diversified revenue mix, great free cash flow, break-evens are at $45 oil so they're minting money and returning it to shareholders >> and josh brown? >> i said a lot about uber already. want to use the balance of my time to say rest in peace, takeoff of amigos, 25 years olds >> thanks for being here with the "halftime report." "the exchange" with brian sullivan begins right now. and welcome to "the exchange," everybody i am brian sullivan. here's what's ahead. in just 25 hours, the fed will announce its decision to raise rates. that means your borrowing costs, from everything from credit cards to car loans are likely to go up. we'll take a look at the impact on your money. and another big event with implications for your money. that is the midterms we're going to break down what happens to money and markets in each of the three scenarios, a blue wave, a red wave, or a mixed congress and we're going to get you ready for more big earnings reports coming up. we've got the story, we've got

the trade on both amd and airbnb we've got all of that ahead. but let's begin with these markets. and we are not seeing a big move we wouldn't expect a big move ahead of the fed you know that by now the fed is actually meeting today. the rate decision comes tomorrow these are two-day meetings we're seeing the dow down 0.3%. that's totally normal. everybody is in a wait-and-see mode as well better than expected jobs numbers through the jolts data as well. let's talk about technology, apple, amazon, alphabet, aaa, as we'll call them. they're all down right now, although you heard dom hit the news about meta and snap on that interview. we'll get more, i'm sure, on tiktok and those stocks right now. amazon is down 5%. apple down 2 alphabet down about 3% we've got a big deal in the pharmaceutical space johnson & johnson says it is buying a biomed for $380 a share in cash. that is a 51% premium.

look at that if you own abmd, congratulations. you're having a very, very good day and probably a very good year meantime, chinese internet and casino stocks, they're also rallying that's on chatter that the government will begin relaxing, just chatter, this is not known policy don't want to be mis or disinformation but there is information coming out of china that the government may finally start to pull back on that zero-covid policy. we've heard this again and it hasn't worked out, so just be careful. right now, those chinese internet names, they are all moving almost exactly the same all up 5 to 6% the big earnings winner of the day, i shouldn't say earnings, results, no earnings uber the company reporting a 72% jump in revenue the customer spent more on rides and food delivery, gross bookings grew 26%. but again, earnings imply profit, not the case but still, market likes it earnings, uber, up 13% there all right, those are individual

names. let's kick off the hour with the market event, not of the month, maybe of the year. that is the federal reserve, 25 hours from now, we're going to know how much the fed is raising borrowing costs. and what it is saying about the path of rate hikes ahead but there is also another story here, sort of bubbling up under the surface. and that is confidence or lack of in chairman j. powell steve liesman has the results of the latest cnbc fed survey what did you find? >> confidence declining in the fed chairman as he sets to raise rates by 75 basis points for a fourth time. a sign in itself that policy was behind the curve the fed misjudged inflation and the chairman kept policy too loose for too long the results, very low grades to respondents to the latest cnbc fed service. a b minus in leadership, b minus in communication, "d" plus on economic forecasting and a "c" on overall monetary policy

overall job performance declines from a "c" from a "b" minus, and they liked him a whole lot when he was pumping up the system recession like up from september. but 58% say it will be moderate with 39% saying it will be mild. all of this comes while the survey shows that the federal reserve hiking rates 75 basis points tomorrow, 50 in december. that's the pivot that they're looking for. en route to a 4.8 peak rate that it holds for 10 months brian, a long way to go, assuming that 480 is that top rate, brian. >> listen. tomorrow, steve, i know we watch the number i understand that we'll be there up 75 basis points or, you know, a half a basis points or 50 basis points, a half a percent how critical is the statement and what we hear i mean, that seems to be where

ever everybody's focus is >> powell has to walk a bit of a knife's edge tomorrow in the press conference tomorrow, brian. he has to say, maybe we are going to go down and reduce the 75s to 50, but -- not make the market believe that they're going to stop at the current rate or about to pause rates they're still going to be hiking i think that's still going to be the message. a little relief on the pace of rates, but i don't think there's much relief coming, brian, in terms of how far the fed goes. i talked to some people today, 450, 494 is the current peak rate in the market, 480 in our survey it's not crazy to think about a 5% funds rate if he doesn't get inflation under control. >> i think it was jpmorgan yesterday saying if the fed does pivot to dovish, that the stock market could run 10% we'll see. steve, i know you're not going to sleep for the next 25 hours, so we appreciate it. maybe next 30. appreciate it. >> thanks, brian all of this coming as we have had one of the best months ever for the stock market. some much-needed relief in what has been a brutal year for anybody invested in pretty much anything outside of oil and gas.

and our first market guest today says, stick with what's winning. joining us here is mark smith. he is senior vp and portfolio manager at wells fargo advisers. mark, good to have you back on we talked before i know it was maybe a month ago. you said you liked energy. holy mackerel, what a rally we have had in oil and gas stocks in the past 30 days. i mean, you've done well for the clients. are you starting to get a little nervous they've run too far, too fast or are you sticking with it? >> thanks for having me on, brian. i think that energy going into the winter is going to be -- and having a war in ukraine, i think will continue to run and let's not forget, you start off the segment talking about china. china is still in lockdown i don't know why, but if they -- that's the case, when they finally get back on, they're going to have, i think, a tremendous more demand coming out of one of the largest economies in the world that's why you have to be in the energy sector. but the sector i like the most, and i wish i could pound the table on it is the financials.

this sector is prime to make money in a rising rate environment like we're seeing. we're going to see possibly 75 basis points more out of the fed is going to raise tomorrow and so that should tell you that the financials are going to be one of the biggest beneficiaries. net interest margin, all the money they make on mortgages, credit cards, et cetera, the financials, i think, are also undervalued compared to a lot of other sectors out there, historically even going back to '08, '09. for all of those reasons, financials are a great bet as rates go up, you'll see this sector shine >> china, you're bringing up a critical point their energy demand has been well down, because we know why, when you shut down a few cities with 20 million people in each one, that's what happens if china says, you know what, the population is angry, we've done enough, let's reopen, it's winter, their demand booms what's going to to u.s. companies, u.s. energy

companies? >> i think they'll continue to make record profits. you can't have the price of oil go over $100 and stay there for months on end and not have these energy companies make money. so, in that scenario, you want to own the xle, a broad swath of all of these energy companies out there, because i think the demand will be increasing. and god forbid something happens to russia, where they start really tinkering where they already are with all of the energy going to europe you might have a series issue there from a supply standpoint and that would rise prices >> yeah, i actually got the numbers this morning, because i'm going back to europe it would take 588 shipments of lng to make up for what has been lost by the nordstream pipeline flows for next year. that is a lot of lng a lot of that will come from the united states. let's go back into financials. financials, mark, there's like wells fargo, you may have heard of them. they're a gigantic bank, and you

have mom and pop banks with three branchs on the corner and a microcap stock what kind of financials do you think are going to outperform? >> right, you want to be dive diversified. but i do think that the large banks are going to do the best because of all of the different ways that they can make money. again, a mom and pop bank with these regionals, i think they'll do well and i think if you look at the charts, there is some opportunity there. but when you think about being diversified and having multiple streams of income from any one of these large banks, continue to do well with rates this high, you want to own them and nothing against the mom and pop banks, but when i invest my money, i want to go with the safer bet, and i think it's the big banks. >> mark smith, wells fargo advisers, great call on, by the way, oil and gas a month ago because those stocks, pretty much every one of them has run up mark, congrats appreciate it. see you soon thank you. all right, on deck, call it

semi-conductors and staycations. amd and airbnb set to report their numbers out to the bell. we'll tell you what everyone is looking for in earnings exchange, but first, we are one week away from the midterm elections, and business is on the ballot, especially in the battleground state of nevada ylan mui is in vegas where inflation is still front and center for voters. ylan >> reporter: there are a lot of poll numbers coming out in nevada's senate race, but the real number that you need to know is right behind me. $5.09. that is the cost of a gallon of gas here in vegas and it's fueling voter outrage. we'll tell you more on the sch exchange, coming up. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are?

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welcome back to "the exchange." let's talk the midterms. polls indicate that the house of representatives is likely going to switch back to the gop. the biggest question people have is by how much but the senate is a very different story. and while everybody seems focused on the super-tight and contentious races in pennsylvania and georgia, what's happening out west may be the real story, that is in nevada. ylan mui is in las vegas with

what may be the most important senate battle right now, which is not getting the attention, probably because they're on west coast time >> reporter: that's right, brian. nevada might be republicans' best chance of flipping a blue senate seat red. the incumbent, democratic incumbent cortez masto is locked in a dead heat with adam laxalt. he is up 0.6%. so when we talk to voters here on the ground, what they told us over and over again is that the price of gas is one of their top issues and in fact, some people aren't even filling their tanks all the way up >> that's pretty expensive i haven't even filled up my tank to even know how much it is around gas prices at this time >> obviously, i have my primary job and on the side, i do uber's but the majority of the money i make is going towards my tank.

so >> i pay $15 too expensive. >> nevada has the third highest gas price in the country, and at many stations, the price is over $5 a gallon. brian, thrice deep skepticism here over whether any party, whether it's republicans or democrats can really do anything to bring these costs back down >> we don't get a lot of coverage on the nevada senate race on the new york channels. are you going to tap some of that nevada oil and gas out there in the desert? what are they saying >> so we were at an event yesterday with senator cortez mastro, and she tried to focus on the measures in the inflation reduction act and when it came to gas prices, she tried to point the finger at big oil companies. she accused them of profiteering

s and price gouging. adam laxalt says the fiscal stimulus we have seen so far has been absurd and his way to cut spending would be to cut government spending and keep those tax cuts in 2017 going >> ylan mui out in las vegas and if you shift a little to your left, our viewers can get a look at that $4.99 a gallon sign $4.99, cash, $5.09 credit, although it is, you know, in the downtown area. ylan, thank you. all right, so let's dig in on what the midterms mean for your money. because your next guest research really is a must-read on wall street, and he's laid out the impacts of the three possible scenarios. a blue sweep, a red sweep, or a

mixed congress let's bring in chris krueger he is managing director of the washington research group at keown. chris, okay, before we get to the scenarios, something in your last note caught my eye, and it's not your grateful dead or fish lyrics you're always throwing in there. you actually said something nobody has ever said as goes maine, so goes the nation talking about the gubernatorial race for maine what the heck are you talking about? >> well, as a native vermonters, it's always good to get some new england references in there. you have a handful of races in new hampshire, but also the maine gubernatorial election right, there is an east coast bias in all of this, but that's mainly because the polls close a lot earlier and they count the vote a lot earlier if the maine gubernatorial race, paul lepage, the former republican, looking to get his job back, if he is close in that race and/or winning that race

and/or a handful of these other republican congressional candidates are close or winning in new england, that's a pretty good indicator that the red wave is going to crest all the way, roll all the way to the pacific throughout the evening >> yeah, but it doesn't look like lepage, the republican, has much of a chance >> stranger things have happened what we tried to do, just for investors at keown is put together a handful of bellwether races. and it's not even so much if lepage wins, it's, is it competitive, is it close you can make inferencesfrom that because a lot of these bigger races that folks are focused on, are going to take a long time to count. whether it's pennsylvania, whether it's arizona, whether it's wisconsin so the -- we wanted to put together a couple of bellwethers, give people a sense of what to watch for when the vote stops, right? because it's -- it's not one

week from now when the election begins hopefully that's when the election ends. by tomorrow, we will probably have about 25 million votes already cast >> and that is the big thing we forget how many votes, maybe a quarter of the votes, because they say this could be the most voted on election of all time. which is good. that means democracy is strong and we're happy to hear that mast the likelihood we won't know what happened in georgia for a long time? >> well, georgia just like two years ago, could well go to overtime, if no candidate receives 50% plus one of the vote, you have a runoff on december 6th there is a libertarian candidate in georgia who could easily get, you know, low single digits that would prevent the two primary candidates, senator warnock, the democrat, and herschel walker, the republican, from breaking 50%. so just like two years ago, we

may be going to overtime in georgia. >> what's the most likely ultimate outcome and what does it mean for the markets? >> from a market standpoint, what really matters is not do you get both house and senate, but do you get one because which seems the most likely both house and senate flipped to republicans. from an investor standpoint, that means for the next two years, tax hikes are off the table. and increased fiscal spend is off the table. a lot of apprehension about future fiscal spend from market participants, just because that will make the fed's job of taming inflation all the harder. so we're back to divided government, and we're back to, you know, investigations, impeachments, et cetera. but on the big macro items that investors care about, that should be pretty welcome news for investors. >> there was a story out today

you're a vermont we are, they probably get their power and light from eversource, which is the biggest utility. e eversource's ceo just sent a letter to the white house, basically asking for help with natural gas, because they have a real risk of running low or out of natural gas and the thought of a winter in burlington, where the heat doesn't turn on because your utility's out of gas is not only terrifying, it just seems impossible in the united states, in the year 2022, but it's a real story if we get a red sweep, do you think there will be meaningful change to energy policy, where you might get some pipelines in the northeast, so dwryou don't e to burn wood and trash to make power, which is literally what they're doing today? >> well, you still have -- in terms of energy policy, you just passed the reduction act, $300 billion plus in tax credits.

what didn't get done was senate m manchin's energy permitting reforms. depending on the margins in the senate, that is something that will certainly be on the agenda. it will also probably be on the agenda in the lame duck, when congress returns in two weeks. about ten bills in that lame duck and the way congress typically reacts in situations like that, so that's something certainly to keep an eye on in terms of the energy space >> chris krueger, you know, i remember the maine from like 1898, but i've never heard, as goes maine, so goes the nation watch in maine, always unique insight. appreciate your views. thank you very much. >> great seeing you, brian coming up, recession not in travel, apparently if ceo of wyndham resorts is coming up. as we head to break, let's take a look at the dow heat mark with stocks pretty split. chevron oil and gas, oil is up today, oil and gas stocks are up

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all right. become back to "the exchange." let's get right now to julia boorstin for a market flash on tiktok, snap, meta this is a really interesting developing story, julia. >> indeed, brian shares of meta and snap are trading higher right now we see meta platforms up over 4% on a report in axios that fcc commissioner brendan karr says that cifius should move to ban tiktok karr telling axio of recent relations that tiktok and parent manager user data. quote, i don't believe there's a

path forward for anything other than a ban worth noting here that the fcc itself doesn't have any authority to regulate or ban tiktok cifius does, and cfius is currently in talks with tiktok to see if it can or should be divested eed to a u.s.-based company. we have seen tiktok adding users. the app has been downloaded more than 200 million times in the u.s. and we have heard a lot about tiktok and the threat it has posed to the growth of snap and meta i also want to point out that shares of oracle are at session lows on this news, down about 2% tiktok currently routes its u.s. traffic to oracle cloud infrastructure brian? >> all right this commissioner, a guy named brendan karr he has been outspoken, sort of against tiktok for a long time so this may not be as new as we think, but i'm not sure we've heard maybe with the exception

of the previous administration for calls of banning tiktok. and this has got to come from what all the national security concerns you're basically letting -- some would say you're letting a live mic and a camera that goes through servers in china into your home. >> also, keep in mind that we are a week ahead of the election and there's this question of how the algorithm and the content that is shown to users may be influenced by the ownership. of course, tiktok has said and bite dance has said repeatedly, that they are operated out of those servers here in the u.s. and are not influenced by their chinese ownership. we are still awaiting a comment from tiktok on this news but you're right, brendan karr has been a critic of tiktok, but what's notable here is that he's saying that he doesn't see any path forward other than an outright ban this is notable, particularly, brian, because we do know that there have been these conversations between cfius and tiktok about what a divestiture to a u.s.-owned company might

look like. so he's saying a ban is the only way you couldn't have it transferred to a company that's based out of here. so, interesting stuff. we'll see how it all transpires. ultimately, this is in the hands of cfius, not the fcc. >> and you wonder if there's also a macro impact on already strained china/u.s. relations. julia boorstin, developing relations. i'm sure you'll see more let's get a cnbc news update with bertha coombs >> here's what's happening at this hour. about 75% of ransomware attacks reported to the treasury department late last year were connected to russian actors. for all of 2021, reported hacks cost nearly $1.2 billion nearly triple the previous year. the treasury dp says that it was also the target of an attack by a russian hacker group last month, but it caused little disruption spacex has launched its most powerful rocket for the first time in three years. foggy conditions couldn't stop

the falcon heavy from blasting off from cape canaveral. this was the falcon heavy's fourth flight. it carried a number of satellites, including two classified payloads for the u.s. space force. >> and an extremely rare first edition copy of the u.s. constitution is hitting the auction block next month just 13 are known to have survived only 2 are in private hands, including this one sotheby's estimates that it could fetch up to $30 million. on the news, encouraging sign of progress towards protecting newborn babies against rsv. that's tonight at 7:00 eastern so, brian, if we win that lotto jackpot tomorrow, do you want to go in on the constitution? >> you know, listen, a large part of this country was actually built partly, in the uk as well, on lotteries. they had different types of lotteries back then. but they would go around -- it seems apt. >> yeah. i agree. >> bertha, hold on, i have a

very important question. we go in 50/50, and we win, the lump sum or the annuity. >> the lump sum. >> i want the annuity. >> lump sum for sure i can't wait around. >> me neither, but my kids can and their grandkids and their grandkids. all right, the key things to watch now and how to position on 'sth it called the earnings exchange and is next

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welcome back, everybody. it is time for "earnings exchange." today we have the action, the story, the trade first up, that is amd, advanced microdevices the street expecting an earnings miss after the company preannounced back in october it expected revenues to come in light. kristina partsinevelos joining us with the story and ari wald here with the trade, managing director at oppenheimer. what's the story on amd? >> the action, i'll tell you about the action through the story. and the action was earlier in

october, the company preannounced, saying that research was going to drop, but still increase 29% year over year and you're thinking, hey, that's pretty good. but a lot of that has to do with amd's acquisition of xilinx. if you take xilinx out of the equation, revenues should be pretty flat for q3 there's a few points that amd warned in q3 the fact that you have weaker consumer demand. we know this already our viewers are smart. they've heard a lot about this the second point is inventory dynamics, as a lot of customers deal with bloated inventory levels amd says their client segment, which composes chips will actually decline and lastly, you've got aggressive price cuts coming from competitors, more specifically intel that could force amd to do so. and that could hurt margins. the last little point. is there a silver lining in data center sales amd said that data center sales would fall in line with estimates, and this is their preannouncement. we know that, but what will happen going forward q4 and the full year

are we starting to see some weakness there, like we did with intel? intel saw a 27% drop in profit for that category. this is data center. so, those are some of the factors. there's the story. >> you said silver linings, christina, thank you ari wald, there a silver linings playbook here on amd >> well, it's not one that we can advocate for, based on the chart and technical analysis alone. you can make the case the silver lining, how we see it, it is that the stock is tactically oversold so perhaps a lot of those worries have already been priced into the slide that we've seen, into the recent low point. i do think that the overall stronger market conditions could act as support, as well. so you are feel is that amd is feeling the lower end of its range at $59 this marking the breakout from july of 2020, but against that bearish trend, any sort of surprise on the upside likely to

find selling pressure, i think if there is a positive reaction, you're looking to sell the stock into its 50-day average, marking resistance at $71. >> we'll see you in a second thank you very much. we have two today, not three it's deflation in earnings exchange airbnb shares are down 34% this year. they posted a strong second quarter earnings beat. they expect year over year growth in the third quarter to be onpar with the second quarter. the question is, can they do it. deirdre bosa joining us now with the story. everybody loved airbnbs. it was covidy, they didn't want to stay in hotels. they wanted to stay by themselves in a house. but, it's like, you know what happened to like peloton post-covid like, what's going to happen with airbnb here what are people saying >> well, i think the question is, people like traveling to airbnbs. do they now like living in airbnbs? so you want to look at those long-term stays, because that is a trend that the company has seen that people, as we live in

hybrid work environment, are actually staying in their airbnbs for longer that is helping their bottom line does that continue we know that people want folks back in the office that's a uestion you want to look at the guidance we spoke to brian chesky in september, and he said that demand remains really strong i wonder, however, and investors will be wondering if they've seen some of that demand peter off over the last few months, as the likes of amazon have aid uber department say that, though the average daily rate as well this is a sign of airbnb inflation. it has been increasing at a very quick clip over the last few years, is that moderating at all? and brian, finally, yesterday, we spoke about uber and the massive amounts of losses that we continue to see this is a sharing economy company that is making money, minting profit a billion in net income expected this quarter >> because off nice house and go there and spend time with your lovely family and everybody does their own thing. you're not delivering burgers. we can get into it

ari wald, trade on airbnb? stock's down, but the numbers are good it's kind of a weird situation >> i think the trade is still lower. there are some positives to point to look, here's a stock that made a higher low in october versus where it was in the summer the market made a lower low. that is -- that can be viewed as an indication of relative strength it was sold less aggressively than other stocks in the market. still, taking a step back, our work is cautious as long as the stock is below the may break down level there are some signs that it's starting to curl lower again over the near-term i see near-term downside risk to $100 that's the september low conversely, if there would be an upside surprise, i think you're going to see some selling pressure at that 200 day average marking resistance at $130 >> a pretty tough take on airbnb are you more optimistic on the phillies are you guaranteeing victory

tonight? >> not guaranteeing, but philadelphia fans, we are sacrificing the sixer season so we can bring back both the world series and a super bowl. >> you can take your rowing machine to an airbnb deirdre bosa, thank you very much all right, still ahead, mortgage rates you know they're up this year. the fed has already hiked five times so far on track for a sixth tomorrow so what do you if you're a realtor right now and there's a couple hundred thousand of you out there watching right now, what do you? ceo of coldwell banker up next stick around is it possible the only thought that comes to mind is... ♪ finally? this is financial security. and lincoln financial solutions will help you get there. as you plan, protect and retire.

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welcome back

we're just about 24 hours away from your borrowing costs likely going up again across the board, including mortgage rates, possibly, if the bond market moves, and those rates are already at 21-year highs affordability is at multi-decade lows, because home prices are still holding up needless to say, it is a critical and kind of unusual and weird time in the housing market and the latest data has been brutal existing home sales in september fell to their lowest level in a decade, down nearly 24% from the same time last year. the inventory shortage does not appear to be getting any better, either housing starts, by the way, building a home, dropped 19% in september. and building permits, an indication of you wanting to build a home, fell 17% for more on what this all means, let's bring many ryan gorman and ceo, president of coldwell banker they have 91,000 affiliated professionals and 3,000 offices, not just in the u.s., but around the world. the good news, ryan, is that the housing market was on fire the last couple of years

i mean, anybody bwho wanted a home, tried to buy one, you had 100 people showing up at an open house, bidding wars, no contingencies. all-cash offers. where are we -- and i know every market is different, i get it. palm beach will be different than palmdale. where are we now, nationally >> i appreciate you having me, i appreciate the question. and i really appreciate some of the teeup that really all the markets are different. right now, we're seeing a lot of uniformity in the overall trend. so certainly, unit volume, is what we're discussing. the number of homes that are transacting right now, declining significantly from where we were i think when we released earnings, we talked about something like 17% down on volume, but we gave a hint that it's more like 25% in total volume as a current run rate that's not uniform across the country, but there are relatively few markets that are not overall down the markets that were the hottest the earliest have cooled the most and there are a lot of markets that didn't get quite as hot and still trending in a

relatively good direction. the number of transactions that we're seeing take place, largely because of inventory reductions, we are seeing that have an impact >> do you think there will be a time nationally, there seems to be this weird impasse where sellers are like, nope, not going to drop my price by a lot, paib by a little, but no way and you have buyers saying, hey, you've got to drop your price. mortgage rates have doubled. and now we have this weird wild west who blinks first >> well, it's funny to hear you say, it's a weird market i think you mentioned weird three times now, which absolutely fits. we are seeing some strange dynamics it's not quite a buyers market or a sellers market, typically, when a market starts to transition from for instance a sellers market to a buyers market, there's an elongated period of perhaps it's denial,

perhaps it's aspiration, but here i think we're seeing acceleration of that we're seeing a compression of time overall, the amount of time it's taking for sellers to hopefully listen to their trusted adviser, their sales associate, their real estate agent on what exactly is taking place today in the market, how exactly buyers are contemplating their own financing, whether their mortgage financing or with cash, and how they're thinking about the wealth effect, all of those things, a good agent should be advising a client on exactly what to expect from the market we are seeing sellers get realistic much more quickly than we have in the past. it's kind of a hallmark of the overall pandemic, it seems like. just about every sales cycle, every trend cycle is being compressed and we're seeing a compression of that here, too. we're not seeing inventory come on to meet the demand just yet >> i saw a stat yesterday and i don't know if it's true or not, so i don't want to say it, but it was basically indicating there was a high percentage of realtors this year that have not sold any homes and we know a lot of real estate agents do it sort of part-time

totally understandable to those agents that got into the market the last few years, they've really only known pretty good times i think that's fair to say low rates. what's your advice out there to somebody who's, you know, young, been in the real estate game a couple of years, it's a scary time, not just a weird time. what's your advice to them on how to get through this? >> it certainly can be a weird time now, right now, we had a lot of our folks together last week for annual conferences and my advice to them was, people are going to have their best year ever this year, and it can certainly be you, but you've got to double down, work extremely hard, be on the phone with all of your past clients today helping them to break down, for instance, a segment like this. like, hey, i was watching cnbc, i saw what was going on, how is that affecting my recent purchase or my aspiration to move in the coming months. can you help me with some context? you mentioned that we have a lot of folks that haven't sold a lot of phones.

there's certainly a lot of licensees out there who found the last market to be intimidating, when things get really, really, really hot, it can be difficult to demonstrate your value in a market like this, for a good, trusted adviser, to me this is the spabsolute best time to demonstrate your value, and giving your clients a lens into what's really going on in the market >> calm through context. >> ryan gorman with coldwell banker, good to have you on. up next, you've no doubt heard of the gig economy, but what about the giga economy? we'll explain, next. ♪♪ ♪♪ ♪♪ be ready for any market with a liquid etf.

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in a very long research note, they called the lithium eyon battery industry, quote, the new giga economy and laying out companies that might benefit. joining us with the details now and some other potential winners, but there is a big one. >> yes but first, the giga economy, of course, a play on giga economy and giga factories where tesla manufactures the batteries but essentially we're hearing more and more about the electricity

of everything and lidthium ion batteries are the key. they're at the corner stone of several mega themes that will drive auto, tech, industrial investors because batteries are needed for all of the sectors to decarbonize in terms who have benefit? lithium and piedmont are those that will win. there is tesla and other oems. that includes ford which recently announced a partnership with a group for an $11 billion investment to build two new battery plants in kentucky i forecasts lithium battery demand growing 21% year through 2035 no total market size can support newer companies as well. with the firm pointing to battery makers in enovix and

freyr. but, of course, newer companies come with their own risks and potentially unproven technologies >> okay. in the inflation reduction act, there is a lot in there. there say lot of policy support and tax credits for this industry, for renewables and minerals it is moving the needle on production at all? >> so it certainly important to have that, you know that, signal at the highest level and last week biden announced, you know, around $3 billion in new grants including to piedmont but it doesn't address one of the key hurdles, permitting. as we spoke about before, you know, that gets in the way of basically every large scale infrastructure project so having that support is key. but then permitting provides a lot of challenges as well. >> i believe they got i think 100 million plus in it to help reopen that high mountain mine in north carolina which by the way, used to be the biggest lithium ion in the world until we shut it down. the u.s. didn't realize we needed lithium.

>> that is a brown field mine. they're hoping that will will speed along the process. they also have the processing plant. piedmont lithium looking at a green field mine in north carolina but once again, you know, there are a lot of steps that the companies have to clear to get these operations up and running. >> it's -- listen, here's the weird thing about the green revolution it's all rooted in mining. that's the weird thing thank you very much. i'm saying weird today, i don't know maybe i'm weird. which i am coming up, is there any sign of recession in travel? your next guest says, nope the ceo of windham resorts joins us next. what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq

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and despite uncertainties, it says strong demand so far this fall joining us now is jeff bolatti, the president and ceo of windham resorts. they're rolling out the 24th hotel brand called echo extended suiteses you're really cheap wedding or some sort of ground breaking ceremony which is it? >> it is the latter, brian we're in our second ground breaking of what you just announced. we announced this morning. the 24th brand echo suites. we have awarded 120 contracts and i'm here in sterling, virginia, outside of dulles airport with a great developer >> know it well. say hi to my friend out there at the dulles greenway tollbooth. let's talk about hotels.

i'm traveling every week i'm booking hotels all over the country. thank goodness cnbc is paying, jeff the prices are still high. i mean, that's good for you. but are we seeing -- i mean how long can prices be elevated? it's like $400 a night in cleveland. >> the demand is high, brian yes, prices are high relative terms, let's keep things in perspective. they are where they were in 2019 i mean the vacation season that folks thought would stop on labor day just hasn't. and prices are up in the third quarter. it was up 110% no the to last year but back to 2019 september was the best occupancy month. largest hotel franchising company that are small business owners that own those 24 brands that investor seen and the fourth quarter is no exception. we're seeing holiday travel bookings ahead and our october month to date bookings are up nearly 20% to where they were back in 2019 a lot of that is to your point,

great. and nearly 10% where we were the last year when people thought thing was start to slow down >> yeah. i mean, it's -- it's -- there is so much weird economic data. again the word weird imminent recession but when you travel as i do all the time, i'm sure you do, jeff, newark airport, i can't get a parking spot some dames. how long can this last >> it's crazy. our largest states, our largest states are texas, florida, california they're all double digit that is the demand that up is there. over last year over 2019. we're leaving here we're going down to atlanta, georgia. i could not -- we're holding -- we're last on the show with kelly talking about what we're doing from the university standpoint we're meeting with 100 black owners and lodging developers. it was tough for us to your point to get a hotel room tonight in atlanta, georgia, just for the point you raise >> we have to go, jeff but when the ceo of the company can't get a room -- that's a

sign of demand you have to pull some strings. you know the guy that knows the -- you are the guy jeff, thank you very much. echo extended suites congratulations, virginia. rolling. all right, folks, that's it for us on "the exchange. power lunch will pick up fed coverage tomorrow. we'll be here for it we'll see you then as well n now to "power lunch. from one virginia to another. i'm tyler mathisen along with morgan brennan 24 hours to that big fed decision another three quarters of a point hike is expected from the central bank so will its fight in four decades against inflation actually come at the expense of jobs we'll debate the fed's strategy. plus, retail risk. all over the place fed rate hikes, floating rate debt becomes more expensive. and that can be a blow to retail