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tv   Making Money With Charles Payne  FOX Business  January 13, 2022 2:00pm-3:00pm EST

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♪. ashley: by the way ford motor market value topping $100 billion for the first time ever, as automakers stock jumped 4 1/2% hitting another 20 plus-year high. my time is done. charles payne, it is all yours. charles: thank you so much, ashley webster. good afternoon, everyone, i'm charles payne. this is "making money." breaking right now, there is tension in the area, you can feel it. wall street is trying to digest the possibility of four rate hikes, balance sheet runoff but the near calm today belies the biggest names in the market. the question for you, should you be a buyer or a seller? earnings season has begun, folks. what you should expect, what you should own, what you should avoid.
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money fleeing the u.s. dollar. the question where is it going? how you cash in. meanwhile members of the fed talking woke, but will they let the market stumble in order to crush inflation? tension turning stomachs into knots in washington, d.c., after using covid-19 to push his agenda, president biden trying to catch up as he strong arms democrats to get rid of the filibuster. his poll numbers are dropping. subsidized pet care, all kinds out of this world, out of the box benefits, i can't wait to tell you some of them. the question how will this be able to work long term? is it sustainable? all that and so much more on "making money". ♪. charles: inflation spike continues, folks on all levels for producers. that ppi number coming in 9.7% in december, second highest on
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record. monthly change, .2 of a percent. that is half of what was expected from november. at love this of course is omicron played a big roll here. we knew of course people took fewer flights. the other parts of the economy slowed as well. we know food and energy also one of the reason goods were down .4 of a percent. services grew at .5 of a percent. market edged higher out of gate, bond yields went lower, the question is, is this market beginning to look past inflation, look past all the rate hikes? larry glazer, david nicholas, danielle shay. start with you. tentative session, feels like so far this week, markets are looking beyond their horizon. is it too soon to over look a hawkish fed? >> beyond is absolutely the right word. is there anybody that doesn't know inflation is a problem? look it, the news, look at the paper, go to the grocery store, go to the gas station, it is everywhere. if everybody knows it. even jay powell at the fed
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admits inflation is a problem. admitting you have a problem is the first step towards recovery. we can look beyond inflation and omicron. charles, it is tough to be a tech investor when you have inflation. when you start to realized it is priced in, price to value, price to sales like tech stocks you've already been crushed. it is in the market. for everybody else there is rotation. the rotation already happened. charles: meantime we had 10-year bond yield up, danielle. that is still edging lower. it is not necessarily panicking. really can markets in general, stocks and bond markets say okay, the fed will hike, let's move on? >> you know, i think we've been talking about it for so long, in some respects it is priced in. what i'm seeing with the price action on a day-to-day basis in the market, investors looking at it, saying so you think there is a chance, right? we know to some extent the fed is not going to let the stock market fall apart. so, i think right now investors are cautiously optimistic but
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they're skiddish. if anything negative hits the market we're unexpecting that is when we'll see a lot more downside. charles: only thing we talked about more than inflation is rotation. we talk about all the time. apparently the big rotation leaving u.s. dollar going to other assets including emerging markets but is this the right play, david? >> i think if the dollar has peaked, looks like in the short term i think that bodes well for emerging markets. the slide in the dollar is synonymous with the global recovery. as activity comes back, as international travel comes back, supply chain issues hopefully abate, that is great for outside of the u.s. so i think emerging markets make sense. it's a rotation not really talked about a lot, i'm glad you brought it up. i think money will be flowing. >> thanks a lot, david. danielle, look at a chart. the dollar, it is breaking through the 50-day. look at emerging markets, breaking above its 50-day, kweb
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chinese technology names are rotating. are you buying any of that? >> no, i'm not. even though those factors are true i think the dollar is still holding support and i think emerging markets are trading into resistance even though the support little lower than i would like to see, and resistance little higher than what i would like to see. i don't think the emerging markets will outperform this year. the world as a whole is struggling. vaccination rates are incredibly low. air travel is hampered and i think the dollar will buy support here. charles: along the same line of thinking more wall street firms sifting through the ashes. last couple days i've seen up grades, "buzzfeed," yesterday, bumble today. let me go back to you, larry, you started the show off tough being a tech investor. it is really tough when you sift into the ashes of those names down 40, 50, 60, 70% from their 52-week high. are you looking at any of those names? >> charles, it is no laughing
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matter and wall street sold main street a lot of baloney in the last two years. that baloney a lot of small technology names had really rich valuations, a lot of them spac became a four-letter word. these stocks got crushed. investors got hurt that is really unfortunate. with that said, eight out of 10 are not good investments. there will be opportunities in the rubble, diamonds in the rough. some companies were mispriced. they will be fine. look at draftkings. can bet in new york state on the playoffs. these are game-changers, revenue changers. valuations need to be adjusted but i think there are good companies here long term at the right price but they will not all survive, no doubt. charles: something similar to that, much has been made again over the last several months about the concentration, right, of the influence of the top 10 names in the s&p, how much influence they have over that and many are comparing it to the tech bubble, right? they say, well, that is a clear sign we should be selling but i personally think it's a mistake.
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however, david, i saw, i think i saw you with stuart varney, you sounded pretty bearish to me. you have a peg ratio 1 1/2 on a average versus four back then. do you think these names by the way are sending the nasdaq lower today should be sold here? >> charles, i'm not bearish. i'm just realistic, right? you know, when it comes to these large names, no, i think this is different, right? in the sense a lot of these big names are still very profitable. you look at amazon, $30 billion in net. google, 60 approximately dollars, facebook. looking at facebook. facebook is trading at a lower multiple compared to coca-cola and mcdonald's. should coke and mcdonald's be trading higher multiple than facebook right now? no. charles: okay. >> i think the large cap tech stocks with wide moats i still think they should be okay. we should be buying on weakness. charles: danielle, feel like guy on austin powers, flapjack, no,
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pipe, no. should we be buying big megacap growth names in the market? >> i'm always a fan of these names. i know things changed this year. i know this year will be volatile. i think a lot have come down to much better prices. take amazon. i think it is a great time buying into amazon. amazon is not going anywhere. it will rule the world honestly, if it can stay together right. charles: i think they're already pretty close to ruling the world. talk about more specific, ideas we share with the audience, particularly earnings season. larry, what do you like the most here? >> charles it would be fashionable for me to come on put all of your portfolio into banks and energy because those are really working this year. there is a place for those. they will provide a low correlation and ballast to tech names get hurt in inflation spike. more importantly own things benefit when shipping costs come down like consumer staples. don't give up on innovation. i encourage people.
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think long term. energy trade is very short term thinking. think long term for the portfolio. okay to own the inflation hedges. they serve a purpose. don't give up on the long haul and future growth stories. charles: david, you have a idea? >> i like reasonable tech. i know it is boring. ibm is a market leader in a, 4% growth dividend, ibm to me makes a lot of sense. >> i've again burnt on it so many times just thinking this is the year. this is the year. this is the year. but i will tell you looks pretty good. larry, david, danielle, thank you very orange very much. really a great start to the show. coming up we're asking if this great worker resignation is real or a myth? this as the army is ready to hand out amazing, i mean, big bucks so you can be all you can be. let me tell you. it will be enticing. wait until you hear the number. fed officials saying all the right things but do you really believe them? i can't wait to ask donald luskin after the break.
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♪.
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charles: another busy day in washington, d.c. this is lael brainard's
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confirmation hearing. president biden is scrambling to catch up with covid-19. both have enormous political and economic implications. joining me trend macro ceo, don luskin. lael brainard assuming role as vice-chair. going into this stated top task for the fed was tackling inflation getting it back down to 2%. in the same breath she quickly added fed must sustain a inclusive recovery. take a listen, don. >> inflation is too high and working people around the country are concerned about how far their paychecks will go. our monetary policy is focused on getting inflation back down to 2% while sustaining a recovery that includes everyone. this is our most important task. charles: now, she, you know, i think, if you think about her, her background, some of the things she said today, it could mean the fed will be using some kind of new metrics to judge the
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economy to guide their future actions. what are your thought on this? >> well look, i'm all about using the word inclusive as part of monetary policy. it is in their official long-term planning document. talking about inclusive maximum employment. that's great but the fed can't deliver that. what the fed can do is get the hell out of the way, let the economy grow and grow and grow until everybody gets a job. now the fed also can't really do anything about inflation. the inflation we've got right now is because we locked the economy down in 2020, in a failed attempt to stop the virus. then we paid more not to work than to work. so when the economy opened up we didn't get the supply side of the economy working again. that is why we've got inflation. but the reason the fed has to pretend to take the blame for it now is because, of joe manchin. why do i say that? because he torpedoed "build back better" on the grounds that there was too much inflation. so all of sudden you're seeing
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something you never seen before in your life, democrats actually care about inflation. we all to pretend we care about inflation. charles: that makes me wonder, all the fed speakers are saying quote, unquote, the right thing. loretta messner, maybe she made a slip, right? she talked about it but was also pretty honest, frankly i would like to reduce it as fast as we can conditionally being disruptive to, not being dissing of financial markets. we'll be woke unless it hurts the billionaires. we'll look for a way for main street. seems to me when she says we can't let it disrupt financial markets, then you can't do your job? >> yeah. that was a choice of words but you know, i think what she is really saying, i hope what she is really saying, she is admitting the reality the only thing the fed can do to bring
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inflation down right now is cause a recession. that is not good for wall street. that is not good for main street. that is not good for markets. that is not good for democrats republicans anybody else. let's not cause recession. charles: talk about covid-19. white house is using military medical teams, fanning them all out. this thing is a mess. we're waiting for 500 million masks. here is my theory. i think the administration using the old democratic playbook, don't let a crisis go to waste, spent so much time of covid-19 as selling point, an emergency, president biden dropped the ball on some of things he should have been doing to prepare the public. it feels like we're all paying the price, don? >> my god. what a terrible case of overpromising. it is such a bad historical accident we happened to have a presidential election year in the middle of pandemic. we had a new president, promised a magic wand would take care of everything. that did not work. how will he walk that back?
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he is permanently in do something mode and if you're a democratic president of the united states do something, means spend more of other people's money. the good muse he is officially by polling the least approved of president in the history of approval polling at day 356 of his first term. so don't get the checkbook anymore. it will all work out just fine. charles: coming up on the midterms where more and more dems will distance themselves. donald luskin, always a pleasure. see you soon. >> thank you. charles: the worker strike has employees, employers getting creative, anything they can do to hire new folks, subsidizing pet care. wait until you hear what the army is doing. billionaire investors so bullish about bitcoin he put half his net worth into it. bitcoin educator natalie brunell will give us her take on that. she's next. ♪.
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♪. charles: cryptocurrency world still buzzing over reports that legendary investor bill miller is allocating half his net worth to cc and other related equities. getting hard to argue only dumb unsophisticated money on bitcoin. my next guest is anything but dumb and unsophisticated. with me bitcoin educator natalie brunnell. natalie, you're seeing someone, someone who crushed rivals in terms of stock picking, take half the winnings, place it on bitcoin what does it make you think? >> charles, happy new year. bitcoin is smart money, right? winners pick winners. someone like bill known for picking winners see bitcoin is an insurance policy against
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incompetence of central planning squeezing savers and fixed income through the secret tax of inflation. people like bill, they're seeing it buying into emerging technology everybody needs, nobody can stop and not everybody understands or bout in yet. it has the huge upside potential. think of it this way, bitcoin is pure technet work distributed around the world. no company, no ceo, it has the potential to suck money out of negative yielding bonds and gold to become a multitrillion dollar asset class. what a great pick. charles: absolutely amazing. miller buying stocks. i traded mrna, riot from time to time. i like it the way i play the volatility of bitcoin. hold on one second, natty. president biden is stepping out after meeting he had with fellow emdid the crass. listen to see if he swayed anyone. >> can you get this done? president biden: first of all you all ask questions about complicated subjects like can
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you get this done. i hope we can get this done. honest god answer is i don't know whether we can get this done. is this mic on? >> yeah. president biden: anyway. not sure either. hope we can get this done but i'm not sure. one thing for certain, one thing for certain, like every other major civil rights bill that came along if we miss the first time we can come back and try it a second time. we missed this time. we missed this time. the state legislative bodies continue to change the law not who can vote but who gets to count the vote, count the vote. count the vote. it is about election subversion, not just whether or not people get to vote. who counts the vote. that is this abought. that making it so different than
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anything else we done. i don't know if we can get it done, i know one thing as longs a i have a breath in me, as long as i'm in the white house, as long as i'm engaged at all i will fight the change the way these legislatures are moving. thank you. charles: president biden, coming out really, in really angry fighting spirit as you can hear there. i hope we get this done but acknowledging he does not know. admitting quote, we missed this time. then sort of refocusing the argument because sort of been based on predicated on this notion of voting rights and federal laws superseding state law. now he is saying no, about states changing laws who counts the votes and not necessarily who can vote. which means a whole lot of people will have to rewrite their scripts on this. really interesting. we'll talk a little more about this as the show goes on. i will bring natalie brunell. this dovetails to what you were talking about.
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western nations are in trouble. we've all got trillions and trillions in debt. we've all got aging folks and we got lower birth rates. it does feel like people sense, sense, not necessarily a massive collapse but somewhere prosperity has to be created out there. i think, maybe i'm wrong on this, but i think that is one of the main selling points for bitcoin? >> yeah, absolutely. we see this as fixing the broken money system we have based on money printing that disproportionately allocated capital to the people that need it the least and crushing the savers in our economy. so, i really believe bitcoin has so much power as a digital asset, digital savings technology, digital property. one we really need right now. as michael saylor pointed out before in the past, our money is a melting ice cube. melting faster than the 7% they're telling us. the dollar is our medium of exchange right now.
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easy transaction, everywhere. losing purchasing power over the years. we need to plug our money into something recharges it with monetary energy. that for the bitcoiners is the bitcoin network. it's a savings technology. we want people to increase the value of the money they worked so, so hard for. so they can you know, spend the fiat, save the bitcoin. charles: natalie, always a pleasure to have you on. thank you very much. >> thanks for having me. charles: i want to go to a fellow at the women independent's forum, kristin tate. kristin, talk to you about bitcoin, other things, real quick, i'm not sure if you had a chance to listen to president biden. pretty upset, went into this meeting with a last-ditch attempt to get a couple of senators we know were opposed to changing the filibuster. probably a few others who just don't want the public spotlight shined on them that much. just your thoughts. he is pretty upset. this sounds like a rally cry, maybe something for them to use going into the midterm elections? >> yeah.
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that's right, charles. i think what is really going on the democrats really want to federalize our voting rules in this country. they know they can't win on policy. this is how they're going to try to do it. i find it interesting that they say it is voter suppression to require i.d. at the polling place when they are now demanding that everyone show i.d. and vaccine passports to basically do anything or operate in any way, in any major city. so i think that is what is going on here. they're panicked. the poll numbers are in the garbage. this is a last-ditch attempt by the democrats try to scrounge together any support before the midterms. charles: no doubt president biden is starting to flail there a little bit. this coupled with the speech in atlanta earlier in the week, it is just not a good look. i want to ask you about major changes in the economy particularly in the labor market. many say it is all shaped by millenials and turn business on its head forever. in the fed "beige book," so many
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adjustment to lower workers. no meeting wednesday. i never heard of that. subsidizing pet care. self-care days, tell me what that is. four-day work weeks. these sound like groovy things but can we continue to grow the economy, can we have the strongest economy in the world and facilitate all those things long term? >> it is definitely not sustainable long term but i actually don't think some of these trends are bad for right now. i mean young people increasingly value work life balance to spend time with their family. i have a neighbor here in texas, works as a flight attendant. took one year off to spend because of covid and it was life-changing for her. she wants to go back part time. another friend works in gas and oil. powerful job. working from home three days a week. wants it to be permanent. there is growing realization that life is more than work, money and bills. will this continue apace into the future?
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probably not long term. right now the workers have all the leverage. i think it is good our society is starting to value work life balance. charles: i told people for 30 years, if i did run for president it would be on the four-day work week. we still have to get in 40 hours. later on tell me why no one wants a meeting on wednesday? is it because it is hump day? before then we stay on the same topic. the u.s. army handing out 50,000-dollar signing bonuses for certain new recruits. last year they gave bonuses to almost 17,000. averaged 14 grand. this is a staggering price the army will pay. here is what caught my attention i want to ask you. one official said we want to promote the value of serving your country first but we also know that this generation, i guess human nature you know, it is all about compensation too. was that a diss at your generation and sort of you know, not feeling an obligation to defend the nation? >> possibly. i mean i think covid has really gutted the military's ability to
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recruit in person. they're just trying to throw money at people thinking it will solve the problem. i think that will help a little bit but, charles, i think this is actually a much deeper problem. millenials and gen-z are not patriotic. only 35% of them, i couldn't believe this, 35% say they're proud to be american, according to couple recent polls. not that surprising, given our public education system tells the kids from a young age that america is evil and racist. how can you expect young americans to put their life on the line to defend a country they think is terrible? at the same time you have families who live in red states, military families who may not want their kids to sign up for the military because they perceive it as going woke. air force officers putting pronounce in bios now. it is ridiculous. the military has a much deeper problem on the hand instead of payouts or covid lockdowns. this is a deep problem.
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charles: kristin, been too long. happy new year. talk to you soon. >> happy new year, thanks for having me, charles. charles: inflation hitting new highs as biden's poll numbers hit new lows. the president is on capitol hill. i cannot wait to hear what leaks out from the meeting. obviously could not turn the fellow democrats. larry kudlow is lomb coming up. we'll discuss that. many feel like it's a make-or-break moment for the white house. ♪. at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. whether you've enjoyed the legendary terrain in telluride, the unparalleled landscape of park city or the famed peaks of whistler, you face the hassle of lugging your gear through the airport.
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edward. reporter: exactly. the white house is blaming global markets and covid, saying that everyone around the world is dealing with all of this inflation but a 40-year high of inflation is hurting basically every american and it also shows translating into the lowest approval ratings for president joe biden of his presidency. in the latest "quinnepiac poll" shows 33% people approve of the president's job that he is doing, a record low for this president in this poll. this could be the reason why. 70% of americans say that the state of the economy right now is not so good or poor. in fact, more than half believe the economy will get worse. these are dismal numbers. even when our own "fox business poll" showed that 84% of registered voters were concerned or very concerned about inflation you know, you have inflation at the highest numbers. we got 7, 7% year-over-year inflation. as you know, your viewers know, inflation pressures continue on
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companies as input costs soar. producer price index up 9.7% year-over-year. that is the increase companies are generally feeling when they make products. some of that is passed on to the customer. so you have the white house blaming covid on global issues including shutdowns on plants in china as well as other things but you have americans blaming the white house and the president for these inflation numbers. back to you. charles: i think he is feeling the heat. edward, thank you very much. folks we have some breaking news for you out of the supreme court. justices there have blocked president biden's vaccine mandate. they did leave a carveout though for health care workers, a huge blow again to part of the president's main objective and his agenda here. with me in studio, go to our guests, larry kudlow, host of "kudlow" live. let me get your thoughts. here is the thing. had lower court rulings being,
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writing was on the wall. a lot of people already lost their jobs. a lot of people had setbacks in their careers. a lot of local economies have been hurt by this thing. >> it was a stupid idea to begin with. it was imperial, regulatory overreach and they should have known better. so i have no sympathy. you're right, some damage has been done. that is most regrettable. perhaps these businesses will now abide by it or move back or stop hammering their own workforce. you have a shortage of workers because of this. probably the bigger issue right now is they lose on this business mandate, they are about to lose today on the filibuster which will take out the so-called election bill, which is to nationalize elections. the bbb, save america, kill the bill, that bill is dead. he is losing, his entire
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domestic agenda is in shambles. his presidency is in shambles right now. the opinion polls reflect that and if all that weren't bad enough, because of past mistakes over this past year on spending and fed money printing the inflation rate is sky-high. it will take its toll, charles. as you well know it will take its toll on the economy t will have a second round when the federal reserve finally gets around to tightening that may take a while. so these are all very bad omens. his presidency is unraveling. that is the best way i can put it. charles: to that point, as you were heading to the studio president biden came out of the meeting with his fellow democratic senators, he was livid, livid, upset. he went off and, said listen they will keep trying. he reframed the debate now. he is saying it is not debate who can vote but who gets to count the votes. that is what they're going to be counting. feels like act of desperation.
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i looked at today, that speech he gave in atlanta which was extraordinarily insulting. >> insulting. insulting. charles: we have the midterms coming up. >> did you see what senator scott had to say about that? charles: i did not. what did he have to say. >> he blasted it yesterday, tom scott, i call him the blackjack chem. charles: he is. >> i interviewed him one time. charles: tim. >> 35 minutes. i kidded presidential length interview but senator scott was furious at language, innuendoes, reverse racism always endemic what biden does. charles: i tell you what i hate, every time democrats speak in general, specifically president biden in black audiences about fear, looking in the rear view mirror. one thing i talk about the future. metaverse. i talk about things that will change humankind, mankind, larry. it's a different world. you have to have different skillsets. you have to believe you can be a
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part of it. if my president is always telling me the only thing i need to worry about issues we've been fighting, beating, winning for 50 or 60 years, what are they doing to our kids? it hurts me every time i open his mouth. some black kids see that will feel dejected and rejected by the very country they should love. >> you believe in opportunity. you believe in hard work and climbing the ladders of success. biden and his crowd believes in racial divisions and blame game. charles: that is all for their power though. although do is keep power. the things that he, they try to get done -- >> it's a loser. charles: they did nothing, zero for the black community. nothing. think about the agenda. the education, you know, it, here is the thing that really, really bugs me at some point it has got to stop working. at some point we have to reject this, at some point we have to acknowledge how far we've come in how short of a time we come.
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we're a fraction of the age of these european nations. i would not want to be a black person in france over america, in england over america, in germany over america, i wouldn't want to be a black person anywhere in the world other than america. where i want to be black first and foremost. look how much we've done in a short period of time. >> i'm glad you're a person here and you're my friend because of your great beliefs of opportunity. the biden crowd is all about critical race theory and woke social theory. but what it is, charles, it division. charles: right. >> it is blame. charles: right. >> victimization. those are the worst things imaginable under the sun. but look it, calvary will come for the midterm elections. you will see a major overhaul. gop wins house and senate. charles: do you think it will be a bigger loss than obama, shellacking 2.0? >> it will be like obama in 2010
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and bill clinton in 1994. biden, here is another thing politically, you ask yourself, you look at the polls, you look how unpopular he is, you look at the failure of these programs. the country beating the programs, okay? why don't they listen and change? now bill clinton -- charles: bill clinton did. he pivoted. >> era of big government is over. charles: he don't think president biden will. >> he doesn't have it. the doesn't have the intellectual firepower. doesn't have a political firepower. he has a bunch of dumb bunnies on the senior staff screaming at him. charles: they're screaming at me. watch larry every day at 4:00 p.m. we'll be right back. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. superpowers from a spider bite?
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♪ charles: so by now you all heard about the great resignation. now there is actually an effort out there to say it is all a myth. for instance, while the we saw the eye-popping jolts number where record shattering four 1/2 million people quit, every sector had more hires than quits that month. interesting way to look at it, the reason wages are surging because there are some vacancies. small businesses, record amount of companies are paying money
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and record number of small business owners can't find qualified people. it is a real thing. joining me rebecca walser. rebecca, this workers strike resignation thing is it a myth or real? >> according to the bureau of labor statistics it is real. we had 4.2 in september, 4.2 in october, 4.2 million in november. we don't have december's yet. if you say 4, 4 1/2 per month that is almost 20 million jobs since september people have exited. i don't know if there is not hires on the other end. if we look at the statistics we see the bureau of labor statistics is saying just under 156 million workers at end of december of last year. charles: here's the thing, particularly look at the small business nfib data, i'm concerned, i want to know your thoughts on the workforce where wages are going up tremendously and in fact for a lot of jobs where people don't, need greater skills but don't have them,
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right? people are getting paid big-time races, bonuses, pet insurance, things like that, but they don't feel the need to have to skill up. i think that is a trap for this country. >> charles, 100%. you've got year-over-year retail inflation, consumer price inflation at 7% which doesn't include food or energy as we know. yet, so you might have the best raise in the world. i think average was four 1/2, 4.5, 6% went up year-over-year real wage growth. that is compared to 7% year-over-year price increase of all the goods and services. it is really a wage loss if you consider inflation. charles: right. >> people still need to keep their skillset fresh and froing, always. charles: the other side to this business applications. i think this is a phenomenal story. really the highest annual total ever, last year, 53% higher than prepandemic numbers. what does this tell you about at least people, the initiative right there, the american ethos,
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pulling yourself up by the bootstraps. i think this is a good news story. >> i think it is, charles. it is more and more what we need to hear. i just have to squeeze in, i'm so glad to hear the news that just came out. means which still have a constitution respected by the supreme court. we still have freedoms. we still have individual autonomy. you know what? i'm so ready for us to say, hey, how can we come together and as a nation move forward, even if we have to live with coronavirus for the rest of our lifetime, how can we come together as a country now? stop pointing blame, this group, that group, come together, make america what it is which is the opportunity i heard you on your last segment with larry. the opportunity of the world. people just can't forget that. charles: we had it for a split second, right? had a whole lot of bipartisan action, it was swift, impactful, unraveled. great to talk to you. thank you very much. >> thanks, charles. charles: folks, we'll be right
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budget? call humana now at the number on your screen for this free guide! it's just one of the ways that humana is making healthcare simpler. and when you call, a knowledgeable licensed agent-producer can answer any questions you have, and help you choose the plan that's right for you. the call is free and there's no obligation. you know medicare won't cover all your medical costs. so call now, and see why a medicare supplement plan from a company like humana just might be the answer. charles: it's back. that's right. earnings season is upon us. i know sometimes it seems like it never goes away. i will say this could be the most important in a long time now. there's an obvious relationship between this market rally and strong earnings that we've seen, but take a look at this chart because earnings growth is sort of stalled plateaus even as the market has gone higher and really what that means is we'll need to have a very strong earnings season or maybe the market will have to pullback to get back in line.
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i want to bring in eddie ghabore , along with keith fitz-gerald. guidance has been less bullish than it was in the third quarter what are you expecting? >> look i think earnings are going to be just okay. they are going to be good. companies are still going to be profitable during this economic slow down that we are telling our clients that we're expecting , but to your point, we believe the rate of change is going to be decelerating in regards to earnings growth, so the markets going to have to re price that so if we get a surprise to the upside, we're going to continue to reduce risk and higher beta plays to play defense because the market we believe is going to reset and that be the time that we would pounce. charles: kb homes they reported the stock is surging even the lumber prices have gone through the roof and we have bank earnings tomorrow slated. so let me get your thoughts, keith. i don't know if we've ever talked home builders before, and also i want you to handicap these banks like which one will you own before the release in the morning? >> well let's tackle home
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builders first. i think that the markets are going to relax as interest rates rise that's going to compress margins so i'm not a fan of the home builders themselves, i'm a fan of homeowners going to places like costco which i own because they buy lots of stuff to put in the homes they own, and as for the banks i think there's no clear winner beyond jpmorgan, which again, i also own and i'm expecting to knock the leather off the ball kind of numbers when it reports. charles: eddie you got bank stocks, you like any before they report tomorrow or for the next week? >> look i agree with keith in regards to best of breed, because i actually think the 10 year is going to be dropping over the next six months because of the slow down, so i'm not consensus there so i would not be buying financials here. charles: a lot of bottom fishing going on, people sifting through some of the high-tech names that have gotten slammed. also china looks like it's coming back in focus. eddie are you a buyer of these chinese tech stocks? >> we actually did start adding china etf to our portfolio that
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we manage for our clients back toward the end of december, because of the correction that they've gone through. i hate to admit this but i think over the next six months their market looks a little bit better than ours, so we're starting to become a little bit bullish there, because we think their market is bottoming because they have gone through the correction and so we think we can make nice money for that trade in the next six months. charles: keith one of the things of course is that president xi hit their market and he has the ability to maybe flip the switch and turn it right backup so are you a buyer? >> i tell you what. the time is coming where i'm going to go back to china but respectfully i'm going to take the other side of eddie's coin. i spent a lot of time in china, i don't think they are done but i'd rather buy because of china with companies like apple for example, or jap are doing lots of business there, than in mainland china but again to eddie's point the time is coming , i think there's good numbers on the table potentially charles: gentlemen, thank you both very much. i wish with ehad more time but i had an amazing conversation with larry kudlow and you know he and i get together we can
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just chat all day long and a lot of breaking news but you are two of the best i hope people were taking notes in the meantime the market mostly sideways we didn't get a cp effect but there's amazing amazing things going on in this country, in this market in this economy. that's where we'll go to lauren simonetti now in for liz claman, to take you through this next hour. lauren i think is going to be eventful. lauren: there could be an ls effect and i agree with you, and we'll take it from here , charles thank you, good to see you. here we go, the tech train certainly losing steam right now , as the nasdaq, yup, it is on pace to snap a three-day winning streak, let's check the s&p and the dow all three are moving lower but the dow just barely, we're going to preview earnings season with our floor show traders in just a bit fly me to the moon literally youtube star and crypto investor carl roomfeldt predicting, get this , a 600% rise for bitcoin this year, he's going to talk

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