ferrari and other super brands expected to post record results this month kelly, no sign yet of a slowdown. >> all right for now, robert, thank you that does it for "the exchange" everybody. "power lunch" begins right now >> kelly, thank you very much. welcome everybody to "power lunch. i'll tyler mathisen. stocks rising today as the markets seem to be buying into the soft landing and second half recovery narrative the fed does seem insist stent that the inflation fight is not over far from it. meanwhile, signs the consumer starting to crack. political pandemonium. 1200 people arrested in brazil after protesters stormed the government buildings to protest what they believe was a stolen election here in the u.s., how will republicans move on after that ugly house battle over the

speakership. >> tyler, thanks welcome back markets giving up earlier gains. the dow went briefly after comment from raphael bostick of the atlanta fed saying we might have to overshoot even after acknowledging he was open to different rates for rate hikes 1.5% gain for the nasdaq, adding to gains as well on friday the dow was up 700 points in the session. today the chip stocks leading the way. we have big gains for amd and nvidia seeing improvement on a number of fronts this year, including inventory and pricing. look at the relief for beleaguered chip investors amd up 7%. >> busy week ahead for the markets. another read on inflation and the consumer in the cpi report on thursday. plus earning season kicks off with super friday as several big banks will report on that. with a look ahead, stephanie link, chief investment

strategist and portfolio manager at high tell advisers and cnbc contributor. let's start with the economy, steph and talk about the cpi what the consensus is what you expect the numbers to show will they be good enough to sort of quell the markets >> well, they're going to be i think lower than last month. core number could come in at just .2 to .3. the headline number month over month might be flat. overall, i look at the year over year pnumbers to have perspective. headline could be 6.5% the core number about 6.1. even though these numbers are coming down, they're still elevated with a 3.5% unemployment rate and the non-foreign payroll wage number still at 4.6% last week, i think the fed will remain hawkish and higher for longer.

>> you think the fed is going to stay higher for longer of course, mr. bostick sort of suggesting the same thing. >> sure. look at the non-farm payroll numbers, it was a good report. wages were still high. you look at the jolts number, they came in better than expected at 10.4 million two job openings for unemployed person the job market is still tight. the adp wage number last week came in at 7% year over year for switchers, those were switching jobs that number was 15% wage growth. good for the consumer for sure but this is not going to deter the fed in terms of being much more hawkish for longer. >> stephanie, what should we expect with bank earnings. as we just talked to hugh about last hour, goldman is different than the others. wells, b of a, jpmorgan. remind us which of these you

own. is the bar high or low going into this do you think >> i think the bar is low, kelly. i don't think it's going to be great. i think you want to be very careful and company specific in terms of what you own. the big themes, though, i think for super friday, going to be strong net interest income and strong net interpretest margins. it bodes well for those sensitive to the fed funds rate, that's wells fargo, bank of america and to a less ser extent jpmorgan on the flip side, higher provisions, higher reserve builds and higher expenses and fees that will be weak i wrap it all up and thinking 1.2 times book with good dividends and good capital i think the bar is set low enough >> which of your group are your favorite maybe not wells with those can we lump them all together and separate them out from what we'll hear from morgan stanley

and goldman after that >> yeah. i think wells is definitely -- it's my biggest position for sure i do own bank of america to be clear. wells is a special situation because they are sensitive to rates. so for the hundred basis point move in net interest income -- excuse me -- every 100 basis point move in the fed funds, net interest goes up $2.6 billion. they have a cut kurting program under way. the big number $12.3 billion in expenses for the quarter i think they can do that and guide higher for the next year it's going to be less bad versus some of their peers. bank of america already gave us new numbers on december 6th. i don't think you're going to see much surprise there. i don't think it's going to be that great i do think expenses are running at the high end. that being said, net interest income will be up a billion dollars sequentially for them the stock is super

cheap, 1.2 times book. jp, i just keep an eye on. everyone wants to hear what jamie dimon, the ceo does. they've sum bld in terms of expenses i think the expense number will be very important. i own morgan stanley it's a different animal. so is goldman sachs. we're in the bottoming process of capitol markets that's why i like morgan stanley. it's my favorite for the year. >> comprehensive we've run out of adjectives. stephanie, thank you so much we appreciate it >> thanks. >> great, that's all the work i need to do for the week. i know what's coming up. kevin mccarthy finally gets elected house speaker on the 15th try his victory comes with concessions like new rules to rein in his power. should wall street brace for more big changes let's ask libby cantrell from pimco. one guest last hour arguing no,

no, republicans will shut things down it doesn't play well for them. what do you say? >> we'd be more in that camp some of this is a bit overblown. yes, kevin mccarthy made some commitments to cut spending or bring a bill that would cut spending remember, as you know, kelly, democrats control the senate, biden controls the white house there is no way, no how that he will sign in to spending cuts. the most republicans can hope for is flat line spending from last year which is still elevated from the previous year. that seems to be sort of the best they can hope for in terms of the debt ceiling, we knew this was going to be an issue. the minority party always uses the little leverage they have. the debt ceiling is the source of leverage they have. remember here there are 213 democrats who would very likely support a clean debt ceiling increase maybe only pick off five republicans in order to raise

the debt ceiling we think there will be some headline risks, maybe some associated market volatility in some ways we think this is much ado about nothing spending will be in focus as we expected again, we're not expecting the republicans to push us actually to the brink in terms of default for sure. >> that's very interesting it has occurred to me that i suspect there are a large number of, let's call them, moderate or responsible republicans on the debt ceiling who would go along with the democrats to avoid default. so you may end up having some kind of bipartisan action on that >> tyler, this is actually how the debt ceiling has been increased basically every year, increased with sort of a coalition of folks, including democrats and some of the moderate republicans you speak of in terms of this congress, there are actually 18 republicans who come from districts that president biden won, many of whom are in districts like in new york and new jersey.

so they're even more sensitive to sort of the financial markets and what have you. and presumably more inclined to pass a clean debt ceiling increase now, the real question here is how do you get such a bill on the floor, not to get too wonky here but there is a mechanism if push comes to shove, democrats and some of the moderate republicans can sign what's called a discharge petition to force a vote on the debt ceiling again, we think there's a release valve. it's not to say there won't be some dysfunction and brinksmanship and what have you around the x date, but we don't think it will result in default. >> not to walk out here, but why would you need to invoke a discharge petition is that because the rules committee would hold upbringing such a bill to the house floor >> that's exactly right. one of the concessions that speaker mccarthy did make was to put three members of the house freedom caucus on the rules committee, that's three of the

nine republicans they could theoretically hold up such a thing from advancing to the floor of the house and speaker mccarthy may also be reluctant to bring up a clean debt ceiling bill because, of course, there is that sort of motion to vacate the speakership that will be over his head as well again, when push comes to shove, if speaker mccarthy and the rules committee doesn't necessarily advance it, there is another mechanism in order to bring up and again increase the debt ceiling. >> two quick questions if i'm reading the sort of bill of concessions correctly, it's that spending will be -- discretionary spending, i should say, will be frozen at i believe fiscal 2022 levels that's part of it. that's number one. number two, the idea that any member can bring on the floor any number of amendments to appropriations bills. that sounds like a recipe for gridlock how long will either of those two things last?

>> again, just to put this in context here, tyler, even if there is a bill that passes that cuts spending to fy '22 levels which would entail $130 billion cuts of discretionary spending, that's not going to pass the senate and not going to be signed into law. again, it's more symbolic than substantive. mccarthy has guaranteed he will bring that to the house floor. not sure that would even pass the house. this terms of the amendments, the appropriations, we'll see. you're right, that is a recipe for mayhem honestly. we've seen it before >> we've seen it before and nothing gets done. they scrap that and go back to passing omnibus bills and limiting the number of amendments that can come forward. libby, thanks so much. great to see you >> thanks. >> libby khan tril, pimco. the market seemed to think inflation is peaking but the fed says there's more

work to do and the consumer is telling a completely different story. who is right we're also seeing a disconnect in the housing market. prices still close to record highs. according to a new survey, home buyers aren't so worried about affordability. we'll talk to the alanyst behind that report when we return stay with us

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the u.s. economy at a crossroads we can't agree on how bad things are or how bad they can get. powell and the fed think the economy is still too hot they say their job isn't done and more hikes are needed. investors are demanding the total opposite they want the fed to slow down in their eyes inflation and other conditions have improved the market's most important thing is to avoid concession there consumers are feeling this is all moot. the recession is already here. for many americans, debt is growing and times are tough. steve liesman here to discuss. you can make sense of this, steve. how do you explain it? >> there are two arguments out there, not proffered by crazy people you want to give them a little time i think with the data on friday, the wage gains coming down, and not only that, but they revised away the spooky november 0.6% increase that had everybody freaking out a little bit. you had job growth slowing, unemployment fell. the biggest part of the economy falling into contraction

territory for the first time since obviously 2020 before that, 2008 was a pretty good harbinger skip the first chart and go to the prices paid index. i want to show you this. the fed is all worked up about service sector inflation take a look at the price index from the ism services -- you guys are great in the back there. what does it look like to you, tyler, we round-tripped that puppy? >> yeah. >> you add in the stuff that kelly was reading at the top, the savings -- excess savings that people had seems to be winding down still some out there that's going to be spent out in the next quarter or so you add to that the idea we have data shows people are stretching more on their credit cards so there's that stress out there on the consumer, all of that would tend to argue that the market may have this right, which is twofold not only is the fed not going to raise, but the fed is going to reverse course. >> what all those numbers point to is a slightly cooling

economy, right >> yes >> but not a crashing economy. >> not a crashing economy at the moment you don't know, just because the line stops here doesn't mean it doesn't keep going you don't know some of these things can have momentum, whether or not you can turn things around. look, what's happening now in board rooms. people are getting together and saying you know what we want to probably stop hirin right here, at least in a bunch of businesses and maybe want to hold off on capapx all that around the world creates outcomes that may not be well. >> i understand why it's confusing, especially on two fronts one, the labor market is strong because we were overheating. inflation early last year -- remember the consumer sentiment number it hit a record low last june maybe, a reading of like 50. it's unusual for that to happen while the economy is in the expansion phase. it could end up being it was two years before we went into

recession. >> what's confusing about this is we're stillrebounding from the pandemic, still putting people back to work. you look at the sectors where we have the job growth on friday, leisure and hospitality, education and health services. my might be getting bored of me saying that. month after month those are the leaders. we're not seeing a lot of job growth in areas outside of those two rebounding areas >> exactly >> steve, thank you. >> do you get it now >> i do. >> i'm going to go scratch my head and see if i can figure it out again. >> steve liesman, thanks so much. mortgage rates are double what they were a year ago. even with that huge jump in rates, consumer confidence in housing is beginning to rise thanks to falling home prices. according to a new survey from ubs, potential home buyers aren't scared off by the affordability headwinds. joining us is john lovalo with ubs. what did the survey say?

happy new year. >> happy new year. thanks for having me the survey said first 39% of respondents say they planned to buy a home in the next 12 months that's only been surpassed once in the history of the survey back to 2014 70% of respondents said they believed buying a home, an affordable home would be reasonably easy for the next 12 months that says a lot. what it does say is this buyer is willing to make concessions, willing to move further away from the city, willing to buy a smaller footprint. this is a need-based from being higher 89% of respondents said they believed the value of their home will be the same or slightly higher in six months there's not a great expectation that prices roll over here that sort of rounds out the key points of the survey >> i'm stuck on the first number you cited.

that's 2 of 5 people in this survey say they're going to buy a home in the next year? >> yeah. your skepticism is understood. i think we had the same talk last time i was on when 44% of respondents said they intend to buy a home it is a little surprising that being said, it shows the underlying demand in this market and the fact that we're underbuilt as a nation and people need homes. >> this is so spot on. i was speaking with a realtor yesterday, john, who said in her 40 years of working in that town, she had never seen this little inventory on the market >> same in my town >> exactly there's nothing on the market because nobody wants to move and have to trade whatever a paid-off portion, low mortgage rate for a much higher one interestingly enough in terms of pent-up demand, a lot of people said affordability wasn't a concern. it tells me it's not the level of home price, not even mortgage

rates. it's really just the lack of inventory. would you agree? >> i think the lack of inventory is a real challenge. only 3.2 months of existing home inventory on the market. that constitutes 90% of total inventory. without that inventory out there, what i think it opens the gate for is the new home builders to be very well positioned they're the ones putting incremental inventory in the market we think that's where the real opportunity will be, particularly at this first-time entry-level buyer that is so desperate for a home. >> there hasn't been a sector that has been more roundly crushed than the home builders in the past couple years you like basically all of the ones you follow. you have buy ratings on all of them of your universe of home builders, what is your fave among faves? >> sure. i would say stocks have done incredibly well since june outperformed the market by about

30%. there's been a big snap-back off the bottom if the stocks work, they're all going to work. that being said, we have our favorite i think there will be differentiation as the year progresses d.r. horton is the topic they're focused on the right part of the market that we were talking about, entry level first-time buyer very consistent executer. >> john, thank you very much we appreciate your insights as always john low vallow. >> thanks for having me. still to come, conserving space. we'll take a look at one startup trying to make clean, reusable rockets. plus ride-sharing the wealth piper sandler upgrading uber saying car prices will opt for consumers to turn to ride services

welcome back to "power lunch. i'm bertha coombs. here is your cnbc news update. the husband of a missing massachusetts woman is being held on half a million dollars bond for misleading investigators searching for clues about his wife's

disappearance. brian walshe was arrested yesterday and made his first court appearance today prosecutors say they found a broken knife and blood in the couple's basement and they have video of walshe buying $450 of cleaning supplies the day after his wife was last seen walshe pleaded not guilty. traffic deaths edged lower in the first nine months in nine years. pedestrian and cyclist deaths continue to rise overall traffic deaths remain near levels not seen since 2005. a pioneering rest orange county voted the best in the world is closing its doors nomo is closing its original location in copenhagen which helped usher in a new generation of ultra fine dining the head chef says the business model is no longer sustainable gourmets will have until the end of next year to enjoy one last

meal costing over $500 per person that's more than most weddings >> that is a lot of money for one meal all right. thanks, bertha. ahead on "power lunch," a continental shift, unrest in brazil, the migration crisis and energy prices all front and center as leaders of the u.s., canada and mexico come together in a try lateral summit. the first time that has happened in quite some time we will scdiuss with the atlantic council's fred kemp next

welcome back everybody 90 minutes left in the trading day. dow hanging on to positive territory slightly we want to get you caught up across stocks, bonds, commodities and the chaos in brazil over the weekend. let's begin with bob pisani with the dow way off its yields. >> lower yields. the soft landing scenario becoming more of a meme out there. that's what everybody wants today. that means growth stocks the leadership board on the dow, all tech salesforce, apple, intel, microsoft. intel is up 12% this year. we've had -- salesforce up 10% we've had amazing runs with some

of these tech names. also speculative tech also is moving coin pace, uipath, roblox, tesla, all kathy wood holdings you see as a group rallying rather noticeably. the dow laggards today, it's all the consumer-based low volatility stuff it did so well last year travelers was at a new high. so was merck nobody wants it today. mcdonald's caterpillar, a new high a short while ago. that's lagging today finally, what else is doing well today, anything that is travel related, anything material this goes to the soft landing crowd. united airlines up 16% so far this year. carnival up today. freeport is up 15% dow, another dow component up 11% today. so kelly, lower interest rates make growth stocks and broader economy stocks a lot more

attractive >> feels very prepandemic almost, bob. thank you very much. our bob pisani in the bond market, rick santelli tracking the deeper inversion in the three-month and ten-month yield curve. >> we have the historic inversion of three months versus tens we see two yields starting to roll over while everybody is paying attention to long-dated treasury yields. look at this two-year chart going back to mid october and realize should we close under 4.18, it will be the lowest since mid october. when the short end starts to turn lower in a market driven by fed nervousness, you need to pay attention. the ten-year current on pace for the lowest yield close in three weeks. however, anything under 3.41 would be the youngest close since mid september. i know we're a bit aways from that it certainly happened quickly

after at the end of the year we saw rates moving up off that support level. we're getting close to retesting it again keep in mind, 3.48 to 3.50 is considered a big pivot by the technicians trading ten year it's gone from darling to future in a quick amount of time. we're on pace for a six-month low close. kelly. >> back to you >> so many countertrend movements here rick, thanks >> oil is closing for the day. what's it tend look like let's ask pippa stephens. >> prompting optimism around the demand rebound china the largest crude importer brokerage bvm noting the reopening will provide an immeasurable layer up at 74, 74 turning to nat gas, jumping 5% after dropping down 17% last

week and hitting its lowest level in more than a year. ebw analytics noting the fundamental backdrop remains weak today's momentum is short sellers taking profits the energy sector is lower today. oil field services stocks are in the move title abyss to bliss, bank of america saying it's hard to avoid the oil services names anymore despite outperformance last year. an increase in spending, especially international drillers will boost investment in the services names. one is schlumberger hitting a more than four-year high. >> they're not schlumberger anymore? >> no. they're sld. >> who is it ey, slb, ab. we have all these acronyms we've lost something pippa stephens, thanks president biden landing in mexico for his first trip to the country since being inaugurated,

joining the three north american neighbors. this marks the first time a u.s. president visited mexico since obama in 2014. we're joined by fred kemp, president and ceo of the atlantic council what are you watching? great to see you again. >> great to see you, kelly there is a change of globalization. some people talk about it as deglobalization. it's just really a changing of supply chains and what janet yellen, the secretary of the treasury said at the atlantic council was friend shoring or near shoring that makes mexico a lot more important. so last year a lot of americans don't actually realize this. last year america passed china as the number one trading partner of the united states they have a lot of manufacturing capability around automobiles. and the real question is can we fix immigration systems, can we fix some of the violence in

mexico can they build some of the infrastructure that china has so this story of u.s.-mexican trade and obviously canada as well, this will be a north american leaders summit, can be one of the great success stories. we don't concentrate enough on our own region and our own neighbors. this could be a good news story. >> let's talk a little about immigration. the president going to the border for shockingly to me the first time during his presidency is there a solution there that you see, fred, that can be worked out if so, what is it? >> well, that's a really good question the answer is there is no simple solution, but there has to be something that moves things further along from where they are right now. we're told at 6:00 p.m. the president will be meeting with president lopez observe door of mexico top on the mexican president's list is going to be a discussion of taking on the root causes of

migration. that, of course, is economic development, creating jobs to a certain extent it's also criminal crackdown the mexicans seem to be willing to take more returns of immigrants so i think it's being -- we have 1.6 million-person backlog with immigrants so thousands of people are crossing the border because they think it's going to take so long to become residents the president wants to bring in more people that are truly under threat from venezuela, haiti, cuba and be able to turn back the people that are not legitimate -- >> do we know, fred, and forgive me for not knowing -- i should know this -- the percentage, roughly, of those people coming across the southern border who are mexican as opposed to

nicaraguan, venezuelan, salvadoran. >> the growth has not been mexicans the growth has been with cubans and venezuelans and haitians and nicaraguans. >> fred, also curious, as we were talking about how we didn't have the summit even during the trump years. this trend of friend shoring that you said yellen is talking about, that's quite a loaded term we also have this rising nationalism in brazil. put this into bigger context for us how could that complicate efforts, if it would are there dominos to connect here or not? >> well, brazil i find absolutely fascinating there is no doubt that there are some connections, even copycat connections to january 6th r january 6th. and online, on light nationalists, right wing groups

speak with each other and egg each other on. in brazil there's a local connection which is they have their own divisions. what was different is when the congress was attacked on january 6th in the united states, the members of congress were actually there and it was limited to the congress. in brazil, it was a number of different institutions, and it was on the weekend, the members who were not there what's interesting in brazil is there were so many tip-offs. there are so many signs that one could have taken preventative action against this and why didn't that happen i think what you'll see is this playing out. very briefly, i think what it underscores is when you have economic difficulties, economic dislocation, you'll have populism from the left and populism from the right. right now in latin america you're getting a lot of both so i don't think this is going to be restricted just to brazil. >> i think it's curious and not by accident that jair bolsonaro

was not in brazil, but rather was in miami or florida somewhere when this happened i hear the same with respect to the person who is in charge of the you dissort of ministry in the area where brasilia is located, that person in charge of security was absent as well, as though to say, hey, i had nothing to do with this, i wasn't even there. >> as you know, in my previous existence, i was a "wall street journal" editor. i would have my reporters out reporting all of what you just said much more deeply. i think there's a tiktok around this, a reconstruction of what happened, where i think we need to learn a lot more. i think one of the questions is going to be what are these individuals doing in the united states what connections do they have to what americans and what connections are there on line with all of these groups i think that's really a rich area of reporting. >> tick tock had a totally

different meaning than it did today. >> yes, thank you so much. >> not that kind of tick tock. we're talking about a different kind fred kemp, thanks. after the break, we'll come back a new space race is under way. it's not only which company can get there faster or go farther, but which can do it cleaner we'll explain in today's clean start. s right for me. ♪ ♪ i've got a plan to which i'm sticking. ♪ ♪ my doc wrote me the script. ♪ ♪ box came by mail. ♪ ♪ showed up on friday. ♪ ♪ i screened with cologuard and did it my way! ♪ cologuard is a one-of-a kind way to screen for colon cancer that's effective and non-invasive. it's for people 45 plus at average risk, not high risk. false positive and negative results may occur. ask your provider for cologuard. ♪ (group) i did it my way! ♪

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welcome back to "power lunch. let's get to kate rooney on the popping shares of coinbase. >> coinbase is up about 17% today. there's a couple dynamics. jeffries lit a fuse, but there's also likely a short squeeze playing out. coinbase had been among the heavily shorted names in recent weeks along with the major crypto stocks that are out there rallying s3 partners had numbers on this. said 28% of the float or the available shares were sold short. that was as of friday. traders were borrowing shares to bet against the company. the average s&p company has about 5% of shares, sold short

for context there. coinbase was becoming one of those crowded trades and crowded shore position which sets up a potential for a short squeeze, meaning traders need to rush, cover that trade and buy back shares so that often lifts the stock and is really what we're seeing play out today kelly, i mentioned that analysts know they may have lit the fuse here jeffries wrote this morning coinbase could benefit from the fall of ftx, saying thanks to the premium brand, they talked about the onshore regulated entity here. the scale and health of its balance sheet, about $5 billion in cash, should be able to weather this industrywide storm here, as they put it the great insult, the immediate impact is negative with trading volumes down facing pressure there's a steep hill to climb. if you look at the 12-month chart, coinbase down about 80%. >> it's a good bellwether. >> look at the rest of the tech stocks are doing

it's a good emblem i think kate, thank you for drawing our attention to it. competition in the space race heating up, whether it's to the moon or mars or beyond but with evermore focus on clean fuels, the clean space race is just beginning diana olick explains in our continuing series on climate startups. >> whether spacex's starship or the sls rocket for the artemis moon program, the rocket business is getting crowded. once seattle area startups is hoping to stand out as the cleaner alternative. stoke space is in a race to produce clean fueled, rapidly reusable rockets that can deliver satellites into earth's orbit while protecting the earth itself its founder and ceo is a veteran of jeff bezos' blue origin program. >> we have to be thinking ahead about how to do that sustainably

and scalebly. >> reporter: the stock rocket uses sustainable fuels including liquid hydrogen. it's designed to go up and return to earth with both the booster or upper or second stage fully and immediately reusable. >> you think about jumping on an airplane you can pretty much go anywhere you want to go at any time for relatively low cost. that's what we want to get to for space launch having a reasonable second stage allows you to do that. >> reporter: using unique heat shields, the stoke rocket comes down, targets a landing location, and then the engine turns back on and it hovers into a soft landing, ready to go again, which is particularly attractive to one of its largest investors, bill gates' breakthrough energy. >> as we think about all the manner of things you can do from space for the benefit of earth, the benefit of climate, you have to start from launch and you have to start from ultra low cost, sustainable, reusable launch. >> reporter: in addition to breakthrough, investors include smart capital, toyota ventures,

point 72 ventures, mack ventures and nfx. total funding to date, $100 million. stoke is a long way from taking satellites into space. it's not just the technology and funding hurdles ahead, it's come a long way in a short time in its quest to green the space >> the money still flowing from that vc world for some of the major projects. coming up, lululemon sinking 9% after weak guidance we'll trade it in today's other big movers in free stock lunch from all over the globe right at your fingertips. it's where businesses meet great remote talent and remote talent meets great opportunity. ♪♪ ♪ this is how we work now ♪

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all right. welcome back to "power lunch," the dow turning negative on the day, just by a little. time for free stock lunch. uber surging after being named a top risk on pick for 2023 by bank of america. lululemon, sinking after lowering gross margin guidance for the first quarter and visa higher, upgraded to overlook at key bank here to help us trade all three, bill stone bill, welcome. let's start with uber. it's not just a ride hailing

company anymore. hasn't been for a long time. it's a delivery service as well. do you like it, loathe it? what >> i guess it's interesting, bank of america calling it a risk on pick it's probably a good way to put it it's interesting in the sense that obviously -- maybe not obviously but the largest ride company outside of china, as you mentioned, a large delivery business as well the ride service has come back a lot -- >> it doesn't make any money. >> exactly exactly. that's why you have to put it into the risk on trade interest rates continue to go up and the market continues to just like money losing companies, even if they might have a good learning growth opportunity it's going to have tough letting. that's why i'd probably leave it for right now and keep an eye on it it is interesting because of, you know, them being the largest and to have user data and all sorts of things that in the long

run make it interesting. >> putting this in the basket with coin base as stocks that are loving this rate change that's happening bill, you teased that you are wearing an item today from one of our stock picks since you can't wear uber on visa, i'm guessing it's lululemon. >> i'll solve the mystery. one is the pants i got addicted to wearing their pants. this is a nonpaid endorsement. because they're super comfortable, stretchy, all that. the brand is synonymous with good quality and, you know, it's built up some good reputation on that vibe. i'd say the hard part is i'm not yet ready to buy the stock it remains, despite getting hit hard today as you mentioned, very expensive about 30 times earnings.

clearly have opportunities to continue to grow, particularly internationally despite the fact i'm wearing it they have room in men's fashion as well. it's tough because i think a lot of money managers ran into the stock thinking it was a kind of no-lose and they've lower margin expectations now two times in a row and that kind of gets a little worrisome at that kind of valuation level. >> i'm tempted to ask you to stand up and model the pants, but no that might be too much information. probably the yoga tights le's move to visa, shall we? >> sure. let's end on a top know. i think, you know, it's a great company in the long term because you've got just electronic payment trends in their benefit, ecommerce all feeding to them in the long run also it is really difficult to see a competitor taking them out until the sense they have market

share, they only take a little bit on each transaction so it's hard for somebody to spend enough money to build a business that is anywhere near the scale to be able to come near them, and again, they have this long-term growth i'd say the last thing in terms of short term boost to growth is they have a good exposure to bl glo global payments and now with people traveling internationally, there's good news there. >> i wear the lulu's too, bill dclurose. >> all the cool people. coming up another key story catching our eye today can you guess it back after this. all it takes is eight minutes to get started. then work with professionals to assist your business with its forms and submit the application. go to getrefunds.com to learn more.

welcome back the good times are ending in 2023 for airline travelers lessee joseph is writing our story for cnbc.com several airlines are raising the bar for the biggest frequent flyer perks. you have to spend more to get more upgrades. when times were bad they tried to lure people back in but asas delta's ceo said if everyone is special no one feels special. >> i just noticed this, it seems like everybody is better than me it's priority one and then these guys and then left-handed oboe players and anybody carrying a pick low it's a lot of people who are now get to early boarding. >> it's inflation.

this is what the debasement of your currency looks like >> great inflation i didn't deserve that. >> exactly an interesting question here the numbers are in and the top 100 rated television broadcasts of 2022, how many, kelly, of the top 100 were nfl games >> you know i have some inside -- not sources shall we say but it's a topic of conversation in the family quite often. so i'm going to guess of the top 1 100, how many were nfl games 25. >> higher. >> 50? >> higher. >> 75. >> higher. >> 90? >> 82. college football was second with five and of course the big college football playoff is tonight. the final between tcu and georgia. political events had four, state of the union speech was the only nonnfl game in the top 20. >> that tells us the nfl can still unite people across a

fragmented media landscape and remember a couple years ago people were saying people weren't watching the nfl games. >> the kneeling. >> the kneeling, absolutely. >> are you watching the game tonight. >> i will be and i have a wager. thanks for watching "power lunch." >> "closing bell" starts right now. the fed is willing to overshoot, those words from the atlanta fed president, cutting into today's rally, this is the make or break hour for your money. welcome to closing bell i'm sarah eisen. we're now negative on the dow about 74 points or so. s&p 500 up about .2. technology leading today, nvidia, salesforce that's what's carrying the market higher today. the nasdaq up a full percentage point.