osisko development >>> my next guest says the consumer price index print helps prove the case that we are headed for an economic slowdown. jim tierney, cio of u.s. concentrated growth at alliance bernstein. great to see you welcome. >> thanks for having me, kelly >> do you think that's what the market is realizing, yay, cpi is decelerati decelerating, oh, wait, maybe into a recession kind of thing >> there's a bunch of things going on, one, nervousness about chair powell's comments tomorrow afternoon and the reality that earnings will be under pressure for the next few quarters and for most of '23, quite frankly. >> when we see earnings are under pressure for 2023, what do you think the market has priced in and what do you foresee >> the bottomings-up numbers are a little scary, 235 on the s&p 500 versus 220 this year that's a high single-digit gain, but the top-down strategists are closer to 200, which implies a decline in earnings next year. my guess is that earnings estimates are going to be revised downward when we get to fourth-quarter earnings in late january and early february

osisko development >>> still to come, an exclusive interview with southwest ceo, bob jordan that stockrst day since september as they hold their investor day what's got the market so upset "power lunch" will be right back ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. >>> it's time for our three-stock lunch and today's menu is all energy we're sipping on three bold calls starting with halliburton, which jpm says they're bullish on u.s. shale and oil markets. wells fargo naming enphase a top pick in clean energy they call its growth recession proof. and piedmont lithium cowen calling it a best idea here to help us trade all three is lee munson. lee, welcome, sir. let's kick it off with halliburton. you a buyer? >> yeah, i would be a buyer and i

osisko development >>> let's get another touch on the microsoft activision story, the ftc moving to block deal kayla is looking at it from the administration's perspective and what come next. >> they've pledged an aggressive approach in challenging deals that consolidate direct competitors and suppliers and complementary companies. these deals like microsoft's purchase of activision but courts haven't bought those arguments in recent weeks dealing the agency with setbacks with federal judges disagreeing on deals by illumina united health, sue and booz allen certainly the record in recent months does not favor the ftc or doj, even though they have told congress that improving anti-trust enforcement won't happen unless they're willing to challenge more and more deals and praised a range of outcomes as successes. >> we're pursuing robust and vigorous law enforcement to protect the public we've enjoyed significant success with at least six mergers being abandoned due to an ftc lawsuit we're committed to protecting americans wherever we saw harm and unlawful conduct. >> two cases alone caused

order the weathertech gift card instantly for the perfect gift at weathertech.com osisko developmentemier gold mining company with a goal of achieving mid-tier gold producer status with the company's advanced-stage projects located in north america, headlined by the cariboo gold project in bc and the tintic project in utah. osisko development . >>> you have to be careful with the beaten down tech and e commerce the vast majority is too risky if they have come down substantially from the highs and get a take like this morning we've learned painfully over the last 12 months they're the definition of what doesn't work when the fed is tightening so let's not fight the fed at every single point there are always exceptions. for instance, last thursday i highlighted four e commerce names. etsy, pinterest, i did that again this morning, shopify and the south american one i like so much i do believe in etsy and pinterest more than the two others all four behaved like they bottomed they're putting up solid numbers. i think they'll look a lot better in 2023 and start facing year over year compa

osisko development >>> we now have just seven trading days left before we close the books in 2022 soore we break, we're looking on the best performing stocks broken down by sector. last week, we highlighted the winners from the five strongest groups, energy, utilities, consumer staples, health care, and the endusindustrials. we're looking at the weakest sectors. last night material sector and tonight the next worst performing cohort, boy, i know you're bored down 14% like most of the sectors like i said at the top of the show, broken down by icndustry standards, it's a catch all category insurance companies a group that are phenomenon because the stock is too great to slow the economy with rising interest rates think about this, do you stop paying your premium in a recession and more important, higher rates mean insurance rates can take your premiums and invest them for risk free return higher rates are huge for their bottom line. that's why the 14 best performing fans of the s&p 500 were insurance companies then you got the banks, the capital market plays and credit card companies t

osisko development >>> today confusing decision, the world trade organization ruled tariffs our governmentted steel five years ago, the national defense base tariffs violate the treaty obligations. they don't have the power to do anything about this but it's worth making the case for the section 232 tariffs. i'm in favor of free trade as long as it's happening on an even playing field and not competing with non-market economies. unfortunately, countries like china love to subsidize their industries to drive foreign competitors out of business or worse and that's what they're trying to do with steel and it's why trump's steel tariffs made so much sense to me. all this is good news for domestic steel producers and it's not like they're engaging in any competitive behavior. they're driving lower costs and better quality look at new core, the best american steel maker and announced a bunch of factories and increasing production and hiring like mad and producing the cleanest and safest steel in the world so do not take this from me though i want to speak and you need to hear from nucor. >> appr

osisko development "puss in boots" has been nominated for best animated movie of the year. ha! ha! it takes the "shrek" franchise to exciting new places. i am on my last life. it will strike a chord with movie goers of all ages. when you only have one life, that's what makes it special. rated pg. only in theaters. >>> welcome back it's time for today's three-stock lunch. with the sell-off we're focusing on carmax whose results were hit by the used automobile market. kraft heinz is holding up, and amc entertainment, the stock plunging as they have announced a new capital raise and proposed reverse stock split. scott nations, is president and ceo of nations, it's either a tough or easy one. >> this was easy as you pointed out, they posted horrible reports they're blaming inflation -- welcome to the party, pal -- the trader in me hates that, when they're going to buy stock when it's expensive it's not too late to sell, but given that inflation is a problem, there's no reason they couldn't be down a similar amount next year every time. >> there's not that much there there. $58 a share.

osisko development at adp, we understand business today looks nothing like it did yesterday. unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪ ♪♪ for skin as alive as you are... don't settle for silver. harness the power of 7 moisturizers & 3 vitamins to smooth, heal, and moisturize your dry skin. gold bond. champion your skin. you're puss in boots? tno habla english.nd moisthabla espanol? skin. i don't speak spanish either. who is this guy? i'm puss's therapy dog. wanna rub my belly. no, hard pass. puss in boots. rated pg. >>> welcome back to "fast money. road block shares dropping nearly 16% after the company said revenue greej plunged in november boo bookings grew in the mid single-digits and they reported revenue per user falling as much as 9%. they have been two of the biggest loser in the video game fluft with more

osisko development is a premier gold mining company with a go to getrefunds.com to get started. goalachieving mid-tier gold producer status with the company's advanced-stage projects located in north america, headlined by the cariboo gold project in bc and the tintic project in utah. osisko development >>> at this point everybody recognizes the flash in the pan covid stocks, zoom, peloton, docusign, roku they rallied hard during the worst part of the pandemic then came crashing down to earth. for over a year now they've been some of the worst performers out there although hey, how about this in docusign this very evening reported a fantastic number and it's starting to look up but it is on its own in this group. but there's also another whole group of covid winners that have seen their stocks bottom in recent months and started making incredibly meaningful ral liszt and nobody's talking about them. they don't get too much attention. too much rubbernecking everyone wants to stair at the ongoing disasters. they don't want to focus on the opportunities. that's not the "mad money" way th

osisko development >>> good morning, the ftx saga continues.kman-fried facing a market manipulation inquiry. >>> disney+ debuting its new a tier today. >>> is a recession coming in 2024 we're going to try to figure out what's next for rates and the u.s. economy >>> the second hour of "squawk box" begins right now. ♪ >>> good morning welcome back to "squawk box" right here on cnbc i'm andrew ross sorkin along with becky quick and joe kernen. take a look at u.s. equity futures at this hour still have 2 1/2 hours to go nasdaq up about 26 points, 27 points and the s&p 500 looking to open about 10 points higher i see steve liesman in the shadows right here the ten-year note, that's your focus, steve he looks at the ten-year we're looking at 3.449 two-year, 4.279. show you where the energy complex sits wti crude standing at $73.38 and crypto, maybe a sign of risk on or off bitcoin now still under 17,000 we're going to talk a lot more about crypto in the next tour when kevin o'leary is going to be joining us. ether sitting at approximately $1,200 >> f

osisko development >> announcer: "the opening bell" is brought to you by nuveen. >>> let's get to madh here "opening bell" a few minutes from now apple. >> no light up to selling anything faang i don't think it's going to light up apple is about the worst chart in the book. apple is finished. i do believe apple could, as it has, pre-announce before january. can't get enough product we know it from costco they couldn't get enough product but jim suva is not deterred and he has six reasons why he thinks it's going to do well. apple doing well in indy iphone revenues will not see negative year over year beyond december new. service revenue should grow because the fx headwinds are developing, new. forget that. le that doesn't matter regulatory risk versus headline risk and then a bonus option apple car which also doesn't matter. what suva has done is say those who want to trade apple think they can get out now and get in after the announcement, that may not happen i'm only basing that on what costco said. this piece says don't give up the ship the chartists are saying, again, this is the

osisko development "puss in boots" has been nominated for best animated movie of the year. ha! ha!s the "shrek" franchise to exciting new places. i am on my last life. it will strike a chord with movie goers of all ages. when you only have one life, that's what makes it special. rated pg. only in theaters. >>> the nfl announcing a deal that was reported on yesterday by any number of news outlets including our own, signing is up youtube, alphabet's youtube for a deal for its sunday ticket roger goodell, the commissioner of the nfl saying the strategic partnership is yet another example of us looking toward the future and building the next generation of nfl fans of course, youtube is a giant in streaming. most of that content, though, created by the users themselves. in this case, they'll be paying, perhaps, carl what may be $2 billion a year for the right to air those games and obviously, apple has played in baseball we know amazon has thursday night football, and it does point to these mega tech companies getting deeply involved and bringing sports programming to their users >> sti

osisko development >>> as jim said a moment ago, market largely treating bad news as bad last coupleres trying to reverse back to the flat line coming off the worst two-day session for the dow sie tor.nc opening bell in a couple of minutes. ♪♪ we all have a purpose in life - a “why.” maybe it's perfecting that special place that you want to keep in the family... ...or passing down the family business... ...or giving back to the places that inspire you. no matter your purpose, at pnc private bank, we will work with you every step of the way to help you achieve it. so let us focus on the how. just tell us - what's your why? ♪♪ ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. >> announcer: the opening bell is brought to you by nuveen, a leader in

osisko development >>> i'm kate rooney and here's your cnbc news update.in kyiv seeking shelter in the city's subway system there were strikes in the city, 60 of which were intercepted power was knocked out in some areas. and a rocket hit an apartment building. >>> in berlin, a massive 80-foot tall aquarium burst unleashing more than 260,000 gallons of water. the resulting flood inundated the hotel and stores that share the same building. police say only two people suffered minor injuries. however, none of the 1500 tropical fish in that aquarium survived the cause of the incident still remains unclear. >>> and nasa has launched a satellite that will help scientists research the world's oceans, rivers and lakes the surface water and ocean topography satellite, also known as s.w.a.t., will precisely measure water levels across 90% of the earth's surface and help researchers track water flows around the world back to you. >>> let's get back to the broader markets. deterioration all morning following the selling we saw yesterday. down 400 on the dow. just yest

osisko development (clearing throat) what do you... got there? a hospital bill for me? mm-hmm. did. he's talking about expenses that health insurance doesn't cover. ga-a-a-ap! uh-uh. aflac! that's why there's aflac. it pays you money to help close that gap. aflac, huh? don't tell me he high stepping. af-lac, af-lac! he stole my move! get help with expenses health insurance doesn't cover at... aflac! ...dot com. >>> stocks, as you see, continuing their slide, the fed continues to raise rates, we're now at the highest level we've seen in 15 years our next guest leads ares management, operates in the private credit, private equity, real estate markets and joining us now is co-founder of ares, david kaplan good to have you, particularly on a morning like this let's start off with the underwriting process, from your perspective and decisions you make every day how has it changed, if at all, given the uncertainty you're seeing out there right now in corporate america? >> well, thanks for having me. really appreciate being here it is definitely an interesting day, an interesting morni

osisko development is a premier gold mining company with a goal of achieving mid-tier gold producer statusy's advanced-stage projects located in north america, headlined by the cariboo gold project in bc and the tintic project in utah. - life is uncertain. everyday pressures can feel overwhelming it's okay to feel stressed, anxious, worried, or frustrated. it's normal. with calhope's free and secure mental health resources, it's easy to get the help you and your loved ones need when you need it the most. call our warm line at (833) 317-4673 or live chat at calhope.org today. >>> micron set to release their earnings after the bell today, maybe offering a little insight into the dram market as th group remains on track for its worst year since 2008. kristina partsinevelos follows the group for us, she's following the money, and joins us now >> what we've seen with micron over the last little while, make you can argue that the near-term numbers have already been discounted micron has warned that they were going to cut production by 20% for their dram and nan chips and they also warned that 20

osisko development "puss in boots" has been nominated for best animated movie of the year. ha! ha!ek" franchise to exciting new places. i am on my last life. it will strike a chord with movie goers of all ages. when you only have one life, that's what makes it special. rated pg. only in theaters. power e*trade's easy-to-use tools like dynamic charting and risk-reward analysis help make trading feel effortless and its customizable scans with social sentiment help you find and unlock opportunities in the market with powerful, easy-to-use tools power e*trade makes complex trading easier react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity >>> all right. you know what that means, we are now in the "closing bell" market zone we've got cnbc senior markets commentator mike santoli here to break down these crucial moments of the trading day plus we've got steve kovach and kevin mccarthy on what to watch when nike reports earnings after the closing bell today now, stocks bouncing around, mike

osisko development >>> welcome back to "squawk box. on the general today, the ecb and bank of england expected to hike rates today both expected to hike on 50 basis points we will get retail sales at 8:30 a.m. eastern time. one thing to note. adobe will report after closing bell this morning. >>> let's get a check on the markets. this is after the fed's decision gabriela santos at jpmorgan chase asset management i want to know what you thought at 2:30 and then 3:30 after the press conference >> at 2:30, i did think it was a very hawkish statement as well as projections the statement barely changed still ongoing increases. and hawkish at 5.1% and 17 of 19 members believing that rate would be over 5% next year no rate cuts pencilled in. neutral above 2025 at 3:30, i also thought it was a hawkish meeting. i think what powell emphasized in the press conference was ambiguity about the pace of inflation coming down and ultimately what the terminal rate is and could move higher still. what was surprising is the market reaction to all of this

osisko development welcome. you've got sales! i do? i do! you've got sales! you've got sales!you've got the internet's most loved commerce platform. you've got sales! you've got sales! you've got sales! what was that? that's elwood. go to shopify.com to start your free trial today. goodbye! >>> if you are planning on traveling for the holidays, you better make sure you check your flights before you head to the airport, a powerful winter storm is wrecking havoc from the northern plains over the next few days katie, what's the scene there behind you >> reporter: good morning, becky. it's pretty much business as usual right now in washington, d.c. we're not seeing a lot of delays and cancellations just yet but we don't expect that to last as the storm makes its way and specifically into those midwest regions, the airports there are going to be at a standstill and that's going to affect the hubs like dc and atlanta as well. so we are expecting to see a lot of delays and cancellations later today and into tomorrow. also, the two busiest travel days of the holiday season, there's go

osisko development >>> welcome back to "squawk box. time for a cnbc exclusive interview.electric vehicle space, phil lebeau joins us he's got a very special guest. >> let's bring in the coo of nikola joining us this morning from germany michael, i know you've been over there, a number of truck show where is you've been able to show off the nikola tray as well as the future of nikola as you see it gives us some perspective in terms of what you think investors are looking at when they look at the electric semi market and whether or not we're going to see the level of demand that you and others believe is out there. >> yeah, good morning, phil. thanks for having me on your show first of all, lots of progress this year on the nikola side we started production of our trade in march of this year and now we're in the market. we delivered at the end of the third quarter 111 trucks and we see a lot of interest from the customers here in europe but also in north america. so i mean we own a very good part and obviously now it's all about execution, right and that's why we are very c

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osisko development is a premier gold mining company with a goal of achieving mid-tier gold mproducertus with the company's advanced-stage projects located in north america, headlined by the cariboo gold project in bc and the tintic project in utah. osisko d♪velopment ♪ a cyber-attack can grind everything to a halt. cisco security keeps your company moving forward. because if it's connected, it's protected. cisco. >>> welcome back to "squawk box. let's talk to sylvia jablonski and lisa erikson sylvia, i don't think anyone is enamored with stocks right now when we stop worrying about inflation, that means we are worrying of the rescission we are out of the frying pan into the fire. neither one is a great environment for stocks >> yeah. it is true it is hard to get excited about any kind of risk exposure and getting into stocks with the last week. we started off with good news with cpi we see inflation is falling. logic is inflation peaks and 12 months out you see s&p returns 13% up since the 1950s it seems like a good case to think about getting back into the market as you said in the