seema mody is back with that. >> mike, looking at several stocks that could be impacted by the ongoingt to mention the labor market. we'll bring you those names in a moment. >>> 17 minutes until the closing bell. the s&p trying to hold on to a quarter percent gain. let's get back to seema mody for the key stocks to watch. >> let's look at carmax higher as wedbush upgrades the stock to outperform with improving profitability. analysts say tight inventories and a prolonged strike from the uaw could support demand and pricing in the used car market. that comes ahead of carmax's earnings report on thursday. >>> movie theater stocks are higher as the writers guild strikes a tentative agreement with the major studios. amc's ceo said on x, formerly known as twitter, that the world's movie theaters can celebrate the good news as attention returns to the screens actors guild. shares of amc and cinemark are higher. thank you very much. >>> last chance to weigh in on our question of the day. we asked where do you see opportunity right now. stocks, bonds, commodities or cash? head to @cnbcclosingb

seema mody. >>> smurfit and westrock combining. the combined company shares will trade in both london and new york. smurfit falling about 10% in london on concerns over valuation, while restrock is up around 3% at this hour. gains on a number of banks including zions bancorp., after dimond said he would not be a big buyer of bank stocks. he was cautious on the outlook for this economy. >> he was. even though he wouldn't have been a one-day, you know, flipper of those stocks, he could have had a good one. thanks very much. >>> we're just getting started. up next, we're headed out west where scott wapner caught up with jeff gunglach. highlights from that conversation and instant expert reaction after this break. s&p and the nasdaq are trading at session lows. (fan #1) there ya go! that's what i'm talkin' about! (josh allen) is this your plan to watch the game today? (hero fan) uh, yea. i have to watch my neighbors' nfl sunday ticket. (josh allen) it's not your best plan. but you know what is? myplan from verizon. switch now and they'

i'm seema mody in for holfrank hol holland. let's kickoff the day. we are looking at stocks indicated higher in had pre-market trade with the dow up 30 points. nasdaq up 35. s&p indicated opening by 8 points. let's see what is happening in the bond market which reacted to the hotter than expected cpi read yesterday with the 10-year treasury at 4.26%. the 2-year treasury at 4.9. in the energy world, oil has been trading at the highest level since november of 2022. we are seeing gains once again this morning. wti at 89.29%. brent crude above $90 a barrel. >>> turning to the top story. a.r.m. holding at the top of the expected range with trading set to begin on the nasdaq today. tech reporter arjun kharpal is here now with what we can expect and how big of a deal this is in the uk. >> seema, a.r.m. is pricing $51 a share at the top of the range giving it a valuation of $54.5 billion. a.r.m. raising $5 billion here and it will trade on the nasdaq under the ticker of a-r-m. the option of underwriters to offer 40 million shares. it comes at an interesting

seema mody has a deeper look at where we stand on travel inflation, seema, which has been a big part problem around services. >> it certainly has, sarah. the august inflation report showing a 5% increase in airfare and a 13% drop from last year. travel from hopper anticipating airfares to drop around 30% this fall from the summer peak, with domestic airfare averaging $211 round-trip down from $298. and international rates are expected to fall. round-trip from the u.s. to paris, london, and tokyo showing right now down 25 to 40% in september and october, often called the shoulder season, as the industry ramps up capacity and also deals with a consumer that is becoming a bit more cost conscious. now, the cpi report also revealing lodging rates declined in august, although up year over year by 3%, led by big cities like new york, boston, and chicago as conference season picks back up. the analysts say the broader volatility in pricing just suggests that travel executives are still trying to find that balance of accommodating strong demand amid a less-certain economic backdrop. and while

seema mody on carnival's quarter to sell off cruise stocks.t of here. >> a rough month. it felt worse than the actual headline loss on the index, like 4.5. for the third quarter, we're looking at basically 3.5% down on the s&p. you had down, up, down was the pattern. i do think that you paid a certain price here after a very exuberant july. i think the big question is it enough pain before you can essentially give way to a little bit more relief. i don't think you necessarily have to make too big a leap to say we aren't far away from that. everybody knows the market did get a little bit washed out. i just worry a little bit too much that everyone is looking at the same indicators that say we have -- we come to the end of september, seasonality turns better, like it is a free lunch and automatic. the seasonal stuff worked perfectly to date. may be too neat and tidy for it to pick up. >> the prevailing thought is that earnings are going to be pretty good for this quarter. >> the way i think about it is the ability for investors to turn their foc

let's bring in seema mody with more details. >> john deere laying off 225 production employees at itsin illinois. employees were made aware by leadership yesterday at the factory where combines and other crop producing equipment is manufactured. in total, that plant employs about 2300 staff, so 225 employees being cut may not seem like a lot, but wall street analysts say it does feed into this idea that demand is slowing and that agricultural commodity demand is peaking. seeing coin and soybean prices move lower today and deere stock, yes, down today and down about 5.5% this week. we were just looking at the chart now trading at its lowest level since late august. >> and it is noteworthy what is happening with some of the soft commodities. we saw huge upward pressure after the war in ukraine just with all the global stimulus the last couple years. are we unwinding that now? >> i think it has to do with china. the idea that demand is weakening and how that plays in to china playing a role in imports and exports. they are a big buyer of ouromco. >> a great point. crude oil keeps moving

and seema mody looking ahead to fiber security company zscaler, those earnings in "overtime" today. >ks up versus 389 down. faang plus up 1%, but the small cap russell 2000 down more than 2%. >> yep, it's very up balanced, and it really is -- some of the cyclical parts of the market, not on the nasdaq, really more new york stock exchange that are showing some wear and tear. it feels like there's a sensitivity to this moving yields, 4.25 on the ten-year, which is i think just adding to this sense out there that, yes, this was a pretty down the middle reassuring jobs report on friday, but still leaves us open to this idea that we're going to have some more rate sensitivity in the economy. i don't think it's -- you know, it's not game changing. it's just around the edges. those were the outperforming areas of the market, consumer cyclicals. homebuilders getting smoked today. it's hard not to feel as if there's been a little bit of crowding in some of those areas, industrials are a pretty consensus favorite as well as homebuilders. we'll see if it's just a brief shakeout of the first part

seema mody is here.he impact a shutdown would have not just on federal employees but americans overall. >> this just adds to the pain. what we know is that federal workers deemed nonessential would be furloughed. the impact on the employmen story here in america, that will be key. it affects the military contractors hired by the federal government would be at risk of not getting paid, and dep on the length of the shutdown, millions of americans may also lose certain benefits, including section 8 housing vouchers, veterans benefits and loans secured by small businesses. overall, ey expects the shutdown to shave 1/10 of a percentage of gdp on a weekly basis. the exact impact on growth depends on how long the shutdown progresses. if a deal is not reached by saturday, the travel industry bracing for cancellations and flight delays as air traffic controllers and tsa agents would not be paid until the shut down ended. earlier this week in a press conference, transportation secretary pete buttigieg calling it a

with us now to talk about this is cnbc's seema mody. good morning. so what else did we learn from this report? >> the takeaway is this is a resilient jobs market with 187,000 jobs added in the month. yes there are some cracks that are emerging with the higher than expected unemployment rate, which did rise because there are just simply more americans who are starting to look for a job in the month of august. in fact, the most since january. wage growth also slowed as it the average hourly pay raises. these are seen as inflation indicators. so far they're pointing in the right direction. now, as to where we saw the biggest gains in jobs, healthcare, construction, and still hospitality with bars and restaurants. >> and, seema, the fed is keeping a close eye on this week's data. what does it suggest for what they may do regarding interest rates. >> great question. overall the report is being seen by economists as the perfect balance of adding jobs while also seeing the unemployment rate rise, which does give us the federal reserve justification that hig

marriott's ceo tony capuano joins us, and seema mody who follows this beat for us as well. >> thank you lunch." >> hi, seema. night to be back. >> you had your analyst day today, and revealed some bullish three-year targets, including expansion of 270,000 rooms over the next three years. is that irrespective of where interest rates land? >> i think so. there is certainly some challenges for new construction, particularly here at home as well as in europe, but we've got a couple hundred thousand rooms under construction in the pipeline today, which should get delivered during the period we presented. during the second quarter, we talked about 6.4 to 6.7% under growth for 2023, and we reaffirmed those numbers today. when we wake up on january 1st of '24, we will have already delivered the first hundred thousand of those rooms that make up that three-year development plan. >> overall the response has been pretty positive, but there certainly has been active debate around the health of the consumers as we see credit card dlin waneses rise, gas prices moving higher. what are you seeing, tony

seema mody is with us. and kristina partsinevelos on the sell-off in chip stocks. lyst watch on meta. seema, start with you. tough week for deere. what's the street saying about this one? >> we have a downgrade, mike, and a price cut to the 400 from 530. analysts focusing on new data showing a slight drop in agriculture equipment sales. inten inventory building. crops weaken. differentiates john deere from competitors like adco, robust pipeline including drones and artificial intelligence embedded in commequipment using less fertilizer making farmer more efficient. spoke to deere's cto a couple months ago. he said at the time recession or not, deere will continue to spend on research and development. total budget roughly $2 billion this year up from last year. pressure growing on getting that equipment to the field especially given what we see in the stock. >> yeah. seema, it's always a tough call when you see a stock like deere. cyclical on some level and maybe have to wait through a downturn. looks also kind of cheap. looking at valuation. lower end of its ten-yea

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our seema mody at post 9 with a look at that. good morning. >> good morning. ongoing issues in china leading to this reshoring boom we're seeing in mexico. it's finally showing up in the data. it's being led by the automotive industry. tesla setting up a $15 billion giga attacker to. general motors, ford. comments with heavy-duty trucks. more capital flowing into mexico is fueling cross-border shipments, freight transportation company rxo says volumes have grown about 30% year over year. one of the benefits of doing business there is lower costs. manufacturing labor is cheaper in china and it's been that way for more than eight years. mexico's government has also been pitching companies on a new corridor that would rival the panama canal, seen asone way to accelerate trade with the u.s. and bring more business to southern states. crime, specifically cargo theft, remains a key risk for foreign companies. experts also point to the country's political back drop with a presidential election coming up next year. so far that's not impacting market sentiment. the etf

. >>> sticking with the inflation theme, seema mody joins us with a look at the travel numbers insides morning's report as well. what did we learn? >> air fares bouncing back by 5% in the month of august as energy prices continue to climb. plus data showing a record number of americans planning to travel nooverseas in the next s months. however, air fares are expected to drop this month. average round trip ticket to tokyo and paris dropping significantly. for hotels, average daily rates will rise in the near future as conference season picks up led by the big cities, new york, where rates have already increased by 10% year-over-year. that's one of the reasons, guys, analysts say hotel stocks continue to outperform air lines in 2023. >> and where do you think the trend broadly speaking goes from here? as we kind of sus out which way inflation pressures are pointing in the next six to 12 months? >> experts have been flip-flopping over the narrative as to what the next three to six months really look like. i think the pivotal moment will be this holiday season and if gas prices continue

seema mody has more on that and job cuts as well. >> like apple and nvidia, john deere faces a similar issue in that it's had such a strong growth story for so long. the minute the market picks up on some type of softness, it's being met with a strong reaction. two major downgrades. the latest reports on large combine and agriculture tractor sales show sales are down, but just slightly over the past month and over the past year. there's also data that shows what demand looks like across the world right now. some softness in key market like brazil, germany where we see a deceleration. interestingly enough, the u.s. market is holding up pretty well despite the sharp drawback we've seen in agriculture commodity prices like corn, soybean and wheat. even despite the continuation of the russia/ukraine war are down significantly. >> how much of an interplay do those prices have with the appetite to purchase for farm equipment? is it as directly as correlated as one might think? >> there's a strong correlation between price of crops and farmer income. if they feel good about prices moving high

let's get over to seema mody. >> here is an update.food workers in california are getting a raise. governor newsom signed a new law guaranteeing $20 an hour when it takes effect april 1. according to the university of california it will be among the highest minimum wages in america. >>> the pentagon awarded spacex the first contract for the starshield network the company is developing, a military version of the starlink satellite internet service. a spokesperson for the u.s.-based service confirming spacex was given a one-year contract earlier this month. >>> a 16-year-old boy arrested today for deliberately cutting down an iconic british tree. authorities say the tree at sycamore gap which you might recognize from the 1991 kevin costner hit film "robin hood: prince of thieves" was destroyed overnight. it has been a prominent feature n for the past 200 years along hadrian's wall. >> thank you for that update. >>> next on our powerhouse road trip. yes, there's the rv. yesterday we got the low down on the dallas market. today we are head

cnbc's seema mody joins me for cnbc on msnbc. "variety" television editor, good to have both of you. what do we know about the cost of the strike on the economy, and frankly, it seems to have brought about a ground swell of support for the labor movement right now. >> it's a great point, chris, the hollywood strike did take a toll on california's economy. estimates ranging from 3 to $5 billion. if this agreement is finalized, economists will be looking to see how quickly the media industry can get back into production and get workers to return. many who may have opted for part-time jobs or left the state. there could be a lag effect. roughly 700,000 people are employed in california by the entertainment industry, close to 5% of the total work force, followed by new york where the film and tv industry employs about 185,000. that's, i believe, about 6.5% of the city's gross domestic product, so no doubt the strike has had an impact. now we await the finalization of the deal and production to restart. of course it comes at a time wh

seema modi has more. this is a kind of game changer, isn't it? >> it a game changer.r hilton, they see it as imperative to driving bookings, adding these electric charging stations to their properties will also come in the face of the hotel industry really facing growing customer frustration. in total an additional 20,000 wall connectors will be installed across 2,000 hotels. they can be used by any u.s. made electric vehicle, and hilton says these stations will drive or play a role in driving sales as sales at electric car adoption is set to increase steadily over the coming year. >> no doubt it was a limiting factor to not have charging capabilities, so we think this will essentially surmount that limitation and allow any traveler, business or leisure, to take advantage of this charging capability now. the more ubiquitous we can have the charging capability, the more inclined travelers will be to stay with us. >> ev charging is a top search inquiry on hilton.com, often playing a role in converting search to stays and the rollout comes as business travel season kicks

. >> seema mody from cnbc. thank you so much, it's good to have you on the show. that's going to do it for the show this hour. join us for "chris jansing reports" every weekday from 1:00 to 3:00. our coverage continues with "katy tur reports" right now. >>> good to be with you. i'm katy tur. the government shuts down in less than three days, and right now in the house of representatives, there's a flurry of action. we're going on hour five of heated debate with long, fiery speeches telling the american public that their country is at sake. they're not talking about the budget or the millions of americans who will lose paychecks in a government shutdown, including members of the military and air traffic controllers and tsa workers. instead, the house gop is focused on hunter biden, spending this entire thursday morning and afternoon, again, just two days before the government shuts down on saturday to open their impeachment inquiry into his dad, the president. they're looking into hunter biden as well. we ask, is this time well spent. joining us now capitol hill co