tesla says the cyber truck is now making money. >>> boeing and tesla moving down in different directions with boeing off the biggest daily drop in six weeks. it's thursday, october 24th, 2024 you are watching "worldwide exchange" here on cnbc >>> good morning thank fors so much for being wih us i'm frank holland. we will get to the stock movers in a moment. take a look. a bit of a mixed picture here. the s&p up fractionally. up almost about .50% on last check. the dow would open 40 points lower. it's really the nasdaq up .75% of 1%. keep in mind, the dow and s&p are riding three-session losing streaks. we are checking the bond yields. coming up, we will dig into why the fed's path of lower rates is not translating into lower yields why a trump or harris victory to mean for the ten-year. 4.20 since the fed rate cut, the ten-year yield bump up important to note, the two-year yield above 4% >>> we want to do a quick check of nvidia and apple after a rough day for tech a 2% drop for apple and nvidia a bounce back this morning apple up .25%. nvidia up 1.25%. >>> let's get to the breaking news

o oracle and tesla.ery much. >> thank you. >> tomorrow, we close out the best idea was malcolm ethridge with capital area planning group. >>> coming up on the show, we tee up the trading day ahead and the signs our next guest sees with earnings season. we will be right back after this break. i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ameriprise financial. at betmgm, everyone gets a welcome offer. is advice worth talking about. so whether you're courtside trying to hit the over... or up here trying to hit the under. whew! or, hitting that win with your crew. ohhh! yes, see defense! or way up here with a same game parlay. yaw! betmgm's got your back. get your welcome offer. and play with the sportsbook born in vegas. all these seats. really? get up to a $1500 new customer offer in bonus bets when you sign up now. betmgm. down

tell me about gm up 40% and byd overtaking tesla. and listen again i'm a tesla fan.r. liz: what does that have to do with the price of tee in gm might be the smaller and taller in the room. liz: charlie. tons of earnings after the bell, folks. capital 1, boston beer, deckerss outdoors and john vandemore joining me tomorrow and ups in the 1309 light at this sure and shares of shipping giant popping five and a third percept and revenue beat for the first time in two years. >> they hit that trough and we have to ride all the way down and they're a strong operator and refreshing to see the market realized the pricing power they have and once they got that back after the teamsters strike, there'll be plenty strong going into peak this year. macro econ economics and yieldse edging up higher and people are not jazzed to get off the risk asset and that's about it. liz: dow down and big e losing streak and green for s&p and nasdaq and tesla pumping up both and russell 2,000 in the green and that's it for us. does low is next. kudlow is next.

rowe price head of investment strategies david jerusalem and later, were days away from tesla's highlyed hollywood unveiling of a self driving a taxi and that what's at stake it for elon musk of the coming but we panel everything's investors are be thinking about right now, my colleagues jack elizabeth o'brien subject to come of sox were off to kind of the week week and suddenly the jobs report came out in the wages are going than inflation everybody is happy. jack: stocks to come back crude oil the biscayne since march, this is anticipation of israel potential retaliation against iran to the jobs report from a much better than expected, evidence that the economy is in decent shape and that's good and if you were expecting another half-point rate cut, and november coming might need to start think about it one point cut year to date the s&p 500, is up 20 percent if you want to street commentary say the index looks expensive the 24 times earnings thing a lot of investors say that you have been telling me that for years whether you have not listened. jack: some socks know about morning sp

ed: tesla shares up 19%. the s&p is down. fun stat.ous biggest gain tesla posted on a day where the s&p was down was 7.5%. we are up 19% now. a big part of it is the autonomous future. how much have you looked into fsd and how much does it resonate with the consumer? jessica: it's not for everybody at this time. people like the idea. who doesn't want their time back? in the next few years, are people ready for it? some people like it. you will have a lot of opposition, people who feel like they are being subjected to these vehicles on the roads that they did not ask for. getting the public ready is a big hurdle that we are not talking about. we are talking about the tech and regulatory that has to be solved. but these will be in our streets and there will be concern out there if we don't talk about how this works. caroline: regulation is something musk was talking about potentially pushing forward if he gets a role in the next administration. a lot of ifs. the facts of this quarter, do you believe the targets outlined on the call will

a big day for tesla. there's pieces of information that are surprising and that will be exciting for investors. but let's talk about the reality of them. it is a big surprise that cyber caps robotaxi will be sold directly to consumers. it will be available for purchase. as elon musk says, it will be available for below $30,000. he said it will go into production in 2020 six. however, elon musk is often wrong in his predictions, about the timelines for products coming to market. often when a tesla product comes to market, it's at a higher price point than he stated on stage. so i would put that caveat in there. the other thing i would say is, it's a prototype. i have 20 of them right now. remember that we reported they had actually delayed the event from august to october. one reason is, they just wanted more to show for it. they've got 20 versions to show for it. it is interesting. the other thing you mentioned, the robo band, that is a big surprise. you are looking at it on your screen right now. haslind

tesla shares soar on the news.he imf tells the bbc tariffs could spark a trade war with huge global consequences. you could end up with a loss to gdp of close to 7% of these are very large numbers, 7% is basically losing the french and german economies, that's the size of the loss. mcdonalds loses billions of dollars in share value after its burgers are blamed for an e—coli disease outbreak. and how to make rice production more sustainable — as the industry sends millions of tonnes of methane into the atmosphere. we talk to the boss of tilda. live from london, this is business today. i'm sally bundock. we start in the us where striking workers at boeing have rejected the latest pay offer and opted to continue their strike action that has lasted nearly six weeks. the news comes as a fresh blow to the chief executive of the aerospace giant, kelly ortberg, in his attempts to turn around the embattled company. boeing offered the striking machinists a 35% pay rise over four years in a new contract proposal they hoped wo

october has been tough for tesla.he company fell short on q3 deliveries and failed to impress with its robo taxi reveal. the ev maker reports after the bell my next guest says 2025 ain't looking too good either. his $120 price target is one of the lowest on the street, 44% downside from the current price. let's bring in tony, welcome to you. and the problem with tesla, it goes through periods where it makes the bulls and bears sound like geniuses, but never one consistently >> good amp, kelly yes, it's a really tough stock to trade well. and sentiment shifts largely on what elon musk is saying and what investors are hoping might happen based on those statements and so tonight, when you get real results, we know what deliveries are going to be i think investors will be focused a little bit on where margins are, which are always a key question tesla's had to be more aggressive in its discounting and financing over the last several quarters, so investors will look at automotive gross margins x regulatory credits, that's

, you know -- tesla's used to pressure they don't need tesla right now. need time to work on it it's way too late. >> it's been five years. you said discontinuing the car probably helps them. craig, for now, thanks we appreciate your time. craig irwin. >>> sticking with the ev space, shares of evgo are soaring 60% after it receive d it joining us is badar khan welcome, and why did you qualify for this assistance? >> thank you for having me we've been in business for a long time. we've been building infrastructure over the last decade infrastructure we're building today is high quality, fast, and has chargers, which means you can charge your car. for all of those reasons, we were well placed. >> your excellent pr people have probably told you -- as an ev buyer myself, i've been a little more critical of the industry. if you joined today and i'm looking at a note here that basically says there's a possibility that sort of this semi-negative macro sentiment around evs is masking your own strong operational performance, do you think that the sentiment around

to tesla and a very different story, some optimism, positivity when it comes to the tesla story. shares have jumped in late trading after a surprise blowout. elon musk added $80 billion to the company's value after strong quarterly earnings driven by cyber truck sales. musk also rolled out his plans to rollout ridesharing next year. >> texas is a lot faster. we will definitely have it available in texas, and troubled we have it available in california. states actually next year as well. out is katrina nicholas, bloomberg's transport editor. break the numbers when it comes to the tesla earnings, a beat on the top line and if you as well as volumes. >> this was a blowout quarter for the electric car maker. it's most profitable results in a year. third-quarter sales were bullied -- buoyed by sales in the separate truck and a spike in regulatory tax credits other automakers pay to meet their own emissions rules. for the third quarter tencent reported adjusted earnings of $.72 per share, and third-quarter automotive growth and margin excluding does regulatory tax credits came in at 17

-- there he is -- tesla shares are under pressure, why?ell, elon musk's razzle-dazzle robo taxi unveil seems to have failed to impress investors. >>> and the bull run turns 2 years old tomorrow. the s&p is up 61% since that bear market low in october of 2022. carl? >>> let's begin with the reaction to these quarterly results from the big bank. maybe the biggest surprise is this nii gain at jpm. >> that's terrific. by the way, we can talk about wells fargo nii next quarter is what matters. that's why wells -- one of the reasons why wells is looking up. i want to take the other side of the futures trade today. this is a big day. we had ppi was good. we have the futures looking a little soft. interest rates are obviously not cooperating yet, but so many times, we've been in this situation, carl, where we have had good banks, good numbers, and then people start selling them off as the day goes on. i say if we have that again, just buy them, because i am very impressed, blockackrock, not rey a bank, but in some ways it is. wells fargo, nice ups

tesla shares down 8.25%. a huge crowd at the warner brothers studio last night to witness the relationship rollout of elon musk's cyber cab. there were dozens of driverless teslas along the fake streets of the studio lot. no drivers. no steering wheels. no pedals offering up rides to those on hand. musk also rolled out the futuristic robe o van which he pronounced robovin, seats 20. no driver and then an army of robots which musk promises will do anything and everything you need them to do. the entire event worthy of a hollywood production. >> ♪ ♪ >> [applause] ♪ >> welcome. welcome to the we robot party. we want to have a fun, exciting, future that if you could look in a crystal ball and see the future, you'd be like yes, i wish i could be there now. we do expect actually to start fully autonomous fsd in texas and california next year. >> [applause] >> but if you think about the cumulative time that people spend in a car, and the time that they will get back, that they can now spend, well i guess on their ph

tesla's strong quarter has helped to lift sentiment for u.s. stock futures after a week trading session. avril: you think about it going into the earnings scorecard, the expectation from consensus was that tesla would fall further behind big tech. it is seen as the weakest link among the mag seven, so having these earnings, beating expectations, we have seen a strong quarter, we are seeing that lifted by sales, helping to boost sentiment, but we also know how tesla does have a tendency to overpromise, under deliver, and if you think about how the recent robotaxi, that announcement was a flop, that really holds the scrutiny that investors wanted to see that it was doubling down on the bread and butter business of electric vehicle sales. let's take a closer look at the numbers because this is the first beat in five quarters, the bar was slow going into this because estimates have about half an the past year, and if you think about elon musk, he is promising delivery growth of 20% to 30% within the next year, and there is talk about ride-hailing i

listen, i wasn't expecting this massive run-up in tesla going into earnings. you can kind of drill down and ask yourself, is this an ongoing margin expansion, which is what they reported, or a one-time thing related to batteries i'm in the latter camp, i would say gm for the short term. i think the concern around tesla, at least for me and a few others, was that ultimately it was going to lead to an erosion of margins and searessentially a with u.s. manufacturers and chinese manufacturers. it seems like everyone has rolled back their commitment to evs. i think over the long term, particularly if you're able to get a pullback and find a re-entry point, i think tesla because it has the potential for growth and innovation and the competition has seemingly fallen by the wayside. >> when it's election season, we talk about baskets of stocks that are republican or democratic where does tesla fall? and i sort of ask that because he's aligned himself with donald trump at this point. so, has it benefitted from that run-up in the trump basket that we've seen >> well, it

without that tesla is back to be an automaker. all that said, i've been following tesla for a long time and the best time to buy is when everybody is downing elon musk. we heard from jenson wong that musk is investing in autonomous infrastructure. i would not be a buyer after that event. i would not short tested either. it is way too dangerous to bet against him. even though the robo taxi event was gorgeous, we did not get enough detail to justify treating it like an anonymous business. for now, i recommend staying on the sidelines with this one. there's not enough specifics to hang a hat on. >>> mad money is back after this. >>> coming up, is this company the belle of the ball? cramer gets his reps in on a power stock that is packing the protein. tax smart investing today, helps to build a stronger tomorrow. at pgim custom harvest, our unique direct indexing approach seeks to help investors achieve better after-tax outcomes. pgim investments. shaping tomorrow, today (man) look at this silly little sailboat... pgim investments. th

tesla says the cyber truck is now making money. >>> boeing and tesla moving down in different directionsboeing off the biggest daily drop

should i trust tesla?ve that question about other brands, and that still says something regardless of his political leanings. >> steve, in what you collected, was there any evidence that people were shying away from purchasing teslas? >> it's hard to make that correlation to phil's point, and i'll go back to "the wall street journal" story in connecting the dots, it's impossible to say. we have the polling data of nbc about the favorability about musk himself. what i will say is he's been holding major ceo -- he's the only one of the magnificent seven companies that we talk about so often that's out there actively and explicitly campaigning for one candidate or the other. so i think that's just also interesting to see how he's spending his time in context of this incredibly important event that he's been teasing for the last five or six years that this is what the future of the company hinges on and we're expected to get details on that tonight. as questions come up about how he's spending time among the c

tesla and its new autonomous vehicle. here's nbc bay area's audrey asistio with that potential partnership. raj. and yes, i spoke with a council member tonight who says the city shuttle service isn't sustainable. this while tesla needs a place to test out its self-driving cars. so the city recently held a meeting with tesla about a potential partnership. and so far, he says, it sounds promising. palo alto councilman greg lin tanaka says he came up with the partnership idea six plus months ago. the idea basically, is that tesla needs to have this robotaxi and they need a place to test it and then in palo alto, we have a link where we're trying to provide rides for our kids. and because we don't really have bus bussing for our kids. so we use this link program. and so we need we need this and we're out of money. and so it seemed like a really good partnership. tanaka says, right now, there really isn't another alternative. it's palo alto link. shuttle service is losing about 30 to $40 per ride, and the popular program only

tesla, just under 20%. it is not apples to apples.any point out tesla is an ai and robotics company and it is investing there. how is byd different? what are its product lines? what is it moving toward? danny: byd has very much focused itself on the car itself, so it doesn't necessarily have those wild evaluations tesla has, with that. driving that has been pushing constantly. uid is starting to think about how it is looking to be more savvy with its distribution skills, because on the roads in china it does have this level of automation which could match tesla, frankly. with its scale in china, with all of its learnings, perhaps that can be extrapolated to something more meaningful in a long run. caroline: danny lee, we thank you. despite more than six years of u.s. tariffs, export controls, financial sanctions, china is making progress in positioning itself to dominate the industries of the future, like the one we were just discussing. there is some metrics diving in the key technologies and shows that china achieved a global lead p

shares of tesla are getting slammed after the release of the robotaxi.s&p and nasdaq. >>> we are watching shares of amd. they are higher this morning after closing down 4% after launches its answer to nvidia's blackwell chip. shares up .50%. yesterday's ceo lisa su spoke with us following the event. >> the demand for the overall a.i. landscape is really, really, very excited. we actually updated our view of the overall market. last year, when we talked at this time, we thought the overall market size would be $400 billion in 2027. we are extending that to 2028. we expect the growth rate to continue to be very high. >>> fitch says hurricane losses to hurricane milton will push 50 billion dollars. that will push losses toover $100 billion. >>> we get outthe latest look o inflation with the ppi and the consumer data and ahead of the open, we get earnings from jpmorgan and wells fargo and blackrock. larry fink will have more coming up at 9:30 a.m. we will hear from several fed officials today including austan goolsbee and lorie logan and governor michelle bo

tesla is go down double digits today.rosoft can fall asleep for months as it has, and the index can hang in. >> i'm looking at nvidia, obviously a story of the week, up 8%. and uber getting the reverse of the tesla sell-off today. >> it's sort of remarkable. again, i feel like i don't know why people would have expected much on an instant reflex move in tesla to the upside, and frankly why you would necessarily have been that negative on uber as being threatened by it, but obviously, the was a lot of tactical money that was laid that way. you don't get these kinds of moves otherwise. again, i want to point out, i don't think people hate this market. the positioning data say people are in. but it is just sort of like if credit conditions are what they are, the market is not acting like a recession is close by. if you don't get a recession and the fed is cutting, it's hard for the market to get into bad trouble. >> you have a great weekend. all of you as well. dow is going to be about a 400-point winner today. new high, s&p

and the tesla caught on fire. now, residents were evacuated as crews quickly worked to knock down this fire. now, at this moment, we still do not know exactly what led this driver to crash into that apartment building we just showed you. but a woman i spoke to says that that driver almost hit her as she was driving on this street, and then he just started coming at me. it was like 100 miles an hour, and he was swerving all the cars, and i was just like, oh, and i don't know, it happened. so quick. i just knew it was a white tesla. i don't think is really processed yet. i mean, i'm nervous. just thank god. god was with me. that's all i can say. now, fremont fire says no one was injured inside of this building. but what ultimately led that car to crash into this apartment building is still under investigation. we're live in fremont. pete suratos, nbc, bay area news. okay. thank you. pete. two north bay schools will be closed tomorrow following a threat to one elementary school this morning. sky ranger overhead at pe

here's what's on tap tonight tesla charging higher. the ev maker posting a big earnings beat, but coming in a little short on revenue. we'll go inside the numbers and break down the conference call coming up. >>> plus, a tough day for tech and the overall market the naz dag leading thes los apple hit on iphone demand fears. nvidia and the chips feeling the pain could this be the start of a fall today >>> then, the latest on the e. coli breakout at mcdonald's. go inside the luxury warning, and dialing up a bright spot on a bad day for stocks plus, the ceo of vuori, i'm melissa lee, coming to you live from studio b at the nasdaq on the desk tonight -- tim seymour, karen finerman dan nathan, and guy adami. >>> we start off with tesla. shares of the ev maker moving higher posting earnings 72 cents a share. the earnings call kicking off in a half an hour time. phil lebeau has all the numbers. and margins were a stunner, phil >> they were, and that's the main driver here there is a lot to like in this q-2 report, both in terms of the numbers

what is your take on tesla? carson: well, yeah, i make everybody mad when i talk about tesla.ulls and the bears, because number one, probably no one has ever played the public company game better than elon musk. several years ago, the only letter of ever written to investors, i had this epiphany about tesla and elon musk. there is in life probably a need for a certain amount of gilding the lily. when it works, we call it could -- and we applaud. if it is too much and it doesn't work, the person is derided and occasionally prosecuted. elon has this perfect balance between bs'ing and delivering. ok? the cars drive. the rockets fly. the satellites work. he does these incredible things. does he routinely overpromise? i mean, say things that is hard to imagine he can say with a straight face? yes, he does. but, does that matter? apparently not. so, yeah, no one has played the game better than he has. it is a volatile stock, but it continues to get lows, going back to what i said earlier, and will continue to get flows. what everyone on the bear side missed about it, the arguments w

tesla's long awaited robo taxi event was a big success, just not for tesla.re's another name you don't see here that has pulled miles ahead this the ride share race. we'll have full coverage as we watch these big stock moves. and the ceo of nvidia is everywhere these days. we'll bring you that moment when he crashed our air live. and one of our guests says she would never recommend shorting nvidia. and what if the fed pauses? the fed's bostic floated that idea just yesterday. we'll look at the names you may want to buy or bail on. this is one of our buys on the mist try chart today, up 35%. let's start with the markets and dom chu. >> it's a record day, and aim not going to bury the lead. the record highs in the dow industrials, put the star right up there. also with the s&p 500, both large-cap indexes made record highs. the dow up 316 points, three quarters of 1% advance there to bring you to 42,770. the s&p 500 is up 5809, up about 29 points, half of 1% gains here. at the highs, we were up just around 39 points and down roughly 5 at the lows. tilting toward

this time he was joined by tesla ceo elon musk. the billionaire making his first appearance at a trump campaign rally. the former president will be back in pennsylvania on wednesday for more rallies. >> alice, thank you. >>> two children have been arrested in the attack on a former new york governor. governor david patterson and his step son were assaulted in manhattan saturday night. he said he had confronted some boys who were climbing a fire escape. later patterson says the teens were joined by adults and they punched the father and son as they walked their dog. police say two boys ages 12 and 13 were arrested on gang assault charges. >>> a terrifying experience for passengers on a frontier airlines flight that had to make a hard landing in las vegas this weekend. the airbus 321 reported smoke in the cockpit. when they landed passengers noticed the plane was on fire. maggie vespa has the story. >> reporter: stunning video of a plane on fire on the runway after a mysterious midair emergency led to what airport officials call a ha

but the safety of the company's technology has been a persistent issue for tesla.ator announced that it is opening a probe into the company's driver assistance technology. there's concern that its self—driving ambitions are untested. and then there's the issue of elon musk�*s politics in this us presidential election. he has thrown his support behind former president donald trump. some say that's a bit of a turn—off for would—be tesla customers. we set lily in silicon valley. growth of the size of the french and german economies put together could be squandered, if international trade tariffs persist. that's the warning from the imf. the organisation that monitors financial and economic global activity says heightened trade wars and tariffs would emerge if donald trump 5 plan to levy 20% tax on all imports comes into force if he wins the us election. into force if he wins the us election. take a listen. if you look at the group of g20 countries, the us is the only country where the level of gdp is higher now than we had predicted before the pandemic. we said, well,

we had a tesla rally, they added 153 billion d's.f you take the combined market cap of stellantis and bmw, this was more than all three of those. tom: it is remarkable. it is just one carmaker and it gives sustenance to the view of cathie wood who bet on tesla. indeed. numbers coming through, a miss. he earnings story will be part of the calculation of investors, lackluster session, european futures lower by 4/10 of 1%. ftse 100 lower, snp futures off after some gains yesterday. nasdaq futures are flat after rallying yesterday boosted by a 22% pop. flip the board, relief stateside continues. money moving into treasuries, 10-year below 4.2, yields down, euro-dollar at 108. naugle said the ecb should not rush to cut although he said 2% is in view. brent crude is up and gold off but still above 2700. let's cross over to singapore. avril is standing by for us. >> absolutely. asian benchmarks tracking wall street, japan is outlier and the coalition could lose its majority, concerns about whether this slows normalization. not just about po

one must remember that tesla is still best in class.ompared to deliveries, byd brought up 443,000 in the same quarter. up 2.7% from a year earlier. industry data saying tesla had weaker sales in europe, but strong sales in china. that went up 25% quarter on quarter. that is uptick just quickly, that share price, as can you tell as well, just this year, the is to be price hasn't moved this year, but up 75% from its lows it hit in april, carolin >> that's in anticipation of the robotaxi event a lot to unpack with carl. carl, what was the issue here? was the number just simply too high >> i think the whisper number or consensus is a red herring for the delivery number. when you are tesla and shipping and getting on to half a million vehicles per quarter, one here or there is not enough to move the needle as we saw the stock move yesterday the way i read this, at least, is that investors, you know, you mentioned the 75% run up since the april lows and 35% of that in the last couple months. investors may be taking a bit of profit and bit of

we also had earnings from tesla.at on profits for the third quarter, but it was really its guidance that got investors excited. elon musk�*s company now estimates a 20% to 30% bump in vehicle sales next year. that news sent shares of tesla soaring 12% on wall street. our north america tech correspondent lily jamali has the details. tesla shares were under pressure going into this earnings report because there were indications of the company being poised to post its first—ever annual decline in vehicle deliveries in 202a. that appears to be no longer the case, the company saying it is forecasting a slight growth for this year, and blockbuster growth in the order of 20 to 30% for next year. when you hear about elon musk talk about the company, these days he is trying to position it as notjust an electric vehicle maker but a company that is more focused on the broader array of technologies including artificial intelligence and self driving technology. we saw the roll—out of the cyber cab last month in los angeles. but t

we saw tesla's wholesales tick up. those numbers are wholesales. they are closer to shipments as opposed to vehicle deliveries. we may see support coming into play in the fourth quarter of this year. ed: there are people that say the sell side does not know what it's talking about. this is not about delivering ev's. it's about a future where tesla operates the proprietary, they run and operate robotaxis. next week we will find out whether or not that is true. craig: the counter to that would be this is a company that talked about putting self driving cars on the road, offering a service that would be uber like where you could hail a self-driving car for years now and it has been a half decade since he was openly musing about this. whether or not they are able to deliver that is another question. if they are able to execute and do what others have not pulled off, which is this at scale, of course that would be a massive thing for this company. it's already a massive valuation for a manufacturer struggling to increase sales. caroline: thank you. the

finish look, we know the tesla story. vehicle growth going forward. he said a 35,000 autonomous vehicles a week, he is making, company firing on all sill. ener thes. stuart: we've done that one today, haven't we in what about the new a.i. partnership for nvidia in what's that about in. >> partnering with his what's richest man from india the really build out a.i. infrastructure in india. this is going to be one of the first huge data centers that they're building with that new blackwell chip, the super powerful new chip coming from nvidia. he is now thinking that india will be able to export all of these a.i. data certains to the rest of the world. stuart: is he the guy who had the fantastic wedding? >> i think so. stuart: i don't think how much it cost, it was millions and millions -- >> i'm not cool enough to be invited. stuart: nor me. let's get to ibm. they reported i believe it was the yesterday. what went wrong? they're down 5%. >> yeah. this is sort of a software problem that's doing well because you have that red

i'm not sure people want tvs but they do want teslas. there is something special about tesla when it comes to evs and i think that will continue as he rolls are refreshed models, more affordable models to the masses. i think he's got legs. neil: let me pursue that with you and what it might say about technology. one thing that has been beneath the surface, we used to have those seven tech stocks for tesla, and all the others in the s&p 500. now is the s&p 493 that are doing quite well, as are the tech stocks. how do you play that going forward? >> i apologize for anyone who gets this song stuck in their head but it's like the grease is a word, it's a feeling, that ai, that's automation. that song has been playing in my head all day but that is what we are seeing. i'm really bullish. i'm bullish. you haven't seen this but meta, you look at all the things it takes to power that ai, semi conductors, supply-chain, manufacturing, i'm very excited. this year ends on a high note. neil: i'm old enough to remember that song, no way in heck you ca

later, getting ready for tesla results. and if elon rmusk are fit his morning call into his busy schedule you're watching "worldwide exchange" on cnbc. >>> good morning thank you so much for being here with us. i'm frank holland. we kick it off with a look at u.s. stock futures with the s&p 500 coming off its first back-to-back loss since early september and nasdaq riding a five-day win streak. futures in the red across the board. s&p down fractionally and nasdaq is down as well. we are looking at the dow. it's down 174 points the overwhelming majority of that is due to mcdonald's, shares down double digits right now. we will talk about much more later in the show. dow looks like it would open up 170 points lower at this time. the bottom market checking it out. yields across the highest level since july benchmark 4.23 and moving quite a bit to the upside in recent weeks. we also want to pay attention to europe trying to hold on to some early games as the trading day is getting under way key indices to negative territories.

we will talk more about tesla later in the show.st single day pop in the stock since over a decade. you see right now in the pre-market pulling back a bit. week to date, up over 15%. 16%. huge pop following earnings. surprises in that report have really moved the ev stock higher we are checking the bond market. the ten-year and 20-year here. you see the benchmark at 4.02. moving 50 basis points higher since the fed rate cut. >>> let's get a check of the top corporate stories with silvana henao. silvana. >> frank, good morning the biden administration is launching a brouad investigation into the state of competition and air travel and looking at mergers with the countries biggest players. the white house says the investigation is being handled by the justice department's anti-trust division and transportation department. >>> morgan stanley says ted pick will be the new ceo to head up the board over at walt disney after he steps down at the end of the ear pick took the reins at morgan stanley the start of this year. >>> and elon musk'

, a lot of people buy tesla as a bet on elon musk, honestly.hat is a big part of why this trades also. we will see what comes of the earnings because of that. >> absolutely. if you bought tesla in april, you made a whopping gain of 7% there is a lot for retail investors. another client favorite is ge. why? >> what an amazing story the last couple years. you think what's happened with the breakup. this stock, legacy was always a great tolholding of clients this has come out of it looking fantastic and continues to grow and continues to go to the upside many people have this -- tesla is one on the retail side to be more in and out, if you will in ge, this is one people hold for a longer term. it's been a stalwart for years not a lot in the expected move like tesla, but one people are watching closely. >> some of the most bearish names. you brought us starbucks and walmart. let's cover starbucks. new ceo. a lot of excitement around that. what will that do to the stock >> i think what's been really interesting about starbucks, as you mentioned with

bonawyn, how do you trade tesla? -- i think i'm more of a sell the news type of situation. i think these tend to build up a lot of hoop la, i don't want to be on the other side of gene's call here, but i think there's a large following here that kind of -- it's a evangelical type of draw, and i just don't think i'm buying into that right now. >> same. yeah. i don't have a long-term -- i've never gotten comfortable with the valuation. >> yeah. all right, up next, final trades. what the biggest companies deliver is exceptional customer experience. what makes it possible is unmatched connectivity and 5g solutions from t-mobile for business. t-mobile connects 100,000 delta airlines employees. powers tractor supply stores nationwide with reliable 5g business internet. and helps red bull revolutionize coverage of live events. this is how business goes further with t-mobile for business. >>> time now for the final trade. tim seymour? >> paypal, a 20-month high, and upgrade today. and i think it's going higher. >> karen? >>

producer prices and tesla as well.fter that glossy, but detailed light rollout of the cyber van and the robotaxi. right now, the 500, dow and nasdaq called to open modestly higher. right now, the dow up 12 points. >>> back in europe and the stellantis ceo will announce he will step down in 2026 as the auto giant announced a leadership shuffle which announced the surprise departure of natalie knight. the stock has slummed 40% this year as malaise gripped the auto sector. charlotte is back with us for more on this. charlotte, as we see the stock pulling down 2.3%, it is among the auto loss leaders. give us the story more context. >> the stocks is down 40%. the issues with stellantis and the contract ending at the end of 2024. he announced he would leave with the other changes. he was the ceo of peugot. they had issues in the north america unit because we know they are facing tough competition from those chinese ev makers. north america with the star brands like jeep, dodge and chrysler and ram is where they make most of

and the tesla caught on fire.residents were evacuated as crews quickly worked to knock down this fire. now, at this moment, we still do not know exactly what led this driver to crash into that apartment building we just showed you. but a woman i spoke to says that that driver almost hit her as she was driving on this street, and then he just started coming at me. it was like 100 miles an hour, and he was swerving all the cars, and i was just like, oh, and i don't know, it happened. so quick. i just knew it was a white tesla. i don't think is really processed yet. i mean, i'm nervous. just thank god. god was with me. that's all i can say. now, fremont fire says no one was injured inside of this building. but what ultimately led that car to crash into this apartment building is still under investigation. we're live in fremont. pete suratos, nbc, bay area news. okay. thank you. pete. two north bay schools will be closed tomorrow following a threat to one elementary school this morning. sky ranger overhead at penngrov

tesla's nowhere close to that.e is doing self-driving trials, and we look at that data compared to self-reported data from tesla, because that's all we have available. tesla hasn't provided anything in the public domain, tesla is at best middle of the pack on intervention data. so, i think we absolutely, categorically, cannot say that tesla is the leader from a safety and intervention perspective in full self-driving. i think the hope is, as you say, that ai and their data stream will allow them to leapfrog and get there, but that's not where we are today. >> let me ask you a different question, which is, we were talking about politics earlier today, and elon's support, obviously, of the former president trump. how you think, and i ask it just as a straight-up jump ball. how you think it impacts, at all, if it does, the business. >> i think, clearly, it's a modest negative for the business. i think the principle challenge that tesla has faced is that it has an aged lineup. and most of its cars are relatively expens

tesla is, too, ahead of its own

so what's your take on tesla, david?know, tyler, it's almost like tesla and uber reinvented the bus over the last two weeks with tesla's robo van and uber's group shuttle to new york airports. with this newfound innovation, if you call it that, it felt like consensus was heading into the event it probably was going to be long on vision and short on deliverables. really no investors wanted to be short this event heading into it. if they were wrong, they would be really wrong. tesla fashion, it was a sell the news type of event. this puts the stock in the penalty box because there's no tangible catalyst to drive the business higher in the near term, especially if you look at the core business that will have limited growth and no margin expansion until you get the lower cost model 2 that is coming out, say, 2027. given a lack of catalyst and competition, i'm on the sidelines. >> on the sidelines. let's look at the beneficiary, so to speak, which is uber. shares are soaring today. they have continued to move higher. they're

coming up on this show, tesla set to announce earnings in a few hours time. we will preview what to expect next. this is bloomberg technology. ♪ >> apple ceo tim cook makes a visit to beijing meeting with china's tech czar with a promise to keep investing in the country paid bloomberg's chief correspondent for apple and consumer mark gurman with us. we talked so much about the supply chain in china and china in market. he goes in person at the very public meeting for it what we know. >> around this time executives make it a trek down to asia, the head of marketing in southeast asia tim cook -- they are now in mainland china. typically goes to china two to four times a year. he was there quite often. they need to meet with their providers. he had a meeting with them. continued cooperation with the i.t. minister of china. we are no longer could cooperate in the second third biggest market. this is how things go as big as apple. and government regulators and the countries you work with and work in. and the meetings are part of that. to have such a freedom in chi

. -- tesla shares surged nearly 22% _ card. -- tesla shares surged nearly 22%. card. -- tesla shares surged nearly 22%. the company . card. -- tesla shares surged - nearly 22%. the company expects a 30% jump in nearly 22%. the company expects a 30%jump in vehicle nearly 22%. the company expects a 30% jump in vehicle sales next year. elon musk has added another $26 billion in paper wealth to his net worth. here in asia, japan's nikkei 225 has fallen by around i% this morning, mainly due to uncertainty around the country's elections this weekend. an acute labour shortage is one of many challenges facing the economy with estimates suggesting that the country will lack 11 million workers by 2040. while help may be on the way in the forms of robots, al or immigration, there's a new and growing industry that's forcing change on the country's inflexible labour market. the bbc�*s mariko oi reports. imagine this — a reversejob interview where the worker gets to choose who they want to work for. this short film went viral on social media injapan this year, as the labour c

but the safety of the company's technology has been a persistent issue for tesla.ulators announced it is opening a probe into the company's driver assistance compa ny�*s driver assistance technologies. there company's driver assistance technologies. there is concern that the self driving ambitions of the company are untested. then there's the of elon musk�*s politics. in the us presidential election he has thrown his support behind donald trump, some say that is a turn—off or would be tesla customers. let's turn now to the imf—world bank meetings currently taking place in washington. the us economy has been in focus — with the imf upgrading its growth forecasts for 2025. but concerns are rising over the outcome of the us election next month. the bbc�*s faisal islam sat down with the imf�*s deputy managing director gita gopinath, and asked her if she's concerned about a broad—based trade war, should donald trump get re—elected. if you look at the group of g20 countries, the us is the only country where the level of gdp is higher now than we had predicted before the