demand for caterpillar products he's really strong.s not to say they aren't dealing with supply chain challenges. the company acknowledging that in their press release. but on the demand side, it is so robust they are able to generate sales and offset that quite a bit. it is a question of demand and asking the question will supply be able to meet it. tom: this goes back to deerfield, illinois, 97,000 people and i'm sorry, this is not apple or amazon, you drop a cat piece, it falls on your foot, it hurts. lisa: and you have a lot of experience as you drive your tractor around with your tattoo of caterpillar down your leg. there is an issue of the revenge of the old industrials. you want to think so you have to buy stuff to build them. i wonder what it means for an economy if they are able to pass along the entire price increase and then some to the consumer. what are we left with? are we in a better economy or just a reset to higher prices and revenues are that much bigger? tom: i'm good to go back to rebecca yesterday who hinged it all

caterpillar's always one of the most fascinating earning reports to dig into.ery economy basically around the world but china really in focus this time around. >> i think this is a must-listen earnings call for everyone whether you own caterpillar or not because they sit right in the cross section of this really unique environment that we're in we're going to get color on where china is but the end markets that caterpillar sells into is doing really strong. think of like the commodity producers, the home builders, construction, all of us doing really well. at the same time will caterpillar even have any inventory to sell into because of supply chain issues, because of the chip shortage and on the other side will companies even have labor to buy to fill trucks so, it's a really unique play. we do think longer term that the re-opening strategy is still with the wind at its back for the entire industrial sector and the cyclical trade so, a must-listen to earnings call as caterpillar tomorrow >> i hear you there. and, michael, clearly some challenges that this sect

tom: i want to look at caterpillar here. people in the bond market talk, it is a transitory caterpillar, but i wonder to what. kailey: i think they see a lot of these pressures easing up a bit. for caterpillar, they talk about everything for labor to material costs to freight costs, and yet they were able to report profit 20% above what analysts are expecting. this isn't just a story we have seen with caterpillar. by and large, companies are beating to the upside. they are retaining margin. the average margin expansion is 40 basis points from the earnings propping of this equity market. tom: it does fold into china slowdown. kailey: absolutely. but i think you are also seeing that companies so far, and especially in europe, we were talking to katrina dudley about the luxury sector. tom: look for that out on bloomberg digital. she was wonderful on the persistency of free cash flow. i'm going to start with foreign exchange. a little bit of dollar weakness here. euro-dollar into the lagarde statement, ecb here and 42 minutes, a

, for the investment club, we're not interested in caterpillar.ps is a better way. if you want to invest in infrastructure, it's going to be new corps, that's the one you want to be in. i like caterpillar that's the conclusion of lightning round. >> announcer: the lightning round is sponsored by td ameritrade coming up, it's time this chip shortage stops being something to fear. let cramer help you make it just another data point in your quest to tame the market, next >>> we keep hearing about the semiconductor shortage, about how so many industries are hobbled by the semi business so i got an idea why don't we figure out how to profit from it wall street is terrified that the industry that could solve the chip shortage, which is called the semiconductor capital equipment industry, is about to sow the seeds of its own destruction. historically this is a boom and bust business. right now the concern is it's about to go bust i, on the other hand, i think it's crazy the chip shortage is long term, which means the demand for semiconductor capital equi

and i like caterpillar over deer >> those shares are up nearly 3% so that's kind of one thing to takehis. let's talk domino's which is falling short of third quarter revenue estimates amid staffing and stimulus head winds. here to deliver her hot take in the first "rapid fire" drop-in since early 2020 in a sign of normalization. kate rogers joins us >> in a decade anyone who knows me knows i have a lot of hot takes, kelly. the same for sales declined down 1.9% first decline in ten years on a two-year stack, though, which is what the ceo kept talking about on the call here, up over 15%. so that's still a pretty strong number there some staffing headwinds, you know, causing them to close stores early in some cases, not being able to handle all the orders that were coming in and they also mentioned that the stimulus rollout also impacted them negatively in the quarter the staffing thing, though, was the big focus, and it's what basically every analyst on the call was asking about. they were talking a little bit about automation, removing some of the tasks that keep workers kind of tied u

caterpillar was out, megapsyched until way.on -- i'm not making this up, by the way this is not just an upcycle, david, it's the fourths industrial revolution by caterpillar. megacycle, they're talking maybe second best ever, you have to buy cat. literally this is the moment if you want to buy cat. i am a little more suspect it's levered to the exploration of the drilling of oil we know that's not something people are doing right now china is second. i happen to believe jim is fantastic, by -- >> what's behind this when you call it a revolution something new that's happening that hasn't happened previously? or is it just an acceleration? >> i think sometimes you get -- it's one of those things where it's new and improved. i did not find anything that really made me think that there's going to be a megacycle. >> do you like the stock or not, giving this? >> i like the stock. the return of capital philosophy, and i blanch -- i blanching it notion of a megacycle for a company that's levered to markets that are not growing. they're

>> real infrastructure as opposed to infrastructure bill, i like caterpillar and rentals, the companiest will most likely thrive ubs put a new by today. charles: is acting great the last few sessions. >> the spending on capitol expenditures is just technology, it's hard assets caterpillar correct the companies benefit from that. charles: dan, what you like here particularly as we head into the final stretch of figure? >> i think it's sort of the more out-of-favor, cheaper cyclicals, i think that's the best way to display, the names mitch mentioned, financials i would put not bucket, value names and financials, all those are poised to benefit if we are right about this. charles: appreciate starting to show up with you, two of the best minds on wall street. have a great weekend. now i want to bring an weedy strategy katie falcon, i forgot to give you props, the last time you are on, coming off the bottom and you could tell we were approaching the top. i'm thinking we will hit a double top if we start from maple back, you say forget about it, we're going to go through and read it, you were

kailey leinz in the caterpillar seat, driving this morning. i really do look at the fact that central banks are in the hot seat as they try to gauge higher inflation at a time of slower growth. tom: lagarde has a lot to address. the headline just breaking across bloomberg on german inflation coming in a little bit above. that is a ginormous number come out to 4.6%. then you've got the key statement i see within all of the mumbo-jumbo of the ecb that ferro's expert on. i don't know why he doesn't. rates at the present lower-level lower level out there somewhere. linda ronstadt song come out there somewhere. lisa: basically, the market is pricing the sin. keep singing, tom. we are going back to a normal of low inflation, and this is what is supporting risk assets. the irony of a bond market that has a bearish outlook on the future actually edifying we are seeing in stocks. tom: this is perfectly framed. a red headline on the bloomberg of 4.6% german inflation, and out there somewhere is to percent inflation, according to the ecb. kailey: and the

this morning we're hearing from caterpillar and comcast. we're also hear from merck. and this afternoon apple and amazon are on deck. starbucks is giving workers a raise as restaurants nationwide are struggling. workers with at least two years of employment could get up to a 5% boost in pay. those with at least five years could get a 10% pay hike starting in late january. they're also offering referral fees like a $200 referral fee if you find them someone. the average pay for all workers will average between $15 and $23 an hour by next summer. mcdonald's recently said that some locations have had to close early because of labor shortages. mastercard is launching a new card for people who are behind or visually impaired. the card will be available next year and has physical notches to help people determine the correct way to insert them into scanning machines. mastercard decided against using braille because research has found that many people who are blind actually don't use braille, which is really interesting. >>> coming up next, we're tracking some warmer temperat

i also mentioned caterpillar, but caterpillar is much more related to the infrastructure agreements that we hope to see coming out of washington. >> right. >> so those are the kinds of companies that are going to do well in a low return environment. they are not very exciting, tyler, but i think they are going to do well and they have got attractive dividend yields. >> i would rather be good than sexy hue, thank you, appreciate it man. >> you are welcome >> thanks, kelly. >> as we just heard, supply chain is one of the reasons why some strategists expect lower returns. and the problem is evident at the nation's warehouses. jane wells is in lynwood, california, to explain >> kelly, it's really weird, this warehouse has capacity it should be more packed right now. so check out our drone shots and let me explain what is happening. as trucks come in and drop containers off from the port and then the boxes are supposed to be picked up by other trucks which come in to take them inland but these boxes which used to be turned in a day are sitting here up to a week the reason why there is still p

give ideas to the viewers. >> industrials, caterpillar, deer, perfect example of a tech company.ngs like that, taking the tesla style moving it into industrial equipment. that is one thing. the other thing a lot of these companies using technology to improve the global green footprint. changing the way they use engines, way they do that. on carrier, the hvac systems are a way, from a technology standpoint, one of the things they have been able to do is profit from the standards of trying to get better filtration and also greenhouse gas emissions. if you think about a third of all carbon output comes from buildings and technologies companies like carrier is using to change the way they change the hvac systems will change that dynamic in the future particularly when you see legislation to provide incentives things like that. cheryl: really good picks from you, jamie. i appreciate it. we're all looking to diversify to look at big value stocks and tech names sell off over the past month. jamie cox. great to see you again. we're just below that number, i told you that 323 and change,

i want to point out with caterpillar up 6% for the month, it has significant expoture to oil and mining those are hot topics hitting into cop-26. >> you have two bills. one social spending. >> build back better >> the other is the infrastructure bill. >> correct it needs to go through the house. >> and there are snags there, because the aoc wing in the house. >> progressives. >> progressives will not go for the one unless the other is passed >> you got it. i know it is a little confusing, but if you're an investor paying takes to names, that's why you've seen the volatility we've passed something or this is going to happen and they decrease the amount. there's been a lot of volatility, but they could stand to benefit keyword could. >> and there's so much else going on with investments that there's multiple levers to pull here >> thank you >>> getting in the squid game. there's a meme coin for everything these days. dogs, tiger king, and even sd meki we'll explain after this sales are down from last quarter, but we're hoping things will pick up by q3. yeah... uhhh... doug? [children laug

maria: i mean the reason that i caterpillar better-than-expected quarter the stock up this morning caterpillariously, construction, big heavy machinery operating all are on the world a good sense especially where markio destroyer is federal reserve meeting happening next week we are expecting fed chair jay powell to signal it is time to taper. amid inflation concerns, but victoria the economy has slowed even if the caterpillar numbers don't say that, do you think the fed's plan eases up a bit do they change the taper plan given the fact that we are seeing o growth expectations come down? and worries? move? >>. >> a i don't, i think we might see a opposite in the coming months, and that is because when we look what is happening globally you were talking atlanta fed a quarter percent or so for gdp that number will come out in a little bit. but i think what people maybe doing is underestimating the growth poengs going forward after in a delta variant through a monkey wrench in third quarter a strong balance sheet looking good, and o globally growth should come back as well, then i think we are go

cater caterpillar. mixed picture.ted revenue, saw a lot of results positive across major operating units. more machinery demand and, of course, because minerals and teerms and commodity prices are so much higher encouraging people to go out and mine more caterpillar helped log an that and still down roughly 20% from highs seen recently over the course of last year. then, two stocks everyone's watching today into the morning. i should mention apple and amazon both up a half to three quarters percent now in the pre-market trade both of these companies out with earnings result after closing bell today and both underperformed apple up 13% amazon only up about 5% on a year-to-date basis they track closely still, apple and amazon, becky, certainly key focal points for traders to watch in trading today. see it that legs into something that maybe can imply something for the opening bell tomorrow for these two stocks back to you guys. >> thanks dom. >>> merck reporting results moments ago too. meg tirrell joins us right now wi

caterpillar and merck. goldman sachs and apple. companies. s&p closing at a percentage higher everyone managed to close hire again, everyone was higher the nasdaq also closing at a record-high. first time we've seen this since early september perfect the market got hit in early september. closing up at 1 pena nieto 4% on the day. tesla, amazon, nvidia, microsoft, facebook. others are joining the party beating them by 2% it's beien a laggard get ready. apple, amazon, starbucks, we've got an all-star panel for you to break down these results plus shares of twilio sinking. we're going to talk to the company's ceo if he can tern u turn up the stock around stephanie is still with us f do you think the spending package had anything to do with it >> it doesn't hurt we know what we might be dealing with the numbers don't really matter that much. we're talking about 1 to 2 percentage points. it helps, but it's not something the markets have been banging on it's much of a bit of a chase. today this was about the absence of a market on close

caterpillar is up to a half%. lauren: they are considering 465 points.he mega cycle thanks to autonomous products and new power technologies and caterpillar stock is only up 3% on the year. stuart: that is mega cycle. can you show me ups up 3%? lauren: it is ahead of the peak shipping season. they see start going up 20% to 20% from there. that is the message. you were talking to sean duffy about how to get more truck drivers to take these goods and get them where they need to go at stories. ups, go online, you can be hired in 30 minutes. in 30 minutes time. stuart: assuming you've got the license to drive a big truck at a clean license. lauren: the verifications online and you can get a job. that is the private-sector stepping up to make sure they have the drivers to fix the supply crunch. think about it. that is aggressive. lauren: if you can do electronically that is a big deal. stuart: let's talk about gasoline. they are only eight states in america where the average price of gas for regular is below $3 a gallon. we are going to take you to a new york

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the live close to like here i lost caterpillars, a leather, olga level candle nesbit. i'll give you lindsay finelli make of more beth. it is on the same as the one about the lucy with one of your live together like a novel ve marcella, base gray, and this is pick the list indic novels are comment seldomly wine recorded when it up by the room was really grandma quality book. but of love for my little boys in those me though say it pet peeve of this. yes, pretty lord. overt el paseo canal, apple. you the own. she got them in the article de la visa, alto than i mean other possible from the law comment and sort of got a little precedent. but i guarantee, sadly, alex yonder can be that of pena law, present that uncommon, gallant bit of pick to latino vill electoral dilemma. though. napoleonic three's de delivery soon pro mature medical, our land of your linear competitor may, he could at of his input dentistry, for damascus. and on base more there. oh, no. oh, larosa pu atlas bonder this is the minimum in september that it was mika dorothy, may he quit his 2 hour now the la

general warner seniors must out of the living club. la, la, los caterpillar's, a leather ogre, bravo, candle, nesbit, i'll give you lindsey federal and making more investigators on the same as the authority. literacy recycle. now valencia like a novel v marcella. base re in this. yes. pick the list, indic, novels are comments otherwise recorded. when it got by the room it was really global quality book. but of course for my little voice in those middle dorsey d o this yes, but a lot of will very helpful. there to canal apple. you there when she got them in the article deliveries out of in, i mean, other possible from that all come up and sort of dallas police event, but i guarantee sal alexander can be that the pena law present that come with a little bit of pick up the latino vill electoral dilemma. another one apple politic that is that the libby soon permit you tell me now to call our land of your lives yet he committed i may he could at of his import dentist reform us in by his mother. oh oh, you live close to pu battlers bonder this is the minimum in september. it was me courtesy

one asana must out of the living glow, la la los caterpillars, a leather olga. bravo, candle, nesbit, i'll give you lindsay for melanie, making more investigators on the same as the authority. loosely resentful. now valencia like a novel v marcella base ins. yes. pick the list indic novels are comments otherwise recorded when it got by the room it was really grandma quality book, but of love for my little boys in those middle dorsey d o this yes, but a lot of will very helpful. they are canal apple. you there when she got them in the article they visa, alto than i mean other possible from the lower cabinet and sort of guy little precedent. but i guarantee sal alexander can be that the pena law present that come with a little bit of pick pull the latino vill electoral dilemma. another one apple politic that is that the libby soon permit. you told me now to call our land of your lands yet he committed a may he could at of his import dentist reform us in on pace. mother. oh oh, you live close to pu butler bonder. this is the minimum in september. it was mika doroth

here i lost caterpillars, a leather, olga level candle nesbit. i'll give you lindsay melanie making more investigators on the same as the authority. lucy, with one of your linds have a like a novel v marcella base re ennis. yes. pick the list. indic novels are comments otherwise recorded when it up by the room was really good about quality book, but i'm glad for my little voice in those mendoza in particular, this jamara lord over at el paseo canal, apple. yo, they own, she got them with your ticket number day lisa, alto, the me now the apostle from the law. com that sort of got a little press event. but i guarantee saddle, alexander can be that the pena law present that come with a little bit of pick up the little innovative electoral dilemma. another napoleonic that he's, that the libyan parameter that medical our la vio, lence. yet he committed a messy cooking at of his input dentistry, for a masked and by his mother. oh, no. oh. you live close to politeness wonder this simply made a moon in september. if it was meet cut dorothy may he cross h

they are not the center of supply chain issue we have honeywell, caterpillar, deere.st here >> we don't look at specific names. what i have been doing is having a lot of conversations there about upward revisions there are more downward revisions than upward. it is a great baro meter but usually bottoms out. i'll be watching those names to see if these supply chain pressures are already baked in i've been hearing some chatter >> netflix reported last night there was that strong consumer story that seems to be playing out with a company like that i wonder if that could be something you see from other reporting companies that get set to report from facebook and alphabet next week >> this isn't a comment on those internet names but we think we are hearing supply chain issues. continue og to see the consumer data had lunged. talking about how much cash they had and i think the consumer is putting that strength going forward. >> really fuelling the market. the s&p 500 on stride. tom lee raising target to $4,800 saying we are more in a risk on target >> we are at 4,500 for

and he gets nervous, so his friend chester the caterpillar helps him with simple coping skills. this book really helps them with that. about three years ago, we were in long beach, visiting my in-laws. my husband's dad was actually in the hospital from a biking accident. and because ryeson has

told us just minutes before he left for that venue where the ab lost a place that i should move. caterpillar i sal is not a visible thing here. they are in hiding. some disturbances have been seen in kabul and gyla bad, but they are not present and other places we are paying close attention and we will not let them create and wrist. and our suggestion to them is that they don't instigate fighting inside afghanistan or this. this is an islamic country, there is an islamic government here. foreign forces have withdrawn from the country to has been a major jihad done against foreign occupation. so every one must respect us. and if they don't respect us, they will face a very powerful reaction from afghan citizens and also our forces. we will filter them out and will destroy the hot outs. we have to make it very clear that there has been no claim of responsibility of the attack here in cobble. but this is a group i saw in forest on islamic state of the iraq and it off and levant in horace on province, which is the wider of grandest on central asian region, which has been carrying out these attac

we have more strikes going on. caterpillar catalogue. ah, nabisco, the symphony orchestra of san antonio, texas, the janitors at the denver airport. they're all going on strike. and for the same reasons that their brothers and sisters are going to quit their job, they're angry, they want to change, and they see in the economy, which to them looks like it's taking care of the folks at the top and leaving them in a very bad situation and they're frankly bitter and angry and that better be taken care of, or else it is socially explosive. and it's pretty difficult to argue with that line of thinking. there's been such a focus though on americans getting back to work and we see this increasing number of companies that are now introducing vaccine mandates, sparking warnings that there could be and even larger worker shortage. we know that obviously over the weekend we had the issues with the airlines, which by the way we should say the airlines are saying has nothing to do with that mandate. but we do know that the southwest pilots union is as

caterpillar has said its sales in the third quarter would have been higher if not for the supply chain challenges. the industrial equipment maker says demand is looking strong in the next year, but the supply crunch will make it more difficult to meet customers' needs. let's take a look at the after hours trade, particularly apple and amazon. these stocks are down as much as 5% earlier. they have pared losses, but the late selloff on the back of disappointing earnings reports could wipe out well over 100 billion in combined market valuation from the companies when markets open in the u.s. friday. bloomberg terminal users can read more. let's discuss big tech's big day with ivan feinsmith. -- feinseth. bloomberg watch that could compete with the apple watch. give us your biggest take away from this big day. >> the most important thing is this is all because demand is so strong globally for everything. the key is you could not manufacture demand, but you could manufacture more supply. supply will pick up. maybe there will be shortages of certain items, especially popular holiday toys and

service, he spoke to hel dedira about the threat from iceland have gone to stun thy shed, though caterpillar i cell is not a visible thing. here they are in hiding. some disturbances have been seen in kabul . angela bad, but they are not present and other places we are paying close attention and we will not let them create an wrist. and a suggestion to them is that they don't instigate fighting inside afghanistan or this. this is an islam at country. there is an islamic government here. foreign forces have withdrawn from the country. there has been a major jihad done against foreign occupation. so every one must respect us. and if they don't respect us, they will face a very powerful reaction from afghan citizens and also our forces. we will filter them out and will destroy the hot outs, but destroying small groups with one nor do i sell fighters is easier said than done. although no one has claimed responsibility analysts see patterns with similar attacks which have been taking place in east, in the plan to sun as low. so for example, i saw for a few years back, there were downgraded a lot

it's 191 right now theically the there is an under appreciated value for caterpillar in its autonomousso caterpillar, ups, at&t august on the move, becky, in the pre-market trade right now i'm send things over to you. >> meantime, walgreens out with its quarterly numbers. bertha coombs has comments from the new ceo. >> a big profit,ed a judd earnings of 1.17 per share, 15 cents above expectation. revenues 1 billion above consensus, pharmacy driven by higher vaccinations, while at-home covid tests drove retail comeps one year ahead of schedule i asked the ceo roz brewer about implementing those cuts amid rising costs all around. >> it's been an interesting quarter. i will say the trusts in our cost transformation, it's been a year in progress and it just really has been very consistent focus on how we take costs out of the system and this team has really focused on how we operate. we looked at how do we consolidate the work that we do. we also looked at that day-to-day operations in our stores so we have been able to keep costs down as we have seen some things happening in the supply ch

industry and, of course, we've seen higher prices, guys, in caterpillar but the higher costs becauseand supply chain issues and higher material costs we've been talking about with you so many companies showing up in those earnings results as well >> yeah. so many movers today we mentioned our parent company, down 4% for reasons that i was not quite able to understand given it seemed to be a relatively positive quarter. as you pointed out comcast shares have rebounded to flat. at&t shares are up strongly on news at least at this point that i'm not fully aware of, if there is news, other than perhaps some people signing on there. yeah you can see that's a significant move for at&t. not earnings related the drug stocks up nicely. merck reported, but it's beyond that, it's kind of a group move in part because it does it for the biden administration and we're going to get a lot more from them as the day goes on, but may not be moving against drug -- higher drug prices in the way perhaps had been thought previously. >> merck one of several companies that raised guidance with northrop and w

library book, if i didn't have that nickel a week hanging over me i would never find out why that caterpillar was so hungry. i actually never found out. and like they said, libraries don't need late fees. they can find other sources of revenue. you know, like i don't know, a vending machine that only sells food you eat quietly. or renting out hollow books for assassins to keep their guns in, hell, they could start renting outline rathers on airbnb. i think it is a perfect idea. it is quiet, there is furniture, you can have sex in it, there is a 75 year old woman who live there who you can talk to but don't have to talk to. st just like an air bmb. moving on, these days we talk a lot about systemic racism and how subtle discrimination is baked into all levels of society. but it is important to remember that america is not all like that. there is also very obvious one-on-one racism. >> so imagine moving your family into your dream home to start a new life only to find yourself subjected to nonstop harassment from your new neighbor. that is what a black family in virginia beach has been living w

meanwhile, caterpillar sees strong demand into next year, but says the supply crunch will make it morecult to meet customers' needs. renewable power cars would reverse a decade-long trend that brought wind and solar to the mainstream. there are some improving situations. take a look at this chart, this is data from intelligence showing that container ships were on schedule 34% of the time in september, slightly better from the previous month record low. however, it is still below the pandemic peak of almost 84%. you can get all the supply chain stories on bloomberg. yvonne. yvonne: a good one to watch there, shipping and supply chains. morgan stanley with a pretty interesting note when it comes to the market of container shipping. that it will likely stay elevated when you look at the fourth quarter, as well as next year for the second quarter. we are not quite at the peak yet. demand very much staying strong in the u.s. and europe. david: and i think one of the think they are looking at is the upcoming lunar new year, the restocking they expect to happen ahead of that. we for you know

caterpillar also very strong, up 3%. they beat both top and bottom line estimates. the ceo addressing the supply chain issue, saying they are not sure if the worst is over yet, but that it wouldn't take more than pundit percent of the backlog will take more than 12 months to fulfill, so perhaps a good signal there. mastercard beat, up 1.3%. altria down 5.2%. they missed, and they did take a $6.2 billion charge for their anheuser-busch stake. as for big tech, we got some big ones after the bell. ebay, those shares left on my checked lower. actually, i'm not sure about whether they missed, but the december quarter, that lookahead, not so strong. those shares really being punished right now, down 7.4 percent. amazon up 0.5% ahead of reporting after the bell. it is interesting, not huge expectations on that quarter. finally, facebook down just a little bit. they reported earlier this week, but the company right now against allegations that perhaps they are under scrutiny for allegations that they misled investors. shares down just slightly as the company is telling its

pay out more, they pass on the costs to consumers by hiking their own prices and just this week, caterpillar, kraft, heinz, del monte among the companies raising prices. they join verizon and at&t that have also increased prices. consumers are dealing with sticker shock when they buy groceries or fill up their gas tanks and booking vacations. supply chain bottle necks are the main reason holding back the u.s. economy according to wall street. the u.s. economy expanded 2%. consumers not spending as much because of higher prices and stalling jobs growth. pressures are so right now, the happiest place on earth is more expensive. disneyland in california hiking single day tickets by 5 to $10. neil, when mickey is raising prices, that is saying something. no? >> yeah, you're right. what is weird, too, we're wrapping up among the trieding when the major averages close at record, i'm talking the dow up better than 5.5% and the s&p up 7.7%. so if inflation is a big worry, why are we not seeing it in the markets? didn't hear me. >> sorry, neil. >> neil: no, it's all right. we are following this. it i

talked to a bunch of farmers and said did he come here and did he have the strong mouth and the caterpillar was 105 degrees, he had a queen -- so i said in other words wasn't hillary clinton or joe biden, put you all and change. i said he is authentic and he's representing the middle class, so i thought he had a very good chance as far as your other question, i lost all those friends. >> really? >> i left this year after 20 years and i think they were happy to see me leave too. >> tucker: why did you leave national review? >> because there were certain issues that would pop up occasionally and i could predict what the answer was going to be, the covington kids. i just sensed that before we knew anything, people would come and condemn them or the access hollywood -- >> tucker: you condemned -- >> i think there were certain people in the republican movement or establishment who felt it's their duty to internally police their own, and that's kind of a virtue signal to the left. we are just part of your class, we share the same values as you do and we keep our crazies, and they are not empirica

you heard caterpillar say that. the moderates want hard infrastructure to get through asap.otentially for them -- tom: i am fascinated by that. what are the liberal democrats thinking? annmarie: it is off the map, because the liberal democrats want to hold it as leverage so they can get their social spending plan through. we know it will not be $3.5 trillion. the topline line figure is $2 trillion. the big question -- what goes in it, and how long? do they go big on few pieces, or do they build the entire wishlist for shorter timelines. jonathan: the big question is how many drinks were consumed last night, annmarie. [laughter] annmarie: jon and the martinis. jonathan: let the correspondent down in washington speak. annmarie, please. [laughter] annmarie: i was a reporter on the ground at this moment during saint regis, anton consumed north of two -- and tom consumed north of two martinis. lisa: "north." [laughter] jonathan: very diplomatic. tom: i would say the thing regis in the fairmont and others are going at about 60% of normal. they are back there. jonathan: the governo

he went to a dirt pile with a caterpillar truck behind him.e's no energy to the project to go out and sell it. i did not see it. yesterday. >> martha: there's a problem that it feels a lot like -- ram emanuel saying don't let a crisis go to waste, a lot of crises. the border, inflation, all of the ships off of the coast of california. they're all opportunities for leadership to step in and say look what we did. we straightened out this problem. we got the military involved. >> it's working again. >> martha: instead, feels like there's a conversation that doesn't feel like it's aligned with what is going on. like the one in michigan. we got to go. thank you. quick break. back with more of "the story" after this. thank you, bill. the newday two and a quarter refi is the lowest rate in newday's history. two and a quarter percent. just 2.48 apr. just one call, and you can save thousands every year. there's no money out of pocket and no up front fees. the newday two and a quarter refi. at these rates, you may never need to refinance again. >> tech:

negotiations stralgt straight ahead a big morning, another one for earnings hearing from merck, caterpillartake in royal dutch shell and pushing for a breakup of the company it's thursday, october 28th, 2021, and "squawk box" begins right now. >>> good morning, welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. and let's check things out this morning with the markets looks like green arrows across the board, dow up by 45, nasdaq up by 61. the dow was down yesterday by .75, a decline of 266 points s&p down .5% and the nasdaq was up by up by less than 1 point. the s&p was down yesterday but that was from a record high. so looking at new numbers this morning with the s&p indicated up by 9. looks like right now the ten year note is yieldin

five years old, using the expressions and using her hands, like you're reading the hungry hungry caterpillared, there is nothing authentic about her at all. and then you wonder -- to me personally, whenever i watch i wonder whether or not whether she was doing front of children -- does she even want to be the vice president? i think that's on a lot of americans minds when it comes to her. every team receive it she just seems so phony, she seems like his plane approach he genuinely doesn't want to play. i think people are accurately reporting there seems to be this shade war between kamala harris and joe biden, i think that's accurate. i think she genuinely resents being thet' vice president of united states. she generally resents being subordinate to biden and resenty including structured elements like the one we had to watch just tonight. >> tucker: yeah, because it's a different level. they are all phony, all politicians are fun to come every single one of them, they are all weird, creepy personalities. she is so funny that her phone and this is an act of aggression aimed at her audience.

. >> we had oil hitting $82 a barrel, caterpillar?e climate related disclosures for investors, the best part, i know that is trendy but the entire portion of executive compensation to these initiatives. stuart: why do you think i would like that. lauren: is a woke story the moral climate impact is how companies change how they behave. stuart: what else do you got, bitcoin. lauren: cash's trash you have to have your money in something because it's all going up these days, it's back at 60000, 64000 is a record, this is a six-month high, there's expectations that the sec will approve an etf based on futures contracts on monday which means it could trade on tuesday and i think we have a really strong hand from the sec investor department before investing enough on the holds bitcoin features make sure you weigh the risks and benefits. stuart: it's a prelude for them doing it. he could be here and he'd be here next week the etf industry is worth $7 trillion. stuart: i better go 60 grand a coin, thank you very much indeed. the dow is up 330,

think about the companies thereafter, caterpillar, newcorp, what were they all worried about? they were worried about the impact from the -- >> tariffs >> tariffs that is the same situation in this earning season. we want to know what are rising input costs from higher oil and what is the wage inflation going to be doing to guidance? if you can figure that question out and who's going to retain pricing power, then ultimately you'll be able to pick the winners. but this is going to be a stock-picking quarter. >> all right, to be honest with you, i'm a little surprised that wti is over 81 bucks, and the stock market is decently in the green today. i'm wondering when that dynamic reverses itself where we become fixated on higher oil prices, more and longerlasting inflation and then stocks start to pay a price. >> yeah, i think that higher oil prices are here to stay, mainly because of poor policy errors globally i mean, you see what's happening in europe, which to me should be a warning sign for the u.s. that outside of france that went nuclear, the other countries in europe are

buy some farm equipment from deere and caterpillar for coal equipment and construction like boeing, theyet up to create lots of jobs so sending business their way is politically rewarding. big multiplier effect. third, chinese government needs to let american companies do business over there and do it directly no more of those forced joint ventures and let's have the admission of bad cyber behavior. crowdstrike is always fending off hackers based in china that's one of the reasons i wanted george kurtz on many of these hackers are backed by thegovernment chinese government time to stand down, for heaven owes sake china desperately needs coal and natural gas. i'm not a fan of coal because it's bad for the environment even better, we've got natural gas glor and a no-brainer for china to lock in those orders and fund our federations and the construction of more trains, as they are called. that's what we need to see if the talks are -- i always lake to say there's always a bull market somewhere and i always promise to find it for you here on "mad money." i'm jim cramer "the news" >>> new inf

earnings season since october 2018 when at that time you had to hear about tariffs and ppg and caterpillar and utx told you how bad they were going to be in terms of their guidance it's the very same scenario now. rising input costs and what will that mean to margins if we are unable to have strong guidance and overcome a lot of these input cost challenges that we're facing in this quarter, then guess what, scott? a lot of the calls for all-time highs to return by the end of this year, they're going to be incorrect because we'll sit in the sideways to lower pattern, but ultimately, no, we're not at the onset of a bear market >> i'm not suggesting that we are, but we're still not talking about the delta variant, and i don't know i think that still is more important than earnings. i don't know everyone keeps saying the consumer's flush they've got all this money and i know you can have turbulence continuing for the remainder of the month, just seasonally things aren't particularly great in september and october, but the market's going to anticipate the other side of a pandemic becoming covid

reporting it sees up to $7 billion in covid-19 drug sales, you've got merck up 5.5% flip it over to caterpillar, on the dow, cats profits doubling in the third quarter. would have been higher if not for supply chain problems. everybody complaining about supply chain, right? the heavy machinery company see ing strong demand for its earth moving equipment, even if it's forced to raise prices again, you've got cat up 3.5% and ford, look at ford jumping 8.9%, gunning the engine close to the top of the s&p 500, shares at their intraday hitting the highest level since 2014 after increase in guidance and reinstating its dividend despite, put it on the real, right? the supply chain and chip- shortage problems and of course you can't talk cars without looking at tesla. ceo elon musk tap dancing faster than analysts can update their price targets on on the stock. they keep having to change them because look at this now, tesla which had a couple pt's at 1030, 1040 just in the last 24-36 hours, we're at 1070 right now a gain of 3%, and that is helping other ev maker shares along for the ride. lucid, workho

the dow leaders at this point i believe are merck, caterpillar, and i think apple.strial equipment with higher prices. especially farmers. stuart: that is a big gain for apple, when they haven't reported earnings for several hours. that is a big walk up, isn't it? lauren: people say this quarter for apple is not the important one. the december quarter is the big one. you get the full demand for iphone 13 captured. stuart: tell me about walmart what are they doing? lauren: they deepened their partnership with gap. a line of home decore and home furnishes. people buying homes, fixing them up. the retailer is getting into the state. that we'll spend up to 10 1/2% more this holiday season. those are some big numbers. it didn't move the retail stocks much yesterday. seems to be doing so today. stuart: doing well today. dollar tree partnering up with instacart. lauren: real fast delivery in one hour. you get your 1.25 item, right? stuart: one hour? one hour? lauren: yep. we're that lazy. i mean really. i like going to the dollar store. stuart: you can't get out of the hou

you have heavy machinery companies, caterpillar, deer, they really rallied this summer. quite peaks for them. we have started to see momentum fade somewhat. 10% on average for the stocks. the question is where they go from here. it could be a lot of that is priced in already and also that this bill has dwindled to the original $550 billion. but it could be how bloomberg intelligence sees this. they expect this will be made law in the fourth quarter. that could drive momentum to the stocks. we will be in wait and see mode. tom: ritika gupta on tensions in d.c. and the infrastructure space. we are joined now by rdc morning editor. -- our d.c. morning editor. what are the chances of that actually getting through? >> that is the big question. obviously the vote was supposed to happen yesterday. it did not happen. i think that the style of nancy pelosi is to have the boat scheduled, but she's not going to bring the bill to the floor and have it fail. if she does not have the votes, and she did not have them yesterday, that's why it didn't happen, it's not going to happen toda

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