so i enrolled in umgc. i would not be the person that i am today had it not been for the partnership with umgc. when we started feeding bogie the farmer's dog, he lost so much weight. pre-portioned packs makes it really easy to keep him lean and healthy. in the morning, he flies up the stairs and hops up on my bed. in the past, he would not have been able to do any of those things. this is me welcome to "power lunch. alongside brian sullivan i'm kelly evans. welcome. workers are a force to be reckoned with. the port strikers reaching a temporary verdict but the strike highlighting the heightened tensions within america's workforce. they got what they were looking for in round one but this ain't over yet they kicked it down the road about three months' time room to

negotiate for more and if the labor market holds the way it is doing today they will have more leverage. >> ain't over. spirit airlines, though, new reports, spirit airlines may be filing for bankruptcy. the company having a hard landing right now, losing nearly a third of its value could this have been prevented if the feds hat nod scuttled the jetblue merger and will this end up for higher fares for you. >> another decliner in the market because spirit is down 27%, rivian down big as well the ev maker slashing production forecasts, missing q3 delivery expectations the shares are down -- they were down 8%, down about $4.5. >> we've been talking about this, a show called last call and evs, and i talked a lot of grief because i took a position, you hate evs i owned one and bought one i know them. that's why you're critical we will see where this goes. lightly used rivians for sales

on cars.com. >> at a dramatic discount. >> some with a five handle and sold for 95 new two years ago. we will see. >> lot to do i can't wait for this friday "power lunch" out in phoenix let's start at the top with the big macro market news today. the overall markets look at that in the green all higher after a much stronger than expected jobs number wages on the ride, unemployment ticking lower, restaurant, hotel, health care, social assistance, those were the top four most added job categories manufacturing unfortunately losing jobs again. but here's the question, if things are really this good with jobs, why are tensions within america's workforce still so high remember the tentative deal with the port that kelly talked about, well that deal is tentative and expires january 15th reigniting the strike boeing workers they're still on strike hospitality workers in a number of states picketing or getting

ready to and video game developers take two at odds with union actors here's an rbi, random but interesting, see what i did there, according to the economy policy institute, labor strike activity is up 280% year over year and just anecdotically, and i posted this to x earlier, i'm holder than you, certain age, many people have lost their jobs and they cannot find a new one right now, and i know it's maybe just a regional thing here -- >> hiring is soft. we know that the fed's beige book confirmed this in the last i thought was a pertinent question. >> this survey says hiring -- >> pardon. >> yeah. it does suggest that hiring is still taking place in some cases, but i wonder if there's a mismatch as we begin to talk about last hour how much of the job days are going to immigrant workers and workers that may not

be picked up in your, for instance, sample group size. >> 100%. >> a picture of what's going on -- >> if you look at the numbers, the head line great jobs number, leisure and hospitality was the biggest gainer and health care and social assistance. we need -- and then government need more teachers and nurses. doing god's work we love you. but for that sort of middle-aged office worker, things are really -- >> tougher. >> we don't need my opinion. we have two smart people to talk about just this. let's bring in linkedin senior economist cory and the group's president julie ballki a great discussion when i go on linkedin and post a lot there, check it out, a lot of my friends are popping up with that green banner that says open to work and i get it i got a 5 handle in my age and this is kind of the time when things get a little bit tougher. what job and hiring trends are

we seeing from linkedin. >> so on linkedin we are also seeing what you saw this week in the job openings and labor trend survey hiring is slowing. hiring has been slowing since may and we've seen in the jobs report that payroll number fall off since may. so it is the case that hiring is slowing. you know, what you're also seeing, though, in the job openings labor turnover survey is layoffs are low when people aren't leaving their jobs, even though hiring is slowing, that can add to payroll. so overall, in the economy, we are seeing a slow down, a continued slow down in hiring that's been going on for quite some time. >> we are. there you go so is it possible we could see a re-acceleration with rate cuts small businesses, medium businesses feel they have a little bit more breathing room to expand and hire. >> that is the hope. the fed did surprise us a little bit with a 50 basis point cut. a lot of folks including me were expecting a 25 basis point cut

there was a bit of upside surprise there however, typically and historically, fed interest rate cuts don't have a huge impact on the labor market in the first few months of when they're put in it does take time for those to filter and put a floor under the labor market one of the big concerns about this jobs report was that even though the fed had cut rates, it wasn't clear that there was a floor on the labor market. now we're wondering okay, maybe there's a bit of a floor, so labor market is walking a tight rope, but perhaps that tight rope is down a little bit bigger today. >> why do you think we're having i don't want to call it labor unrest, but probably labor flexing, right, maybe because things are good, you have certain political things in there as well and the number of strikes over the last couple years has been, i think, at least going back decades, unprecedented. >> yeah. employees both union and nonunion are seeing and feeling

the inequities in the market ceo pay rise to a mismatch of unbalance that has not been forever and the ceo pay continues to ride arise and corporate profits are up you have people doing the work and the union, the dock workers are a great example, saying where is ours? so when you have a labor market that is still relatively strong it gives people really at all levels a feeling of leverage at the base the job market is econ 101 that class you slept through all that applies to what we're seeing today what we hear about are the unions collectively, but i'm seeing it in individuals that i'm speaking with saying, yeah, i'm going to go in and ask for more i'm feeling confident in asking for more. >> you said i slept through econ 101. i have an acronym. i call that, i say that's o.b.a.

it's offensive, but accurate by the way, ke got cory laughing you can use that it's offensive -- >> no way cory slept through econ 101. >> cory did not. you guys at linkedin not only see a number of people looking for jobs but how long it's taking them to get interviews, to get hired, things like that do you have any kind of a forecast of where it is going, particularly in the office side? not leisure, not hospitality, not manufacturing, but office jobs, you know, 35 to 55-year-olds >> i will say first i did not sleep through econ 101 because i was teaching econ 101. >> there you go. you have to learn it before you teach it. >> wasn't able to sleep through that one at times, you know, it can be a challenging course so when we're thinking about where folks are struggling to find jobs, we can actually look on linkedin and see how much are

they applying. right. applying is a very sharp signal about how desperate you are and how hard you're having to work to find a job. when we look at the amount of applies per applicant there are industries that stand out that's going to be tech, information and media. we all know about the tech session. big adjustments happening in tech over the last few years finance and professional services and what do these all have in common they are the sectors of the economy that were hit first and potentially hit hardest by interest rate hikes. >> there are going to be industries, you think, julie, that are going to benefit -- i shouldn't say lower rates, put the bond market is raising rates and mfortgage rates have gone up that said, is there some kind of correlation between rates you see or other macro economic factors and how the job market is doing by the way, also can you get into, julie, maybe what i'm seeing anecdotically is

regional, maybe the new york-new jersey region. nashville, miami, those areas are red hot and can't find them? >> you will have the regional differences, but you also have profession and industry differences. so when people say to me, how is the job market i always say it depends. what do you do, what are you looking to do, what's your experience we see great inex whichties across the professions and industries when you look at government's occupational outlook, look at the next 20 years and say here are the 20 hottest professions, 17 out of 20, were either health care or technology related even if we're in a tech session that is something that will right itself we're going through sucha change in the job market right now that has eight to ten different factors that play into it, one of which is the generational differences cannot be ignored so it's all still kind of leveling out one thing we can make no mistake about it, the top down

leadership do as i say, is going out the door, because people aren't putting up with it anymore. they're feel more powerful and willing to ask and if they don't get what they want they're ready to, you know, exit. >> the roaring ''20s thank you. cory and julie the jobs report was top of mind for investors all week long now that it's behind us, what's next earnings season. for more on that we will hear quarterly results from pepsi, delta, tilray and a slew of bank earnings, jpmorgan, wells and blackrock. what to expect, dory wiley how important is earnings season right now? >> well, it's very important we're coming into an election in november who knows what we will have in an october surprise. 50 basis point rate cut which is a big number it's -- it should normally show some concern by the fed, even though they tried to downplay it where do the earnings take us? that's going to be important

going into next week starting with the big banks. >> we used to talk about alcoa kicking things off we no longer do. we talk about jpmorgan and carter worth was on here saying he doesn't think it's trading well and he's worried about, i'll say it not him, the kickoff to earnings season this time around >> yeah. i don't expect a bad number from them they -- jamie warned us in september i think it was september 10th, you know, lower numbers and i think so did the others, but i think they've adjusted to that i expect them to come in at $4 a share, higher revenue than a year ago jpmorgan, wells fargo, citi, bofa, not goldman sachs and morgan stanley, but all will have lower earnings than what they had a year agobut on similar revenues the real question is, how does credit look and what's happening to the bank margins? with a 50 basis point cut we're not going to have a big effect

on bank margins and the market has unreal igsic expectations on that we need to see good, clear credit, get them through this earnings season and see what happens trolts to the rest of the s&p 500. >> we love talking about jpmorgan and the big banks, goldman sachs. you say a name like a hunning tonight bank shares is kind of chugging along, doing their thing and that upper middle market is maybe a better type of company for investors to look at >> think about it for a minute if you have a rate cut, jpmorgan is diversified and they will have a smaller loan book as a percentage of assets than huntington or smaller community banks so the lag effect is going to be better for them. the question is, control of deposit pricing. jpmorgan has excellent control some banks like huntington, who has led the deposit growth in its peer group, going to have more pricing control over the deposits and some of the others.

i can buy huntington at the same forward p/e multiple as jpmorgan, i got better growth prospects, margin expansion prospects and get 190 basis points more yield. >> steve has been a friend to the program. maybe we will check in with him. i will do you one better, sam hascall for esquire, they fund commercial litigation. the more niche you get away from the big banks the more investors see potential here what about big tech and the possibility that now as we lap the second year of the bull market, the third year could get tougher, interest rates are backing up now and leadership might have to rotate >> well, historically if you look at two and three-year returns on the s&p, with what are we pushing 60% over two years, it actually tends to go into the third year but at a lower number i wouldn't be surprised, you know, after doing 20% so far this nine months we got a little bit more to go, maybe it stays a

little flat, forward p/es are higher than five and ten-year averages i wouldn't be surprised with the earnings growth. that's what we want to watch in the quarter. as long as the earnings growth is still there, holding 11, 12% margin on the s&p 500, there's no reason why we can't have another 10% growth in the s&p 500 next year. >> you -- this is a lay-up for brian while he's sitting here a couple names you might want to be looking to pick up in october are energy plays, energy transfer, exxon, just walk us through what you think we might expect in that in the next few weeks time >> so this is a trade, right israel gets attacked and for the first time they don't really -- we haven't been very helpful to them, okay, without getting super political. the administration pretty standoffish. it wouldn't surprise me for israel to strike back without our permission or talking to us, and now they're going to hit them hard.

they have 193 missiles hit them. no reason for them after what they've been doing to hezbollah to not only going after leadership and these oil refineries i think the administration is going to try to tell them delay until after the election before that happens, but that's what i'm looking for. when something like that happens, it's either going to be in october or after the election, i do think it's coming either in a big way where it affects about 1.5 million barrels a day or 300 to 500,000 on smaller refineries and that's a good pop for oil and good case for more energy independence and i'm looking for some dips before that happens, and i haven't seen it yet hopefully we will see some. >> all right if we get that we know where your attention will be for now thanks for your time >> you're welcome. >> all right still to come, a decision that could come to haunt regulators why a ruling by a judge to block

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dakota and cnbc contributor. is this a whiff here >> well, you know, the interesting thing the government and the judge didn't create the financial problems for spirit. spirit was already struggling. they were looking for a bailout. you have to question whether the government was right in saying basically we're going to challenge the merger, which could have stabilized spirit, could have stabilized the discount market, but the reality is that the justice department is going to be really aggressive on antitrust litigation and, you know, did they make a bad call i don't know if they did let's acknowledge that the problems that spirit has were really market driven and they were of their own making. >> you think if you had market driven problems wouldn't it be nice if a better positioned competitor comes in and buys you? do they fly in north dakota and used amongst north dakotaens >> they do not

we have allegiance, which actually does a robust business, especially in those seasonal flights to orlando, seasonal flights to arizona, and so we're grateful because they keep the prices down, and that's the whole idea about these -- what they call discount airlines, lower cost airlines. they really are significant in the marketplace as competitors and when you lose ones consumers have to be worried i wonder looking back if this was the right call to challenge the miderger. you can't sell tickets at lower the cost that's not a formula for success. >> the most interesting flight i ever took was to your home state. i was the smallest guy on the plane. had no idea how we got airborne, but we did and landed safe wly i have breaking news on biden coming up. i don't know if the senator can

stick around your comment, biden did something he's never done before should we go to that now she's going to sit tight president biden making his first ever appearance at the daily press briefing talking about the port strikes and economy we have senator heightcamp to respond. meghan. >> hey, broin. you're right he's never done this before. biden came out to that press briefing to start off with what seemed like a victory lap on the port strike saying the country had averted what could have been a crisis with the port strike, if they hadn't reached an agreement we could have had, quote, a real problem and saying he was determined there to avoid a crisis and thanking his white house team then he went on to speak on a few topics on the jobs report that exceeded his expectations but there is still more work to do to keep getting prices down, to keep

tackling inflation then he talked about the hurricane, hurricane hyundai, and said they will have to deal with costs of that hurricane and that they'll probably, he said, have to ask congress for more money to deal with all the problems that came with that then on foreign policy a lot of news here. he said the israelis have not concluded what they're going to do in response to iran's strike, have not figured out how they're going to respond to that but a full quote here, if i were in their shoes i would be thinking about other alternatives other than striking oil. seems to be encouraging them away from doing that sanctions on iran are under consideration including on oil, but that everything is under consideration so he wasn't making any commitments there, but that it is one tool that's, obviously, still in their policy toolbox. toss it back to you but those are the top headlines from president biden for the first time ever coming out to speak to the press briefing. >> respectfully, the top headline is that president biden spoke at the press briefing first time ever that alone was a

big deal they put him out there so he could walk back what he kind of said yesterday in front of the helicopter which led our show about maybe israel is going to strike oil that sent the oil markets into a panic and pushed him out there and said you have to walk those comments back. thank you very much. senator heightcamp who knows a thing or two about oil, perfect timing, glad to see the president come out, you know, first time ever in his term to do that, showing some respect to the media which is nice. oil prices right now, senator, they are down. popped yesterday the president trying to walk that back. their higher what do you make of his comments on anything you might have heard from meghan? you know, it's really interesting, like you nope, sully, we can talk about what's happening at the wellhead, how much oil is being produced, but we know that where the consumers are going to feel that is they're going to feel that at

the pump striking refineries and lowering the amount of supply into that chain, globally will have an effect at the wellhead there is a lot of -- there's a lot of concern, geopolitically, that this will escalate, the conflict, if, in fact, they hit the refineries it's going to have a dramatic effect on consumers maybe more so than shutting a couple wells or asking opec to ratchet it back you know from your work in my state there is a price point at which shale can't compete with opec nations and so when we look at it putting our supply in making sure we can refine our oil here in this country, when people talk about oil or energy security guess what? we can't just focus on what's happening at the wellhead. we have to focus on whether we're producing enough gasoline and product to be keep our economy going. >> well said there, well said

about the well ahead senator, great -- see what i did there, great state of north dakota, yeah, that plane, i think the wings were like -- as we took off. all the oil workers and me thank you. on deck, while our american stock markets keep rocking some other countries may be ready or already are rocking more wl owouhe, xt

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welcome back to "power lunch. again, we have a strong jobs number this morning, we have markets moving higher again. if you're on the radio, the nasdaq up 144 points 0.8% so there you go. happy friday jobs are up, stocks are up so even as our markets keep making records your next guest says there are great opportunities in places that you might not yet be looking so, let's kind of go around the world for some of these opportunities. joining us on our market navigator brian from equity armor investment brian, good to chat with you again. let's talk about china obviously, this giant fiscal, you know, punch in the gut if

you will, in a good way i suppose, sending those markets rocketing. were you a buyer are you still a buyer if you were >> i think when you look at it, obviously, you look at ways to invest from the united states and fxi is the chinese etf where you can kind of look at places when you look at that etf alone it's up 50%. it's 50% retracement from its highs hi highs in 2021 to the lows in 2022 here up on the year itself it's looking like it's breaking to the upside the stimulus going on in china is starting to reprop things up and valuations moving higher this is an area i would look at. might be resistance ahead. it had such a huge plunge and a big shift from the manufacturing sector and the belief around china to be a manufacturing nation to one that's a domestic driven economy and that change, i don't know if investors are ready to embrace that, so there's a little bit of caution behind some of this.

>> for those of you who can't see the graphic, we have a blue line going up and a grind orange line across the top, which looks like it's resistance at 35550. does it look like technically to you people are like i'm going to put new money into china because i miss this run? maybe this is the resistance >> well, i thought you were going to mention mets nation which got a big win yesterday. >> i can't do it because our floor director has mets hat on, mets shoes, mets underwear probably, who knows. he's got -- i had to say knicks not mets because he's riding high right now, brian. >> yeah. that orange line was a big area of resistance for the fxi and looks like it's actually today going to close above that area of resistance, which now is -- that becomes support the upside here for a stock like this is probably about $40 and so i think there is a little bit of an upside here. again, people have to be willing to accept that china is a nation, it's going to need to

change from a manufacturing nation to one that's domestic driven economy because really there's been so much geopolitical tension around what they do there, and how they operate, that it's going to be more difficult to collaborate with other nations around the world. other areas like india are actually becoming the manufacturing nation of the world, whether it's in technology or actually physical goods themselves. >> brian, thank you. by the way, because we got a lot of fans in the new york area, look at this we have the mets here, brand new hat. that's not new, i know that. i thought we were going to take a road trip to milwaukee >> sorry to disappoint you. >> now we're going to philly i guess. look at the shoes. got to be the shoes. i'm on the bandwagon i love it. >> to be fair he's been on the bandwagon 20 painful years thanks coming up, the wolf of wall street energy infrastructure and

bitcoin mining player tara wolfe is lower today, but the shares have nearly doubled this year and the street sees more upside ahead. we will talk to the ceo next about the stock move and more when "power lunch" returns

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welcome back to "power lunch. i'm bertha coombs and here's your cnbc news update at this hour the drug enforcement agency issued a warning today that illegal online pharmacies are selling counterfeit pills made with a powerful opioid fentanyl and methamphetamine. the agency says they come from mostly foreign-based websites that are actually working with drug traffickers blue origin set the launch window for an uncrewed verification flight on monday at 8:00 a.m. central, 9:00 eastern. the new capsule is called the rss carmenline named for the boundary of space 62 miles above earth.

blue origin says it features technology upgrades to improve the vehicle's performance and ability. patrick ewing making a comeback at madison square garden the new york knicks announced he will become an ambassador to both the basketball and business operations the team's all-time leading scorer will work with the head coach tom thibodeau and the knicks' front office knicks have not been to the nba finals since patrick ewing was there back in 1999 >> ouch. >> that was great when there wasn't a fight it was good basketball to be played in those days john starks hanging on alonzo mourning's ankle. >> i mentioned the knicks, we did a knicks' story. let's get a check on bitcoin under a little bit of pressure lately but up 2% today in spite of this, wall street very -- on the stock of the next

guest, the company called terawulf the average price target of wall street analysts $7, implying more than 50% upside shares are down about 4% today they mined bitcoin last month. they're a big part of the energy world having announced the sale of a 25% stake in nuclear powered bitcoin mining operation using the money to build out a new ai facility. personal fortune to build out the community of easton, maryland, more restaurants and more, the historic town where my family is from for long, long time ago so paul, great to have you on "power lunch." first, explain, i love this because you kind of are the intersection of bitcoin, mining, and energy explain in plain english for the audience what do you do? >> we're an energy infrastructure shop. thanks for having me by the way. exciting to be here when you're

talking about the new york teams. you left out the yanks we're an energy infrastructure shop, and we have always been looking for the highest value for our mega watts and energy infrastructure there was a more flexible load out there than a bitcoin mining facility and that is how we started. but now there's tremendous value and opportunity for our shareholders as we pivot so we reserved our next, if you will, 250 to 500 megawatts, to build out hpcai facilities. >> i would ask about hpcai but i don't know what it stands for. i'm guessing ai is artificial intelligence. >> right >> high power compute artificial intelligence you know, it's what all the hyper scalers are looking right now, they're trying to capture energy infrastructure and power. our focus is in the coal

location side of the business where we look for people that have enterprise customers and we could provide energy and facilities for them. >> here's why i love having you on, paul, because -- and put in -- i think you can put it in plain english, energy is your world before terawulf. you said 500 megawatts people don't understand what that means that is probably going to mean what about -- that's a couple hundred thousand homes worth of electricity, about three mile island coming back online, amazon making nuclear deals, can we do any of this stuff in a macro way without nuclear? >> the answer is, i don't think so nuclear is going to take a long time the near term solution are large gas-fired facilities and the acceleration to the extent possible with some of the renewables nuclear is going to take a real long time. you know, we're looking at ten

years away in terms of new generation for nuke in terms of restarting the facilities we have to see. it's a technology that we've lost for a little bit of time, and that we have to bring back to the united states. >> real quickly, paul, why are you selling this one sort of project at a time when -- is it in order to fund the bigger projects you see as more attractive >> yes but, you know, we were just a 25% interest in a joint venture and, in fact, we got a great return on the deal 3.4 times more importantly we were stelg time when our interests were most valuable before they go to nothing. we had three years left on a contract of two cent power and then no residual value left. we got a chance to get a great return on our investment, take something, sell at a real premium and return it to our

shareholders in the form of investment in our hpcai business, renewing our bitcoin fleets it's going to be 18 point the most efficient fleet out there, low cost of operations and we have increased liquidity for growth it's a great deal for our shop. >> paul, terrawolf founder and ceo, putting the energy demand into perspective, we appreciate it thank you. by the way, thank you for all you're doing down there for the good people of easton. >> thank you very much hope you visit some time. >> chestertown is where a good family friend -- >> next door to easton. >> about an hour away. >> on the eastern shore. great people rock hall. >> you can always catch our podcast if you want more geography lessons, listen to "power lunch" on any podcast platform and we will be right back after a break the dow is up.

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welcome back to. bond yields are moving higher on the back of today's job's data

t the two year is up 20 basis point. it is earth flattening what do you make of it >> yeah. well, i'll tell you two-year note close to 3.56 last friday, 10 closed at 3.75. the numbers are staggering listen, the flattening led by the short end is something to pay attention to jim, here you are, thank you for coming to chicago. you live in chicago, coming to the exchange what did you think of today's numbers we were talking about the big moves in yields. >> any way you cut it the numbers were good. job growth was good, wages were strong, there was no [ inaudible ] jobs created when you sum it up it was a good report. >> part time has been the mantra of much of the job creation of late there was definitely some full-time within this report. >> yeah. there definitely was you saw some full-time numbers and that was good as well. so when you sum it up, i

understand the bond market move because all of a sudden the 50 basis points cut we're looking for in november seems to have disappeared and now we're down to 25 basis points. >> yep bear flattening as we were talking about. the other thing we need to merit some discussion is, how does this affect the fed? okay many believe that it should be a one and done now or the market's view is 25 25 25 and 25 >> i thought the fed was already going to be in a difficult situation because we had the strikes, the port strike resolved, the boeing strike, flooding in north carolina and south carolina and georgia that's going to be a big problem and the economic data was going to be very muddy as we go forward. to err on the side of caution they were looking at a 25 basis points cut anyway. now you throw in this big number it all but pretty much cements it. >> still talking about this report hours worked was the lowest to find a lower number than the 40, 34.3, you have to go to march of 2020. that was last month.

this month 34.2. that's march of 2020 to find a smaller workweek that does take a little of the positive zing off all the other metrics, does it not >> there's a bit of an offset there. when hours worked go down you see more jobs. when hours worked go up they tend to higher less as well. if hours worked go down and you hired more people if that rebounds next month you might see a depress -- >> it might -- that's pretty impressive. >> in the world we live in when worried about the wage numbers it does matter. >> now next week's cpi and ppi i thought if we continue to bump along between 2.5 to 3% and we had a couple odd months that go higher the fed is between a rock and a hard place. >> they are. if we're down tos a residual seasonality in the cpi number and ppi residual seasonality means the seasonal is affected, very positive now at the end of the

year, so that could just skew the numbers higher and put the fed behind. >> another prediction, not week not only cpi and ppi, 3s, 10s and 30s. the long end auctions at a time when the 10-year is within spitting distance of 4%. it's going to the long and auctions where the 10 year is within spitting distance of 4% it's going to refocus on the debt and deficits. next week could be a big week for interest rates >> usually you would get some followthrough. >> thanks for joining me on the cbo. brian and kelly, back to you >> i could be a brad thank you very much, rick santelli makers of evian are down, lowering estimates for the third quarter blaming, quote, production disruption. part of your trade in our "three stock lunch. cnbc celebrating hispanic heritage month

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♪ welcome back we can't close things out here without "three stock lunch." we're going to highlight the other great stock stories today and get actionable portfolio advice from the director of research doug, it's great to have you along. let's start with rivian.

we mentioned at the start of the show shares are down 4.5%. they were down 8 earlier after they slashed production forecasts. evs have had a host of issues especially with tariffs. tesla discontinuing their lowest cost version what do you do with the shares >> we think you sell them. look, it's a gorgeous car. we love the way it looks, everybody who has one likes them but the stock itself is not a buy here, we do think it's a sell it was down 60 and went down another 50 >> $10.29 stock. >> i would say for the drive, they have to have a feature to turn off the one pedal driving you have to be able to coast sometimes, just throwing that out there. up next, bank earnings, doug, kicking off next week. is there one name you're watching more than others, and what is the trade? >> we think we really like

jpmorgan of all the big banks. they came out and preannounced concerns on net interest margins but we think they let the bad news lead and 2025 they will have a great year for fee income we would buy the shares here we do own them >> so we have doug up against carter worth and we'll see who prevails in this fight about which way jpm goes fedex, following the port strike should you be an owner, doug >> this one, if you have it, you might as well hold on to it. it's down 13% or so in the last month. it's a pretty messy -- they reported a pretty messy quarter. we would sort of hold off on getting into this. if you're in and you have it, we don't think now is the time to sell if the economy soft lands next

year, they should really be back at the 300 level but there's enough messiness within their production and some of their freight volumes that we're not sure we'd get in just yet. >> too messy that's what he says. doug, thanks doug butler. thanks for watching "power lunch" and thanks for having me. tyler will be back monday. >> do you want to issue a correction >> it was jeff van gundy >> "closing bell" starts right now. thanks so much welcome to "closing bell." i'm scott wapner live at the new york stock exchange. this make-or-break hour stocks with striking distance of record highs after that blow-out jobs report we will track all of this over the final stretch as always. and ask the wharton professor, jeremy siegel, what today's news means for the bull run in stocks first let's show you the scorecard with 60 minutes to go in regulation. we're green across the board nasdaq is