environment for them and work through that as positively as we can. >> john law ler, cfo of the ford motor companyng frus the company's headquarters in deerborn thank you very much. deirdre, back to you but before i send it back to you, i want to show a chart of ford over the last 20 years. you might be saying why are we looking at ford 20 years ago well, shares last topped $19 and they briefly traded above $19 today but the last time they closed above $19, september 10th, the day before 9/11. jack nasser was the ceo back then deerd rarks back to you. >> i'm focussing on that 16.8% number that's its return in 20 years, too. phil, thanks for bringing that interview to us and those facts. >>> speaking of evs, let's get a look at deutsche says the stock is one of its top short-term picks despite materially underperformed just about all of the closest peers for the past three months raising the price target to 70 bucks from 60. shares are down 7% since august versus significant gains from competitors like tesla and exupon deutsche attributing the slump to knee owe struggles with the chip shortage and

ford motor company and general motors are going to retool their entire plants and they have made a commitmente only going to produce electric vehicles. they will be producing 50%. by 2035, this is not a government, this is a private company, the vaunted gm, part of america, deeply. they said they are going to be producing only electric at that point in time so i really think that these trillions of dollars that are already to moving. i saw thing on tv last night briefly. it was talking about whether or not it was wise to invest in and how could investment it was in and how could investment it was in these very big funds now focused on climate and then making enormous returns. so i think at your peril will people in politics avoid the reality of what is transforming and the economy is making the decision. not the government. they are not building them. they're shutting down. why? because more expensive. and they bring different kinds of problems so nobody can stand anywhere and guarantee you something for eternity of five years. i can't do that. but i can tell you that for the years that i kno

so we'll on, over to for tools q, deal with my food ocean from a small school, new from ford motor company america. could i get the customer with us or the narrative this year is climate change. climate change is being swapped out for we need growth and it's being used to justify money, great thing. and just like printing money doesn't create gross printing. money doesn't solve climate change and either love adult is always built on a structure that was created 1st in childhood. so without understanding of childhood relationship, it becomes very hard to understand your adult relationship. and that's why it's incredibly important and to be able to have a basic understanding of what motivates you as an emotional be. and i get this washington state. a father is being charged with 1st degree murder for allegedly kidnapping and killing his daughter's boyfriend. after he sold his daughter into sex trafficking, the victim in 1900 on andrew sorenson disappeared over a year ago. and it remains were recently found in the abandon cards. ok. the dad, 6 year old john i meant is now being held a hero by

matt: a couple other investors in rivian, the ford motor company and amazon, which has an order in for number of trucks. this will be a big source of revenue, right? ed: we put a story out last month that it is largely based on the amazon effect. when you are back by the world's largest player, it lends credibility. a lot of people did the basic math and try to quantify what that 100,000 was worth. it is probably worth $5 billion in revenue. according to sources, there is something in the contract around recurring avenue -- recurring revenue. it was called an initial order. i have not seen that language anywhere. he makes it seem as if amazon can expand the order. it will take them years to build anything. matt: demand will outstretched supply for a long time. shenali: this is an amazing statistic. one of the biggest ipo's with rivian was general motors. matt: $86 million. ford is worthless the now. volkswagen is worth a little bit more, $141 billion. the interesting thing to me is not the legacy carmakers. we can sit down and do with the math. why is rivian not trading for $100 billio

tom keene, $86 billion valuation for reference, the ford motor company, $77 billion. tom: i do not know what to make of it. i have the clearest memories of the prophet illusions of 1999 and 2000 and it was reported in 2001 what a fiction it was. i am not suggesting that now but in some such -- sensitives a silly season, the silly season is always always there in a boom. jonathon: is it easier to transition to ev or start from scratch. they believe starting from scratch is more than doable. lisa: patel saying that she sees the space. when tom talks about the silly season, we only know when it is silly when it stops. are we starting to see the beginning of that with inflation or does it persist because long-term it curtails growth and we end up with lower yields? and then stocks go up. i wonder at what point do we get a reality check? jonathon: who is ready to lean in and push back against communication and chairman powell? who is ready to do that? lisa: honestly i think that is what is going on with the market. the market is saying you will end your bond purchases soon

public employees in several cities are already resisting vaccine mandates, this as ford motor companyu.s. company to issue its own rules requiring all 32,000 salaried employees to get the shot. now that children are eligible to get the vaccine, they are trying to convince parents it's the right thing to do to end the pandemic. >> many parents are already seeing inaccurate claims on social media, text threads and in their inboxes. >> reporter: the federal officials believe they will have full accessibility for children's vaccines for children under 12 by early next week. >> thanksgiving just around the corner, about 21 days away. do we know how many americans at this point are fully vaccinated? >> reporter: given the federal mandates, the white house says about 70% of adults in america are fully vaccinated against covid-19. in california the number is a little higher, about 73% according to state data. and some 220 million american adults or a little over 80% have gotten at least one shot. >> with these new vaccine mandates coming down for private businesses this morning, it will be in

talking about a stock that if this percentage hold it will have a market value that rivals ford motor companyrley davidson getting a boost. all of the companies exposed to the steel and aluminum tariffs and more portly the retaliatory tariffs the eu had imposed on motorcycles, liquor, and all of other things all rallying. bloomberg reported that a truce has been set, not necessarily written down, but that should be done by december. harley davidson up about 8%. keep an eye on the vaccine stocks. novavax finally seems to be getting those rolling submissions going. they had who submissions last month and the eu submissions last week and getting word this morning they finally submitted canadian papers. they will seek u.s. approval by the end of this year. meanwhile moderna going in the opposite direction, down 3% after the fda said it needed a little bit more time to analyze the covid vaccine for teenagers, 12 to 17-year-old. this is the semiconductor company that went public last week. a lackluster debut. it fell on thursday and rallied on friday and making up ground. this is the third biggest

tom: lucid was something in the vicinity of 2000 plus employees, and ford motor company with 184,000.is a big difference, no question. they don't have the historical cost. you don't have pension funds to worry about. a lot of things that go along with traditional auto making, meaning the ev makers are to some extent redesigning the business. it is different for them, and they are being rewarded for it in the stock market. tom: we will have to see at west -- to see as well. a hugely confusing headline out right -- right now. son to succeed as ceo in three years. this is of critical importance to our "surveillance" team. i've had images come in lately of prada handbags. jonathan: not gucci this year? that is a shift. tom: there's a shift towards spectacular, sparkly prada stuff. jonathan: you mentioned the number of employees. the production ramp, is that not work anything -- not worth anything these days? is that not worth something? tom: what gives me humility here, i got a cab at heathrow, had no idea i was getting in, and i was like, two miles into the ride into london, and it was s

cyber truck i would much prefer to stay on the side lines and get my electric vehicles from the ford motor companych is why we own such a good position for the charitable trust >> we know how much cramer likes ford and mr. farley. you have a request in for rivian >> absolutely. 100% i'm expecting this to be just as strong as what phil was basically, the sentiment of what phil was saying there and this is what everyone's been anticipating and ford has that stake. it's interesting that ford has not closen to work together for rivian, and that puzzles me to some degree, scott, but i like this ev space. as a matter of fact, whether you talk about lucid or tesla and name your vehicle company and you have the nios of the world which i just got out of, but i still think this is a great place to be in and this charging point and you can't forget about the fact that all of this means there will be that much more of a demand for copper which is one of the reasons that i've become bigger and bigger and bigger into freeport mcmorran and that continues to be a great play in the ev space and it's not just const

speculate but i would prefer to stay on the sidelines and get my electric vehicle exposure from the ford motor company is why we own such a big position for the trust. it set one more new high today mark in florida. mark >> hi, jim it is a pleasure to speak with the man who so generously shares his knowledge and time >> oh, thank you thank you very much. i appreciate that. thank you. what's up? >> i really have to thank you for some great recommendations like amd, unity and big five, and they've been tremendous for me >> oh, thank you >> all right my question is about lithium motors about two weeks ago lithium reported a huge earnings beat in positive guidance. the company is expanding rapidly, continuing to buy new dealerships. the stock soared up about $40 and then came down during the day to only up about $5, and by the close of the following day it was below the price from before the earnings report the stock price seems to have stagnated. what is your outlook for both the short and long terms >> i think a lot of the companies that sell used cars have been stalled because they can't get enough inv

he was previously the ceo of ford motor company he comes in. he's got to make a splash and he did.t week 100,000 new vehicles coming from tesla and side deals with uber and carvana. all over the press making such a big deal they hired the greatest quarterback of all time, tom brady to do an entire new marketing campaign and it seemed amazing. and then last night at around 11:00 p.m. elon musk says there's no contract signed we don't know why he did it. we don't know what the exact deals are. there's been no responses from hertz or tesla all this shows is how unpredictable things can be and how in this entire stock pr driven world where investor communications are so complex, how things can change on a dime. >> uh-huh. hertz did respond by the way, saying they have already began deliveries but again, your point is well taken that much is made about these announcements and then they have to deliver that is a little ncertain. you have to wait in the future speaking of that, though, i want to talk about rivian as well looking at ipo next week and this is another company i know you talk

i'm wondering now, we see ford motor company planning to make their own chips. they may do the same. is it conceivable, how quickly could that happen where we might be able to supply domestically chips we need for our cars? >> yeah. certainly no expert on the chip manufacturing but i can tell you that, i think we're probably looking at pressure here well into a good part of next year before we start to see some relief. you know, latter half, middle, hard to tell. i think this is here to stay for a little while. david: so your stock is up as a result of that. i mean the used car industry has never been in a better position now i would assume than it is and i'm just wondering how much of your intake has increased? how many more people are recognizing gold in their car, their old car and trying to sell it off to you guys? >> no, you're absolutely right. well, first of all it has been a great year for us, especially the first half of this year. we sold more cars. we bought more cars. to your point, if you have an extra car laying around, now is the time to sell it.

hi, phil >> hi, morgan, let's bring in the former president of the automotive division from ford motor company his car as he's headed on a trip, kind enough to join us. tell us about your thoughts as you watch the rivian ipo take place and the demand for this stock continue to accelerate >> yeah. thanks very exciting day for the rivian team and r.j. personally excited to see strong demand for the stock. not surprised by that. r.j. is a great partner and friend and when we invested starting in 1819, really found that r.j. to be a trustworthy, you know, kind of modest, humble partner, and i'm not surprised by his success >> which raises the question a lot of people when they look at rivian keep hearing people say, hey, it's the next tesla, the company that could take on tesla, and they immediately start saying is r.j. like elon paint a picture of what we can expect as investors watch him and expect r.j. as a ceo >> yeah. i mean, r.j. is very humble, very modest. if you think about the beginnings of this company that started in 2009, probably the worst time in the world to start an auto company,

stuart: let me remind you a couple of weeks ago when you were on the show you said ford motor company, they're on fire. the excitement right now is all about rivian, they've got the ipo today, but there's one king when it comes to trucks in america, and that's ford. when they announced their f-a 150 lightning, their all-electric truck, they had 160,000 orders. it's not enough just to have electric vehicles. within ten years, all cars could be electric. you've got to have autonomous investment. ford's investing $7 billion in the next five years, a little side fact, about an $8 billion profit when rivian ipos today, so essentially rivian's going to pay for if ford's autonomous driving research over the next ty years, which is pretty incredible. this amazing james bond-like accent, you strike me as the kind of guy that would drive an aston martin or a range rover, but you've got to tray a ford truck. -- try a ford if truck. it's life-changing. i think the stock's going higher. stuart: by the way, i do drive a ford f-150 truck, so i do know -- >> all right. that's what i'm talking about.

lauren: ford motor company. it was up more than this? lauren: always happens to me.t: show me bed bath bodyworks. lauren: both surging today, spun off from l brands. reporting earnings as a stand-alone companies. not the best numbers for bed bath bodyworks. victoria secret did better than expected. stuart: foot traffic is up. people going to the malls. that is good news. fiz he, will it ever really break out? pfizer gone to 51. lauren: that is high for pfizer, right? the government bought 10 billion courses of the covid bill. it will start at end. year around it is free. >> not seen anyone do a jig about pfizer's stock price. stuart: i'm over here dancing. >> 51 on pfizer. lauren: moderna never does. stuart: why? i don't get it. >> i don't know stuart, you are the guy at that does the jig. you tell me. stuart: i don't know the answer to the question. disney let me put them on the screen. we're down to 154. that is not good. lauren: the story starting january 13th, if you want a family cruise, bring the kids, any child over the age of five must be vaccinated. stuart:

look at ford motor company has made an announcement they're going to build a 6 square mile plant in kentuckyall robotics, glued together trucks. ford's doing a great job. but they can't handle these labor unions. now starbucks getting pressure to have labor unions. what are they going to do for these workers? more osha controls workplace safety. the wages are really good for unskilled workers, it's a great way to get started in business by working at some of these restaurants like mcdonald's and fat brands and starbucks. you learn a lot of job skills. these jobs aren't occupied by people that are 45 years old with families, these are young people that are in college, they need the extra money. unions aren't going to do them any good. only thing they're going to do is collect dues which means the price of coffee's going up, your favorite sandwich in a restaurant, the price is going to go up. they provide very, very little benefit to the union members. that's the reason why right to work states are flourishing. it's silly work rules they have. out of an 8-hour work day, you're lucky to get 5.5

that valuation makes the company already worth billions more than either general motors or ford even e title of world's richest man. amazon took a stake in rivian and committed to buying 100,000 of it vehicles while he and the first passengers aboard his spacecraft rode in rivian vehicles to the launch site. buckle up. the electric car wars are just heating up. >>> and on this veterans day, you can give back by helping our wounded veterans and their families. the celebrity auction, lots of great items on ebay including the late senator john mccain's favorite navy baseball cap donated by his widow. or ticket to a show and meet and greet with a comedian or a zoom call with kaitlyn collins or erin burnett and many, many more. you can find all the items at ebay.com/hoft. bidding ends sunday. follow me on facebook, instagram, tiktok and twitter. tweet the show at the lead. our coverage continues with mr. wolf blitzer in "the situation room." >>> happening now, breaking news. a temporary legal win for former president trump. a federal appeals court just granted his request to pause the rele

disadvantaged by a $4500 tax advantage which is clearly centered to support general motors, ford, and another international companythank you for joining us. great to get your time. bob carter, executive vice president for sales of north america for toyota. talking about the ev production crisis and the politics that may interfere with the markets. coming up, we will speak to the pfizer chairman and ceo albert bourla on the back of their earnings as they prepared to vaccinate kids. this is bloomberg. ♪ >> we welcome the bloomberg television and radio audiences around the world. we have a special guest, chairman and ceo of pfizer, albert bourla. i have to congratulate, you beat across earnings and revenues today. give us a sense of how you did it. albert: i think we did it because we served approximately a billion patients. this is why we are so proud. we touched a billion people around the earth. 300 million of them were without covid. this is the fundamental behind every strong financial performance. david: at this point, all of us know pfizer because of your vaccine against covid-19, but how much of your business

the debut and closing with a market value well above that of ford and a few thousand dollars below general motors at $85.9 billion. the company's stock started trading at $106.75 a share four times what it was valued at in the private markets ri rivian, backed by companies like ford and amazon, has preorders for its pickup truck and suv as well as an order from amazon for commercial delivery vehicles to be delivered by 2025 so far it's delivered just a handful of vehicles to date. ozzy media is reportedly being investigated by the justice department and the s.e.c federal prosecutors in the eastern district of new york have contacted at least one firm that dealt with ozy in the past. the s.e.c. has sent inquiries into two companies that weighed investments in ozy today is singles day in china, a one day shopping festival akin to black friday here in the states but while previous years were full of spending, this year they're focussing on president xi's common prosperity agenda, reaching out and supporting farmers and small communities rather than big cities back to you. >> happy singles day to all of our viewers in china just sp

motors. their stock price went up so high it's far more than ford company. n the border of being able to cross general motors. this is something we are seeing with electric cars that is really amazing. now, one of the things that has to put a lot of pressure on detroit, our own tom costello spoke with the general manager -- not general manager, ceo of gm, that's why i thought -- and he's going to talk to her on the "today" show. >> are you going to scale up to make it all electric in 14 years? >> yes, we have the facilities and a talented and trained workforce. >> the new stanford grad, jessica walkins is headed to space. she will add the distinction of becoming the first black woman to board the space station. then increasing the maximum price they will spend. to buy here, you need two mortgages, the base mortgage and a jumbo. that should save you money but it could cause more buyers to enter the market and increase prices. we will see. and then netflix is going to change and will rank the show by how many people watch shows, not just for two minutes which i

game but what about valuations electric vehicle market some of these companies they are higher than the traditional's like ford motor. >> i think it is the ultimate bubble. electric vehicles, basically, for one thing, this legislation that basically provides tax credits to people who buy electric vehicles, most of whom in my experience, i ask people all the time what kind of card you own? they will say i own a tesla. these people do not need tax credits. they are very upper income people. so the electric vehicle market, why are we doing this? if i want to buy a high-end electric car i will take them into job the tax credit i suppose. but then you have to dispute the union labor with respect to the amount of the tax credit. mexico and canada will love that. they will sue the united states over free trade. maria: great to see you this weekend. joe biden multi- trillion dollar social spending bill adding $367 billion to the deficit and disputing the deficit and disputing the claiai dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's

listen to the naysayers, who cares that -- comparisons are odious i could think of a company that disagrees. ford motor the big institutions don't agree and that is why last night i told you they keep buying rivian stock to be meaningful for their funds and that is what is going on today this is not hard money this is easy money fund managers want to get a huge position on the sheets and they need to move fast to get the first slug of shares from the under underwriters, there were no flippers involved. this is tight as a drum as they like to say. if you knew about the mechanics of money management and if you watched the show last night then you could have made a killing today. just pointed it out. how about the faang. i feel like throwing a brick at at tv every time i hear a faang. there are not enough tvs at costco to do this. amazon, apple, netflix and google and alphabet are crusaders against inflation. they each offer something that could be used to dampen price increases because they're auch bargains facebook is a bargain for advertises and amazon is for shoppers and netflix for entertainment and

it does seem like electric vehicles are the future, but why would this company have any kind of upperhand ford, general motors, let alone tesla in getting supplies, manufacturing, and being able to sell it at a imperative price. jonathan: tom, here is a company that only just started delivering vehicles a couple of months ago. it has a $76 billion valuation. tom: somebody had one of these spac deals which is frankly, not appropriate for family tv like this, but it is a silly season. every silly season is different, but they are all the same at the same time. it is this strange word, speculation. they are not investments. jonathan: amazon in the mix as well. are you willing to call this one silly? tom: you know, i don't want to cast dispersion on this. jonathan: i think you just did that. tom: i just think it is a silly thing. what i want to say is we are going to chronicle the story and, john, you go to the heart of the matter, which is you put a $70 billion price tag or value, i should say, on as, lisa correctly says, hope. jonathan: do you think it is part of a broader issue? just because you think we are a

companies are starting to take matters into their own. is what the computer chip and supply chain shortages ford and general motors are forging ties with semiconductorlopment in-house. they're hoping to speed up automated driving capabilities and avoid supply shortages and macy's says it's reconsidering when it will close dozens of stores as it rethinks its business strategy. the change comes as the company reports stronger digital sales and areas with smaller physical locations that aren't at malls macy says, that's the clear path forward macy's posted another strong quarter thursday and raised its full year outlook ahead of the holidays and taking a live look right now at the new york stock exchange as training gets underway this morning, you can see we are down about 179 points new details about apple's autonomous car a self-driving electric car may be the tech giants next big thing apple is reportedly working on putting a futuristic vehicle on the road by may 25 sources tell bloomberg the goal is to make the apple car fully autonomous. that means no pedals. no steering wheel no input at all from anyone on board. whoo. okay. walmart's drone deliv

some major american companies such as united airlines, walmart, and more recently ford motor, are already calling for some of their workers to be immunized, but many businesses already struggling with labor shortages are against the move, which is likely to trigger legal challenges. >> unemployment claims in the united states continue to drop towards levels last seen toward the current -- before the coronavirus pandemic. 200,000 new applications were filed last week. still more than the average of 2019, but another sign america's economy is continuing to heal. a recent u.s. census survey showed millions of americans are still not working for reasons related to the pandemic. that's creating some slack across the labor market. separately, the u.s. trade deficit widened to a new record in september. the commerce department said the economy imported $80 million worth more than it exported as supply chain disruptions continue to hamper markets around the world. the bank of england surprised markets by keeping interest rates on hold despite rising inflation. the central bank predicted inflation

probably going to do just well they're more correlated, for example, than ford or general motors or any of the other companiesso the honest answer that we shouldn't tell you because it is a deep secret is that it doesn't really matter. >> it doesn't matter, exactly. >> in the long term i think it is right >> i praise your honesty final quick question, what happens with interest rates from here >> i have to tell you i'm pessimistic. i think the fed has been our best friend in the market for the last 18 months, and i'm a little afraid a year from now they won't be returning our calls. i think that's because wage inflation, as we've started to see already, i think it is going to become a bigger and bigger problem. it is not going to go away you know, oil and houses, they can go up and down, but wages once they start going up, it is hard to reverse them i think that will force the fed's hand so i think six, nine months from now they will be significantly higher we can live with that because earnings should come through, but the question is what will the market be willing to pay for those earnings in the higher ra

electric vehicle sector separate from tesla, look at rivian, even with ford and general motors, they are becoming the electric vehicle companies, right? in addition, cybersecurity names in the tech space are always the place to be especially going forward. i think that's going to become even more important. so there's plenty of opportunity in tech. you don't have to necessarily because you feel the market's a little toppy, blow out of it all. liz: george says there's some tired bulls, but some still have some energy left in the tank. great to have you on this friday. guys, even as a major bank issues a warning about wheels up, it's not hitting any air pockets. the private aviation company reporting kind of a stunner when it comes to membership numbers. the founder and ceo joins us live on how he's attracting customers while taking on big carriers amid pilot shortages and rising jet fuel prices. and don't you just wish you could, you know, just use your crypto for just about everything? we already told you about the amc story, but again doge is the place. 90 days from now, according to amc ceo adam aron who told me late this af

these are automakers or companies working on autonomous vehicles general motors, tesla and ford and aurora working on a vehicle system looking at the companies they all are playing for autonomous vehicles but 2025, there are a lot of people sitting there in the auto industry saying we won't be fully autonomous by 2025 a nice goal and highly skeptical that the auto industry or apple will get there by 2025 >> all right phil, thank you very much. apple is a big story today. >>> let's move on. retail is a big story today and most retail earnings coming in strong maybe a miracle on wall street macy's shares booming up more than 20% company raising full-year sales and profit forecast. if that wasn't for ma i sy's i think kohl's would be the top retail story because the shares are urging, raising the forecast let's talk about this, tie it up with a bow and bring in oliver chen at cowan. great to see you you have been long and strong and right on many names. be honest. are you surprised at how strong some of these numbers have been? >> i am impressed. it was a beat across the board we are in a tou

an ipo yesterday and despite selling fewer than 200 trucks so far, the company has a market higher value than general motors or ford there is growing demand for an important element of batteries, lithium. ben tracy has the story. >> o'donnell: in the mountains of northern nevada, the fuel of the future lies in the past. >> this is gorgeous. >> yeah. it is crazy to think 16 million years ago this was the site of a giant volcanic eruption. it's called lithium. most of us only periodically remember from high school chemistry. rechargeable lithium ion batteries power our cell phones, computers, even toothbrushes and are now the fuel for all those electric vehicles starting to roll off the assembly line. >> what is the connection between lithium and vol can know knows. >> in the coming years, it is a good chance the lithium in that battery will come from here. >> yes. that's the hope. >> benson works for lithium americas, a mining company that owns the rights to the largest known lithium deposit in the united states. the company expects to potentially extract 80,000 tons of lithium a year. that's enough to power about a

up to about the electric cars or amazon and other companies are switching their fleets over school buses. the federal motor pool are going electric. ford is rolling out that electric f $150.00 pick up and the mustang. they're talking about 600000 electric cars by 2023. so the good news is that is less exhaust into the sky. but brian electric cars need to charge up and that electricity has to come from somewhere. how meaningful will driving electric, reduce the old school energy pollution and hopes to replace. yeah, the story there just keeps getting better and better what we're seeing now. and folks in california by this, by the way, no, this great, no, the so well, what we're seeing now is the onset of a solar plus batteries. and that is really kind of that's, that's the story we need. so we're seeing large scale solar batteries that are actually really working. just 2 weeks ago, southern california edison, the, one of the largest utilities in the country, commissions. the, the building of 2 gigawatts, 2.4 gigawatts of solar batteries. that is going to be built by the way, by next august, that will be working by next august to gigawat

we did see some big car companies add their name to it like general motors, ford, volvo, but a lot of of the industry and of the market, it is clearly heading in that direction. the desire to sign onto a big global industry-wide deadline was simply a step too far for the industry at this stage. >> all right, phil, thank you. >> nice to see you, phil, from glasgow. >>> let's get a check on cnn business this thursday. looking at markets around the world, the gains across the board, asian shares closed higher. europe has opened higher. and stock index futures also leaning up a little bit. singles day, the largest annual shopping day kicking off in china. we'll be watching that. stocks slipped in the u.s. after that october inflation report. prices have the biggest annual rise since november 1990. the dow closed down 240, the nasdaq fell almost 1.7%. that's the worst day since the beginning of october. there was some good news in the job market, though. jobless claims fell to a new pandemic low, just 267,000 people filing for benefits last week. almost back to normal-type levels. >>> sant

the value company is close to $90 billion, it surpassed ford motor. the stock is up 8%.reservations for the first line of vehicles. the reservations have jumped and production plans for 2022 are on track. we have a boom for these companies. your thoughts on what's going on in the auto sector. >> it's crazy. everybody has gone ev crazy. when you look at what's going on. rivian and lucid, they're on fire. rivian is delivering the first 1,000 trucks off their illinois plant. that's driving the stock price crazy. rivian will be bigger than ford an gm by the end of the year. both of these companies have not delivered any vehicles he yet to the general public. so this is amazing but we're seeing the beginning of the ev industry and especially with the california mandate of by 2035 for no gas, no diesel cars. it's going to be a boom for the next 10 to 15 years. maria: sounds like you would buy the stocks then. >> i would definitely be looking at them along with the mix with tesla and looking at ford given the fact they'll be rolling out an f-150 electric lightning. maria: well,

. >> a company you may not have heard of before is an electric troublemaker called -- truck maker called rivian. after its first day of training, it became worth more than ford and general motorsmira hussain has been looking into what all the hype is about and it said this report from new york. >> this is the r one t. >> the first all electric pickup trucko hit the market. with a few bells and whistles, it is geared towards the outdoorsy type. unlike other electric cars, this one has a full-sized spare in the back. in case you need to put air in those towers -- tires, there is a compressor for that. for the sake of journalism, i got in the drivers seat. electric cars still account for a small amount of global sales but the ev market is growing fast. rivian has ford holding a 12% stake in the comp raining -- i the company. online retail giant amazon owns 20% of rivian. >> people feel like there are shades of tesla here. some would say tesla 2.0. they are lodging with more authority, a really invested pedigree as to who is at the company and what they have already accomplishednd who has already become partners with them. >> also amazon has said it will buy 100,000 vehicles, rivi

the company has now a market cap bigger than ford and general motors much more right after this break. "squawk box" will be right bac k. so, you want evs, you have come to the right place. is that tom brady? yeah. he comes in to recharge, get software updates. you know. let's go! ♪ ♪ remember when no dream was too big? ♪ ♪ and you could fearlessly face the unknown. (kids playing) you still can. ♪ ♪ (blowing dust) when you have a rock you can depend on for life, you'll be unstoppable. that's why over 5,500 companies rely on prudential's retirement and workplace benefits. who's your rock? so, you want evs, you have come to the right place. is that tom brady? yeah. he comes in to recharge, get software updates. you know. let's go! in business, setbacks change everything. so get comcast business internet and add securityedge. it helps keep your network safe by scanning for threats every 10 minutes. and unlike some cybersecurity options, this helps protect every connected device. yours, your employees' and even your customers'. so you can stay ahead. get started with a great offer and ask

company at $66.5 billion. that is dwarfed by tesla's market valuation of $1 trillion. at this stock price, they would already be priced close to ford and general motorsck exchange this morning. slightly down 30 points. kumasi: if you could work remotely from hawaii, would you do it? airbnb says it can help you make that decision easier. there is a new feature to make it easier to work remotely when you are on vacation because airbnb now lets you check the wi-fi speed in your vacation rental before you book. the short-term mental platform says this is a result of the pandemic and so many people working from home. a 30 minute zoom call with a celebrity. bidding is now open on ebay for the fifth annual veterans day celebrity auction. actors sean penn, jerry seinfeld, jon stewart and jimmy kimmel and media personalities like george stephanopoulos and anderson cooper are just a few of those who are up for bid. if you want to know who has gotten the highest bid so far, it is none of those we just mentioned. it is weird al. weird al. [laughter] more than $5,500. that would be an interesting conversation. drew: i get it. reggie: do you? drew: it would be fas

companies have actually delivered? not nearly as many as general motors, ford or tesla. rivian delivering so far 156 of its trucks, most of those to employees. we put a slash there next to lucid because they are not even saying how many vehicles they have delivered so far. meanwhile ford, general totetores, they have laid out their plans to go electric as well. albeit in the distant future. 2035 is the target for general motors to go all electric but they have a couple vehicles coming on the market. the hummer ev will be produced at that factory president biden is visiting. production actually starts just next month and ford has its mustang mach e on the market right now and the 2022 f-150 lightning coming on the market very well. for some reasons not as excited about those legacy ski automakers compared to the new on the block. neil: they're not as cool. thank you, grady trimble. to luke lloyd on all this, strategic domestic partners investment strategist. >> hey, neil. neil: on the ev push, i take nothing away from these vehicles and a lot of them are very cool and i g

company, rivian. it had a huge jump on the second day of the stock market as well. it's up 22%, making it far more valuable than ford or general motorsford sells about 1 million vehicles and rivian made 11. this was one of the blank check back arrangements that have been a trend lately, but investors not impressed. the dark fellow with the tie, he is the youngest ceo of a publicly traded company. the national association of realtors, in the meantime, say in the summer houses were going on sale nationwide and getting sold in one week, and the average was three weeks. that's not giving buyers much time to make careful decisions. you remember movie pass that let you see how many movies for one monthly fee? the fellow that invented it has re-bought it, and he wants to restart it. and then the artificial christmas tree company, the owner said this. >> i actually received christmas presents from a friend in september. i called them and i said, how are you so organized that you are sending presents to my kids in september? he said i am not that organized, but i am in the shipping industry and i realized if i don't send them now you may not

company, rivion, it saw a huge jump on the stock market. it had a huge jump on its second day, making it worth far more than ford or general motors.rivian made 11 trucks. 11. ford sells about 1 million in that same time. and then investors are not impressed, and the fellow doing the signature right there in the middle, he's the ceo. he's 26. now publicly traded company in the united states. they make software for automated trucks. the national association of realtors said over the summer that houses were going on the market and getting sold in one week. the average used to be three weeks. seven days, which is five business days, that's not giving buyers much time to make careful decisions. you remember movie pass? it will let you see as many movies for one monthly fee, it went bankrupt but the fellow that started it will try to restart it. look for that early next year. the bay area artificial christmas tree, they said something interesting, the people that work in logistics. >> i received christmas presents from a friend in september, and i called them and said how are you so organized that you are sending presents to your kids,