberjay is what you would put on them. the number you would put on them is 50% if you go to a name like hess, it's all about low cost. hess and exxon are the two developers of the world's most profitable oil field and that field just is planning on coming on each year by increment of 100 or 150,000 barrels a day that would put hess as the most efficient producer of oil in the world and the most profitable one just because it's such low cost >> jerry, you know, obviously on that side, the bull case has been known for a while like every stock in any industry, there is a bear case what if we get a global recession? the price of oil, releasing more

oil for the spr. we don't know what's going to happen with the eu sanctions on russia maybe opec does something crazy. who knows, we end up with 60, 50, $40 oil. >> glad you asked that, brian. as far as world recessions go, china is in one. their global -- their oil consumption has already dropped to recession levels because of the pandemic it's unlikely they could get worse, right the u.s. is the second largest oil consumer we are, quote, in a recession as well it could probably get worse, but think of all the sturdy things around the u.s. economy that would push back against a really severe recession i would argue ultimately the recession in global oil demand has been more than made up for by the release of the spr, by the cuts in opec and by what looks like another cut coming in russia so when you think about all the supply that has already been pulled off and the balance of the market even in a crummy

economy. you'd still look for stable to rising oil prices. >> jerry castellini, very good to have you on making the case for slb and big oil players. coming up, group one automotive reporting slight increase in inventories can americans afford new cars as they come back in stock? net gas prices plunging down 40% in the last few months what is driving the decline here in europe? before the break, a look at health care and pharma stocks hitting new highs in today's sessions you've got eli lilly up 2% humana up 1 1/2% and murk up a li 1%

welcome back to "power lunch. declining used car prices required them to sell quickly through that inventory to maintain margins let's bring in earle hesterberg. >> thanks for having me. >> brian's phone is going off. >> i got so excitedtalking about cars i saw the astros jersey.

>> i don't know how that happened. >> it does and then you just roll with it, earle. has something changed where you've seen used car prices go down and you've had to work with that inventory >> we expected used car prices to go down because they were at all-time highs and quite frankly those were unsustainable so we've been preparing for this but when used car market prices decline, we keep a very lean inventory of about 30 days we have to flush that retail out quickly so we can rebase our price level at the latest prices we had to do a bit of that last quarter and we're pretty clean again, i think >> we're talking to a lot of ceos across industries about looking at their business and what it indicates about the broader economy. where are you seeing signs of weakness are there customer patterns of

behavior that you're paying especially close attention to? >> yeah, for sure. and some of these economic factors aren't ideal for retailers, but it's in the more price sensitive parts of the market lower priced used cars now historically that's not where markets have been. it's almost $50,000. these tend to be big pickup trucks, big suvs and luxury brand cars so our business is in a different place right now than it was three years ago in terms of the merchandise we're selling. >> you wonder, earle, if this could be a good time for new car sales. it's counter intuitive typically the banks are tighter

on lending for old cars. you might not be able to get an old loan those could be 10 or 12% depending on age and credit score of the car a lot of people haven't been able to get cars i know people are waiting for prices to come down, driving old beaters because they're waiting. do you feel like there is any pent-up demand in the sis them. >> there is definitely we've been operating in both the u.k. and the u.s. for three years at recession sales level so there is pent-up demands. interest rates have impacted monthly payments they're higher we've seen a little bit of a couple of auto manufacturers buying down interest rates recently not to zero or 1% but down to 3.9% or something like that. we'll probably see a little bit more of that, but there's still an order bank for many of our

brands. >> earle, you made some acquisitions this summer a collision center in lalouisiaa and then what about you? can you still do acquisitions in your environment >> yes, there is that's the best use of our capital but we have to be much more careful with higher capital and higher interest rates. we need to make sure what we purchase is in a great brand and great market for example, this year we have a shift in austin. great brand, great market. we have to be more careful in these kind of market conditions. >> first off, there's two things one, this is your last quarter with the company you've been there forever. congratulations on your retirement you'll probably be at the game coming up soon congratulations on everything. appreciate you being a long-time guest on cnbc. i also would like to ask you about buying habits, about

people buying electric cars. still a lot of questions out there. i've got a lot of questions. what are you hearing from your dealers? people come in is it, i want an electric car and nothing else or do you have people that come in, they ask a lot of questions, maybe do test drive and then go traditional? what's the sales cycle like for the evs right now? >> well, it's much lower in the u.s. than the u.k. the u.k. market's about 14% of battery electric the u.s. more like 6 they tend to be early adopters who are the main purchasers in the u.s. higher income people, higher education level. you know, it's -- it will come as the vehicle availability increases from various manufacturers and some of the price points get a bit lower, but most electric vehicles are still quite expensive for the average consumer >> earl hesterberg, thank you so

much i echo brian's congratulations on your retirement i understand it is new year's eve this year so starting 2023 with a bang. >> is that a nolan ryan jersey behind new is that nolan ryan or was that not the right year? >> maybe justin verlander snuck that in here >> maybe justin verlander snuck that in. i couldn't tell, it had the star on the creamsicle uniform. >> you're good you know your baseball. >> i'm an angels fan and nolan ryan plate there. >> earl, appreciate that. that was probably an angry phillies fan calling me. playing the union card it follows a wave of union members across corporate america. president biden saying he will aid the union group. major chip hazard. we'll lay out the latest

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did on living up to his promises for unions that could be a big factor the race is two weeks from the mid-term elections kayla tausche joining us with this story. >> reporter: brian, major unions praise president biden for prioritizing issues and passing signature legislation. they're deploying hundreds of thousands of volunteers to pound the pavement for down ballot democrats. $15 federal minimum wage the pro act which makes it easier to unionize and better coverage for child and in-home care despite union jobs declining in mr. biden's first year, labor officials point to the infrastructure bill as single prove that more will be coming mark zandiat says funding alone will yield 800,000 jobs, 90,000 will go to unions. i spoke to mary k. henry in between her four state door knocking spree, she said those

efforts are seeing results. >> because we've targeted 4 million voters of color in battle grounds, wisconsin, michigan, pennsylvania, georgia, arizona, in those states we're feeling increased momentum, both on the doors, on the phones, and through text messaging which we know is going to be required to produce record turnout. >> reporter: henry says union members have turned out more voters and the largest national union afl-cio says their members are backing dem candidates in such a volume it could be a decided constituency. >> kayla, union workers, just like everybody else, are getting hit by rising prices who are they blaming you can't speak for all workers but you get the premise of the question who are they blaming for just skyrocketing inflation >> reporter: it depends who you ask, brian it depends, it's seen as the

rhetorical fly in the ointment earlier today i talked to shawn mcgarvey who runs the largest and he knows inflation may sway some votes he sees jobs as important. he sees the numbers are already contracted to build the intel. they're staffed on airport projects in michigan he says the 10-year job security outweighs price sensitivity today although there's no dismissing that it definitely hurts on the bottom line >> for sure. kay kayla, let's get over to that. >> here's what's happening at this hour. as many as 10,000 mourners went to the cemetery where masha amini is buried. other large protests have been reported across iran today is the 40th day since her

death. the traditional end of the mourning period. ukraine's military leaders predicting a difficult fight for driving troops out of kherson. they say they have watched russians for the phi their defenses and reinforce with newly mobilized soldiers. with less than two weeks in mid-term election, president biden says there is a crackdown it will save americans $3 billion a year fingers crossed. back to you. >> right on deck, why are natural gas prices sinking so m much >> and more than expected and ores

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welcome back, everybody. there are just 90 minutes left in the trading day we want to get you caught up on the markets, stocks, bonds, look at global energy markets as

europe braces for winter it's still fall. let's begin with bob pisani at the new york stock exchange. stocks are losing a bit of steam. bob, what's going on >> reporter: we were doing very well until an hour and a half ago. what's happening is tech and consumer discretionary, was on the weak side, moved to the down side look at the five biggest decliners here today alphabet down 8% think about that microsoft down and texas instruments and boeing it swung in a 10% range. that's a 16 or 17% range that's astonishing for a company that big huge volume right there. if you look at this, i said this earlier, you'd think that the s&p 500 would be down 100 points on this, but it isn't. what we're seeing here is some other companies like universal health, visa, bristol myers are balancing off the weakness in consumer discretionary health care is up. it's outperforming right now

if you look at the s&p 500 midday we were up earlier. now drifting lower here on concerns obviously about what's going on with the tech stocks. kraft heinz, visa, mixed picture there. the macro is dominating things 2-year yield is down essentially 4 days in a row and the s&p 500 is up 5% we are moving on macro yes, sectors like tech will move on poor earnings overall it's still macro dominating everything. finally, brian, the vix has been down for two weeks in a row here two big things happening we had the fed meeting we know what the outcome of that is most people believe the house of representatives will flip to the republicans. big move down there in the vix brian, back to you. >> bob, thank you very much. now to the bond market where bonds are getting bought, yields are falling and traders are watching the inversion the inversion part 2

3 months to 10 years >> it's amazing what's going on today, and it's very interesting because if you're a technician or you like to look at graphs, a picture speaks a thousand words. look at the 24-hour chart of january '23 fed fund futures you see the way it popped at 10:00 eastern. that was when the bank of canada raised 50 instead of 75. the numbers don't really matter. what matters is the move and the direction because we're seeing it in every market central banks, especially the ones that have already been on the move aggressively, are now potentially slowing and markets are responding now we had a 5-year auction today. many of the auctions you know, sully, on the weak side. today it was on the strong side. what's notable, not only was it strong, it was on the strong auction on the day yields were down, prices were already up as a matter of fact, we're on pace for the fourth session in a row where we're trading below

the previous session's lows. that is a very big momentum building issue to pay attention to now quickly, three months to tens, i didn't know anybody was paying attention, sully. 24-hour chart toying with inversion. year to date chart, says it all. and finally the last time it inverted well, it was covid basically march of 2020. and the dollar is another compelling reason, along with many in the fx markets, many different charts that are showing the dollar rolling over. on pace for the lowest close since september 14th first time to close under the 50-day moving average since mid august sully, back to you >> we've got bank of canada getting a little bit dovish. bank of mexico getting dovish. we're getting squeezed in the middle energy markets are closing we have the details and the trade. >> brian, oil jumping. stockpiles did rise more than expected although exports hit a

record high and gasoline demand rebounded. wti is up 3% at 87.88. the big mover today is heating oil, which is a proxy for diesel the contract earlier serves more than 7% although it's since pulled back from those levels. stockpiles heading into winter are at record low levels new york harbor diesel prices touched $200 per barrel. last week goldman noting that there should be more focus on product shortages since these are the prices consumers ultimately face rather than the underlying oil itself. now there are a couple of notable movers in the energy sectors today. that's hitting a record high after it rose 300% year over year halliburton on the move following an upgrade to overweight the firm said halliburton will benefit, brian, from higher upstream spending. >> big run from the oil stocks in the last three weeks. pippa stevens, thank you very

much why don't we stay squarely there. we talked about the supply and demand in natural gas. with an unusually warm start to the heating season, particularly in europe, but what happens now? joining us is emily mcclain. don't worry, emily, i'm not going to ask you about the weather because we don't know what's going to happen there, although i will say we've been really lucky one of the calmest storm seasons in texas and louisiana in 70 years. okay that said, why have natural gas prices absolutely collapsed in the last month or so >> hi, brian thanks for having me again so just to start here in the u.s., domestic prices. we've seen prices drop mostly on an improvement in supply so supply's been growing throughout the year and really on a year-over-year basis as well as an improvement in storage inventories. we've seen triple digit

inventory injections and we expect by the end of season to be in a healthy position in terms of storage levels. that's on the u.s. side. on the european side, kind of a similar story. very strong storage injections in lg imports into the region really all year. that's enabled europe to be in a good position plus like you mentioned, the weather's been on our side and we've seen a delay in the winter colder temperatures. >> yeah. i mean, couldn't get more lucky. literally like 62 and perfect across much of europe, emily the thing about europe is that we say their storage is full, which is true, but they don't have a lot of storage so it's easy to fill up. now you have all of these l&g tankers sitting off the coast. some may be considered floating storage, that might be considered extremely expensive floating storage what happens if and when china decides to start buying up all that l&g again

they've been reselling to europe now they just banned that. what if they fully open back up? >> if they do fully open back up and it's mid-winter and we're seeing colder temperature, increased demand for gas, we might very well see prices increasing, possible bidding wars but to the initial part of your question around storage inven inventories, you know, in europe we are seeing very healthy levels they're at 94% in terms of storage targets and we're, you know, seeing close to 100% utilization rates for european regassification facilities there's a classification there that's why we're seeing cargo ships outside of europe waiting for the better price signal. absolutely, if asia is interested in those cargos and willing to pay that price, cargos will be redirected. >> yeah. >> over 2 million pounds of l&g

is tied up in the so-called floating storage which is current. >> which is expensive, emily finally, you know, all that floating storage, all those ships off shore, that's going to be -- i think for the most part that's going to be good news but at the same time it highlights the extreme lack of infrastructure i know some new floating regassification ships are apparently on order or on their way. what are the longer term outlook here for natural gas is it more likely to get 2 or more likely we get 10 in the united states? because they're still paying five times more in europe than we are >> so it's actually positive when you think from a long-term perspective. you know, in terms of investment, we need more investment in infrastructure from an energy security standpoint to mitigate the market volatility that we've seen this year that could potentially be worse next year depending on how this winter season plays out and, you know, the a labl cargos

and supply that's out there. it is limited. so, you know, in the near term we're going to see extreme market tightness, but as we progress through this decade and really through the middle of 2026, 2027, that's when you're going to start seeing a lot of infrastructure projects coming online those projects and technology is going to help to offset and balance markets. it is a positive outlook long term >> building all of those units, infrastructure ports, ships in europe been a huge win for them emily mcclain, thank you very much. >> thank you, brian. up next, between chip shortage and sales to china, the semiconductor industry is raising red ags flto investors we'll have more details when ""power lunch"" returns. us with complicated situations that occur in their lives.

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we're here with more on that >> it may not be all right it's happening the weakness is spreading beyond pcs and mart phones. texas instruments makes them the chip maker was considered more resilient given 62% of its revenue comes from auto as well as industrials but management warned customers they're cutting orders and auto may be the only vertical to grow next quarter. but the rest of the chip market is feeling the pain. the world's second largest maker, a punch of 60%. then you have united microelectronics, they said that they see semi and foundry industry declines coming in 2023 lastly you have data storage firm seagate cutting over what, 3,000 jobs and slashing the outlook. setting the tone for another chip company, western digital.

and it could impact storage at broad com. demand for chip makers has turned sharply lower recently. we know that we've talked about it a lot, but now that weakness is spreading to industrials which means the bottom may not have settled in just yet >> all right so here's what i'm looking at, the chip market, especially for cars, seems like it's resilient. is it. >> seems like it's resilient because it's the only one that hasn't been hit by a chip shortage maybe i should say this is an example of how the auto industry failed in the planning in the heart of pandemic 2020 they cut their chip orders assuming cars wouldn't be purchased by americans across the country. we know, everybody bought a used car, everybody bought a new car. they had already stopped their orders suppliers had shifted that capacity to other companies. when the automakers came in, they were behind in the line that capacity had already been given out to the others.

now they're reaping the benefits gm ceo said they're still feeling it every other vertical aside from auto that's the reason. maybe it's a question of the just in time system. >> what's happening gio geo politically. there are american workers in the chip industry in china the u.s. is saying you can't work for them? >> u.s. persons, doesn't get enough attention -- >> that's why i brought it up, we are the use >> that's why people are watching us, because -- >> we hope >> -- you have people in china, workers. that either have an american education, dual citizenship and they have to decide are they going to give up their american passport -- >> but quickly give us this is a huge story basically they're being forced by who to do what? >> they're being forced by the american government. >> the american government >> correct they're being forced by the american government to make a

decision because they can no longer work on the artificial intelligence related chip. it's a very small portion of the chip population but it affects a lot of people. those people need to decide are they an allegiance with china or come back to america or decide to go your perspective. >> unbelievable. government forcing feel give up a passport to stay in an industry wow. run you through today's trade. up three dog night. >> no. got it be right back. the new iphone 14 pro is amazing. the camera is incredible. and you'll get our best deal. nice, but i can't accept it. unless every business gets the best deal. on every iphone. uh, actually... we already do that. the plumber with the ascot!

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time for "three stock lunch" trading today's mover. boeing, and others cnbc contributor todd, good to see you today. talk boeing first up would you fly it >> hey, contessa maybe. maybe. it's encouraging they missed that eps significantly. rent lowered by 10%. big story, free cash flow. strong reading there only positive once in the last three years. technically speaking to answer your question, near-term resistance, technically speaking

about 158. get through there, i'm interested break it down from two sides defense and well publicized a lot of challenge with fixed costs government dealership, dealer, but i hold two stocks. i think i'd like it better on the defense side lockheed and northrop grumman. commercial side, big orders from alaska rumors of a saudi fund putting in a big order looking at consumer discretionary. industries, people traveling look at the visa report. i'm encouraged. >> boeing off 9 1/3 on the day h next one, hog. i have a special place in my heart for harley-davidson. would you ride >> have you been on a harley >> yes, i have. >> wow okay another one that looks really, really good. a lot of relative strength here. if we can get above 43 looks like a good technical breakout five top there

above all daily moving averages beat estimates and said in earnings report retail lower by 5% in north america because of dee retail dealer inventories. look at earnings presentation, earnings -- sorry, inventories came up. starting to get more supply. encouraged. >> harley-davidson up 11.5%. final name, would you buy it >> i wouldn't. bearish on chinese stocks because underperformance has been in play since 2007. since then chinese stocks specifically kweb and underperforming. no reason to do it, diversify. dollar yuan broke new highs chinese currencies breaking down chinese governments vocal about the evils of influence

don't want many -- but can't happen but notice what's happened with the president an remains, can't touch it. >> todd, great to see you today. thank you. >> thank you all right. up next, elon musk brings in the kitchen sink wee ckn llliteray. 'rba itwo. ancial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com ♪♪ i had a bad relationship with my student loan. the interest was costing me... well, us... a fortune. no matter how much we paid it was always just... there. you know? ♪♪

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tweeted a shot of himself -- walking into twitter headquarters, writing, entering twitter headquarters let that sink in, if you're driving in your car, limpisteni on the radio he's carrying a sink let that sink in i love it pap daddy, like nine kids ultimate dad joke. >> said a beautiful thing about twitter how it empowers citizen journalism people able to deseminate news without bias been clear too much control over free speech. >> you went down a serious road. i had my own dad joke i came up with what i said if you were going to have a 1970s model. right? 1980's model with that video, who would you have farrah fawcett. you laughed. >> i did. >> it worked. >> by the way, can i say one thing i'm watching today

chubb had earnings the biggest global publicly traded property and casualty insurer said we're firing on all cylinders. tech companies grabs headlines what's chubb going right in the risk of neopolitics others aren't >> thank for watching "power lunch" >> both: "closing bell" starts right now. in the face of earnings two of america's biggest companies off the highs. dow barely positive. this is a make or break hour for your money welcome, everyone, to "closing bell." i'm sara eisen look where we stand overall. nasdaq down almost 2%. communications services worst part of the market because of alphabet, down almost 9% meta, sympathy, down 6% ahead of earnings later today warner brothers, tech names, paramount, all dragged into