tv Worldwide Exchange CNBC February 11, 2021 5:00am-6:00am EST
it is 5:00 a.m. at cnbc global headquarters and here is your top five at 5:00. futures pointing towards a higher open after the dow closes at a record high president biden and his chinese counter part xi jinping speaking by phone late last night. we have a live report from d.c. coming up on the contents of that call. uber shares trading lower following the company's latest quarterly reports, this despite signs of improvement in its ride sharing business. meanwhile, pot stocks soaring on heavy interest from those reddit traders, and a new
report says microsoft made an approach to buy pinterest. it's thursday, february 11th, 2021, and you are watching "worldwide exchange" right here on cnbc. ♪ do you want to go slowly into the city, the snow is sparkling ♪ >> top of the morning, i'm dominic chu in for brian sullivan let's get right to where the markets are starting off futures are point to a high open dow jones higher by 65 points, record high yesterday. s&p 500 implied higher by eleven points and the nasdaq 60 at this state. green across the screen. on the treasury yield side of things, we're seeing a little bit of movement after the comments at the economic committee of new york. the last trade there, two-year note yields eleven basis points
or .11% and the 30-yearlong bond 1.90%, the last trade for that benchmark treasury bond. on the cryptocurrency sideover things, we are seeing a bit of a pull back from record highs in bitcoin, although gaining some steam this morning bitcoin on the coin based platform, currently 45,570 and change that's up roughly 1 1/2%, muted by some standards. meanwhile, ether up about 2%, 17.71, the last trade there for those cryptocurrencies frank holland joins us with your headlines good morning, frank. >> good morning to you, dom. let's get started with uber, posting a smaller loss in the latest quarter, telling investors it's on track to reach its goal of a profit they have improved from pandemic lows shares are trading low this morning, but they had gained 6% during yesterday's regular session following a positive report from rival lyft don't miss uber's ceo on "squawk
box" this morning at 8:30 a.m. eastern. dating app bumble, above the target range the company raising 2.2 billion bumbe ceo will join "squawk alley" at 11:00 a.m. eastern. astrazeneca posting quarterly results early this morning. er earnings in line with estimates. the drug maker expects 2021 revenues to increase by low double digits. that forecast does not include any impacts from its covid vaccine and shares of astrazeneca up about 2% this morning. dom, back over to you. >> frank holland thank you very much for those headlines. futures pointing to modest gains, dow implied higher by roughly 70 points. joining us now is ryan payne of payne capital management are you still comfortable keeping your money invested in the market at these high levels?
>> yeah, i think it just comes down to diversification because like not every market is created equal here if you start looking at what technology has done, where the s&p is trading versus other asset classes, i mean, the s&p now trades at like 22 1/2 times forward earnings that's in like the 96th percentile of the most expensive, going way back to the tech bubble when it traded 25 times earnings when you start looking at other sectors and asset classes and you start looking at financials, energy, you look at small caps, you know, you really have, i would say, arguably cheap valuation, you know, based on what other parts of the market are trading at and a lot of runway to move if you look at energy stocks specifically, they have been in a bear market since 2014, so you're just starting to see asset classes recover from a long bear market financials. we're trading the same place since 2018, and you are starting to see the foreign markets which did nothing for the longest time
there's plenty of places to put your money and get a lot of value. >> if there are plenty of places to do it, where exactly are you allocating client money right now? where's the new money going. let's say somebody comes in a check for x dollars, how does that get allocated in your particular model >> yeah, good question so basically right now you've got to have value in your portfolio. you've got to think about that reopening trade, and you have had this huge rotation going on. it's been hidden in plain sight. if you look at the last three months, you know, small caps are up over 25%, financials are up 25%, energy is up 50%. foreign markets, emerging markets are up like 15%, and if you look at technology, it's only up like 13%, so all of those different asset classes, we have been adding money to what i keep looking at and which blows my mind is all the money being printed. another $1.9 trillion on top of the $2.2 trillion we had early last year with the c.a.r.e.s act.
$900 billion, the government bestowed upon the economy back in december, and all that looks very very inflationary to me, and also said that we're going to have like rocket fuel on the economy come the later part of this year, so any companies that benefit from that reopening, any sectors that benefit from that reopening, you have to have your money there because that's where the relative earnings are going to be much better in places like tech that killed it last year, but if you're amazon you doubled your profits 10 billion to 20 billion in profits, probably not going to 40 billion in profits this year. again, going back to places like n energy, they're going to double their profits this year. that's where nsummon money is go gravitate towards in the boring old school industries. >> you sound traditional and establishment. haven't you heard everything these days is about cryptocurrency, it's about marijuana related stocks it's about all of these different types of new emerging spacs and everything else.
why haven't you talked about any of those types of investments to put your clients into? >> yeah, no matter what the reddit crowd tells you, dominic, and i'm old school, man, eventually the market is going to care about earnings you know it and i know it, and all of these, you know, speculative asset classes that have been bided totd the moon here, a lot of this has to do flow of liquidity. we're starting to see inflation, commodity prices are up. interest rates are up. hot asset classes, that's the death nail for them when you start having inflation because when inflation kicks in, investors care about one thing, th profits and immediate profits, not profits 40 years from now. if i'm old school, yes, but that's where the action is going to be. >> all right if you're old school like that, take us through, then, some of the favorite ideas that you have right now. are there specific stocks or industry groups that you're
looking to get into whether they be individual names or via the etf market >> i have talked a lot about energy this morning. i'm enamored with energy right now, pipeline specifically a 7%, 8% dividend, like the alarian pipeline index it's a toll every time oil or natural gas is put through the pipelines, that's a great place to put money right now, single digit valuations and oil demand is going up. it's not going down. old school fossil fuels, we're still going to be using them for another 20 years peak energy demand still years away, and i have to think, you know, when the economy reopens later this year and economic growth is like 6 or 7%, we're going to be flying more, driving more you think that's a really really important place to have money right. the financials as well interest rates go up, banks make more money they're going to lend more as the latter part of the year comes into play, and people are
feeling the animal spirits again, they're going to want to borrow money again businesses are going to borrow again. it's going to be a melt up in the economy. that's two places that right now are allocating capital for o clients. >> ryan payne, we'll call him old school and establishment. >> i'll take it. today's top stories out of washington, d.c., president biden, and chinese president xi jinping speaking by phone last night. this was their first call since biden took office in the president of the united states biden raised quote fundamental concerns about beijing's quote coercive and unfair practices, crack down in hong kong, and increasingly assertive actions in the region, including towards taiwan the two leaders also discussed other issues, including the covid pandemic and climate change as well meantime in other washington news today, the impeachment
trial of former president donald trump will continue on capitol hill nbc's susan mcginnis joins us with the latest there. good morning >> good morning, dominic house managers prosecuting donald trump will wrap up laying out their case today before the trump defense team gets their crack at it tomorrow yesterday was an emotional day a lot of dramatic video was shown. senators who were there as jurists were witnesses to that january 6th insurrection, and yesterday they relived it. house managers prosecuting donald trump continued presenting their case today after showing dramatic video wednesday of the january 6th insurrection not before seen publicly the video rekindling members. >> they came draped in trump's flag, and used our flag, the
american flag to batter and to bludgeon >> house managers detail that donald trump's efforts to overturn the election. >> we were getting ready to win this election. frankly, we did win this election. >> reporter: alleging the riot was far more choreographed than it appeared. >> there was method in the madness that day >> they believed that they were following his orders they said so >> we were invited by the president of the united states >> reporter: impeachment managers telling of a commander in chief who after egging on the mob watched the violence unfold with glee. >> president donald j. trump ran out of nonviolent options to maintain power >> reporter: some republican senators noted they were not impressed. >> there weren't a lot of surprises. we were all here. >> reporter: the trump legal team takes the floor tomorrow, and will continue to argue the president's words are protected free speech and that he never intended to provoke the attack
and the trump defense team is not expected to use all of the 16 hours that it gets to lay out its side of the case, figuring that the outcome and acquittal of donald trump is virtually assured. dominic. >> nbc's susan mcginnis in washington, thank you very much for that. when we come back on the show, pot stocks are surging as they pick up lots of chatter on reddit and internet boards the names that you should be watching coming up next. but first as we head to break, check out some of this morning's other big movers as you can see in the dow, premarket gainers include amgen, 3m, and walt disney, stay tuned for the premarket losers, nike, chevron, and goldman sachs, we've got a very busy hour straight ahead when "worldwide exchange" returns after this break.
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exchange." let's get you a look at some of the themes that we want to keep an eye on that have been playing out over the last couple of days first of all, let's check what's happening with the emerging market stocks. you heard ryan payne let's segment. the ticker is eem, down fractionally in the premarket trade but we did hit a record high in yesterday's session for this measure of the emerging markets and by the way, since the pandemic lows, you can see over here, we are up roughly 90% during that span a huge move higher
it's outpacing the s&p 500 which in the same time span is up roughly 78% or thereabouts another thing to watch right now is what's happening with crude prices anyone like me knows we're paying more for gasoline $58.28 still, we're arriving an eight-day winning streak for this commodity u.s. crude prices, the first time it's happened since february of 2019 a winning streak for wgi crude we'll see if it stays that way it's currently down. gamestop, a huge check there we are now below $50 for gamestop shares right now in the premarket trade, off another 3%. remember to put things in context. these are closing prices, which is why you're seeing 360 over there. on an intraday basis in the regular season, we hit $483 at one point. somebody paid that much for gamestop now it's closer to 50, meaning we have dropped 90% since the
all time highs that we saw around 4 that we've seen that stock, remember, since the beginning before that was a 2,300% rise in gamestop shares certainly one of the biggest stock stories of this year to date. now, the reddit trading community that drove a lot of that action is creating waves in the market with their dive into short stocks have turned their attention to a new trade, which is cannabis stocks frank holland is back with more on that trade, and frank, is it the internet boards that are driving all of the action in marijuana. >> you know, it's not driving all the action, but certainly cannabis stocks, they appear to be the new focus on the wall street bets reddit page. it led to a block buster day for cannabis stocks that are trading higher on optimism that federal legalization is coming relatively soon. all right, take a look at this meme, it got more than 40,000 interactions on reddit yesterday. many reddit posters saying they're taking their gamestop and amc gains, and now they're
putting them into cannabis stocks this might actually sum up a lot of what we're seeing posters saying they have been putting money into weed for decades, if you look on the boards one poster saying specifically i have been putting money into weed for decades and now i actually own the stock another person on the thread calling it weed stock bets, to give you a sense of the flavor on reddit. and yesterday, names like sun dial, they actually closed 78% higher, going from basically a penny stock to one with a market cap of over 4.5 billion. tilray 50% higher, organigram, 643% higher than 30-day moving average. t tilray, that's more than facebook, amazon and microsoft combined yesterday one trader talks about beating the shorts on the stocks but that does not appear to be a
gamestop situation going on here tilray with the highest short interest, nowhere near the 100% plus that we saw with gamestop huge outperformers year to date. outperforming the market on the legalization hopes that a lot of people think is coming and now they certainly got the attention of reddit traders. >> is there a fundamental aspect of this, or strictly technical or exuberance, this casino mentality that some say have been going along with the wall street bets type stocks. is there anything that can underpin a massive doubling in value for some of these stocks >> dom, i went into the reddit rabbit hole yesterday. there does appear to be some strategy here. these traders are targeting smaller stocks like sun dial that are easier to move ft they're also trading on m and a news tilray, and aphria, they may be
following investing advice, now talking about smoking marijuana for years and transitioning that love into buying the stock. >> an interesting trade. one of the hottest themes in 2021, pot stocks thank you very much, frank holland. still on deck for the show, why microsoft buying pinterest, they already own linked in. stay tuned today's big number, 121.36 terawat hours, that's how much money bit cone mining for years. if bitcoin was a country, it would be in the top 30 nations t world, ahead of argentina, the netherlands and the uae.
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♪ building it's immunity, preventing up to 90% of future damage. damage, do your worst! this hair can take it all. pantene welcome back, let's check on this morning's other top headlines. nbc's phil lebeau has the latest. >> good morning. as the country continues with the critical covid vaccination phase, a new poll finds americans are not happy with the rollout. 66% are dissatisfied with how hard it is to get the vaccine. but 71% of americans say they are willing to get vaccinated, and when it comes to party lines, 51% of republicans and 91% of democrats are willing to be vaccinated. georgia state leaders are promising a one-time, $1,000
bonus for state employees. the announcement was made on wednesday by house speaker david rol rolston, those who make less than $85,000 a year will qualify for employees in public health, public safety and more it will cover around 57,000 state workers. a man who has been a controversial figure in america for decades has died la larry flynt, the founder of hustler passed away. he became an unlikely first amendment activist he was 78 years old. dom, back to you. >> phil lebeau, thank you very much for those headlines we appreciate it. coming up on the show, president biden speaking to his chinese counter part last night. our own kayla tausche joins us with the highlights. that's coming up next. and as a reminder, you can watc or listen to us live on the cnbc app as we take a look live at new york city's times square at
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good morning, a record run for stocks, looking to add to gains at the opening bell today after the dow closed at an all time high yesterday. president biden speaking with chinese president xi jinping for the first time since taking office. we'll head to washington to find out what the leaders talked about. plus, this morning's top corporate stories including why
microsoft reportedly explored the idea of buying pinterest interest in pinterest for microsoft, it's thursday, february 11th, 2021, and you are watching "worldwide exchange" right here on cnbc welcome back to the show, i am dominic chu in for brian sullivan this morning. let's get right to the markets as you can see here, futures are pointing toward modest gains at the opening bell the dow is implied higher by 55 points a little bit of steaming coming up there remember, the dow hit a record high in yesterday's trading. the s&p 500 implied higher by roughly 10 points, and the nasdaq higher by around 58 to 59 points there as well keep an eye on the green across the screen treasury yields slightly on the move a little bit on the ten-year bench treasury to the downside, just a hair below 1.14%. the 30-yearlong bond, 1.91%, and
the two-year note, just about eleven basis points or .11%. now, let's take a look at what's happening with the european markets because we are seeing a little bit of movement there you can see the german dax up about 1/3 of 1%, the cac in france, 1% declines, and the ftse, flat the ibex in spain down 1/2 of 1% to the top corporate stories frank holland is back with those. hello, frank >> hey, good morning, again dom. the ft is reporting that microsoft made an approach to buy pinterest in recent months microsoft interest in interest, but the paper says those talks are not currently active the market valuation of pinterest has soared by 600% during the pandemic. in other deal news, the plan to sell tiktok's u.s. operations to oracle and walmart has been paused indefinitely. the "wall street journal" says the move comes as president biden begins a broad review of the trump administration's actions on chinese tech
companies. tiktok parent bite dance has been pushing legal challenges against the deal since last fall late yesterday, the white house asked to delay a government appeal of an injunction against the tiktok ban which was put forward by the trump administration. and mastercard plans to open its network to some cryptocurrencies, the announcement yesterday following news earlier this week that tesla has bought bitcoin and plans to soon accept it as a form or payment. shares of mastercard up a percent and a half this morning. back to you. thank you very much for those headlines to now to washington, d.c. and the first official phone call between president biden and xi jinping of china what can the call sound like on the first time they have ever chatted? >> well, they have chatted many times before they spent quite a bit of time together ten years ago, vmt vice president biden went to visit china to sit down with vice president xi this was the first call as
leaders of their respective countries. president biden said there was no occasion to hold it he found an occasion this week with the start of the chinese lunar new year which is happening today, but according to the call, it was one that encountered many difficult conversations and left many questions open ended according to a readout that was provided by the white house, president biden communicated many things, including undeun underscoring his fundamental concerns about beijing's coercive and unfair economic prices, human rights abuses, and increasingly assertive actions in the region including toward taiwan president biden also committed to pursuing practical results oriented engagements when it advances the interests of the american people and those of our allies and president xi, according to the readout that was then provided by china's ministry of foreign affairs said that many of those issues i just mentioned were china's own internal affairs to be dealt with, and while the respective foreign
affairs departments of both countries could have a constructive dialogue ongoing but the two leaders should focus on cooperation because that's what's important for the stability of the world order of course this call comes at a time when the biden administration is undergoing a wholesale review of the trump administration's posture toward china. that includes the phase one trade agreement. that includes as you just mentioned a deal to sell tiktok to oracle, which press secretary jen psaki said yesterday, they will study the national security concerns and make a decisive decision on that front, and also a deal to allow huawei to partially do business in this country. president biden yesterday announced a broad intelligence and defense strategy that will be led by the pentagon, and they will also be evaluating the u.s.'s military footprint in the indoe pacific region, including the south china sea. there has been no deadline set for those rooufrs reviews. they could take six to 112
months, president biden making it clear he's not taking a soft line on china. back to you. >> i wonder now that the conversation has been initiated. we know they have been talking at lower deputy levels for quite some time since the president took office. what would be the next step here what can we expect to see, is it a resumption of trade negotiations is it the technology side of things, what exactly could the biden administration's priority be when it comes to the next step with china >> reporter: sure, well, dom, the biden administration has stressed that it wants to return to a formal interagency process where the conversations would be led by the u.s. trade representative and the international team at the treasury department. those people are not installed yet. many of them have not even received confirmation hearings that could happen, we're told, in the coming weeks, so expect a whole of government dialogue to begin taking place at all of those levels once you start to see some
personnel being filled in. as for when you could see a bilateral or expanded bilateral dialogue between the two countries on issues such as trade, the people i'm talking to say not to expect that in the near term, that it could happen on the sidelines of one of these big multilateral events, like the un general assembly, which is perhaps the first big event that could happen in person, once vaccination and herd immunity is released last night on a phone call, a senior administration official told reporters that at least as far as tariffs go, that the biden administration is not going to be rolling those back anytime soon as this review is underway >> kayla tausche, staying on top of everything biden, china, and everything else. thank you very much, we appreciate it, kayla >> sure. the other big story in washington, d.c., the push to get a covid relief package done. the biden administration is reaching out to business leaders in a bid to gather support for such a plan. cnbc.com politics and finance reporter, brian schwartz has a new piece out on that push
it's online right now. go to cnbc.com he joins us now to tell us a little bit about what exactly is going to happen, and how exactly, brian, can a deal get done for this massive covid relief package >> thanks for having me, dom good morning i would say that, you know, in part it's kind of starting with this building of a broader business coalition, and cnbc has learned that american airlines, general motors,erness and young, among other companies have been engaging with the biden white house about, you know, potentially supporting, maybe publicly if not privately, this larger covid relief plan that the biden administration has put forward, and you know, really, it's kind of a critical piece of this larger effort to get this bill through, and you know, this is on top of that business engagement from the biden administration that's on top of what took place this week with jamie diamond and other ceos and business leaders in terms of their, you know, connections with, you know,
corporate america and this larger coronavirus relief effort beyond just that coalition putting together in a way, they're also turning to business leaders as stake holders and kind of advisers, from what i was told from a senior white house official in terms of maybe potential advice on what this bill could look like, and what advice these businesses could give, based on their own experiences of handling the coronavirus pandemic from their own side of things there's tons of layoffs, people losing jobs, people having to make cuts. engaging what the corporate sector has been part of this, the biden administration effort to push forward this relief package, and we'll see what happens as we get going with this legislation. >> brian, i'm kind of curious, what is the purpose of doing this we know that president trump and many presidents before have engaged business leaders with regard to trying to craft policy how is this, then, a different
approach what exactly is the ultimate objective? how important is shoring up business support for $1.9 trillion covid relief package? >> i would say this, it's that basically it's, as i was told, steve, to have an echo chamber, right? you get a bunch of these folks on board again, they're going to have little issues here or there, or certain pieces of the plan tom donahue, somebody in the chamber of commerce. they have engaged the chamber of commerce in the white house. he's had an issue with the $15 minimum wage it's not like an entirely perfect situation here but mostly, i would say, many of the executives they spoke with have supporters b uut the whole idea has some sort of echo chamber. they will tell the white house they support them, and they'll go out and interview business leaders and say here's why the plan is great. it's again, kind of a public relations effort you get the folks to go out there. a lot of people listen to them, come on our air. they speak to different news
publications and they'll explain why they think the biden relief plan will help america, and that of course will put public pressure on congress to move ahead with this larger effort and just to get it done. and that's kind of been the message, and that's kind of been the focus and the idea of these calls. >> legislation is always a compromise effort. there's no perfect solution here we know that there are components and president biden himself even made illusion to the fact that the $15 minimum wage may not survive this iteration of the bill. yet, i know that according to a recent cnbc survey monkey survey, it's almost 2/3 of small business owners in america support the $1.9 trillion covid relief package that could include a $15 minimum wage how exactly, then, do business owners, small and large try to reconcile their support for this massive relief package >> i think you have to go off of what, in the end, what they're going to put out there, democrats, that is, with this
bill once things start moving forward in congress. i mean, there's also been, of course, talk of $1,400 checks. that's something that really, many business leaders, small and large, support you know, so there are many aspects of this that small and large business leaders, executives at multiple levels, clearly based on the conversations i have had with folks at the white house do support this it only, at the end of the day, puts pressure on congress. democrats and republicans to come together and keep moving forward in the legislative process, keep engaging with the white house, and keeping these corporate leaders engaged on this process as a whole as we get closer to kind of figuring out how this all ends up with covid relief. >> brian schwartz. thank you very much for that update there, and by the way, you can read that full story on cnbc.com right now back to the markets, which look to continue their recent upward momentum. the major averages are trading at or just off their record highs. they're also on track for a second straight positive week. but check out the russell 2000
small cap index, the real big winner, outpacing the s&p 500 for the week, the month and the year so far, up 15% just in 2021 let's bring in craig johnson, chief market technician at piper sandler. you look at the charts for a living, we have spoken a lot over the years, do the charts tell you there's up side ahead for the small stocks. >> dominic, thanks for having me back, and you look at what's happening with small cap stocks and what's happening with the markets, i think the answer is yes, i think the russell can continue to move higher. i think we have to put this whole advance into perspective when i go through and look at all the statisticals in the market, things look as extreme to me today on the up side, as to when we hit the bottom of the market in march 20 of 2020 last year when i look at how many stocks are in some form of an up track, it's 80% of all stocks and when i say all stocks, all
stocks about a $25 million market cap at a $2 price, over 4,500 stocks we have 289 of our industry groups that are making 26-week new highs today. that's just as extreme as what we had seen back at the march lows while i think everything is great and more vaccinations happening and earnings recovery and all of these things are terrific and moving in the right direction, for me it's a little bit of a reality check right now. everything is so good, the question is how does it get a whole lot better than where we are right now. market breadth has been great. to me it feels like we're due for a pause. i don't think the longer term trend is over but we're due for a pause and setback. our longer year end objective is 42.25 for the s&p 500 but we need to see healthy check backs along the way so the market doesn't get too far ahead of itself. >> over the years, i have spoken to a lot of technical analysts, they have tried to impart wisdom i have tried to use tools in the
past in my life on wall street and as a reporter here i'm curious, when it comes to market volatility the likes of what we have seen in certain pockets of the market, over the last few weeks n cryptocurrency, specifically in short squeeze stocks, marijuana stocks are there any things out there from a technical perspective that have been damaged, reversed, confirmed because of the recent market volatility? >> you know, if we take some of those pieces straight across the board, talk about the cannabis talks, those charts all still look very much in up trends, but dominic, i would define those up trends as basically parabolic, meaning they're going up so fast they're almost bending over backwards. you're seeing the same thing happen with the cryptocurrencies i spent many years looking at the cryptocurrencies i look at many of these things, and i'm saying, i want to sell or trim positions in some of those areas because it's been so strong, it's been up so fast i go through and look at some of the clean energy type names, and
again, the momentum and the moves we have seen in these things are bended extremes some of these extremes when you look in the past, dominic, they're at momentum indicator levels that we have seen at prior peaks. again, not to be the individual that's trying to throw cold water on the party, i'm just trying to look at this market with a little bit of a sense of kind of prudence and a little bit of a perspective of we've gone pretty far pretty fast. we've baked in a lot of good news i wonder how the narrative is going to start to change as interest rates keep pushing our way higher and ultimately, higher rates is probably going to lead to multiple compression. we hope earnings pick up fast enough to offset that. >> technical analysis, part art, part science, certainly a whole heck of a lot of math here with all of these things in mind, are there certain places within the market that are poised, technically speaking for more relative up side than others where would you be committing new capital right now, based
upon the charts? >> based upon the charts, dominic, i think you have to take a look at the industrial sector this is a sector we are overweight to be clear, we remain overweight tech. we have been for 256 plus weeks and we also remain overweight in the consumer cyclicals and industries for new capital, i would be looking at industrials, as reopening trade starts to pick up i like at osk, oshkosh, nice bigger double bottom in the industrial name, and i think you're going to see a nice move higher from there. i would also look in the financials, yield curve continues to steepen it's very clear that the ten-year bond yield is moving higher, and we think it will work higher to 150 to 175 by year end you want to own the banks and the financials stocks like co america, visa, mastercard, capital one all look like stocks that continue to look constructive to us. those are two areas, and then, dom, i have to tell you, one other thing, as i have been having calls with clients since this month's publication came
out, if i look at the ten top performing stocks in the s&p 500 and i simply do a quick poll with individuals, pretty much nobody owns any of those top ten performing stocks. a lot of those are energy stocks that have been in the top ten, and they have also been stocks like ford and gm that have been under low for a while. this moves toward the value side from the growth seems to be catching on, and certainly is a place where investors are going to have to commit some capital even though they don't want to do it in energy, it's so under owned, it's probably a good spot to be. >> it's been a hot part of the market for a while for at least the last three to five months. craig johnson at piper sandler thank you very much, great to get your thoughts sir. >> thank you. coming up on the show, this morning's top trending stories, including mcdonald's bringing a drink back because of consumer demand, a surging demand there, hi-c and oscars in the age of the pandemic, and tom brady taking a long pass to a whole new level
it's not just a football it's worth a heck of a lot more. as we head to break, some of your other headlines this morning, best buy has notified store workers it's cutting some jobs, and reducing hours as it adapts to more people shopping online shares of i robot jumping this morning. shows shares up 10% premarket, and one stock to watch, it's zillow, getting a nice pop after the real estate company posted better than expected earnings and revenues those shares up 9% premarket stay tuned, you're watching "worldwide exchange" right here on cnbc. ready to shine from the inside out? try nature's bounty hair, skin and nails gummies. the number one brand to support beautiful hair, glowing skin, and healthy nails. and try advanced,
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visit cvs.com. all right. in-person oscars, an iconic orange drink and a very expensive pig skin frank holland has more on all of those trending stories today i am already thinking about what it's like to have a hi-c >> are you already thinking about that i was looking at a video related to our last story but we're going to get to that in a moment let's start with the first one, the academy of motion parks arts and sciences has announced it intends to hold the oscars in percent. the event will be broadcast live from multiple locations, one of which will be the dolby theatre. it was already pushed back two months from the original date. hi-c lava burst is coming back to mcdonald's. the company announced the iconic orange drink will be returning to select restaurants after a big social media outcry from fans who have been waiting for four years to get the drink back
to soda fountains. hi-c will be available in select restaurants this month and all across the u.s. in june. take a look at this one. tom brady, super bowl champion, tom brady, and rob gronkowski celebrating the win in a boat parade yesterday in tampa by tossing a silver pig skin, the lombardi trophy you get when you win the super bowl brady throwing it from one yacht to gronk in another yacht. i can't imagine if it fell in the water. just an example of the synergy that got them the win. there's a popular video on twitter about tom a little bit overindulged, that's what we'll say he was >> tampa bay and boat parties have synonymous, boat parades these days we'll keep an eye on those things thank you very much, frank holland for those. >> thanks, dom. on deck, jim cramer's warning to investors stay tuned, you're watching "worldwide exchange" on cnbc
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you wouldn't know it from the action, down .04%, but this is starting to feel a little bit like a kenny loggins market, yep, we're on, i'm going to say it, the highway to the danger zone >> how many folks were hoping he would say i'm all right instead of highway to the danger zone. that was jim cramer on "mad money" last night with a warning for viewers and listeners out there. joining me is advisers capital partner and portfolio manager dr. joanne feeny that's the warning, highway to the danger zone, joanne, should we be that scared, is it f dudu ud, fear, uncertainty and doubt in the market >> i wouldn't be all that scared i do think there are parts of the market that have run up a
little bit, and have become a little bit expensive when we are creating portfolios, we are customizing them, using individual stocks. we're able to avoid high fliers. we have been trying to relate to people, a key message for this year, which is be careful of the trap of thinking that what you did last year is going to serve you well this year, right, we are seeing a lot of asymmetry in stock performance that came out last year as the covid hit different sectors in very different ways, and we think that the economic rebound that is coming in the second half is similarly going to have an a asymmetric effects on stock. that means banks, it also says there are places in technology where you're still finding value, and where there's a lot of appreciation potential and also some really good income stocks for clients, you know, that are looking to their portfolios to generate income that they can cruse in their
retirement there's a real lot of asymmetry that we think is going to be characteristic of the rest of the year. >> i want to get into your stock picks and also probe your mind a little bit about this. we have been talking about this notion that there could be a rotation, some kind of a movement, a transaction to move certain people out of the established good trade into new ones for a long time now, arguably arguably fits and starts for the past ten years, why is this different, why can we expect sectors to outperform when in the last decade it's been all about mega cap tech and communications services? >> one of the key reasons this time is different is because of the nature of the shock itself, right, this recession, this massive destruction to stock prices was created by the pandemic and that shut down services industry broadly that really curtailed the economic activity in those industries, so the reopening trade is what's so very different about past cycles in
the stock market and in the economy and so what we see, right, is that the banks that really under performed last year, energy under performed last year. these things do better when an economy, you know, recovers, and we think that in the second half, we're going to see a lot of companies reopening, and we're going to see a much more sudden return to business than we have after past recessions. and that suggests, perhaps not that same traditional, you know, sector reallocation or value versus growth, but really looking for the companies that stand to gain the most as those different industries reopen. you know, one of them is the auto industry which got hurt as it shut down manufacturing during the pandemic, and is now trying to ramp up production it is really being constrained by, you know, some of the shortages over in the semiconductor industry that itself tells us how to make some good trades right now. >> all right joe anne feeney, thank you very
much for that, we appreciate your thoughts. good luck out there. >> thanks. >> that does it for us on "worldwide exchange. futures pointing to nmore gains on the opening bl,el the dow, 12.5, the dow 76 "squawk box" picking up coverage next research shows that people remember commercials with exciting stunts. so to help you remember that liberty mutual customizes your home insurance, here's something you shouldn't try at home. insurance is cool. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ when you switch to xfinity mobile, you're choosing to get connected to the most reliable network nationwide, now with 5g included. discover how to save up to $300 a year with shared data starting at $15 a month, or get the lowest price for one line of unlimited. come into your local xfinity store to make the most of your mobile experience.
cnbc's all american economic survey watch "squawk box" anytime on demand good morning, futures marginally higher this morning after the dow closed at a record high, eking one out yesterday. uber shares trading lower after the latest quarterly report despite signs of improvement in the ride sharing business. maybe they're happy they diversified into not a pure play, some of those other things dara khosrowshahi will be on in a first on cnbc interview. and pot stocks are ripping higher as reddit traders turn their attention from gamestop to
cannabis actually might make sense. it's thursday, february 11, 2021, and "squawk box" begins right now. ♪ your love lifting me higher than i've ever been lifted before ♪ ♪ so keep it up which my desire ♪ >> good morning, everybody, welcome to "squawk box" on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin, and yesterday, the dow set another record this morning, it's looking higher once again. let's check things out you're going to see the dow futures and the other indices indicated up right now, dow futures up by about 63 points. the s&p was down yesterday but only by 1 point, so you can basically call it flat it's indicated up this morning by about 11 points and then the nasdaq which was off by about a 1/4% is indicated up 060 point this morning comments from jay powell