halliburton, baker hughes, all up.hes said some of those supply issues, think the rubbers they need, the fracking equipment, all of those supply chain issues, acre he was says it is in the rearview mirror. he can start to work on that backlog more and more. not just for baker hughes, but the industry broadly. does that now mean as they ramp up, the profits will follow? let's talk about those tech companies. some major moves in the social media space. snap chat down 31%. a couple of months ago this would have tanked the market. this idea that advertisers are this macro proxy for whether consumers are going to end up spending. there seems to be some consensus that maybe they will not be. for that reason they are going to pull their advertising. it is that fear driving snap chat shares lower. it is not alone. it has that ripple effect across meta-, pinterest, twitter as well, but twitter has its own story. perhaps down because of those national security concerns and reviews elon musk may have. the white house has since sa

baker hughes is leading the gains. the oil field services company reported earnings this morning beating eps revenue missed expectations still orders and cash flow improved and that is boosting shares eog also a mover following two positive calls morgan stanley upgraded the driller to overweight jefferies initiated with a buy rating. >> thank you for that. >>> a major player in the industry is putting his money behind some clean energy startups and has investments in housing. diana olick is live from the breakthrough energy summit in seattle with the founding and managing partner of cosala ventures good to talk to you. >> thanks. i want to get to it. so much news i want to start with what rick santelli was talking about, bond yields, interest rates rising. how is that affecting the kind of investment you want to see in basically but clean energy and clean tech. >> fortunately investment cycles in clean energy are long term. so short-term interest rates don't really affect investment into the category. there's a lot of

. >> about ge, part of that rally today is baker hughes. they don't own the same piece they used to, but it was an oil services rally that led into ge. >> not just big tech earnings on the calendar for next week, a whole bunch of bellwethers getting ready to report their results. we're showing you the wall we thought this would be the perfect time to play a game after trade it or fade it. supposed to jump in on that. they told me pause leave it in the prompter america's "fast money" game. wednesday the it have bell, dean, you don't seem to like that title i'm giving it to you, guy. trade it or fade it? >> i appreciate it i mean, i was in front of the dean of -- what do they call that when you're in trouble back in college that's another story. >> were you adjudicated? >> that's exactly right. ford, you trade. i have been wrong on this so many times it's not even funny, but if you look where we traded down to and then in the middle of june, short-term double bottom this stock can rally 20% from here and still be in deep you know what. i thin

baker hughes is up despite a revenue miss related to the company's recent reorganization.ng morning, eog as well. they both got upgrades "squawk on the street" will be right back (air tool sound) to help you stay ahead of the curve... or you could use workday. the finance, hr and planning system that helps cfos make better decisions faster. on the other hand, we had a great fourth quarter. for a accelerate your decision-making world. workday. for a changing world. i started as a single mom with $2000 and a passion for new orleans. i'm lauren haydel owner of fluerty girl. today, my tiny online shop has grown into eight stores. we're a must-stop shop for unique nola-inspired gifts. lauren doesn't just create cool nola merch; she creates opportunities. small businesses like lauren's open doors for neighborhoods to thrive. support your community. support small business. - yieldstreet presents: alternative investing with kal penn and older kal penn. - oh, the stock market is doing that fun thing again. - hey news from the future, you're going to live through that about 10 more

you've got baker hughes, you've got liberty, halliburton, many others those are the ones that are going to move it the vanek oil services etf, the official name, that is up 3% and your disaster de jure, that is carvana carvana, the car sales company, sinking 15%. that stock is down 93% this year i mean, you're down 93%. there's only a couple of things that can happen. you're going to zero, you stay here forever, or the stock rebounds, not today, we're down 17% to a $15 stock >>> all right. let's talk about yields, because we are now seeing decade-highs, all across the curve the two-year, 15-year peak ten-year, 14-year high 30-year, 11-year high. but it's not just the actual rates that are the issue it is how fast these rates have gotten to where they are we were just 2.5% on the ten-year about three months ago. and it is not just here in america. it is the same situation in the uk and europe. so what are the second and third derivative effects of this kind of superspike in rates joining us is ken rogoff, former chief economist at the imf and somebody, ken, you and i had long, extensive

below 2019 highs but the permean is rocking energy stocks, same thing as the market today they ran baker hughes, devon, halliburton the biggest winners. pretty much every stock was up any way. guy adami, energy is one place in the green overall you and have i been talking about schlumberger for years it seems to be -- i mean, the numbers are going to be big. but again, the market has not given it a lot of love in the past 12 months it's kind of weird. >> no, listen, tim has been on this i'll say first of all, brian, you do a remarkable job in this space, and i mean that sincerely. i'll say this. we talked about it last week, we brought it up. very quietly, exxonmobil, chevron and conocophillips are all within a earshot of not just their 52-week high, the all-time high that's happening under the radar. if oil would just stay here and go nowhere for the next six months, the setup for them, i still think it's extraordinarily good i believe what's happened with a lot of these names as the commodity got whacked and dan had a tremendous call in the spring, i think people sold first, asked questions l

baker hughes and oneok joe, throughout the course of the day in halftime report and power lunch, we will to dividend investors. joe, we will look at the stocks that are correlated to the oil sector that's coming up later today >> thank you, dom. we will see you at the top of the hour at this point, you have been holding 19,000 on bitcoin. $18,969. you see it down a quarter. risking off. off risking. >> a fascinating argument it has been a little less volatile than the equity market recently >>> in the meantime, when we come back, we will talk right here at the table. pollster frank luntz will join us to better understand how americans feel about the economy and, yes, what it means for the mid-term elections. >>> don't miss the interview with new york city mayor eric ad amoi u jnss in the 8:00 hour a lot going on as we come back >> announcer: sector nomics is sponsored by spdr etfs >>> welcome back to "squawk box. the latest polling from cnbc all america survey showing president biden's approval rating on the economy improved since july, but still trailing low at 40%. joining us right now