ylan, good morning >> reporter: good morning, seema. you are right.dent biden will attempt to sharpen the economic message as the white house goes into full campaign mode with the mid determinmidterms around the corner. the plan is to build up from the bottom up and middle out what does that mean? senior white house officials say biden will highlight work to bring down costs on prescription drugs and health care and gas prices he will start in syracuse with the $1 billion investment in chips to create 150,000 jobs the theme of lower prices and investment in manufacturing will be echoed by his top lieutenant today. treasury secretary yellen will be in ohio secretary raimondo in maryland and hhs secretary becerra in texas. they will push to extend tax cuts to the wealthy and threaten to cut social security and medicare polls show the economy is front and center for the voters and that tilted the playing field for republicans. the latest support is showing gop support at 43.5% compared to 44.9%. there is not much time left for democrats to get their mess

>> not at this point, seema. to be honest, they're very uncertain about the future t macro environmental at the moment you see that reflected in microsoft guidance it implies 2% growth in revenue even though earlier they said they're expecting in their fiscal year double revenue and earnings that is a concern because some of the shine off that bullishness they had earlier this year has gone, and so that, i think, reflects the uncertainty in the macro environment. if you look for it, it isn't just about the slow ad spend it is about now, the coming quarters, when will advertisers be bringing their budgets back i think that's why you're seeing a lot of the tech companies really focused on costs and cost-cutting that's where markets want to see discipline in that area. >> speaking of cost-cutting, we'll hear from facebook parent meta tonight we'll see if there are any signs of cost cuts there arjun, good to see you thank you. >>> back to the broader market, a new pullout from reuters finding forecasters believe the

>> seema, thanks for having me on the show.e running out of time until the end of the year the 4800 target was too rich from here moving through the elections and into december 31st we reduced it down to 4000 from 4800 with the expectations of the last friday close with a volatile week through the end of the year we think there will able 10% to 12% upside >> high inflation and earnings what is the main reason you are bringing the forecast down what makes you more cautious >> i think we remain bullish on equities we think where we are right now, there is a lot of unresolved issues related to inflation. the thought is the federal reserve is very much committed to placing inflation in check. we think, you know, we will have two more hikes this year and likely see hikes in the first quarter of next year we don't believe the fed will pause before it finds it feels it is getting inflation in check. we do think the market as traditionally or often happens in fed fund hike cycles, not an easy phrase to say, but fed fund hike cycles, wh

that is according to reporting from cnn oh, well, seema. you never know. >> he just tweeted two hours ago he will add a donate option to starlink the story continues. bertha, thank you. >>> turning back to markets. james bullard is leaving the door open that the central bank will hike 75 basis points in the next two meetings in november and december speaking this weekend on the sidelines of the imf and world bank meetings, bullard says it is too early to make that call it doesn't matter if they make the call later this year or early next year. bullard is a fan of front loading and then officials can pause and assess the situation let's talk about the outlook and what it means with kevin caron at washington crossing advisers. kevin, your take on what bullard had to say >> i think he is right there is a difference now versus the beginning of the year. the markets have already moved we were looking at markets that are pricing in 5.25% short rates. this is a very different set up than the beginning of the year where the market was essentially d

we have eunice yoon with more from beijing >> reporter: thank you, seema. today is all about nio several hours in berlin, they will announce a deeper push in europe the executives are expected to unveil pricing and leasing terms for models like the et 7 the competitor for tesla's model s. this is for germany, netherlands and sweden and denmark the founder told me why at the first european market. >> translator: china is the largest car market accounting for 40%. europe and the u.s. combine for another 50%. for us, we like to be competitive globally we want to enter the markets >> reporter: china came to dominate the ev market with the jump start from the government back in 2015 when beijing unveiled the made in china 2025 strategy which was meant to pump up the ev market as well as other high tech industries by 2025 so they directed tens of billions in subsidies and the first few years were slow going. not a lot of sales a lot of waste in 2020, ev adoption really ramped up. this came also with the entry of tesla's shanghai production. a lot of people say th

seema: there will be hiccups. we are taking the fed at face value when they say they are focused on inflation. we think they will hit that peak early. we are thinking probably by january or february they will hit that peak, 4.75%, that is our forecast. by then we expect the economy to weaken. i do believe that at some point, late in 2023, there will be a cut in the fed funds rate. not in may, june that was being forecasted a month ago. guy: do you think that global central things will be able to get inflation down to target? or do you think that financial stability issues will knock them off course at some point before that is achievable? if they cannot get it down to 2%, i would think that is not great news for bond markets. seema: that is clearly the key debate. even last year, earlier this year, when the fed started to started to come out, that was real pushback. you start to have tightening really getting into the pace that it will be. that is when you see liquidity issues come up. that will prevent the from g

seema mody, thank you.ultiyear trend of underperformance that's most concerning and why it's tough to get behind it. it's been making even in terms of price action. lower highs since 2016 a lot to be desired here the call, i suppose, it's too late to sell and some incremental improvements we took it off our large cap sell list this week. it had been on there since july of 2021. so like the market showing some signs of possibly trying to at least form a near-term base against some longer term structural concerns. if you are positive ly incline from a trading basis use that as your stop. there could be near-term upside. unsure about the long term >> too late to sell. not a ringing endorsement, ari wald u.p.s. actually had its best week since august last week. competitor fedex giving us not a great picture of the economy what are we watching from u.p.s. frank holland joining us with the u.p.s. story >> reporter: revenue and eps forecast to increase despite fedex's big and ominous warning about a potential glob

let's bring in seema mody for the story. >> tyler, we did hear from sean connolly who said if and whenu'll start to see the consumer eating out less and opting for cooking at home and spending more time in the home the question is that's exactly what he's seeing in the third quarter. and echoes what he saw from walmart ceo, where he said consumer is under pressure and in some cases trading down, opting for canned goods. that will be what investors looks for when conagra reports earnings this is a popular dividend play, officering 4%. but with the two-year, a similar amount, it much more about buyback and allocation plan. year to date, stock is down, yes, 2%, 3%, but vastly outperforming its peers and s&p 50020% decline >> seema, stick around, we'll get back to you, delano, what do you think of conagra >> yes, tyler, another one i do not own, i like the valuation better trading at 13 times, and seema mentioned consumers a big one here obviously at stake, they've got a big problem with supply change issues and price production on that side. in july, management raised guidance that was a

welcome, everything, to "power lunch," along with seema mody, i'm tyler mathisen here's what's ahead on a busy trading start for the month of october. stocks surnlging to start this w months rebounding from those lows technology coming off a brutal quarter. is that where you're going to find some of the biggest returns from now until year end. we have got your power play book wall street divided. some analysts say credit suisse's position is healthy others say no. we've got questions and answers, the latest developments on that embattled bank seema. >> tyler, we are near the highs of the day, stocks rallying to start the month of october the dow up about 716 points right now. that's an over 2.5% gain for the dow jones industrial s&p 500, the nasdaq also seeing gains of around 2 to 2.4%. now, the rally comes as treasury yields are dropping. the yield on the ten-year now at 3 3.6% the two-year, still above 4.4% you can see yields moving there. energy is the bets pst performi sector today oil slightly higher. you'll see marathon oil, devon energy, gains of 8 to 9% at this hour and it's

but we begin with seema mody on the rally. hi, seema. >> pretty strong day, tyler. stocks are on track to end the week higher, but we still have three hours left in trade. take a look at the screen, dow jones industrial near the highs of the day, up 700 points. s&p 500 up 74. the nasdaq seeing over a 2% gain thanks to what we're seeing with shares of apple. but there has been this active debate around growth versus cyclical sectors like the industrials. just take a look at alphabet first, we start with tech, on track for its worst week since mid-september. names like meta, microsoft, all sitting on sizable blosses for the week compare that to what we're seeing in the industrial space caterpillar on track for its best week and month since july of 2009 following strong earnings you can see up 14.5% this week honeywell, up 11%. you clearly have seen this outperformance industrials on average have been growing their profits in the third quarter, up 19%. compare that to technology where profits have fallen by around 1.2% and when it comes to valuation, industrials tradin

seema: that's right. a member of his party, let's not forget, he was the former president of the european parliament, so seeing -- still seen in some person -- some circles as the obvious person to take on this role. many in the opposition are saying well, this is a question whether he can take such a role. if the party is not behind what giorgia meloni wants to present, which is a strong relationship with the united states, a strong member of europe, and that italy will not be the weak link in the last. at is what she wants to put forward with this ultimatum of a statement she has made on wednesday evening, say it may be at the cost of not forming a government. perhaps she is trying to assert she is the one who got that 26% of the vote. she is the one in the power position. and she is trying to deal with these tensions. we will have to see what comes up next. these exultation's are expected to happen thursday and friday. we will see what comes out of it, and whether they will be able to create the cabine

that's seema mody with the news for us jim labenthal, you own exxon >> yeah, and i think the questionlarge here is whether this is a trade, something short-term or something sustainable. i'm clearly in the latter camp globally there is a supply demand imbalance, and we've papered it over with strategic petroleum reserve releases that simply can't go on for much longer, and when they stop that's going to loom large heaven help us, frankly, if china abandons the zero covid policy and their demand picks up we're really seeing there's two years going to favor exxonmobil and we should be rooting for as a globe the green transition has some legs to take the pressure off because this is not a good situation for the globe even though it's good for these companies. >> you don't think these are right for some profit taking opportunities? we had it and then the money went back in and they got pushed up again exxon and chevron are both up more than 23% in the last month alone. >> i see your point. you know my point which on any long-term chart these things are just recovering back to where they w

seema mody has the story on cat. seema? >> brian, pricing will be key.ng to show up in caterpillar's numbers. the manufacturers, this big, heavy equipment that is used by so many industrial players analysts were saying it would take about one to two quarters that will be interesting to see if that prognosis changes. separately, the team at city recently caught up with caterpillar's senior management, and their takeaway is that competition is set to intensify in north america, as customers look for more foreign suppliers. the stronger dollar obviously playing a big role there it makes their products more attractive if that's the case, what is caterpillar doing to ensure it's not losing market share. can wall street bet on a 2023 rebound. and could deal making be in the cards? back in june, we heard from ceo jim og umpleby >> how's their supply chain looking? >> interestingly enough, last quarter when we heard from u umpleby, he was not able to articulate when supply chain issues would ease, whereas ge sk and cummings said, it should get better interested

plus, seema mody is here on cat pill lehr. 238 points which means we're going for five days in a row of gains for the dow. clearly, that's not the whole story because the s&p is down nasdaq lower, but the rest of the market able to shake it off. why? >> first of all, it's a relatively routine earnings season you've got three quarters of all companies beating estimates. it's up a couple of percent in aggregate. s&p, down 4% no worse than expected so that part of it is pretty much on plan then of course the relief from yields we have a relief also from fed speak this week. so all of it together shows you again an underinvested seet. so it'rota as sed to retreat all for the market>> olt catllar rag driverehind the dow's dain more than twoearst the hey eqent maker easily beating estimates thanks to strong pricing and an increase in sales volumes seema, all the worries about china, aut tousiarket, here's a company ts on the most cyclical companies an et ielt. right?ood ter. >> no signs of recession the outperformance really tells u

so pay attention now pay attention to seema mody. >> brian, here's what's happening at this hour more information is coming out about russia's widespread attacks in ukraine after russia claimed that ukraine blew up a bridge in crimea russian attacks have stilled at least four in the southeast sid of dnipro. president biden is slamming the russian missile attack throughout ukraine he says the strikes show, quote, utter brew taught of president putin's war on the ukrainian pam. >>> on the news tonight how western allies are responding, tonight at 7:00 p.m. eastern. >>> in the nfl, the carolina panthers have fired coach matt ruhle after the team's loss on sunday he had a start of 1 ha-4 opening for the season >>> brian, that's the latest, back to you, $62 million, seven years, getting fired after 2 1/2 years, i'll tell you what, you can get fired and be set for life >> it can work that way. >> it's happened to a lot of college coaches. seema, thank you very much >>> coming up, could small-cap stocks be flashing a big buy signal harry is here with what what could be a bullish sign. >>> an

seema mody is joining us know with that story.e've seen a significant drop today's producer price index -- if we zoom in on industrial metal prices, they're fall out of a cliff down 5%. while comer is up 28%. shipping rates, 'we discussed, have traded down recently. which analyst says -- even speed up their deliveriessees. it will take a few quarters but they'll start to go the benefit in q3 the big question is, will they lower reduction, or take advantage of lower commodity prices that, of course, will be a big part of the story. i feel like industrials, it's been a negative year, month for stocks, but it's outpurchases so far. >> yeah, of course a strong dollar is weighing on many of these commodities, but you did see aluminum spike earlier today. so the role that sanctioning could potential play here, as we have this conversation, i mean, you have names like alcoa that are trading higher, speaking to this industrial manufacturers story, actually trading lower, because, of course they're an end use of that aluminum >> well, morg

seema mody has the details. >> hey, melissa, the new restrictions are the most aggressive actions taken, limiting u.s. and making it increase get different for companies in china to obtain advance computer chips developed in the u.s. pointing out this is not an outright ban. this is an important step of china, those criticizing the move, a violation of trade rules. b of a vivek aria says the exact effects really depends on how these rules are enforced he expects intel, applied materials, nvidia, lamb research to potentially see a 5% to 10% hit to sales and micron and western digital could potentially benefit incrementally by taking market shanks from yangtze it ecknowledges >> now is christopher rolen, great to have you with us. >> great to see you, melissa. >> what's so interesting, chris, a lot of people thought this sector had been derisked and here we are. if you look specifically at how certain stocks have reacted, because these export restrictions were floated before, and we saw immediate reactions from nvidia and amd, to trading down again on basically the samening, except it's c

plus, seema modey and pippa. we are seeing a little bit of a rebound. don't know, mike is it pathetic to see a rebound after five down days that looks like this? >> it's a hesitation at this point. always a positive we're not accelerating lower ahead of a p big number i think things are getting coiled pretty tight. markets have been churning around this 3600 level we have the ten-year treasury yield. right below that recent ceiling at 4%. the dollar index the back. i don't know where this cpi number's going to be tomorrow. the market doesn't know. all the surprises have been to the upside if there's anything in the way of relief, the market probably can kind of take that and run with it. at least in the short-term because of we are going into the number near the record the lows for the year. >> let's hit pepsi big mover today. surging after topping q3 estimates. revenue's up 9%, pushing the company to boost its full year outlook. up 4.4%. what is the story here higher prices. pricing for pepsi products 17% in the quarter that's where all the growth was.

seema moody now has more seema? >> tyler, carnival was successful in raising more debt. it set out for $1.5 billion but ended up raising over $2 billion in the junk bond offering but it comes at a price high yield of 10.7% and it's offering 12 cruise ships as collateral i spoke to a number of analysts. if carnival is not able to service its debt at the time of maturity, the ships would be sold and those bond holders would get paid first steven carter at credit flow research calls the offering innovative and unique for a company like carnival sitting on a lot of assets and with only five deals priced in the junk bond market this month carnival is easily the biggest deal in october and follows royal caribbean $2 billion raise and tipco's $4 billion in september. typically when carnival or any major company raises more debt the stock plunges, but this time we did see shares spike 11% yesterday. giving back some of the gains today. but stifel analyst writing that this debt raise pretty much removes a risk of another equity raise and that, they say, is very important. >> outl

i'm seema mody here's the cnbc news update.rial is starting ibspain over a 2013 train derailment that killed 80 passengers and injured 145 others prosecutors are seeking four-year prison sentences for the train driver and a former security director at a rail infrastructure company an investigation shows the train was traveling over 110 miles per hour, more than twice the speed limit on that stretch of track >>> south korea and the united states are conducting missile drills to protest north korea's reckless actions south korean and american troops fired a volley of missiles into the sea and also staged a bombing drill in the yellow sea. this follows north korea's recent ballistic missile test that flew over japan and prompted a warning for residents to take cover. meanwhile the u.s. navy is deploying its newest and most advanced aircraft carrier. and uss gerald r. ford kausz cost a total of $15 billion is the largest carrier in the world. frank, i'll send it back to you. >> seema mody, thank you for those headlines. now to our

> seema mody. and norwegian ceo will be joining jim cramer at 6:00 p.m. you won't want to miss that. and i'll see you at 5:00 p.m. on "fast money" with your countdown to the jobs report >>> and that does it for the exchange "power lunch" starts right now >>> and welcome, everybody, power lunch. here is what is ahead. retail investors are bailing on stocks according to jpmorgan, they haven't sold this much in individual companies since march of 2020. we'll tell you what they are selling, what they are buying and what they are getting rid of and it includes well-known names. plus rolling the dice, corporate america binged on cheap debt and now a recession may be looming. which companies are most at risk you know who will tackle that, con contessa >> and hello, everybody. stocks moving lower, the dow down 283 at the lows right now sitting down 223 points, 0.75 percentage. and s&p off half a percent, nasdaq roughly flat. the only positive sector right now is energy. the energy etf on pace for its best week since late 2020. marathon, occidental, apa leading th

let's get a news update with seema modi >> here's what's happening at this hour. house speaker nancy pelosi's hsz paul was violently assaulted by an intruding in their house in san francisco. nbc news reporting the weapon used in the assault was a hammer a spokesperson for the speaker says paul pelosi has been hospitalized and is expected to make a full recovery and that a suspect has been arrested speaker pelosi was not in san francisco at the time. >> on to some economic data, pending home sales shrinking sharply last menth as mortgage rates topped 7%. the drop was more than twice what analysts expected over the year, sales have sunk 31%. excluding a brief plunge at the beginning of the pandemic, it's been the slowest pace in 22 years. >> overseas, britain's royal mint has produced the first coin with king charles' image on them king charles is shown without a crown, unlike most coins showing his mother, queen elizabeth. the new coins will go into circulation by the end of the year back to you. >> seema, thanks for that. >> apple definitely defying the big tech

a handful, in fact, four stocks in the green on the ndx as of now >>> let's get a news update with seema mody. >> hi, carl. here's what's happening this hour opec plus nations have agreed to cut oil production, q quotas by2 million barrels per day. cnbc is reporting that will translate into actual production cuts of 1 million barrels per day. crude prices are near the highs of the day, building on sharp gains in anticipation of the cuts >>> let's talk housing mortgage apps sinking another 14% in the latest week, pushing them to the lowest level since 1997 soaring interest rates and hurricane ian combine to throttle mortgage demand that's a concern there. >>> growth in the services sector is stronger than expected ism's non-manufacturing index topping estimates in september the report also shows prices paid by businesses for inputs fell to a 20-month low >>> and alec baldwin and producers of the movie "rust" settled with the family of slain cinematographer halyna hutchins, who was fatally shot on set with a gun held by baldwin during filming last year. details on the settlement have not b

and seema mody has all the headlines. >> cnbc has reviewed the investment deck presented to shareholdersn which norwegian cruise line outlines an aggressive expansion plan it currently has 29 ships in it fort follow i don't with another five on order for delivery starting next year the cruise giant also detailing its continued bet on the luxury consumer saying it has more market share than its competitors. it comes after carnival released numbers that shocked wall street sending the stock down about 22% on friday. since then you've seen many of these names come off their lows. but despite reiterating bookings that will improve in 2023, investors still seem more confident in land travel versus sea travel and analysts say upon review of the latest bookings data, that there is a clear sign of accelerating corporate travel and a stable recovery for the industry they are going as far as saying that this should set up for positive earnings revisions for the major hotels despite all the investor skepticism and concerns about a recession forthcoming. >> was there -- is there also this notion of

. >>> very tight election racein brazil brazil leading to no outright winner our seema mody has detailslian stocks higher today. >> a positive reaction to president jair bolsonaro's stronger than expected showing he promises to curb energy prices while calling into question the country's electorate system, even if opposition candidate lula desilva wins, he says he will have to govern many towards the center given the number of right wing leaders in the senate that's also prfoviding a little bit of relief for investors. the rial is up about 4.6% against the dollar, it. the rally has been more tied to the rebound in oil and energy prices than politics, but ubs and capital economics, they argue that who ever leads this country through a pending global recession, that could really inform investors on whether this remains a good trade, carl >> seema, you know, central banks around the world are sort of in differing chapters of fighting inflation, and there are some who have argued maybe brazil got an earlier start and can end sooner too how important is that? >> that's one of the reasons bra

oh, good to turn back all been all 3 lisbeth adieva or saba gender was east seema, but we don't old are and so your bill about a little bit build it, but it must sit by the error that we send to about the body will not be about them and i said, well, nevada snow up. i see my mom is just little nibbling yet. the u. s. is the main supplier of weapons to ukraine, $41000000000.00. you can't take 2nd place with a round $7000000000.00. the e u has provided over $6000000000.00 worth opponent supplies ukraine with the most weapons, with italy in 4th place. my knowing on shovels that the attack got done issue no, a queen the no, she complained. ah, pick peter shamble in drought, the in when run it for in the are more out of me as you call me call the bus stop for donna patrick. american has lived in italy for over 40 years, teaches english here. despite being an american, he finds the leading role. his country wants to play in all international conflicts . unacceptable. there are more us soldiers here in italy today than the word during the war against notice. more soldiers to where is the enemy

jonathan: seema shah, just go in with your own balance.ity, this is bloomberg. ♪ lisa: keeping you up-to-date with the first word. russian missiles hit kyiv and other ukrainian cities today in the most intense barrage since the early days of the invasion. vladimir putin threaten further attacks, warning that the action would be harsh after he blamed ukraine for an explosion that damaged a key bridge connecting crimea with russia. ukraine has not acknowledged it was responsible. ben bernanke and two u.s. colleagues share this year's nobel prize in economics. in bernanke and his colleagues were honored for their research on banks and economic crises. the prize committee says the three improve the understanding of the role of banks and how to regulate financial markets. the bank of england has expanded emergency support to the u.k. bond market, taking steps to support gilts, and started bond buying last month after market turmoil. semiconductor stocks across the globe fell today. new u.s. limits on china's access to american technology added

seema shah will be joining us. we will get her take on what is happening here.loomberg. ♪ - [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call right now. (upbeat music) guy: monday, the third of october. oil is up. the bond market is up, as well. the dollar is down. the countdown to the close starts right now. >> the countdown is on in europe. this is bloomberg markets european close with guy johnson and alix steel. guy: great way to start the quarter. a lot of green. the question is is that a good thing or symbolic of

. >>> welcome back the brazilian voters have spoken and seema -- a new leader, who was also the old leaderst margin. the top agenda item will be the economy. so far the market's reaction has minksed. with near ly 6 billion >> with more than a market, on who he appoints expecting a relief rally, if they -- however, with the divided congress, passing bills and infrastructure spending will be a challenge. that's why experts say he'll have to use the negotiating power and carry a more centrist agenda lula will be sworn in january 1st. so far no acknowledgement from the current president bolsonaro. >> very quickly petrobras, why is it down i spoke to a there is concerns about investors about maintaining a kernel level >>> folks that's correct does it for us, "power lunch" starts right now. here's what's ahead on a busy monday >>> last day the of month and surprises advise for investors it says walk, i following dress, plus a housing hard lander , to weather a real estate

welcome, everything, to "power lunch," along with seema mody, i'm tyler mathisen here's what's aheadsy trading start for the month of october. stocks surnlging to start this w months rebounding from those lows technology coming off a brutal quarter. is that where you're going to find some of the biggest

guidance shares are up 4.5% and caterpillar sales and revenues increased 21% in q3, senting cat up seema with the ceo and joins us now >> just kindly correct you, morgan he spoke on the conference call. here's what he said the. the urgent need for natural gas in europe is prompting u.s. energy players to buy more energy and transportation equipment from caterpillar ceo saying the company plays a meaningful role across the value chain from drilling, fracing to gas compressors. sales rising 22% year over year. he does not see this business slowing down on supply chain he said there are pockets of improvement this is the first time we've really heard jim talk about an improvement in supply chain. but he did refrain from providing a 2023 update given the flurry of macro related events as to what to expect in the fourth quarter, he said q4 is typically the highest from a revenue perspective. the reaction from wall street so far, pretty strong it's the best quarter for caterpillar in ten years barclay's says it's the cleanest set of numbers they've seen since the pandemic stock up over 9% back

repeat months but they still remain way above 2019 levels how is that impacting consumer spending seemaet's start with hotels prices continue to drop. september cpi report showing lodging away from home falling 1% month over month. a different story for airfares, though after cooling down a bit, they're back on the rise up 0.8% month over month and ticket prices are expected to surge ahead of the holidays new data from hopper, domestic airfare tickets for thanksgivinging averaging $290 round trip in line with 2019 levels but 24% higher than last year for christmas, you'll pay $430 on average for a round trip ticket that is up 17% from 2019 levels and 53% higher than last year. there's a new survey from bankrate that tells an interesting story here they found that 79% of americans traveling this holiday season are changing plans due to inflationary concerns. about a quarter are traveling fewer days, so shortening the trip others are engaging in less expensive activities others are saying, all right, we don't have -- we have the airfare. once we get to our destination, let's opt for a mor

what other are the biggest challenges facing thousands of federal responders seema has actively engaged in rescue efforts across the southeast right now, director common? >> well, thankfully we've been able to be coordinated closely with all of our state counterparts by having people and commodities prepositioned in conjunction with the state. i would say some of the largest challenges that we are facing and that we know the survivors are facing. one is mental health and emotional spiritual care. i was able to be on the line with doctor -- from the mental health alliance and we were talking about just the sheer shock and trauma that people are experiencing right now. so, we want to make sure that people can get access to the mental health that they need, but also that people know the ways that they can jump-start their recovery. the way that you can do that from fema is if you call one 800 621 3362. once again, that's one 800 621 3362. for those that survived survivors in florida, that begins your process to start the long road to recovery. >> director common, i have to ask this. obviou

. >>> new export controls on china could reek havoc on the semiconductor industry our seema mody has> significant shift in u.s. policy related to china that does limit u.s. companies from exporting chip manufacturing tools to china evercore isi writing, with these new restrictions, it is clear the u.s.'s aim to crush china's ambitions to be a leader in the semiconductor industry the two chip names with highest exposure to the country, according to evercore analyst, lam research with 33% followed by applied materials with about 29% exposure other u.s. companies they highlight that could be impacted, asml holdings, kla corp and teradyne, all those names down 4% to 7% this hour. not to mention chinese chipmakers that now won't be receiving or collecting that revenue from u.s. companies, the commerce department announcement follows amd's warning of a slowdown in the pc market last friday all of this weighing on the broader etf. you'll see the etf down double digits this year and trading at the lowest levels since november of 2020. david? >> seema, thank you. >>> let's get more on the chi

. >> interesting story thanks >>> shall we go to seema moody we shall a cnbc news update >> here's what'spening at this hour. in oklahoma, the deaths of eight people found in a burning home are being investigated as a murder-suicide the victims include six children aged 1 to 13 authorities say the two adult who died are considered suspects the local fire chiefs say none appear to have died because of the fire and guns were recovered from the home. >>> the pandemic shut down, set back students by more than a year according to an analysis. ap found the average american student lost half a school year's worth of learning in math and a quarter of a year in reading. >>> rock and roll pioneer jerry lee lewis died he defined songs "great balls of fire" and "a whole lot of shaking going on." he was the last of a generation of performers that included elvis presley, chuck berry and little richard jerry lee lewis was 87 years old >> i showed my kid a youtube video of him playing piano not long ago he did it like nobody else did. >> standing up and a lot of passion. >> you can see - >> controversy.

president xi, there are investment opportunities and implications seema moody looks at how your money might be impacted. >> investors want to know if president xi jinping's anti-corruption campaign and crackdown on tech ha that has challenged its biggest companies and stopped the $34 billion ant group from going public if that will continue. it's had an impact on the market, the etf down 58% the 69-year-old leader in office since 2012 and is expected to be granted a third five-year term this sunday she will deliver a speech where he'll -- xi will deliver a speech to outline goals after sweeping restrictions on the industry calling on the country and manufacturers to become more self-sufficient, less reliant on the united states. larry hu wants to see how leaders strike a balance between security and development given the sharp deceleration in the economy will beijing make growth a bigger priority we do get third quarter gdp results from china on thursday analysts estimating a 3.5% rise, well below the target set out by leadership this year. >> how might this weekend's event or this we

is if i die too. [ screaming ] >>> welcome back i'm seema mody here's your cnbc news update at this hourrview with nbc news alex lukashenko warns of backing putin into a corner and crossing red lines. russia does not have a goal to use nuclear weapons and cautioned a nuclear conflict would be the end of our planet lukashenko has been a close ally of putin's for years but has insisted belarus and russian troops will not enter the conflict >>> two suspects were arrested after throwing soup on a van gogh painting and gluing themselves to the wall they say it was to protest action from the u.k. government. there's no damage to the painting which has an estimated value of $81 million and the usda is proposingnew regulations for how poultry is processed to limit the cases of salmonella these plans call for enhanced testing throughout processing factories. over 1 million people are sickened every year by sl munella, but the usda says most of that comes every year from improper handling in the kitchen. >> shares of netflix up this week, up more than 30% over the last three months. we keep highli

this is his second nobel prize, making him only the fifth person to win twice >> that's incredible seema to shares of twitter lower after elon musk says he'll continue with his purchase of the social media company joining us is mozelle thompson former ftc commissioner and roger mcnamee, elevation partners we'll talk about if this happens, how he restructures it as a private entity. your point is that regulation is going to continue. >> absolutely. you know the genie is already out of the bottle. the ftc is going to continue the look on whether twitter complied with prior consent orders and the whistle-blower complaints still out there. that's one musk has already talked about that, too. in addition, the ftc may be asked to look at the national security issues that the congress had a hearing about just a couple weeks ago because already meta has said it's taken off chinese and russian sites for essentially election interference so what is twitter doing they're going to be asked about that. >> roger, what's your take, assuming this happens, on how he changes the content structure of the pl