mitch mcconnell holding a fund-raiser with herschel walker in georgia ads already starting to run on tv there really important for both parties, but we'll see if voters actually turn out. >> elon moye, great stuff. 12th grade civics didn't work out. you cleared it up. that does it for t"the exch, i'm joining "power lunch" which starts right now. you can see in for a fun-filled hour. welcome to "power lunch. i'm morgan brennan here's what's ahead. markets next test. results from major retailers could determine whether last week's big gainless continue from walmart to home depot to target and macy's. the keys to watch as this unfold. plus, crude up about 15% and

china relaxes covid restrictions, will demand from the world's second largest economy send energy prices surging? a lot to cover this hour brian? >> yes do. thank you very much, morgan. all right. guess what else is surging well, okay stock market's not surging, but it is up and it was down earlier. nasdaq in the last hour turning positive the dow on its highs for the session. it is still building or trying to build more off of last week's big gains. dow up half a percent. 181 points s&p up even the nasdaq down a lot. more than a point earlier today. higher as well now yields are high are in the bond market, but off session highs. almost a perfect correlation yields go down yields go up market goes in the opposite direction. yet fed vice chair brainard saying earlier may soon be appropriate to slow the pace of interest rate hikes. probably helping the market today. one of the biggest business

headlines happening now, amazon reportedly planning to lay off 10,000 employees a "new york times" report it's cuts largest in amazon the history and still represents less than 1% of the global workforce. still matters a lot to each of those 10,000 people. a rep from amazon did not respond our request for comment. talk about that laser on in the house. rally hirnges on earnings reports and the largest retailers. stephanie link from hypetower advisors and cnbc contributor. stephanie, great to speak with you. i want to start with -- >> nice to see you. >> start with inflation. we know that powered the market into the final trading days into a strong end of the week last week get yore reading on inflation. aye tomorrow, given fed speak we're getting so far

walk me through the notion, "don't fight the fed " seems like everybody's been fighting the fed a little bit? >> yeah. yeah it's really great to see you back welcome back. >> thank you. >> so i think we're still processing the cpi right? from last week, because on one hand, absolutely quite positive that the core cpi fell month over month, year over year equivalent rent fell a little more than expected a surprise of course, though, have been getting prices paid indention from pmis, you know well, six-month leading indicator for cpi. all that good. get rye the market rallied problem, still have as much as 73% of core cpi remaining elevated meaning that all of the positive surprise on the headline number on the core cpi number, all goods related. that's not a surprise. because we know there's inventory, bloated inventory everywhere right? seen discounting that makes the week interesting.

government sales report and then 33% of retail market cap, 50% excluding amazon, of retail market cap reporting this week we'll hear about inventories in spades right? in addition to that, get a p ppi, don't fight the fed? yes. that's the case. liquidity in the system last three years and markets rally pd knop you fiscal side doing something different not putting more money in, terms of programs, not as much at least and much more hawkish fed. so that's really one of the reasons why you don't want to fight the fed. on either side, that being said, if peak inflation is here get why the market's rallying. seasonally, strongest part of the year to be invefsted in the market. >> comprehensive answer. certain names given how many companies are reporting? certain names you're watching

particularly closely given this macro conversation we've kicked off here with that first answer? >> yeah. no absolutely target, i own target painful, morgan, for sure. down 25% on the year but this is a show-me story. preannounced negatively two of the last three quarters. last quarter missed earnings but reiterated second half of the ye guidance and talk add comp 2% to 3% what they've been doing taking share from weaker players. on inventory side, actually talked about operating margins getting back to that 6% level second half of this year remember, last quarter they did 1.3% in an operating margin situation. did they write down everything kitchen sink it and throughout last quarter i think they did i think the valuation 15 times forward is attractive. especially looking at walmart which is trading low 20 times multiple and held up much better

than target. only down 2% on the year. >> terms of these green shoots reopening materializing in china, your thoughts on that and what it means for other names we might see report this week >> oh, i mean i think -- seeing every ore day headlines opening, closing, opening, closing. saw last week, you saw when they announced, word was they were doing to partially reopen. you saw companies like nike do really well. saw companies like starburks do really well. you'll have a lot of overall discretionary sectors do better than expected. some of the other names important for this week. tjx up, expectations so high and a clear beneficiary of inventories, escalated inventories. i think we have to be careful. tough kompcomps year over year well as, pushback.

interesting. off pricer that's raising prices a conundrum kind of. >> and a poor-looking indicator, applied materials. thoughts >> yeah. also part of the reopen. right? do you see what these, all semiconductors did last week shot up higher than expected clearly they are feeling the full brunt of closures in china and restrictions applied materials, number itself won't be important what is important are the restrictions they said going to cost them $400 million the next two quarters we'll see what happens there equipment spend very taj mind because we've seen the capex numbers come down from micron, tmc and others directly impacting equipment makesors and applied materials is one obviously. that said, stock trades 14.8 times earnings down 30% year over year. wish it didn't rally 25% over

the last two weeks. >> stephanie link, great to see you and your thoughts especially on a biz market-moving week like this one >> have fun this week. all right. now to the big story that is ftx. continued fallout. bitcoin prices are stable. slightly higher this afternoon after last week's 20% decline. traders continuing to assess damage why the way, still continues to fall kate rhine and julia boorstin on potential ad business. kate, working all weekend as well i know a lot more to come what do we know at this hour >> exactly, brian. all of this bankruptcy fallout for ftx sparked questionsabout broader contingent this means ws what does it meano cryptocurrency a large majority of the fund's total majority on ftx, firm's

partner. went to withdraw monday morning, got very little out. now stuck alongside everyone else and adds it's hard to imagine the space bouncing back quickly from this ordeal too many gotten burned too hard. a handful of other funds, hedge funds in particular, in this position not just crypto funds, guy likely more traditional crossover funds as well may have dipped their toes into cryptocurrencies sam bankman-fried, former ceo said these were ftx core clients. take lachb. >> most of our volume comes from customers trading at least $100,000 per day of volley these are high volume, highly engaged users and sort of everything from, like, someone in crypto ecosystem to a small trading firm, a family office. day traders to larger trading

firms to institutions. spans a lot of different sort of demographics and countries and types of players but they're all generally fairly sophisticated, fairly engaged and fairly large volume. >> heard him say sophisticated traders. also heard from binance who walked away from a deal to buy ftx and gbail them out last wee. said on twitter extremely surprising to everyone says "if i was writing a fiction i couldn't imagine this stuff" advice to crypto traders, don't know what's going on, hold for a couple years no moss, years it will eventually blow over. >> calling to reassure investors binance doesn't have loans or debt and questioned liquidity of some of the smaller chains out there. >> back to you. >> kate when do you think the next big news dump is going to be what are we kind of sitting in a holding pattern? not really know where he is.

private chatter over the weekend. any idea when we're clear some of this stuff up it's stalled out in the last couple days. >> i know. wish i had a crystal ball, to run out and -- >> or your own jet. >> one thing we are waiting for we haven't gotten yet in terms what is next and what's a little more predictable is something they call the first day affidavit. and files for bankruptcy last week, talked to experts on this on the legal side saying this was clearly a rush went to get out the initial paperwork but didn't have that longer paperwork that affidavit, typically comes out. that should provide a lot more information. told that would have come over the weekend. had eyes out for it and haven't seen it yet. the next week or so more documentation. more of a play-by-play from ftx and how this actually happened and explaining that to the bankruptcy court. >> kate rhine, thank you for joining us for the late effort kate rooney. more confers than answers. a while, i think.

julia, ftx's dramatic collapse and what that could mean for the ad industry >> the ad industry already struggling with concerns about an economic slowdown now looking at another loss with the implosion of ftx, which named one of the top ten marketers of the year in 2021 by adage. since ftx began advertising in july 2021, according to pie spot, ftx spent about $75 million on tv ads. many touting celebrity partnerships with tom brady, steph curry and others ftx tv ad buys peaked in february at $36 million in the month including ads in the winter olympics and the super bowl you may remember nicknamed the crypto bowl. foreign national crypto ads that aired in the game. 30 seconds sold for as much as $7 million ftx's tv ads plummeted to $1.5 million in september and $145,000 last month according to pie spot

ftx ad decline is part of a larger trend amid cryptos con traction in february, the industry was 13th highest spender amongst industries on tv ads last month fell to 175th place cry crypto.com spent the most. $93 million in total bought no ads since june ftx and other crypto companies spent more on tv than digital ads, and crypto companies and other financial terms, now seeing absence of the crypto advertising yet another blow to an already challenged space. morgan >> it's fascinating. kind of kuched on it there julia, talking about the slowdown in advertising and in digital ad sales when you lay the numbers out, even before all implosion stuff at ftx, the fact that as we've

seen bitcoin and price of other cryptocurrencies just plummet over the past year that was probably a very big driver of those ad dollars and essentially dried up and i would imagine now expectation is it's going to dry up further. >> yeah. i would expect it to disappear entirely interesting looking at the chart, watching decline of crypto spending that really peaked in february that decline goes along with the decline in the actual values of some of these coins including bitcoin. those things move in tandem, but fascinating to see who sort of fills the void for the super bowl, also just look at the fact that the tv ad market has been bolstered by some things such as political advertising trying to figure where the next wave of growth will come from for these different ad markets >> julia boorstin, thank you joo for more tune into "squawk box"'s interview with ceo of crypto.com tomorrow at 7:00 a.m. eastern time.

so many questions. that's going to be a really important interview. where is sam bankman fried and around the hedge fund? where's the money? how do you lose $10 billion? what did they invest in? so much stuff to come out. coming up, also, president biden's and xi meet. corporate america navigating a changing relationship with china. different companies with different strategies we'll talk about it. before the break, look at shares of amd, higher following "wakanda forever"'s opening. amc. amd is a semiconductor company amc is the movie theater it chain. >> close in the of a if a bet. >> close enough. stock up 45% we are back in two.

welcome back to "power lunch. china's president z xi and president biden meeting face to face >> reporter: morgan, xpexpects low. takeaway more constructive president xi indicating a red line on taiwan taiwan one of the reasons recently plans announced to halt new investments in chinese equities according to the wch. unfortunate timing etf on pace for a record month

and comes as beijing announced plans to support its dead ridden property check out the moves sending shares of chinese real estate sharply higher on the dpapay the last seven days, inflows, months of out flows. data trek separately worsening air quality in month of november versus prior two months as a sign factory there's are starting to reopen is china on the verge of a major pivot? global chief investment officer jeremy schwartz saying investors looking for sirens of further reopening of economy next year and moving past covid past policies carnival, royal caribbean planning delay of plans to go to china due to uncertainty around this specific policy infrastructure represented, caterpillar and general electric, optimistic reiterating the companies being

grown there. >> seema mody, thank you. talk about oil and geopolitics. growing concern that a full china economic restart along with the december 5th eu sanctions that kick in could send crude oil surging listen to what jej curry of goldman sachs head of global commodities research had to say. >> the physical goods root of the inflation very beginning >> when we think about the outlook for physical goods it starts to get really bullish over the course of the next 6 to 12 months. primarily because you get china back in the picture. >> all right bring in global head of commodity strategy at rbc capital markets and a cnbc contributor. probably know jeff but a competitor as well you don't have to agree with him one bit, but do you? >> i actually like him a lot exceptional. >> here we go, i would say the

market, though hars been waitin with bated breath for reopening. last week expectation based taking new vaccine technology, shortening quarantine time, and basically saying, okay this is going to be it now today you can see oil and record covid cases in china, particularly places like beijing and matsch manufacturing centers. i do think people are going to wait to see how we really, have we really turned the corner on china reopening? certainly this has been the big headwind for oil amazing that oil prices are this high when chinese demand is this weak if we to get a reopening, combined with the eu sanctions, ultimate full story for oil, but i think we need to wait a little longer to see when china really reopens. >> like i heard morgan before the show i like brian, but -- anchoring, one of those things. stay with jeff. >> i heard that.

>> i did hear that, morgan fair enough on jeff. how about this talk about what we know, which is opec today, monthly number came out, yeah, cut demand forecast, growth, still growth by the way cut growth forecast a little bit. man, everybody's talking about india. got these december 5th eu sanctions coming in, and all india is doing is buying more and more oil. >> right they are backing up the truck. i mean, russia is now the top supplier in india. india would like nothing more than a discount and janet yellen without essentially saying, india, go ahead. continue to purchase the only problem that india's going to have on december 5th is, if they do not abide by the price cap. no workable price cap mechanism, there are no western services too move those barrels to india from december 5th onward those india numbers may to the

hold when these sanctions take effect >> so at least in the near term, there's a lot of question marks and uncertainty here in the near term is trajectory higher for oil prices or low gentlemen. >> to me, the big question is, on december 5, if these sanctions take effect, if there are no western services to move russian barrels to anywhere else in the world, and you have this eu embargo take impact as well could look at a multimillion barrel disruption in the market. a moving cat flifalyst from her. the question, does it allow the barrels to move and what's the scale of the russian disruption? i don't think we'll have the opec meeting december 4 come out with announcement of a major opec surge i think they'll wait to see what happens with these sanctions taking effect on december 5. >> we'll be there. it's a sunday meeting, and sanctions, be clear with the

audience december 1st, the u.s. starts the latest sale tranche of the spr. december 4th, a sunday, opec meets. we'll be there, and december 5th, the monday, eu full sanctions on out kick in whatever happens we are entering what could be a weird and wild time for crude oil, in the next couple weeks. >> it could be the explosive end game for the market this year when it comes to oil how these sanctions launch will determine, do we have a major supply disruption, or do we continue to have a relatively well-supplied market i cannot put enough emphasis houn important december 5 is for the ultimate outlook of oil. >> good stuff. as always, putting it into perspective. thank you. >> see you in vienna. >> yes. and if you need a partner, sidekick on that trip --

>> this thing scared the heck out of me. look at this -- wall moves. >> inventory. >> wall moves. >> retailers gearing up the holiday season a time of higher flow of traffic, fierce competition. hopefully more sales this year the focus is getting rid of excess inventory. that story is coming up when "power lunch" returns.

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welcome back to "power lunch. another warning about the state of the economy by jeff bezos he commenting that the probabilities say if we're not in recession right now, we're likely to be in one very soon. "my advice to people whether small business owners is to take some risk off the table. it you were going to make a purchase maybe slow down the push a little bit. keep dry powder on hand and wait a bit. those almost told from bezos last month, time to batten down the hatches. hearing more and more from major players in the market. >> interesting he runs a, you know, cloud company. retailer, whatever you want to call t. touches so many

different aspects of the economy. >> no obligation to come out and say anything. >> jamie dimin saying similar comments. >> didn't your mom say have nothing 234nice to say don't sat at all 25 yearsbaze -- bezos say something like this chairman, going to outer space, ceo. over to our cnbc news update. >> thank you happening at this hour -- the u.n. general assembly voted to require russia pay reparations -- skip the word, can't get it for its invasion of ukraine. non-resolution passed 94-3, 74 abstentions, sport the lowest for any resolution against russia since beginning of the ukraine invasion. another court ordered a halt to president biden's student loan forgiveness program a federal court in st. louis

agreed a preliminary injunction while an appeal plays out. grammy-winning singer roberta flak has als commonly known at lou gehrig the disease and can no longer sing the progressive disease made it difficult for her to speak her manage says she'll stay active in musical and creative pursuits. a hotel that hosted president kennedy and the beatles is no more this beach resort imploded yesterday after falling into disrepair. future of the site is unclear. brian? messed up to word, but back over to you. >> it's all good kristina -- parts -- a-smithloss. a hard name. trying to so solidarity. solidarity with my canadian friend kristina. still ahead here on "lunch

power" as of late a lot of controversy surrounding what they call "visionary" ceos and founders most recently the likes of mark zuckerberg, elon musk and, oh, yeah, this banking guy now missing is corporate america in need of a major leadership reset? morgan plus -- no more fun and games. bank of america downgrading hasbro highlighting problems we discuss 'lbeig bk.wel rhtac

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we are 90 minutes left in the trading day and want to get caught of you on the markets stocks bonds and looking for leadership begin with the market. dow off highs of the session s&p off its biggest weekly gain. and biggest gain in about five months nasdaq also coming off highs you can see still hanging on to gains in general with these averages right in our s&p 4,004 the level there, and the dow sup 137 points bond market. treasury yields. those are higher, though off highs of the session there as

well 2308s comment from fed vice chair who said it may be appropriate to slow pace of interest rate hikes. ten-year yield is around 3.87% as you can see there a lot of fed speak this week yield on the two-year at four points 4.1%. oil closing today. or closing lower now for the day. get to the cnbc commodity tefk for more. >> oil declining on weak chinese demand as well as a stronger dollar meantime, opec cut its oil demand forecast once nen in its monthly report the group lowered its 2022 demand growth forecast by 100,000 barrels per day and now sees demand growth at 2.55 million barrels per day. this year opec saying the world entered a period of significant uncertainty and rising challenges check on prices. wti down 3.9% ats 85.52.

brent crude as a loss and natural gas in the green but well off highs of date amid ongoing uncertainty when lng's facility will be back online following that fire back in june take a look at nickel earlier today jumping more than 10% and crossing above $30,000 per ton hitting highest level since at least june, but low trading v meant this can be highly volatile. >> thank you. turning now to two controversial ceos elon musk and mark zuckerberg. both leading companies and our next guests says their management styles aren't working and time for new leaders senior fellow at harvard business school and author of "emergent leader edition." break this down for me

elon musk is a cult figure, an icon you don't think -- you think he should take stuff off his plate right now? >> absolutely. finally admitted it today. running three -- or depending how you count to five companies. needs to get away from the cult idea of having a lot of charisma and heightening stock and get back to being a responsible ceo. got a huge responsibility at tesla and fooling around with twitter. no one know what's his objective was in twitter thought we knew in tesla all for climate change, spacex and exploring. really caught up in charisma trap and very concerned about that i don't know how he's going to get back i think right now first thing he should do is twitter is, falling apart, and i don't know who's going to run it, but he needs to get a ceo in there quickly no one will be left the way he's going. if you planned a worse takeover

attempt of a company, i don't think you could top what he did. goes back to aol-time warner for maybe the worst example. he's got a lot to do definitely has a lot to do. remains to be seen how everything evolves at twitter. certainly we know some advertisers are pausing spending on the platform now. that said he's come out multiple times in recent days saying more users on the platform and seeing records there. some sort of engagement is happening. also said he doesn't plan, at least back earlier in the year, said he didn't plan to stay on as ceo permanently at twitter. saw john legere, former ceo of t-mobile throw his hat in the ring batted down. if it's not elon musk, who could actually take that job, though >> that's a very good question i'm sure a lot of qualified people out there you'd have to look for them. somebody like sheryl sandberg

could step in and turn the place around having left facebook or meta one person i would put up there very, very capable person. he's got to recognize all revenue is from ads and he turned them off and will turn off more if he doesn't do a quick turnaround. >> isn't this the difference, bill, ultimately between a founder and an operate jer they're very different skill sets are they not >> absolutely. entrepreneurs, brilliant entrepreneurs. musk greatest invent of our era, almost to thomas edison, brian, but very different than running companies. how can you run four of them why doesn't he put ceos in all of them and call it musk holding company and have a ceo of tesla? $175 billion this year, a huge amount next to facebook, meta, second largest loss of all-time i think he's got a responsibility for his

shareholders, she doesn't seem to be focused much on right now. >> talk a little about meta. what would you advise happen at meta where zuckerberg is concerned? >> zuckerberg seems tired. been there 19 years. i thought a year ago when he changed the name, abandoned his core name, he was really abandons facebook. i think right now number one mark needs to hire a ceo for meta, and he can go be chair and chief creative officer and focus on virtual reality problem, spending $10 billion a year that's got to come bay down. no one knows when this will pay off. someone's got to restore facebook/instagram going the wrong way, and if these people don't set standards, both musk and zuckerberg, you're going to have forced government regulations. no one wants that, but they need to act as very responsible ceos. >> yeah. and play devil's advocate. seems historically a premium

paid for a company, from investors points, led by the founder. especially 9 founder sooner as a visionary. the flip side of that is, i just look at amazon and fedex as recent examples. companies the founders stepped aside and to brian's point, operators have stepped in at the helm are you suggesting that we're entering more broadly, entering an era especially given the fact it is a tight monetary environment right now, where the vision needs less and less premium to be had from the founder? >> i definitely think so i mean, you had bezos come in a few minutes ago putting andy jas any charge look what tim cook is doing at apple and nadella in microsoft none are founders. larry else clison turned over a company. and get ceos running both of

these companies, three companies, really, and going to be a lot better off, and, look, the visionary founder can have great ideas about inventing and can be out still representing the public face of the company, but somebody's got to run the day-to-day recession? have to tighten down and somebody has to run the place and they don't seem to be running it well right now. any of them. >> bill george thanks for joining us. >> thank you. coming up, switch gears and talk about the holidays. apparently all retailers, all they want for christmas this year, morgan, not their two front teeth. it is less inventory so they don't have to discount, crush profit margins and disappoint inve investors. merry christmas. we're back right after this. >> announcer: the bond report is brought to you by -- technology lets drones deliver pizza. no,no,no! have a nice day. but to deliver powerful insights that are on target you need more than technology. you need cdw.

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stores have been able to sell through some of that joining us now melissa prep co-cnbc.com. walk us through some of the names where they stand went from not enough to too much >> yes been an abrupt shift target is big one to watch cut target forecast twice. in may then june taking aggressive measures to cancel orders, do deep discounts clear, the way for fresh merchen dice this holiday season. walmart's in a similar situation but the difference with walmart that more than half of its sales come from grocery. its hope people come in for milk and eggs, come in because they know of the low priced reputation and cross the aisle maybe leave with clothes they weren't expecting to buy kohl's and gap in a tougher spot kohl's and gap of course sell a lot of apparel it's harder to sell summer clothing when people want winter

clothing or sell bhpants when te want dresses won't be as rosy as progress walmart and target may have made macy's is interesting. end of last quarter inventory only up 7% year over year. much lower than some of the double digits seeing among other retailers. that may give advantage going into the holiday season, again, bring in some of that fresher, newer items holiday shoppers want. >> interesting i wouldn't expect to hear that maybe for some retail names with inventory built up, maybe not good for investors, or for margins. is it going to be good for consumers looking to find deals ahead of christmas and the other holidays >> yes definitely good news deals will abound this holiday season. >> abound? >> yes, abound think last year. people were nervous about out of stocks rushing to the store early worried about shipping delays. that dynamic completely shifted. that means that almost

everything feels like is on sale has been since october black friday started early for people who are looking for a deal they're all around only bad news in categories like electronics, workout clothes things people already bought and may not want again. >> didn't we buy everything during the pandemic? >> the dilemma retailers have. how do you make it new and fresh and create urgency so much of what black friday is, the idea of the door buster. when you have weeks and weeks of sales, how do you dlaet same dynamic and excitement for people to come in and get something new? >> an interesting pull, more people spend on more experiences. thanks for joining us. >> what about air fryers >> still big, but a lot of people bought them already. >> got to tell you everything's better than an air fryer. >> you're one of those. >> what does that mean >> give me the old-fashioned fry. i don't know. >> deal with grease and oil?

trying to save the planet. >> deep-fried turkey get onboard next week, my friends. >> i could deal with some deep-fried turkey. air fry it melissa, thank you the graphic beautiful. literally looked like you were coming out of the bag with the shot look, look. >> oh, my gosh it does! >> merry christmas >> bah-hum-bug. >> on sale too, i guess. >> no. you are not. still to come, pivoting. trade some of the biggest calls of the day in "three stock lunch. that's coming up next. at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow.

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welcome back today's "three stock lunch" focusing on three calls. amd, upgrade to buy, saying products remain strong stock up 3% today and 19% in a week hasbro, sinking nearly 10% on a downgrade from bank of america to underperform. analysts citing changes to highly profitable gathering card game and a pharmaceutical company falls after downgrade from jpmorgan to underperform. saying the company is struggling

with growth within its portfolio. bringing in a chief technician at piper sandler start with amd >> sure. terms of amd, fundamental story at amd is constructive following amd for us here at piper and a lot of positive things happening around the data center, enterprise pc market should be a positive for the stock. technically you look at the chart, not reversed a longer-term down turn yet. still below declining average and bottom line for us is, morgan, see it close above $80 before we think it's more than a relief rally at this point in time. >> all right, craig. by the way good to see you if daylight hour, too, my friend. congratulations on biking. talk about that in a second. right now talk about toys. hasbro talked about christmas when from i understand children like christmas how's hasbro setting up? >> distributional-looking stock. >> what does that mean

>> look at the chart we have here looks like a rolling over dome, when you look at the chart below a following 50 day, 200 day moving average at this point of time no support for shares from our perspective, use a relief rally to sell hasbro. looks like more down side left to go. >> stock down 5% and finally, the pharmaceutical company? >> an interesting trade name around $12 trade upper end $6.50 lower end. 200 day moving average, but at this point in time maybe 15%, 20% trade to the upside. just a trade. >> wow. >> not broken out into the consolidation range the stock who been in more than two years. >> breaking down technicals on three key names moving today craig johnson, thank you. maybe a big move up there in

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can he stand on his own... once he's all on his own? this is financial security. and lincoln financial solutions will help you get there. as you plan, protect and retire. ♪ ♪♪ the only thing i regret about my life was hiring local talent. if i knew about upwork. i would have hired actually talented people from all over the world. instead of talentless people from all over my house. welcome back hit a couple stories on our radar. normally we don't talk a lot about sports probably should, sports betting. right? start with a wild football game between vikings and bills. being called one of the most amazing finishes in nfl history. had, well, a lot of mistakes josh allen threw a bunch of

interceptions as well. had one. greatest catches of all-time and the vikings, underdogs came out won the game covered won the game 33-30 and "wall street journal," written calling it an epic masterpiece. i don't know if this game was on in your house. maybe watching red zone, morgan. >> the game was on in my house i mean, it was being watched. i hear it was a nail-biter i was not watching it linchts -- >> but i hear perfect storm of events that took place for this incredible situation to play out the tway d. and if you had maybe or maybe not had money on the vikings plus 7.5, they won outright then look back and go, could have done the money line. >> sounds like -- personal experience put to work. >> wanted to bring it up to talk about sports betting actually. >> which we should be talking about. right? >> why not >> meantime, a little debbie

downer more job cuts coming in tech amazon reportedly planning to layoff approximately 10,000 employees beginning this week. most job cuts seen at amazon in history of the company according to a report from the "new york times. and it comes in -- areas that are perhaps not so profitable for amazon we saw signaling from the "wall street journal report"ing last week this could potentially come and comes in the same couple of days disney, for example, implemented a hiring freeze, too. seeing more and more of these companies begin to, going back to jeff baezos comments early. batten down the hatches. >> again, right before the holidays. >> timing cannot be overlooked. >> and now hire 50,000 people for other jobs seasonable jobs at the warehouse and then laying off -- i get it. got to right size your business,

but wait until january 2nd or something. ahead of the holidays. >> tricky. beats all the layoffs in general in tech. >> or too much hiring during the pandemic we'll find out morgan, see you tomorrow >> yeah. >> see you tomorrow, all right. that does it for us here thanks for watching "power lunch. "closing bell" starts right now. stocks have been gaining steam pulling back in last hour following the best week for the s&p since june welcome. this is a make or break hour for your money "closing bell. i'm sara eisen in the market up 79 points or so on the dow s&p unchanged. energy today, industrials, consumer staples in technology all solid. in the red, real estate financials, consumer discretionary and ultilities nasdaq falling spent most of the da