The Record-Setting Rally 12/5/24
44:12 Share

In the some lake valley lies an american success story.

The more success is here, the more .

success that comes .

drivers by money, power and faith.

And you have to break. And i've had to .

do a lot of that once a destination for powerful ouse, now of money making powerhouse cities of success. Salt lake. Miss C N B C serious X M one twelve i'm .

scot walter, and you're listening to C N B C S halftime report, the podcast, the most profitable hour of the trading day. We record this live weekdays at twelve eastern. Listen in.

Our Michael, thanks so much. Welcome to that time before i'm scot, walked the front center of this out the record setting rally. We will ask the committee how best to position now as they make new moves in the market.

Joining me for the hour today, josh Brown is Young Thomas and bill brook. We will check the markets. We do have a bit of a mixed picture today, not much on either direction, on either side, but we are focused on round numbers.

Forty five thousand in the first closing for the doubt ever yesterday. Bitcoin, one hundred thousand for the first time ever. A this text first record, closed in almost a month. What stands out to you today as you watch these markets?

Yeah I mean, look, today is not that exciting of a day. But the run that we've obviously had since the election, people are calling IT a pro signal rally. We're talking a lot about snicks.

But if you look at actually the sicily ratios are kind of mixed. And really, the stuff that's benefit is everything that would benefit from deregulation. I think the sentiment coming into this was decently strong, got more fuel from post election rally, a excitement.

And now we're heading into a new year, obviously, heading into the holiday season. I think this could not keep going for a while. But as I work on my twenty, twenty five outlook that'll come out next week, really the expectations, I think for twenty, twenty five are more muted across the board from all strategists. You're looking at average issue returns in the index and then above average earnings growth, which actually mathematically could lower the multiple throughout the year. So maybe we don't get as overly exubera ant as people fear.

Well, I mean, I still am getting targets like you know Chris harvey, seven thousand and seven. So I mean that's like a fifteen percent of that but there some seven thousand targets out there too. He's is not on an island, josh, your current view and you know again, forty five k on the doubt, liz said this can keep going for a while. That feels like the prevAiling thought from everybody that I .

talk to yeah or even if the even the people that like, well, maybe we should be cautious okay, how causes you get in what you sell? L recently, nobody wants nobody once get off the ride. When the ride feels the way that IT does comes to an end. At some point it's not profound to say that everybody gets that. Nobody knows the timing.

Big picture, if you miss this rally, it's not because you didn't know who we would win the election and a lot of people are dismissing or they want to put an asteroid k on the run that we've had since the bottom August all the way up until now. And they want to say, oh, it's the trump up. No, IT isn't.

It's because earnings expectations were too low for the quarter that was just announced. Yes, there is a sentiment bomb, but there is a fundamental bump and a lot of people just warrant up beat enough. I want to walking through a couple of reasons why people miss this valley.

First things first, profits for us in p five hundred companies. Now that we got sales force, we ve got to all the companies that matter, nine percent growth in own's year over year for this quarter. For more importantly, four hundred eighty one basis points Better than the expectations for this quarter as recently as september.

So that was the big catch, up seventy five percent or greater. S M, P, five hundred companies beat expectations, the average seventy seven. So right where you should be cells were up five point seven percent two.

So you can't shock that up to byblos or financial engineering revenues were Better than expected. And the last thing I would say is that it's very widespread. Eight of eleven sectors had earnings growth this quarter.

It's not quote on quote all tag all max seven seven. So this is the climate where you get a situation like we're in right now. People just upbeat enough about current quarter earnings.

And not only did they have have to catch up with upgrades of the stocks, they had to rethink the estimates for q 1。 And that's what we're benefiting from right now. It's not Sunny cause it's not trump bump its fundamentals and people just want IT ready .

for the and the fundamentals around big tech. They are being honed in on once again, as as I said, we have the first record close in almost a month. Apple, amazon, meta all record closing highs.

The I G V software etf, a closing high. IT leads me to move that you've made around this resurgence in tech, which is what we've call yesterday. You bought more meta and you bought more apple. why?

Yes, only the week as this things breaking out. I want to take a step back and and look at this. What's happened before the NASA broke out a couple of yesterday, really, officially, the S.

P was of six percent above its july high. The next one hundred was not above the july high at all. In fact, they had a very, very constructive technology landscape.

There was a trend going back to the August low. IT built in a sending triangle, and IT was breaking out above. That is a very bullish ed technical pattern.

And then the names themselves, apple and meta and the amazon, the phonic dominos, are now all now setting record size as the nazis empowering this thing. Now you look across the landscape, these stops have not performed, and everybody is focusing on cycles. But you have to be ahead of the robot. And this rotation has been happening for about we can to have now, and it's really kicking .

in the is helping the performance certainly since the election. Amazon's of ten percent, apple eight and half percent, microsoft is seven. And then consequently, you have gains, but they tail off a little bit.

Newbies for you play into the software theme, as we've showed you, you know, the last six months of a good story, I G V versus s image outperformance of software relatives to chips. You take advantage of that, thinking that the momentum, I suppose, is gonna. Ue, there, there is the chart. Oracle and workday are both new newbie for you.

Yes, I think work days really they have under perform the market, they're really shifting. And I think big focus on profitability. The margins were hundred basis points above expectations, though their current guidance for the over the guidance for the current quarter was a little below expectations.

I think IT sets the table for some of performance here. And I don't want to get diamond to A I here. But you know the software that they're information with through H R.

And through our companies, they could be a big beneficial A I down the road, could be something we hear next year. And then oracle, we've oed and I made a rotation out of oracle back in september. We moved the more to name owens corning, which has done well. I want to get back into oracle here looking at at what sales force was I was able to accomplish and you know historical valuation of oracle. I think it's underappreciated right now because it's looking back at what is done in the past, and IT needs to be bumped up to fall into what it's going to .

do in the future. You ve got history with the oracle.

Yes, I saw that early. That's mine. My history is I I knew I was a buy and I underestimated the degree to which there would be growth in the cloud and they would capitalize on IT. And so this is a name I bought under one hundred and i'm embarassed to say soul that wait too soon, but i've watch bill take the right higher and at least somebody y's making money.

Ubs says tech plus is going to lead again in twenty twenty five. And there were many people try to not write the sector off, but at least downgrade their own expectations about what IT could do. IT wasn't going to trade as a monitor.

That may be that may be factual. You may have dispersion between the the games of some of these stocks, but the fact is that firms are coming out now and saying the tech is going to lead yet again. Don't write IT off and go for this big outperformance from the broadening trade or the equal weight trade or however you want to characterize IT. Do you agree?

Well, first of all, I assume that most people have an allocation at least to the mag seven and detect just given how big of a waited is in the index. So then the real question becomes, do you want to stay overweight? Do you want to become overweight if you're not? I think the answer to that is no.

You don't want to become overweary if you're not at these levels. But here's the thing about tech. IT is not a monolithic.

If you split IT up just into semis and software, I think in twenty twenty five, software will continue to have a lot of opportunity. The earnings growth in tech is still expected to lead the pack in the sep. So we're looking at twenty three percent for the sector versus the S M.

P. Fifteen percent for the year. But some of the earnings downgrades that have happens at or at least the revisions downward, they've been more dramatic and semi than they have in software. And I think software is for a catch up trade in performance, not to mention if capex continues into twenty twenty five, if companies have more available for capex. S, I think some of IT can and will get directed to software and not so much to AI because there's criticism around how much everybody y's spending on A I testers .

market cap worth showing you. It's back above a trillion in new fifty two eko to day stocks, up forty percent since the election. Will do a tesla uber paris conversation because both structure on the move but build on what your take on on tesla as IT had this incredible run and B, A, A says it's going to continue to grow in twenty, twenty five and beyond. Price target, they bump up to four hundred dollars now from three fifty.

I mean, this has been a name we've leaned into since the very start of july and really called in our second half of the year play, and it's done a lot more than we've expected. Obviously, elon mosque is a line himself with the incoming administration and president dropped and that's gonna enter IT regulations and and things that are are going to be a tAilin here. But we've still for test itself.

I want to talk about position management. It's become a big position in our portfolio and we've tried to trade IT A A little bit, manage a little bit. And why did down to keep IT outside the top five? Because it's going to be a vital named and trade like a commodity and think we have to treat like that.

Yeah, uber, I said, shares her down today on news. That way most is going to expand into miami. We worried about this.

Are you actually don't think that's the reason why the stock is down? There is an ftc supposedly an ftc investigation about whether or not it's too difficult for users to cancel their uber one description. The company has responded to that news, saying that the average subscription cancellation is twenty seconds.

One of the big things that the bite and administration wanted to get done, while that was the administration in power, was this kind of click to cancel idea to help people with things they have subscriptions to that they didn't want to be stuck with. And I just look like this is one more inquiry into another company over the last couple years. Every time you've sold on some sort of a regulatory action headline related to uber, it's been the wrong decision.

Stock has made you feel foolish after I don't that's going to be any different this time around with regard to way mo, uber is wae mos partner in multiple cities. I think that's a trend that will continue. I think ultimately, what the consumer wants is not five different right hAiling apps on their phone.

I think they like the option of when they want to take a way mo. It's there. If there is no way more available on the same map, they can find a human driver. That will probably be the status quote for the next ten years. And that's why I think that's a non event, so to speak, for uber.

you mentioned regulatory actions and headlines and and there have been a plethora of those under the by administration. We've talked about IT from stock to stock to stock. I just want to focus on amazon for a second.

The stocks at a record high I know you added to with the other day um jeff baths will always be identified visibly with amazon even though he doesn't run the place anymore but he did speak to Andrew sorkin yesterday deal book. I thought the comments were very interesting about his outlook for trump. Two point. Oh, I wanted to listen.

If we're talking about trump, I think it's very interesting.

I'm actually very optimistic this time around that we're going to see i'm very hopeful about this. His he seems have a lot of energy around reducing regulation. And my point of view, if I can help them do that, i'm going to help them.

right? So these baths is very optimistic. He says you have to take on this, I think thought is interesting. Number one, you don't hear bazell talk publicly often. He's rarely puts himself in position for an interview um like this, but what do you make up what he said?

I take a matters word. I heard carrs wish last night say, well, jeff just want to space contract and not a cynical as he is. I think that BIOS is looking at the state of regulation and how many regulations there are and all of the things that could potentially get done if if the trumpet administration truly wants to a pursue that idea, construct timely seon ic vessels is just like saying what he has to say for blue origin.

I'm a shareholder and amazon and I don't think the the market appreciates fully the rerating let's taking place here. The stock is not rallying on the verbal conference. The stock is rallying because a day before they had the reinvent conference for AWS and two things came out of that.

Number one, this company is now a serious player in GPU. The training um chipped and the training um chip ecosystem and training of three, which will come out next year. These are highly competitive with each one hundreds, and that's what the market likes to see.

They actually brought apple's head of the AI and machine learning out on stage at an amazon event to to promote the train dim chip. The second thing is they shocked everybody by releasing a foundation tional large language model. This is not something people had in their bingo card for amazon in twenty twenty five.

So now there are six foundational models or performing at high levels loaded to the benchmark. You've got ChatGPT, you've got laudes on IT. You've got the rest and you've got one from amazon. That's why the stock just went two or two to two thousand thousand. And in my opinion, on the way to two fifty, and if we get some deregulation as like a Cherry on top, nobody's have complained .

that attack has felt under ably, under pressure and under attack under the current administration trying to gage. Now what trump two point o is, is going to mean for the space barren yesterday, says trumps anti trust pic spells trouble for alphabet, google and other tech behemoths the president elect himself on the truth social post yesterday and please to nominate gills latters, the assistant attorney general for anti trust that at the dog big tech has run wild for years, sifting competition in innovative sector and as we all know, using its market power to crack down on the rights of so many americans. And he goes on to finish that sentiment.

But it's no wonder that you have had a line either on the phone or, as we said, at the gates of malloc, go trying to um get in front of the president elect. IT was syndromes A I remember he called the president elect after the election. Mark october went to my logo head dinner. Tim cooks tried to develop his own relationship with the president, then president, now president elect. Once again, i'm wondering how we're thinking about what regulatory headwinds could be existing in this particular administration versus the current and maybe the last I mean.

the markets gona take a while to od digest this. But even if you just look across the single names, there's not that negative of a reaction even to this news right now. I think it's going to take a lot more than something like that to throw investors off of this trend.

I would expect the first half of twenty twenty five to bring with IT a lot of back and forth and and a lot of of two steps forward. One step back in the sense of, okay, this policy got enacted maybe not as much as we thought IT did. There's going to be volatility. And this is gonna a really tough environment to choose single names as either the winners or the losers. If you're doing IT based on policy decisions, the reality is or not really gna know the policies until probably mid a year at best on some of this regulatory stuff and the pressure that CEO are probably going to put on the administration, you can't underestimate that.

Well, one thing that certainly gotten to boost on the expected more friendly atmosphere, environment, lowering of regulation, certainly bitcoin, we can show a hundred k first time ever. I think it's still hanging out. It's right there.

One hundred thousand seven hundred welfare search today says it's overboard, but it's far from over. I think that's a point well made standard charter today, a road map beyond one hundred thousand and two hundred thousand and twenty twenty five, the block Price target goes up today. These are all crypt to related plays. If you looked at every stock with in that universe today, microstrip gy is front and center. Certainly their coin base, these other names is Robin hood, are all are getting a lift, which your exposure look like right now.

I mean, I do, on a commodity fund known as A C T. A, and we use futures and commodities, and i'm leaning into this break out. There was a beautiful little pending in bitcoin over the last few days.

The last couple of weeks, really, and IT broke out of that pendent leading into call exposure and how a managing leverage in that. As for wealth portfolios, we own one personal allocation, I B, I T. I do want to increase that personally on leaning into calls as well in I bit in the coin futures. I think this is that break out. And I I think we in when this next little push up, maybe one hundred twenty thousand could be tested.

All right, it's been a big move. And our next guest today, our half time headliner, literally writing the book on bit point anthy scared moches, the founding managing partner of skype, is capital, the author of a little book of bit going what you need to know, that wall street has already figured out to? Good to see you.

Congrats on this new book. Thanks, scot. I mean, what what an amazing time. What an amazing time to not only have the book, but for us to have you, what do you think this moment? significance?

One hundred thousand more? Yeah, yeah. Well, I think it's a obviously, it's a big moment, but I think it's really just the beginning.

And you've had me on before and I ve had my ups and downs the going we started buying IT in october two thousand, and at seventeen I went to sixty nine thousand. And then unfortunately, they can went back down to fifteen thousand. And so i've been a hero .

and a go .

in bitcoin over the year. Hold on, our our clients have benefit their five to one, six to one on our bitcoin basis depending on IT every point. But I I really do see this as an asset class that I think that was the point of the book.

And I was very happy to get Michael cell or right to forward, although he did yellow me, maybe change the last chapter of the books scope because I I was recommending in the back of the book a two percent allocation. And Michael said to me, will you have fifty other ideas as good as this? I said, I don't.

He said, well, okay, well then you have to rewrite the last chapter just implying that people could started to one or two, but they could think more broadly in. And I think that's where we are right now. If it's an assi class, IT will trade to eighteen trillion dollars where gold is. It's probably at two trillion right now, at one hundred thousand a number. So so I think I think it's sort the .

beginning sailors trying to write his own chapter, obviously in his company's place. In all of this, you feel like we're at an inflection point. again. Another one as a relates to the new administration. What is widely expected to be much more friendly in, quote, a few wheel towards this asset class that you suggested is.

yeah, I think this was a fundamental failure by the democrats. Actually, they they had the same opportunity that the republicans did. They took for granted the crypto to investors.

They took for granted the lobbying around crypto. I think fair shake, I think so you probably looked this. I know you ve written about a fair shake one forty eight, eight and forty eight election.

They put their money up. They not shared Brown out of his seat. He was ahead of the senate banking committee. Ah and so I think the president trump, who I saw speaker at the bitcoin conference last july, is putting a row bitcoin team in place is the goverment of percent and actions and others uh and I think it's good for america.

I I you know a jone pal said yesterday that ends deal book that this was a competitive goal is unnecessary a computer, the U. S. dollar.

And I think we think about IT that way the american government can get very comfortable with bitcoin as being part of a portfolio acid allocation strategy. Um again, the dollar will remain supreme. We do need stable coin legislation in the next congressional term.

I think that will help the whole industry. And just remind people, there are stable coins like tether and circle that own huge sas of U. S. treasures. I think tethered right now.

I should sell the question. So a book party this week, uh, barrier also was there. Michael sale is there. And just curious, you're watching what this guy is building. He's got a hundred billion dollars.

Cat, have you ever thought along the way what if sky bridge builds a bit coin reserve? Like what would that mean to the people that are already invested with sky bridge, people that have clients on the platform? You almost could have like beat him to the punch because you sort of were the first hedge fund platform to incorporate these assets in a traditional finance setting like you yeah did this before anybody .

I I appreciate I took my lumps for doing that and some of the wire I was yelled at me for doing IT. But I think clients have stayed with thus had been rewarded. And we sort of have had a sellar strategy, Frankly, not allowed to talk about our performance, but just figure these numbers of biko with seventeen thousand.

And I bought IT and it's one hundred thousand today. We had a forty percent position in bitcoin. You can imagine we're doing very well.

You are a well. And so the reason why Michael and iron cloth is that we see the things the same way. And we do have a bitcoin standard at sky bridge, where we have a ton of our baLanced in bitcoin.

And we were the first or maybe among the top ten first companies to go into fidelity, josh, and have our R R S, but enable the bitcoin so you can buy up to five percent bitcoin in your. Retirement portfolio at sky bridge. Uh and so yeah, we put a listen, we had to adapt to vid our business.

I've been i've been on the air where i've taken blows. We ve got hit very hard in march of two thousand and twenty. We were in a lot of structure credit then had the worst year of my life and I think twelve trading days in the month of march of two thousand twenty.

And we had we had to pivot ourselves. And so we made the decision and think that it's working now. But me like you, jack, i've been humbled by life and market. So i'm knocking on ward and hoping things continue in the trajectory that they think that we think that you have.

You have such great perspective on IT because you've literally lived through the turbulence of the growing up of this asset. You have you've seen the scammers, the shysters, the phonies, the fragments ers in many respects. And here we find ourselves on what is a major milestones.

I was six would force when I made my first big bus look at me now. But.

you know, i'm saying, I mean, you've seen IT from such a close level. Have we fully grown up yet? Are we still in danger of some of that nonsense that took place? I think we've growing up.

but I think we have we have to be objective about me by the key. He saw quickly that this is an industry that the united states needs to be in. If you want to make your mental financial services leadership, you got to get the regulation right in this industry.

But I will say something of a gary again. So people would not expect me to say he actually helped the industry. Perhaps IT was accidental when he didn't approve the spot cash bitcoin etf right after the futures etf was approved. Um he probably .

helped the industry.

And so the future futures were proved of every or twenty one the expectation persuing of the law was at the cash would have been approved in the first quarter of twenty two. He blocked and deleted. He lost the lawsuit subsequently.

But I think that exposed all of those griffith and some of the fraud d stars and lots of leverage. You know IT wiped out three or four big companies. A took out through bankrupcy things like black five settle up. So weirdly, he helped the industry because he cleaned out a lot of the drugs in the industry, if you will. And so now when he eventually got a prove that you people in like fidelity and black rock is sort of solidified the institutional story.

Sky is the message that, you know, the individual investor who is going to pick this book up, and they see one hundred k and if they are in IT already at levels even close to you, they feel tremendously great. If they're not, they're wondering whether it's too late. Um they read the book and your message seems to be it's not too late that there is going to be not maybe a straight line higher. But nonetheless, you're as optimistic today as you .

have been in the park. Look as a high voltage las as said, except for lots of corrections. But I think the message is if this is an asset class in a digital economy, is this digital gold or Michael seller says digital property? We think the answer is yes.

We tell a lot of stories in this book about how different people came to big coin. Uh, what I would say to everybody here, as if you do the research on big coin, you go towards big coin. These are people like paul toter Jones or Stanley drug a miler.

I know very few people that i've done the homework got and then say, i'll know bitcoins, not for me. And I do think it'll be part of a long term tactical asset allegation strategy, meaning portfolios will have one, two, three, four percent in bitcoin. And so yes, IT is early.

And if IT is an asset class, there's probably ten years ago in bitcoin and he had a one be even, and I won't happen immediately. But I think over the next five to ten years, we can see that. Certainly.

I me we're talking about alternatives all the time and and people certainly think that this should be part of the whatever crypto strategy you have should be part. Congrats again. It's a little book of bit coin and they scare muc. Thank here to help make sense .

of IT on a day where we have a humains. Orange Scott, may you pick? Well.

that's Anthony joining us here. Angela ka pivois now has a newsletter.

t force I ela, hi Scott. Ah access is reporting that last night at morocco's CEO of fizz, lilly and the head of the industries s group dined with president electrum and also his H H. S. Secretary nominee, Robert of Kennedy junior. Now we've reached out to the companies because axiom is citing people familiar with the matter.

Lilly, declining to comment, will let you know if we hear back from fisa, but I will know that yesterday at the deal book summer, lilly was as specifically about r of k junior and dave rick k said that, you know, he said some things that they would call the anti science, but he's also talked about things that are pro health. And so lilly is very interested in making the argument that they too are pro health. And so he is interested to work with the administration and will let you know if we hear anything else.

Guys, right? Thanks so much for the update and gel people. Thank you coming up will do our calls at the day and later, josh Brown is updating his best stocks in the market list. He is bagging three under the rate our names that are about to break out or are currently doing just that, the names are coming up next.

Once a destination for powerhouse, now of buying making powerhouse SE, driven by money, power and faith cities of success saw leg city premier tenison C, B, C elf.

Student calls of the day now toast cut to neutral was IT by at da David's and they take the Price target down to thirty eight from forty four. See it's a from forty, forty, thirty eight. You see it's sitting at thirty eight. What you take here as as you the stock is down thirteen percent this month and here we are just quite five days .

in yeah IT is one of my biggest winners um of twenty twenty four obvious I like a Better at forty three than I do with thirty eight but I have a trAiling stop in here. I I don't know if I get head or not, but I understand I understand the the cut the stock is gone crazy. If you look at where this thing was trading in september twenty box.

So IT doubled and I get the idea of locking in something that the analyst was right about. I don't trade that way, not really listening to this. But if I end up still a little because it's breaking down.

all right, evy overweg to call today at Morgan Stanley. What do we think bilborough? It's down thirteen percent since the election that we have a lot of focus on. A health care to ask is about that the second, but you're take on they .

did make an acquisition for a drug that did not do well, that took IT down. But I want to focus on the sky racy in rainbow and even the revenues we've got from humana. I think that really lays the ground work for the stack to continue to do really well.

The legacy he, maris done well and the revenues that we've seen from from these are becoming ones have beat. We like the name. In fact, we use the sell up as a little opportunity to increase our exposure. And I think it's will take time though, but it's going to be a little bit headwind for the administration as well. And the questions that, that will resort as we discuss earlier about the first half of the .

year is what about this space? I think you heard and jellia with the update as a relates to you some of the vaccine p related companies, farmers, stocks that should Better say what you're take here.

I mean, I think there's a lot of bad news baked into the sector already. And sometimes when there's so much bad baked in, it's it's time to think about stepping in. So if we get into twenty twenty five in some of these policies that are anti health care don't come to fruition, you could see what would be considered a repricing back upward.

The other thing is that I want people to keep in mind earnings growth and health care. We're talking about fundamentals leading what stocks do. Earnings growth and health care is expected to be pretty good in twenty five.

In fact, the second best sector in the index. So keep that in mind, and you also want to keep in mind if people are looking for other options to find growth. Health care is one of those spaces in pharma, biotech, although maybe more further down the capture camera.

Better health way to day target goes to five ten from four seventy. Reiterated by at argus, we believe that some of the three hundred twenty five billion dollar cash hord will venture, be used to invest in a distress situation, either an industry or individual company. What do you think of that?

I think it'll be exciting to see that happen because what we've been watching is this company effectively building up what looks like a central bank's worth of reserves. I understand that mr. Buffet is in his nineties and not necessarily eager necessarily to do something, but IT remains to be seen if the team, you know, comes to him with something that's worth doing.

IT takes a lot to move the middle here at picture now. So even if they did like a five billion dollar investment in a new company and people are surprised about IT for one day, it's not really going to make a difference to the share Price and broke. It's very unlikely that there's going to be another position that could become as largest apple. So if you're long the name you should be long at because it's a great insurance company with a lot of industrial assets. You should not belong to stop because you think they're about pull off some sort of like trade of the century.

all right down to you has a newser alert force on boeing. What do we know? Dumb right? What we have our headlines right now that the us.

Court in the northern district of texas has rejected a please agreement between boeing in the case there involving a again, the 737IT says right now that the court has ordered boeing and the U。 S. Justice department to provide the court within update on how they planned to proceed in this case no later than thirty days from now.

Those particular headlines with regard to that case between the D O J and the settlement with boeing driving a little bit of the sheer prize down, you can see in boeing shares just taking a slightly g lower premier or in midday trading, Scott, so will keep a close side on this, but those are the headlines, all some things back over to you guys. So I don't appreciate you. Thanks down to just get the headlines now with the stepper.

He's got M. A, C. International set today has found evidence that israel has committed genocide against palestinians. It's the latest in a string of allegations by human rights groups against israel over the war in gaza, and israeli military spokesman says the reports claims are, quote, entirely baseless. The biden administration is considering new rules that would require airlines to pay passengers for long delays within a Carrier's control. The proposed standards would offered a tear compensation scale, including up to three hundred dollars for at least of three hour delay and up to seven hundred and seventy five dollars for delays of at least nine hours. The department of transportation says more than sixty percent of three hour plus lays last year where, quote, airline caused, and Taylor swifts eras tour book selling more than eight hundred thousand copies over the thanksgiving weekend, even though IT was only available exclusively through target, the only bigger nonfiction book launch was a promised land, the first volume of president obama's memoirs, but that was available through all major outlets. Scot Taylor swift, year just keeps on continuing.

Peter, thank you. And pip Stevens up next. Joshua, best stocks in the market list the three new names he just added and they're under the radar. They're on not any more off of his though, half times back after this.

Once a destination for powerhouse, now of money making powerhouse, driven by money, power and faith cities of success saw leg city premier to seven tennis, R, C, M, B, C, serious sex m once twelve.

Okay, welcome back. Josh's best stocks in the market list is growing because you see breakouts taking place in three other names. You want to talk about this? I'll say the first one you have in your less J, C, I johnsen controls.

why?

Thank you for getting me started.

Yeah, you go. That's what I. This in the highly glamorous and coating edge industry of h back. 好， basically this, they are heating, ventilation, a and N, A, C company. And look, this space has not had a great two thousand and twenty four.

In fact, J, C, I, probably when the year is over, will have had earnings down five percent. But the outlook for twenty five is a earnings world of seventeen percent. And these stocks are starting to front, run that turn in the fundamentals.

If you take a look at what's happening with J, C, I, it's being echoed by another ticker also hitting my list of the best dogs in the market. This one is called fergus and enterprises. And actually this is the one I want to spend more time on because it's a special situation.

It's a Russell one thousand name, forty three billion dollar market cap, probably first time ever being talked about on C N B. C. The reason is not in the S P5 hundred is because prior to August， IT was a british company, is originally A U S.

Company that was acquired by the english. They've just shed that they did a restructuring in August. Now it's us domac's, delaware, not in any indexes right now.

I think this one can get edit to the S M, P. Five hundred. You have a break out happening pretty much as we speak and hit the list last week.

I didn't. It'll stay. Um and this is name again that could be discovered by the large cap managers who previously had a different universe. The last one I want to is cloud flare.

Can we put this up any t this is one of these made to large cap tech names, not mag seven, but it's in the cloud space, is also in cy security. This stock hit a high back in twenty twenty two. It's been consulting for almost years now.

It's finally broken out to the upside. This is not an anticipate to break out. It's a break out in progress. This is in all of the right sectors, all of the right areas of tech. And again, it's one of these names that hasn't really been discovered because IT made a tie back in the twenty twenty one, twenty twenty two bubble era. Now people are going to find out more about IT OK.

So will watch J C I N T F R G A. Those are the three tickers that you need to keep your eye on. According to josh, a trade updates you told us about delta and marriage, they were on the list before. They're both eating the record high today. IT was a month ago, actually on november fourth, you said that they were about to explode on a technical basis, as we said, deals us up fifteen percent and mary outs up fourteen percent since then.

yes. And both benefit, both benefit from the rally that we had on the heels of the election. But then they kept going.

And what's happening here, basically, these are the two best in class companies in in travel. Obviously, delta is the best airline. Marriage is the best upgrade in the hotel space.

And consumer directionally actually verses the S N P. The consumer discretion versus S N P ratio chart is breaking out concurrently with this. So uh, people were underestimated.

The the health of the consumer. You're not doing that anymore. These stocks or two of the best stocks, the market over the last month, and that's the whole purpose of the list. We want to identify the strongest companies, and then we want to look for these technical break outs and hang around the net. When you hang around the net, you have a tendency to be able to score more .

often than not. OK good stuff. We will talk to accent tilly next with his middle word.

We are back with our senior markets. Commented to example here with his midday word, you want to a give us your view of bitcoin, a hundred k of the door at forty five k round number day yeah .

I think the round numbers I also keep putting on the radar, you know that compose a twenty k which we haven't hit yet, but we were within a percent or so of that at the highs. I think it's just kind of a stop and and asset and see if this makes sense kind of moment. IT isn't necessarily a barrier.

You find IT interesting that there had been these days when bitcoin has been on a run and IT kindly seems to draw energy from the rest of the market in a way as opposed to kind of reinforcing IT. I say that you know the broad naznai moving um some of the stocks are are levered to IT are also actually down like microstrip gy actually backed off the high sop. It's interesting that um it's sort of its own solitary thing.

But I keep pointing out major indexes doing nothing wrong hovering near the highroads. Most stocks are cooling off this week actually, and yet parentless up four percent. And apple love is a five percent because they open the market like that. The reason there up and there's very, very strange economy of the the eating gambling market on one side and then the rest of IT, which is which is being quite rational and an orderly.

is the risk around the jobs report tomorrow. And if so.

how do you see that? I suppose this I think it's going to be so much noise. You can make your assistance about how much of a snap back after the storms.

I don't think so. I think the fed is going to be focused on any weakness and using any excuse to cut a little more. I don't think the one data point, like a strong employment report is all of a sudden going to wipe the antil cups, cuts off the board. So I would say IT could be an excuse for the market to have a reflect move, but probably not a broader rethink.

Good stuff. I'll see on closing gop s bikes til you are senior markets commentator coming up the commodities the committees commodity smooth bill is making some new trade in that space. All detail for you when we come back.

Committee moa related to commodities today from bilborough. You bought .

core mining cb e yeah, they are located chicago, actually had darted in chicago. The stack is up quite a bit this year, nearly a hundred percent. I think there's a lot more upside here.

The important thing they just acquired, silver crest mining IT, does give us masses in mexico, but ultimately there are sixty percent of of their mining is in the U. S. And I take a step back from gold and silver.

It's probably to lead. I did sell C. E, F, sport is a golden silver. So tied to this, I think there's a lot of upside and golden silver from here after the post trump l election fall. And I think that a mining a stock and mining name is going to outperform, especially a best in class one is going to outperform golden silver over .

the next you buy C D E, you self C E F, and you also sold M P, C, which is marathon patrol. Um yes.

that's an name is really disappoint in me a lot. This year he came. It's really come off of a high level.

We like the name of but seasonality in january and december is not very favorable or release baby in the counter returns for marathon atran wood been very overweight. Energy is a good opportunity. Tax lost harvest for you know some new monies have come in this year, move away from IT. But we do like they, they munter mcs getting back.

right? This commodity related, you did pick number and copper as your contrarian picks for twenty four me. What do you think about the space right now? Any any part of IT? yeah. Well.

so the cover pic earlier in the year was a contrarian pick and IT was really on the premise of supply and demand mismatch. And that worked out through media was also in a jacket trade for AI, much like utilities was this year. But I think the big bump in cover is behind us.

now. I like gold here. I've liked IT for a while. I continue to like IT.

I think the buyer of gold is different than the buyer of crypto. So we talk about crypto and gold being competitors. I don't know that that's really the case right now.

There is a lot of central bank action in gold retail hasn't gotten into IT yet. If retail starts get into IT, I think you see more upside. And in twenty twenty five, I don't think that we're going to see lower volatility around the globe.

So good benefits a quick break back final.

I'll see in a couple hours on closing dolla hope you're join me then. Gabby a. Santos, marco cota, geographer, among those with me today. Duce.

the final trade. Bill brook, I less in a minute left what you got. I B IT that this brings us for real IT holds to stop about ten percent away, which gets you below the monthly low in the twenty .

one moving average. Right point. That is this Young Thomas.

as a surprise to absolutely no one after the last segment gold.

you could pick lumber. That's exciting. All right, thank you very much. Just Brown lumber.

so bullish. It's very scared IT doesn't grow out of the ground at all. I like a mazda and D A, Q. This name is up trend and is the primary beneficiary when ipos and capital formation come back in twenty and twenty five. You want to be long this time.

OK so well will see our closing bell will follow up forty five k bit, going one hundred. We ll see if we get to sixty one hundred on the S. N.

P. Twenty thousand is in the offing for the nas. I've got like going on. I'll see them. You've been listening to c, nbc's halftime report, the podcast. You can always catch us live weekdays at twelve n only on C, N, B, C.

All opinions expressed by the halftime report participants are sold their opinions and do not reflect to the opinions of C N B C N B C universal, their parent company, or affiloir tes, and may have been previously disseminated by them on television, radio, internet or another medium.

You should not treat any opinion expressed on this podcast as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of an opinion. Such opinions are based upon information. The halftime time report participant sidera, but neither cnbc nor its a fillies and or subsidiaries weren't its completeness, accuracy and IT should not be relied upon as such. To view the full half time report declared, please visit the N B C dot com forward lash halftime report disclaimer.

Lies in american success story.

The more success is here, the more success that .

comes driving by money, power and faith.

This is a new frontier. Minority people do walls.

You have to knock down to break. And i've to do a lot of .

that s destination .

for powerhouses now of money making, powerhouse cities of success. Salt lake city, premier to summer ten. Tennis, C, M B C, serious, X M one, twelve.