year now since the financial crisis and there may be more pitfalls to avoid in 2023. we've got the ceo of the year, yale university with our power rankings find out which executives top the list and which found themselves embroiled in controversy in getting the short end of the stick. >> tyler, so nice to be back together as long last hi, everybody pap check of 9 market not seeing a pretty -- this is a familiar story from the past we're. trading heavy and heavier throughout the afternoon starting with the nasdaq and spreading. nasdaq down 1.5% s&p down 1% to 3815. watch that 3800 level, watching for downside price action, and dow down 200 points nowor abou two-thirds of 1% yields moving high perp not helping the ten-year yield up around 11 basis points 367 the latest there tesla shares, that's the whole other story.

rising then dropping. rising, and now dropping again after ceo elon musk signaled he may stop running twitter based on results of that poll, but then tweeted no one wants the job and there is no successor. you can see tesla shareholders putting down shares a quarter purse. higher interest rates don't help either, ty. >> this week shows new light on whether the fed's rate-hiking campaign will tip the u.s. into recession, or maybe already has. key economic data and a handful of earnings signal to investors whether earnings estimates need to come down here with her look ahead, stephanie link from hightower advisers and a cnbc contributor welcome, stephanie what do you think? are we looking at an economic slowdown, and maybe, or most probably, an earnings slowdown neither of which are good news for stocks >> no. neither are good, but i would say that's consensus, tyler.

that the fed is going to be restrictive for longer and hold rates at a higher level. i think that's what the market is kind of trying to digest at this point what does that mean for economic growth in 6 to 12 months down the road given the lag impact and what does that mean for earnings, but markets are down 20%. nasdaq down 30%. priced in a lot of bad news. i would say on the good news, getting closer, at least, to end of the hikes even if they remain higher longer and start to get some kind of clue on what that means for earnings in the first quarter. obviously, in january/february i do think that there are some favorable attributes right now not getting mentioned. you have lower gasoline prices you have higher wages. you have good jobs you have more job openings than unemployed people. we have momentum in the economy right now. that's going to change, i get it, but maybe we can handle higher rates for a bit longer?

>> so if the market is telling you, is looking six months down the line, you would have to say that over the past couple of weeks it's been flashing a red signal right? >> yeah. yeah no i mean, it's -- doesn't feel good right? i think it's been a really hard year tesla sells as well. people forgot you could lose money in bonds, losing money and spods. my point, mechanism, down 20%, telling you, okay, yeah. slowdown coming. we don't foe if it's recession or not lowdown coming and figure out what happened with earnings. >> talking a nike, steph biggest to watch this week >> yeah. it's a busy week would, kel. right? make nike is a big one. we'll hear, i think, for demand. heard from capri, tapestry even skechers demand is fine, and

nike has sg & a leverageratch to pull, tweak up and down if thee need to direct to consumer, 40%, positive margin implications down the road. good bad, inventories last quarter up 44%. up over 60% in north america i think that's the one thing to watch, and i think the bogey is about mid-teens. see a mid-teens growth in inventory, i think that's okay enough looks like it will make progress from that 40% number and, of course, did they have to give away the merchandise what will crosgross margins look likn down 300 basis points to 400 basis points and see if they can come in better. >> yanother one you're watching, micron. >> i don't expect fireworks.

preaf preafounded twice. demand, and tied to pcs, smartphones. important to me is what it does for the semicap equipment companies. lowering starts by 20%, expected, that impacts the equipment. i think you're at close to trough earnings and a lot of bad news from micron is in it and very cheap. >> final comment general mills, fedex fed-exes feel more relevant since we're in peak shipping time for christmas and a leading indicator for the economy, but of these two stocks coming up what do you think the real tell will be for investors? >> well, for general mills all about pet business 12% total revenue. they're up can it hold the multiple it has seen 21 times up 28% on the year

fedex, absolutely right all macro and about they were a stay at home beneficiary with pricing power. what happened? express is week and grou-- weak ground strong. cost cutting as well a lot of moving parts going on in fedex. >> overall feel better or worse about the market getting through these reports? >> well -- i hope, because i own nike, we'll feel better. how's that i don't think we're going to feel -- feel that good about fedex. i do think you will get an opportunity, though, to buy the better of the two players in that space, u.p.s. >> thank you for your time, stephanie. >> thank you. >> stephanie elam. supposed to be a good one for banks. financial sector down 14% heading into final two weeks of trading with insurance name the outper outperforming's ahead for 2023 on cnbc today, 2022 didn't go as

expected but how to avoid pitfalls for next year joining us, author of this great article. hugh, great to have you back yeah again, insurance works but a lot of other things didn't what now >> yeah. a little funny, kelly, going into the year it was one of the favorite trades. bank of america is an example of a top pick of the commune. what happened? down 28% you know a few weeks ago broien moynihan talks about higher than expected expenses's lower than expected necessary interest income for fourth quarter. in a nutshell what investors are worried about. net interest margened, net interest income peaking earlier than thought benefit of rising rates waiting for and finally got. looking at higher expenses, because wage inflation and obviously a huge component of their workforce getting raises and most of all, bigger reserve

for loan office heading up into -- >> banks ran into, higher inflation. means higher costs labor costs most especially, and also the fact that maybe the economy's going to slow down here in the next year and they're going to have more defaults >> all of those things on top of the fact that if you look at wealth management, look at investment banking, look at the mortgage business. three really killers. >> exactly, hasn't exactly lit it up. >> terrible at this cycle. analysts commune saying for the most part, too early to invest in banks stay away from banks very least until delinquencies peak. >> been away a while i have questions all of the things you just mentioned absolutely clearly anticipatable? inflation's high, going to cost

them more! going to run, investment banking isn't good mortgage market is stalling. >> yeah. >> how many things, they are visible. >> and a year ago thought -- >> why >> 30 hikes, they thought, a year ago got 7. >> yeah. >> so velocity, aggressive nature of the fed because of the out of control inflation they had to combat, far higher than anticipated. there are, sitting here worried about recession in a few months. that's the thing that really kind of killed the bull narrative from banks, and now, take a look at this, john forte saying, on the other hand. if everybody is pessimistic about banks coming into the year perhaps weren't looked at. perhaps a soft landing, shallow recession, perhaps in, embedded in valuations is already a bunch of that. there is a possibility that we get inverse of '22

pessimism heading in and better than expected result heading out, in your great piece the other day, to your point is there a case to be made this year will prompt bigger business overhauls, businesses or just ride it out and wait for better fortunes basically >> okay. for the incumbent banks, they are set up, got the scale they need got millions and millions of customers needed just do fintech, let that leverage, the tech get heads out of their business. the others, i think basically looking at m & a at banks, smaller banks, potentially buying other smaller banks looking to scale up so they, too, can invest more in technology. >> technology replaced head count. sounds like a subtle theme for the year maybe hugh, thanks hugh son, appreciate it. coming up, nike shares, talked a little with stephanie

issues related to china. debate that stock ahead of its earnings tomorrow. and at&t's dividends made it a very attractive stock for investors outperforming thes&p over the past few months a prominent analyst says time to sell he'll make his case in front of all you. heading to break look at disney worse-performing stock on the dow after its new "avatar: the way of water" film, well, kind of looked soggy. performance there. back in two.

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xfinity rewards. our thanks. your rewards. welcome back to "power lunch," everybody. niking skirled to report earnings tomorrow often considers a proxy for consumer strength china's health and state of the retail industry, all in one stock. the stock down about 37% for the year so far, but has rallied about 23% so far this quarter. will the nike bulls win out in the new year or will the bears prevail? here with the bull case, omar assad with evercore osi, a buy rating and $185 share price target sam pozner for cautious, a hold with a $96 price target. begin with the bull case, omar

tell us why you like the stock and think it can go up so much from where it is now >> sure. a couple quick key reasons behind our obviously very bullish stance number one, we think relative chronology, and stock down, valuation range 26, 27 times, earnings reported last year. also, at the same time think this company still has tremendous profitable opportunities ahead, and key possible -- including china going from a headwind to a tailwind, and four-star sneaker super cycle, sneaker, inflection point decidedly and global demands for sneaker. sneakers across all locations -- accelerate from here and nike is

the biggest industry player in addition to a benefit in -- >> wait. back to this point i thought you'd say hit peak sneaker and everyone's going back to high heels but you think we'll keep growing, sort of hit a tipping point? more sneaker sales to come >> yeah. actually i think it's a little of misperception on sneakers booming during covid leisure apparel did much better. people wearing a lot of comfortable athletics. you know, yoga pants and sweatpants and a pair of sneakers especially from vietnam, really missed out several hundred billion of volume during covid and same time our consumption of sneakers, frequency we use sneakers, number of sneakers we all want in our closets, socially acceptable including wearing them to work, work from home as well it's a in

restaurants. demand's in sneakers question. hasn't caught up to supply and demand really benefit all sneaker companies but nike most in the end. >> sam what are you holes you see in the narrative price target of $96. stock is a little above $100 right now. so i guess sort of what are the holes in the narrative and is your hold rating on the stock really a hold or is it a wink-wink sell >> it's a hold i am not afraid to have sell ratings on stocks, as people who know me know the problem here, though, is that nike is, is the best sneaker company out there. however, there's a lot of sort of holes in the story right now. there's not a lot of visibility. their supply chain for a company as big as nike, with all resources it harks its supply chain is pretty much lagging everybody else out there

china could be good, but the reopening doesn't seem to be going well and they've been very promotional lately to clear a lot of inventory, which -- excuse me -- which puts them in an interesting position, because they've got to come out with a lot of really good stuff next year, and our techs are saying there's not, outside of jordan, air force ones and dunks just not a lot of great product especially in running, out there. so, on the apparel side, that's sort of a coin flip, but once people get used to buying things on sale, you better come out with pretty good stuff to get them off that. >> and bore in on one of the things you said there. that nike's supply chain is lagging everybody else's out there. what does that mean? and why are -- why do they find themselves in that position? what does it mean that their supply chain is worse off than their competitors like, i

suppose, adidas and others >> i think that, and i -- i believe that they -- that a couple years ago a lot of very senior people were let go from nike, and then when the supply chain issues came down, there weren't people that had all the relationships. so as recently as -- you know, i think the last quarter, maybe quarter before, they were still out 70, 80 days on orders coming across the pick. while a lot of other companies are in the 40s and going down. and granted, nike is the largest company of all of them, but they also have all the best resources, and i can't tell you why, but, you know, it's evident and also evident in the product that came in late from spring and then on time for fall, and they didn't talk about that in

june they waited until september to talk about that. >> okay. >> so -- you know -- >> let me give omar the last word here by way of rejointer to what sam has been talking about, and you've got a $185 share price target, which is basically double what sam's is, and up roughly $80 from where it is today? >> yeah. shout-out to sam sam's a great analyst and i don't actually agree with the supply chain nike has. i would say mostly apparel issues the company really two-thirds sneakers in terms of sales, and probably 80%, 90% of the market value wrapped up in sneakers so the story in the end, their management-built experience and managing through this, it's not going to be rocky like this forever even if another global

pandemic, the supply chain will react. real but transitory and a real market, and data points on sneakers whether footlocker, sporting good comps, excellent that's nike's bread and butter leave it there gentlemen, thank you so much omar assad and sam poser, appreciate your time. breaking news out of the january 6th committee hearing in washington, and ylan mui has details. ylan >> reporter: tiler, the select committee investigating january 6th just voted to issue criminal referrals for former president donald trump to the justice department those referrals cover obstruction of an official proceeding, conspiracy to defraud the united states, conspiracy to make a false statement, and inciting or assistants an insurrection now, the house committee approved the referrals in a unanimous vote lawmakers said president trump wrote the fate at the foundation of american democracy and is unfit for office.

>> we proposed to the committee advancing reaches where the gravity of the specific offense, the severity of its actual harm and the centrality of the offender to the overall design of the unlawful scheme to overthrow the election compel us to speak >> now, the committee reare leased a summary of its final report that lays blame for the attack at the capitol squarely at trump's feet. it says, the cause of january 6th was one man. former president donald trump, who many others followed none of the events of january 6th would have happened without him. no former president has ever been indicted. we have reached out to the justice department for a response, but do remember the doj has already named a special counsel to look into whether trump possibly committed any crime and in addition expect to learn more from the committee later on this week when its full vort released wednesday, but for

now, the committee sending criminal referrals to are former president trump to the justice department. >> ylan mui, thank you. and downgrading at&t to sell a decent year but same time getting bullish on verizon, one of the other outperformers last week at certain points both stocks down at&t by 4%. are today's winners tomorrow's losers? often are. trading names due for a major decline in 2023. a sneak peek there many cnbc's "three stock lunch" is coming up on "power lunch." stay with us.

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if you wanted to hold my hand... for smarter trading decisions, [ gasps ] all you had to do is ask. i am down to my last life. when you only have one life... that's what makes it special. go get 'em tiger. welcome back, everybody pap in a year markets lost most momentum, pretty good now burnbu burdened with baz news talking at&t our next guest says the stock run its course with us, craig forrette. craig, great to have you here and looks like this call is taking a toll on at&t even today. down 4%.

what are you concerned about for next year? >> good to be back, kelly. so, look, no secret. relatively bearish about the wireless sector for the past couple of years. and top some extent this is just positioning. back in july we downgraded verizon. not because we thought verizon prospects were worse than verify rising, or at&t i mean, but expectations weren't at low for verizon and thought they should be in the past few months verizon sold off so hard and partly in response at&t bounced a bit. a really wide and quite unusual divergence between the two stocks and it flips the, the relative value as you go into the year. as we go into '23, it looks like now expect aces and valuation for at&t are inflated and

verizon, if anything, slightly over shot to the down side. >> i've got a question of all the companies i can think of over the past half decade or so, i can think of none where the executive decision-making is, has been more questionable than at&t. do you agree or disagree >> look, it's very hard to make any other case than they've had a very tough go of it. right? and there was an article in the "new york times" a few weeks back that called the time warner acquisition perhaps the worst deal in american history i imagine -- >> that's compared with another time warner acquisition! as well. >> and -- may have been worse, directv. >> may have been worse exactly. >> in some ways a lot of at&t's troubles really trace back to the directv deal more than the time warner deal, but all the same, and you can't just unwind

those transactions. >> right >> with a wave of an arm and say, well, sorry my bad it's all taken care of because you're left with an enormous amount of. >> debt. >> damage. >> yeah. reputational damage, debt, a lot of things that are going on there. it is funny, or ironic, i suppose, time warner shows up in the list of worst deals. i mean, just -- well, they don't exist anymore so whatever. what turns it around for at&t, if anything, craig >> it's very tough i mean -- look here's bottom line, tyler. any industry isn't growing growth rate for subscribers coming down relatively sharply back towards more sustainable growth rate close to the population growth rate concentration of wireless is pretty well saturated now. it's not a growth industry, and they charge high prices in an industry where t-mobile and now

the cable operators charge lower prices and have equivalent or better products. in t-mobile's case, for the first time can make a strong argument t-mobile has the best network. exactly the same problem verizon and at&t are both struggling with they charge too much for a product not differentiated and marginal costs are low enough to cut prices, but the problem is their balance sheets are too bloated for that to cut their prices they have no choice but to stick to these very high prices leaving it awkward and problematic from the consumer proposition. >> they have lily. the pitch woman. their benefit. thanks. and cnbc news update. >> tyler, thanks what's happening at this hour. president vladimir putin made a rare trip to belarus for talks

with president alexander lukashenko over fears of a fresh ground offensive in the ukraine. the visit raises speculation the kremlin is looking for military support from belarus that comes a few days after the biden administration told members of congress that ukraine has the military capability to take back the disputed territory of crimea. holiday travelers should be on alert a high-impact storm is expected to wreak havoc this week bringing heavy snow and wind to portions of the u.s., just in time for holiday gatherings. significant impacts are expected to hit the major travel hubs stretching from the midwest to the northeast between thursday and saturday a lot more rudolph. and tom cruise thanked fans recently in--well, very tom cruise way the actor offered thanks to fans for supporting "top gun: maverick" while skydiving. he performed the stunt filming

the next "mission: impossible" movie. two very lucrative franchises there, tyler. >> i saw this the other day and didn't know it was tom cruise. i didn't know who it was he looks a little different there with, going -- >> a little different skydiving. >> 200 feet per second. >> i can't imagine speaking skydiving. >> i wouldn't even. >> famous for doing his oh stunts. power rankings with just a few days lift in the year a look back at corporate america and today we focus on the boardroom ranking top ceos as well as biggest disappointments of the year all before the start of a fresh new year. plus -- speaking of starting fshre, in today's "clean start" one company that is building high-powered battery generators. "power lunch" will be right back.

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welcome back elon musk putting his role a twitter ceo in the hands of tweeters the kpoi's owner posting informal poll asking whether he should step down as ceo. majority said, yes 57% said give it up. musk claims he'll abide by

results but it's unclear if he actually will. poll went against him, our viewers seem to think he's doing a better job than other prominent executives's you see from results here. who is ceo of the year, musk got 40% of the vote. >> wow >> followed by tim took, jamie dimon and bob iger. >> and can't deny prominent. in many ways 2022 the year of the ceo. today we rank the best and some of the worse from musk buying twitter to sam bankman-fried's collapse at ftx. bob iger's return, jamie dimon's dire economic warnings which companies are set up for success or disappointment with the 2022 rankings? bring in a school of management senior dean for leadership and cnbc contributor which choose first top five best guys, besties or wofrsties

besties. led by a person who's taken this huge company from basically dead money to being red-hot red money. >> i think that you're right, tyler, and, kelly good to join you guys fun to come in end of year busy grading exams of performance of boards and ceos. looking at microsoft, a remarkable story since taken over, satya nadella stock is up, and things done there. just had him with us and bill gates a few days ago gates gave a ringing end endorsement. i was friends with steve ballmer and gates pointed out deserves credit for fortifying microsoft's pureless position after all kinds of efforts at transformation into the cloud. a year's-long transformation of microsoft, re-ignited a culture of innovation pap great

footprint in the software space. $60 billion of commercial plow business with azure and office and linkedin commercial put together, which has been remarkably successful, and these are some 50 companies still that he seamlessly wove in to the tapestry in these acquisition smooth integration, and on the social impact front a leader in fortifying democracy, looking at environment impact without detracting at all from shareholder value. in fact it's soaring with this. >> first time in many years, i mean, maybe even since gerstner you've got an ibm ceo in second place here. >> yeah. i think that's -- sort of a remarkable -- we've seen accomplish at ibm. you're right it's been difficult. accelerating ibm's transformation although at the summit generous complementing

satya nadella, what microsoft has done but what he's done, stock up around 50%, but half of his revenue now is software and consulting solutionse you would have thought hardware and heavy met until years earlier. cash generation doing well he's -- it's really been quite a successful reign and a full suite of software solutions and doing quite well as he's forged great partnerships that's been terrific even with microsoft through azure and others i think that that's been, i think, a surprise to many in what's been a tough year on the stock market and a tough year, of course, for technology. microsoft really is, and ibm, stood together as towering above the pack. >> get to the ceos in the hot seat elon musk. actually you think binance's ceo, and ask you why, should

mark zucker begg be on there not short to citigroup you think number three i'm confused why >> i know. you can see the stock performance not off the top. only been in office just over a year so it's soon to consider somebody's evaluation except look at the starup i can't think of a ceo in a non-crisis situation way more successful taking charge process. she has pivoted away from focusing on international consumer business to develop wealth management. also moved away from a lot of the cyclical business that used to drive them. a low-end cyclical business to a much higher-end fee for value and i think re-engineering are her risk management, classically sort of taking over, reversing course on a battleship that's hard and ambitious. >> yeah. not quite peace prize like obama

being elected but it's early. >> and mary barra on the list. would have been there. >> pivot and talk about ceos on the hot seat elon musk an obvious one what about binance in particular and in the world of crypto, how will this play out >> it's really tough i mean, i'm surprised to see the cnbc viewer response you saw what the twitter vote was over the night on this strange poll he put out. obviously, with 60% of viewers saying, users saying, step down. we saw that that was good news for him compared to what the ceos had to say about him. people suggest that he already was getting pushed out by some of this investors, because he couldn't buy this, by the way, on his own tesla stock roughly 80% believe elon musk is a tete trament to value of his business according to surveys and roughly 70,percent believe twitter's best days are behind

it only 20% think valuable in five years and 98% believe musk overpaid and 56% believe people should stop advertising on twitter. some tech titans tell us they think he's going to take -- heard it here first -- the engine he has behind paypal, and others who pounded paypal, he and one other control that one and try move it in to create electronic currency here people don't trust twitter, advertiser fleeing and all the way, even though trying to drive traffic with allowance of hate speech and the rest it's going to backfire if people don't trust the platform and everything else collapsing around him running six companies, working a 12-hour day. we know he's not with all of this clowning around give him 129 hours less than an hour and a half per company to run these companies what's the boring company done except live up to its name where's that tunnel in las vegas and los angeles? where's that fleet of autonomous

taxis, production in shanghai and china overall. a lot on his plate with twitter a distraction he didn't need. >> my sense t, there is a core f folks reflected in our poll who like musk because he is so unwoke, and takes on the woke, so-called woke crowd go to c.j. zschau of binance h why is he a problematic ceo in your view? >> seems he had something to do with taking down a major competitor, that c.j., maybe single-handedly, although tried to present himself as heroic, he surely had a crashing influence on, of, on ftx, and rather than celebrate that he's got his own problems policymakers are very skeptical of him a lack of transparency may, in fact, have suffered comparable loss of trust there and has yet to produce the public has gotten weary of a

lot of ambiguities, jargon and crypto confidence, and i think that given his exposure, that's all he has there he's got big trouble a lot of accountability problems coming after him an unenviable tank. >> thank you, as always, for insights and for this provocative list appreciate it. have a great holiday season. see you next year. >> thank you i want to draw viewers' attention the dow is now down 305 points we've got an eye on it so should you. >> trading heavy again at the close. coming up, generation change look at one company trying to fix the problems caused by diesel generators in today's "clean start."

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replacing gasoline power in

a car. aspects your home with battery power fast becoming a common desire diesel general raters still for industries that need high affordable power at least for now we explain. >> reporter: kelly, go to any construction site or movie set and you will hear the rumble and roar of diesel generators. high-powered, portable and terrible for the environment, emitting dangerous levels of carbon as with everything else, rates for electrified portable energy is now on. while big legacy companies like generac and caterpillar are offering small generators in addition to dees's line, this california base start-up is focus focused entirely on this building battery powered generators used in anything from construction sites to movie sets replacing diesel. >> generators are notoriously

difficult and expensive and burn fuel inefficiently problem generators running on idle a lot regularly extremely wasteful and terrible for the environment. >> reporter: under objemox yon' model, using technology alerts them when batteries are running out to replace them with no lapse. >> we know exactly what the state of charge is. >> reporter: amazon currently leasing generators for two productions. a movie and a streaming series powering cameras, base camp, hair and makeup trailers and other production commitment. >> one of the duties of the unit, dead quiet, zero emission. >> reporter: roughly half the carbon emissions from the average movie set come from the fuel used to power generators and transportation ellis says since these generators are zero emissions they're more versatile. >> they can be moved indoors for

unique shots and they really allow our team to think about new ways of filming productions than they used to. >> reporter: backers of the microsoft climate innovation fund, the amazon climate pledge fund and enterprise holdings, energy impact holdings, tam rack global and sun belt rentals. total funding $110 million. >> the ceo says they're still looking at expanding the potential uses for the generators but they are competitive in price for companies looking to buy the generators and may, in fact, end up cheaper buzz they're less expensive to maintain thandie sell models. >> but it sounds like cost is an issue right now, which is why everybody's leasing them, is that right >> also because this is very new technology, crow never know it's going to improve more. next year, they'll have a better model, so don't invest in it you. >> dnaia, thank you very much. today's three-stock launch, running through names set to

potentially drop in the new year "power lunch" will be right back

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welcome back, cnbc pro out with a screen of of stocks to

beware in 2023, 20 names with the most to lose based on the average analyst price target for the shares compared with where the shares are trading today on that list we've got clorox, etsy and campbell's soup don't mix these up, folks at home let's bring in ava ottos, chief investment strategist at a.r. shares clorox was a pandemic darling. you don't drink it to get rid of the pandemic but certainly it was part of the cleaning frenzy that we all went through. >> yes, definitely, so that's covid play, it's experiencing the worst profit margins it has had, a month or so of margins, it has had in the last 25 years and then among the highest -- it has had in the last five years it's skilled up quickly to meet

demand and now demand is down and they have extremely high costs that are not able to shed quickly. so for that reason they're seeing their margins squeeze that's why the sell. >> oh, that's a problem. >> full out sale okay. >> what about etsy >> etsy is a hold, among the few companies in this category that are making money now in fact, it's even margin, at 16%, compared to minus 9%, it's also about seven times the margin of amazon so its fundamentals look strong. however, its valuation is higher on the relative rate basis, and that's why it's not a buy, just a hold. >> let's move to the last one which was, again, i guess a hot shot during the pandemic because it's comfort food, the ultimate comfort food, campbell's soup. >> no, i like this one because i like the category in general. staples, including foods, will do well in a recession nair

market they have already been performing well. even though i think it's a short-term buy, and it wouldn't encourage investors to hold it as we exit the recession, i think the play for the reces recessionary markets are eroding. >> look at the move in that stock. ava ados, we appreciate it. for more stocks to beware in 2023, head to cnbc.com/pro. more on the markets when "power lunch" returns like tyler pointed out, we're in session lows, more on the other side

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welcome back, wear, we have the markets, dow down 314 points and this is the outperformer today, 1% drop there, s&p trying to cling onto that 3800 level, down about 1.3% today, tyler the nasdaq, again, the bottom of the pack down 1.7% and it's down 8% this month. >> you also forget, you're still seeing the idea that rising interest rates are an -- tech stocks, means their cash flows are discounted even more. >> look at the ten-year. >> there's the ten-year note at 3.58 at any rate, the market seems to be, you know, it's thinly traded right now. this is not going to be a high volume week as opposed to that's

week. >> it's still throwing a hissy fit about the fed. until any signs they might ease off and say you know what we've had so many inversions and forward leaning indicators, maybe we should back off, until we hear that talk, you'll see this kind of market. >> until there's really a pivot. >> yeah. >> good to be back with you. >> it's great to have you back. >> great to have you back. >> great to be back together. >> thanks, everybody, before watching "power lunch." >> "closing bell" starts right now. that's very much, kelly and tyler, stocks under pressure in monday trading heading into the final two weeks of the year, sitting right now at or near session lows now, this is the make or break hour for your money, welcome to the closing bell, i am dominic whic chu, in for sara icenen. the dow industrial is down 1%. 30,618 the s&p, down 1.25%.