tv Worldwide Exchange CNBC November 24, 2021 5:00am-6:00am EST
breach a warning of hackers striking over the holidays. >> and a morning rbi puts president biden oil in context this is "worldwide exchange. >> good morning. good afternoon, good evening happy thanksgiving eve i am brian sullivan. thank you for joining us think about interest rates and maybe turkey stock futures tuesday, merely a mirror image of monday. the dow up tech down and commodities up dow futures are down about 130 as well. nasdaq futures are lower
the dow has done a little here and there. a pretty sizeable decline with the underlying story nasdaq futures down about 34 points small caps lower as rates try to claw their way higher. yield is lower at 1.64%. looking at oil and the strategic release. oil looking a little higher. this is why at 5:00, you can't look five minutes earlier because things change. there is no volume oil is down. we'll explain why or at least
$1 billion to finish the new vehicle factory in texas the company looking to wrap up construction on several major developments that will produce the cyber truck vehicles that model y is the fifth to car. >> i'm surprised it is only fifth. i joke that california should replace the bear on the flag with a model 3 or something. >> it is up there in california,
they've learned the lesson i think at the end of the day, size matters and why not the larger the size, the bigger the multiple people pay for that dearly >> those stocks we are thankful for. pen ski automotive group, we don't talk about it a lot but it is big, it is a power house and it is growing. >> they don't see it that shift has been a little more
valuation and stock valuation it lives in the shadow of dicks sporting goods academy is a younger story a little more room for growth. a compelling idea of market trading. >> i know you got up early we appreciate it >> we are just getting started your morning and one computer getting a boost. consumers getting a jump start on the holiday season how those
efforts could be making it worse elon at it again ntui tse shares of tesla. we are back after this you for dg the power of purpose. through your work, your caring, your dedication to being wherever you're needed, becoming part of families, bringing more confidence to the comeback, and delivering the essentials to people's doors, you give over a hundred million people the chance to achieve a healthier life. thank you for bringing your heart to every moment of health. ♪♪
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shares down 13%. cutting guidance on the year supply chain problem including factory closures in vietnam. addressing the issue on jim cramer last night. >> shorting the stock out about half a billion in transitory air costs. we believe the right thing to do with the right stock across all four grands. >> stock two another retailer nordstrom fell
well short product shortages nordstrom wrack has suffered severe shortages in things like women's clothes and shoes. hp with a strong outlook office reopenings are helping with the pc demand that stock up nicely. >> still ahead, adele continuing her global nomination in music the record setting album that story is straight ahead >> announcer: today's big number, 53.4 million
the christmas parade tragedy including another death of a child. the suspect appeared in court to face five counts of homicide and a sixth to be added. >> the fate of the three men accused of killing ahmaud arbery in the hands of the jurors hours ago, nasa sent the first mission of its kind to space with a mission to head to an asteroid. the space craft will smash into the asteroid at thousands of
top selling album of the year and very high price for one, shall we say strong smelling ingredient often found by large hogs in the woods. bertha, before we get into this, your view on die hard. christmas movie. yes or no? >> no. i'm all about elf or, you know, the fun stuff. that's just me i'm not into blowing things up for christmas a surge in global wealth, inflation, crypto and nft craze
raised the demand in prices. adele is still rolling in the deep with her new album which has taken three days to become the top selling album of 2021 confirmed by billboard, next week, 30 will become adele's third number one album in the u.s. a two-pound white truffle has sold for almost $118 million at auction in italy. held at the truffle fair and purchased by the chef who runs an italian restaurant in hong kong the prices have risen due to a hot summer in italy and the
supply chain issues. >> it is everything. why didn't you do the laundry? supply chain issues. you didn't pay the electic bill. supply chain issues. >> the one thing about truffles. you get a plain bowl of pasta. add some truffles, now $92 >> next. more on turkey's growing economic crisis and apple is taking steps on how to do business in a country like that.
oil climbs even after the oil release. the context and what is fuelling that jump. stuffing, yams and good old fashioned holiday hack it is wednesday, november 24 you are watching "worldwide exchange." good morning happy thanksgiving eve full day of trading today. half day of traden on friday we are seeing dow futures off
tech and small cap stocks down we'll see how long that may last some tech stocks on a down rate low. some ticking lower they have come off their lows. still a very low 1.64% the markets aren't do being a whole lot but certain stocks are. one of your big morning movers, zoom shares down a little a number of firms slashing their prices. i know a lot of you have never not gone to the office i know friends in texas who are
saying we never left the office. >> and here, google and an internal fight over vaccine mandates >> several workers have signed a manifesto opposing the vaccine mandate. the document signed by at least 600 workers is asking the tech giant to retract the mandate and form a new one inclusive of all googlers they've asked all employees to update vaccine status by december 3 whether they plan to return to the office or not. google has said all employee who work directlyor indirectly with government contracts must be vaccinated even if working from home. >> apple has halted online sales in turkey. reports cited that if customers
visit the store in that country, they are unable to add items to th their cart musk sold another $1 billion worth of the automaker stock part of a prearranged plan musk sold nearly $10 million tweeting that poll selling 10% of his shares. looks like folks are getting used to it >> don't talk about the turkey economy too much but they are cutting interest rates aggressively that value down 33% in like two weeks. >> it is not a small economy globally >> it makes me wonder if they
can find the restored value in crypto in china, we did see the government blocking people from having access to cryptocurrencies >> china blocks people from doing things on the internet are you kidding? what i apologize. it is too err will i for that level of snark thank you verymuch thank you. time for this orning's rbi
storm a few reasons oil prices rose put this into context those are very small opec oil may not be the kind u.s. companies like to use it can be used in emergency. since there is no emergency. some have reported much of that oil can be sold to other countries whose refineries do like to use it like china and india
>> we have the deal coming in india. under that option. they are allowed to say let's take a pause if they had paused their increase they would look overly political. i think they look over the course now i think doing a change in output this soon would put them under the scope of congress rels that would have that nopec floating around very complicated what do you think? >> i think certainly the u.s. has attempted to artificially
tame a tight oil market and not succeeded in that. more of the impact in those prices give to a more volatile year coming up in 2022 our house view is that the oil markets was already in sort of a slow walk towards fundamentally loosening in the first quarter of 2022. if opec sort of stays its course and keeps the $400,000 barrel increase, we'll see a loser market for 2022 and opec would
not necessarily change the actions unless they get to the band level that is too low for its comfort zone >> you think the path of least resis re resistance would be down >> we have to wait to see what the other opec allies have to say on that. somebody should be sitting and watching that call coming up, the global supply chain crunch potentially putting a damper on the christmas gift season the race to snag presents may be
hackers. eamon, who is most at risk >> just about every big company is at risk here they don't have specific intelligence take a look at some of the greatest hacks. clonal pipeline on mother's day. jbs on memorial day and kaseya on fourth of july. hackers know folks in the u.s. will have some did you know time
being off with their families and they might not respond as quickly as usual they said one unusual aspect i didn't see coming. >> saying 70% of those responding were intoxicated when having to respond and having a skeleton crew and those responding online. >> saying your it department might ge might get drunk this weekend and have trouble responding. you want to let people have some time off and have a glass of
wine with dinner or a beer while watching football but you also need a work force in place not saying anything is coming but be prepared. >> i'm not comparing news anchors to doctors or lawyers. if you are on call, something goes wrong, you can't be three cocktails in how do you handle this do you have bob, you are on duty no drinking. we might get hacked. >> you have to make sure your patches are up to date and secure and have a labor work force and put some people on call and say you guys are on
soft launch if we have something. don't be into the beer stay off at least for the day. >> stay alert. >> eamon, hope you enjoy a cocktail with your family and 14 kids how many kids do you have? >> four. tabing them to see the grandparents it will be great are you going to do the van gaugh emerge >> got to check that out don't do that when you are three cocktails in >> or anything else. >> go to denix at the market with thepork
going to our guest good to have you on. i was joking saying if i say supply chain issues one more time, my head is going to explode. are consumers making it worst? >> good morning, brian i think the panic shopping started in march of 2020 and has continued to snow ball we say supply chain shortage is like 365-day christmas shopping
season >> probably guilty we've told people to shop early. what are you see fewer ships off the coast of l.a. have you seen any easing shipping rates have come down. >> they have come down but are still 40% up from last year. the panic buying of toilet paper led to panic buying of everything as far as black friday and cyber monday, it started earlier you drive around my suburban neighborhood, everyone has their
decorations up and have for weeks. talking millions of containers that will be stuck by the time it gets to port and to stores, consumers won't see some of that product for months and months >> you are one of the leading wholesalers out there. that's what you do consumers like to shop around. you are saying, don't do that. when you see it, snag it >> this is the tool you love if you are shopping for a kid or parent for a specific gift it might not be there.
consumers are in chrome right now. as containers start to arrive. >> we have a container overload that is not the case you see it and you like it buy it thank you for coming on. appreciate the insight take care. >> you too, brian. on deck, stocks trying to find any moment heading into the holidays as well
we are having a great start to your wednesday. happy thanksgiving eve we are thankful to our next guest. john, great to have you back on. happy thanksgiving to you and yours. maybe tomorrow, you may be watching some football and eating some bird or discussing strategy how are things looking in 2022 >> showing 6 to 10% expected gains. are you optimistic for next year >> thanks for having me on the show indeed, i amoptimistic
>> powell has proved himself capable of pivoting. we think he's going to be sensible we think the market is very much relieved that biden did not name another person to lead the fed when you consider he's terrific. you don't want to change the fed chair. you want to renominate as they've done well in a tough environment. they've sold off to the levels of last week.
>> if i look at yesterday, naz down down .07. on the other hand, the s&p information technology sector was only down 0.21%. so about a third of that lower because older tech, more establish tech is core and gives you exposure without that volatility you get but still doesn't pay dividends and really established. >> it was quaint back in 1999 when cisco was a company with a market company of a billion. now that would seem like midcap. appreciate you coming on have a great thanksgiving. take care. >> same to you that does it for us here on
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