at any moment we expect the president to help general motors fling open the doors of gm's second electric vehicle plant named factory 0. let's go live fox news in the motor city following all the electric action. >> were here in the president's motorcade at the gm assembly plant. this is a big part of the reason why the president is visiting motor city today. this is the gmc hummer ev that hit the road next year. the president will get a chance to get behind the wheel and test drive the electronic vehicle technology from general motors. he will to her the factory 0 where the new hummer ev will roll off the assembly line after visiting new hampshire yesterday. this is a stop to his victory to her after signing the one trying another infrastructure bill. the plan sets aside billions of dollars to install 500,000 ev charging stations across the country. the idea is to get enough of the charging stations to match the frequency of your traditional gas station on the road. we spoke with one local bus driver in michigan who took the time and between bus routes to show up and show support for a b

briefly, lucid surpassed general motors earlier today before it pulled back. for rivian, while it is pulling back today it is way past general motors in terms of market capitalization, which has a lot of people saying, hey, is the market a little too frothy here about the expectation for the ev makers? quickly take a look at shares of general motors we asked mark royce the question, kelly, a lot of people have been posing which is, look, should general motors spin off cruise or some of the ev action to capture the ev entities he said, no, that's not the plan they're too integrated and they believe too much that those assets are crucial to growing general motors in the future there's no plan to spin off the evs at this point. >> it has been an impressive and amazing display to watch those cruise robo taxis take the roads in california, obviously early days, but it will be interesting for the president because they're trying to push down high gas prices, but as long as they stay at these levels it is making the evs a little more attractive >> a little more attra

now capping to the app >>> we got an exclusive look inside general motors. a few electric factory ahead >>> the tria maxwell we are back in 60 seconds. try febreze fabric refresher. febreze's water-based formula deeply penetrates fabrics to eliminate trapped food odors as it dries. spray febreze fabric refresher when you clean up after meals to ensure your entire home smells fresh and clean. try febreze fabric refresher. brand power. helping you buy better. i don't just play someone brainy on tv - i'm an actual neuroscientist. and i love the science behind neuriva plus. unlike ordinary memory supplements, neuriva plus fuels six key indicators of brain performance. more brain performance? yes, please! neuriva. think bigger. you have always loved vicks vapors. and now you'll really love new vicks' vapostick. it goes on clear and dries quickly. no mess. just the soothing vicks' vapor for the whole family. >>>ifieder is looking to add yet another tool to help the nation battle the coronavirus on tuesday, the pharmaceutical giant submitted its application to the

and starts here in detroit. >> now is president biden at general motors factory zero electric vehicleipartisan infrastructure bill that he just signed into law, provides 7.5 billion dollars in funding for electric vehicle charging stations all over the country. this charging stations are absolutely essential to the consumer appeal and utility of the product that those general motors workers are building, and hoping to sell to electric vehicle buyers. president biden is famously a car guy, and today, he was a hummer guy test driving general motors new electric hummer. part two of the biden infrastructure plan which the house is scheduled to begin debating tomorrow, contains even stronger support for the manufacturer -- manufacture and sale of the -- it establishes a federal tax credit of $75,000 to the buyers of electric vehicles through 2026 and, that tax credit increases to at least $12,500 to the virus of electric vehicles that are produced by union workers like the union workers at general motors. joining us now is debbie dingell of michigan. she's the senior democratic -- thank yo

test driving general motors' new electric hummer.hat bill establishes a federal tax credit of $7,500 to the buyers of electric vehicles through 2026, and it increases to as much as $12,500 to the buyers of electric vehicles that are produced by union workers like the union workers at general motors. joining us now, democratic congresswoman debbie dingle. thank you for joining us. what was it like to have the president back in michigan, and this time with real support for the electric vehicle industry there? >> it's great. it's always great to welcome the president. but i'm a car girl, and he's a car guy. when you see him behind the whole of anything, he's a very happy man. and i like it when i see joe biden happy. and he's here with a message, this is an industry that has to lead the world on mobility. we've put the world on wheels, now we're leading it in mobility by going to the electric vehicle. >> tesla became the most successful automobile company in the world largely through government subsidies, like the $7,500 that you can st

the year, rivian now bigger than ford if the premarket gains hold it's going to be bigger than general motors >>> elon musk making good on a promise in the twitter verse to offload a portion of his tesla stake. >>> disney under pressure after a dismal quarterly number. bank of america says it's sticking with the stock. >>> and a "worldwide exchange" exclusive with rick perry. his take on the growing european energy crisis, vladimir putin and much more happening on this thursday, november 11th, and this is "worldwide exchange. >>> good morning, good afternoon or good evening welcome from wherever in the world you may be watching i'm brian sullivan once again we are live from london you can see the london eye, the giant ferris wheel you have to check it out it's touristy, yeah, but it'sal, and you can see everything and it's a stunning day today. >>> your money, just sitting off record highs even with a draw down on wednesday. we are seeing futures higher across the board, not making too much of it nasdaq futures have turned even higher than a few minutes ago. we tell you, it's 5:00 on the east

has 11% general motors has a low cost electric vehicle in china.will see how this changes as tesla ramps up ev sales. >> the hummer is going to start at like 115,000. rivian 80,000. most of these cars are pretty do doggone expensive. >> that's the limbited edition they expect price to come down, but that's still a long way from 45,000 of the mass market. >> assuming the build back better plan passes >>> to have an electric car you need to charge it either on the road or at home. and many have had stock on fuego. if you are thinking of plugging into space, think again. here to throw cold water on the company is herb greenberg, cnbc contributor, a good man and glad to see you again herb, you wrote about this no doubt raising the ire of the ev fanatics >> let me put it in context. great to be with you there is a million dollar podcast, run by two guys i work with who are former hedge funneled guys -- fund guys the concept is that somebody who doesn't know about investing he says i have $1,000 continue to vest for 10 or 12 years i want to put it into e

blindsided general motors a little bit. liz: you don't just pick-up the phone and call three different chip leaders in asia when they're asleep, gm has been on the case but i agree with you , i'm so excited about the all electric 150 ford f-150 but go on i really think that again, this is all great for u.s. automakers, right? >> oh, yeah and lucid. lucid is my favorite ev pick. i was in that for the ride up here this week. i got out of about half of my shares on monday because i was trying to take up my principal and get down to money but i love this , i love the way that company is and that is actually the technology leader ahead of tesla in terms of battery and making the car lightweight and they are catering to the high end so not competing with tesla for the same customers because tesla is competing for the high end and medium-to-high end where this is strictly high end stuff with lucid. liz: lucid is down 14% today but already, you know, phil you're looking at some of these names that lucid is up 349% year-to-date, but

and another company like this would be general motors.his cruise business, which has been verified. and it's trading at a multiple you look at the market value of the old big three in detroit, v verses the big three evs they're 1.3 trillion in market cap together and the big three u.s. normally u.s., auto makers are something in the 200 and change range, all in together. one could be cheap, one could be expensive but a lot has to go right for the 1.3 trillion to be right. >> you're more of a value guy but this may be 1998 could be two more years of watching this, of head scratching multiples to revenues that are many years out. i assume you stick with it because this is what's worked for you in the past? >> absolutely right. and worrying about when it's going to start working is unproductival. at oakmark, we're more focussed on the businesses and the management behind them >> i hate to beat the payment space to death, but visa waus taken about 100 points off the dow. are you making a directional call about legacy credit cards in some case

. >> reporter: president biden traveling to michigan today to tour a general motors electric vehicle plant in detroit. he is promoting the new bipartisan infrastructure law that invests heavily in electric vehicle charging stations across the country. >> we will be building again. we're going to be moving again. >> reporter: gm now planning to make all of its models electric by 2035. >> we believe in climate change. it's real. so we know that transportation plays a -- has a huge impact. >> reporter: the president pitching his build back better social spending and climate bill. the house plans to vote on this week. it includes new electric vehicle tax credits as part of a half a trillion dollars in policies aimed at reducing harmful greenhouse gas emissions. at the same time, amid soaring gas prices, president biden is pressing the federal trade commission to investigate whether oil companies are illegally driving up prices. >> filling up a tank would almost cost $100. >> reporter: with inflation driving consumer frustration. democrats insist the answer is reducing costs from childcar

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

and general motors is we're going to stablish new relationships with them. big names in the field as well. joining us now to discuss is the car coach laura and effects. now laura, with some people believing or some analyst that is to say, not just people, i'm sure they have their opinions as well. but some, they're saying that the tip, georgia, could last into 2023. do you think automakers are forging these partnerships will actually. 3 future proof the business, so they don't have the slow downs in production that we saw recently. well, i don't think manufacturers ever want to be here again. so they're doing what's called making themselves vertical, controlling the chips where they're made, trying to get them back here in the u. s. there are incentives for that. but in addition, being able to know what's going on in the chain instead of buying them from sub suppliers, which was the problem. so while you're building a vehicle, you're waiting for a component to come or an assembly to come. that was made by another company. they were getting the chips from a s

he is touring a general motors electric vehicle assembly plant in michigan.o speak later in the afternoon about infrastructure we will monitor that speech when he gives it not too imminently but he's on the tour that almost certainly is mary barra. there he is in michigan at that ev plant for gm. we will keep an eye on that and bring you headlines when he does begin making his remarks. >>> president biden asked the federal trade commission today to investigate if oil and gas companies are ramping up gasoline prices. here to discuss more is victoria green founding partner and chief investment officer thank you very much for being here what do you make of the letter sent to the ftc by the administration saying that there is, quote, mounting evidence of anti-consumer behavior by oil and gas companies, noting that the prices at the pump aren't mirroring price movements of unfinished gasoline. the api calling this a distraction. what's your take >> i kind of side with the api on that one. if you look at what we've done with crude and counts coming back up, we're t

within that landscape i will happily take general motors at eight times earnings with the autonomousehicle, that has microsoft as an investor walmart as an investor and oh, by the way, has a competing van in bright drop that has orders from fedex in this now huge space with a lot of competitors. i will take general mores over rivian any day of the month. >> this is a couple of days only after the infrastructure bill passes. >> sure. >> when you had all of the momentum post that vote and the money flowing into ev-related stocks >> you literally couldn't have timed this any better. >> fantastic timing and i don't know if you have the ability, scott, and there is a wall that we have created that shows the projected sales of electric vehicles in the united states. this gets to jim's comments about how much demand is out there. it is accelerating and it was expected originally by most that we would see 1 million in annual ev sales by 2025 take a look at the data now. the expectation is that we will hit 1 million in annual sales by 2023 2 million by 2025. so it is accelerating. that does n

it is a very big stay for the ev ambitions of general motors.o go, and phil lebeau joins us right now with a special guest. >> mark royce, president of general motors joining us from factory zero in sterling heights, michigan. i know you'll have the first electric hummers rolling out of there before the end of the year how quickly can you ramp up product? and how effective do you thing the opening of this plant will be in changing the narrative that says general motors is not moving fast enough when it comes to evs >> i can tell you, i'm so proud of the employee base, this is in detroit, just to be clear. >> there you go. >> this is all the employees you can hear the buzz in the plant, but also you can see some of the vehicles we're getting ready to produce on a production base you know, we have close to half a million people who have raised their hands for hummers and lyrics, as they come out of the chute. this is just the beginning, we're very excited we went right to electric vehicles we didn't make any investments in the hybridization as a s

general motors was 2nd only to flint in muncie, and anderson, indiana. all those plans are gone now the middle class has been left behind because when those plans close. busy then the car lock closes and the store closes. daycare is shut down, the bars go away, the restaurants closed because that base income is devon said, it is so bad. and anderson in vienna today as we sit here, there is a conversation going on about just damming the river and turning it into a reservoir. i think you can't make that stuff up. it is so bad that just get turned into a lake. the other thing that you, that you see happening in a lot of these cities is buildings that were one factories right. that housed thousands of workers in many cases, being paid a good wage. middle class americans were able to work. these jobs in factories have now been replaced with popping, right, is, are bucks are sitting in there. and so there are jobs that are still in those buildings. but the wage that someone can earn in those kinds of position is even close against, afford a family working at a

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fox been going up along with general motors, but they're evaluating it. let's say 66 percent over what honda is worth for example. so there's a few things that they would have to do in order to really maintain the level of valuation, which was more like a $120000000000.00, adding what happened to the stock price today. number one is they would have to certainly be able to produce these cars and circumvent the, the chip shortages that were saying i love the fact that they're calling it the mini mean pass lar. but that means they also have to come up with 2 and a half times more than what tester is already promising to produce. and there's a tremendous amount of competition globally. we know tesla has really got that market locked down. everybody's jumping into the space. so you've got the m w volkswagen. besides the, you know, the honda companies and lucid and neo some of the newer companies. so i would say that right now, this pickup truck that is really out there as the end all be all probably at some point. well, the whole thing will step back, it will

this is a long-term fix for general motors. the others have had to rethink supply chain completely.ign, look at the technology. in the future, this doesn't happen again. it's a great question for guests going forward. caroline: it looks like everyone is trying to make their supply chain that much more effective and efficient. let's take on the supply chain issue. sonos just reported fourth quarter earnings that beat wall street expectations. the ceo warned that chip shortage at the holiday season will be challenging especially for growth. it was refreshing to see how transparent you were on all of this. how reggie -- how are you managing to navigate this? >> it is something we have been battling for a year. i am grateful to deliver the kind of growth we reported yesterday. coming in ahead of it expectations. it has been an outstanding year. we were transparent about the fact that we have a ton of demand. the consumer is extremely strong. it's going to be challenging in this quarter and that is all the supply chain side of things. we had to look at how we replace those chips in our p

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 billion? why is tesla not trading for $1 trillion? >> it is the same problem. matt: there is so much liquidity out there. joe: the market price is the market price. who are we to argue? i think ed has done some tremendous work. he has made a really good point about production and other things. who knows going forward. if the market says it is 108, it is 108. matt: joe saluzzi is here. shenali is here. abigail doolittle has an update. abigail: this is super exciting with the shares of rivian up more than 40%. when this stock was first priced, it priced at $62, it increased to $76, and now we are looking at a market cap valuation of $110 billion -- $91 billion. it is incredible. there is so much enthusiasm for the future of these ev trucks. only 200 have been delivered so far. by

general motors is everybody does. and if you start bringing in other people's platforms, it might save you some money, but it also could cost you because review is back logged in, trying to produce vehicles as quickly as they can. so for ford, having their own battery plant, putting $11000000000.00 into kentucky in tennessee means they'll be able to control and just the batteries. but the production of those electric cars are smart to keep it vertical. well, and i mean what, you know, i know we talk about the great technology of a company like ruby and obviously we've talked about tesla so much in recent years . but the fact is, when you look at what their i p o did, and how big their evaluation exploded. i mean, how do we put the, put that together when you really go, they barely have any product on the road yet? well, they had a lot of money in the past, and you had amazon, you had cox, automotive you had forwarded. other companies that have all invested into review or jay's plan to build out the brand. he's the ceo

that put its overall evaluation over $100000000000.00 eclipsing auto heavy weights board in general motors. think about that. these companies have been around forever, but still well below the world's most valuable car company. tesla and speaking of catholic ceo, eli must, has apparently made good on selling a large chunk of his tesla stock. financial file is released wednesday, showed the world's richest man sold nearly $5000000000.00 worth of stock. musk of course, has been made a big show of selling of these stocks to pay taxes related to options that were coming due as he asked his twitter followers to vote on whether he should sell 10 percent of his holdings. and tesla should be noted, of course, that must still hold more than $100.00. 66000000 shares in the company. joyce, now discuss this. there's some other market related news. is michelle snider, she's a partner and director of training research and education at market gauge dot com. always pleasure. michelle. i want to start with reba and is this an overvalue ation here? i know they have an order for one 100000 delivery trucks fr

it's on the border of being able to cross general motors.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 is how they have done it. i don't know if you have seen th

there's a shift in america as well led by maryborough at general motors. -- mary barra at general motorsw do you perceive america catching up with you on electric vehicle engineering? ola: the whole auto industry is in a major transformation as we speak. ultimately, we will go to a world with zero emission mobility. that is what dime or has committed to through our ambition 2039. we want to go co2 neutral not just with the product but across the whole value chain. we observe old and new competitors moving in the same direction. tom: what is the technical constraint? i remember over 10 years ago at the detroit auto show staring at what you were doing and powertrains. -- in powertrains. what is the constraint forward to get this done? ola: there has been a massive development on the technological side, much better energy dozens the -- density on the cells. we are on the verge of having mass electric mobility possible. that is where we are making our bet and investing from 2025 forward in our new vehicle architectures, going electric only. for the whole market to transfer into zero emission

and that's why president biden is coming here today to general motors' new factory zone row as general motors moves from gasoline engines to all battery central vehicle. we had an exclusive sit-down with the ceo of gm's mary barr. we'll have that at 8:00. back to you. >> see you next hour, tom, thank you. >>> craig joins the table now. another big story today, weather. >> a huge story. good morning to you. we're tracking some new problems from that destructive storm that has pummeled the pacific northwest leading to flooding emergencies, evacuations, power outages, as well. we're going to get to al's forecast in just a moment, but first, miguel almaguer is in hard-hit ferndale, washington, with a report. >> reporter: good morning. a this storm has already cost one life on the canadian side of the border. the water quickly receded, the threat isn't over yet. the pacific northwest bracing for more bad weather this week as it tries to recover from its most recent devastating deluge that lasted for days. the result, record rain, widespread flooding and deadly mudslides. >> that's the power

introducing the ultium ev platform by general motors.n. (dog whimpers) . >>> if you want to make sure your holiday presents arrive on time, i have two suggestions for you. the first is order everything right now. the other is sign up to be a trucker. you see the american trucking industry's largest trade association says the industry is short 80,000 drivers. this is creating the biggest kink in the supply chain, according to an article this week in "the new york times" co-written by my guest ana swanson. ana, welcome. everyone is trying to figure out why truckers, why is this the big shortage, even when apparently they're trying to raise wages? >> yeah, that's right. in my reporting about the supply cha chain, it just kept coming back to one bottleneck, which is the trucking industry, congestion at ports or warehouses and shortages in stores. speaking with truckers and people in the industry, the problem really seems to be that it's the working conditions in this industry have really fallen out of favor. for a job that doesn't require a

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

general motors and ford have had a good year, no doubt. but neois up almost big in terms of market cap as well. $64 billion. louis sid bigger than ford, by the way. and close to general motors at this point rivian, newly minted, bigger than all of them and it just went public last week and of course they are all trying to catch tesla with its $1.1 trillion valuation at this point. and taking a look at the stock prices this year, lucid is up 400% tesla, practically the laggard, is up only 50% at this point, which brings us back to the original question. does ev now stand for excessive valuations joining us, a car columnist for the "wall street journal's" heard on the street. when you talk about a company that just goes public at a valuation that's greater than some of the biggest traditional automakers that we know in this world, what exactly does that ring in terms of your minds about what is happening in the entire auto industry >> that's a great question and thanks for havingmy on the show i think the key thing here with rivian is the mo

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introducing the ultium ev platform by general motors. everybody in.g whimpers) new vicks convenience pack. dayquil severe for you... and daily vicks super c for me. vicks super c is a daily supplement with vitamin c and b vitamins to help energize and replenish. dayquil severe is a max strength daytime, coughing, power through your day, medicine. new from vicks. >>> the testimony phase of kyle rittenhouse's homicide trial now over. monday will be closing arguments and the judge's instructions to the jury before deliberations begin. so i want to discuss today with patrick cafferty, a criminal defense attorney who represented jacob blake and his shooting by kenosha police officers setoff the unrest that led to r rittenhouse fatally two men. back with us is paul buker. thank you both for joining. patrick, let me start with you because we could talk about all the questions of bias rolling around. one of the defense's witnesses was an arizona based commentator who works for a far right-wing media outlet. he testified he was in kenosha and track antifa and

his latest stop was in detroit at a general motors electric vehicle factory. >> ♪ people keep on learningoldiers keep on falling war president biden: hello, detroit. it's great to be back. before i begin, i just want to mention three pieces of good news today. first, through the leading agencies on wall street confirmed today, not a liberal think tank, to wall street outfits, the economic proposals we put forward for the nation, the infrastructure law we just signed in the build back better plan are being considered this week and congress will not add inflationary pressures in the economy. here's what one of the agencies said, they do not add inflation pressures. let me repeat that, do not add inflation pressures. reason, because the policies are proposal -- i propose "help lift long-term economic growth by stronger productivity, labor force grows, as well as taking the edge off inflation." we learn the job growth in the the bureau of labor statistics reports yesterday the number of jobs created were lost in the country that month. then they go back and they look at more information. they

tesla is now worth more than bmw, volkswagen, toyota, ford and general motors combined.sk likes to do things big. his factory here in nevada is planned to be the biggest in the world. his tesla cars, well, they are the best—selling electric vehicles on the planet. and he himself? today, he's the richest man alive. tesla hopes to sell a million electric cars this year. elon musk�*s company has become the standard bearer for the electric car revolution. the final good of tesla. if you look back in history and think, what good did tesla do? by how many years did we accelerate sustainable energy? that's like the true metric of success. tesla's vehicles have an average of three kilos of cobalt in their batteries. that's less than some rivals. and the company is removing the metalfrom some of its cheaper models. but analysts say it's still putting more cobalt on the road than any other brand. tesla says it's sourced in an ethical way. it "aspires to be a �*do the right thing' company. in other words, engaging in conduct that your family would be proud of." but the nuns of kolw

which is more than general motors. the 10-year treasury yield is below 1.%. it is actually 1.55.ation and inflation is spiking. what are we going to do about it? this is where the trouble comes in. there is no easy way out when it comes to killing inflation. it is the federal reserve's job to get it under control. they do that by taking money out of the economy and raising interest rates. the question is, when are they going to do that? if they wait the inflation may get worse. f they do that, the markets are likely to take a hit. look at politics. the biden doesn't look good if the economy tanks and we go into recession. among other problems that would be a political disaster before the midterms. he will be tempted to keep so-called doves to the federal reserve board. people that key spending to finance his spending plans. congress is planning more big spending. a cold winter means energy inflation gets worse. no easy way out. i go back to the last time we had the inflation spiral late in the 1970s. it ended when the federal reserve jacked up interest rates and pushed the econom

so if you look at the surge in the qualcomms and the general motors and the apples of the world. i do not see these as overbought at all so i am loathed to try them on right now. >> this is interesting yes, it comes by way of his chief technical strategist, but there are fundamentals as well that are at play here. so it's two sides to the coin as to why we may be at a near-term inflexion point. everyone has been talking about seasonalities on the side that are right in the middle of now and the most bullish of the year for stocks you carry that into next year or is it time that we have that pause and be ready to buy it >> i do tend to agree with tom here, scott, because if you think about the positive seasonality that we've head in q4, we've had it and then some it tends to be 4.5%. we're up 9%, and i do agree with tom in terms of some of the technical i wanticators being stretched here and being overbought, but there are a few fundamental clouds in the horizon, as well i could point to covid cases not only in the united states, but also in china they've been increasing in german

that valuation makes the company already worth billions more than either general motors or ford evenhe 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 rel

general motors, great trend, stock is acting very well. relative to lucid and tess lay take a look at it. >> okay. somebody on twitter suggested that maybe general motors should spin out its ev unit to try to inlock value people are thinking about these kind of things >> it would be worth $100 billion. >> yeah. steve weiss? >> yeah. i like volkswagen better, josh, so sell your gm. my final trade is fedex. nice bounce off the bottom i think keeps going. >> dr. j., why do you finish it up >> scott, jw nordstrom you get to play this one into black friday it is all the way out in december at the 35 strike. i bought the calls during the show >> i appreciate it hope you have a great weekend. thanks for watching. looks like we will break the winning streak for stocks, we will see though. "the exchange" begins right now. ♪ >>> and thank you, scott welcome, everybody i'll alyssa lee. here is what is ahead. stick a fork in the tech trade, that's wells fargo's new message to investors following this week's inflation data. we will speak to the strateg

. >> president biden is going to detroit tomorrow to visit general motors plant.ivers $7.5 billion to build charging stations for electric cars throughout the country. those charging stations will help the sales of general motors' electric cars and the sales of other electric car manufacturers. there is more federal support for the sales of electric cars in part two of the biden infrastructure bill, which house speaker nancy pelosi says the house will vote on this week. that bill establishes a federal tax credit of $7,500 for buyers of electric vehicles through 2026. similar tax subsidies for the purchase of electric vehicles made tesla the most successful automobile company in the world. joining us is victoria, the commissioner of the new hampshire department of transportation. thank you very much for joining us tonight, commissioner sheenan. did you get a chance to speak with president biden today? >> i did. i had a chance to speak with him and our delegation about the importance of this bill for new hampshire. >> how long will it take for people in new hampshir

by the way, when ford and general motors builds electric cars, they're buying 90% of their batteries what? neil: how did china get in this position where they dominate not only all the precious minerals and all that -- >> well, let me finish. china needs lithium for their9 batteries, they didn't have any. so what kid we do? we gave them afghanistan. that's where all the lithium is. now, how did china do that? china has no oil, so they had no -- they had to go to electric so they wouldn't be dependent on us. but now we're going to be dependent on them for batteries. i mean, that is dumber than doesn't and why are we -- dumber than dumb. and why are we doing this? i don't know why. putin is laughing, and guess what? the chinese are laughing at us too. neil: yeah. this is from marlene who writes i still cannot believe that the prices at the dollar tree will go up. it was the only place that had not been impacted by inflation until now, so where do we go from here? >> it's going to go up. maybe it'll -- dollar tree will be 1.99 instead of .99. their costs are going up. i was with a large

finally, no heat in the driver seat, the ongoing global chip shortage is prompted general motors to remove the heated seat option from many of its 2022 options for vehicles as they will use a supply of semi conductor chips for more critical car components instead. also off the table is ventilated seats and heated steering wheel features. captioning sponsored by cbs >> o'donnell: tonight, covid cases on the rise in nearly half of america. the concern ahead of the holidays and a busy travel season. the pre-thanksgiving surge with an increase of new infections in 23 states, just as we've learned the f.d.a. is prepared to authorize the pfizer booster shot for all adults in just days. plus, the major news about a new covid pill that could allow americans to treat themselves at home. awaiting a verdict-- kenosha, wisconsin on edge, and what we're learning about the unusual way a jury the picked in the kyle rittenhouse trial. china's military build-up. our exclusiveinterview with the nation's second highest ranking military officer. why he says the chinese could cah

after its first day of training, it became worth more than ford and general motors.ira 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, rivia

some mined in unsafe conditions and by children in part, why companies like general motors, which plansby 2035 have reduced their cobalt use. >> this is the old team battery. >> reporter: leads gm battery cell development team. what needs to happen to make evs more affordable >> we have to get the lowest cost elements out of the ground. how do we use them in the vehicle and how do we have secondary use in recycling to have it all come back. >> reporter: innovating half of the distance and one day drive down the price the new gmc hummer ev pickup will go 300 miles on a single charge, but has a nearly 80,000 price tag. currently the chevy track is $22,000 can you get an electric vehicle to that price point >> i think so. >> reporter: are we talking five years, ten years, by 2035 >> i bet you for sure 5 or 10 years it will get there. >> reporter: but the road to a cleaner future will take an environmental toll mining still disturbs the earth. so how is this different than taking fossil fuels from the earth? >> we only have to do it once. with fossil fuels, you bring it out once, and then y

there are some one-of-a-kind stuff in there like the first in a reportth of general motors owned and signed by the chairman, the main stockholder, mr. dupont. i have all kinds of crazy stuff that i have collected for 65 years or 62 years or something like that. >> you right in the lifetime limits the most fundamental skill of the curious person is to look into observe. >> i'm sorry, to look into observe. >> yes. yes. i talk a lot about the ways that we learn and you know, one i call studies of being in the classroom as an entrepreneur at the mccombs a business called the university of texas at austin for. it taught a lot of classes i've spoken all over the world whether it's classroom or watching c-span something perceived as being passive it shouldn't beat when i'm watching a documentary i am making notes i'm arguing withnt the documentarian in a lecture or something i'll be taking notes going up after words asking about this or that. that is when we be learned. there are a number of them trial or air experimentation,wa conversation is the way most people learn most of what they kno