we're all over afterhours action shares of kb home and lennar on the move "fasmoy"s ckn o. t ne iba itw finding the perfect project manager isn't easy. but, at upwork, we found him. he's in adelaide between his daily lunch delivery and an 8:15 call with san francisco. and you can find him, and millions of other talented pros, right now on upwork.com i was having challenges with my old bank. lots of red flags. yellow ones, too. fees, penalties... unnecessary fees! playing dirty. so i broke up with bad banking and moved on with sofi checking and savings. now, i get up to 2.0% apy on all my money, and pay no account fees. feels good to get my money right. banker disqualified! break up with bad banking. get 2.00 percent interest, and earn up to $300 when you set up direct deposit. sofi. get your money right. pst. girl. you can do better. when you set up direct deposit. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill ove

i'm intrigued lennar is moving up 3%. lauren: on a day sentiment tanked. here is why.ot only up graded lennar, they did so by two notches from underweight to overweight. they say it is going to $89. they report on wednesday. they upgraded other builders the reason is, they have come down too quickly. stuart: this is the other side of the fence, zillow, real estate company, they're down. what's the story? lauren: this is the reaction we expect to see when you got the homebuilder sentiment report. zillow said the typical home value fell .3% from july. that is the largest monthly drop since 2011. the market has been strong. if you look at the annual data home values according to zillow are up 14% from a year ago. stuart: how about, lauren, ralph lauren would be. up two or 3%. lauren: china is also ending some lock downs. that helps them. they have a good deal of revenue comes from china. they're also returning two billion dollars to shareholders in the next three years. stuart: i would have thought ending lockdowns in china would be positive for the overall took market bu

kb home down 4%, lennar up 2.5%. both reporting be better-than-expected earnings. kb home taking a bigger hi on that front with new orders down 50% in the third quarter versus just 12% over at lennar. maybe some geography at work, where they're building homes, where their base, kb, primarily on the west coast. all right there are your numbers. now let's dig a little deeper and begin with the fed decision fallout and the impact on your money. and as always, we've got every angle of the story covered from macro to main street to the markets. steve liesman looking at what is next for the fed and fed hikes around the world diana olick is all over the impact to your home, the mortgage market and the housing market overall and bob pisani is at the nyc with how the fed's hawkish statement might impact the fed's earnings outlook steve, let's start with you. i don't know if you've slept in the last 24 hours, but this is a big story moving anything. >> not a lot of sleep and no place to hide, brian, anywhere in the world from rising interest rates global central banks today

lennar seems to be making a ton of money and i'm not saying they're not concerned.hey see what we see but both of them have increasing gross margins, and david, if these companies are making more, year after year, again, that does not fit with what powell wants. >> no. i mean, to your point, fwrgross margins at l ennar were up 190 basis points year over year. >> there you are again, what powell is fighting is the idea that people can still raise prices, and that gross margin increase was involved with bryceprice going r and as long as he sees that, he's going to keep raising rates. >> yeah. well, when's it going to end, jim, is the key question, and where? i mean, we can just keep asking that question. the market continues to. what's the terminal rate when are we going to get there and how long are we going to stay >> historically, what happens is you get to equilibrium, and then you fall off a cliff, and the cliff, i think, is within the next three months. there will be -- there's buyer's remorse. people will just say, you know what i'm not buying a house i can sta

lauren: we were down yesterday, they are up today, you see solid 1% gain for lennar and dr horton and 6% and many of these names are down 4% as well so a temporary left after an ugly week. stuart: was it 600 to? lauren: 6% for a year ago. we want telling about snap. snapchat. >> now available on desktop to everyone everywhere. it is a small improvement but tiktok's contender, instagram, snap is too and it is more secure because you can't screenshot a picture but with phone on the desktop. stuart: why am i getting constantly lost this morning and technology, why is this? it's not just a short-term thing. lauren: it is pretty easy, snapchat, the social media apps, snapping to your friends. stuart: i have always wanted to do that. i sit in front of my computer -- >> going to pull it right out. lauren: he does not use a computer. >> he is a computer. stuart: moving on, las vegas sands, got something on that? >> up 4. 5%, one hundred 60 one hundred 7 companies benefit from casino licenses in the world's biggest gaming and i thought the transition was going to be something like inflation. s

fed will every shadow anything said by individual companies but got important ones reporting like lennar and kb homes. both home builders will be soft, how can they be anything else with mortgage rates soaring so fast we need the price of housing to come down if we beat inflation and anything that indicates cancellations the number i'm looking for or a lack of traffic should be well received by the market and very strange. the home builder stocks moved up today because some investors are beginning to think maybe the fed knows it can declare victory not far from now meaning that they may hold off from rapid fire rates after wednesday because they don't want to blow it up. next week is also dream force. that's a pilgrimage of tech run by salesforce.com mark we'll be out there to cover it and pay close attention to wednesday's analyst meeting. salesforce is a worldwide company that used to be a good thing but being hit by the strong dollar everywhere and that's not what people want to hear salesforce like nvidia is part of the tech bear market. i don't think we'll hear anything that tells u

and a group of stocks leading the way lower, names like whirlpool, caesars, lennar, bath & body works oil prices down about 2% today the energy sector of s&p 500 down about 1%. we saw interesting data in that from the cpi report as it's fallen and will see how that moves at the end of the session. let's get to rick santelli tracking the reaction in the bond market to the cpi report. hi, rick. >> you know, what isn't going on pretty much. looking at an intraday of 2-year that sums it up. all maturities looked similar. we are on pace to close at the highest yield close since 2007 in a 2-year. 2s, 3s, 5s, 0s, 30s all at new contract high yields only two that aren't at this point are 10-year and 7-year we need to pay close attention to both at the moment, especially 10-year anything under 3.48% isn't going to get us there. why is that so important because that will release a lot of pent-up selling according to the technicians. look at intraday 30. we had an auction today. 30-years went quite well but that's because investors had the luxury to see the cpi data fed fund futures this is a ja

holm and lamar topping earnings estimates in recent quarters rising rates putting a chill on demand lennar by 50%. home builders hit hard average rate on 30-year fixed more ratch climbing over 6%. highest level since 2008 a tough call a lot of cyclicals look really, really cheap on current earnings but the fed is explicitly looking to have a housing market retrenchment already under way and haven't seen mortgage rates like this in a long time even as house prices have gone up where does that leave you? >> leeaves us unexcited in the home-building area you mentioned. mortgage rates are highest since 2008 so that is a head wind we think is going to keep pressure on the group. certainly maybe because you have very low inventories that could be a benefit, but in general our feeling is that while last year we had much of the earnings decline and, therefore, this year it won't be as bad the other area, such as household furnishings and appliances we think will see double digit declines in 2022. >> all right yeah certainly a rapid turnabout in all of those product areas meantime, block down again

the buyers' mortgage rate, they can't lower their own prices by much one of the largest builders, lennarorted earnings saying they raised prices by 15% in the last quarter, shep. >> thanks very much. >>> four more people are confirmed dead after hurricane fiona's rain battered puerto rico on sunday authorities there say that brings the death toll so far to eight. police say they found 56-year-old man's body inside his home found another man's remains in a field near a river cops say he likely drowned after flood waters washed his car away the fire department reports two more people died after they breathed toxic gas from a generator. a man and a woman both in their 70s. fiona now a monster category 4 storm. max wind 130 miles an hour the storm forecast to brush by bermuda friday morning and then head towards eastern canada way up north early on saturday no threat to the united states meanwhile, in puerto rico people are clamoring for gas to fill their generators after days without power. still, more than a million people on the island are in the dark that according to the website powerou

lennar, the homebuilder reports. so does fedex which is interesting. it reports on thursday. that will be the full report from fedex after the big sales warning that really shook things up in a big way last week. that is where we are. this pattern after bounce back after a selloff. maybe we'll see it. we're going back and forth. neil, when we think about it, it is a central bank preview, the fed wednesday, don't forget the bank of england on thursday as well. neil. neil: thank you very much for that, connell mcshane. speaking of bang of england, all activity to a halt, saying final good-bye to the queen elizabeth ii finally buried today. the government was shut down essentially today. the government in pretty much 12 days very little activity. we'll keep you posted on that. the markets closed there, the pound in and out of nearly four decades low. the reality of life return for britons, certainly the new king, king charles iii, and the new prime minister liz truss who apparently is going to announce tomorrow the plans to deal with the energy runaway costs there, including pot

don't need to know the price of the dow you just need to know the price of kerry gold butter or a lennar three bedroom if they come down not just last year but two years ago, three years ago your stocks can maintain if not go higher. until then, we get sporadic rallies that tend to fail or stocks with positive catalyst but the bottom line is these gains will be mooted until cheerios are bogo and homes lose value the minute you get them. let go to miko in illinois. >> caller: jimmy, jimmy, we got a big boo-yah for you here in chicago. how are you? >> i love that i'll visit chicago in october. can't wait one of my favorite cities. how can i help you >> caller: bristol myers i'm thinking of lowering my cost average basis a little bit what's your take on the company -- >> i like bristol myers. at 67, that's the level that i've been looking at it's a good one. how about jeremy in pennsylvania, jeremy >> caller: boo-yah jim jeremy from pennsylvania. >> what's going on >> caller: shoutout to my friends doing missionariry work in the u.s. and abroad. >> absolutely. >> caller: ups with fedex's re

. >>> now time for option action kb home and lennar set to report before the bell tomorrow option traders betting it could spell trouble for the sector mike khouw has it. >> the result of the 49 puts over 3,000 of those traded for just under 90 cents. that continues on the bearish name after we saw 23,000 november put spreads trade as rates have gone higher so have the interest if puts on xhp which has more than quintupled since march. >> for more "options action" tune in friday at 5:30 coming up jackpot trading. does the group still have lady luck by their side and the traders are placing their bet traders are placing their bet when "fast money" returns. when traders tell us how to make thinkorswim® even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim® web. because platforms this innovative aren't just made for traders -they're made by them. thinkorswim® by td ameritrade ♪♪ ♪♪ ♪♪ be ready for any market with a liquid etf. get in and

if you look at pulte relative to lennar, pulte is the one you want to own. but if i look at where the housing stocks have done versus the s&p, they're actually flat to the s&p, which is almost yeomanlike oreowomb man like when you consider when going on like you're talking about performance to their targets they're seeing 22% upside. i bet if you pull analysts around the street, i don't like the interest rate sensitivity. part of the call needs to be really that we're starting to see some peak on mortgage rates. that to me would be an argument that at least i could begin to try to argue around, even though it with australia day when the ten-yet to, i think close to 11-year highs, when we got above 350. >> what about you, karen >> i agree if rates have sort of maybe popped up, peaked, they ended up off their highs from today so if that's the case, then you can make a case for why the home builders should be doing well. try not to read too much what happened today i feel like positioning around the fed, i kind of feel like it's a game of dodge ball. a lot of p

we'll get releases tomorrow from kb home and lennar and should get color on where this volatile housing >>> let's get a check on crypto, specifically bitcoin, which is stuck below 20k. it's actually around 18.6 right now. continuing to fall it's now down more than 5% this month on top of big losses for the year that said, there are still some bulls on the street. michael sailor's microstrategy is buying the dip, acquiring an additional 301 bitcoins for around $6 million in cash. between august 2nd and november 19th that's an average price of $19,851 per coin the late summer buying a drop in the bucket for company's bitcoin holding. microstrategy holds around 30,000 coins average purchase price of just a little over 30k per coin of course, this is a company, guys, we've been following pretty closely there have been a lot of changes there as well, as i believe sailor was co-founder and ceo is now chairman and stepped aside, right? >> it hasn't diminished his belief in bitcoin whatsoever he comes on and is one of its main proponents. amazed how well followed he is when we bring him on, too

this is where lennar should be saying, do you know what, we have too many homes, horton should be sayingoo many homes. tolls. this is the first time we needed these guys to be stupid, it turns out they are all smart. doug yearly who runs toll brothers he watches us and he said i outsmarted you guys i don't have a lot of homes to sell darn it. that's why we're getting hurt. the new guys are much smarter than the old guys. i think they have a lot more technology. >> say the same thing about the oil business, maybe the hotel business cyclical industries that typically overbuilt in a peak cycle. >> when i saw expedia, mr. kern, one of the things that was very clear was that it's tight. we need chesky to say, okay, listen everybody, just go airbnb for four months until this thing is over. that's not going to happen carl, this rent thing i keep trying to think what happens as they continue to raise rents all i can remember is you weren't allowed to raise rents for a couple years those were the people -- i will tell you the two things that worry me, rents and weddings i was sitting next to a gu

keybank upgraded three builders, hor horton, lennar and pulte as they are all three underperforming theing. welcome to another hour of "squawk on the street. i'm carl quintanilla and morgan brennan making her day back after maternity leave. >> glad to be back what did i miss? >> not too much. we missed a lot of coverage from you. i'm looking forward to that as well >> oh, yes oh, yes. i did not come emptyhanded before i get to that, i want to give a little shout out to my family, given it is day one back from maternity leave i think we have pictures here. max is almost 4 months old he joins his sister who is 6, in first grade, and nico, who's 2 i love the matching pajamas. all of my. pictures on tv are matching pajamas. everybody is doing well. family's good. it's even better now to be back here >> yes, it's wonderful we look forward to some resumption of defense and space coverage, i hope, maybe. >> yes, you can. as i mentioned, i might have been busy coming into the weekend, i went to boseman, montana, caught up for a tv exclusive will tech billionaire and astronaut jared isaacman who

horton is now up a half a percent with the pre-market trade and lennar is up about 2.5% and prologisst tied to the industrial things and it is up 2.75% and we'll watch real estate-related stocks also, another place to keep a key keen eye on, and they tend to do better when the economy does better and as opposed to being more insulated like utilities and staples. cf industries and mosaic both in the fertilizer space up 2% to 4% and albemarle, and titanium and that sort of thing one of the plays to keep an eye on is the interesting upgrade from the folks at cantor fitzgerald and the initialization they've now taken lucid group and covered it witha know overweight rating and that's roughly 60-some percent higher than where we were yesterday they think lucid has things like range, luxury offerings and that sort of thing and that's helping to shape their view. they think they're up and lucid, this is a stock that's lost half its value over the course of the year and we'll keep an eye on those stocks and we'll send it over to you. >> thanks, dom >> chicago fed president, charlie evans says