so how do you invest in gold? sandstorm gold royalties is a publicly traded company offering a diversified portfolio of mining royalties in one simple investment. learn more about a brighter way to invest in gold at sandstormgold.com.

good afternoon, everyone. welcome to "power lunch," alongside contessa brewer. welcome, contessa. >> thank you. >> i'm tyler mathisen. the big story for the markets right now is the dow and s&p 500 once again hitting all-time highs. the nasdaq just about 1% from a record. this is probably not the most -- the greatest number of all time records for the s&p in a year, but it's getting up there. >> but you just can't keep a broad rally down, apparently. >> apparently. >> meanwhile, hoping to lead the nasdaq is nvidia. ceo jenison wang with some positive comments. apple also higher. we'll speak to an analyst who says sentiment on apple has gotten too negative. lots of questions about how much apple relies on chinese consumer and is the stimulus or lack thereof really a factor in whether apple goes big. >> what i saw over the weekend is we may have seen the last of the annual announcements of an iphone. that they may go to a less sort

of regular, every single year coming out with an upgraded version, because the upgrades may not be as exciting as they once were. and next, david tepper says buy everything in china, because he thinks the government will do whatever it takes to spupport te economy. but current investor plans have left those wanting and chinese stocks are way off their recent highs. one of the arguments is they announced stimulus and they never sort of add up to as much as the hype. >> and they just want more detail. and that detail has not been forthcoming. we'll have to wait and see in a couple of weeks as things go forward. >> for now -- >> that's the way it is. >> we'll begin with the markets, broadly speaking. as we mentioned, new highs for the dow and s&p 500. there are always worries and hurdles, but right now the markets seem to be clearing them. let's bring in mike santoli for more. october can be a rough month, but so far, we're only halfway through. there's a lot of time left here. the second half of the game is still to be played.

a lot can happen, but so far, so good. >> for sure, tyler. one of the things about the seasonal tendencies for some choppiness or downside action in october, everybody knows them going into october. we were braced for something worse. the persistent uptrend in this market is a function of the known visible positives, just outweighing the feared hypothetical negatives. and those positives, of course, the economy has begun again, outperforming economists' forecasts. you have the fed that is in easing mode, to whatever degree, ultimately, but right now, an easing mode into an earnings upswing for the s&p 500. that's not the most common combination out there. and obviously, we have corporate credit spreads that are very tight. just this general acceptance of risk out there. soft landing seems more positive and benign. and of course, believable, than not right now. what do we have to worry about? well, we're evaluated in valuation. 21 times forward earnings. probably can't sustain too many disappointments on that front.

the volatility index is down a bit today, it's under 20, but it has been evidenced of people bracing for the potential of volatility to kick up in october. that's now starting to ease back. it was very anomalous to have the market clicking to new highs. it seems as if right now, at least today, it's the vix that is buckling here. >> mike, we like having you around, if you would just stay put, we want to get to the next big question, can the market continue to rise to every challenge, or are we going to see earnings derail this rally. our next guest thinks, stocks have some further room to run. malcolm etheridge, planning group managing partner, also a cnbc contributor, malcolm, it's good to see you. why do you think that there is fuel in the tank? >> thanks, contessa. i think that it's a mistake to try to maybe view this particular market cycle that we're in with ai and the trends that have come from it, just focusing on traditional valuation lens. considering we don't know

exactly where we are in that gartner heights cycle. have we reached that trough on disillusionment, we really don't know. i think that leaves a lot of opportunities for positives, even if it's not in the mag 7 or hyperscalers or megacap tech or whatever other name we use to describe them. >> if we don't use traditional metrics to assess ai opportunities in this market, what are the metrics we should be looking at? >> yeah, i think the fundamentals matter a little bit more, right? if we just consider the fact that names like microsoft and amazon and alphabet, they've been investing billions of dollars the last few years into generating large language models that can create technology off the backside of them, that we have yet to even really understand, what the true value of those is, and so i think there's a lot of intrinsic value still trapped inside of each of these companies that owns one of those large language models. so that alone is a fundamental that tells us, there's still more value there to be realized, we just can't really put a

number on it yet, because we're still so early in the process of building out the technology. >> we're going to use ai to evaluate ai. >> exactly. malcolm, one of the things it seems you're very interested in are data centers and the sort of virtuous circle of companies that surround them. explain that and name some names. >> so if you just consider the fact that i just named three of hyperscalers, each time, microsoft, for example, goes to buy another gpu from nvidia, it's got to go into a data center somewhere, which means then that a new data center has to be built. which means that someone's got to both power and cool that data center. someone's got to manage that data center. i'm looking at names like digital realty, which is an obvious one to anyone who has been following this trend, they're the second largest publicly traded reit right now. but based on their working relationships, among the megacap tech names alone, i could see

them moving up a couple of spots and overtaking someone like a simon properties or public storage by the end of the next year. for one, on their last earnings call, they appointed out that only half of their bookings right now come from ai-related activity. that's a lot of opportunity for them. plus, they have these companies beating down their door right now wanting their own data centers instead of having to co-locate, which has traditionally been digital realty's playbook. so that's what's going to drive a stock like a digital realty even higher in 2025. >> you also like a dear old utility. dominion. >> yeah, tyler, i know being from virginia, you know just how much of the world web traffic flows through northern virginia. dominion is perfectly situated being a virginia power company, it provides power to the entire state. what's unique of them is as ai is forcing all of these

different energy producers to focus on expansion in a way they haven't in some time, dominion is perfectly positioned to take advantage of that opportunity that's going to come from all of the rest of this activity. >> i note that you don't own dominion personally, but do own digital toll realty. mike, back to you for a minute. one of the things that's been remarkable in this most recent rally is the way it's broadened out past the superstar performers that we saw in the beginning of the year. we're seeing the best s&p performance leading into a presidential election ever. the best performance in the s&p to this point in the calendar year, since 1997. but that kind of marks the -- what was then, as i recall, i was so young back then, but the internet bubble. it was like leading up to the internet bubble. have you seen in the past where there's an economic implosion following this optimism on all counts? >> yes, wcontessa at some point.

'97, two years into the internet craze, probably two and a half years to go as far as stock market upside benefiting from it. but you had a choppier road, '97, '98, you both had serious corrections, and it wasn't just because of disillusionment with tech, there was some kind of thing in the capital markets. things kind of popped up. and if you have a substantial market, do you have the stock absorbers to handle those things. my first question after seeing that performance year-to-date and seeing things like nvidia and everything else run higher and really fatten up the year-to-date performance is is it too much of a good thing yet? have technical conditions and sentiment really gotten overheated? and i wouldn't say they have just yet. it's been a more measured increase. you mentioned the broadening out of the market. it's not just six or seven stocks. last quarter was very broad. interesting now, you start to see nvidia and apple grab the reigns today and maybe they can

act as support here. they had their three-month reset and cooled off a bit. >> the one thing you point out in your column here, you're seeing the volatility index above 21 at the same time the s&p 500 is at like 21.9% higher this year. both at 21, what does that tell you about this market? >> it's interesting, so it's expensive, it's well owned, meaning people are generally bullish until the end of the year. but there's this little multi-week period, we are in it right now, where everybody believes that there is the possibility of, you have pre-election jitters, post-election disappointment, something out there that can cause -- plus the seasonal effects, that can cause the index to have a little bit of a pullback, or volatility spike. that's just -- the vix just telling you, people are buying insurance against that possibility, not that they're really negative on stocks, or there's something necessarily very scary brewing in the markets. i would expect credit conditions to worsen more than they are right now, much more, if that were the case. >> all right, well, mike's

taking the closing bell by the horns and coming up at 3:00 p.m., hosting that show. malcolm etheridge, it's good to see you, thank you for joining us with your perspective. >> coming up, a catalyst call. a wall street sentiment around apple shares has grown bearish recently. but one analyst says the negativity is overblown and the company's latest earnings should propel the stock higher. he'll join us to make his case when "power lunch" returns. after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" i'm thinking company wide power nap. [ employees snoring ] anything can change the world of work. from hr to payroll, adp designs for the next anything. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought

we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance.

why choose a mobile network built for places you'll probably never be... ...instead of for where you are most of the time? xfinity mobile was designed for where you need it most. now xfinity internet customers can buy one line of unlimited and get one free for a year.

doors lead us to places we've never been. your dedicated fidelity advisor can help you open those doors. they can help you create a retirement-income plan designed to balance growth and guaranteed income. and provide access to specialists who help with estate planning to look out for future generations so you're not just growing and protecting your wealth. you're sharing it. because doors were meant to be opened. great job, everybody! welcome back to "power lunch." the nasdaq the best-performing index today. less than 1% from its all-time high. nvidia, the big driver, getting very close to a big record as well. seema mody joined us at the desk

with more on this. plowing straight forward. >> this record run. i think it brings out this question on wall street of how long can nvidia's dominance last when it comes to ai chips? and the marketplace, as we know, is only getting increasingly more competitive. here's what nvidia's ceo jenson wong told brad gersner on his podcast yesterday. >> to me, when i think about a computer, i'm not thinking about t that chip, i'm thinking about all the machinery inside. that's my computer. and we're trying to build a new one every year. that's insane. nobody has ever done that before. we're trying to build a brand-new one every single year. every single year, we deliver two or three times more performance, every single year we reduce the cost two to three times. >> huang also dismissed the idea of nvidia being the next cisco, which was at a similar position in the late 1990s and famously lost market share. he also said that computing

tools, the need to curate more data all underscored the important role nvidia is playing. and he does not think that ai la eliminate jobs. he looked at nvidia, which employs 32,000 peoples and hopes to get to $50,000. and he praised elon musk at the speed in which he's building a super computer in the span of 19 days, which he typically says three years to plan. >> 100 million ai assistants for the 50,000 employees? >> exactly. he's growing. he's looking to hire more people, go from 32,000 to 50,000. but coinciding with that, building out these ai assistants, which will help them run these models and launch ai applications. >> can they keep up that space of a new offering every year? is that zwsustainable? >> that's the big question. with blackwell, we are seeing those delays. that's the timeline. every year, a new product that will be faster, cheaper, and

better than some of the other alternatives. that's significant, especially when you think about google, meta, amazon, meta all working on their own in-house things as well. >> nice to have you here. let's talk apple, why not. why shares are up 20% this year, sentiment has recently turned more bearish on the stock amid weak demand nor the iphone 16. but our next guest disagrees. he just added apple to his tactical outperform list and thinks that earnings at the end of this month will push the stock higher. senior managing director at evercorps asi. make the case for apple here. a lot of people are a little down on it, a little zpo disappointed with the reception of the iphone 16 and other things and worried about china. >> the disappointment on iphone 16 is fueled by two things. one, the lead time, how fast you can get an iphone 16 is much

shorter today. i think lead times, delivery times are a reflection of two things, either demand is really bad or supply is really good. and i would argue supply is really good. you're more far away from the pandemic. the forecast models are better. i think the shorter lead times are more a reflection of better supply, worsening demand. and apple intelligence will eventually become a bigger driver for demand. and i would also expect the end of october, when apple will formally lay out and launch apple intelligence with ios, it's for incremental demand that some of those features not just get used by consumers, but critically get used by developers. so we see a couple of catalysts that should help them. >> did you find it curious that here is this phone that is supposed to be equipped to run the latest ai, but apple said, hey, we're not really ready to give you the latest ai until a month later. that's not usually the way they've done it. and to me, it dampened a little

of the enthusiasm that i or a potential buyer might have for the product. >> listen, it is unusual, the they they've done it, i'll conceive that. but i would much rather have them have a more polished final product out to the masses, versus having a half-baked product out that might disappoint and disillusion you much more. while it's frustrating, i think it's a better solution, given the fact that the launch, a billion ios users download it and use it more extensively. hopefully it's more ready. >> there's so much skepticism right now about the chinese consumer, there's so much anticipation about chinese stimulus and whether that might spark more buying. how much of a threat is that huawei in china. >> home did really good against huawei. so apple has picked up a good

bit of market share in china. the risk is always, the sum or all of it's got to be moved back. i would say most stimulus dollars, which chinese consumers is directionally a good thing for high-priced products, like an iphone or smartphones. can apple really compete with huawei. i would argue that huawei does no have access to leading edge technology, which means you can run chips in 2 meters over time. apple intelligence is eventually going to be a driver, is probably not going to be in china for at least six months, until we figure out some of the local approvals that they need. i think they'll do better in china, but i think huawei is incrementally a bigger threat for them, given some of the nationalistic dynamics at play? >> what about wearables and subscriptions, which have become, you know, an increasingly important part of apple's bottom line. >> yeah, it's a great point.

i would say beyond apple intelligence, the improvements we had in air pods and apple watches were much more pronounced. we almost seem to be finally getting to this magical crossover point between wearables and health care devices, which i think could resonate and provide a lot of demand. wearables will see a really good inflection higher and you'll finally see some good momentum over there. services, i would point out, have shown some really good momentum. we think that will be one of the areas of upside is better services and services critically as much better gross margins. >> so what you're saying is, you could see more profits on that particular segments of the business and depending on how much it grows than they do on their hardware? >> absolutely. services are running at 80, 75% gross margins depending what products is. hardware is generally at 25% gross margins. >> amit, thank you so much for joining us. we appreciate your time today.

>> thank you. coming up, lucky number 13. every sector of the market has found technical support on the 13-week moving average. anr chartist explains what that mes for the broader market and how you might be able to cash in. market navigator is next.

welcome back to "power lunch," everybody. we've got green numbers there. the industrials up about a half percent, s&p 500, three quarters of a percent, and nasdaq, a little bit more. all-time highs earlier in the day, for the s&p. so, dom, what is in today's market navigator, my magellan. >> here's the thing, with those record highs we're talking about, technology is a very big part of that story. with that record story, our next guest is keeping an eye on sectors andthey're rotating around. and they're also talking about her strategy in the face of these volatile conditions. she says technology is well positioned for, get this, a breakout, which could mean even more record highs. we're speaking with jessica inskip, director of research at stockbrokers.com. take us through this position argument right now. what is it that you're seeing?

na navigate us through that tech story and why you think a breakout is in the cards. >> speak to the bigger picture we're seeing in the market and the broadening we've been focusing on. but technology is really positioned for a breakout and has created what i like to call consolidation for that type of momentum we're looking for. we have failed to make a higher high since july 8th. that higher high is 237 when we're looking at xlk, but when i'm looking at consolidation, i want to see a breakout or what are the chances of that occurring when we're seeing stuck in a trading range. i want to see if we're making higher or lower lows. that's exactly what we're seeing. the direction of sideways is going to come to a meeting point at some point which is really well positioned for a breakout that i see within xlk. but again, looking for that close above 237 and a weekly close above 237. >> so if that were to happen, that's upside fuel, a catalyst for that kind of breakout move to the upside. what do you think could be the catalyst that we are seeing or not seeing, that could make it

so that that move higher is in the cards, really? >> yeah, absolutely. so from a technical perspective, we've got a crossover from mac d. which is always a good sign. that's our signal. the catalyst, of course, is earnings. we're getting into earnings season. tech will be a little bit later on. the big ones, even later so. it's the anticipation where the market gets excited and that could certainly be enough to take us over that line. and if we want to talk about targets and we do observe that weekly close above 237. i love to use fibonacci extensions from t lowest lows and that full overall market. if i'm going back october of 2022, we could get a target of 271 utilizes the fibonacci extensions at the 127.2 line. so there is a lot of room for upwards momentum, if we observe that break out out of consolidation that we see right now. >> for all of those chart patterns and terminology she's throwing out there, basically, if these certain levels get hit, success could be getting more

success. one last question before we leave you, jessica. that tech trade is the biggest influence on the entire s&p 500. if that were to happen, does that say that the bull market continues for the broader s&p 500? >> i would certainly believe so. it's a big component of the s&p 500, but it's not as black and white as that. there's certainly more cushion, because i see some momentum even within industrials, and like we said, coming on at the top of the show, every single sector is showing support at the 13 weekly moving ampverage. if one quarter of prices is serving as support, there's a really good sign of additional momentum going forward. absolutely. >> jessica inskip over at stockbrokers.com. thank you very much. appreciate it. we'll see you soon. >> i didn't have heronacci exte. >> i think she's all about the nautilus show. >> but the idea that you have higher lows sort of establishes the foundation from which a market can move. >> people talk about fantasy

sports and ceilings and floors. we kind of like to see those floors get raised every once in a while for those players as well. >> the floor is low for the giants. >> i'm a niners fans, i'm in a state of flux right now. i'm in this consolidation phase. >> dom, good to see you. >> you got it. >> all righty. contessa, over to you. >> all right, guys, you can join us october 24th for our cnbc "your money" event. you'll hear from financial experts on how to grow your wealth, achieve your investment goals, and safeguard your money. who doesn't want to do that? scan the qr code on your screen or visit cnb cnbc.com/events/yourmoney. check out shares of trump media today, higher by nearly 20% today on a perceived shift in the election odds. we'll be right back.

(♪♪) the best way to solve a problem is to keep it from happening. (♪♪) at evernorth, we combine medical and pharmacy data with behavioral health data to identify members in need of care. predicting and treating behavioral health issues quickly... while lowering costs for plan sponsors and members. that's wonder made possible. evernorth health services

doors lead us to places we've never been. your dedicated fidelity advisor can help you open those doors. they can help you create a retirement-income plan designed to balance growth and guaranteed income. and provide access to specialists who help with estate planning to look out for future generations so you're not just growing and protecting your wealth. you're sharing it. because doors were meant to be opened. great job, everybody! welcome back to "power lunch." the nobel prize in economics awarded today to a group of three economists for the research into how countries become wealthy and prosperous.

summing up their research at the press conference, one of the winners said, quote, broadly speaking, the work we have done favors democracy. which leads us to concerns about ch china's economy. chinese stocks have pulled back as those details just been vague. eunice yuan joins us now. what are you learning about the stimulus and whether it's coming down the pike? >> bewell, contessa, the detail are vague. because the problem here is that transparency really isn't part and parcel of the overall policy-making process here. the government has been attempting to message to the market that they want to get more involved in supporting the economy, but they've been leaving investors wondering about the specifics of this plan. over the weekend, the finance minister held a much-anticipated briefing and laid out some of the steps. he said the right things, saying that they hope to take the most powerful steps in years to

tackle local government debt. they would expand funding for unsold homes. so tackling the troubled property sector. and they hinted at ample room for greater government borrowing. many investors were expecting to see more, hoped to see a headline, a fiscal spending number, but there were some who took it positively. bank of america, for example, called ate policy pivoting point. the chinese vice premiere has been on an inspection tour on real estate projects to try to courage people to really push through those home deliveries. and there's been a lot of anticipation that we are going to see more specifics soon. in fact, just tonight, the chinese media had said that china may raise $845 billion. the equivalent in rem&b, in special bonds, over the next three years. mainland china investors would be very happy to hear that news, if it does come to fruition,

especially after the bad economic data that we had for september. the core inflation export, import, credit, and bank, loan growth all pointing to weaker growth. contessa? >> you know, it's interesting. a lot of the commentary that we have heard, it seems likes focused on broader macro economic themes and housing in particular. what are you sensing in terms of stimulus for the chinese consumer? >> that was very small. it really wasn't a big part of the overall announcement and also the weekend discussion. that is key. there are many people who say that the fiscal spending component and are really addressing issues for consumption are going to be what's going to drive the economy forward or needs to be -- needed to drive the economy forward into next year. one of the numbers that i have mentioned, the export/import numbers. the trade numbers were supposed

to be what would help china get out of this mess. that they would export their way, sell all their stuff for a very competitive priced price point overseas, and now it looks like those numbers are not hitting. so that is a big problem for the chinese government. they need to be able to rely more on chinese consumption. and right now their major problem is that consumers don't have the confidence to spend. >> and can those consumers -- and that means that they're not importing as much goods either, right? the chinese economy. >> yeah, yeah. yeah, that's right. they're not importing as much. also, the oil price -- oil imports were being affected as well. people are not traveling as much. i was looking at some of the tourism pricing numbers. they were not as good. that's a big issue that the government needs to address. there have been a lot of questions as to why they haven't been doing more. and part of it is some people are saying that it's because of the risks from debt that have

kind of traumatized the policy makers here. they don't want to go back after the financial crisis in 2008/2009. but the other issue, i think, kind of hits the point that you were talking about, right as -- leading up to this segment. and that is that you have -- there's a belief that xi jinping is the one who has to sign off on everything. and so -- and that there could be an ideological reason why he doesn't necessarily want to push ahead with growth. so he's complained a lot about welfarism and the idea of fiscal spending in that way. and so, that -- because of that, that's really seen as another major issue for the way china could go forward. if you do have one person who is in charge, who makes all of the decisions and doesn't really want to make the decision that prioritizes growth and sees national security or tech dominance as other issues that are more important. >> thank you very much, eunice yuan in the middle of the night in beijing for us.

thanks, as always. meantime, let's get to julia boorstin for a cnbc news update. hi, julia! >> hi, tyler. italy, germany, france and great britain issued a joint statement today calling for israel to end its attacks on the united nationsed peacekeeping mission in lebanon known as unifil. the nation says they have faced repeated attacks from the israeli military in recent days, which the group of country says violates international humanitarian law. sy israel has called on the u.n. to move the group of the area as it continues its ground offensive against sfhezbollah. sean combs is facing a new series of federal complaints. the complaints include allegations of sexual assault and rape spanning from 1995 to 2021. diddy's lawyers claim the new suits are the results of people looking for a payday. it comes as the music mogul faces a federal sex trafficking indictment in new york. he has pleaded not guilty. and a new jersey transit

light rail operator died today when a commuter train hit a chunk of tree on the tracks. the transit system says 23 others onboard were treated for minor injuries. authorities are now working to determine how the tree ended up on the tracks. tyler, back to you. >> julia boorstin reporting. casualty and property insurance carriers saw a big start to the year, with many of them seeing big profits and stock gains in 2024. but a pair of hurricanes slamming the sthstn e ouea ith past few weeks have thrown a wrench into things. contessa, who's sitting right here, is going to give us those details, next.

well, moody's just a few hours ago ago released an estimate of $35 billion to $55 billion in private market insured losses from hurricanes milton and helene, but of course, the wide scale of damage could throw a real monkey wrench in this turnaround trend that we've seen for property and casualty insurers this year. the last two years, you saw this industry paying out more in claims and expenses than it took in in premiums.

that's the combined ratio. and anything that is over 100% shows it's not an underwriting profit. but a report by the insurance information institute shows that the first half of the year, things turned a corner. in part -- we have all noticed this, property insurance and our car insurance premiums have just soared. insurers have been scrambling to get enough rate to cover their risks. and in part, it's because first-half losses, you know, natural catastrophes, were lower than expected. so tyler, what you're seeing now is the stocks on these companies have just soared. all-state and progressive, up 57, 68%. you're seeing berkshire hathaway and chubb and travelers and aig seeing enormous gains because they've been able to raise rates. >> that's exactly right. and they're making up for losses. but what we're likely to see with even -- take all-state, which is the number four auto

insurer in florida. but remember, auto insurance, when you issue a comprehensive policy, you're responsible for paying on flood claims as well as wind and trees falling on cars and things like that -- >> for cars. >> only for cars. all-state might this as an earrings event. it might disrupt the earrinings. it might be so big that all-state can turn around to its re-insurer and file a claim. but re-insurers, who might also get hit this season, will turn around on january 1st, hike the rates again most likely, and we all start the cycle again of rising rates. >> it goes back to the consumer, and we end up having to pay more ultimately, because the insurers is having to pay more for the reinsurance. >> we have to watch this. it's a complicated situation and we don't have a great handle on what private insured losses are. >> you can only imagine that there are tens of thousands of cars and trucks that have been destroyed by the flood. >> you're absolutely right. >> all right. moving on. shares of vistra higher.

the best performer on the s&p this year, it is up 240%. but btig out with its own note, warning of a looming correction for ai stocks. for ai stocks. could you buy more cash out when we turn to three stocks. that lives this long so i think it's really unique and special that we've experienced so many, so many things in life together. knowing that he's getting good nutrition and that he has energy is a huge relief for me and my dad. “such a good little bean.” we're so grateful to have had this time with him, so let's keep it going and make every day special.

doors lead us to places we've never been. your dedicated fidelity advisor can help you open those doors. they can help you create a retirement-income plan designed to balance growth and guaranteed income. and provide access to specialists who help with estate planning to look out for future generations so you're not just growing and protecting your wealth. you're sharing it. because doors were meant to be opened. great job, everybody!

time for today's three-stock launch and we look at three stocks making moves off analyst calls today. our trader is victoria green, krrk io at g-squared private wealth. up first is caterpillar. those shares are lower after a downgrade from morgan stanley, citing risks of downward earnings revision for the trader. your trade on the big cat? >> it's still a rip. it's been on a tear since mid-september. i do like this stock. i think it's moved too far, too fast. there's so much being bet on the china recovery driving all of this machinery and manufacturing. and there's a little bit of uncertainty on data that has come out, their exports are softer, they've been a little bit vague on what the stimulus is going to be. we didn't get real numbers.

and if you look at u.s. manufacturing, it's the one weak point in the economy. i think if you look at this, you had declining earnings in q2. hey, it might get better, i'm concerned about inventory build. i'm concerned that you're just going to see slowing sales, especially in the pacific, which is about 18%. for me, it's a lock in your profits, you look somewhere else, but just really, really expensive after a solid september. and i don't think manufacturing data has been there to back it up. >> vistra has been riding the ai-related boom. it dethroned nvidia as the best performing, up 240%. that is attention getting. bnp initiating at outperform, with a 231 price target. would you be a buyer? >> absolutely. i think this is a $200 stock. one of the only publicly traded independented operator, they're not regulated, they can mark to

market, they have great pricing, you can see the trajectories there. they're bringing on more and more capacity and they have a great marketplace in texas. i look at it and say, okay, people are starting to do all of these tie-on deals for data centers, they'll build new nuclear and solar. and we've seen that as a huge catalyst for them. it's a way to play the hyperscaler space without paying the exorbitant multiples you're seeing in tech. it's still a little bit cheaper, at 26 times forward earnings. still cheaper than a lot of the other ai plays out there. and we're going to need more power. they have nuclear, solar, natural gas. not a huge amount of goal, and for me, i can see to continue to have these projects online. ver friendly with buybacks and dividends and they should have their max capex this year. and they're growing earnings. how could you not like a stock like this. >> let's go to canada goose. it's sliding as wells fargo

downgrades it to underweight, citing challenges facing the luxury outerwear space. what is your trade here on canada goose? >> i think it's goose might be cooked a little bit. terrible dad pun. this is a sell for me. their competition is very strong. you have that brand coming out that's been stronger seller in china. they had good news on that brand and bad brand-news overall on canada goose. they need to be the cool factor, the it factor to pay $1800 for a jacket. they're struggling to sell anything beyond the hefty weight jacket which is their highest margin piece of clothing. they're struggling to move into other parts other than the lightweight jackets. they're not selling as well and their direct to consumer push is slowing. so wholesale has been slowing. the dtc channel isn't arriving as fast as wholesale is slowing. they can't get their foothold back in china. they're losing ground to other

luxury sports brands and that could dethrone them as the cool jacket to own this winter. for me, this stock could retest the 10 area and push lower. i'm going to sit out. >> canada goose out in the cold. >> goose cooked. victoria, thank you. appreciate it. >> always. >> still ahead, new york state of mind. the big apple sports teams are back in the spotlight after years of disappointment. the mets and the yankees both advancing to the league championship series. mee s no coincidence, they hav so of the highest pay rolls in baseball. let's dive into that next.

ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for

cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

let's give you a quick check on the markets. all higher right now. industrials up 222 points. s&p up 47, and the nasdaq nearly 1% higher. >> shares of flutter rising as

bank of america initiates coverage with a buy and a price target seeing more than 30% upside. the parent of fanduel, the market leader in the nation, also getting positive commentary from jmp securities and wells fargo. and boy, is it a great time of year for the sports better. as you have the nfl, you have the nhl starting, nba season begins soon. you have baseball playoffs. even better for sports fan in new yorks is both the mets and yankees will be playing in the league championship series. today, mike ozanian joins us now. you have two teams in the new york, the dodgers in los angeles. major market teams, cleveland, let's not leave them out. how big is this for tv ratings? >> this is huge. if you're major league baseball, you're dreaming of a yankees/dodgers world series. that would be optimal in terms of ad rate, viewership. if you get to game seven of a yankee/dodgers world series, you could see ads going for $700,000 for 30-second spots. >> you know who doesn't want

that? new yorkers. new yorkers want a subway series. >> ratings last time we had a subway series were not that spectacular. outside of new york, the ratings aren't that good. >> we live in new york so we're sort of -- >> also, if you have a dodgers/yankees world series, you have the two most popular players in the game, ohtani and judge. >> this translates into huge money. if you go seven games, world series, you're talking four, 60% of the revenue, the gate receipts, goes to the player, 40% to the owners. when you go beyond four games the ratio switches, 60% to teams, 40% to players. the yankees could make upwards of $40 million should the series go seven games. >> do you think tickets will go for, let's say, there's a subway series, new york versus new york, what would the tickets go for in the after market and let's say there's a new york/l.a. series, what would the tickets go for?

>> i would say thousands of dollars in new york for both. the mets haven't been there in a long time. the yankees since 2009. so just go to stubhub and see what some of the prices are. they're crazy. >> then you have tickets, concessions, merchandise on all of that. does that all go into some of what the teams are seeing? >> absolutely. the two ways you look at the economics of this is the immediate results, which besides the tickets, you're talking about concessions, if you have a store in your stadium, the team keeps that money as well. this is also huge for brand building if you're one of these teams. met fans have been disappointed for so long. steve cohen, the owner of the mets, issic looking to flip that and a trip to the world series would do that. for the yankees, they're involved in a lot of other business besides baseball. they're involved in soccer, you're talking about extending this through other sponsorships with all your assets. >> it's an empire. we're going to tin to follow

that. before we go, lilly ledbetter, an icon of the equal pay movement in america has died at 86 years old. her activism led to the signing of the fair pay act in 2009 which makes it easier for workers to sue if they discover pay discrimination. in the '90s, after nearly 19 years of working for goodyear, led better learned she had been earning thousands of dollars less each month than her male kournlt parts. later she sues the company in a case that went to the skourtd, and despite losing that case, she became a tireless advocate for gender equity, hailed as a hero, a champion for women and for workers by union leaders and executives alike. she fought for this cause until the very end. according to equal rights advocates, women still only earn about 78 cents on the dollar that men do. black women, 66 cents. latina and native american women barely make more than 50 cents on that dollar. clearly, there is more work to be done on this front and more work beyond just women. like, when we look at people

with disabilities that you want to see more pay equity in the workplace. lilly ledbetter was a reason why. >> a pioneer in that area. and an underappreciated underknown one, i think. >> and have the support of her husband, when she said let's go forward and she found out about the pay inequity, her husband supported her in that fight that went all the way to the supreme court. so it says a lot about the male allies in that fight as well. >> absolutely. she will certainly be missed but her memory lingers and what she did is very important. that will pretty much do it, i guess. why don't we just end it here? >> market check? >> a little market check. all the arrows green right now. the industrials up a half percent. nasdaq also higher, so is the s&p 500. there you got them, all of them. nasdaq up almost a full percent. thanks for watching "power lunch." >> "closing bell" starts right now. >> welcome to "closing bell." i'm mike santoli in for scott wapner. this make or break hour