morgan brennan spoke with the secretary at the reagan national defense forum. morgan, is the u.s.losing this arms race? >> well, that is a key question. here at the biggest defense conference of the year, china is a key focus as this topic gets here secretary kendall said he told me he returned to government service specifically because of china. it's a broader arms race but unlike anything we have seen before. >> china has been moving into hypersonics fairly aggressively and doing some testing and moving towards fielding capability i regard that as an extension of what they were doing already it's the next step trying to extend their capabilities. the u.s. needs to respond to that. >> and hypersonic missiles are a piece of that. >> we're not in a traditional arms race where we try to buy more than somebody else and they try to buy more than we are. we're in a race for quality. we're in a race for military superiority, largely through technology and china has observed, going back to the gulf war 30 years ago, how we project power and what we rely upon to do that they have been bui

cnbc's morgan brennan spoke with the air force secretary at the reagan national defense forum. winning or losing this arms race? >> well, that is a key question. here at the biggest defense conference of the year, china is a key focus as this topic gets debated. when i spoke with secretary kendall just a short while ago he told me he returned to government service specifically because of china and for the secretary of the air force, it's a broader arms rac but unlike anything we have seen before >> we're not in a traditional arms race where we try to buy more than somebody else and they try to buy more than we are. we're in a race for quality. we're in a race for military superiority largely through technology and china has observed, going back to the gulf war 30 years ago, how we project power and what we rely upon to do that and they've been building systems that are increasingly capable over a long time now, trying to target those assets of the united states. >> and hypersonic missiles are a piece of that. >> china has been moving into hypersonics fairly aggressively and the

visit indeed.com/hire >>> i'm morgan brennan at the reagan presidential library where the biggest defenseis happening. there's a lot on tap, afghanistan, russia and china, in what's being referred to as the new arms race. china is the biggest threat to the u.s. it will be a big topic here over the weekend. and it's one we're going to get into exclusively with the ceo was' northrop and united launch. in the meantime, more "squawk on the street" after this break [energetic music throughout] what's strong with me? i know when i'm ready for a rest day. ...so i can be ready for anything... tomorrow. find out what's strong with you with fitbit sense and daily readiness. this is elodia. she's a recording artist. 1 of 10 million people that comcast has connected to affordable internet in the last 10 years. and this is emmanuel, a future recording artist, and one of the millions of students we're connecting throughout the next 10. through projectup, comcast is committing $1 billion so millions more students, past... and present, can continue to get the tools they need to build a future of unlimite

thanks, morgan brennan >>> yesterday we were talking about fedex versus ups and would you rather ups is trading at a premium and fedex is trading at a discount which one would you bet on guy? >> fedex i worked in ups and was one of their best employees of all time they have written a letter to that point even if you talk about $20 m earnings, you put a 15 multiple on that, that's a $300 stock even more so in this veermt wh -- environment where people are starting to focus on value i power pitched this sucker about 290 and it went straight down be warned. but i still like fedex >> tim likes it. >> i am long and like the relative value pickup. you are six or seven turns cheaper in fedex ups trades at a premium for a reason i look at investments. the investment and commitment they made prepandemic, it sounds like some of the logistics amazon made when they weren't rewarded for it. some of it has been the growing pains of the mass iive volume shift. with some of these coming online seemingly telling a better story about labor, this is a decent formula. everything wants to make you own fe

. >> ping-pong session i'm morgan brennan in for sarah brennan.essure and adobe and chip stocks seeing biggest declines and mega tech apple and tesla falling as well and investors trying to make sense of the fed's latest guidance including a mor

i don't know if you heard morgan brennan talk about it today. she did a terrific job and a great story but remember it is not about the nvidia part, it is about much of the things that they do with the defense department and morgan pointed that out. but i like lockheed very much. i thought the northrup interview was good too i think we'll be in some pain next week but given the crushing blows i believe that the santa claus rally to kick in sooner rather than later. on mad mn tonight, boot barn and the company's top brass. then this week's volatility was an important reminder to make sure your holders are diversified and you don't own every tech stock and that is why i'm playing am i diversified and speaking of tests. you have stumped me so i'm turning in my homework on two stocks one that i think you might actually want to pull the trigger on stay with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer, #madtweets send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-7

stay tuned >>> morgan brennan, danielle shay, tim, thank you very much for rapid fire today >>> comingst made it one of the top picks for 2022 we have the name and the reason why. if you wake up thinking about the market and want to make the right moves fast... get decision tech. for insights on when to buy and sell. and proactive alerts on market events. that's decision tech. only from fidelity. that's decision tech. ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. ("jingle bells") ♪ (doors knocking and bells ringing to the music) ♪ - [announcer] this holiday season, give the gift of grubhub. ♪ >>> welcome back boeing is not exactly the first name you might think of as a top pick for 2022, but maybe that's the point. the stock is down 15% over the past year as it faces one bad headline after another just last week american airlines was forced to trim international flights next summer, not because of deman

. >>> good wednesday morning welcome to another hour of show show morgan brennan and david have the morningnd 4800. dow 36.5 as we continue to watch record covid cases and the continue sweep more tolerant than years past >> we're already three minutes into the trading session starting with tesla. shares off initial highs following news that elon musk sold another $1 billion of the shares, nearing the 10% target that name up more than 50% year to date. and didi down as it moves to delist in new york shares down more than 60% since the ipo earlier this year. and well end with the nation's largest egg producer under pressure after reporting earnings below forecast with a bottom line hit for higher costs of packaging and labor that stock down about 6% in a rare earnings report this week >> and meantime, cnbc is out with a new quarterly stock report polling participants in how they think the s&p will perform next year, with more than half saying they'll be up less than 10%, while less than 2% will hit similar gains to this year, up more than 20, of course. of course that number's more close to 3

i'm carl quintanilla with morgan brennan and mike santoli live at post nine of the new york stock exchange morning off. the blue chips continue to outpace tech with the dow up better than 1% the nasdaq in the red. busy week ahead as we continue to balance headlines from omicron and the fed. >> that's right. busy and uncertain we're 30 minutes into the trading session. here are three movers we are watching this morning. rivian is higher things morning on a slew of initiations the street positive on the stock overall. deutsche bank, webb busch, piper sandler and rbc all calling it a buy. morgan stanley's adam jonas says it's, quote, the one that can challenge tesla. you can see those shares are up almost 1% right now. another ev name, lucid motors plunging after the sec subpoenaed the company for documents related to its spac merger with churchhill capital those shares down about 13.5% right now. finally, check out bitcoin that's trading below $50,000 after falling as much as 17% over the weekend we're going to get into that a lot more a little bit later on in the show, mike. >> all right dp

ale david faber with morgan brennan live from post nine at the new york stock exchange.hour, we are down on all of the major averages. >> we're 30 minutes into the trading session so here are three movers that we are watching this monday morning we're going to start with pfizer, with a new israeli study showing that its booster shot provides strong protection against the omicron variant separately the company announcing a deal to acquire arena pharmaceuticals for $100 per share in cash or $6.7 billion the shares are jumping 4% for pfizer plus, peloton, pedalling higher after a ad over the weekend featuring chris noh after his character's death in the "sex and the city" reboot, following a ride on a peloton bike that includes ryan reynolds, the commercial you can see the shares are up about 5.5% it will be interesting to see what marketing spend on that commercial was harley-davidson, the shares are revving higher after the motorcycle maker announced it's taking its ev division public via spac we'll discuss that exclusively with the ceo in just a few short minutes. david,

morgan brennan has the morning off.rns to a third day and we look for some more tools in the toolkit to fight covid. >> that's right. merry christmas eve eve. we're about 30 minutes into the trading session. here are three movers we're watching today starting with nicola, shares getting a boost after saying it completed delivery of the first electric vehicle and more were on the way. the stock still down more than 30% year to date >>> jd.com shares sliding on news that china based social media company ten cent would distribute its stake to shareholders in the form of a $16 billion dividend las vegas sands with company operating shares in macau rising following the end of a 45-day public gaming result that might hurt industry profits. >> thanks. another name we're watching this morning is merck with the fda authorizing its covid-19 oral antiviral pill meg tirrell has the latest, they're both approved, pfizer and merck. >> we saw the second clearance just in the last real hour from the fda for merck and ridgeback's molnup

i'm here with david faber and morgan brennan this may look familiar because of the omicron spread, we're on separate desks, we're trying to be safe. cramer has the day off our road map begins with poised more losses. >> plus shares of ev maker rivian are tumbling. the company did cut expectation due, in part, to supply chain issues. >> speaking of supply chain, p fedex getting a boost. we'll dig into the results, carl >>> i was thinking earlier in the week, the front page of "the daily news" here in new york city was, here we go again, and it sort of feels like that we talk about protocol changing and sometimes it happens at your own place of work. >> it does it's not something we're unfamiliar with. the thing is spreading quickly the questions sisters i, and we have so many, in terms of how it potentially moves very quickly, and infects a lot of people, what will truly be hospitalization rate we have heard anecdotally that the omicron variant is milder. we know people with full vaccination, three shots likely to have very few serious symptoms, and certainly not end up in the hospital, b

on carl quintanilla with kayla tausche and scott wapner david faber and morgan brennan have the morning off s&p all-time high today on this final trading week of the year as the bullish narrative from some strong holiday sales overshadows the omicron worries and the space of cancellations in travel. kayla? >> we're 30 minutes into the trading session now, carl. three big movers we are watching this morning airlines under pressure after more than 1500 u.s. flights were canceled over christmas weekend with more delays expected this week united, delta, american, and jetblue citing a surge in covid cases among flight crews and operation staff. you see those stocks down nearly 2% or more than 2% at this hour. cruise liners giving back games after a third florida-based ship had passengers test positive for covid-19 over the weekend and those stocks down in the 3 and 4% range finally keep an eye on oil, volatile as all these travel headlines continue to impact demand expectations into the new year wti down about a fraction of 1%. it is giving back some of its losses from earlier today off the

. >> ping-pong session i'm morgan brennan in for sarah brennan. tech under serious pressure and adobe and chip stocks seeing biggest declines and mega tech apple and tesla falling as well and investors trying to make sense of the fed's latest guidance including a more aggressive taper and rate hike signals for next year and bank of england anonounced a hike thi morning. and housing starts showed a big beat got 59 minutes left to go in the session. will >> coming up on the show today, a pair of key earnings hitting off the "close." the first report since going public and hear from fedex, significantly undertomorrowed this year. the president of fedex joins us to break down the quarter ahead of this call with alice. focus first of all on the big stories. >> dom chu has a report what's pushing the market lower breaking down the market action and meg tirrell latest on covid and omicron front. dom, start with weakness in tech >> playing out morgan will lrd what's happening in the nasdaq composite specifically intraday basis down 414 points, right about

i'm carl quintanilla with morgan brennan live at post nine of the new york stock exchange.. nice gains at the open eroding slowly s&p almost back to the flat line of 4711 as the premarket suggested we might get close to some all-time highs. >> that's right. we're 30 minutes into the trading session so here are three big movers that we're watching this morning. we're going to start with adobe the shares getting crushed out with results before the bell the company offering fiscal 2022 guidance below estimates the shares are down about 8% right now. plus, lennar moving lower with the home builder reporting earnings short of forecasts due to higher lumber costs and increased labor costs. those shares down 3.5% we will end with consulting firm accenture, the shares surging after topping earnings and revenue estimates for the quarter, the stock is up about almost 9% right now. it's up more than 50%, about 56% year to date, carl. >> all right let's turn to the fed this morning announcing of course it will aggressively dial back its bond buying, seeing three rate hikes next year. o

i'm carl quintanilla with morgan brennan and david faber live at post nine of the new york stock exchangeree-day rally of the past few days all sectors red except for health care, claims good and waiting for cpi tomorrow wholesale trade out a few moments ago. rick santelli has got it >> yes post sale inventory, october final up 2.3%. replacing the mid month read at 2.2. this is notable because in the entire 29 years since the inception of this number series it's never had a larger month over month change than up 2.2, stands at up 2.3%p we know about supply chain worries but if you don't have anything to sell, sales don't go up. double plus the expectations up 2.2%. that's over double the 1% we were expecting and a large revision to september from 1.1 to 1.7 this, indeed, is very good news to see those numbers kick in and, by the way, if you were paying attention earlier, initial jobless claims, 184,000, was a 52-year low, yes, 52 years, back to 1969 and the beatles. morgan, back to you. >> between the reference and the fact that we're getting good news i'll take it, rick santelli we're 30

i'm here with david faber and morgan brennan this may look familiar because of the omicron spread, we're