. >>> welcome back to "power lunch," i'm kristina partsinevelos. robinhood is down 10% today after posting a larger than expected loss and quarterly revenue that missed estimates. the company seeing a decline in average revenue per user and also seeing crypto activity decline from highs in the prior quarter. it is the second worst day since going public in july it is below of the ipo price of $38 a share. >> a tough session today, kristina partsinevelos thank you. >>> bank of america's brian moynihan leading a del indication of ceos to two major overseas conferences, the g20 and cop26. he talked with kayla tausche about his goals and also talked about the strength of the economy. >> brian moynihan co-chair as group aiming to standardize climate regulations and commitments from corporations around the world essentially trying the write the playbook for companies that aretrying t move toward net discredit emegs missions by 2030 and beyond. but the conversations are going to be happening against a near term economic background that's uncertain. i aske

now to kristina partsinevelos for our cnbc update. >> here is what is happening at this hour. at least 17 people have been injured in today's earthquake centered near tokyo. at least one is seriously hurt video from the top of a high-rise building shows a shaky view of the tokyo skyline. train and subway service was halted one commuter train partially derail when did it made an emergency stop officials say there is no major damage or risk of a tsunami. >>> in alabama, the death toll from flash flooding has risen to four, all occurred when water swept away vehicles, as much as 13 inches of rain fell in parts of the state >>> ibm says all u.s. employees must get vaccinated by december 8th or be suspended without pay. the company says it will consider medical and religious exemptions >>> and san francisco says it will ease mask wearing kelly, there are the updates for you. i'll send it back to you in the studio >> kristina, thank you very much >>> still ahead, retailers have been warning consumers to start their holiday shopping early this year as the global supply chain is still

kristina partsinevelos looking at those stocks for us kristina >> well, big-picture month today. gains are still very, very impressive all up double digits the driver higher energy prices are pushing up the price or demand, i should say, for solar and solar tan in particular on pace for the best week since mid-january. but today we are seeing a little bit of a different story with most of these solar stocks in the dark the sector most likely falling in trend with guggenheim partners on array technology, down almost 8% you got solar edge also getting downgraded 3.5%. all of these four firms make solar panels or systems for solar energy to work on. so they've been downgraded from buy to neutral why? higher input costs like steel, aluminum, even silver in there you can see just across the board silver up 10%. and that is used in a lot of these solar panels and of course labor. the note said unless input prices fall rapidly soon, the current environment is going to start impacting 2022 forecasts the note has stocks across the sector lower with some power as well as enphase down aroun

. >>> i'm kristina partsinevelos here is your cnbc news update. in wisconsin, a highly anticipated non-partisan election audit found in evidence of widespread fraud. the report says wisconsin's elections are quote safe and secure in minneapolis, a police officer has been charged for a deadly pursuit that killed a motorist brian cummings is being charged with manslaughter and criminal vehicular homicide cummings was pursuing a stolen vehicle at nearly 80 miles an hour when the crash occurred. >>> subways in the nation's capitol will run with sharply reduced service through at least the end of the month the local transit authority removed about 60% of the system's rail cars following a derailment last month. it is working on plans for repairs before the cars can go back into service. >>> in indianapolis you have a house reduced to debris by a violent explosion. six people, including a firefighter, from injured. all have been hospitalized authorities say the explosion may have been sparked by a cigarette. >> that is amazing boy, amazing nobody was fa

now, finally, there's news of a bit of a turn around cnbc's kristina partsinevelos shows us around one of the new prime locations. it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. >>> havana syndrome. it's serious, it's widespread, and it poses real danger to american diplomats and intelligence officers around the world and even right here at home that's the warning today from the white house, that it's reportedly sending out to u.s. personnel. mcclatchy newspaper's d.c. bureau reports, national security officials at the white house were recently issued a warning, move away from the immediate area as soon as possible if you ever feel the acute onset of pressure, sound or heat in the head. and over the past week, policy staff at the p

boom problem solved here's cnbc's kristina partsinevelos. >> would minting a trillion dollar coin solve the debt problem? sounds like an absurd idea but has rallied support from paul krugman. he says the treasury secretary could mint the coin. but treasury secretary janet yellen begs to differ. >> i'm opposed to it and i don't believe that we should consider it seriously it's really a gimmick and what's necessary is for congress to show that the world can count on america paying its debts. >> reporter: this isn't a new idea an old u.s. code puts the minting of a coin into law even president obama weighed the possibility while facing his own debt crisis in the summer of 2011 he later recalled it as one of the scariest moments of his presidency during a podcast interview years later. >> there were all kinds of wacky ideas about how potentially you could claim to have this massive coin i mean it was like out of the stone age or something. >> reporter: trillion dollar coin or not, time is running out for congress to raise or suspend the debt ceiling or else risk default on payments and plun

convalesc kristina partsinevelos is live there. >> well, should the high occupancy rate of this building be a barometer for all the office market in manhattan i'll have the sw oth aanerf ats well as some wreaths that should be on your radar coming up right after the break. it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. >>> as we approach a post-pandemic recovery, ida ireland aims to shine a light on the trends that will drive the fdi space. from tech innovation to covid recovery, sustainability and ease of doing business, our selected experts give key insights into the sectors affecting how decisionmakers can make smart choices about their f

, thank you kristina partsinevelos >>> straight ahead on the show, bitcoin hitting a record today we'll talk to fundstrat's tom lee and why he's getting even more bullish on equities >>> tesla, las vegas sands, csx, ibm all set to report. we'll break down the numbers and get instant analysis for you coming up on "closing bell." the dow is up 122, losing a little bit of beat an award-wip with powerful, easy-to-use tools, and interactive charts to give you an edge, 24/7 support when you need it the most. plus, zero-dollar commissions for online u.s. listed stocks. [ding] get e*trade and start trading today. never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers, plus some of the lowest options in futures contract prices around. get e*trade [ding] and start trading today. my dvt blood clot left me with questions... was another around the corner? or could i have a different game plan? i wanted to help protect myself. my doctor recommended eliquis. eliquis is proven to treat and help prevent another dvt or pe blo

kristina partsinevelos is here to explain >> yes, it is complicated. frank, united -- although it's still lower than the 1.75 peak in march, the 10-year yield is rising economist david rose enburg said it's entirely almost due to the expectations regarding fed policy the nasdaq 100 is comprised of large-cap tech firms and has dropped over 4% just in the past month, 5% now. high valuations because it means earnings years from now are worth a lot less but utilities is the sector facing the biggest drop. year-to-date returns are just hovering around 3% versus the s&p 17% return and we can show you the divergence right now between the utilities xlu etf. even if you talk about the near term, definitely separating right there. and utilities like pinnal west and atmos, those are some of the worst performers year-to-date. but rising yields is not the end all. in a bank of america note, analysts argue increasing treasury yields are not bearish for u.s. equity, citing data back to 2005 that shows the s&p 500 is stronger on days the u.s. 10-year yield rises. sinc

partsinevelos here with more of the breakdown. >> we've got a mixed bag today this is after investors digest earnings report as well as labor data we are seeing the s&p 500 pretty much flat to the negative, specifically with the s&p 500, it's the sixth positive session in a row that was yesterday, the longest winning streak since july. it also closed just one point of its record close the dow, though, is down about 0.4% but it managed to close above its 200-day moving average day yesterday. that's 221 straight sessions currently, though, there is no sector that is more than 10% from its 52-week high. energy is the biggest laggard. and then other sectors in the red, you've got materials as well as financials dragging down the dow. and then the winners, consumer discretionary, as well as utilities. but i want to talk about cars. following autonation's big beat and buy-back program, car retailers are rallying across the board today. you've got advance auto parts, o'reilly auto, auto zone both trading at all-time highs. and, yes, the computer ship shortage is bad for production, but the s

. >>> let's get to kristina partsinevelos for a mark flash from just across the studio. >> let's talk about shares of 23 and me they are soaring today up about 16% its best day since his spac marger in june the stock popped yesterday why? because of cnbc. during "closing bell" when we had emg capital founder say that 23 and me was top pick for two reasons, one for its subscription business and two for it is therapeutics business. they collaborate with drug companies to develop drugs based on the genetic data it collects. credit suisse and other company are bullish on the stock it has a huge database of genetics with more than 11 million geno typed individuals myself included. >> not i >> i did one once with bill griffith after he had -- he wrote a whole book about his, and yep. i found out i have stand nativian history i didn't know about. >>; is that right. >> yeah. >>> never count out the consumer retail sales beating estimates last month as americans stepped up their spending slugging off delta variant concerns and enhanced benefits. is this likely to continue jerry store itch is c

partsinevelos >> thank you, jon. here's what's happening at this hour american express leading the dow industrials profits shot up 70% from last year's levels. the company saying travel and entertainment spending is rebounding, but businesses are lagging consumers. >>> severe weather causing problems for a meat producer beyond meat has lowered guidance because one facility lost its water supply for two weeks and another water damage beyond meat shares sinking at least 13% today. >>> a government watchdog says the faa lacks oversight of american airlines maintenance issues a report says in more than nine out of ten cases examined, faa inspectors accepted incomplete reports on maintenance reports and says they were closed before american took corrective actions. >> matel bouncing off morning lows, reporting strong quarterly results and saying supply lags won't crush sales. it contracted more shipping capacity and matel has raised full year sales guidance holidays are coming. back to you guys >> they are coming soon. i

. >>> i'm kristina partsinevelos here is your cnbc news update at this hour. the supreme court wants texas to respond by thursday to the biden administration's request to temporarily block the texas law banning most abortions the white house isasking for a stay of the texas law while the fight over its constitutionality plays out in the courts. >>> the department of homeland security is creating a new intelligence unit that will track the movement of large migrant groups the goal is to prevent a recurrence of surges like the one last month when thousands of haitian refugees sought to enter the united states from mexico. >>> disney is delaying the release of a slew of upcoming movies the fifth indiana jones movie is getting pushed back nearly a year to june 2023. sequels of "black panther," dr. sprang, thor, ant man and the wasp are also being delayed by several months. >>> kayak says it is seeing a spike in people searching for trips to the united states since travel restrictions were loosened the website sats searches shot up 48% on saturday versus the week a

partsinevelos. >>> pain at the pump, "on the money. it's been seven years since americans have paid this much on average for a gallon of gas. that's according to aaa. today the national average, $3.22. more than a buck a gallon higher than this time last year with oil prices rising, there's little chance gas won't follow. >>> work grinding to a halt at all kellogg's cereal plants across the country roughly 1,400 workers went on strike the union and the company at a stalemate for more than a year now over pay and benefits. the union says the company's threatening to move jobs to mexico if members don't accept what it calls outrageous proposals. but kellogg's says its compensation packages are among the industry's best. at this point, it is not clear whether tony the tiger will be hard to find >>> and tina turner selling the rights to her music catalog to the publishing company bmg for an estimated $50 million that includes her mega hits like "what's love got to do with it?" bmg says it will be a partner in all her music interests. tina

partsinevelos. kristina >> thank you, wolf and here is your cnbc news update at this hour. air force airman has been found guilty of murdering a mennonite woman from new mexico. the jury reached its verdict after less than a day of deliberation he was also found guilty of kidnapping sasha krause. he faces life in prison on the murder charge. >>> near norway's capital of oslo, a man armed with bow and arrows has killed several people and injured others the suspected attacker has been arrested police say he walked around the city as he shot arrows at people >>> back here in the united states, the tsa says firearm confiscations this year are the highest since 2001, and that's with three months left to go in 2021 this year weapons are being found in carry-on bags at twice the rate in 2019 and the treasury department is launching a new effort to study the financial impact of climate on households and communities. the project will focus on how historically disadvantaged people may be affected sara, back t

partsinevelos. >> hi, sara. here's what's happening at this hour the nor'easter that hammered new england took part of a roof on this apartment building just near boston. you can see chunks of it on the ground behind the housing facility no injuries have been reported, but crews are now trying to patch the hole left behind and stop further water damage. >>> amazing video of a tornado that touched downin eastern texas. you got the twister that became stronger and more defined, then started ripping trees out of the ground and sucking debris hundreds of feet into the air. >>> far more meat packing workers got sick from covid than previously thought a new report from the house of representatives say at least 59,000 meat packers became ill that's nearly triple the estimate from a food worker's union. the report says companies could have done more to protect their workers. >>> and the state department has unveiled a modernization plan. secretary of state blinken says he's looking to build expertise in areas including