>> nvidia. >> okay. kevin? >> cme group >> okay, that's the new buy. and josh brown >> the trade desk. look at the momentum in this name, undeniable >> we had a bit call on that yesterday. guys, thank you. thanks, everybody. see you on "closing bell." "the exchange" is now. ♪ ♪ thank you very much, scott welcome to "the exchange." i'm kelly evans. ahead, one prominent openai investor says the company is too important to forego the scrutiny of going public. but one of our guests says as long as sam altman with raise money in private markets, that's not going to happen. the september jobs report is on deck for tomorrow morning middle east tensions are at a boiling point, and then there's the election but our market guest is buying

on the pullbacks and sees opportunities in stocks and bonds. it's also day three of the port strikes. as supply chain disruptions become more likely, there are some names that could benefit from it. you're looking at one of them that's had a tough year, down 38%. but let's start with the other charts, the dow, the s&p, the nasdaq, as you can see here, all the major averages are lower in what's been another choppy session here the dow down by three quarters of 1%, the russells are down 0.8. so far that's been a difficult trade. big tech, nasdaq also down half aer is sent, same for the s&p. so we're just a little off those levels nvidia is the big standout in big tech the shares were up more than 3% earlier after the ceo told c nbc yesterday that demand for the chips are insane, and it is in full production. with today's gains, it's pushing

nvidia's market cap back above $3 trillion. closing the gap with microsoft, which is number two, just $3.08 trillion, and apple is still firmly in the number one spot. in another ai related name, shares of vistra is up 6% today, another all-time high this morning. this is the best performer in the s&p, both today and this year, up 240%. so it's more than tripled compared with nvidia's 148% gain and alphabet's ceo is considering nuclear as a power source for the company's data centers. vistra, one of the names powering the ai trade. that's where we begin today, with ai. you saw the news yesterday here. openai's valuation surging to $157 billion after the company closes its funding round the cfo was on our air today asked about potential ipo plans. she said it's too early to talk about that here are some of her reasons why. >> it's a really different, umm,

technology cycle than if you think about the last cycle, which was much more bits and bytes, a lot cheaper this is much more like the telethon being brought, electricity going up, the railways i think you're in much more of that capital intensive cycle that means for us, we're going to have been smart how we raise money. >> raising that money is what my next guest says will keep openai private, because as long as sam altman can do it in private markets, don't expect an ipo let's bring in duncan davidson duncan, welcome. >> good to see you again, kelly. what is do you make of all the developments on openai, is it overhyped or justifiably getting the funds that it's getting to do what it's zmog >> if you look at discounted cash flow or the future value, this better have eventually a trillion dollars of revenue.

the point i'm making about them not going public is sam's on a mission. he's on a mission to create the first senseient ai, with super intelligence and softbank made a comment after putting a lot of money in this round that it would happen by 2027. that suggests to me that's what sam believes and what he's telling people he's not going to go public if he doesn't have to, because it will distract him from the mission. he wants to stay on that mission. >> just to be clear, you think $157 billion valuation implies the company should have a trillion dollars of revenue in the near future? >> well, i wouldn't say the near future, but you better get to numbers like that to justify this and you might be able to justify numbers like that if he actually does create a super intelligence skynet, if you like, depending on your point of view about ai >> okay, that said, the fundamental problem with openai right now is the business model.

they made $4 billion, a little less so, lost $5 billion this year why should we expect those economics to change as they scale? the chips they're using are expensive, and they're ultimately going to have to pay licensing agreements to get up-to-date content >> you trend out the loss, the amount of money they spend per little search or use on chatgbt, you're right they have to raise so much money, it's hard to imagine they could. but you have to believe they're going to get efficiencies as they go forward with this mission. they'll get things cheaper per search so to speak, or per interaction. they have come up with some models which allow them to do that so i believe they'll find a way to lower the big expense, but not quite yet. first, they have to build out these data centers this is like building out railroads. a giga watt data center is now the core thing of ai you have to build a lot of them. and the limiting factor turns out to be energy i think you've talked about this

on cnbc. >> so in other words, some people have joked that if you want to be in openai but you can't access it just by nvidia, are you amongst those who see nvidia and these massive dater centers as an ongoing beneficiary of this trend, or are people going to find cheaper substitutes, openai included, to make the business model a little more attractive? >> i still think nvidia's in the driver's seat, but you have an ipo coming up today with a smaller company that's got a different way to do these chips. if you want to talk about it, i would be happy to. there will be innovation competing with nvidia in this marketplace, and we should see the cost of building out these data centers decrease as newer models come through. >> are you in that ipo were you a part of openai's funding lounldz if -- funding round? >> no, but i wish i were it's building a complete wafer instead of a small chip. normally they do a wafer and cut

chips out of it. they kept it all in one chip that version is ten times faster to operate, and much quicker to scale up than the other way of doing it so it's an incredible innovation i hope it works. >> i wonder if it would be an acquisition target for nvidia, or if that technology could be copied or to some extent imitated if it is that successful >> it may be it's very hard to do, but other people can try to do it and chase them the speed of which you can get a data center up is one of the competitive advantages here. elon musk talked about he got his 100,000 chip system running in four months or some number like that. kind of interesting. i think this -- cerebras has a relationship with some people in the middle east. the saudis are trying to become power houses in ai, and they're going to do it through this relationship, among others so you're going to see

competition between nations, as well as companies, trying to get on this ai band wagon. >> which i have to imagine is bullish. just quickly, duncan, before i let you go, cerebras is an exciting upcoming ipo. is this the beginning of what could be a series of investments now that you would expect and would want to invest in? >> perhaps they're coming out as a small ipo, $100 billion is the initial cost, they might end up higher i expect it to do really well. but i really love the fact that you're not waiting for a $100 type of value to go public, or $157 as chatgbt or openai did. back to the small ipo, i think in the ai category, we may see a lot of new and smaller ipos rushing into the market. that would be a very positive trend for the public investor, because you get in at a much lower value and ride it up to the $157 billion value if it

gets there >> great point, that it could both create more successful, smaller ipos and bring them to market earlier so that the public can tap into them duncan, we'll leave it there thank you for your time today. >> thank you take care. google is meantime rolling out a new ad interface on its mobile ai searches it's part of a push to show investors you can still monetize gen ai let's bring in deidre bosa for more details this is a big move, deidre i'm curious how the user experience is going to be. >> let me just summit up by say thing is the google ai playbook. you leverage its dominance in search to roll out more ai features to the broader public, and they get to keep the golden goose, which is advertising. so the announcements today, google is rolling out more multimodal capabilities and search you can now shoot video and ask questions in realtime and get results. ads will show up in ai

overviews, looking like this so instead of ten blue links in traditional search, there is a sponsored section that relates to your query. and that occurs below the chat bot answers. the way they're prioritizing that chat bot answer and giving you the sponsored content. so this is a way for google to keep its money machine printing as search evolves. this race moves very quickly, and competitors are trying to figure out how ads work in a gen ai world sometimes, though, kelly, the most viral ai applications are unexpected we kind of stumbled on google's notebook lm project. it's a personalized ai research assistant, powered by gemini 1.5 pro. you upload a source document, youtube videos, websites, slides, oar in the example we'll show you an analyst report

like the jpmorgan iphone survey we've been talking about on air today. hit the create button, and here's the output. take a listen. >> all right so we're diving deep into iphone territory today. but not just any iphone chitchat, but why people are showing out for the new apple phones luckily, we have some clues to work with. we have this juicy jpmorgan survey, over 500 people gave their insights on smartphones and buying decisions >> that's a pretty good sample size >> yeah. gives a good snapshot of what's going on >> that sounds like something you would hear on cnbc, but those were two ai general ted podcast posts. students are use thing tool to make their textbooks into podcasts lawyers can upload legal briefs. scientists can upload research papers and get these succinct, pretty good summaries.

judging by the reaction among us, among the twitter verse or x verse, this could be the next killer app in generative ai. you need multimodal, but you also need a killer use case. and this one is pretty amazing i don't know what you thought. >> i -- i would say i find it very useful to translate anything into audio, because that's the only way i can get information these days so if i could say take wsj.com and give me a podcast of that, i would love that. do i think it's going to be as insightful as you and my friend steve here chatting about anything of course not! >> no, we're not being replaced yet, at least that's the hope. but i was a little, you know, taken aback listening to this. it just sounds so natural. so podcasts may be the first use case, but likely so with chatgbt. this was a chat bot. some people said what is it going to lead to, how is this going to revolutionize the

world. i think this is the next front in generative ai technology as the audio piece of it. we know that openai, many of the players are going after this, and once consumers see what they can do with it, it can translate into all different sorts of applications, not just chat bots but it can help tutor, help research scientists, help in medicine and law >> like, that use case of audio i think is a great one, and just keep it there. let's not try to pretend they're intelligent, truly but deidre, thanks deidre bosa today. the ceo of ai startup perplexity will be on "fast money" tonight at 5:00 eastern and as deidre mentioned, that new survey indicates consumers may not be as excited about the iphones with ai as the street had hoped. steve is here to break it all down >> see if i can do it better than the ai did.

it's kind of the way we talk, interrupting each other. but let's just go over what this sursaid, because it shows that apple intelligence may not be as exciting and driving iphone sales as bulls thought jpmorgan's survey came out this weekend and it shows that artificial intelligence is the last thing customers who are upgrading to the iphone 16 care about. we always talk about device speed, 5g connectivity, the design of the phone or the camera the survey comes as the street has wibeen trying to figure out what i-16 phone demands look like analysts look for ship times as the gauge for demand that's all they have to go on right now, and the iphone 16 pro models appear to be selling worse than they were last year and the year before that. the stock has been sea sawing based on all those reports that, for example, it rose on monday after 16 pro demand signals

appear to have improved from a couple weeks before. then it fell 24 hours later on a report that apple cut 3 million orders from an iphone supplier we won't get clarity for a few weeks, but pay attention to guidance for december. for now, the survey shows ai may not be the spark apple needs to get the iphone business growing again. >> once people get these features, i can see -- >> that's the idea >> just the functionality for right now, when they can get to the point that they can help take information from one app and kind of use it -- >> that's coming next year >> exactly so this is a -- that's why i'm with -- i don't know how you get a super cycle out of this phone. >> that's why it's gone from, okay, we're ready for a super cycle to maybe this is an elongated cycle, stretching into the iphone 17 next year and this

isn't just going to be a one and done thing no, let's see what the 17 or the 18 can go. so it's going to take several more months before we see if this thesis plays out, that ai can drive demand, or is it the same story we've been saying, the camera, the design, the screen is better better battery life, things like that >> afterle speak is like fed speak -- apple speak is like fed speak. for now, steve, thanks still ahead and speaking of ai, booking holdings is near an all-time high and now priceline is unveiling an ai travel assistant powered by, yes, openai we'll show you how it works and hear from priceline's ceo about what's next. first, stocks are edging lower ahead of tomorrow's jobs report and growing uncertainty in the middle east. one strategist says he's buying

any pullbacks and prefers large. "the exchange" is back after this >> this is "the exchange" on cnbc business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going.

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headlines here also, because the headline showed the fastest services growth in this country since february of last year, and a big jump from the prior month. meanwhile, good news for jobless claims still around 225,000, although that level will soon be affected by hurricane helene and the strikes at the ports at boeing, stocks are lower today. since october, chopiness continues. my next guest is buying pullbacks. joining us now is paul christopher. what do you make of the services data, paul >> the economy's been wiv bifure for some time. if you wanted to look for a recession case, that's end anyone who depends on bank lending and suffered higher rates, they're really suffering. but the services sectors have been really well we think that will be the engine that propels this economy to a soft landing and then to a recovery to strength >> the chatter i'm hearing is

it's too strong. not that people are doubtful that it's true, but that if it is true, do we have to start worrying about inflation again, and forget soft landing, do we have to worry that the fed perhaps doesn't cut at all like what we are expecting right now? >> well, there is a disconnect between the market expecting 2.5% of rate cuts and others on the street as the economy slows, and it is slowing, service also go with that that should help moderate inflation next year. what happens into the balance of '25, yes, you're right we think inflation picks up in the second half of next year, amid that cycle improving. that's why our rate cut forecast is only for eight instead of ten that the market is calling for that will create a little volatility for next year, but doesn't prevent us from starting to position for that recovery we think will extend even beyond '25. >> what's interesting to me, as someone who thinks inflation

could prove sticky, you still prefer large caps over small ones why do you think that kind of macro is not one that would necessarily faifer the russell 2,000? >> sticky is sort of a sticky word you think about 2.5% inflation, that's plenty of enough for the fed to continue cutting rates. if inflation stuck around 3 or 3.5, we would be more concerned about small caps but we're positioning right now, we're underweight small caps relative to large, but we're at strategic levels we want investors to be at their long-term goals for small caps getting ready for a recovery that will develop more strongly than inflation will. that's typically a good environment for small caps so you want to be at your strategic, long-term goals >> so you're in communication

services, energy, financials that's a broad way to look at things, but where would you say that you see the most opportunity for alpha relative to the consensus either in specific stocks or sectors? >> yeah, again, because our view on inflation is maybe a little more sanguine than others going into the year, we would position for the economy to recover early in 2025, expect that to be the main story that explains the predominance of cyclical sectors, or sectors that should do well as the economy recovers, so industrials, materials, energy, and financials, all should do well as the economy recovers >> and finally, on mag seven, and technology in general here, what do you do >> technology has looked expensive for a while. we need to see much more of a pullback we might get that considering all the uncertainties swirling in the middle east you mentioned the strikes, the

weather, the hurricane helene, and the damage that it did this the southeast part of the country. those are all going to register some kind of hits either to higher oil prices or to the economy directly then you have the uncertainties around the election. there's always uncertainty around election time so a 5% to 7% pullback would not be unusual that might provide a good opportunity to buy those mag seven, the information technology sector at a more attractive price >> sounds good paul, thank you for your time. coming up, crude oil is tracking for its best way in a year and best week in 15 months as fighting in the middle east threatens to disrupt oil supplies you can see some of the damage from a new wave of israeli air strikes on beirut. we'll get a veli report from the rememberlebanese capital after e break. others can deflate with a single policy change.

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welcome back crude oil is jumping by the most this week in 18 months, as tensions in the middle east continue to rise here's joe biden earlier addressing israel's options for retaliation while leaving the white house to board marine one.

>> will you support israel striking iran's oil facilities, sir? >> we're in discussion [ inaudible >> he stopped himself there from saying anything further, but that headline is certainly making the rounds. nbc's matt bradley is in beirut with the latest on the fighting there. matt, what can you tell us >> reporter: yeah, kelly, so what we're hearing now, of course, is this continuing israeli assault on hezbollah we even just a couple of moments ago heard one what sounded like a very loud thump right behind me it's too dark to see, but this is the neighborhood south of beirut, a shiite muslim majority area it is considered a strong hold of hezbollah, and it is exactly where we saw the explosion that killed hasan nassurlah on friday we're also hearing about the fighting in the south where israel is days into a ground

incursion into southern lebanon where yesterday eight israeli soldiers were killed by hezbollah. today, and just in the last hour, we got yet another senior israeli soldier has been killed. so this ground incursion we're now seeing, this is coming at quite a cost for the israelis, as we're already seeing an exodus of internally displaced people from the south of lebanon flowing up here to the north in beirut and points northward of here, thought to be a million people so this situation is one that is going alongside a broader middle east conflict, that we're all waiting to see what happens next what will israel do in response to iran's firing of 180 ballistic missiles at israel just in the past couple of days? we heard, as you mentioned from joe biden, the u.s. government putting substantial pressure on the israelis not to escalate tensions more than they already are, or violence but it's all in the israeli

court. the ball is all in the israeli court. we don't know what they're going to do, but we hope and everybody in this region hopes that this doesn't escalate to a full-on region-wide war like we have seen in the gaza strip and what we have seen here in southern lebanon. it's a burden carried mostly by civilians in the region. >> matt, as far as you know, what is israel striking in beirut are they aiming for hezbollah specifically to continue to root them out and how are lebanese officials generally reacting to this do they view this as helping to get rid of a plague in their country, or do they view this as an attack on their country >> reporter: great questions, kelly. what we heard so far, the first thing you mentioned about what they're targeting. it is almost entirely hezbollah senior officials here in beirut. they're attacking hezbollah missile silos here and elsewhere. here in beirut, they are

decapitating the leadership, and they have done so to great effect the israelis said that in that bunker where he was killed were 20 other senior leaders of hezbollah. we have also seen in the past throughout the week, a senior hamas official killed in an air strike here in beirut. we have seen three senior members of a group called the people's front for the liberation of palestine, which was a major player in fighting against the israelis back in the '60s and '70s but has not been so active or so famous as hezbollah or hamas recently. this just goes to show the israelis are expanding the target list, that they're it willing -- they are in vengeance mode now, and overnight, we saw them attack deep into central beirut, the second time they have done that this week not just in the southern neighborhood behind me where this is this shiite muslim presence this time overnight, it was a hospital that was affiliated to

hezbollah. nine people were killed. this hospital not ostensibly a military target, but a medical facility affiliated with hezbollah. so it seems as though the israelis are expanding what they see as enemy targets, and what they think they're justified in striking >> very interesting. matt, thank you for bringing that to us nbc's matt bradley in beirut to pippa now with a cnbc news update the deadly 2023 maui wildfire sparked by downed firelines that ignited vegetation, according to findings from the atf. investigators determined the fire was caused by a single blaze that started in the morning and reignited later in the day. the owner of the three-mile island nuclear plant is seeking a $1.6 billion loan guarantee to restart the pennsylvania facility to selleck tristy to

microsoft to power data centers. the request, first submitted in may, has reached the stage where specific terms of the deal would be negotiated. the latest media company to secure live sports rights on pickleball also wants to sell you on playing the for the qvr secured its first live sports deal. it's also creating a shopping collection featuring equipment, apparel, and accessories kelly? >> the shopping part i understand putting pickleball on the shopping channel, i don't. but we'll see. pippa, thanks. coming up, priceline is unveiling a new voice feature on its new ai assisted penny. and we'll check on the state of trelith av wpriceline's ceo. don't go anywhere.

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welcome back to "the exchange." nvidia announced yesterday they'll expand their partnership with accenture as they look to bring more generative ai

abilities to corporate america, telling c thbs the move comes at an explosive time for ai in the workplace. >> what we're looking at now is the beginning of the next wave of ai. the biggest wave of ai this is really about companies around the world using ai to be more productive as their digital employees and ai agents and co-pilots, however people describe them, as well as using generative ai to revolutionize the way they build their products and the products they build. >> well, just this week, we saw a big name in the travel space integrate gen ai, priceline, which will help users plan and book trips it will make priceline one of the first companies to use the tech joining me now is the ceo. great to have you here, welcome.

>> great to be here, especially to talk about generative ai. >> how did you go with generative a snii? >> we partner with several companies, but we're leaning heavily on openai, and their technology is impressive over the coming weeks, we'll see more and more upgrades that create an environment where you can speak directly to our chat bot penny, like you're speaking to your best friend. >> was it a close contend between openai and some of the others out there or where they the clear candidate? >> at the moment, they are the closest producing a voice product that can give us what we need within the responses and things that penny's able to give you as a consumer, penny does rely on some of these other services to do that. we're combining various technologies to give the best possible experience for our customers. >> how much does it cost you as a company? >> it's relatively inexpensive

to run a chat bot and a generative ai voice model. most of the cost comes in the engineering time with each new model that's been released by openai, for example, our costs continue to go down with each new model. offsetting that is usage we have had over a million conversations taking place within penny, and we have to balance the cost with the benefit that provides to our business >> are any humans directly involved with the operation of penny? >> not in the actual engagement and responses that she provides. however, there are a number of humans behind the scenes building out the technology to connect penny to many different services and to data, including engineers, product managers, et cetera, so she can give the best answers as fast as possible. is this publicly available yet are you able to give us a sense how quick the uptake might be or the translation from usage into booking something on the website? >> sure.

well, today, you can engage directly with penny to do a number of things service your product, cancel your reservation or book a hotel. voice just launched yesterday. this is the very first iteration. it's not yet using openai's latest realtime voice. we've been alpha testing that with them, and we will be one of the first brands to launch that in the next few weeks. you can engage with penny now, but it will get better once this new connection goes into play. what is is the use case? so i, the consumer, might be sitting on my couch, thinking about a vacation, previously typing with your chat brot, but now i can talk to it directly? >> you can say penny, i would love to go to toronto, can you recommend some hotels? she'll say, what are you looking for? and she will quickly come back with options for you then you can find out what restaurants are nearby, what

activities can i do, and she'll quickly recommend those to you and help you plan your trip. >> two areas in application of generative ai, which is increasing sales, which you hope penny and voice penny can do and number two, increasing organizational productivity. so we talked about the former, but on the latter front, any other way you're deploying ai broadly throughout the organization to make it leaner >> absolutely. we have applications across the company that we're using internally one is to help engineers become more productive in developing and deploying code this is showing that especially for engineers who are younger in their careers, rather than having a second developer review their corrode, generative ai does that for them we've found that it's great for learning new coding languages that developers haven't used before we've been able to bring people up to speed much faster.

so we can get it to market faster, and just have higher -- just better qualified candidates coming to the door >> would you go -- like the karma ceo is using it to replace salesforce >> i wouldn't say it's gone that for us yet we have been investing on the consumer side in terms of productivity we think one of the biggest use cases over the next year in travel will be for customer service. there's a lot of interactions that take place every day. tens of thousands where people are stranded and need support. this technology has proven already that it can reduce the amount of time that it takes for us to get you an answer and then to do a service for you, like cancel or rebook a reservation it's just faster than sitting -- chatting with an agent where there's a lot of time in between responses. penny can do that instain usely.

>> how would you describe engagement and sales with priceline at the moment? >> i would say that things are good we're in a more normalized state from where we were last year in 2023 with revenge travel but people are traveling if you look at the most recent numbers, they're about in line with last year so people are still traveling and engaging, and we expect travel to continue to grow at a pace faster than gdp worldwide, which is typical for travel. with thanksgiving and christmas holidays coming up soon, we're found to see again the bookings surge move through the holidays. now is the time to book travel, because hotels and flight also rise closer to information >> would you say based on what you see in travel trends, this economy is acting like an economy going into a slowdown or like an economy that actually, i don't want to say going into a speed up, but one that has significant kind of gdp

momentum >> yeah, i think from what we're seeing, i would call it steady state. i wouldn't say we're looking at something that's going into decline, because that's what we thought would happen earlier this year. and things have held together quite well going through the summer consumers are behaving how they typically would. so it feels like a normal travel environment at the moment. >> i thought we were going to get that slowdown, too never came thank you for your time today. coming up, shares of eb go are soaring today, with the charging company receiving a loan for just over a billion dollars. it's good for 54% pop to make it a $6 stock the firm bullish on its business model of operating its ev chargers we'll talk to the ceo at 2:00 p.m. eastern and have a check on the day's other big movers, next

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welcome back to "the exchange." markets are still in the red, a little bit less so at this hour. the russell has worsened while other averages have improved somewhat in the past hour or so. 3.83 on the u.s. ten-year. we have seen rates backing up as we get economic data coming in stronger than expected now, energy is leading the way today. of course, oil prices are higher because of middle east turmoil on the down side, real estate, materials and consumer discretionary shedding more than 1% chinese stocks are taking a breather today with the kweb having its worst day since august names like bthese are giving up recent gains

and levi strauss is under pressure as it considers selling its dockers business these shares are having their worst say dsince june coming up, bank of america says everything from bananas to whisky to pasta sauce could be held up by the ongoing port strikes. but they do see a boom to other companies. here's a look at the mystery chart. shares are down 28% this year after a disappointing guidance on monday. we'll reveal the name next and cnbc is celebrating hispanic heritage here is ceasar lopez ♪ ♪ >> there's a proud afro-latino, i got to witness my parent's value they placed on hard work i use a lot of those characteristics at every stop along my journey to get to where

i'm at today hispanics continue to add value to any organization. even the smallest acknowledgement helps light the fire to continue to push boundaries as we continue to serve the communieth ce ouusits atar serve the communities that care about us

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welcome back the east and gulf coast port strike continues with no plans in strike for the longshoremen and the port owners to return to the bargaining table with shipments of consumer goods being diverted or forced to wait offshore, our northwest guest says some are positioned better than others and could see competition get stifled. one of those names is lamb weston lamb weston is having a tough year, but perhaps this offers them an opportunity to regain some market share. >> thanks, kelly, for having me. i think it's on the margin for lamb weston. but one of the things we do recognize is particularly on the east coast, we source a lot of

french flies from europe to help source those that get backed up, that could be an issue. >> you also think mccormick should be somewhat insulated >> yeah, so the company reported earlier this week and actually talked about some of this. they've been planning and using working capital to build up material a lot of the spices they source from around the globe, they were able to buy up ahead of time in the plans this were an elongated strike. >> included in some of yours made me rethink of my costco order this morning in new jersey they were already out of paper towels. i'm glad i bought my rayos

sauce. >> campbell's bought rayos earlier this year. it's made in italy and produced in italy they need to source the tomatoes, the olive oils from italy to all then it is tate the brand. while they haven't built up a ton of inventory ahead of time, that's where you could see an issue. nothing you would expect near term. >> bananas are another one how do people figure out what's going through the ports? you have this granular -- in dole's case, that would be 46% of their sales growth if there's a hiccup there. >> take a company -- you mentioned before the break like smucker's who sources coffee through new orleans. that's where their big plant is for folgers. we have that level of detail going through the companies. the other oning we count out having issues to the extent it

keeps going on, some of the chicken companies who export a decent amount of chicken, you don't want a perishable product that won't go out. >> you can imagine the industry screaming. they're trying to get things like chicken to other markets. keurig doctor pepper is another. what's the length of the strike at which point you think people might seriously need to think about stockpiling. >> so our transportation team here is expected that this gets resolved in the coming days or weeks. i want to rely on their expertise in that matter there's some redundancy for companies like dr pepper, but they have assets here

domestically to help them. >> and briefly, brown foreman and e.l.f. cause mosmetics, why that come up on your list? >> anything going to asia or o'markets is probably okay, but the european piece of the business could see a bit of a challenge. in terms of e.l.f., they source a lot of their product from china. some of it comes in through the west coast ports, so that should be okay. but, again, if they're sourcing any materials or product through the east coast, it's really going to make a big difference. >> are paper towels actually going to be at risk? do we make paper towels here on the east coast? west coast >> we do we make them there.

>> thank you. that does it for us today. we'll see you back on the other side of this break ♪♪ [inner monologue] in this gig... you get comfortable being uncomfortable. ♪♪ the enemy is always adapting... deepfake: hey handsome. ♪♪ [inner monologue] ...always iterating. ♪♪

good afternoon and welcome to "power lunch," everybody. alongside brian sullivan, i'm kelly evans. welcome back the port does remain in the midst of a storm the strike is going on a third