find talented candidates, so you can connect with them fast. visit indeed.com/hire ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals and look forward to a more confident future. voya, well planned, well invested, well protected. ♪ good afternoon, everybody. welcome to "power lunch." alongside kelly evans, i'm tyler mathisen. good to be with you. good to be with everyone. stocks are solidly on in the green on this election day. the dow the worst performer shy of 1% gain. there you see it moving higher. s&p is higher by 1% and the nasdaq the biggest gainer.

that's a little relief that finally this election is getting done. >> you know, there's optimism across the board. i keep joking no one is talking about the circumstance ms services report. it was strong. >> they're not talking about that. how did that getover shadowed by anything. >> it's not catching on but it's there and it was strong. if you reflect on the past four years you probably think tech is outperforming everything else more than half of components during the s&p energy sector have doubled during that time. >> this is a point rich bernstein made yesterday if you had gone with the conventional wisdom in election after election after election, you would most often have been wrong. this was an example of that. bitcoin jumping today, getting back above 70,000. former president trump is seen as a pro-crypto person. so is today's move a sign the crypto community thinks he's going to win? or a hopeful flag there, signal

there, i don't know? >> if you look at the chatter within those kind of twitter -- yes, they think that's what's going on. if you look at the shares of djt, a fun proxy all afternoon long, up a little less than 16%. what's curious about all that is at the same time big tech is outperforming. that's supposed to be the harris trade. not everything is lining up according to what we perceive to be the odds. >> we'll start with the markets as wall street and everyone here awaits the u.s. presidential election results. investors are also watching the fed with the big decision on interest rates later this week i think on thursday. for more on the impact on all this on your money, let's bring in chairman and mike santoli, senior markets commentator. jason, welcome. i'll begin with you. do you see it as simply as this, if mr. trump wins, it's better for stocks. and if ms. harris wins, it's a little harsh her for risk assets? >> tyler, i very much do see it

that way. and i think if only because we've had donald trump as president before. it's more of a much more better entity, better known quantity than kamala harris. and i think some of vice president harris' -- some of her proposals seem to be at least an extremist very much anti-risk particularly anti-stock. so, you know, we'll find out, of course. a lot of this depends on what congress looks like and a lot depends on events as well. i very much ascribe to that view that a trump victory would be very good for stocks and i think a harris victory would not be particularly good for risk assets. >> one of the things you see, jason, the biggest theme no matter who wins, biggest themes in the market is deglobalization. i guess that means the returning to the united states of major manufacturing processes that

could help defense, gold among other things i guess artificial intelligence. >> yeah. listen, i think there's very few things the republican, democrats can agree on, tyler, these days. but one of the things they can agree on is that china is seen at best as unreliable trading partner, and at worst an enemy. and therefore there's a very strong tendency to want to do more manufacturing closer to where goods are being produced. so, very elaborate supply chains, in my opinion, will be shortened quite a bit, which means higher costs. but i also think the consensus largely moved much more towards really president trump's view in 2015 and 2016 on this point. and so, downside of that could be a bit more -- could cost us a bit more. the good news, of course, is that you have more secure supply chains for things that we desperately need.

and could be national security issues. >> mike f we just zoom out for a minute, obviously the easiest trade of the past ten years no matter who the administration has been to own big tech. now they're called hyperscalers. is there risk of focussing too much on whether you buy the industrials or don't under this president or that president versus saying is it still just a sure thing to stick with those kind of secular growth stories? >> i would say those are the stocks that are probably most immune to any real policy swing as much as it might be a little bit of trying to nip their ambitions in terms of regulation. i think really, though, if you ask me what are the top three things you want to know in terms of how the stock market will do from here on out, i don't know if the election makes the top three just because the underlying trend is what it is. you mentioned the isom services number today. i've been focussing on it. that's when buying yields started to kick higher, got that number. it seems to be humming. so, yes, there is a little bit

of buy bonds if harris wins because it will be a gridlock scenario and won't be a higher metabolism economy. the tough part here is to figure out whether the present conditions are close enough or too different from let's say 2016 to when that sofrt deregulatory, lower tax medicine that came with the first trump administration was the absolute welcome thing. we were dealing with undershooting inflation, sub par growth. we had this very, very sluggish economy and that was the fix. right now, we have been trying to restrain nominal gdp growth. by the way, 2020 -- >> that was the i was making in the last hour, what's in the agenda that would deliver a real short-term boost to stocks? >> it's vibes. the market is acting today as if it realizes we're going to have some kind of result at some point not too far away. >> really? >> well, i don't mean necessarily tonight. but i think the market is acting

as if we have the potential to read risk. we spent a month churning around, the average stock has corrected quite a bit, even though the index has hung in there and everybody believes november, december is a buy for stocks. people belief it whether it's true or not. also that's going. we traded one-month low at s&p at the close yesterday. we're just bouncing to kind of get back toward a nuch spot. >> jason, one of the things you have your eye on is a possible second wave of inflation that could come from higher wage settlements and couple labor disputes going on. budget deficits. deglobalization as well as immigration. i assume you mean here the mass deportation of undocumented workers. >> well, tyler on that score i'm not so sure i mean that because i think the initial impulse of higher immigration is actually lower inflation. but actually as those people tend to establish roots, they

also start to use credit. so, i'm not particularly sure that this wave of illegal immigration, there's no question it's been positive for inflation believe it or not the last couple years. i'm not so sure it's positive moving forward. and i'm not making a value judgment one way or the other. but i think those other things that you mentioned, we have been running budget deficits of 7% of gdp roughly for the past four years despite the fact that we're at full employment. that's never been done before when we weren't in war or or in a recession. deglobalization, decarbonization all those things are expensive and then maybe most importantly, as you mentioned before, is that one of the reasons why you get a second wave of inflation is that the average person, the common man, we have a statistic called the common man cpi, that tends

to lag wages in the first wave. and so when you see these wage negotiations, what you find is that people not only want to set themselves up for the next four years or six years depending on whether it's long shoreman's union or boeing. they want to get back the real wages they lost over the past four years. that's why some of these wage negotiations seem to be pretty eye popping. and it's one of the reasons why i also think it's a second wave of inflation is quite possible if not likely. and i would just -- i might just say one thing to mike santoli a good old friend of mine, i don't think we're trying to restrain nom mall gdp growth. i think we're trying to restrain inflation. there's a difference between the two, i would argue. >> sure. >> but jason, we are in a high -- higher than expected. i think the point is that we're not in a kind of pre-2016 sluggish growth. remember secular stagnation,

this is the opposite of that. we were talking about sticky inflation, better than expected -- so it's how would we be setting up for trump administration to begin under those conditions. >> growth country cause inflation. washington, d.c. causes inflation. stronger economic growth via higher productivity actually leads to both stronger growth and lower inflation. >> yeah. that's the with holy grail. >> if you have stronger gdp growth almost entirely driven by extra government spending, then higher grouft is inflationary. but that's not what -- that's not really what president trump is going for. that's not what his economic advisers are going for. >> right. >> so to me there's a difference. >> mike, you mentioned that you didn't think the election would be a top three concern for markets right now. >> yeah. >> what would the top three? >> i think in desert island terms, i would want to see how is credit behaving. what are the weekly jobless claims doing and are earnings

growth actually broadening out as we expect right now. if you look over the last four months, the average stocks vastly outperform the nasdaq 100. that's the overdue catchup by the average stock. so markets expensive. it's trying to allow fundamentals to grow into those valuations, i think, at this point. if credit hangs in there, it's -- you allow that process to go on. and if earnings comes through and the forward 12-month estimate bumps up a little bit and time passes, you can move the chains on the bull market and not have to pay the price for hey we're buying 22 times forward earnings right now. >> are they moving up? >> for the fourth quarter not. they're getting trimmed. but that's the common practice. >> we'll see maybe into next year all right. >> thank you mike and jason. coming up, we have housing on the ballot. four years ago it was cheaper to own a home than to rent one. today that's totally flipped. we will take a look at housing affordability and its implications next.

wall street forecasts over $100 billion in sales for weight loss drugs known as glp-1. even with disliked injections. dehydratech processing of a glp-1 drug demonstrated improved blood sugar reduction and reduced side effects. study results are arriving monthly and lexaria has entered a new relationship within the global pharmaceutical industry. lexaria bioscience, transforming the future of glp-1 drug delivery.

your business needs a network it can count on... even during the unexpected. power's out! power's out! -power's out! power's out! -power's out comcast business has you covered, with wifi backup to help keep you up and running. wifi's up. let's power on! let's power on! let's power on! -let's power on! it's from the company with 99.9% network reliability. plus advanced security. let's power on! power on with the leader in connectivity. powering possibilities. comcast business. power's out.

welcome back to "power lunch." one of the key economic themes this election has been the cost of things, food inflation, for instance, housing as well. those costs have soared in the past four years. diana oleic is here with a look at housing affordability in the key swing states. diana? >> reporter: well, kelly, just under 40% of early voters actually said housing affordability influenced their choice. that according to a new report from redfin. with a larger share of harris than trump voters saying it was a factor. so let's look at how affordability has changed in the last four years. first, the own versus rent equation. in november, 2020, it was cheaper to own a home than to rent one in the vast majority of the country. that just flipped on its head today. homeownership is now much more expensive due to the sharp increase in home prices fueled by the pandemic with its initial record low mortgage rates.

home prices are 45% higher than they were in 2020. rents rose but they have been coming down due to the oversupply of apartments. let's look at the battleground now. share of income needed to own a home has at least doubled since 2020 in four out of the seven. arizona has seen the smallest change. and these are the three states where it is least affordable to own a home. georgia of course is not far behind. on the rent side of that, north carolina saw the biggest jump in the rent burden while nevada's rent burden actually came down a little. both harris and trump agree housing costs are too high. harris proposed building 3 million new housing units with an expansion of existing builder tax and new credits. she's also called for a home buyer tax credit as well as rent caps. trump is less specific but called for opening more federal lands for housing and cutting back regulations to make building easier. trump has also said he'll lower

mortgage rates but, kelly, as we know presidents don't set interest rates. >> but let's go back to -- did the graphic show it takes 40% of typical person's income to afford a house in nevada which is a place people went because it was so affordable. >> you also have rising interest rates over most of the past two plus years which seems not to have dented house price appreciation appreciable. >> we're not getting enough home construction which is why the two candidates want to accelerate home construction to ease that burden. but when you simply don't have enough homes for sale and you have this high demand from you generations coming in and wanting homeownership that keeps prices higher even if there are higher mortgage rates. of course we know the builders have bought down those mortgage

rates to get buyers in the door. someone buying a newly-built home might get a 5% rate while someone buying an existing home may be only to get 7%. >> diana, thank you very much. we appreciate it. still to come, the technical take on the 2024 race. which charts look best positioned heading into a new administration. "the market navigator" is next. 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. when it comes to investing, we live in uncertain times. some assets can evaporate at the click of a button. others can deflate with a single policy change.

savvy investors know that gold has stood the test of time as a reliable real asset. 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.

welcome back to "power lunch," everybody. a quick check on the markets right now. the dow industrials higher by nearly a percent, 368 points, 42,163. s&p higher by exactly 1% and the nasdaq is the winner in the bunch up 1.25% or 2 ta points, 18,405. consumer staples lagged behind the other sectors. second worst performer up just about 4%. but my next guest thinks it's due for a rebound regardless of who wins the white house. we'll get to that in a moment with katie stockton, founder and managing partner at fair lead strategies. let's begin with how markets have historically performed post

election. >> generally it has been a positive catalyst for the equity market, of course that's dependent whether it's in a bull market cycle or bear market cycle like 2000, 2008. of course now we're? a bull market cycle still, positive long-term momentum has benefitted the major indexes. however, what we notice is that often times the market would undergo a correct i have phase ahead of the actual election day. we have not really had that. we referenced the s&p 500. and that would suggest that maybe it's a bit more of a proof point for the market this time around in terms of its reaction. our anticipation is that we'll get this sort of positive near-term action but it could just be a knee jerk that gives way to some correct i have price action into year end. >> let's move on to the consumer staples area you want to highlight today. you say some of these stocks are moved down and showing signs of short-term downside exhaustion. i feel the same way actually.

sort of i'm suffering short-term downside exhaustion. why do you think they are positioned for a rebound and which ones? >> you know, the staple sector started pulling back in mid september. so it's had more time to reach that territory and we noticed a lot of the constituents of that xlp spider etf, have become oversold near their rising 200 day movieing averages. look at the charts of kimberly clark, general mills, procter & gamble, all the names you heard of. they're big heavy weights in this space. we think this would be a natural place for a rebound in this sector and at the same time the relative performance which has really suffered as you mentioned should rebound in kind especially if we do see some correct i have action ensue for the s&p. >> when you see this kind of -- well, when you are anticipating this kind of rebound.

what would the amplitude of such a rebound typically be or can you even say that? >> well, we can reference resistance levels on the charts to gauge upside potential. but in this case i would say it's more about time frame. so in terms of the time frame from the indicators that we're using here, we would say weeks not months. so something that's a bit more short-term in nature as a relief rally for this space. and that relative performance should kick in especially if we see corrective action. defensive properties behind the consumer staples stocks makes them do better. >> we appreciate your time. kelly, back to you. >> further ahead, as the biden administration winds down, which sectors had the best run during his presidency? energy is actually the winner. we have more when "power lunch" returns.

(cheerful music) (phone ringing) [narrator] not all multi-millionaires built their wealth the same way, you have... the fearless investor. the type a cpa. the bootstrapper. the bootmaker. yeehaw [narrator] but many do have something in common. we all trust schwab with our wealth. [narrator] thanks to our award-winning service, low costs and transparent advice. every day, over a million multi-millionares trust schwab with more than two trillion dollars of their wealth.

(intercom) t minus 10... (janet) so much space! that open kitchen!ver a million multi-millionares trust schwab (tanya) ...definitely the one! (ethan) but how can you sell your house when we're stuck on a space station for months???!!! (brian) opendoor gives you the flexibility to sell and buy on your timeline. (janet) nice! (intercom) flightdeck, see you at the house warming.

- it's something about having that piece of paper. some people think that's worth more than my skills. - i've run this place for 20 years, but i still need to prove that i'm more than what you see on paper. - you gotta be so good they can't ignore you. - it's the way my mind works. i have a very mechanical brain. - analytics and empathy. that's how i gain clients. - i am more... - i'm more... ...than who i am on paper.

♪ welcome back to "power lunch," everybody. at offices across america today, people are talking about their polling place, where the lines were long or maybe shorter or maybe there were no lines at all. let's get now to a polling place in a key swing state for a look at the scene there. nbc news correspondent julie sirkin is live in pittsburgh. what's the turnout been like, julie? and what have you sensed? >> reporter: well officials are telling me the turnout is way higher than they expected in some counties around pennsylvania, here in allegheny as well the turnout has far surpassed the total numbers they have seen in 2020. i'm at a specific polling site here in the northwest suburbs of pittsburgh. there have been a steady stream of people going inside. you see them behind me. this polling site is interesting because the bottom floor is houses one district. the top floor another. the bottom floor, that district actually went to president biden by just 16 votes in 2020.

the top floor to trump by 23 points. so just really a handful of votes that could make all the difference in this election. and allegheny county specifically is a blue island surrounded by counties that have trended more to the right in recent years. but this county, the officials here say mail-in ballots the total turnout that they expect much higher numbers now again than in previous elections. even college campuses nearby reporting high turnout there as well. >> i always try to choose the best candidate possible and sometimes change is needed, good or bad. depending on what party you're in but sometimes change is needed just to shake things up and keep things honest. >> reporter: so that's just one of the voters that i spoke to here. i have to tell you, after i spoke to him, he voted for trump but he did say he tries to identify which candidate would work best for him based on the election. for example, he's not voting republican all down ballot in every election. this time around he voted for mccormick for senate here who is

a republican. in past elections he supported bob casey. he just said it's time for a change. he evaluates his candidates that way. i also heard from suburban women a group of people that of course we have been watching here. one told me she's a lifelong republican who started voting for democrats once trump came on the scene. she said this time around she voted up and down the ballot for democrats specifically on the issue of women's health. and bodily autonomy is something that's important for her. other voters said their biggest concern is the economy, immigration. we hear that all throughout the state. i was in erie county a couple days ago, montgomery county a day later. getting a full picture of the state. bottom line here is voters are showing up to the polls and they are casting their ballots. participating in democracy, perhap even for some of them the first time they get to do that. >> julia, i have to say i'm not seeing long lines behind you there. i'm seeing some voters sort of trickling in and out. and so, i guess -- i take your word for it that the turnout is

very heavy. there have been no disruptions that you're aware of, no demonstrations that you're aware of, certainly it doesn't appear to be the case at the polling place outside of which you are standing. >> reporter: yeah, no demonstrations no, protests here, not in any other polling site i'm aware of in this country. we're keeping a close eye on all of them, but that doesn't mean that's not happening in other parts of pennsylvania. and that doesn't mean that the county officials are not preparing for legal challenges. something that they've seen, of course, after the 2020 election and specially in a state like p.a., which is critical to harris and trump, whoever wins that -- this state many experts say they win the entire gambit. they have seen steady lines of people at this polling location. right now it's 2:30 in the afternoon. you won't have as many people as you have before or after work. this morning a poll worker told my producer that they saw lines of people down the block, the parking lot was full. again, we're in the suburbs. we're not in downtown pittsburgh

where, of course, the lines are going to be a lot longer, more densely concentrated area especially with all those college kids around. >> excellent point. julie, thank you for your time today. hang in there. you have a long day ahead of you i'm sure. stay warm. meantime, kel? >> millions of americans like you say continue to cast their ballots. although so many voted early as well. that's so interesting about the big turnout today. investors are bracing for starkly different policies in trade taxes and investment strategies depending on who becomes our next president. one of our next guest says the sectors winners would be different under harris than in trump. you both can convince us and viewers, isaac, that it actually matters or works to try to bet on the sectors you think will do well under presidents when often the results are quite contrary. >> oh, i do wasn't to have to defend that, kelly. i don't think that's something that even tobin would want to defend. i think all we can try to do is

provide a little clarity regarding process. look, it's an uncomfortable fact but no one knows who will show up to vote and no one knows what someone will choose to do with their ballot once they pull the curtain behind them. instead, i think what we can try to do is talk through that separation of rhetoric and reality. right? and a lot of the things that we've seen from the campaign trail from both candidates are simply highly unlikely if they win the white house because of the corp. composition of congress and competing priorities. >> so it's gridlock. david teper said some version looked like the most likely answer and then you can kind of ignore it. >> look, from my side, i've made this point time and time again with clients n nine out of the past ten presidential elections, if you look a year later, the stock market is up. for an average gain of almost

20%. i think that's because the american economy can continue to grow and businesses can continue to grow and expand and within that, there are going to be acute winners and losers. and we can dig into that because there are certain areas that are going to be better positioned for under a trump presidency than a harris presidency. but by and large the american economy continues to grow and move forward. >> we'll come back to your thoughts on which sectors might be favored under each scenario. but first, let's turn to that with tobin marcus. tobin, what do you say here? you lean slightly toward a trump victory here. and so what sectors would do best under trump and which under harris? >> sure. first of all, just to follow on the question about gridlock, i don't think it's necessarily the case that we're going to have gridlock in congress. there's been a lot of assumptions even if trump wins he'll face a democratic house. if trump wins, my guess would be that he would have a red sweep

with the house going the same way as the white house. i agree with isaac's point, both of those two outcomes are tolerable. i don't think the markets will have a huge market wide selloff if either trump or harris wins. if trump wins, i think financials look like clearest beneficiary. parts of managed care we think do well in that scenario. traditional energy probably a short-term winner. and then risk i think for clean energy and tariffs -- for clean energy and tariff exposed industrial and consumer names. harris wins the opposite. those clean energy risks come off, tariff risks come off and you don't see necessarily the same benefits in terms of anti-trust and deregulation. >> isaac, your thoughts? >> look, i agree with all those

points. i would add a little bit more on the financial side. i think if trump wins, we're going to be talking very seriously about getting fanny or freddy out of conservativeship. on the harris victory side, i think, of course, we can make the argument that green energy is going to be a beneficiary. but i would also say that there are areas where i think you're going to see positive movement no matter who wins. i've been focussed on manufactured housing. we have a housing supply crisis in this country. no matter who wins, we'll have a focus on housing. that focus will lead to more support for areas like manufactured houses. they are even areas that i think are winners under any scenario. >> isaac, it feels like election day is the day i hear about private prisons in any four-year period. what has the performance of private prisons been like the

past four and eight years. >> sure. private prisons we don't cover either one of those, but those are companies we follow from the policy side. and they're volatile names in part because they don't have as much of a wide ownership base given some of the esg concerns. but that's one that we focus on with our clients in part because if trump does win, i think we'll have enhanced border security both at the border and internally on the immigration side and cxw and gio contract with i.c.e. and would be beneficiaries from those sides. >> their up today as well in the 2, 4, 5% in keeping with the trump trade we're picking up on this afternoon. >> tobin, last word to you. you don't have to like or not like private prisons by the way. >> sure. so i mean, i think that is an area where i would focus on what the congressional constraints are going to be. if we get a red sweep, there

will be an opportunity to do some big things on a party line basis and reconciliation bill that's how they take care of taxes. that's why ira risks need to be taken seriously. a lot of areas where bipartisanship is still required. funding of trump's wall during his first administration. generally year by year appropriations need buy in by both parties in congress. >> isaac, tobin, thank you very much. we appreciate your time today. have a good remainder of election day, 2024. speaking of which, cnbc will have live election coverage all night long and reaction from some of the biggest names in business. it all starts 57:00 p.m. eastern from the new york stock exchange. live coverage in the overnight hours as results pour in and we'll be watching asia and european markets and futures. squawk box starts early at 5:00

a.m. be sure to stay with us all night long. let's go to pippa stevens. >> elon musk will spend election night alongside former president donald trump. "the new york times" reports the tesla ceo plans to be at mar-a-lago tonight and will be among a small group watching the returns of trump. musk officially endorsed trump back in july and donated millions to his campaign. tap toll police arrested a man today who brought a torch and flair gun to the buildings visitor center. he was stopped during screening and smelled like fuel. the visitor center is closed for tours for the day as police investigate. amazon said it received regulatory approval to begin flying a smaller, quieter version of its delivery drone. amazon first unveiled the mk 30 in november, 2022. the approval includes permission to fly the drone over longer distances and beyond the visual sight line of pilots. the company is planning to ramp up the air deliveries in a city

west of phoenix. tyler? >> pippa, if you smell up at a federal site smelling of fuel, you're probably not going to get in. >> yes, i think that is a fair state. >> thank you very much. shares of astaire ra labs up 30%. revenue gain of more than 200% year other year. they make chip-based connectivity products and counts nvidia among its clients. we'll highlight some more big muirs of the dare when "power lunch" returns. yre when "power lunch" returns. e when "power lunch" returns. when "power lunch" returns. hi, i'm damian clark. i'm here to help you understand how to get the most from medicare. if you're eligible for medicare, it's a good idea to have original medicare. it gives you coverage for doctor office visits and hospital stays. but if you want even more benefits, you can choose a medicare

advantage plan like the ones offered at humana. our plans combine original medicare with extra benefits in a single, convenient plan with $0 or low monthly plan premiums. these plans could even include prescription drug coverage with $0 copays on hundreds of prescriptions. and medicare advantage plans ensure that your covered medical costs will never go above a maximum out-of-pocket amount that you know beforehand. most humana medicare advantage plans include dental coverage with $0 copays for covered preventive dental services. vision coverage that includes vision exams and a yearly allowance towards eyewear. even hearing benefits, including routine hearing exams and coverage towards hearing aids. there are $0 co-pays for in-network preventive services like annual wellness visits, mammograms, and prostate exams. and $0 co-pays for routine vaccines and telehealth visits. you get worldwide coverage for emergency and urgent care when you travel, so you

can have peace of mind when you're away from home. and of course, you should be able to see the providers you like. that's why humana works with multiple large plan networks of doctors, hospitals and pharmacies. so, get the most from medicare with a humana medicare advantage plan. you can have more coverage than with original medicare with $0, or low monthly plan premiums, and a yearly cap on your out-of-pocket costs. it's called medicare advantage for a reason. so, call a licensed humana sales agent today to learn more, and to request a free decision guide. remember, annual enrollment for medicare advantage plans ends december 7th. humana. a more human way to health care.

♪ welcome back. lots of earnings and headline movers. time now for a power check. first up, the card issuing platform marquette delivering wider loss. stock falling nearly 40%. deutsche bank, wells fargo downgrading the stock on the report. former high flier now under

$4 equity. palantir is absolutely surging, up 23% today on strong fourth quarter results. the company citing unrelenting ai demand, strong government contracts as well. the report showed very good upside but valuation shouldn't be totally irrelevant. this stock has tripled this year. now crypto currency rising as investors brace for the election. bitcoin reclaiming the $70,000 mark, just a little bit below it right now. many view a harris win as a threat to crypto. trump on the other hand is seen by many as a good force for the industry. elsewhere, nintendo profits plunged 69%. demand for the flagship console is beginning to fade and shares are showing it. morgan stanley live station is overweight saying it remains the preferred exposure to strong consumer demand for live events

and concert. year to date up by 25%. and stocks rise today, bond yield have been up as well. the bond markets are waiting for the election for the fed meeting for economic data out this morning that we also got. let's check in with rick santelli. what do you think is the key driver here today, rick? >> well, you know, let's start right at the beginning. the trade balance was bigger, it was a deficit. that's not good news. but, whether it was s&p global pmis or the ism pmis all regard the service sector were all above 50. what i really concentrated on was the services headline from the ism group at 56, that was the best since july of '22. so i would say that that is probably one of the key drivers. and as you look at intraday chart, you can really see that big rocket ship upward in yield at so:00 eastern when this data was released. if you look a little past that, 1:00 eastern, rates started to

come down because we had a very successful ten-year note auction. and i gave it a b as in boy in terms of demand. tomorrow, we definitely finish up with 25 billion in 30-year bonds. we're hovering near the highest yield since early july and one thing to note, supply around the globe is something to pay attention to. a very weak auction in the uk for their 10s put a lot of upward pressure here as well, kelly, on interest rates. back to you. >> potpourri, thank you. there's still time to nominate a 2025 cnbc change maker. the list recognizing women who transformed business and u vent.hropy yoha uil november 11th. and we'll be right back. ♪♪ ♪♪ ♪♪

♪♪ ♪♪ ♪♪ at state street, we know everyone's trying to get somewhere. ♪♪ take the next step toward your future, by investing in the s&p 500 with spy. getting there starts here. 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.

♪ welcome back. and take a look at the performance of tech stocks which have soared over the past two years while president biden has been in office. i'm sorry, over the past four

years i should say. energy has outperformed, though, up 109% during that period of time. pippa stevens here to break down what it means, pippa. >> yeah. pretty surprising because oil and gas stocks actually did not do well under trump and then they were the top sector under president biden, more than tha doubling. it is a reminder that whoever is in the white house does not actually control the price of oil or the drilling activities, but it is still notable, and there are a few key reasons why energy stocks have done so well under president biden. the first is that they were coming off a very low base, remember, back in april of 2020 wti turned negative for the first time on record. then we started to see an uptick in growth coming out of the pandemic which did boost demand. then we also have russia's invasion of ukraine back in february of 2022, which sent oil prices above $130, and then together with the war in the middle east, it has highlighted the importance of energy security. and then finally, these companies have really just created new business models.

i was told they've now focused on returning money to shareholders, growing down debt. now their dividends and buybacks are starting to look very attractive. the top performers is actually target resources in the last four years, up 462%. also marathon oil and marathon petroleum as well. also, diamondback and exxonmobil some names more than doubling. >> how have they done it when oil prices for the past, what, year plus have been flat to down? >> yeah, i mean, they've been smart about where they're growing. so they're focused on their lowest costs, production, they've also done a lot of things. these companies are so high-tech in terms of their sub-surface knowledge and figuring out how to get the most oil of the ground for the lowest amount

spent. think about pioneer resources, they can drill four-mile laterals and they're spending a lot less up front. they've figured out kind of what is the sfweet spot in terms of where is our break-even and because they have no much free cash flow, they can cover that and it's a whole new value proposition. >> people have said, be careful what you wish for, you might want a president that has more liberal drilling rules. if the stocks are down as well, it goes back to the shale boom, it was crucial for the existence, but very bad for the company. >> and exxon told us earlier this week he's not sure how drill, baby, drill, turns into policy. >> pippa, thanks. still ahead, more ways to trade the election, no matter o wins. a special election-themed three-stock lunch. ♪♪ well would you look at that?

jerry, you've got to see this. i've seen it. trust me, after 15 walks, it gets a little old. ugh. i really should be retired by now. wish i'd invested when i had the chance... to the moon! unbelievable. stop waiting. start investing. e*trade ® from morgan stanley.

the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo

welcome back. it's time for a special election day edition of, you guessed it, three-stock lunch. here with the trades and to do our honors, michael farr, chief market strategist and cnbc contributor and d.c. resident or worker, right, michael? >> i'm a d.c. native, a fifth-generation. grew up in washington. and i went to high school about three blocks from the capitol. they tried to beat some sense into me over the years. >> i just wanted to lay that background as we welcome you here to close us out for the day. so let's move on to some of the trades that you think could be relevant as the votes come in. we've just talked about chevron, pippa stevens just told us about energy stocks. which energy name do you think would be a buy or sell under the

next administration, why are you a buyer of chevron? >> you know, listen, i thought that was a really good report and i liked tyler's question about, jeez, with the price of the commodity dropping, how have they made money? chevron has a lot of resources and fields and they have gas and they're only really -- they haven't done very well this year, 13 times earnings with a 4.25% dividend. if we get into a period of a revived kind of expansion, the economy has been doing okay, energy prices tend to drift higher. so as things aren't cooling down in the middle east, i think energy prices are probably due to perform pretty well for the longer term, let's go next four years. they've got a great balance sheet at chevron. if you're getting paid 4.25% dividend per weight, while the diversifier for your portfolio does well, i think it makes

sense. >> let's move on to apple. bank of america out with a new note today reiterating its buy rating on that stock, despite the potential on the potential of tariffs for china under a possible trump administration. your trade on apple and outlook on technology more broadly, michael? >> you know, again, i was listening to mike santelli, i was listening to jason trenner. the idea that these huge mega cap companies are going to ride the wave, i don't think we've begun to really understand the full productivity from ai. i think that apple was the one i was asked to talk about today, one that i own. i would add to it. but this is not really a trade. this is a long-term kind of a core portfolio for me. i own it, we own it. up 16% year to date, okay, trailed the index of the s&p right now. 11% grower. again, $3.3 trillion.

i think those tech continue to do well, but i think everybody is off if we get a red or blue wave. we've got to talk about another stock. >> let's talk about tesla, i'm curious if you're a seller because of the election or just because of being michael farr. it's still in the green today even as we're seeing some strange behavior with shares of djt. tell me what you think about tesla and musk. >> i have to own by the numbers. i go to my discipline because i can't be emotional. and it bothers me when i see elon musk as emotional as he is. but, look, this has an $816 billion market capitalization, tesla. if you take ford, gm and stellantis together, that's $141 billion in market cap. it dwarves them. they sell 1.8 million cars versus 15 million cars. i don't see how you justify this

price. this market cap and continued growth. you buy it today and think it's going higher, i don't get it. sell it. >> sell it, he says. thank you for joining us today, hightower chief marketest. we should circle back to shares of djt. >> they were halted for volatility. >> they were headed toward session highs and they gave the gains up and turned negative. 4% is the last print we see. >> thanks for watching "power lunch." >> "closing bell" starts right now. guys, thanks so much. welcome to "closing bell." i'm scott whopner. the first polls closing in four hours' time. we'll ask our experts over the final stretch where best to invest right now, no matter the outcome. let's take a look at the scorecard with 60 minutes to go in regulation. majors have been strong all day long, off the best levels in some cases. nonetheless, positive by almost 1% o