once they get past the impact of the strike, then they will start working on that. >> phil lebeau saying production today. gradual increase. >> reporter: tomorrow, frank. >> tomorrow. i know you will be on top of this story. look at boeing shares up 2%. phil, thank you very much. >>> time tfor a check of u.s. stock futures. in the green across the board. s&p up fractionally. the dow opening up 50 points higher. the nasdaq is the best performer up .13. we look at the biggest gainers on the nasdaq 100. dollar tree at the top. shares up over 3.5%. followed by pdd holdings. this is a chinese tech company. shifting as tesla is taking the number two spot. arm holdings and vertex rounding out the top five. the investors in europe are watching other developments here in the u.s. for their inn vvest investments. in the green across the board over in europe. the ftse 100 right now is the best performer up .25%. we want to check this on the bond market. the ten-year yield at 4.3. the two-year at 4.17. let's do a quick check of oil. oil moving higher. wti above $70 a barrel. similar story for brent

phil, thank you, phil lebeau.e more than a minute here before this bell is going to ring. what do we have now really between nvidia today. there's not a whole heck of a lot to drive this market, other than anticipation of next year and a new administration. >> it's the eye of the beholder in whatever tea leaves you see revealed about maybe the policy stuff, whether the individual moves have to correct a little bit and the immediate reaction. i think it's interesting today that the indexes did get back into control of some of the megacaps. so they, again, acting somewhat like defense, somewhat like the neglected group. that's more like microsoft and amazon. it's not nvidia today. because the overall semigroup continues, really, to struggle here. so i don't think there's a lot that we're going to be talking about headline to headline. macro is set. you know, i mean, today's cpi, even though it wasn't great, as a benign surprise, it was enough that we think we know, we get another quarter point, and then take it from

that's our phil lebeau.viously we're going to have a nice day here the first of november for trading, but we've softened a little bit into the close. i notice that some of the megacap stocks that were higher today have turned down. >> yeah. i think the key story here is we still have a decent economy and the real story is strong earnings. that's overcoming these concerns of these election jitters we're seeing. we're 70% through. i went through them today. we have 8% growth in the s&p. the tech sector, 19% growth in the earnings. it's been going up in the last couple of weeks, not down. the fourth quarter numbers which matters are really holding up well. tech is going to be up another 15%. they're not cutting those numbers appreciably, scott. that is why the s&p is only 2%. if you want two problems, one the market's expense sieve. the bad thing about good markets is it's hard to impress people. those bond yields on a daily basis. every day we get worries about that. you don't want the bond vigilantes and a lo

joining us in a first on cnbc interview hyundai's incoming ceo jose munoz and phil lebeau. head, phil. >> thank you very much. jose, we have the iconic 9 behind us which you just unveiled. give us some perspective when how look at introducing this atta time when there is so much going on. can this sell as well as you expected in the ev tax credits on a federal level go away or are reduced? >> it's a great question. let me tell you when our company decided to make a big investment in america we did it during the previous trump administration. and actually the announcement of the location, the capacity, the total amount of investment was made before. so we didn't build the plans and products that we are producing the plan because of any tax or i.r.a. so, therefore, we still believe that the electrification is the right way to go, is the long technology that we think is going to be established. but also we see that on the way that maybe a little bit longer than we thought, we may need to develop other technologies. this is why in about a year ago we decided to announce that we

phil lebeau joins us with more on the story. hey, phil. >> reporter: hey, becky.t is one of the loans that the biden administration, when you look at future alternative source vehicles, this is one of those loans that they were looking at finalizing and they have. rivian securing a $6.6 billion loan from the department of energy. $6 billion will al located to the funding of a new plant to be built in georgia. it has been announced. in mei they said they would hold off on building it because of issues when it comes to liquidity. that georgia plant scheduled to begin production in 2028. rivian says up to 7,500 jobs by 2030. this is where they planned to build the r2, r3 models. think of these as the next generation of new vehicles. we saw it first time when they unveiled the r2, a small suv. they will build this first in central illinois and then move production to georgia. that, by the way, is expected to go on sale in 2026 with a base price estimated to be at this point they say $45,000. we will see what it actually is when the vehicle comes to market. take a look

phil lebeau has been speaking with the ceo just in the last hour. as the very latest on this quarter. phil? >> hey, melissa. we're 20 minutes into the rivian earnings call. and there are questions about what happened last quarter. as you mentioned, they missed on the top and the bottom line. here are the numbers in terms of the loss per share, as well as the revenue, coming in light of expectation. and the loss per vehicle. it widen out by almost $9,000. rj explained to us last hour what happened last quarter. >> we just made a big changeover to our second generation of our r-1 vehicle, and so, there was a lot of costs associated with changing out roughly half of the building materials, as measured by cost, and so, as we brought in new suppliers, that's expenses associated with that. we had a supply chain shortage as part of this ramp up and that really hurt us in terms of our overall output in terms of fixed costs. >> all right, so, why would the stock be up, given the fact that they also made their expected loss for the full year wider than previou

phil lebeau joins us with more. ter demand for taking a trip during november or december across the atlantic. look how many seats we will see this year. it's fractionally down a little bit compared to last year, but it's an improvement compared to where we were in 2018. 6.53 million seats. that's not u.s. carriers. that's all airlines. transatlantic seats for november and december and united among the u.s. carriers is really leading the way. its capacity this november compared to november last year up 2.5%. in december, it's going to be up 7.3%. take look at shares of united close to an all-time high, they are expecting their busiest holiday season ever. this is good news. not only for the bottom line because airfares on transatlantic routes are going to be on greater than domestic routes, but you see this across the industry. we should point out among the u.s. carrier, delta's essentially flat with where they were last year down 1.8%. you have seen a pullback in capacity from american. they had too much capacity in

boeing and the machinist union reached a contract they are urging to vote for it phil lebeau has the details. >>> next, chevron and exxon will report this morning. we have the exclusive interview with darren woods coming up. "squawk box" after this. >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. ♪♪ mom, can i help? camping was fun, but it looks like we brought the woods back with us. if you have kids, then you really need weathertech. it's the ultimate way to kid proof your vehicle. from laser-measured floorliners for the front and rear... to cargoliner... seat protector... and seat back protectors... [hose spraying] we've got you covered. your turn. [hose spraying and laughter] find these american made products at wt.com it's our son, he is always up in our business. it's the verizon 5g [hhome internet i got us.er] oh... he us

phil lebeau has the details. >> i want to show that chart again that you guys were just showing. this is what shares of tesla did today with the surge of greater than 15%. the reason i'm showing you this, shares of tesla -- i know that's their annual sales -- but shares of tesla have not been this high since 2022. elon musk and his relationship with president-elect trump is the primary reason. take a look at the post on x from elon musk last night. he is with the president as they were waiting for the returns to come in down in florida. you know what he wrote there? it's going to be so hot. when you've got the ear of the president-elect, things are certainly going to be cooking for you. if you're looking at tesla as an investment, here's the reason the stock is moving higher right now. first of all, there's the influence being limited factor. knit sa did not have a lot of influence under the first trump administration. it's going to be a similar story this time around. that impacts robotaxi development. elon musk is going to want to put these out there in development and in test

phil lebeau with the travel trade. >> europe is key to the growth that united has experienced over theter. take a look at this. these are the number of seats for all airlines, not just the u.s. air lines, but european airlines as well. we are now above the levels that we saw in terms of transatlantic seats back in 2018. yes, fractionally lower but this year over 6.5 million, and when you look at united, its capacity on transatlantic flights up 4.9% compared to last year by targeting markets like palermo, very is, nice. underserved to a certain extent. by the way, united says this will be the busiest holiday season it has ever experienced. and, really, this will be the busiest thanksgiving that we've seen in the united states ever in terms of the number of people flying. it is expected that 31 million people will be flying during thanksgiving week and that's basically november 22nd to december 2 and, by the way, we are on pace as an industry in the united states to eclipse the average daily number of passengers in 2024. that will pass what we saw last year in 2023. now there are a few a

phil lebeau. >> you bet. >>> you saw the chart with united. it basically doubled, more than doubled. >> it's like nvidia. >> it's up 150 something percent year to date. delta is behind that. to phil's point, alaska is the third place. if you're going to invest, for me it's either going to be united or delta. people are going to think united is overdone, so they will probably go to the lower tiered ones and get burned. and same way they were talking about retail. stick with the winners. >> even united though, a lot of good news is priced in already. >> you're 100% right. but i forget who, but somebody put a $150 price target on the stock. ubs just initiated $139 price target. that's a 44% upside from here. so there are a lot of people very optimistic. delta is the one though. ubs put an $88 price tag. if we could get through the sort of $65 level, $88 is probably in the cross hairs. >>> cryptocurrency recovering from yesterday's selloff. with volatility around thanksgiving, will this year keep up the holiday tradition? >>> a black friday bet on

phil lebeau joining us with more. k we can figure out the reasons why here, phil. >> well, when you are as close as elon musk has become to the president-elect, your shares of the stock of your company definitely are going to benefit. shares of tesla they're up today, 52-week tie, tickling $300 a share. three things stand out about the relation shep between elon musk and president-elect trump. first of all, is there a potential roll back in ev incentives, that would definitely hurt some of the smaller players in ev, but tesla has the size and scale to withstand that. essentially king of the hill gets a little more share. nhtsa oversight will be limited, that's the expectation, it was limited in the first trump ald strags and that means robo taxi development should accelerate. a lot of people are saying what we thought before, maybe we move that up six months, a year, as they try to roll out the next robo taxi. as you take a look at shares of tesla versus the s&p 500 we're going back to the beginning of the biden admini

we want to know what that could mean for states where americans buy a lot of evs and phil lebeau joins> we are, joe. we're out here in los angeles for the l.a. auto show, which is predominantly focused on green vehicles, electric vehicles, hybrids. this state has long been way ahead of the rest of the country in terms of ev adoption. this year, evs make up one out of every five vehicles sold in this state. take a look at what the market share is for evs, 22%. hybrids, they're coming on strong in terms of demand in california. but look at ice, now down to just 60% of the vehicle sales here in california. when you talk about evs, keep in mind that tesla has long been the dominant player out here. obviously, they made vehicles up in the silicon valley, still do, that are sold here in the state. that's a big reason for the momentum that they have here. but their sales are down more than 12% year over year, as more ev options come into the market. still, the model y remains the best-selling vehicle. not just best selling electric vehicle, best-selling vehicle by a wide gin in this state. na

. >> phil lebeau covers the industry for us.s built there is sold in the u.s. far more than ford, which is about 16% north american production out of mexico, sarah. so we watch gm, and obviously very strong performances during the course of this year is getting eaten into today. >> everybody is going to be looking at their exposures, because the threat is on china, as well. what comes from mexico, what comes from canada? here's my favorite chart of the day. it's how much of the canadian and mexican economies are shipped to the united states. in other words, how big their exports to the u.s. represent their overall economy. will you be my neighbor? no thanks is the title. mexico, we're talking about 27, 28% of its entire economy is represented in exports to the united states. so that's why the currency is selling off 1.5%. canada, 20% of their economy, exported to the united states. now, these are the other ones. they don't even come close like ireland and taiwan, all below 10% of their own economy, as far as exports. so when we

our phil lebeau has more on that. >> hey, carl, this is the bloomberg report that came out from sourceson team saying they want to make sure that under the dot and the trump administration, excuse me, that autonomous vehicle technology and the development of autonomous vehicles is a priority. so this sets up the question, what does that mean? well, it could ease federal oversight. nhtsa, they are technically in charge of federal vehicle regulations on a federal level. they would like them to be much friendlier to the idea of autonomous vehicles that would speed up the development of robo taxis in the case of tesla. remember, tesla and the cyber cab, which elon musk showed during their event in october. has no steering wheel, had no pedals. the goal here is to put this into production by 2026. though most people say, look, that would be moving it very, very quickly. 27-28 is more likely. it would have full autonomy. how is that different than what you see with teslas right now? well, remember that the current unsupervised, there is no full self-driving unsupervised. it requires driver ov

phil lebeau has the latest. >> not much reaction in shares of boeing, they're fractionally lower, i thinkrt because many people thought, eventually this strike is going to end, it's not going to go on forever. and it is in fact ending with 59% of the machinists who voted approving a four-year deal. here is the president of the machinist union talking about this strike and the implications it's had for his union. >> this is a success, this is a win. it was hard bargaining on both sides and there always is hard feelings. we'll get through it and we'll get back to building airplanes. >> all right, so what's next for boeing? production resumes tomorrow, but not everybody is going to be back at work tomorrow. gradually they'll all get back into the plant by early next week. it will be gradual ramp in production. the boeing ceo putting out a statement saying the company still has much work to do and the investors, they want to see how quickly boeing can really turn things around when it comes to free cash flow. it's not going to happen overnight. they're going to have negative free cash flow, t

negotiating on a new offer to end its seven-week-lock strike will it pass let's get to phil lebeau with third time may be the charm for boeing and the machinist leadership they're hoping this agreed upon tentative offer, this contract that the union will vote on, is enhanced enough that the rank and file will say, okay, yeah, we can go for this they have increased the raise over the next four years from 35% up to 38%. they have also enhanced the 401(k) match from the company and the signing bonus which was $7,000 is now $12,000. though you can take $5,000 and put it straight into your 401(k) they have enhanced what you can walk away once this contract is ratified up to 12,000. remember, this negotiation between the union and the company, twice, twice now, the union has said no, there is no pension in this latest offer, by the way. and when you look at the offers that have been rejected, initially in september, it was a 25% raise that was rejected. then when you talked in october, it was 35% offer raise that was then rejected. and this means for boeing if they can get this deal done, the

we get to phil lebeau to talk about it because the strike at boeing is officially over. e vote has already taken place. phil. >> andrew, this was a vote that was taking -- it took place yesterday. results announced late last night. 59% of the machinists who voted and this strike impacts about 3 32,000. those members will get a 38% raise over four years. the machinists are locked in to a 38% raise over four years. the work will resume tomorrow. i've had a few people already say to me why isn't everybody back to work tomorrow? it doesn't happen because everybody goes back in tomorrow. it will be a gradual increase in the number of people reporting all the way through early fnext week. then they will gradually increase production. they can't flip a switch and crank out planes immediately. that is by design. kelly ortberg, the ceo of bowing said, we want to do this right. he released a statement the past few months are difficult. for all of us, we are all part of the same team. we will only moving forward by listening and working together. there is much work ahead to return t