morgan brennan is on "power lunch" with an assistant i'll stend over to morgan brennan right now. >> trusty partner, brian sullivan here's what's ahead. yields are spiking as the fed signals that rates will reach a higher level than previously thought. we'll show you how to build a fixed income portfolio in a fast-changing market >>> plus, as valuations collapse, which companies should get together we'll sneak a vc who has some surprising ideas brian? >> thank you very much call it post-fed hangover. the dow is not down much the nasdaq is down over 1% that's been the trend for the year, as has this. energy old oil and gas is the best performing sector once again, led higher today by conocophillips they had blowout numbers apa, used be called apache, marathon at the same time the white house is calling for more fossil fuels, more drilling could be very good for these companies. in the treasury market, the yields are popping tro-year yield trading at highest level since 2007 rick santelli is at the cme as yields continue to pop >> sevens are wild two-year note yields on the highest pac

morgan brennan is on "power lunch" with an assistant i'll stend over to morgan brennan right now. >>here's what's ahead. yields are spiking as the fed signals that rates will reach a higher level than previously thought. we'll show you how to build a fixed income portfolio in a fast-changing market >>> plus, as

o i'm morgan brennan. stocks are mixed the dow is down fractionally back towards the flat line, about 31 points. the nasdaq is higher by 1.9% powered higher by tech yet again. the nasdaq and s&p both on pace for their best week in five months i should also note that the s&p is up 9/10 of 1%, moving closer to the 4,000 mark. again, amazon and alphabet hired today, up 10% on the week. check out meta that's up more than 25% so far this week. 26% right now. what is dragging on the dow. united health is down 5% but that's $30 a share meaning it's taking nearly 200 points off the dow on its own. cigna, humana, also down big that has investors rotating out of the health related stocks right now, and other defensive sectors as well, i might add pretty much anything with health in the name, though, that's getting hit hard today, tyler. >> morgan, our next guest says he thinks the rally may be over done while the latest read on inflation was encouraging, the fed is going to need more convincing before it stops raisi

i'm morgan brennan here's what's ahead. markets next test.gainless continue from walmart to home depot to target and macy's. the keys

. >>> thank you and welcome, everybody to "power lunch" along with morgan brennan i'm tyler mathisen's ahead. china's covid chaos. protests mount against the country's virus restrictions the effects rippling through global markets on this monday. we will look at the impact on stocks, commodities, tech and american companies operating in that country >>> plus, inflation looms over holiday spending we'll talk to a former industry insider who says it may be tim

our own morgan brennan joins us now with the latest. , this is just the first of what's to be many artemis missions to come how significant is the launch in and of itself? >> it's a historic launch. dom, to your point, fourth time's really the charm here 1:47 eastern time this morning to be exact. this mega moon rocket built by nasa for nasa blasted off from kennedy space center >> three, two, one, boosters and ignition, and lift-off of artemis 1. we rise together back to the moon and beyond. >> this ushers in a new era of american space exploration it kicks off nasa's artemis program 50 years almost to the month after the final apollo moon landing artemis 1 is this uncrewed mission as it's known. it's now the mosa's deep space capsule. that capsule, which is called orion is going to carry around before it splashes down in the pacific ocean next month it will actually land on the moon it's a major program for na sachlt it's a major program for the space sec to they estimate $40 billion has been spent so far from 2012 to 2 2021 the big co

i'm morgan brennan here's what's ahead. markets next test. results from major retailers could determine whether last week's big gainless continue from walmart to home depot to target and macy's. the keys to watch as this unfold. >>> plus, crude up about 15% and china relaxes covid restrictions, will demand from the world's second largest economy send energy prices surging? a lot to cover this hour brian? >> yes do. thank you very much, morgan. all right. guess what else is surging well, okay stock market's not surging, but it is up and it was down earlier. nasdaq in the last hour turning positive the dow on its highs for the session. it is still building or trying to build more off of last week's big gains. dow up half a percent. 181 points s&p up even the nasdaq down a lot. more than a point earlier today. higher as well now yields are high are in the bond market, but off session highs. almost a perfect correlation yields go down yields go up market goes in the opposite direction. yet fed vice chair brainard saying earlier may soon be approp

. >> morgan brennan, thank you very much. we're keeping a close eye on the headlines, the "a.p."eporting on an official says russian missiles crossed into poland killing some people. there's a lot we don't know, folks. we're going to confirm everything those headlines taking the market down in the last 30 minutes or so. the dow is down 82 it was up 450 at one point today. the nasdaq is positive the market's not reacting too strongly, but you do have a senior spokesperson for the polish government saying their're convening a national security meeting again, a lot happened now. very fluid we'll get you more as we know it on cnbc. this is morgan's space the defense stocks, they're moving higher right now. i think, morgan, it's not hard to put two and two together if you've got a potential even accident with a nato member and russians. >> as ap is reporting, just a few moments ago i got off the phone with the senior defense officials. the u.s. is assessing the situation. it's my understanding we are going to be seeing a press briefing in the next hour, and that this is being looked a

i'm tyler mathisen along with morgan brennan 24 hours to that big fed decision another three quarters of a point hike is expected from the central bank so will its fight in four decades against inflation actually come at the expense of jobs we'll debate the fed's strategy. plus, retail risk. all over the place fed rate hikes, floating rate debt becomes more expensive. and that can be a blow to retailers' balance sheets. we'll look at the companies that are most exposed morgan >> well, tyler, stocks are starting november with a declines as tomorrow's fed decision does loom the dow, s&p 500 and nasdaq all in the red off the lows of the session. off the highs as well, i might add. we did actually start this morning with gains shares of meta spiking in the last hour. still following comments from an sec commissioner that the government should ban tiktok those comments came in an interview with axios shares of snap moving higher on that report as well. and ahead of tomorrow's fed decision, the yield on the ten year treasury right now it is hovering around 4%, 4.052% to be exact. tyler? >>

eastern time. >>> defense is in focus, geopolitics, ukraine, china continue to make an impact morgan brennanoins us. >> general mark milley, top miller te military adviser to the president. you just rang the opening bell as we get ready to celebrate veterans day let's start there. >> thanks for having me. it was important, i think, to get up here on veterans day. a quarter of a million veterans in new york city i spent two years of my life and i'm proud of this city so i wanted to get up here and share this day, veterans day and i think we as a nation are grateful we as a nation are thankful for what the veterans have done. it's a great day to celebrate. >> absolutely. let's get to the current geopolitical environment yesterday ordering a retreat from kherson we've seen putin and sop diplomats walk back nuclear weapons in recent days your assessment of what is currently going on on the ground right now, and i ask that on a day where we did just get an inflation reading. we know the conflict there has impacted economic data here. could we potentially be seeing the prospect of an end to this c

. >>> thank you and welcome, everybody to "power lunch" along with morgan brennan i'm tyler mathisen here's what's ahead. china's covid chaos. protests mount against the country's virus restrictions the effects rippling through global markets on this monday. we will look at the impact on stocks, commodities, tech and american companies operating in that country >>> plus, inflation looms over holiday spending we'll talk to a former industry insider who says it may be time to bet against, against, the consumer morgan >> tyler, stocks at session lows now. protests in china injecting fresh volatility into the market with the dow down about 1.3% now. 437 points s&p down 1 point 4% 4970 falling below the 4000 mark and nasdaq down 1.3% now a volatile day for crude energy stocks worst performers in the s&p as well, but in terms of crude it is lower from earlier on the ses, unrest in china it's turned higher midday, though, after the oeurasia grou considering a new high jumped up 1% to 77 and change for wti crude. finally treasury yields recovering from earlier lows ten-year yield now trading

i'm tyler mathisen along with morgan brennan 24 hours to that big fed decision another three quarterse central bank so will its fight in four decades against inflation actually come at the expense of jobs we'll debate the fed's strategy. plus, retail risk. all over the place fed rate hikes, floating rate debt becomes more expensive. and that can be a blow to retail

. >>> i'm tyler mathisen, along with morgan brennan.ad, stocks having a hard time figuring out what to do after the huge rally. is the fed going to take their foot off the brakes. are valuations cheap enough, especially in big tech, and the other shoe falls for that company called ftx probably not going to see that on umpire's shirts next year in major league

morgan brennan has the day off the bulls are trying to see what they can assemble before the holiday.> we are 30 minutes into the trading session. here are three big movers we are watching starting with zoom individual yoeshgs tumbling after giving weaker than expected guidance for the current quarter. the company did beat on earnings, but overall growth has slowed considerably. on the other hand, check out best buy, surging, beating on the top and bottom lines the company also raising its full year forecast that stock is still down more than 20% year-to-date even after today's 8% pop another retailer popping, amber crom by and fitch. it's up 15%. reporting unexpected quarterly profit and beating street revenue forecasts. don't miss an exclusive interview with the ceo of abercrombie & fitch later at 3:00 p.m. eastern time. >>> stocks mostly higher, trying for the second gain in three days yesterday on "closing bell," cleveland president mester said the fed policy is beginning to do its work. >> our policy by tightening monetary policy, our aim is to slow down and moderate demand so it

i'm carl quintanilla with morgan brennan live at post 9 of the new york stock exchange.nes as we keep our eye on the earnings that are about to hit the street over the next few sessions and the continuing evolving story in china. consumer confidence out a couple of seconds ago rick santelli's got it good morning, rick >> yes, these are november read from the conference board. we're expecting 100 on the headline number. 100.2. that is the smallest since 95.3 in july. if we look at the present situation at 137.4, that is the lightest level going back to, well, let's see. how about april of last year april of 2021. finally, on the expectations, 75.4, following 78.1 that is the lightest level since july of last year when we were at 65.6. these numbers are a bit of a disappointment all lower than last month even with slight revegss. morgan, back to you. >> rick santelli, thank you. >>> we are 30 minutes into the trading session. laggard on the s&p 500 after jeffries downgraded to underperform from hold analysts writing, ev bidirectional charging is a game-changing technology

i'm carl quintanilla with morgan brennan, david faber at the new york stock exchange. billion in m&a, rumors of a china reopening and plenty of data let's get to rick santelli >> we also have job openings, labor turnover known as jolts, that is september read we're expecting the number to be under 10 million we are wrong this is a nice beat. it's a million better than expected, 10,717,000 follows at yet unrevised 10,053,000 an improvement there once again, this is the second reading, though, under 11 million. slight revision coming in, 10,280,000 the revision is about 230,000 higher now, construction spending is up 0.2. that breaks a streak of down two negative months in a row, down 0.7, gets upgraded to only 0.6 up 0.2 is the first positive number since june. ism manufacturing for the month of october expected to ab in expansion territory and it is just barely. 5 50.2 follows 50.9. we have yet to do a sub 50 last time it was sub 50 was in may of 2020. if we look at the prices paid component, 46.6, a nice drop very big drop. we're expecting a number closer to 53 on new

i'm david faber with morgan brennan and mike santoli we're live at the new york stock exchange take aere you have it. down across the board. morgan >> all right well, we are awaiting that fed decision later today so perhaps the reason we're seeing a little bit of weakness right now, we're 30 minutes into the trading session. here are three big movers we're watching specifically. estee lauder, the shares are following after the beauty company issued a weaker-than-expected outlook citing a weaker dollar, weakness in the u.s. and inflation and recession concerns apparently are crimping demand. those shares down 6% check out match group, surging this morning after strong results thanks to a boost in paid subscribers for its tinder app. that's news welcomed by in investors from a dating service company, stocks still down more than 65% since january as you can see, up 9% in trading. cvs health also in the green after a beat on both the top and bottom lines it raised its full-year guidance, the second quarter in a row it's done that cvs agreed to an opioid settlement totaling about $5 billio

i'm carl quintanilla with morgan brennan and david faber at post 9 of the new york stock exchange. >>porate results. and then more granularity on what may be a chinese reopening. we'll see. >>> we're 30 minutes into the trading session. here are three big movers we're watching this friday morning starbucks reporting profit for the latest quarter sales hitting a record high. in the u.s., pumpkin spiced latte, fancy cold drinks >>> doordash, higher with strength in orders and better than expected revenue and reporting a quarterly loss wider than anticipated, they are up 11%. >>> twillio the maker of customer engagement software shares are down more than 32% right now. they're down more than 80% year-to-date the ceo is coming up in the next hour on "techcheck." don't miss that. >> yeah, a number of software company's shares are under significant pressure >>> let's get to steve liesman we have headlines from boston fed president susan collins and your reaction to the jobs number steve? >> susan collins saying she expects additional increase to the funds rate in the months to come she expe

morgan brennan has the morning off. dow shooting for its highest close almost going back to april.the data out of the way before the long holiday. let's get to rick santelli >> our november final read on university of michigan sentiment expected to be around 55.0 impresses up, impresses us at 56.8 remember the low area there was 50 in june of this year. as we look at current conditions, 58.8 -- 58.8, that's the best number since october when it was 65.6 of course, since this is a final read, the previous numbers for this will end up being 65.6, and finally expectations, 55.6 so we improved all the reads from what was the mid-month reads, and this is a good thing. let's look at the inflation index, shall we? the one-year inflation, 4.9% the high watermark there was 5.4. that was in march, the highest since '81. we are reversing if we look at five to ten-year, it's at 3% 3% we've had several times do keep in mind 3.1 is the high watermark going back to 2011 we had that twice, the most recent being in june finally, new home sales expected 570,000. that seasonally adjusted annualized u

i'm david faber with morgan brennan and mike santoli carl has the morning off markets right now withutes into the trading session. here are three big movers starting with jam smucker despite an earnings beat the maker of folgers coffee and smuckers jam have seen sales grow but thanks to higher prices and continued strong demand. you can see shares are down 1% carvana, those shares are tumbling again as well amid growing concern from analysts that the none line used car dealer could run out of cash within a year. argis research downgrading the stock to sell. it's down more than 95% just since the start of the year. we will end with another name that's also under pressure, coin base, continued weakened in the wake of ftx bankruptcy the coinbase is down 5.5% now, down 30% just this month down more than 80% on the year >> shares of disney are one of our big focuses this morning a stunning announcement, 10:00 last night, bob iger, long-time ceo of the company, 15 years at the helm of the company who stepped down as chairman less than a year ago, reclaims his old job as ceo effectively imm

i'm carl quintanilla with morgan brennan and david faber at post 9 of the new york stock exchange additionalo yesterday's downside reversal. higher yields are at play, and ongoing worries about what the fed may do we have more data crossing the tape rick santelli has that >> expected to be up 0.3 of 1% delivers, up 3%. transportations weakens to minus 0.10, so we could see transportation was a positive and if we look at durable good orders on the headline, expected up 0.4, just like factory orders our september final read remains up 0.40% strip out transportation, it remains at 0.50% when you strip them out, you see the weakness eric kraft, another disappointment down 0.4 but bigger than mid-month, down 0.6. ismservices, remember, s&p global services was on the fourth under 50 read 4 under 50 the ism services pmi here for october is 54.4. so, it's still above 50, less than expected. less than the rear viewer mirror and it is the lowest level since it was under 50 going back to may of 2020 at 45.2 is the comp here even though it is above 50, it definitely is deteriorating very similar to s&p

i'm carl quintanilla with morgan brennan and david faber.ll this afternoon, adp, gdp, chicago pmi and now jolts. let's get to rick santelli. >> job openings and labor turn over expecting a number around 10,250,000, very close, 10,334,000 this is the lightest numbers since just august, 10,280,000. this number really does underscore the notion that pre-covid we were at 7 million job openings even though this has come off the high watermark, the all time high going back to inception in 2007, it was march of this year, 11,855,000 so we've come off, but we're still, what, over 30% higher than we were pre-covid and interest rates are coming back off. we saw some solid gains on consumes as you pointed out earlier. core pc hotter than expected the horrible chicago pmi and we're not done yet pending home sales for the month of october hitting the wires, and for that we turn diana olick. diana? >> pending home sales in october dropped 4.6% from september, just about along expectations, but down 37% year over year. this is the fifth straight month of d

i'm carl quintanilla along with morgan brennan and david faber. >>> retail is a big conversation on thisday but watching the lockdown in china dow up 140 coming off the highest close in seven months. >> 30 minutes into the trading session. here are three big movers we're watching this morning. we'll start with activision/blizzard, that stock is sliding on reports ftc will block microsoft's buying the video game publisher. >>> tesla recalling more than 80,000 cars in china over software and seat belt issues. those shares are trading down 0.50%. >>> manchester united those shares are surging following reports earlier in the week it's considering strategic options, including a possible sale. the stock is up more than a 60% this week alone. it's up 13.5% right now. we'll see. >> not a lot of liquidity. big day, by the way, uk/u.s. later in the world cup. >>> let's move on to apple their products are usually in high demand on black friday but supply chain trouble could lead to weaker than usual sales this holiday season seema mody is on the ground. >> reporter: we are at apple's flagship stor

i'm carl quintanilla with morgan brennan, david faber has the morning off.ded our way with powell at brookings and eco-data, software earnings, retail data and watching the china protests as well at the time, dow down 150. >>> 30 minutes into the trading session, three big movers. apple under pressure saying they could see a showfall of 6 million iphone you can see shares are down 1.5% news out of china not pressuring every sector the macau casino operators rallying after the chinese government gave them provisional licenses to continue operating wynn and los angeles sands are trading lower but melco is up 8% b biogen down after a woman in the alzheimer's test died. you can see shares are down 2%. >>> let's begin with the latest from china protests erupting over the covid lockdowns eunice yoon is on the ground in beijing with more. good morning again, eunice. >> reporter: hi, carl. some good news out of the city that sparked the protest the far western city said it's resuming more public transport as well as delivery services as of tuesday as local officials

i'm carl quintanilla with morgan brennan and david faber at post 9 of the new york stock exchange lookingor follow-through to the cpi bounce yesterday but new developments to look at today, including ftx chapter 11 and china reopening on different parameters. >> and the bond market is closed today with veterans day. >>> here are three big movers we're watching intel, jpmorgan downgrading from overweight to underweight saying the company will benefit from an overall industry rebound but at a slower pace due to competitive pressures. we have more on the chip sector later this hour. you can see shares are down 1%. >>> another blue chip name, walgreens, rallying. upgraded from buy to hold saying it's increasingly confident in walgreens' strategy to transition to a health care services company those there's are up 3.5%. >>> we're watching aerospace and defense stocks l3harris and huntington both getting downgraded l3harris down 5.5%, but defense names in general under pressure as ukrainian forces enter kherson as russia retreats from that city in ukraine yesterday chairman of the joint chiefs

thanks >> nasa's new moon rocket lifting off early this morning morgan brennan joins us now on the longthe charm, joe. 1:47 eastern time this morning nasa's mega moon rocket blasted off from kennedy space center. >> three, two, one, boosters ignition and liftoff of artemis 1 we rise together, back to the moon and beyond. >> the historic launch ushering in a new era of american space exploration, kicking off nasa's artemis program. 50 years after that final apollo moon landing, the artemis 1 marks the debut of the agency's space launch system, sls, now the most powerful rocket ever flown. it launched the orion deep space capsule, which will embark on a 25-day journey around the moon before splashing down in the pacific ocean next month it is undergoing tests before astronauts climb on board. first in 2024 and then if all goes according to plan, again in 2025 to actually land on the lunar surface. so, check these out. we got the first images from orion of earth, and of space this morning as that capsule begins its journey around the moon and artemis is a major program for nasa it is also

brennan. thank you so much for joining us. we saw the star-studded opening ceremony. morgan the k-pop group bts all took part, but this comes on the backdrop of many human rights, very serious human rights controversies. how worried are you as the tournament unfolds, that these concerns about human rights will take a back seat to the matches and the excitement and the gam more of the world cup? >> paula, i think that the story lines that we've had before the world cup, now, of course, 12 years in the making, with qatar being named controversially all the way back in 2010, i think the story lines will continue. some of the players will bring them up. there will be continuing stories of fans, people protesting, conversations, so i don't think this will die, just as we saw with the beijing olympics in february, the story lines there, whether covid, human rights violations, they kept going throughout the games. i think this will be the same scenario here for the world cup. >> fifa and qatar have been trying very hard to control the narrative around this tournament. they haven't