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sitting this one out. >> it's been a nice run for those two. united health and newcomer sherwin williams among the biggest contributors to the dow. sherwin williams, known for its paints, but also in other areas as well. >> also contributing to the rally the president-elect's pick for scott bessent for treasury secretary. he's seen as, i don't know if we should see as less hawkish on tariffs. he got the job partly to advocate for that strategy to. >> what's interesting mr. bessent has back in history a connection to george soros of course yes. >> and that was viewed as a possible disequal cation. he overcame that. >> target stock shares down 16%. one analyst hoping for a turnaround. we'll trade this in three stock lunch coming up. target taking it on the chin, some people saying it's just as simple as they, they don't have as good a product, not as good of merchants as the walmart people are and not as prominent

in online sales. >> ken, any thoughts on the 5% rebound rally of target. that quarter was shocking. >> i agree. effectively they can't beat walmart. every time they miss earnings they have an excuse whether port strikes or weather or supply side. the bottom line, walmart has a better product and better e-commerce. >> they've got the 360, the grocery, the price advantage, the app, they've got it all. i don't mean to put everything into your lane this way, but has there been activism involvement in target or any time you see a stock drop 20% you have to think elliott is around the corner. >> there was a big activist bill ackman many, many years ago. >> right. >> and he lost the proxy fight. >> did he? >> and, you know, the stock got creamed. it was like the first special purpose vehicle he did. raised a lot of money an wasn't his best investment. >> that's interesting. so they have had -- maybe because that was such a high-profile incident, i don't

know if other firms would seek to -- >> it's so hard for like megacap retail or large cap retail to get an activist involved. >> why is that? hard to pull the right levers? a mix story? >> it's harder to turn around a bigger company. retail has always been an area that a lot of activists haven't been good at. bed, bath & beyond and kohl's. it's hard to do activism at big retail stores. >> rumors activists will swoop up nordstrom? >> well, ryan cohen, gamestop has a position in nordstrom, but it has a dual share class and not easy to just come in and do. >> gamestop and nordstrom, they just don't seem to fit together. i'm sorry. different clientele. >> gamestop and the other, chewy the other stocks he's been involved in, you know, motivate the masses to get involved and

nordstrom and kind of the antithesis of what he would stand for. >> this morning's record rally losing steam. markets are pleased with the nomination. scott bessent as treasury secretary. bring in meghan cosell lo. what do the markets find to like about this nominee? >>, tyler, i think there's a couple things at play. bessent appears to represent the combination of trades trump was looking for in his treasury secretary, with a deep familiarity with financial markets and ties to walmart but has a deep commitment to trump's economic agenda including on tariffs. they see someone who has experience in investment strategy and might temper some of trump's extreme policy impulses. take tariffs as an example. bessent has argued that trump's threats are a maximalist negotiating position not an end game. he did put out an op-ed celebrating tariffs. that came out amid fears he wasn't protectionist enough. he was calling for using them strategically. that's the same language that

biden and the democrats use on tariffs. on the debt and deficits bessent is worried about the deficit and why he got involved in the trump campaign in the first place. he believes the u.s. can grow out of debt. he'll push for tax cuts to spur what he calls an economic lollapalooza. solid questions about how he thinks about the fed's independence. bessent called for trump to appoint a shadow fed chair to challenge jay powell and did soft than stance but still said trump should appoint someone early and criticize the bank for its half point rate cut just before the election. see some balance here in some of the policy areas and bessent between what trump wants and what wall street most wants to see. that's the card he's playing and why markets are happy today. guys? >> thank you very much. appreciate that. mike santoli to talk about what he's calling the -- maybe you should set this up for us. what did they just say in you have a funny term for this

market rally. some are calling it the bessent rally. you think it's the mullet rally. explain. >> they can coexist. mullet, the hairstyle, the business up front, party in the back and this is struck me over the last few weeks not really today as much but the last few weeks, at how the core of the market, the s&p 500, if you're an index investor, everything neat and tidy. the market has been extending the uptrend it's been in, rotating rationally around higher growth expectations. the minute it got overheated after the election a few days later it started to cool off in this measured fashion so it just continues to color between the lines and really not really do any missteps along the way. now, alongside that, you've had this burst of high risk high reward action in things like crypto, everything happening behind bitcoin in this realm, but crypto related equities, leveraged etfs, long etfs that amplify the upside, record

inflows, record volumes. options in things like microstrategy, flying, the old kind of boom-bust stocks from 2021, a lot of those formerly unprofitable tech stocks are running like arc investment and, you know, baskets like that. what does it mean? i think what it means is after the election there was this massive tension release. the big cap quality parts of the market had already been elevated to some degree and there's sort of an open-ended you can believe whatever you want about what the future holds for things like crypto and risk taking and sort of interesting how that muscle memory kicked back in. i'm not saying it's hyper speculative and topee and we're already back to craziness like 2021, but it's running along the same tracks right now. >> so we have a case here, ken where it seems like animal spirits have been unleashed. >> yeah. i think partly because we know who the next president is going to be. we know the -- for the most part the cabinet, what the house and the senate are going to look

like, and i think there's less uncertainty in the markets. when you talk about the breadth of this -- >> how soon before this terrible biden economy that it becomes the great trump economy? >> i don't think that can happen overnight. you know, there has to be -- there has to be, you know, cutting taxes is not something that works right away. tariffs not something that works right away, if they work at all. we have to see how long it goes. but to talk, one thing about the britd of this rally people are talking about the small caps and mid caps in the last three months have outperformed the s&p by 500 basis points, but i think the next part of the breadth should be growth and rotation to value. over the last 90 years there's only been two periods on a ten-year rolling basis growth outperformed value during the great depression and internet boom. it's -- other than right now. >> right now which has been the case for some years. >> for some years and when -- so as a result we have the russell

1,000 growth, 79% premium over the russell 1,000 value, and when this has happened since 1995, over the last, you know, over the next five years of value stocks have outperformed growth stocks by 12% annually. >> people are always afraid of being burned on that because they would wait -- >> been waiting. >> if you torch the data long enough it will confess to anything. maybe directionally this is something interesting to look at. >> to your point since july, this is something stephanie link and others pointed out, mag seven ex-tesla slightly negative since that period of time equal weight s&p is up nicely. if there is rotation, i don't know if we call it value but something like that going on. >> absolutely. >> mike santoli final thought here. >> obviously, the scene was set for something like that. one of the pendulum swings back toward value, equal weight, small caps. the one thing i would caution, though, if you look back to those periods when finally those trends reversed and looks dramatic on a chart on a

relative basis because growth stocks collapsed. not because value stocks did wonderfully in value terms. small versus large in the early 2000s, small held its value because it under performed for a long time but only looks great on relative basis because the s&p got cut in half. >> how should investors position ahead of the short trading week. we're in it. the markets turn new record highs. jeff killburg has thoughts, cnbc contributor. jeff, come at us. you know, where are you most in line with the market and where are you most out of consensus? >> first, hats off to producers it's no mystery i am the first guest on after the mullet rally because i had an unbelievable mullet back in the day but my dad made me cut it before i played football for notre dame. what santoli and ken were talking about, the constant debate between growth and value in timelines, it's been interesting. we've seen fits and starts and here we are today with a new record high, the s&p 500, above

600 and the spy above 6,000. we talked about this a week or two ago. the air is thin above 6,000. this is going to be healthy. we're in a thanksgiving week where volume is lighter, but i think the rotation trade is getting going and makes a ton of sense. as you see profit taking, this isn't catastrophic. when you look at the top ten holdings still at 35%, those top ten holdings in the s&p 500 have to be reset not back to its 50-year average down at 21 % bu makes sense in the profit taking. even meta is down today and that's interesting to me because you're seeing some of the blue chip names get bought off of that profit taking. the money not going out of the market. we've had three consecutive record weeks of inflows of equity inflows in the u.s. equities and i think it's going to continue to rotate. >> what do you think about this rotation? are you heartened by that? >> i am. i mean as the manager of the essential 40 etf, you know that

some of these names we love and own we actually own them in an equal weighted manner. if you look at the unloved name, cme group should do well if we continue to see treasury yields oscillate. there's an ibm, there's a waste management. the only time you hear waste management is when you talk about the phoenix open and how many cocktails they're selling. if you look at energy which has been perplexing all year, i think if you look at a leader like exxon i think i want to own these blue chip tangible names and adding to the position. we own all four in the ticker esn, but i think you will see this rotation amplified as we go into q4 because people are getting concerned about how nvidia has been back-to-back 200 plus years so that's where you can see profit taking. don't exit the position but bring it back down on equal weight. still want to own these names but it has to rebalance >> maybe show a five-day chart of nvidia positive after earnings but something of a soft

patch. i want to go back to something you said a moment ago tariffs and tax cuts and how these take time, but i'm seeing a little bit of this kind of thought going out there now that what if next year is the worst year than people anticipate. look at the end of the day, cutting money from the government is austerity in the short term is a problem for growth. tariffs. the fed may not cut rates that much more because inflation is sticky. you could paint a picture in six months time where things don't look that great. >> you mean the stock market? >> maybe the market is pricing in euphoria. what if the rally when we turn the corner in 2025 is different? >> remember back to 2016 through 2020, donald trump did whatever he could to keep the market up. judged himself more than any other president on how the market was doing. >> there were times he would send a tweet out about tariffs and down several handles without hesitation. he wouldn't correct that immediately. >> i'm hoping despite his partnership with elon musk his

tweeting is a little to less frequent this term. >> what do you think about that? again to go back to okay, it's -- and by the way, everyone here knows when a new ceo takes over a company what do they want to do? crash the stock price. so by the end of the term, they look like they're doing well. you don't want to come in with -- you want to crash the thing and maybe by the end you go now we've righted the ship. >> optimism since the election is representing the market but the one catalyst which could revalue the marketplace specifically the equities is interesting. the fed's lost control of the long end of the curve and when you continue to see them reissue, we were excited to see scott bessent because that's where yields are dropping by the way, but at the end of the day the bond holders and buyers are going to dictate and determine where the yields go on the long end of the curve. i do see with all this issuance i think you're going to see yields move higher and keep a lid in my opinion short term for the next month two or three because these policies you talked about, the trump trade, these policies a lag effect.

nothing is implemented on january 21st. that's why the market has to digest what's real, what's not, marketing during the campaign and tangible and implemented in the next year two. >> all right. gentlemen, we'll leave it there. what do we think? >> i have a great picture of a mullet. i will send that. >> i thought you were going to turn around because i have one. thought you were hiding one from is this whole time. >> amazing. >> jeff killburn. >> president-elect trump finishes building his team experts trying to anticipate what key issues the administration could face. one that has been on the back burner is cyber security. growing power of ai with global unrest and conflict, not to mention crypto, could open the door to more scribe threats. -- more cyber threats. we'll discuss that next.

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welcome back to "power

lunch." new headlines crossing about starbucks. the coffee maker deal with the fallout of a ransomware attack on its software supplier disrupting the ability to pay baristas and inning their schedules. our next guest warns ransomware attacks could get worse next year. david kennedy, founder and ceo of trusted sec, information security consulting firm. ken still with us. what do you make of this attack on a software supplier to starbucks that fits with your thesis we're going to see more and more ransomware attacks. where are they coming from and who are the likely perpetrators here if you are likely to hazard a guest. >> >> this is a third company company called blue yonder that provide management to some of the largest distribution companies in the world, walmart, they're integrated into everybody and they experienced a massive ransomware attack last week and still down as of today.

rumors are that they're looking to pay the ransom and try to recover which would mean they're not able to recover from the backups. probably a substantial and significant breach to where they're not able to recover. you see what we call supply chain attacks where you're targeting software that is used as kind of the core critical infrastructure of a lot of large companies and it's what we call one to many. able to impact hundreds of not thousands of customers across the world creating an opportunistic pain point the companies have to pay the ransom to recover back. that's what we see from the larger organized crime groups more sophisticated in nature. may only pull off three or four large heists but so many groups it seems like it's happening every day. they're going for the bigger targets, larger organizations that can be a once in many supply chain attacks that cause outages or issues with the big companies like starbucks, so that they can get massive payouts. >> many companies are paying

these ransom requests as ken points out, they are often paid in crypto currency. would ransomware attacks be as numerous and severe if not for crypto and you had to do it another way? >> not at all. when you look at what the fbi used to do to go after these groups they track the money through money laundering and things like that which a lot of that ability has gone away with crypto currency. the ease of payments, the ability to go and make those payments and for that to be kind of essentially funneled to accounts become hard for groups to do. no real governance or ability to recover the funds has made it a very opportunistic way for the groups to, you know, facilitate those payments. i'm not against crypto currency in any way, shape, or form but it has facilitated these groups to get these payouts in mims lls of dollars. caesar paid $14 million. larger ransomware payments paid

out. that would not have been but for the birth of crypto currency. >> in the "wall street journal" where amazon's head of cyber security are identifying 750 million cyberattack attempts per day up from 100 million six months ago. what's behind that? >> they're making so much money out there right now. look at the demographics of what we're dealing with. nation states, so reportedly all the telecom companies, verizon, at&t, t-mobile, i think t-mobile had six or seven data breaches over the past years. the larger ones china was able to infiltrate at&t and verizon and record millions of calls and had massive, you know, access to call recordings of sensitive private communications between governors and senators, white house officials, they hacked trump and vance phones conversations from that side. you have nation state demographics that are successful

with these hacks. the ransomware groups making so much money it's a bubbling field. like i.t., ai, cyber security is a bubbling field and the crime ware side, the organized crime side ransomware pays out a lot of money. these folks can make a lot of infection partnering with the other groups and getting more sophisticated cyber weapons and, you know, you see this type of elevation occurring all across the board. there doesn't seem to be any slowness. if you knock out one or two groups, five more coming in their place. it's a massive problem we're dealing with. >> ken has a question for you. >> david in the same article that kelly mentioned it mentioned amazon has i think sight line to 25% of the isps in the world. and that they're working with government a little bit better now to help fight cyber attacks. how important is it going forward especially in the trump administration for them to work with these large companies like amazon to help work as a team to fight cyber crime? >> it's extremely critical for

these organizations to communicate, to talk to one another and have larger organizations do more. you know, as you know a lot of companies have moved to cloud predominance a across their infrastructure so they're using aws or microsoft azure, leveraging google cloud. the companies have, you know, really a sense of having to try to protect these other organizations that are in their tenants as well as the companies themselves that have to secure themselves as well as the government that has historically not done a very good job of protecting its own infrastructure. collaboration makes a big deal. if you look at the cyber security infrastructure agency tasked with protecting a lot of critical infrastructure risk over 85% of critical infrastructure is private sector owned and pretty legacy systems. it's never more important today for that collaboration to occur on the private and public sector to come up with a really good strategy on protecting its organizations that it protects in those clouds structures but across the board glue let me ask you for a quick answer here.

those who hypothesize the trump administration will have better relations with putin than another administration might. if that comes to pass will cyber crime from russia decline materially or not going to do that? >> so cyber is very much used as a bargaining chip. i think what we'll see is a little bit of an elevation initially as a bargaining chip for saying, hey, we'll also throw this on the table work and die down on the cyber efforts on both sides by the way, you know, our cyber folks, you know, on the nasa and everybody else are launching attacks to other nation states. china has been very active over the past year going after critical infrastructure. these are bargaining chips that will be played and used in negotiations for ukraine, negotiations as we start to talk about tariffs and other areas. if you look at the most famous one in 2015 with obama, we had a kind of cease-fire on cyber for a few years and that was used to essentially retool china and going after russia in a heavier state now. i think we will see a reduction

as a bargaining chip in the future for sure as negotiations occur for ukraine and other areas. >> it comes into all kinds of negotiations in ways we might not have anticipated. david kennedy, thank you very much. >> any time. >> trusted sec. coming up, a new edition to the s&p. texas specific land is getting added with the name up 219% this year. are there any other mid cap energy plays worth watching? we'll explore that in market navigator next. [inner monologue] this is going to sound crazy. but i know these attack vectors. oh, had a little upgrade have we? ♪♪ okay, so that's how you want to play. ♪♪

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welcome back to "power lunch." we had a strong rally this morning that has moderated somewhat. dom, we were up how much on the year? >> over 500 for the dow and then up roughly 51 points for the s&p 500. >> still green across the board. 0.9 rally. the s&p up by 12. we're looking at adening out. one sect has been the energy sector, wall street does at least appear to be pleased with president-elect trump's pick for treasure secretary.

scott bessent plan to cut the deficit by 3%, achieve 3% economic growth and add 3 million new barrels of oil to production. what could that mean for hall by burton? our next guest mike koh at open interest.pro. we talk about the energy trade often. what is attractive to you about oil field services and specifically halliburton and why this trade? >> well, i mean we take a look at, you know, scott bessent's plan you were talking about that's a material increase in u.s. production. i would point out we're already at the highest production we've seen in the united states. we're producing well more than 20 million a day equivalent right now with the largest producer on the planet and, of course, if oil prices continue to stagnate or go lower it's hard to see how the industry is

going to want to increase production under those circumstances. if you are going to see an increase of 15% or so, then, obviously, that's going to increase demand for oil field services. halliburton as you point out one of the largest in the united states. schlumberger number one, halliburton has more exposure to north american land oil services specifically, and, obviously, you need to see some big increases there to achieve bessent's objectives. >> so what exactly then is the trade if we're looking at this particular oil site, you know, this whole construct for it? what exactly do you do with this particular action? >> yeah. s so one of the things we have, obviously, seen is that right after the election, the whole space got quite a big pop. if you take a look at names where halliburton were trading prior to the election and now, we've seen a little bit of a rally. i think the idea here is if you're going to try to make a bullish bet you probably don't want to take immediate exposure at this level. i was looking at buying the

longer dated call such as at the money call going out as far as april, 32 strike call and then because i doubt a whole lot more is going to happen between now and the inauguration, looking at selling some near dated premium to offset the decay. you could, for example, sell a december 30, selling the downside puts at the 30 strike and selling the upside calls. now that would mean that, of course, you have some risk of being put the stock, that you would own the stock at 30 but, you know, that's getting closer to where the stock was preelection rather than where it is trading right now. so this is a way where you can essentially get some upside exposure offset some of the decay and if you are put the stock you will own it at the preelection than the higher price where it's trading. >> mike with a trade on halliburton, thank you very much. see you soon, sir. >> thank you. >> interesting way of chipping this up sell the strangle. exactly. >> collect the premium and

better if the stock doesn't move at all. >> that's what i was going to. >> i keep the premium to offset. >> you look at the chart $35 is the sweet spot. as we've seen with oil prices you could get downward pressure on the price. >> just not short term. longer term yes. that option strategy is an interesting way to play it. >> like a see saw. >> there you go. >> tyler. >> thank you. coming up regulatory scrutiny might not be easing up on google. we'll trade that numbean he in a turbo charge. three stik lunch.

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welcome back. i'm seema moody with your news update. special counsel jack smith filing to drop his federal election interference case against president-elect donald trump. the justice department has a long-standing policy that bars prosecution of a sitting

president. the classified documents filing however does not drop charges against trump's two co-defendants his valet and the mar-a-lago property manager. the california brothers convicted in the high-profile 1989 murder of their parents are appearing virtually this afternoon in court. a judge hearing arguments to determine if a resentencing hearing for eric and likely menendez should remain on the calendar. their attorneys want the judge to consider new evidence of their father's sexual abruise. >> formula approved general motors as a team on the grid. it ends a year long saga that saw the justice department launch a probe into the sport. the team will use ferrari engines until gm's cadillac builds its own engine for competition by the 2028 season. back to you. >> very interesting. big race in las vegas this past weekend. deluxe three stock lunch. stories on three stocks making

head lines and the trade on each one. david trainer ceo of new construct. alphabet, closing arguments today in the department of justice's case to break up google's so-called monopoly on search. eamon javers has a little bit on that story for us. >> hey there, tyler. closing arguments have closed here in the eastern district of virginia and alexandria, virginia. the google lawyers leaving, they were pretty confident as they came out of the courtroom today. you see smiles all around. lawyers dismissing the doj's case saying in a conference call with reporters it was just a lot of rhetoric from the department of justice today. a couple points that i want to plag for you that each side made. on the department of justice side they said all but one of google's live witnesses are paid by google and they said that the witnesses they've called not on the google payroll. they said the last look provision inside the auctions in which google gets to look at the price and decide if it wants to

bid at the very end gives google an unfair informational advantage and the court should draw a negative inference from google's destruction of internal communications near the 24 hour expiring chat and shifting conversation in that direction. they said that's an indication there might be more negative information that we can't put our hands on. as for google's closing arguments, they said prices are falling in the market, quality going up, publishers are making more money so what's the problem here. they said the rest of the industry is growing faster than google, its share is going up but not as fast as the size of the industry is going up. history, both sides debating this point looking at the big antitrust cases of the past back to standard oil at the beginning of the 20th century. at&t and microsoft arguing that those guys had historically had much higher market shares before they were broken up by the government saying if you want to compare us to them this case doesn't meet that standard.

so a fascinating set of arguments here today, guys. they expect that the judge will make a decision by the end of the year. back over to you. >> very interesting. eamon javers thank you very much. david, a quick trade. buy, sell, hold? >> we're a hold on google. we think this is not the end of sort of the regulatory warfare. feels like forever now that the regulators have been out after google. one of the best businesses of all time. super high return on capital at 46% now. and we know google has been a great innovator. the valuation doesn't leave much upside left. we think given the regulatory overhang it's better for folks to stay on the sidelines of google. >> fine. move to target with oppenheimer naming the stock a top pick, too attractive to ignore at current levels. the shares cratered after its biggest earnings miss in two years. courtney is here with the run down. >> after a long running streak during the pandemic target began to put up inconsistent results.

several quarters including this most recently reported one from its own missteps not a reflex of the broader consumer. the retailer had trouble matching inventory with demand, ordering too much and then slash prices to move it to making a series of costly moves to bring merchandise early or in different ways than originally planned, to circumnavigate what ended up a short lived port strike but cost them. shoppers have been discerning after pandemic buying when buying more discretionary items where target's core categories lie, but oppenheimer is betting on its ability to turn it around adding target to the top pick list and thinks the worst is behind target but the stock has it priced in plus some. he likes what he sees in the stores for holiday and thinks the retailer can hit its guidance and believes in management's ability to get back to sales growth. i don't know if david agrees. >> you're at bat, what do you think?

>> i agree. one of the things we like most about target is that the executive compensation is aligned with the return on investment to capital. always a good thing when we see executives making sure they only get paid when shareholders are getting paid. that's better than what we see for adjusted ebitda on the other executive performance metrics much worse. i'm very much in agreement. i think the stock looks cheap here. they've got great intelligent merchandising, very dynamic. i think target has a lot of upside left. >> let's get a thought from you. >> i agree it's very important to align executive compensation with shays but i will channel what carl icahn says on that topic if you -- the yankees hired me and paid me $1 and a million dollars for each home run i still wouldn't hit home run because i can't hit major league pitching. executive competence is more important than executive compensation. >> final name is eqt. morgan stanley, hiking its price target citing bullishness for nat gas prices.

pippa stevens has the story. >> eqt is one of the few bright spots in the energy sector with morgan stanley saying they expect the gas retailer to reduce from $13.7 billion to $7.2 billion by the end of next year meaning the company could resume buybacks in 2025. eqt has reversed prior gas curtailments and announced $3.5 billion mid stream joint venture with blackstone that will see the asset manager take minority stakes in eqt's pipelines. the biggest driver is perhaps the jump in nat gas on pace for its highest set until more than a year on forecasts for colder temperatures and record amount of gas flow to lng facilities. bank of america saying winter is now the key price driver for nat gas and that despite price weakness demand is at an all-time high and reduced production should support prices into next year. tyler? >> thank you. you cannot postpone winter, david. what do you think here?

>> [ inaudible ] we're bullish on a lot of energy stocks but not eqt. they've destroyed a lot of capital here in the last few years. been really aggressive with acquisitions paying top prices, free cash flow has suffered. that said, you know, we're more hold than we are sell because look if they can put this sort of fully vertical integrated nat gas production into place that would be a good thing. being bullish on the energy sector we can't say they're not going to do it, but we wouldn't be aggressive buying the stock here. management to the prior point management has not shown great capital allocation up to this point. even if they were paying on roic i don't know if it would be a good thing. >> david trainer we appreciate it. >> thank you. >> thrift shopping helped reduce waste giving clothesing a second life en can the same be done with furniture? we'll find out next. confusion about the cost of care and how to afford it.

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sent! okay, oop! even bigger. sent. [sending swoosh, notification alert] still bigger. okay, yeah i'm not doing that— [typing noises, sending swoosh] i think it still looks good! [notification alert] oh — even bigger. welcome back. posh mark, thread up are thriving in online thrifting giving used clothing a second life. but what would be the impact if the same thing done for furniture. diana olick has details in her series on climate related startups. diana. >> tyler, furniture waste

continues to carbon emissions. in the u.s. alone we throw out roughly 12 million tons of furniture leaving it to rot in a landfill and most of it is less than 15 years old. recycling furniture can be difficult, mostly because sell and moving it is such a pain, but what if it wasn't? bought her dining room table, tv console and head board from ap deco where people can buy and sell their furniture. >> the world is on fire literally and anything i can do to reduce my footprint in the world is what i'm trying to do like an in all aspects of my life. >> reporter: provides pick-up and delivery for the items which sets it apart from competitors like craig's list or facebook marketplace. apt deco works with west el m and pottery barn to sell floor

items or resell items that have been returned. >> extending the life cycle of furniture overall it's better for the environment whether it be less wood chopped out of forests to just the supply chain associated with producing that furniture. >> reporter: while the furniture sells at as much as a 50% discount to new the service comes at a price. >> we earn a percentage from 15% to as high as 60% depending on the product, the brand, the condition and a lot of different variations that go into it. >> reporter: the company operates everywhere in the u.s. except alaska and hawaii. investors say its carrier network across so many markets makes expansion potential very attractive. >> contributing to the circular economy through their low gistings business is a great example of the types of climate adaptation companies that we see as having longevity in the next phase of climate tech. >> reporter: in addition to

initialized capital, apt deco backed by comcast venture, great oh venture can't and soma capital. total funding $14.5 million. >> and in the ten years since its launch apt deco ceo says the company has offset over 19 million pounds of carbon dioxide from the environment equivalent to around 6.5 million cars off the roads. back to you gase. >> hardest part getting someone to get it out so big and heavy. not just a sweater to throw in a box. thank you very much. >> exactly. >> diana olick. bond yields are down sharply on the longer end that is. that inversion. 4.26. we've continued to move lower down almost 15 basis points on the bessent rally now. rick santelli has more after a break.

nate jones... lines things up... checks his fidelity app... looks to outside analysts to get a second opinion. nate likes what he sees... and he places the trade... talk about easier investing. back to "power lunch." stocks are heading back towards session highs right now with the dow up 415 points on part of optimism about scott bessent being named as treasury secretary and that pick is contributing to bigger moves in the bond market. 10-year yields down 15 basis points. rick santelli has more in chicago. rick. >> you know, there's an old

adage, markets only go where they feel comfortable meaning that, obviously, the pick for treasury secretary had an influence on the market. and it had an influence on 10s around 4.5%, natural resistance. it didn't mind getting pushed. big moves. right now a two-year down about 11 basis points, 10-year down 14. look at intraday of 2s. you can see at 1:00 eastern the rally continued to push yields down really strong demand at the two-year note auction. two days in a row on twos you can see the right side is so much lower building momentum to the downside and market gives a lot of the selling back in one session. and if you look at 2s and 10s on the same chart since early july which is where the 10s were until we started to see yields reverse you can see the 10-year was a bit more aggressive and that does go along way to explain the next chart. we are on the 2s, 10s spread in negative territory and dealing with basically a loss of 15

basis points now the question is, where are long rates going to grab once the news of the day passes through? tyler, back to you. >> mr. santelli, thank you. you can hear us on our podcast follow and listen to "power lunch" wherever you go. e dct.get should be listening to whev erer.s we'll be right back.

welcome back. time for a power check. bath and body works popping after beating on earnings. good news following a rough year. still down 16%. >> wow. macy's meanwhile is falling after delaying its third quarter results. this is a head scratcher. the company discovered an employee intentionally made incorrect accounting entries resulting in massive problems going into earnings. the shares down 2.5%.

>> morgan stanley upgrading robinhood to overweight from equal weight. the firm saying hood is the biggest beneficiary of the election results primarily because it can participate more aggressively in crypto and new crypto era may be dawning. >> brings us to casavas, plunging. this drug aimed at treating patients with mild to moderate alzheimer's. >> cnbc reporting intel and the commerce department close to finalizing a roughly $8 billion grant to support a manufacturing expansion. in recent quarters intel has looked to raise cash by selling off assets and faced a possible takeover bid from qualcomm. >> which brings us to final thoughts from ken squier. >> thank you. we talk today about the broadening of the market rally and rotation from large cap and mid cap and growth and value. which is encouraging. i think the rotation in order to be a full rotation we need to start seeingy

come into index fubds funds but actively traded funds. $300 million is allocated to the top ten stocks. the bottom thousand stocks get $5 million spread over the thousand. >> you sound it will get half a percent of the allocation. >> we have to leave it there. thank you so much for being with us today. thank you for joining us as well. closing bell starts right now. hi, kelly. thank you so much. welcome to closing bell, i'm scott wapner here at the new york stock exchange. this make or break hour will begin with record highs for the stocks. with the dow and s&p hitting the new milestones earlier today. let's take a look at the score card here with 60 minutes to go in regulation. we are green across the board. the russell is actually the outperformer today. it's been up nearly 2% sitting right about there right now. most sectors today too are green with the exception of tech and energy. utility has been fluctuating a bit. we'll watch all of that. markets are clearly liking