royal caribbean up more than 20%. the company delivering an earnings beat with the industry getting closer to being whole again. let's talk travel and the state of the economy right now seema mody joining us with the ceo of royal caribbean, who's got a water slide behind him, our parents on an rcl boat right now. i don't know if that's it, but seema, take it away. >> thank you for joining us on board the beyond in fort lauderdale, it's great to see you. >> great to see you as well, seema. >> let's talk bookings clearly bookings have accelerated since labor day as those covid restrictions were removed in early september what are you seeing right now? tell us what the fourth quarter looks like. >> we currently have 150,000 guests sailing with us as i speak right now, and we're seeing two really strong things, one, acceleration in the booking environment, our guests are paying more than they paid in 2019, to sail with our brands, which is very exciting, and also on the on-board spend, they're continue to go spend more mo

plus the ceo of royal caribbean talks travel danafemd ter covid.et decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity. >>> welcome back to "squawk box. our next guest says that the fall of the crypto exchange ftx is one example why his agency needs more power to oversee trading. joining us now is rostin behnam. we're grateful to have you here, especially during this sort of slew of headlines as we make sense of the ftx fallout let's start with this, do you think -- do you think that regulation unto itself could have prevented this? because it appears that there's multiple issues here there's a custody issue, potentially, mixing of customer money, but there's also potentially even just valuation issues in terms of what they actually had -- what their balance sheet really was. >> so, you know, if you think about it, a lot

talk about cruising, disney cruise lines and royal caribbean just updated their covid rules. finally getting rid of testing? what do you say? >> no more preboarding testing and no vaccine requirements and imagine that back to normal, one however if you're take ago royal caribbean cruise and are unvaccinated, you do have a test negative before sailing. one caveat. this is basically the same thing as usual. about time. ashley: we'll have to wait and see. lauren, thank you take a look at 30 dow stocks just to get a sense of where the markets are. they've been down and down and the dow was off more than 300 points. now we have a few green names on the dow 30, boeing, caterpillar, honeywell leading the pack on the bottom and we have visa, home depot and apple as you can see. apple trailing on the dow 30. the market overall and dow down 128 points. all right, a former hedge fund -- former hedge funder making costume suits for some of the biggest names in nfl. we'll tell you how our next guest made the leap from football to fame next. ♪ first psoriasis, then psoriatic arthritis. eve

royal caribbean ceo jason liberty will join us tomorrow exclusively right here on "the exchange". >>ip, it's their third cruise in the last year and a half i asked them if the ship was fullle and my dad thought the ship was not fully booked. they were only booking half the rooms or something or cabins on the boat he wasn't sure about that. when you say 94% full, are they 94% full or 94% on like half the rooms? >> it really depends on the cruise line and on the specific ships. some ships are allowing everyone back on board. they're saying, you know what, covid restrictions are out, the cdc is giving us the all clear, bringing everyone back on board. some luxury cruise lines are saying, let's slow down the number of people we let back on the ship because we know a lot of customers, specifically 65 and older, want a bit more room, a bit more space it really depends on the cruise line. >> expedia, what are we expecting? >> expedia, they strike a similar optimistic down that booking holdings did expedia, we'll have to see what they say seema, appreciate it very much. >>> that does it for

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are they good buys >> stifel has a buy on royal caribbean.seem to be more bullish on norwegian, which has the pulse on the luxury traveler less positive on carnival, i would say, of those we track on wall street. >> mike, what do you think about valuations here, and just what is being factored in, as far as return to any type of normal cruising environment >> generally pretty badly impaired balance sheets. obviously they are the kinds of stocks that were so at the epicenter of the covid crash and the pandemic period. just as a general principle, those are not areas of the market that tend to get toward recovery very quickly. if you look at the declines from the highs, it's pretty severe. they're obviously in a mode of trying to preserve whatever revenue growth they can. just really to keep things from worsening on the balance sheets. it obviously differs from character to character, but i don't think this is necessarily an area that is too tightly tied to the overall part of the economy because of what happened to the balance sheets in the la

investors continue to bet on a recovery double digit gains for carnival jumping 29% and royal caribbeanand norwegian up 48%. turning to the bond market you could argue one reason stocks have done well is yields have come down the 10-year treasury below 4%. yielding 3.98. let's hit asia significant moves there. hong kong closing higher on social media reports that beijing is getting lenient on the lockdowns. it is speculation right now, but tech stocks are up 7%. tencent up 11% baidu up 7.5%. talk of reopening in china as you look at the moves in european luxury makers hermes up 3.6% kering is up 4.5 lvmh is also higher. >>> let's get a check of the morning's top stories with silvana henao. good morning >> seema, good morning president biden is threatening to pursue higher taxes on oil company profits if industry leaders don't reduce gas prices. speaking at the white house yesterday, the president continued the criticism that oil companies have made record high profits as consumers struggle. any new proposed taxes could face opposition in congress especially if republicans expand control

would you pick royal caribbean or norwegian? >> i'm a norwegian fan. carnival is not in as good of shape and does tend to bring down the industry which is why norwegian was down today. i do like norwegian cruises. i am begging the fed to look at what's happening at large individual companies. to see if they only focus on the rack -- i think they will do a lot more damage than necessary by raising rates too fast. tonight we have patrick doyle who has been tapped for the restaurant brand international. i'm learning more about his company with the man himself. you called in and stumped me on a few stocks. and yes, what does this quarter tell us about the tech hardware space. i'll be discussing it with the ceo. so stay with kramer. with my hectic life you'd think retirement would be the last thing on my mind. thankfully, voya provides comprehensive solutions and shows me how to get the most out of my workplace benefits. voya helps me feel like i've got it all under control. voya. well planned. well invested. well protected. - oh, the stock market is doing

sirens of further reopening of economy next year and moving past covid past policies carnival, royal caribbean planning delay of plans to go to china due to uncertainty around this specific policy infrastructure represented, caterpillar and general electric, optimistic reiterating the companies being grown there. >> seema mody, thank you. >>> talk about oil and geopolitics. growing concern that a full china economic restart along with the december 5th eu sanctions that kick in could send crude oil surging listen to what jej curry of goldman sachs head of global commodities research had to say. >> the physical goods root of the inflation very beginning >> when we think about the outlook for physical goods it starts to get really bullish over the course of the next 6 to 12 months. primarily because you get china back in the picture. >> all right bring in global head of commodity strategy at rbc capital markets and a cnbc contributor. probably know jeff but a competitor as well you don't have to agree with him one bit, but do you? >> i actually like him a lot exceptional. >> here we go, i would s

lauren: credits we says we prefer royal caribbean, norwegian costs are not going down in a meaningful way so they doubled downgraded them, slap them with a $14 price target down from 20. stuart: thank goodness you and i are not running a cruise line. i would not do very well. speaker pelosi getting ready to announce her future plans after democrats lost their majority in the house. realty step aside and let a new generation takeover? democrats push people to start voting a month before election day. deroy murdoch says early voting violates the constitution 80 wants to get rid of it entirely. donald trump is an ardent critic of the governor of georgia brian kemp. now the two are throwing their support behind herschel walker as he heads towards runoff against incumbent rafael warnock. the latest on that from atlanta next. ♪ ♪ the all-electric 2023 chevy bolt euv. 247 miles of range on a full charge. america's most affordable ev. evs for everyone, everywhere. chevrolet. first psoriasis, then psoriatic arthritis. even walking was tough. i had to do something. i started cosentyx®. cosentyx

will launch a sale of $1 billion in convertible notes that are due in 2027 shares of rivals, royal caribbean also falling on that news carnival sres wnhado 11%, 12% premarket. "worldwide exchange" is back after this trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities. while an earnings tool helps you plan your trades and stay on top of the market. what if you were a global energy company? with operations in scotland, technologists in india, and customers all on different systems. you need to pull it together. so you call in ibm and red hat to create an open hybrid cloud platform. now data is available anywhere, securely. and your digital transformation is helping find new ways to unlock energy around the world. ♪♪ for skin as alive as you are... don't settle for silver. harness the power of 7 moisturizers & 3 vitamins to smooth, heal, and moistur

starting with royal caribbean. lauren: they're down. carnival is too.cruise lines, ashley, are bringing back masks on some sailing out of australia and new zealand. i know. we're so past that, right? i think if you told most people, they would cry. and i doubt they're going to want to take a cruise knowing that some sailings you're going to have to mask up all over again. let's look at tesla once again. you were talking about this, i want to talk about the recall angle. there's been 19 tesla recalls this year, the latest over taillight issues, one last week over the deployment if of the airbags. look, they're fixed via software patches, but previously it was the very rare to hear about a tesla recall. and finally somed good news, diss disney supporting the dow, up 7%. investors are cheering the bombshell news that the the iconic bob iger is returning as ceo. bob chapek is out immediately. he just resigned his contract which makes it even more amazing. and when chapek was leading this company, we saw disney's stock fall 28% in the two plus years as the d

norwegian down with it, down if 3.8%, and royal caribbean by about #.5%.uto part shares looking like a three-car pile-up at this hour down 5 is %, on pace for its large percentage decline since march of 2020. this after the company reported weaker than expected quarterly numbers and lowered its full-year guidance. rbc calling severity of the earnings misquote -- miss, quote, surprising. consumers opting for cheaper in-house brands as opposed to the more expensive national brands. craft heinz getting a lift at this hour as the packaged food giant tries to brew up some excitement for its household brands which include oscar mayer, velveeta, philadelphia cream cheese and runs lunchables. today the company's kraft peanut butter brand has launched the kraft cafe barista coffee line in canada, the first expansion ats s s s s s s l l l l l heheht yoyoyod d d d d d ctctct..... ststststststststststts a a a a a ononon..... e lelelelelelele t e t iv of pecan pie or chooseo between pecan and pumpkin, because i am doing both. of and i know you are too too. and you shou

be some downside risk given their outperformance over other cruise line operators they think royal caribbean is a better value play at this point. i'll send things back over to you. >> the old double downgrade. dom chu, thank you very much >>> all right. interest rates are on the move lately this after fed president james bullard says the s-word. no, not that word. he said seven. the fed may need to go as high as 7% to control inflation all of this, by the way, as some bond spreads post some of their biggest moves, their widest moves in 40 years. rick santelli is at the cme with more seven? bullard, how does he rank on the santelli list of who i'm listening to with the fed? >> you know what, i think he ranks, though we like to listen to jaime bullard and james bullard historically has a lot to say the real question is, if you parse all the different comments he's made over the years, how accurate has he been i'll tell you this, if you go in reverse order, he's been pretty accurate lately with regard to inflation not being transitory but many of his other comments were not as exactly spot-on.

then there's royal caribbean, investors didn't like the guidance for this quarter, and that actuallyy profit post-pandemic. that's a big deal, but the stock's down almost 6%. the cost for them to operate a cruise are still rising and still well above pre-pandemic levels. you were talking with, about marriott? well, hyatt with too, they're riding this travel rebound. stock's up almost 4%. their ceo says people are becoming certainly more deliberate about how they spend their money, but they're choosing to travel, and hybrid work is certainly helping there. cigna, health insurer, raises their profit forecast for the year, seeing growth in pharmacy revenue, and that did offset a decline in premiums, and the stock is essentially platte at 3.22 a share. ashley: wow. boeing has unveiled a pretty ambitious forecast. the stock up, well, 1.33%. what's the story? lauren: one of the few dow components that are higher today. they gave guidance for the first time since 2019, and investors loved the guidance. they say they're going to deliver 800 commercial jets by 2025. that means they're going t

and be gotten there when before i believe in phoenix, the martini can i push me about the re royal caribbean at the end of the room. the weight for the welsh team has been much longer 64 years since they lost played out the world, kept 1958 in sweden, catherine mcgary with the bail, laid them off the plane, and hopes he can guide them out of the group. sage. the 1st matches against the united states of america that was taking place on monday. they will also have to get past england and iraq so quick if the traditional market in cutters capital go off, is the perfect place for fans to immerse themselves in local culture. but i should go name when to get a taste of what they can expect. soup walketh is more than a century old. we are in the section of spices. this dried lemon wind steeped in water mixed with honey makes a very nice hot drink. garlic. d lavender pomegranate, these peppers and a popular snack food in this part of the world. sunflower seeds. during the rise of the shopping mall, countries lost interest in the soup. in 2003. a fire destroyed much of it. so in 2004, the government

for example, royal caribbean is having a nice day. so earnings still matter it's not all green, necessarily, though lyft shares are having a terrible day they're down rather dramatically there was, you know, signs of bigger competition there from uber, stolen growth. there was a whole bunch of analysts i lost track of them, at least a dozen analyst who is slashed their price targets by a very, very large amount after that came out you see lyft down about 20%. overall, brian, three-to-one, advancing to declining stocks, three days in a row of green back to you. >> bob, thank you very much. so, of course, the markets and america are keeping a close eye on the midterm results especially in a handful of key states and even some key counties that all might determine control of the senate. ylan mui is here with us on set with what specifically to watch for as we head to the polls. ylan >> voters are casting their ballots today, but some of the most critical races are so close, we may not noknow the winners for several days or even weeks. ta

about pricing power, do hotels have more going into next year versus vacation rental companies royal caribbeanrly profit since the pandemic booking volumes in the third quarter. it did lay out some ambitious 2025 goals stock is up about 1% what does this all mean for the xly etf? it's down 0.3%, so holding out better than the broader market >> seema, thanks for that. busy day for you. >>> still to come, we'll check in with popeye's and burger king parent, restaurant brands. first, watching moderna. quarterly profit coming in below expectations cuts its annual forecast for sales of the covid-19 vaccine. w dn emket. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. so if you're on medicare, or soon to be, consider this. an aarp medicare supplement insurance p

for a second your footprint in china, glenn, are you re-evaluating that i talked to the ceo of royal caribbean're exiting china. yet, general electric ceo larry culp telling me they're there, going to continue to invest in that country. >> there are a couple things to think about that one, we all know there isn't a lot of outbound travel from china right now which is really what our strong suit was before the pandemic that's not happening because of the covid restrictions in china right now. we recognize that in the long run china is going to be a major part of the global travel economy. if you want to have any part of the global economy, you have to think do i want to be in that biggest part we have operations there we're not doing a lot of business right now, but we think that's a great opportunity for the long run so we're going to keep looking at it that way. >> we're waiting for the rebound. glenn fogel, ceo of booking holdings, thanks. >> thank you. >> seema, our thanks to you. >>> a news update with our frank holland. >> here is what's happening at this hour. dr. mehmet oz has conceded

royal caribbean is offering bahamas sailing four nights for $47 per person per night and carnival isng vacation packages where airfare and hotels are all bundled together. you can book that directly through the airlines or you can use websites like groupon, expedia, hopper. check out this one that we found. this is a seven-day greek island vacation with airfare and hotels included for under a thousand bucks. you can choose from several different islands. but as always, make sure you read that fine print that can get a little sneaky there, guys. >> oh, that fine print. >> there's got to be some fine print on that one. >> i'm sure there's some fine print. thank you, gio. >>> coming up later, breaking down a new study on salt and your heart health. >>> but up next, who had the shot of the night? the laker player or the laker fan? it's our "play of the day." ♪ this holiday get the same incredible feast for the same incredible low price as last year. from those tasty side dishes to the most delicious main courses, you can get it all without spending too much. get an entire holiday meal th

when you think about the last tour they did to the caribbean, which wasn't given success, expected to be success, we expected it to be and isn't quite a royalnt tour. it's still an important visit. think you're going to visit. i think you're going to see quite see things done quite differently think differently on this. i think it's feel fresh and it's going to feel fresh and modern, i think they're modern, and i think they're going in way that going to engage in a way that you haven't seen them do. i really hope so. i really hope that this new era, the new that in this new era, the new prince, princess wales, will prince, princess of wales, will put forward that dignified ambassador stay ambassador a real more all stay view the royal family and view of the royal family and this tittle this kind of show biz tittle tattle to of start to tattle have to sort of start to vanish away. they're just they literally told the words, we don't distractions. and literally told the words, we dthink distractions. and literally told the words, we dthink you're distractions. and literally told the words, we dthink you're right. actions. and literally told t