>> typically they go in tandem with gm.that's been the way for decades, gm and ford, tandem move in the same direction, although it can change every once thin a while the thing to keep in mind with the price cuts it's overstated by the broader market all evs will face price cuts the mach-e the only vehicle at ford where they're cutting prices because the model y is the closest direct competitor and when you cut 20% off the model y when your forward you don't have a lot of choices. your mac-e much higher and that means that some of those mach-es are no longer profitable which is an important designation that ford estimated some will be profitable at the lower price, but not all of them. >> which leads to a key question, which is the cost advantage that tesla may have over gm and ford as they compete more fiercely. >> it's not a may, david. >> okay. a real cost advantage. >> you're hitting right on it. >> do gm and ford have the innovations they're going to need to be able to compete in the sense of bringing costs down so the

host: how much does gm strategy depend on electric vehicles? guest: we announced a couple years ago and have made a commitment to going fully electric with our light-duty vehicles by 2035. the republican caller just shared right before i joined, this is a transformation of a product portfolio that will occur over the next several years. we are super excited with that. we are introducing new ev vehicle models every year and we will grow in that regard. how much does it depend on the transformation? this is the future of transportation. general motors started out with a wagon. then we transformed our portfolio to vehicles, to the automobile, and then we grew. different propulsion units. being the best and for most manufacturer in the world today and introducing electric vehicles, introducing a lot of technology. america has always led the future of transportation and we want to ensure americans continue to lead the future of transportation. host: what are the costs of your ev models? guest: first we have ev's, battery technology, this year, they

. >>> good day for gm. that stock higher, dee. >> let's get a check on the markets. stocks look to rebound from yesterday's losses take a look root now the dow industrials up 0.25% but nasdaq up more than 1% it's the ev makers, liucid, tesla, rivian there. the dow is up 2% the s&p on pace for its best month since 2019 and the nasdaq, listen to this, it is up 9% this month alone that would make it the best month since july, jon. >> of course it's going to stay that way today's move being driven by at love earnings. nearly every sector from fast food to machinery and energy, while the industries might be different, inflation and pricing continue to dominate the conversation our dom chu has more >> so, jon, as we talk about the reports we've seen, the market reactions have been mixed. we're off the worst levels of the session. they've all been generally good earnings reports if you take a look at mcdonald's, down 2.5%, caterpillar down 4% and exxonmobil up 2% right now, each of these companies earlier this morning reported both revenues and profits above analyst targets

gm is jumping on strong earnings, as well as solid guidance ups getting a boost on a bottom line, and exxonmobil also higher after beating earnings mcdonald's lower, despite topping estimates. and caterpillar at the bottom of the dow after a profit miss. we'll talk to brendan far for the latest calls to ban tiktok and his thoughts on a tighter crackdown of huawei. andkelly will join us. >>> the s&p 500, encompassing the entire nearly 13 months since the s&p did peak for all-time back last january again, we have regained most of what was lost yesterday, up close to 6% for the month. one thing to take note of, still slightly below the early december high. so everything that's happened in the month of january has happened within the range that we also were in, in december it's kind of interesting, and certainly there has been some good, technical information, some indications of new demand for stocks it's not as if we have yet broken out take a look at the home builders these are both hitting 12-month highs today. and here you have the home builder etf, which is not back at the highs but

>> yeah, gm a 6.5 p/e and so i could own in this environment in fact, i do gm >> karen finerman?> yeah, that went fast sitting there in florida nice nice work. mine was pfizer. earnings were a bit disappointing, but the stock was already washed out >>dan nathan >> snap was 9 a month ago. i think it goes back there long there >> i'd be remiss if we didn't point out the amazing crew of people we can't show them. >> i wonder if we can spin the camera around. >> i wish we could spin the camera they did an amazing job. lockheed martin. >> mel. >> thanks. and that'srap a wfor us here in >>> my mission is simple, to make you money i'm here to level the playing field for all invest tors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make you a little money my job is not just to entertain but educate and explain what the heck just happened so-call me at 800-743-cnbc or tweet m me @jimcramer. if we're in a bull market and i th

i want to end on gm.e chief financial officer and a moment, paul jacobson, about what they delivered. those shares surging on most 5% after delivering beats across the board. what is the backdrops? jonathan: can i get a cheaper hummer? lisa: you strike me as a hummer person. is that your goal? jonathan: hoosier is a hummer? -- who drives a hummer? tom: john tucker. at five dollars a gallon, i believe he put it in the garage. through three or four months. lisa: is it electric? jonathan: he lives on the beach. tom: i don't think he can get one. with bloomberg radio, john tucker is so magnificent. jonathan: that will be the first question. do we get price cuts? the federal reserve racing, leaving investors bracing for a downshift. mike schumacher says the following, a stronger dollar around the fed announcement. any hawkish coming from powell along the lines of we will keep rates-extended period might be met with indifference from markets unless the data surprise meaningfully to the upside. we get that data

we're talking about gm or tesla? >> i was looking at gm because that's the one down 43% over the last year, so what do you say to that >> what do i say to that is they're doing everything they can. there was a supply shortage of chips. they're producing cars as fast as they can, they're getting top dollar for it. brin, i hear you on cruise and the technology is working. they have autonomous, no driver in the cab taxis in san francisco and phoenix. they've got the bright drop electric vans. they've got the electrical vehicle business with the chassis and trades at 36 times earnings and i think that's dirt cheap. i see the bull case in tesla and that's starting to get interesting. that might perk scott's ears up, but it's starting to get interesting. i see the peg ratio at 0.8 >> didn't you buy a salesforce do you own salesforce? >> i do. >> what's the multiple >> i believe it's about 25 >> and you owned it when it was even higher than that. >> look, i've said it many times it's hard to peg me as the salesforce bull. >

gm occupied the top spot in the u.s. market for many years but was overtaken by toyota in 2021.shrugged off the supply chain issues that plagued other automakers last year. gm actually saw an improvement in their access to semiconductors. >>> this week, we have been looking at the 2023 outlook for the world's three largest economies. our final report focuses on the united states. the federal reserve slowed the pace of interest rate increases at the end of last year to dampen inflation. but investors still expect rates to keep rising, and they worry about a recession. we asked two experts to explain their views in greater detail. >> translator: i forecast that the u.s. economy will slow as the fed's monetary tightening policy continues. the most concerning factor is inflation. the key is for inflation to calm down steadily. >> last year was marked by a surge in consumer prices as the economy rebounded from the covid pandemic. yasaku believes much of the inflation was driven by pressure for higher wages due to a scarcity of workers. companies had to feed the cost of higher pay thr

the gm numbers with that stock up 3.7%.e looking at a negative market before the numbers hit. you are looking at dow futures down just over 200 points. 203 points exxon putting pressure on that s&p futures off 23 nasdaq down 92 andrew >>> coming up when we return, price wars tesla and ford reduced the eving offering pricing tag will competitors follow? >>> and later, the check on the wealth with paychex ceo hnjo gibson you can watch us any time on the cnbc app we are live in times square this morning. back after this. >>> we have caterpillar out with quarter results. reporting earnings of 83 cents revenue many coaling in at $16.6 billion. ahead of $16.4 billion you are looking at the stock off close to 3%. becky quick, what do you think >> i'm reading through something the company sent me on this. this is from the company take it for what it's worth. they say that quarterly adjusted profit per share included an unfavorable non cash machine energy and foreign translation impact of 41 cents a share which negatively impacted t

has been a blood bath if anybody priced it in, gm priced 60. it's a $37 stock now testimonies at the case of where everybody's priced and concern about demand. >> grasso? >> if there's going to be a price war, melissa, then the one company that wins is tesla they have -- to protect against any price war. they have efficiencies in manufacturing, they're building more plants. there's rumors of an ongoing conversation about a plant in --. this is going to be something where the conversation will go frt ev space to battery space. so if that's the way it's going to be, tesla's a winner in this market. >> you're saying, why? because these price cuts are really putting into, you know, a stone's throw -- the pricing on a ford competing vehicle it's making a lot of vehicles eligible for the federal tax credit so why the doubt over steve's claim? >> i feel as if tesla's had a lot of profitability that's come from ev credits and buying these credits and profitability that i think is challenging i think they have trouble making the three at a margin that w

i'm watching gm. i'm interested it's not so much about the earnings i think it's really going to be more i want to hear about the demand obviously delivery is important, but the demand how is that holding up and i also want to hear -- they have been delaying and delaying a bigger push in ev. i really want to hear about that i think gm financial slows down, which is okay. but it's more about demand for me. >> and guy, which name >> yeah, i want to give a shout-out to my coworkers in brown, number one. number two, mcdonald's reports do they put up a number that justifies? operating margins around 45.5% or thereabouts those are the numbers. i do think they're going surprise to an upside. within a whisper of an all of time high. >> guy got fired from mcdonald's he wasn't willing to wear the hair net. >> but got rehired at domino's and shake shack. so many jobs, not enough time. >>> coming you recollect chevron, its ceo responding to white house scrutiny. >>> later, the lowdown on how to secure venti size

but there's increasing discussion about whether the gm label is still appropriate. or if genome editing should be considered a new breeding method, instead of classic genetic manipulation in the us, china and many latin american countries. genome edited crops don't need to be labeled or controlled as g m. and the sector plans to bring several crops to the fields in the coming years. india also decided to ease its regulations in 2022. as highly advanced as gina editing methods may be conventional breeding will remain as important. neither will be able to make up for the huge burden we currently put on our ecosystems. but they'll probably fill the food gap in the future. to europe now, and a grassroots movement fighting the rampant problem of illegal garbage dumping in bosnia and herzegovina. some 3 decades after the inter apnic war in the former yugoslav republic, the country remains a deeply divided, but people are coming together to restore the natural beauty of this shed whom have when suffered cuba calls. the activists answer over 30, this time aged 7 to 77. he's

what this fits in with gm's transition to electric.a listen. mark: the car itself is so different. and it really is something that takes advantage of the mid-engine architecture and getting power to the front and rear wheels that makes it all weather machine. we are very proud of it. it is an engineering marvel. today is a big day for the whole team. ed: this is the fastest ever production corvette. the electric, or electrified propulsion system is a big part of that. going back to basics, this is not a plug-in hybrid, there are two similar propulsion systems that work in conjunction with one another. my question is, is this a sign that the corvette customer is not ready to go full electric, to go full battery electric? mark: that is a great question. i think the corvette customer is ever-changing, and so is the car. and so i would say this is the next step in the evolution of getting 160 horsepower in the front and 490 horsepower in the rear, all to the ground. and so it is a little faster, a little quicker i should say than the z06,

you know gm building 10 stories tall. look, it's amazing the parisphere and trilon build it cheaply because you're gonna tear it down in just two years. so again in earlier days, there was all kinds of problems of like buildings being built really flimsy because again, like i'm not gonna highly engineer this thing it's gonna be scrap in two years. buildings would blow over in the wind and all that. in fact the parisphere the round building in a heavy storm parts of the facade ripped off of it because they were just sort of like stuck on the outside again. you don't need this to last more than two years. so aside from how the buildings are built. i don't know who actually built them. not to worry. okay, so i know you mentioned attendance surging at for example the uk pavilion but someone is curious. what was the attendance in general like in 1940 versus 1939. it is many people come the second year. we're not so much. so the attendance of these things like everything that everything like this the projections were wild we're

. >> it's incredible have you been in the gm hummer >> i have not, jim >> it is outstanding i always every other ev. suddenly, i'm thinking, what the hell am i doing with an ice? because these car companies are delivering evs that make me say, you know what? this is no longer tesla's. they still are the dominant player but the other ones that are coming out, wow. >> and that is the key consideration for investors. all right, let's get ready for jim's "mad dash. we'll also count you down to an opening bell that's less than ten minutes from now >>> also ahead, don't miss it, our first on cnbc interview with blackrock's ceo larry fink more "squawk on the street" straight ahead >> announcer: is your innovative start-up disrupting the status quo? scan this code or go to d50nominations.cnbc.com. >>> we haven't gotten a delta earnings yet, but we will. the stock is sliding based on those numbers. we'll go over them american also perhaps as well. ford, we just mentioned, along with gm and of course that tesla news so, we're hitting a lot of this, and we got more to hit as we move on here on

we started with gm the stock jumping. tons of news in this report. tons of superlatives also. let's get to phil lebeau to kick things off. >> let's look just at the numbers. we're not going to talk about the ev prospects but just the numbers. these are the numbers that gm investors love fourth quarter way above expectations beat the street on the top and bottom line. they set guidance that was above the analysts estimates and gave a strong pricing outlook they're not seeing a huge amount of pressure that is forcing them to cut prices on new vehicles. they are, however, going to be cutting their costs by $2 billion this year and next yeek c year combined. how are they going to do it? through attrition, trying to be smart about using their resources. the ceo says we are not planning to lay anybody off take a look at shares of gm and ford we're showing you one year they generally trade in tandem for general motors, one important note from the call today regarding evs. they are not cutting their prices they do not believe they need to do that. that's a big difference from ford yes

what was gm today? they were kind of positive, right? >> kind of kind of? the stock is up, like, 8%. >> we're going to sell cars, we're going to sell tractors and planes we know that from boeing i don't know, it's hard to be too pessimistic. by the way, scott, the recession possibility did come down. it was elevated, it was 60%, it's down 50%. both in the u.s. and europe it came down. the one screen kind of tells it all, if you will up 25 expected at the meeting tomorrow 82% see another 25 coming in march. you reach a peak rate of 5%. you stay there for nine months on average, some guys are at 4 and some at 18 >> it's more hawkish >> it is a touch more hawkish. and then it's a little more hawkish but it shows the division, both the respondents are united and not synced up with the fed as well 44% looking for rate cuts, both by december. >> 44% say a hold. so you really have a split >> exactly let me give you one factoid, put up the s&p chart that i have there. i just -- because i like to do averages you don't see it there but that's the outlook flat is the

but gm has big news.started production today for its hummer ev suv at its headquarters in detroit. the the automaker starting to roll out the hot new ev to its 90,000-person-long wait list after reservations sold out all the way into 2024. the edition one suv sold out within 10 minutes. are they going to be able to generate must have of these to keep everybody -- generate enough of these? we've got global vp duncan also red. how many can you churn out, i guess every week, to satisfy the 90,000? >> well, the hummer ev suv has just been a phenomenal success. we paris revealed them to the world -- first ve -- revealed them to the world about two years ago, started taking reservations on the truck and immediately it was a super success. we sold out of our issue one in 10 minutes. a year later we unveiled the suv version that you can see here. again, the edition one sold out in about 10 minutes: and we left the reservations open and, again, the reservations kept coming in and growing and growing. as you mentio

>> it is and it's funny how tesla is now the leader, the big boy, and gm's coming after them. let them come after them. i think the shift is in that we're going to see a push into electric vehicles continue. there's money to be made for these companies there and what's most surprising to me, stuart, not too long ago we were talking about younger people not buying cars and they're going to take ubers everywhere and car sales in the u.s. are going to be down. well, apparently not so much so people still want to high end. stuart: the stock is up 1.5. mcdonalds, is way down this morning. when it came out before the open, the stock was up and it was a great report card, so i thought. sames were sales in the u.s. and grew double digits and people are trading down because of inflation. used to go out to eat at a nice restaurant and now eating more fast food, probably. for mcdonalds, their traffic increased and jot president poses inside to promote the new ev tax credit and costs close to $100,000 and much more than the average salary. am i wrong to call that tone deaf? what did you d

rivian down 9% gm reporting earnings this morning. is concern that tesla's move forward by ford could cause a price battle for electric cars. >>> also nxp fourth quarter beat forecast on the strong sales of chips and the company hiked dividend by 20%. shares are lower with the guidance below estimates. >>> whirlpool posting a loss after the selling of the european business. adjusted earnings beat forecast, but sales dropped 15%. the appliancemaker citing softening demand and that issue has been resolved now they cannot meet demand. >>> and paramount plus streaming service merged with showtime the move which has been rumored forever will take effect later this year. it is aimed at making paramount plus comparable to hbo max which is merging with discovery plus are you following that you have 100 different streaming apps they are starting to merge to look like -- cable tv. there you go >>> all right. still ahead, 54 years later, boeing bidding farewell to one of its most iconic planes. >>> if you haven't already, follow our podcast if y

of support from the public is damar aware of what is happening >> reporter: it seems like he is the gm today referencing that facetime and said during it damar's toy drive came up. the one with the goal of $2,500 an donations now topping $8 million he said damar's mo was laughing saying they were blown away by that then the gm said he made a joke to damar saying you normally hand out toys. you're going to have to start passing out cars lester >> such uplifting news maggie, thank you. >>> there is more severe weather headed for northern california just as the state tries to recover from this week's storms 15 million remain under flood watches. the next storm will arrive with heavy rain tonight and by early sunday yet another powerful pacific storm will sweep in. widespread flooding and damaging winds could last into early next week. >>> there is breaking health news tonight. the fda granting accelerated approval for a new alzheimer's drug for early stages of the disease but it is not without risks kristen dahlgren with the story. >> reporter: tonight, the fda giving the drug called leqe

. >>> and gm is releasing the fastest expect quietest corvette ever, an e-ray hybrid.ker says the front wheels run on an electric motor while a traditional v8 powers the back. this version of the storied sports car is an all-wheel drive and goes from zero to 60 miles per hour in under three seconds. the e-ray starts at $104,000, and gm says it plans to exclusively offer all-electric vehicles by 2035. >>> that's your cbs "money watch" report for this wednesday morning. i'm shanelle kaul, cbs news, new york. >>> up next, madonna's big announcement. the pop superstar is getting into the groove again for a new tour. we'll tell when you it kicks off. ♪♪ remember the things you loved doing... before your asthma got in the way? get back to the things you love... with fasenra. for eosinophilic asthma. having too many eosinophils, a type of white blood cell, can cause inflammation and asthma symptoms. fasenra is designed to target and remove eosinophils and helps prevent asthma attacks. fasenra is 1 dose every 8 weeks. fasenra can help patients to breathe better. most patients

earnings he but beat on condition advanced micro devices out after bell may set tone for tomorrow, gm stock up 4 1/2%, on those earnings, that is one reason the dow industrials are off lows of the morning, the federal reserve kicks off two-day policy meeting this morning expecting a rate decision tomorrow, at 2:00 pm eastern. federal reserve expected to raise interest rates by 25 basis points, bank of england european central bank have meetings this week we will hear rate decisions from them on thursday. european markets this morning are also lower, take a look. the tone was set in the eurozone with fdown 51 cac quarante down 20 dax lower by 55. the international monetary fund cutting growth outlook for uk and u.s. for 2023 lifting global growth estimates due to the opening reopening of china's economy, all after stocks financed lower yesterday finishing at session lows the dow snapped 6-day winning streak decline 261 points at 4:00 on wall street down 3/4 of one percent nasdaq down 2%, 227 points lower ahead of january jobs' report, of course, out on friday. expecting job growth he g

then the gm said he made a joke to damar you normally hand out toys. you're going to have to start passing out cars. lester? >> such uplifting news. maggie, thank you. >>> is a more severe weather headed for northern california just as the state tries to recover from this week's storms. 15 million remain under flood watches. the next storm will arrive with heavy rain tonight and by early sunday y yet anotherer powerful pacific storm will sweep in. widespread flooding and damaging winds could last into early next week. >>> there is breaking health news tonight. the fda granting accelerate add principle of law for a new alzheimer's drug for early stages of the disease but it is not without risks. kristen dahlgren with the story. >> reporter: tonight the fad giving the drug the green light after it appeared to slow cognitive decline in early stage alzheimer's patients in spite of potential risks. >> it was very clear evidence that knocking down this fairly aggressively can slow cognitive decline if starting early enough. >> reporter: a clinical trial foun

it is fundamentally different to traditional genetic modifications or gm technologies. it relies actually on natural processes, but it makes the mutation process much lesser and most gm products contain the synthetic gene or a gene from another organism inserted into the plant or animal of interest insect resistant cotton. and means, for example, grown widely around the world contain a gene originally found in bacteria. instead of using foreign dna, gene editing makes changes in the characteristics of any organism using the information present in its own genetic code using special enzymes, working like scissors, we can delete, swap or repeat genes present in the plants dna. it will take many dozens of generation until you have only this one gene transferred by crossing and then often will not be very viable. the crystal would just take too long. so the it gene i'm editing is really super powerful because it can go and the single gene change it and boil up. it takes 7 to 15 years to get a crossbred plant with the desired trait with gene editing just a couple of months, p

jimmy, you're up first it is general motors jason ziegler wants to know, i have ford and gm positionsrently and with a five-year time horizon, with ford quality issues hitting the media stories, should i add more ford or gm at this time these stocks are down a lot today. general motors down a bunch on tesla cutting prices yet again. >> frustrating stock every time it starts to go, it pulls back let's see what the earnings are. i believe in both wecompanies right now, the platform is very important. there is a lot of things to like at gm. >> if you didn't own this stock today, would you advise people to buy it here >> i absolutely would. i absolutely would. >> okay. riva, i'm a middle school student learning to invest in stocks earlier in the year i bought booz allen hamilton. those picks did well during the downturn i swapped those stocks for growth stocks, adobe at and estee lauder sha shannon, grade the trades. >> i really like this trade. estee lauder is my final trade on the last show which is going to benefit from prestige beauty, and the reopening in china on the adobe side, mig

gm shot the lights out in the quarter and got this lithium investment to record e.v. sales. i got to tell ya, you have to watch my interview with mary barea. brilliant. she's brilliant. hey, then we love "mad money" so a revealing of three more and sharing where i come down on them and with pfizer selling the covid-19 treatment and paxlovid in china, millions of doses going through the headlines so stay with cramer >> announcer: don't miss a second of "mad money." have a question, tweet cramer #madtweets or send jim an email or call us at 800-743-cnbc miss something head to madmoney@cnbc.com. [office sounds] ♪upbeat music♪ ♪♪ ♪when the day that lies ahead of me♪ ♪♪ ♪seems impossible to face♪ ♪a lovely day (lovely day)♪ ♪(lovely day) (lovely day)♪ ♪(lovely day)♪ a bank that knows your business grows your business. bmo. my name is douglas. i'm a writer/director and i'm still working. in the kind of work that i do, you are surrounded by people who are all younger than you. i had to get help somewhere along the line to stay competitive. i discovered prevagen. i started taking it

we i mean, the gm doesn't have a back seat .e cares about is making the money that he's making. >> but, well, i don' makt wantin to turn this into a personalabos grievance thing about the gm or how the hotel is run. whatsted we're interested in, is philippe, is what's happening with the use use of of taxpayer dollars. new york , it's estimated, hasbn spent about a billion dollars. that's the estimate on the illegal immigrants in new york city, including the housing that you're seeing now. we show we're showing picture pictures of weed, marijuana that you said was found at the hotel. so how did or you didn't find it did not go through who who this belongs to . >> i collected it. the marijuana was there was a fight in the lobby. i was there that night and one of the migrants was drunk and he took swunging at on the security officer, hey, on tt get the security for the hotel to come down the nypd responded. and when the nypd entereded d the hotel, the there was a couple of teenagers by the stairs of the lobby to go into the top lob

the gm building was ten storeys tall. looked amazing. they built it cheaply. you're gonna terry down in just two years. these buildings are really flimsy. we are not going to do this. buildings would blow over in the wind. the round building was in a heavy storm. parts ripped off of it during a heavy storm. they were stuck on the outside. you don't need this to last more than two years. i don't know who actually built them. >> not to worry. i know that you mentioned attendance surging at the uk pavilion. what was the attendance in 1940 versus 1939? did as many people come? >> the attendance of these things, like everything, the projections were wild. we get 60 to 80 million people attending the fair. they ended up getting -- i do not recall how it broke down every year. one of the things they tried was because they had projected 60 million people. they wanted to make good on their financial promises. the attendance never hit anywhere near what they thought it would. right at the end of season one, certainly season two, they lowered the price. it did bring in s

the gm doesn't have their back.ing. >> laura: i don't make this about a personal grievance, were interested in felipe is what is happening with the use of taxpayer dollars. new york is estimated has been about a billion dollars, thus the estimate on the illegal immigrants in new york city including the housing they are seeing common outward showing pictures of weed, marijuana that you said was found of the hotel's out if you find a question mark so you didn't find it you know who this who this belong to? >> i collected it the marijuana it was a fight in the lobby i was there that night, or the migrants was drunk and he took a swing at an officer and hit him on the head. the security for the hotel to come down and when he responded nypd and to the hotel is able teenagers by the stairs in the lobby going to the top lobby with two cups the destructive weed on the stairs and i've seen it. i took pictures of it and i collected it. >> laura: will fully pay if all americans could see what you've witnessed just in the last

these p.o.w.s sending gm for good morning and gm for good night long before anybody ever thought of cell phone. so it was an incredible way to communicate and to keep, you know, to each other positive, keep each other in the loop, keep you, keep other part of a fighting unit. and so they're the american p.o.w. who are communicating as best they could and trying their not to give up any information to the north vietnamese. you know, the geneva conventions don't allow a captor to ask except your name, rank, service number, date of birth and the americans did a pretty good job of just that for for a couple of months until about november of 1965 and november 1965, there were probably about 70 or so american p.o.w.s there in hanoi, maybe a little bit less so make you be jim stockdale again. you go into this called room 18, if you go to the hanoi hilton in downtown hanoi today there a hilton hanoi which is a hotel, but there's also the hanoi hilton prison. and you can go see sea the prison. you can go to room 18 and room 18 is where a lot of the interrogations happened. and so jim stockdale wa

gm says it'll be the faster corvette on the road traveling 0-60 per hour in 2.5 seconds.rice tag for the electric and gas sports car starts at -- never mind, liz. $104,000. plans o unveil a fully electric version in the future and gm ramping up and stock is down slightly at the moment and ramping up as evs grab 10% now of all auto elect a speaker sales around theworld and u.s. 0 fully electric cars in 2022 and that's a 5.8% year overyear increase and hyundai-owned kia america posted its best december sales ever with a boost from electric vehicles surging 142% year over year for the month. while total auto sales for last year popped 25% higher than 2021. hear more about this and joining me in a fox business exclusive, kia america coo and executive vice president steven center. you guys unveiled seven evs last year. tell me about the sales. >> it's very exciting time for us. we celebrated our 30th year of incorporation in the u.s., and our 10 million sale, which incidentally was an ev6, which is our new all electric utility vehicle. it's a big change in what the market's as

this is for gm and tesla. airlines up 1.6 and it is a delta story. even if demands are ok margins compress which seems to be the story and one sprite -- what is priced and becomes a hurdle for the market. guy: it is going to be interesting in any season and guidance will be fascinating. let us talk about the car story. these are some of the names that you would compare with tesla, competing with them. bmw down 1.7%. forshee -- porsche down by a little bit. mercedes, one of the closest representations of tesla if you think about the ev story, and bmw is there as well. down by 2.55%. did tesla just started a price war in europe is one of the key questions that a lot of people are asking? alix: this is the perfect chart to backup up your point. is and should tesla be valued like a traditional car company and this is from dan curtis. the yellow line is what the market cap is. $382 billion. this white and blue line it is what the market cap would be if it was valued at mercedes pe. the white line is gm's pe. this difference is 76% lower and that is a huge

chevy volt, ev, log to record sales in 2022 and gm announced $650 million stake in lithium america for the largest known lithium mine in the us, the move will support battery manufacturing for one million evs a year, gm says we will be asthma in ev production by 2,025, this is a step to getting there, stock is just below 40 a share. mcdonald's, what earnings recession, defining wall street expectations, beat on the top and bottom line driven by higher menu prices and hot digital sales, stock is down one. 5% after mcdonald's said inflation will pressure margins in 2023 but insists it's consumer is resilient because they are addicted to the french fries. you are looking at one of them. the other dow lacquers, just five at the moment, chevron, ibm, caterpillar, rest are in the green. we've got home depot, unitedhealth group, dow, microsoft, goldman sachs and 3m. to the oil patch with earnings recession nowhere to be found, exxon reported a record $56 billion in profit for 2,022. fourth-quarter revenue did miss and it is a fortress balance sheet to have firepower in an inevitable future do

ford and gm are doing but they can and it depends on the patient's of the timeline investors have. kriti: ed ludlow, cohost of bloomberg technology and we thank you as always. you can catch him and caroline hyde. let's zoom out and look at the broader market picture and joining us then kristina hooper. she is on set with me. what is interesting about the ford story is that this is not just a eeev story. competition is ramping up and talk about what that does mean for the stock -- stock market broadly. jon: --kristina: what we are seeing is cost going down, the end prices to customers going down and that is part of waiter competition for every dollar and expenses going up at the same time. in this earnings season, what we have heard is that costs have gone up for most companies and at the same time that they are cutting that -- those end prices. ultimately, this should be right -- positive and i like to take a step back and ask -- look through the lens of the fed. this gets us closer to the fed hitting the pause button. jon: against that backdrop, what is your general sense of what

where do you put tesla relative to gm?umulating with experience on the road i think tesla is clearly in the lead given the number of vehicles that produced over the last number of years, the data that they're accumulating and using that to improve their systems. i think gm and ford, they're putting more and more vehicles out there on the road. they're behind, but i think they're going to catch up quickly as they get more and more vehicles on the road. >> okay. mark, always good to see you appreciate it. thank you, sir. >> all right see you. >>> when we come back, a number of airlines reporting results and updating their guidance. phil lebeau has it all for us. he's going to break down the sector and this morning's announcements right after this break. >>> start with capital's barry sternlicht never one to hold back when talking about the fed, inflation, the markets he will be our special guest that starts in a few minutes "squawk box" will be right back. >> announcer: time now for today's aflac trivia question. the practic

gm says things are fine -- no pun intended what is going on?last week we had statisticians in the beltway tell us they made a minor asia record in second quarter of 2022. instead of 1.4 million jobs, it was almost negative 300,000. neil: things are bad. in your eyes the idea job market is strong that is just a mirage? >> i'm sorrow the bureau of labor statistics in washington, d.c., is telling us that as they come through with revisions. statisticians have a hard time capturing inflection points, they do a 1.3 negative job revision for 2022? neil: it would take a long time to pare those available jobs, right? >> the job postings specifically to poach your competitors best worker who you don't have to spend money training, those job openings are through the roof. job openings to pull unemployed americans off the sidelines have flat-lined. that is a fed staff research paper i just cited. neil: that sounds exciting. get your take on those who pair this to the carter stagflation catching up to us. i don't see that. you do, right? >> i don't necessa

he let's start with gm. the stock is up almost 4%.n earnings per share, 2, 12, street looking for a buck 69. they also had a strong beat on revenue, $43.11 billion, the estimate was 40.65. a strong beat on revenue and earnings. i want to say here they're talking about 11,000 new jobs being he created in north america. they're going to be building four u.s. cell plants, lithium batteries. that's the big news on general motors. let me get to exxon, another one we were looking at. double beat on exxon right now. the stock is down a little more than 2 and-a-half percent. the stock was moving higher going into the report. 340 earnings per share, estimate was 329. so a strong beat for exxon. 95.43 billion on revenue. and the estimate was 94.67 billion. really quick, i do want to get to caterpillar right now. they that's a little bit of a different story from what i'm seeing on the numbers if i get anything wrong, please correct me. i'm looking at 386 on earnings per share for caterpillar. the estimate was 402. so it looks like caterpillar,

ford, gm, got off to a great start. you see the same thing another stocks, carnival cruises, people might sell them to realize tax losses, and the january effect. jack: president biden is calling for democrats and republicans to rein in big tech. scott galloway says they won't succeed, that's next. >> "barron's roundtable" and brought you by global x, beyond ordinary etfs, visit foxbusiness.com/"barron's roundtable" and. jack: silicon valley stumbling, more layoffs are on the way. what does it mean for the tech industry and the economy as a whole? joining the nyu professor of marketing and author of adrift:america in 100 charts. scott galloway. thank you for joining us from munich. you have been warning for more than a year of the patagonia recession. we've been seeing a lot of layoffs in the tech space. how far. go? do you see that spilling into the rest of the economy? >> i believe it is going to go much deeper. if you look at the increase in hiring, amazon had half a million people in one year. no one had done that b

and so as we take on more teslas and as you know we committed to buy 175,000 electric vehicles from gmover next five years, interoperability and our engagement on behalf of customers with any and all networks are being developed, you know, that will put us in a place to make it easy for customers to get to a charging station. >> thank you very much appreciate the conversation. thanks >> and still to come, we will continue to watch markets. the dow off the lows of the day at this point. one key front capturing the markets attention is washington. and that debt ceiling showdown that is brewing. we'll discuss what a shutdown could mean for the economy when "power lunch" returns. [music - cover of blondie's “dreaming”] [music playing] ♪ imagine something of your very own. ♪ ♪ something you can have and hold. ♪ ♪ i'd build a road in gold just to have some dreaming, ♪ ♪ dreaming is free. ♪ accenture, let there be change. osisko development is a premier gold mining company with a goal of achieving mid-tier gold producer status with the company's advanced-stage projects located in north americ

. >> former san francisco giants gm, brian sabian has joined the new york yankees as their new senioriser to gm, brian cashman sabian spent 30 years with the giants leading organization, the 3 world series titles won in 2010, one in 2012 and one in 2014 sabian also served as the giants executive vice president for the past 5 seasons and he's returning to the yankees for the first time since 1993. where he was a scout for 8 years. all righty. that is your look at sports. we'll be right back after the break. >> out of time. so that's it for kron. 4 news at 9. appreciate you joining us this hour. stick around, though. a lot more news to get to tonight on a busy news night as the storm looms. ken and catherine here with a look ahead. that is definitely the big story tonight. get ready. because here it comes. the bay area bracing for that major storm. >> it's rolling in tomorrow. the list of possible problems includes flooding. i'm just high winds and authorities say the risk of death. >> and that shocking story of a family in a tesla going off a cliff. the devil's slide that takes on the

host: how much does gm strategy depend on electric vehicles?: we announced a couple years ago and have made a commitment to going fully electric with our light-duty vehicles by 2035. the republican caller just shared right before i joined, this is a transformation of a product portfolio that will occur over the next several years. we are super excited with that. we are introducing new ev vehicle models every year and we will grow in that regard. how much does it depend on the transformation? this is the future of transportation. general motors started out with a wagon. then we transformed our portfolio to vehicles, to the automobile, and then we grew. different propulsion units. being the best and for most manufacturer in the world today and introducing electric vehicles, introducing a lot of technology. america has always led the future of transportation and we want to ensure americans continue to lead the future of transportation. host: what are the costs of your ev models? guest: first we have the bolt. the bolt is the most affordable ev for

than gm. in the fourth quarter for all of 2022, sales were actually down 9.6% for toyota.n you've got hyundai, december sales up 40%. remember, it's a year-over-year comparison and we're still dealing with lumpiness when you're seeing companies coming out of the restrictions and tight market when it came to semiconductors as you take a look at the auto index, auto sales are expected to come in between 13.8 and 13.9 million that will be the lowest rate since 2011 and it's not a surprise we knew this was going to be the case now the question becomes how much can they increase sales in 2023 most are saying they believe that the industry can get sales back up into the high 14 million. potentially if things go well. 15 million range but again, you never know what happens when you have a recession if a recession hits. >> absolutely. phil, thank you. and that does it for the exchange "power lunch" begins right now >> indeed, it does welcome to "power lunch," everybody. we are just seconds away from the release of the fed minutes from the latest meeting. ahead of that report, stoc

companies like tesla or ford or even gm are seeing success in this space. once you see that growth in a particular segment, very quickly everybody follows. host: what is your office and what role are you playing in this industry? guest: i am super excited to be the relatively new executive director of the joint office of energy and transportation. what is significant about this is it is the first time the federal government has started an office that spans multiple agencies. we harness the incredible resources, skills, intelligence of people within the department of transportation, the department of energy, and to some extent the white house. there are brilliant folks in the white house working on policy and we work with all of them every day. it is growing the decarbonization -- the decarbonization blueprint for transportation was just announced last week at the d.c. convention center. that also expands to hud and epa. we work with epa on their school bus program. we work with fta on their transit program. our first focus is $5 billion for the national ele

and i realize they're all gm vehicles. turns out gm has hired jeff ricchetti. he's the brother of a white house counselor for three hundred and forty thousand dollars. he's their lobbyist. and they got a heck of an endorsement from the president today. there was a lot of product placement in this event where one after the other after the other. laura , if you have one hundred and five thousand dollars, you can buy that corvette. and i'm just going to say it. biden looked like a child today. it's embarrassing. he was walking hand in hand with governor wittmer. >> now, this is what you do to little children, honest home clients. yes, i got to it. it's embarrassing to treat the president, the united states , like this, our head of state. and if our media can't be bothered showing you any of this and they didn't, they sure have cleared the schedule to cover every moment of the queen's funeral. now, major event should be covered and fox is doing it appropriately. but when we have midterms looming law in the u.s., i'm sorry, some of this is just gilded, meaningless d