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her mathisen. we're joined by ser rat sethi. stocks lower across the board today. the dow down for the ninth straight session. the longest losing streak, hard to believe, longest -- >> can you believe it? >> i can't. since 1978. the s&p and nasdaq, broader indexes, they are still just off their record day highs. >> eight-day losing streaks one in 2018. it's been 50 years. >> 1978. wow. >> yeah. >> i wasn't working in this business then. that's a long time ago. >> it is. unitedhealth is a reason for that. why the bifurcation between the dow and nasdaq, unitedhealth down 20% off this nine-day stretch accounting for more than half of the dow point losses down 3.5% today. we're a little bit later on on the program going to be joined on set by delta ceo ed bastian. eight times their p/e ratio. so much to talk about with the

state of business, travel consumer, ask him about the drones. >> do airlines need to be worried about them? and bitcoin topping $107,000 today. so does bitcoin have a place in the portfolio of a long-term investor? we'll tell you what financial advisors are telling their clients >> it's been a frustrating point for them as it keeps climbing. 106,000 for bitcoin today. all right. meantime we start with the fed, as we are less than 24 hours away from the final decision on interest rates of 2024. check with our mock fed panel. five of our seven panelists voted for a quarter point rate cut, but don peebles is out there, as he has been for some time now, voting for a half point cut. roger ferguson voted no change at all. so will there be a similar sort of dia spora or dissension on

the fed? markets will be listening closely to the press conference to hear what chair powell telegraphs about the next meeting coming up in january. let's get some insight from peter, chief investment officer of bleakley financial group. i assume you're in the quarter point camp here, but what people will be listening for is the idea of whether the fed is going to pause in january. do you think they will? do you think they should? >> so i am not a 25 basis points cut. i think they should wait. not because i don't think that the economy may need more rate cuts. i just think that there is such a cloudy situation when you try to marry the economic data they're looking at, those who they are restrictive for and those that they are not restrictive for like the markets, for example, and i think reconciling in that right now is very confusing. one thing that jay powell told us before he started cutting rates in september he needed

confidence that inflation was not only just coming down, but was going to sustainably stay down. i don't see how he has enough confidence to say okay, let's cut rates again, which would be 100 basis points since september, rather than maybe bringing in more information, particularly on the new incoming administration's policies on taxes and tariffs and then wait until january. they're going to cut ahead of that information which is hugely important for the economy over the next couple years, i'm not sure why they're going to do that. >> but let me just mention something that one of our guests yesterday said and that person said fundamentally that that's not a bad posture to take, that they shouldn't cut, but that the market isn't prepared for that. that's not what the fed has been signaling and if they don't cut it will be a real upset in the investment markets among other places. >> they will cut because the market has essentially bullied them into cutting. they're not going to bypass

that. it will be interesting to see if michelle bowman dissents again, and i doubt we'll get a second dissent, who know, particularly with the voters this is their last meeting before they become alternates. they will cut because the market has basically priced it in and they're not going to go against that. >> even though i sympathize, i still hear the intellectual case made, people like paul mccauley on yesterday said to him, why lower? if you just look at the facts why lower? because you still want to help the positive. looking out six to 12 months, you want to get closer to where neutral might be. so i think there is a justification that they are making -- whether it's accurate or not, time will tell. >> i think the messaging will be important. 25 baked in. i agree with peter. if you didn't have a new incoming president, i think you would have probably stayed where you are and the message we're ready to cut, but we need more information.

the market will not be prepared for that, and i think you don't want to -- so it's like a lose/lose. don't cut the market will get upset and if you cut the market will say why did you do it? you're doing it even more for political reasons -- >> if it were political reasons why not rate and keep your cuts as ammo for the new administration? you think they're openly trying to defy trump and raise rates to appear independent? >> trump said we need rates to be lower. >> why not wait? >> you might give him ammunition to say you didn't cut, you need to cut way more next time. we said we're going to do this and wait for the information. what will be interesting in the messaging going forward, tend to be hawkish in their message the markets will not like that either. tomorrow will be an interesting day on what happens to the yield curve and what happens to the 10-year and equities and where do we go? >> are there numbers in the numbers that worry you?

>> let's use the word restrictive. a lot of members like to believe that. for a certain part of the economy they are. if you're paying interest on your credit card bill, true ig to buy a house, small business paying 9 to 10% to borrow money, yeah, you're pretty restrictive. there is a party going on in the markets. there's no restriction whatsoever with respect to monetary policy and what's going on in the markets, particularly credit spreads and the valuation in the s&p that is approaching march 2000 highs. so it's restrictiveness in the eye of the beholder right now. but i want to get back to my point that yes, i think the economy may need some more cuts, particularly the pace of hirings in the labor market has slowed. if the fed reads their own beige book sounds like an economy growing 1 to 1.5%. no correlation between reading the beige book and 2.5 to 3% gdp number. but all this is confusing if you put it all into like a bowl here to try to figure out.

that's why i think the fed should wait also the fed should be listening to the messaging that the long end of the bond market sent them with the 10-year yield being above this 4.25 level. throw out the 4.25 because it's half of the 5% on the upside to 3.6% on the downside that we saw a few months ago and also we have a new administration. i'll say this again, who is going to have tax policy and tariff policy. don't we want to wait to see what this looks like before we move again? >> but isn't that the theory here, that they will wait in january? they might wait in march. they might not cut again until deeper into the next year. isn't that the wait? >> yeah. if they do, they will cut tomorrow and the bond market only pricing in two more cuts, only 50 basis points more, which over the past call it six months the market had taken away an

additional 100 basis points. the fed funds futures in the december contract we got down to 2.80 a few months ago now it's 3.80. i think the bond market the long end is telling us that -- >> what is your thought about the 10-year? >> tips, break evens that have risen of late, food prices near an annual high right now that this path to not only just 2 and staying at 2, you know, is becoming much more bumpy. if i'm long the 10-year, i don't want an easy fed. i want a fed that's tough against inflation. it's not just the u.s. 10-year, it's rising rates in the uk, the uk 10-year gilt yield closed at almost a one-year high, the boj if they don't raise rates this year they will in january. this is a global bond bear market. >> except for china. >> final thoughts. >> i think the other thing to

add to that is what's going to happen with the budget deficits. >> totally. >> the 10-year is going to reflect that especially if we get tax cuts and things to grow the economy but they're going to be taking away from paying down on our debt. we have to watch the 10-year. >> see rat, we had binky chad da who has a 7,000 price target on the s&p. what is your kind of base expectation for stocks? >> i think we're going to get the big seven, fab seven, doing the hard work again, but we really do need what i call the soldiers to start doing well and we haven't seen that. you've seen the equal weighted s&p down in the last two weeks, close to 3.5%. so it's going to be really bifurcated because your valcation wayses will get skewed. you have to have the rest of the stock market come -- >> the rise of the rest. >> yeah. >> peter, thanks very much. staying with us for the remainder of the hour, some day you'll graduate to stay with us

for the remainder of the hour, peter, i guarantee you, serat. >> we'll do that, i promise, and it's in the new year, watch. just watch. >> thank you. >> we're fed all hour long starting with the interest rate decision at 2:00 p.m. here on cnbc right up to fed chair powell's press conference that begins at 2:30. you've been through this drill and know not to miss it. 2:00 the decision 2:30 the presser, that's the story. >> fireworks one or the other. after the break joined in studio by delta's ceo ed bastian, holiday travel demand, future of flying and topic on everyone's mind drones. "power lunch" is back after this. you founded your kayak company because you love the ocean. not spreadsheets... you need to hire.

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here to discuss all that and much more is delta airlines ceo ed bastian. great to have you with us. phil lebeau joining the discussion to help us guide things as well and sarat sethi is also still with us. ed, maybe if you kick things off by talking about what you expect for 2025, the years of the taylor swift kind of revenge travel are over. your shares have reflected kind of a nice recovery in some of that. what does next year hold? >> we live in the experience economy and the experience economy is healthy and sound as you mentioned, whether it's the taylor swift concerts or going to restaurants, finding new places to travel and explore. we saw over the thanksgiving holiday our strongest travel we've ever seen. saturday, sunday, monday of the thanksgiving break we're three of the ten highest revenue days in our history. >> wow. >> monday being the highest revenue day in our history by 20%. and so all that is going into a strong holiday period and seeing that in our bookings and '25 looks healthy. >> by 20% that's incredible.

>> i believe monday was your highest day i was at newark at 5:30, my son getting on a delta flight to indianapolis. >> my siblings won't come because it's too busy. >> can i switch the gear because it's on the top of my head. we had a tragic shooting of an executive last week in manhattan as you surely know. i wonder if and how that has changed what you do, how you are protected? you're a very public ceo. you've been generous to come here on cnbc many times. people recognize you. have you done anything differently? and how are you, your board, and others prioritizing security in a different way today? >> you could have been in our board room last week. it was one of the topics of conversation with our board and you're right, i'm very public. i don't intend to change that. but we have to be smart with what's going on. so i travel on our airplanes. i don't have private security

following me around. i don't have a driver. all those questions are coming up in terms of how do we protect our brand, protect me personally and, you know, we're, obviously, not going to talk publicly how we do that, but it's top of mind. >> let's talk also then about computer security. you, obviously, had an activity, i guess you would say, a snafu during the summer. i realize there is ongoing litigation that would narrow what you can say, but how are you addressing the question of computer security and how close is american critical infrastructure, whether it is the airlines or telecommunication businesses or other businesses? how close are we to a kind of doomsday event? do you worry about that a lot? >> we are dependent on technology and automation like never before. it can shut down businesses and shut down -- and we've seen it -- >> as it did. >> as it did for us.

>> to the tune of $500 million. >> during the busy travel period of the summer. that matter we're actually in litigation because we believe there is fault to be shared and we're pursuing that with crowdstrike as you mentioned. but with respect to ai and the coming technologies of the future, it's really critical and one of the challenges we have is that the critical infrastructure providers have their own security challenges. the technology providers themselves give us the software, but we cannot have the technology producers not incorporating the security needs into the product as compared -- because there's always a rush to market and speed is of the essence. we can't do it with the risk that we've seen in some of the technology. >> phil lebeau is waiting on his perch somewhere out in the middle of the country i assume. jump in. >> ed, good to see you. quick question regarding the consumer electronic show. you're going to be out in las

vegas shortly after the new year as the show is taking place. this is not the first time you've gone out there. what is it about ces you believe is so important for delta expanding its brand beyond the core airline business? >> well we've been given the opportunity to do the key note and wear doing that the first week in january. ces is the biggest event vegas puts on all year long. week of incredible innovation and excitement, whether it's electronic, new brands and it's global. we're going to be doing the keynote from the atmosphere. -- sphere. it's never been done before. it's our 100th year next year. we will be launching that in the sphere. it's going to be a two-hour production that we're working on. so it's not a normal presentation. a lot of great guests coming and partnerships that we'll be announcing and new opportunity. so the sea of the ces is about

the consumer. we serve 200 million people a year. we're looking over the christmas break from the friday before christmas to the monday after new year's serving approximately 10 million people and doing it in great style with great experience and so delta needs to be in the center of a lot of consumer activity. >> you have the lounge, the shake shack, go ahead. >> and as a long-time shareholder and proud to be one, the question for you is can you talk to the consumer and the partnership you have with amex which has turned out to be phenomenal for both sides and how is that working in your strategic plan for the next few years? >> we consider our brand, sarat, to be a consumer brand as well as a premium consumer brand, and our demographic, our consumers, with household income of $100,000 or more, which by the way, makes up about 40% of the u.s. population, so it's not a small segment.

that demographic has accumulated since 2019 over $40 trillion of net worth since the -- >> just capital expansion. >> in terms of their wealth expansion, the market. >> homes, what not. when you speak to priorities for discretionary spend is travel. and the experienced economy as we were talking about earlier. whether american express the travel brand of choice amongst consumers or it's delta airlines which is the brand of choice on the premium sector, that's where we're putting all of our growth an investment into and it's something that candidly has never been done before. >> our industry has been commoditized and we're going to stay out of the pack. >> one of the things that's interesting about your business now, 10 years ago 20% of the business class seats were bought and now you changed that. can you talk about how you changed that? that is adding to your bottom

line and experience. >> go back 15 years ago. business class was basically seen as upgrades and no one was purchasing it. everyone was being upgraded as a benefit but if giving your best product away for free how can you have a stable franchise? we brought the price points down so that they're accessible so people can afford to pay to sit up front and they do. we've improved the quality of the experience so today, close to 80% of our seats in first class across the board are paid for. we still have room for upgrades, but if we flipped it on its head. >> can we talk about drones a little bit. >> if you would like. do you know something i don't know? >> i was going to ask you the same question. what, if anything can you tell us? what are your pilots telling you, if anything, about what they are seeing? how concerned are you? what is the government telling you? reassure us, if you can, or not, if you can?

>> drones are not new to the aviation industry. we've had drones -- >> neither are birds. >> or birds. but we've had drones for years. our pilots are trained on identifying them, watching them, recording them, working with the faa and the authorities to make certain we understand that. i don't know candidly anything more than you know honestly in terms of what the government has. the government has told us this is not a security concern. we know the faa and homeland security is involved in trying to understand this. >> have your pilots seen them or had to be redirected around them? >> again, we see drones not infrequently in the sky and when we see them we record them. we try to find out what they are and the authorities try to make certain that they identify the owners. >> has the number of occurrences been higher than usual lately? >> obviously, with the attention here in the northeast, it's been higher. i don't -- i can't explain the phenomenon but the authorities are looking into it. >> the government's language has

been extremely, to me, very careful. it's not a security risk. well that's not exactly a forthcoming answer. in my humble opinion. >> yeah. again, i know as much as you do, probably less,. >> phil, you want to jump in with another question? >> i hate to go back away from drones because i know everybody is fixated on that right now, but, ed, i was just over in europe and the airports, as people are flying there, when you get there, the number of people you see from north america you can tell the americans are there in different cities. it's just astounding. do you expect that to slow down in any fashion in the next year? because it just -- it kind of blew me away compared to past times when i've been to europe? >> transatlantic travel has been by far the highest growth that we've seen of all of the forms of travel and it's all

demographics. there's a secular move to travel and transatlantic has been the area we've seen the greatest growth in. we anticipate next year being another step up and it's not just transatlantic. it's asia, south america. only place in the world we haven't seen that is china. there tends to be not a lot of demand on either side between transit there. that's been a change. we've taken the planes and rerouted them to other areas. the transatlantic has been great and look forward to another year ahead of great growth. >> one more quick. >> just on that point in terms of aircraft. given the lack of supply coming on, are you changing your planes around to satisfy the demand for delta one which is kind of the premium package? how is that working and does that affect kind of the supply you have? >> delta one is principally driven towards international travel and the first-class international cabin on our planes. we've talked in the past about the delta one experience the lounge at jfk or l.a. or boston that we've opened.

the improvement in terms of the overall product on board the planes as well as the service. that's where we continue, again, the planes we're bringing in today, the international planes, one third of our overall product is premium on plane. that number used to be less than 10%. if you go back 15 years ago. we're continuing to move in the premium sector. the secular trends are in our favor. we see no let up in sight. i think people once they are back traveling, and they're traveling at levels we've never seen before, i don't see that changing any time soon. >> ed, thank you so much for being with us. >> thank you for having me. >> phil lebeau, thank you as well and sarat, thank you for bringing a friend along. shares of alphabet have surged more than 40% this year as the rally for tech stocks rolls on, but is there more room to run? we will check the charts in our market navigator. that's next. beig bk. rhtac

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welcome back finally to "power lunch." quick check on the markets stocks are lower across the board. the nasdaq down only slightly after hitting a record high yesterday. there you see it down 0.4% are we going to talk here? i don't know if dom is ready to talk about the nasdaq rally but look at those lovely numbers there for just a moment as we work out some technical issues that we're trying to solve here at "power lunch. we'll be right back.

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stuff your stockings with tons of entertainment and tons of savings. bring on the good stuff. xfinity. all right. let's talk with our market navigator about alphabet the stock is up 5% in two days 16% so far in december we're going to get one argument on why the stock is set for an ai catch-up and how the technicals and fundamentals

support that case. joining us now jessica from stock brokers.com. welcome. good to see you. >> great to see you as pell. >> why have you narrowed down on alphabet what do you see? >> so, first and foremost, alphabet showed up on every one of my technical scans i ran on a weekly basis it's about ai agents we've had a lot of excitement about the hyper computer in gemini 2.0 that came out last week but the processing units fuel and train large language models and accelerates those models we have an acceleration that has better performance, four times more performance, 62% more energy efficient that plays into the ai agents and enterprise solutions and positions google or alphabet to actually compete with azure and aws, we have ai agents like salesforce starting to come to life, a key theme we'll see in 2025. >> what do all of those lines behind you tell you?

i'm looking over my shoulder at them and there looks like a high pressure system moving in over the east coast and that would be the cloudy air what is all this going on here, jessica? i'm confused. >> yeah. such a great, great question there. so this is a key moment right here this is around 191 this is a moment that i have been watching entirely for apple and what confirmed that breakout this here is the cloudy area bollinger bands, standard deviations we deviated around from this, the 24, 36, 40 moving averages when we deviated away we went below this this acts as our area of support turns resistance and we had a flipping over this orange line 13 weekly moving average which is one quarter worth of prices this becomes support so now we've -- and here we've overcome this it's support and who we overcame this clear 191 area and this tells me that we are primed for

a breakout from here >> you explained that so well. i wants to say if this technical analysis thing does not work out for you, meteorology, meteorology, you've got a future in it. >> sounds great. >> appreciate it. >> over to kate rooney for the cnbc news update >> hey there, kelly. police say they are looking into the online activity of a 15-year-old girl they say killed a teacher and student yesterday at a christian high school income wisconsin investigators are working to authenticate whether writings circulating online are actually from the suspect police say identifying the motive for the shooting is their top priority. israeli prime minister benjamin netanyahu said today israeli forces will remain in a syrian buffer zone until they can insure the region's safety and security the comments in a briefing today from the strategic mount herman in what appears to be the first time a sitting israeli leader

has entered syria. israel sees the stretch of land along the border with the israeli occupied golan heights days after rebels ousted the assad regime. the loud pings that remind you to fasten your seatbelt in your car are about to get more common warnings in the back seat as well as the front seat will go into effect september 2027 back over to you. >> this is my biggest fear, truly. >> we're matching today, by the way. >> you, me and deirdre in the atmosphere we all do this, it's amazing thank you. meantime stocks are lower across the board as we await the fed meeting, and its decision tomorrow the bond market eagerly anticipating that and comments from chair powell. rick santelli is in chicago for more what can you tell us this afternoon? >> you know, this is a very unusual setup for treasury yields going into the fed meeting.

if you look at a chart that starts on basically a week ago friday you'll see is every session in 10s, every session, including today, has had a higher high than the previous day. so for 10s, seven in a row, for 2s, six in a row but the other issue that all treasury yields share is they've had six consecutive higher yield closes in a row. today we look like we're going to break that pattern, but it's still awfully close, kelly we're only basically down a basis point or so on the 2s and a little over a basis point in tens we're hovering close to actually neutral. if you look at the 10s specifically, yesterday's close was basically a four-week high yield close and all of that, of course, is taking a bit of a pause in front of the fed meeting tomorrow we all know that the future, what the fed is going to do, has changed dramatically not only in the mind of investors, but also how it's starting to show up in the marketplace. finally, the dollar index. this chart starts in october

of '22 give one an idea how we e on a threshold of breaking out. as it sits it's up 5.5% on the year and tomorrow i fully suspect that after the fed speaks, statement and fed conference, i believe that yields not only will climb, but i think the dollar index is going to have a wild ride for the rest of the year tyler, kelly, back to you. >> rick santelli, thank you very much sarat, what do you think, what's your outlook for yields the 10-year? there have been some that say it's going back to higher, 5%, 6%. >> i think it goes higher. we talked about et i think you have a few headwinds or tailwinds depending on where you are, inflation is here to stay what is your real rate versus the nominal rate we have deficits how do you we grow out of the deficit. that hasn't been proved yet. we don't know what the policies

are going to do. we don't know where the economy is going to go we've seen hiring slowdown. and the other thing, tyler, if you look back over the last 50 years, 4.5% on the 10-year was normal we're not talking about something oh, my god we haven't seen this. we have 14 years of 0 to 2%. get back to some type of normalcy and nothing ever stays in the middle. you could have -- could have the pendulum swing as long as the markets can digest it in corporate america and can do that in terms of what they need for extra capital, i think we're okay >> you have this kind of normalcy in other words a yield in the 4s, mid 4s, maybe towards 5, but the economy seems to be doing just fine despite that. >> yes and it is. look at spreads. spreads are one of the first indications, mainly as an equity investor, that market is a lot more efficient than our equity market today you have a lot of capital going in there because, you

know, having coming out of the 2% world, a lot of investors are looking for fixed income, looking for yield. it has to be what's your real rate versus nominal. i think that's where people also start forgetting because the cost of everything has gone up so high. >> more later. sarat, thank you bitcoin has surged more than 50% since donald trump was reelected rallying along with the rest of the crypto sector on renewed optimism for deregulation. under the incoming administration but is crypto a safe play for the average long-term investor nc rurerexplore that when "pow luh"etns ♪

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allowing us to deliver the energy we all need today so everyone can follow their own road. that's energy in progress. welcome back another big day for the crypto market bob pisani bitcoin hit a new high topping $108,000 how are financial advisors positioning their clients in crypto for 2025 and beyond it can be a part of a long-term investment strategy or just a trader's play. sharon joins us with more. >> bitcoin and other crypto currencies have soared since the november election. if you take a look at this coin

20 index made up of mostly bitcoin and xrp, ether and solano and several other crypto currencies that trades 24 hours a day and doubled since the election still many advisors are reluctant to recommend crypto. in july 2024 when crypto prices were half of what they are now a an annual survey of 2,000 financial advisors found that more than half of advisors, 59%, said they don't use crypto currencies or plan to the in future while more than a quarter said they don't use it now but expect to in the future. about 12% of financial advisors said they use crypto currencies based on clients' requests less than 3% of advisors use crypto based on their own recommendations. advisors who recommend it are using exchange traded funds for crypto exposure and over one third of advisors use etfs in 2023, sirruleo associates expects the vast majority to use

bitcoin next year. to have it in your portfolio depends on your time horizon, risk tolerance and financial goals. tyler. >> thanks very much. sarat, where does bitcoin or crypto fit in your investment thesis >> i think 100% it depends on the client's risk profile. this is a volatile asset class that can have a short period if clients can have that risk tolerance and do they want it or not. this is not something that is going to be linear for -- it is very volatile. i think given where we are in the markets equities -- you need to understand your client's needs. needs. is that what they should have or not. >> let's move on to three stock lunch with sarat that has our trades today united health group the shares down nearly 15% over the past week and a drag on the dow president-elect trump's comments

on the drug industry, and its middle men hope unh >> i do. we own it. i own it i think the stock is down 10% in the last year, but it is a good company that does good things. it is right now in the cross hairs of negative press and i think you have to wait until things settle down until year end momentum person it's hard to step in front. >> do you care if they divest? >> i think that would be better. >> yeah. you have to take away the opaqueness, make it more transparent and there is a place for health care companies and insurance companies. but i think we just have to make sure that now we find out what exactly it is supposed to. >> let's move on to netflix which has been on an incredible run. the co-ceos expected to meet with trump at mar-a-lago today what do you do with the stock? >> i would hold it at this point. netflix is one of these things you buy on the dips. they are the leaders.

>> i don't see many dips on that chart. >> over a three or five-year period, always times when they don't add as many subscribers. it is the leader you get the opportunity every once in a while. i would hold it at this point. >> let's move on and conclude with workday the financial management company up more than 30% over the past six months added to the s&p 500 next week. your take on workday >> i think it's a work in progress the stock hit a couple of tailwinds that we saw, but i think if you look at their business which is hr, which is financial management, huge demand double-digit growth growing internationally. it trades at something like 25 times cash flow but growing at double-digits. not a cheap but not expensive stock. growth at a reasonable price and huge amount of cash flow. >> what does 2025 ook like for you? >> for workday >> no. for the market >> i think you get mid to high single digit it returns, but i think you're going to get quite a bit of volatility with we have a new administration we don't

know what the policies are going to be. we know what they've said they're going to be. we have to see where commodity goes, energy go, dollar go there's a lot there. i'm still a long-term investor and bullish. the one thing i always tell clients stick within your allocation because if you've done well this year, maybe you need to peel back some not because i think you shouldn't be in equities, but it's always good to do that. >> gotten out of balance just through inertia. >> whether it's in your 401(k) plan or investable portfolio stay within the aloe location. >> great hour. tnkou enjoy it. >>ha y. >> thanks for watching "power lunch." >> "closing bell" starts right after this ♪♪ 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.

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♪ welcome to closing bell. i'm skate wapner live from post 9 at the new york stock exchange we begin with the appetite for risk, which one firm says is at the highest level in some three years. so does it mean another leg to this record setting rally is in the cards before year end? we will ask our experts over this final stretch, including liz ann sonders. meantime, the scorecard with 60 to go in regulation. we have a down day on the street it's red all the way around. dow is the big loser for the ninth tay in row that's the longesttr