sherwin williams is all about paint and coatings.ccording to the s&p indices, they want more representative exposure to semiconductor materials. i don't blame them. plus because the dow jones industrial average is weighted by price, this is really hard, weighted by price rather than market cap, lower-priced stocks like dow or intel simply don't have as much as an impact as the higher priced points. you would never do it, i would never, but they don't call it the venerable index for nothing. that's why the two highedweighted are goldman sachs and they both have share prices north of $500. just buying them home depot are in the neighborhood of $400. but intel's $22 share price means it accounts for less than 4% of the index which is a big problem, intel is the only semiconductor name, and we know the technology is a huge part of the economy, huge part of everything. simply, dow is the only material stock on the index with roughly $48 price per share, that means it accounts for less than 0.8% of the dow. this is supposed to be please at

sherwin-williams may be replacing dow. company known as dow chemical is out of the dow jones industrial average. intel -- and i don't know this off the top of my head, i would love to know how long intel has been in the dow. probably a long time. intel is out. nvidia and sherwin-williams are in. tim, i know we don't care about -- i get it. this is a big move on a friday. >> we care about it, and we just got done talking about exxon, the time to buy exxon was when exxon was kicked out of the dell. i do think that the index and the passive money that is tracking an index like the dow, it's very powerful. and to some extent, i do believe it's more impactful for nvidia than i think it is on the downside for intel. >> how much money is indexed to the dow? >> i don't know. >> i don't know, either. >> it's not a lot. people are, like, nobody trades against the dow. they're right. the dow is a news thing for the most part, it's what mom and pop know, it's sort of a benchmark trend. it's not a trader's thing, i get it. but when a c

shakeup in the dow and sherwin-williams. who thought sherwin-williams joining the benchmark?stock in the country. and dow inc., whose market cap down $30 million, both getting the boot. >>> warren buffett's berkshire hathaway sold down apple stake. more details ahead. it's monday, november 4th, 2024 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. it is election week and markets are gearing up getting things ready to go. if you have been looking what is happening. s&p futures up 12. the nasdaq indicated up by 38. let's take a quick look at treasury yields. yields have been continuing to climb. yields are

another dow shift taking hold today is sherwin-williams replacing dow inc. sherwin-williams shares up over 7% for the week. that is the morning set up. >>> to breaking news. leaders in jchina announcing stimulus measures this morning. let's get to eunice yoon with the details. >> reporter: thanks, frank. it wasn't the type of stimulus that investors were hoping for. the headline number is big at $1.4 trillion. the money won't be spent on direct stimulus for demand. 60% of the program is allocated for local governments to issue new bonds over three years to pay off what the government is calling hidden debt. this is off balance sheet debt. debt that has gone unrecognized and weighing down the economy and a big source of risk. this program includes 2024. the local governments will also be allowed to issue more special bonds over five years to raise funds for this same purpose. local governments have been the work h workhorses of the spending with infrastructure. that means they have been racking up a lot of debt. the finance minister said there is zero toleran

taylor: sherwin williams has a market cap of $98 billion, nvidia is $3.6 trillion. three times the influence. brian: that's amazing. i have a management for you as well. even though intel's out of the dow, they're bringing back free in-office beverages, so things are looking up. and on that note, i'm going to take it over the charles. charles: don't get me started. anyway, it's a great day. have a great weekend, y'all. good afternoon, everyone, i'm charles payne, and this is, indeed, "making money. " breaking right now the market right now, this rally, the big question, is it just getting started, and where do you want to place your chips? a lot of folks are talking about small caps, but they're dumping some reliable winners. a lot to navigate here. we've got sam stovall, giving you a grand slam, out of this world, we've got a new one for you. plus, prosperity alert, time to sop celebrating the election and get your own piece of the pie. i'm going to show you how to break down things in your own environment so you can make some money. donald trump and jay powell, th

sherwin williams will join the dow.im, today, mentions the lack of money indexed to the dow. >> this is the type of thing, before david gets into his atavistic rap about dow jones -- >> thank you. >> -- this came out. i was doing my show. i have a show. every time i say i have a show, my wife says it's the network's show. >> it is. they own it. you just show up. >> suddenly, nvidia is up three on this. there's no money really indexed -- >> no. atavistic, anachronistic, something out of its proper place and time, a price-weighted index, statistically insignificant. why we spend time talking about about it is beyond me. >> i'll tell you why. even though i say, nvidia, own it, don't trade it, nvidia will go back to where it was friday before this announcement came and intel is the one you want to buy. pat gelsinger and i, tight. >> what did you just say? what came out of your mouth just now? >> told you. pat gelsinger and i are tight. that stock's done going down. it's ridiculous. >> by the way, i'm just reading "tight" me

neil: we have two new entrants in the dow, replacing intel, sherwin-williams replacing dow chemical. it gets some attention if you own a dow fund, you have to purchase these issues, what do you think? >> until had to come out of the dow, if intel went 20 it would be a few hundred doubt points, united health would be 3500 dow points so that had to happen. i'm not sure it is the greatest move putting in nvidia after this gargantuan run but these indices believe in putting in the hot stuff and i can't blame them. when they first put apple in, they are onto something. neil: you could have nvidia coming in. it isn't as influential as far as price denominator as sherwin-williams which is a separate new entrants so you are right to point that out. thank you very much. we are getting an alert from the financial times that says robert like heiser -- lightheiser is picked by donald trump to head us trade policy, he was on the shortlist on a short list as a possible treasury secretary but to show how important trade will be, the tariffs you hear so much talk about, he's and picked to run us tra

the dow topping 44,000 for the first time, welcoming two new components, nvidia and sherwin-williams. nasdaq is up almost 6%. the yield on the ten-year note 4.1 -- >> a touch below. >> following yesterday's rate cut. >> 6,000 is bullish, but i think underpinning that is exactly the discussion we'll have on rates. you get that ten-year falling, you tell me, but that's a very positive development. >> it well could be. i always think, in terms of ranges. i think like, when it hit a low, it came up, and now it was exploring the top here. where is the top of this? we have somebody here that might be talking about this. >> let dow 44k, s&p6. can the gains continue? if so, for how long? we turns to our panel of experts. mark lucchini, and ron ansanaa. >> ron, i sense you may want to pour some cold water on this? >> not for the remainder of the year. in many ways, maybe a larger package that's current le envies -- visioned. i think next year can be again, this goes back to 2016 in my mind, when you take trump literally, but not seriously. if you take him both, and you're talking about tariffs

sherwin-williams, i think employees were shocked. what? did i hear that? >> paint? >> chesherwin-williams. >> what's the market cap? >> 90 billion. i was surprised that dow inc. was still in there. it's good. >> meantime, semafor reporting that the policymakers are discussing scenarios if intel needs more assistance beyond the billions of funds the company is slated to receive from the chips act. intel allocated $5 billion in grants. top officials at the commerce department and senator mark warner has discussed if intel needs more help. it shows intel is viewed as extra strategically important. reports say there's little appetite for a 2008-style bailout. this goes to the idea of how much government funds have gone into intel and idea of picking winners and losers and industrial policy. what kind of face are you making? >> we said all along -- >> it was always going to be a tough road. >> when the chips act passed, it seemed intel would be the one to do it. two years later? >> it seemed to me, the thing i thought, you need to make a lot of bets. you can't put all you

united health and newcomer sherwin williams among the biggest contributors to the dow.in williams, known for its paints, but also in other areas as well. >> also contributing to the rally the president-elect's pick for scott bessent for treasury secretary. he's seen as, i don't know if we should see as less hawkish on tariffs. he got the job partly to advocate for that strategy to. >> what's interesting mr. bessent has back in history a connection to george soros of course yes. >> and that was viewed as a possible disequal cation. he overcame that. >> target stock shares down 16%. one analyst hoping for a turnaround. we'll trade this in three stock lunch coming up. target taking it on the chin, some people saying it's just as simple as they, they don't have as good a product, not as good of merchants as the walmart people are and not as prominent in online sales. >> ken, any thoughts on the 5% rebound rally of target. that quarter was shocking. >> i agree. effectively they can't beat walmart. every time they miss earnings they have an excuse whether port strikes or weat

sherwin-williams up 91% and it gives you an idea of where the dow is headed. kelly, back to you. >> thank you very much, dom chu. we are 11 hours away from the start of election day and the race is as tight as it could be. the latest polling shows vice president harris taking a lead over president trump 47-44%. the state has voted red in the past two elections and had trump surpassing harris by six points just a month ago. meanwhile in kansas, recent polling shows harris trailing trump by only five percentage points while the difference has always been double digits going back to 1980. those are just two polling slices. for more on where things stand let's bring in larry sabato, director for the center for politics at the university of virginia. larry, it's good to have you. we wanted to highlight iowa and kansas in particular. your protege, p.k. carnick was explaining this to me a little bit, but there's a hurting behavior with a lot of these polls that have them showing the races nearly tied. iowa and kansas may be somewhat of an exception to that. can you d

retail at ever core, i thought sneaky may have been a clue that it's a speaker company but it's sherwin williams, isn't it? >> it was a good name before but still is for momentum into 2025. is there a political rationale for that or just positioning? >> sure one has been on the top five for over a year but the kicker is that we finally have some potential bottoming of the home-improvement market and if they just get some volume into next year and talking about the housing market, anything to prime the pump and bring back the supply side would be great for the whole home-improvement market but particularly sherwin williams given a lot of smaller ticket projects. >> he was concerned we could see labor constraints be a headwind on additional supply. >> it's always a risk but we know that demand has not been good for home-improvement so to us the point is if it can get better from here, we have housing churn at a 40 year low so we think as that starts to bottom and improve their should be upside across many of the names. >> a lot of investors are waiting for that moment to jump in and maybe even loo

nvidia and sherwin-williams replacing intel and dow.t 9:30 this morning, those guys are in and the other guys are out. treasury yields is one piece of the puzzle we all have been trying to understand. the ten-year note is 4.298. >> we'll talk all about interest rates and all kinds of things. for some reason -- >> mortgage rates going up. >> i think -- i hope nvidia is not an alagory for the than tire market, andrew. by that, here we are getting in at $3 trillion. it's made unbelievable moves. will it go to $6 trillion? it might. we don't know. there's plenty of room if there's competition or if it's not quite as exciting -- if the futures -- i guess the future is bright for a.i. you can't discount that. here we are. in the past when it's happened, the companies have continued to do well like apple. >> it's not just in the market for the first time and the only way -- yeah, most people, i think -- >> if it just says where it is, it's an achievement. i guess, you know what? i'm worried about the entire landscape from here. you've talked a

and nike getting assist from sherwin williams paint company flying to and a all time high right now. remember, sherwin williams is a dow knew bee both joined the club with '24 up gaining 4% over just past two sessions speaking of nvidia bottom of the dow we've got it down 3.7% and a.i. chip leader stock by the way tripled in value the past year there's that. it is continuing the retreat it began after posting earnings last wednesday night. lost about % since then earnings were great, but expectations were shall we say greater. conversely look at how data server company and nvidia company supermicro performed since wednesday shares popping 31% to the top of the s&p. after nvidia jenson wang gave smci a shoutout during earnings call for the a moment a shoutout to industrials chief global strategist for the americaings gabriela santos and alley mckearney it is so interesting you have the scott best engt treasure treasury news that brought yielding down. you've got stocks moving higher but then you've got the global story with hezbollah and israel possibly striking the deal. what does th

sherwin-williams or people buying paint?those guys as a read through for home depot and lowe's. none had great quarters. all mostly negative. black and decker was negative. besides that, others are getting less negative. we would rather own the retailer than the brands. the retailer is not yet restocking. in 2025, they might start to restock again. we are not seeing that right now. it's a very difficult environment for some of those brands. >> last question. home depot made a big acquisition this year. they bought srs distribution. the idea is they are targeting quote/unquote $250 billion market. investors seem to like it. >> that's the complex pro that i was talking about. home depot has pretty wide share in the diy business and small pro. this is the next layer of business that they go after. it is the complex pro. it is a very hard business to go after. home depot built the infrastructure to do that, but this acquisition gave them a kick start in that business. >> michael baker, thank you very much. >> thank you. >>> comi

made this agent announcement but look who else is up in the dow leaders, nike, goldman sachs, sherwin-williams, this is a broader based rally. >> it is extending beyond the mag seven. going back to 1946 there have been 12 bull markets with an average duration of 5.3 years. 178%. two years into this bull market the return of 50%. this time could be different. as we just hit historical averages we've got two more years to go and another one hundred% in upside potential. liz: we have dr. seuss characters with one eye going this way and when i going that way is one i is on bitcoin. we have $1000 of $100,000 for bitcoin and a bit of shaky news that didn't -- gansler will announce he's stepping down january. micro strategy, the world's largest holder of publicly traded bitcoin, and the fame the short seller saying this is getting too -- disconnected from reality. >> i would argue it has been disconnected from reality for a long time but we have a trump administration that is pro-crypto and pro-bitcoin. that could lead to more upside potential. how do you put a proper valuation on it? charles: they r

procter & gamble, visa, verizon, walmart all that, the s&p 500 the winners headed by mosaic, sherwin-williamsnow the nasdaq winners dollar tree, charter communications, micron diamond shamrock, diamondback energy they are all winners on the nasdaq habit the ten year treasury going down below 4.2% the price of gold were looking at 2750 up to dollars today, bitcoin that is coming in at 68000, oil is at $71 a barrel, nat gas 269, the average price of a gamut of regular, $3.10. how about that coming down very gradually. in california you're going to have to pay $4.54 for regular. joe rogan grilling senator fetterman over the democrats weaponizing immigration politics. >> didn't that deal also involve amnesty, these people will be moved to swing states and that will be used to essentially break those states and turn them blue forever. i'm not really sure. >> yesses yes that's exactly what it's all about it pete hegseth takes it on later in the show. "saturday night live" this weekend. >> it's nice to see you kamala harris. it's nice to see you kamala. wait a minute that joke seems awfully familiar

nike, unitedhealth, 3m, chevron, sherwin williams all on the upside. nike up 1.5%.. bath & body works, ulta beauty, walgreens, am core, act ct -- activ, all moving higher. nasdaq, wall green boots on the nasdaq, dollar tree, sirius, charter communications, all moving higher. wall greens boots alliance, by the way, up 2.75%. let's take a look at the 10-year yield. the yields have been coming back just a little bit, down 5.2 basis points on the 10 year at 4.25%. taking a look at gold, if we can. gold up $332 the at $2678 -- $32. and again as we just talked about with taylor, bitcoin moving higher. it did get close to $100,000, maybe that's the measure there and then came back. but it's up again, $94,6007 for bitcoin. wish i'd bought it a lot earlier. >>> all right, coming up, senatorny ernst audited the irs -- joni ernst. she found they owe nearly $50 million in undue taxes. the senator will be on the show. >>> a new show, landon, from the creator of yellowstone, going viral over a clip that slams renewable energy. >> do you have any idea diesel they have to burn to t

. >> sherwin-williams. >> they will joined the dow jones industrial friday morning they replace the dowmpany up for another percent. >> they are big enough to get into the dow industrial. >> they sell premium priced paint spinnaker take your word for it, today jd vance and tim walz will make one last pitch to voters in wisconsin, mike tobin is in la crosse. what can we expect from the vp candidates. >> it is all done as far as persuasion from the vp candidates and so many of this arrogance trying to pump up the base. jd vance is expected to speak at the la crosse center any minute, the candidates of presidential candidates have made their final appearances in wisconsin the vice presidential letter getting wisconsin soil on their shoes and what we saw on that we can with the parade of surrogates doing what we talked about trying to electrify the base. in wisconsin a single precinct might be decided by ten or 20 votes. those votes could determine the fate of our republic the world that our children and grandchildren will then here it. >> the last four years rising prices, low wages and op

sherwin williams, william sonoma, wayfair big winners as well. >> hoping the interest rates come downtead of new homes but when you look at toll brothers that chart is the best chart in the home builder space. and think about why because that client can pay cash. if you could pay cash, you don't care where the 30 year is. you'll outlay the money and figure it out somewhere down the line or refinance it, but you could get bounces in the other ones if you look at that singular chart, it's the best looking chart in the space, in my opinion. >> it is amazing how much the subsector whips around on a 20 basis point move in the ten-year treasury yield. >> i know, we saw that happen before briefly, and before you knew it, that whole -- i guess it was the 50-basis point cut, shortly after rates went right back up. i feel we need to see a little more sustained, i mean, months, to really start to get existing supply coming back in the market. >> there are places that i don't think we're just about scott bessent today. look at home depot, all-time highs, quietly, and this is where we're not neces

important asset to us is critical and something like home depot would do very well in that and sherwin williams, think about paint. high value to upgrade your home and opportunities we see on the equities side. >> that is your space this year, steph? wasn't it one of your top ideas? >> yeah. home depot it's one of my largest positions as well. can you imagine when we have a favorable rate environment and mortgage rates do come down hopefully eventually below 6% with the pent-up demand is going to look like in the meantime, home depot is doing an amazing job in terms of profitability and improving their same store sales they made an acquisition, srs and increasing their pro mix, that is good i think the valuation is the only thing that is a little stretched but if you believe in a recovery in housing, that means your earnings are depressed. so i think that this is a great story and i expect next week, i think lowes is going to be just fine as well i think right now you want to own the improvement companies over the builders. the builders have had a great couple of years, but i still look to buy

sherwin-williams will replace dow inc. what do you make of this run in nvi nvidia? >> i don't think it's dow-related. i think because the amount of money that tracks the dow, it is just the, i mean, the torch has been passed awhile now already, from intel to nvidia. actually, when amd was the little, you know, also-ran, because you need to have two suppliers just in case, that torched past and now another one, so, i don't think that's so much, but i do think this sort of animal spirits, and, you know, all of the commentary around a.i. has been full steam ahead. when you look at amazon and meta, talking about it -- and tesla, even. full steam ahead. >> november 20th, i mean, that's -- not a lot happens now as we get closer to thanksgiving. november 20th is the day that everybody is going to be watching, because they report earnings. that june 20th reversal, we talked about that actually working. you saw where the stock was trading on august 5th. we've taken that out. there's another day like that coming on the horizon. >> what i find interesting is that microsoft has

on friday nvidia and sherwin williams will join the index. intel and dow inc. are coming off. >> the dow jones gets a fresh coast paint here i guess. >> and loses the dow component that always made things so tricky when you were talking about it. >> it's the dow. and nvidia now pulling briefly ahead of apple in the market cap race. there you see it's 3.389 versus 3.382. it hasn't closed above apple on that metric since june. so nvidia doing very nicely, thank you very much. but neither are suffering, i wouldn't say. >> it's impressive. >> in market cap. and we will talk to former fdic chair sheila baer. she's warning about the national debt, saying it could cause the next financial crisis. and neither of the candidates is addressing it. it is always i think leverage and debt one way or another that leads to trouble in markets. and for economies. >> she's been vocal on this for quite some time. but i think it needs an airing and kind of dive deeper into what it could look like under either administration. >> she's written very passionately about it. we welcome h

the delta between a sherwin- williams and stanley black & decker. >> that depends a lot on the categoryrve. for example, home depot noted that paint is starting to see some improvement. paint is one of the home improvement projects that is likely to be completed during not so good economics. that will influence the various vendors performance versus something that is more big- ticket related associated with the move. i would not draw any conclusions otherwise than dichotomous trends based on what is happening in the unique fundamentals of that product. >> we need to touch base in the coming days on retail as we go to the thanksgiving holiday season. thank you so much. >>> bit coin up nearly 25% since trump was elected. the massive rally and the stocks to watch. >>> the delivering alpha investor summit just one day away. i will be there speaking with nelson peltz. find out how his investment outlook has changed. there is still time to register. you can go to delivering alpha or scan the qr code on your screen. when we started feeding bogie the farmer's dog, he lost so much weight. pre-po

cap of $3.6 trillion, closing at a record high officially joining the dow as well along with sherwin williamshis morning. >>> let's begin with this post-election rally and the china stimulus. jim, $1.4 trillion in a debt swap. people are calling it more stabilization than stimulus. >> i think that's right. i think that one of the things we keep thinking is that we're going to wake up one day and they will do something nuclear to get this thing going. they'll keep doing things until it does go. so, those who are playing this game, you probably want to buy alibaba because it's down, betting there will be still one more. they'll keep stimulus going, carl, until they win, and they have a command economy, and i think we keep thinking that, well, it's one and done. david, they're in too much trouble to do one and done. you know that. >> yeah, but they're not doing what many had, i think, hoped when there was the initial pronouncements. >> you're right. >> and you have referenced tepper, of course, who was on our air that day. >> i'm familiar with his position. >> but since then -- >> i mean -- he's