$$2 billion. >> but, hey, if they can make it, they can make it well. nike used to do business more with amazon. stopped doing that and they're still doing quite well ho how about that for shoes look at zoom having a rough day, affirm pulling out a bit after a strong day yesterday and with that "halftime" starts now. that's right and welcome to the "halftime report," everybody it's the last day of the month and oh what a month it's been for stocks one of the best of the year. the best for some indexes. retail traders where they're back money, it's flowing in and nothing can stop the market from going higher. right? wrong. there is always risks. and we're going to hit them along with more opportunities still are. and a great lineup today stephanie link, liz young, josh brown and pete najarian,

co-founder of market rebellion.com. all right. that's ahead but first let's get a quick hit on how the money does in the markets. and the mechanic are mostly muted, mixed dow up fractionally. nasdaq down fractionally but that doesn't tell the story of the month check this out the dow is now on pace for the sixth up month in the past seven. the s&p 500 on pace for its 54th record close in higher of the year wow. and a 7-month win strategic, the first time that's happened for the s&p since december of 2017 all right. stephanie link, begin with you i'm throwing a little shade at myself because i opened up the show like that to make a point. when people like me wearing makeup on tv like this say there is nothing that can stop a market rally, isn't that time to maybe sit up and take notice of some of the possible risks out there amid all the bullishness >> well, there is always

something to worry about i've always said i worry when i don't worry because that means we're complacent we still have uncertainties with delta, with ida, peak growth i think i've within saying consistently we're at peak growth, peak earnings growth but we are not going to be -- we're going to be above trend, continue to grow i think that's supportive of solid earnings, double-digit earnings and solid gdp growth, maybe not 8%, 10% like we see right now, maybe falls to 4% or so next year but that's supportive of earnings stocks, and why stikso stocks are at high september is always seasonally soft august and september and now we have the end of earnings now we know the fed wants to taper. so we happened to worry about database let's climb the wall and worry i think stocks go higher into the end of the year. >> josh, i was trying to poke a little bit of fun at the media,

folks like me in saying this kind of stuff. but there are so many things covid cases resurgent here and in china you talked about hurricanes. we talk about afghanistan, all those things and yet the market continues to plow higher even to stephanie's point in a seasonally weak historically speaking of course, anything can change, part of the year i mean, what are you hearing, advising your clients to do? >> a couple of things. first of all, you are the media, sully. i watched you yesterday, i think for three hours. is everyone on vacation? are you the last man standing? you did a great job. i want to correct something about this being a seasonally weak period. we're going into september and actually september starts the best six months of the year. the thing is, though, some of the biggest crashes in history have occurred in late september through october. so it's actually not seasonally weak right now

seasonally strong. however, you do get these historic and memorable bouts of volatility i don't invest based on that stuff. i have a lot of respect for jeff and yale hersh and the stock traders almanac. but i don't think that's actionable if you tell me 58% of the time there's a 20% correction in october. i'll i'll say okay are with he in the 58% or 42 i don't know we'll tell new november forget about that. the big picture. we have strategist after strategist on the show sully not your fall you're not usually hosting, telling us we are overdue for correction, and that there is going to be you know, a 10% dip, big volatility. it's not a profound statement. on average every 18 months you get a 10% selloff in the stock market saying that is like saying it might be 75 degrees in san diego today. we understand that

what i continue to point out is listen to the year to date returns. facebook plus 38%, google plus 65%, microsoft plus 38%. and now yesterday apple finally breaks out to a new all-time high apple's only i asoenl in air quotes, 15% year to date as long as those four stocks which represent 40% of the nasdaq, 25% of the s&p, throw in nvidia, a couple of others, as long as those stocks are holding up, everything you hear is just -- is just feelings it's just commentary that has been the case all year. what else do you want to talk about? you want to talk aboutdy verjtscys in the russell 1,000 matter it doesn't matter. they're not big enough so this is where i am. >> i agree >> all year it's by my call and

i hope more people recognize. >> don't jump the show because we're talking about the narrowness of the technology markets. in that etf. these are good points. i agree with all of them spending part of my childhood in california, go chargers. i hear what josh says. making a great about statistical average. you can up nine years and suddenly down on average it's called math but there are risks out there the market appears to be ignoring for whatever reason what is the whatever reason? >> yeah, well, i don't want to be one of the strategist that comes on and does what josh just said and call for a 10% correction here. i won't do that. but i do tell you that i think september is going to be at least a pause in the rally because there is no new good

news steph already mentioned, there is not hoolt of news coming out on earnings. earnings are great, strong corporate america is doing well. we're not hearing about it in september. what we do have, though, is the fed dot plot on the docket i feel like i'm the only one talk about that. if happened in june the last time the market didn't like it because it moved rate hike expectations forward i think there is a chance of that in september. we have a debate in washington and the market doesn't usually like that either we have the budget and freging i think too about the fact that we have tax hikes included in the budget i think that's part of why you saw the sentiment data hit in august because people expect tax hikes at the end of the year there are definitely risks out there. always risks out there, though what do you do in september about that you use it as an opportunity to position yourself? if you have a bunch of carbon the sidelines -- i don't know there's a lot of people with

carbon the sidelines at this point? but but if you do you have an opportunity to reposition yourself we can talk about those trades later. i think the bigger worry is about feelings josh mentioned this too. but it's about feelings and the idea that we haven't seen a next in so long so we forgot what that looks like. and there are a lot of new investors in the market that have never seen a correction like that. when it happens it's going to test their conviction, all of our conviction and we have to hold on through it >> can i respond to that real quickly. >> yeah, pete, i guess. >> go ahead, josh. >> the average -- the average nasdaq stock at its low a week ago was down 30% i don't think that nobody has seen a correction. i think somebody with an spy portfolio, liz, you're 100% right. if they are just virginia van guard investor they ain't seen nothing yet probably because of the four stocks i talked about at the top but i think most investors

especially the younger investors started in the last year they've seen plenty of turmoil and volatility because the top ten robinhood list, those are the stocks that really have had the biggest drawdowns, most volatility so i -- i don't think it's quite as black and white but i agree with your point that if there is a marketwide correction tp it will take people by surprise given how long it's been since the last one. that's always been the case. sorry, sully. >> no, doing this 25 years, pete we used to have the corrections where we'd go slowly down for a couple of months and you'd go down 12%. the market chewings back up. that seems to have been replaced by these new obviously we had a pandemic of course but these violent 15 and 20% drops in a matter of weeks we've had a few of those the last ten years so we haven't, yeah, had the garden variety correction.

instead we had the steep collapses, epic ski wipeouts, right, and the market gets up puts on the skis and goes down the hill is there anything you see out there that we mentioned or maybe haven't mentioned that would most worry you >> not so much on the worryside right now, sully other than looking at volatility and it drops back down and we can't sustain over 20, jumped up over 24 a week and a half ago. and now back under 20 and here we are at about the 16 level so, union jon and i are always talking about volatility, volume, velocity and those types of things. the volumes are absolutely extraordinary right now in the -- in the derivatives markets. it's absolutely crazy. we're average bag 35 million per day or 36 million per day in august we've had a great year already had a great 2020 in terms of volumes consistently being there. but, you know, we had the velocity you're talking about. when we get moves they are

dramatic but for the most part they've been just sort of this steady as she goes type of a thing as a matter of fact, sully -- brought up by josh -- but i'll tell what you, where do we see the activity of that huge volumes that heim talking about? yesterday is an absolute great example of that. we see the nasdaq didn't even look back, just continued to rip to the upside. and we were seeing buyer after buyer over the previous sessions in apple, in microsoft, in amazon, n individually, intel, call kinds of different names on that tech, semiconductor side of things there is no doubt about it but we also started seeing about a week and a half ago or so some of the chinese names finally making a bit of a curren turn. we saw volumes in the fxi for instance, seen the huge volumes i believe jon talked about yesterday using the lower volatility to buy the spy upside call importantly on that they definitely were buying protection, not for negativity

reasons. they were buying for protection in the spider as well. that's what we are looking at right now. that actually does slow down some of the moves to the downside if people do want that quote unquote insurance or protection yeah. >> yeah, very quickly, very quickly, how is the options market- okay, your world, altered the way we look at equity markets this isn't 10 or 15 years ago -- you back then jb i'm going to tell itt you told stocks now you doesn't have to do that. you can do the hedging in the options market. >> right. >> how much has that change the volatility and all the historical averages we talk about? >> well, i think it's definitely had a monstrous influence. sully, i always go back to the financial crisis and say, you know, when they removed leverage from the markets where is leverage in the derivative markets that's where you get leverage you can hedge off a options

contract with 10 options contracts. that's what we're talking about right now and some of the muted moves as well because people are coulding this, getting educated or more educated all the time. the derivatives markets -- sully it used to be unbelievable if we had a day over 20 million contracts just two or three or four years ago that was huge now we're doing 35 million to 45 million in a single day. and it's- stacie tarting to feel the norm. >> wow. >> i don't think this is a trend slowing down i think this is something that will continue to see accelerate to the upside. >> yeah, all about market structure, i can't say it enough all right. let's add now to the conversation and bring in somebody who is no doubt champing -- it's champing by the way at the bit. brian belski he is bullish upping the target on the s&p 500 to 4,800. however, brian, this is television if i had to put you on the spot and say, of everything that we mentioned, if we had to rank the

top one or two risks out there i know you're bullish. but some client is screaming at you to take the other side how would you rank it? >> well, i'll steal a line from my good friend and colleague and client stephanie link. you worry when you don't worry and client was all over me this morning about only giving a 7% upside well this is the same client that's been massively underperforming for the last 12 or 18 months because they've been trying to time the market there is no doubt that -- that market corrections were defined in september but really bottomed out and finalized in october and that's what josh was really talking about. say to you get a 5% to 8%. which everybody and all the smart person strategists on the show try to call which is a fools game you can't do that then you got 12% or 15% upside from there, brian. listen, i think the number one

worry about i would have, quite frankly, is if some the of the nay sayer strategist bes -- you know who they are. come on the show and now i'm bullish backup that would make me worry because they would be forced to throw in the towel whether pressure internally or not but i think this market as i've been saying since 2009, 2010 is going down as the biggest bull market in history. and a 20 to 25-year bull market, one doubted, whether or not it climbed the wall of worry or whatever, but it's donna wonderful job of having the rotation alcorrections, done a wonderful job of transitioning from what we believe is happening right now from a momentum market to more of an earnings had been driven market. the multiple assumptions went down a full point because injures have been so strong. >> yeah. >> but i think the biggest thing that people are missing is that the strength of the north american economy and fundamental structure of north america favors that's why we're bullish on

canada 7 points lower than united states in a country excessively koorlt correlated to the united states you you want a back door way to buy value relative to the u.s. you buy canada. >> bank bm hochlt is bank of montreal i think it's the most vaxxed large country or one in the world. i think building passed us as well i have a question though i pointed out the other day. even with the markets going up, the forward multiple of the s&p came down. because earnings to your point has been spectacular but answer me this in your increase in target, you raised your earnings estimates by 10.5%, 210 a share for the s&p from 190 but only revised the target by 7% why the gap? why raise earnings up almost 11 but not the estimate on the s&p 500 itself >> great question, sully you know, we've been publishing targets on the market on the s&p

500 since 1997 and what we try to do is underpromise and overdeliver what we found, especially in the price side is we run a dividend discount model peu regression model i think i lost half the audience there but our dividend discount model has been excessively accurate. we try to underpromise and overdeliver. this is the second time we upped the target this year we did it in may and obviously yesterday. i actually think the 210 number is probably too low. the 210 is too low on earnings. >> wow. >> giving us an opportunity to be high are. i think the market could be high are than 4,800 but you don't want a pie in the sky type of market target without having the underpinnings of earnings. i think the irk earnings i think are being way too discounted stevrny talked about a earnings peak but if you think about double-digit earnings growth and 2% long treasury in a fed we believe is actually to be more

dovish than everybody else thinks i think this thing goes for a while. >> got to let you go brian, literally i'm asking you a question i don't know the answer to. so you love america. you love canada. what do we do just buy the tsx what's the best way for a u.s. audience to play the canadian market right now buy a uranium company and let it ride. >> we had the good fortune of nining poerlts six in mixture of canadian and u.s we runde a portfolio called anything but the big three four companies in canada not energy, not financials not materials. you got cool companies waste connections, shopify, ortizia. and the reason is their gdp is canada is kpevsive i tide to the united states. shopify, which you dido can buy on the new york stock exchange is the best way to reply it. we also run an all had cap etf in canada that represents things as well.

so i think in terms of canadian names, the financials we think would be the -- really the pick to click from a cash flow perspective, dividend growth perspective in terms of earnings discernability and stability that's the place to be >> oh, canada, there we go knocking one out for the home team in montreal brian bellscy. merci. >> watching the tsx folks. from the a macroperspective growth continues to, well, grow, the growth side meaning technology, biotech et cetera is outperforming value groups look at that like the financials, industrials, et cetera that's one reason that money continues to flow in or maybe that's why it's outperforming. bank of america flow data showing that growth etfs satisfying inflows a fifth straight week. value etfs did see inflows six straight week although the

growthinflows were four times bigger goingo going to josh's point but steph looking at the two popular etfs the iwf or growth and iwd or value, it's important to note if you think -- josh's point earlier in the show, you think you get beg big time diversification because you're getting a thousand think again five stocks. apple, goog. amazon facebook. make up 40%. if they stop going up? does that mean growth as a whole group stops going up >> well, growth is actually expensive. growth is actually trading at a 6.7 times premium to the market. historical average is about 2.6 times. i get it technology has change the world. i know it's not like it used to be but that's a pretty big spread, right. i think growth is expensive. that said, i always wanted to own both, a a little bit of value, a little bit of secular growth i want to have diversification

that being said, value is -- there is real value in value at this point in time especially since earnings are going up by about 6.3% for the year, better than growth and it's not surprising to me that it's financials are the biggest sector that's the cheapest. it's at a 6.6 multiple discount to the mechanic. comparing to tech at 6.3 multiple premium to the market so you have to pick spots. but you definitely want representation from both sides i lean more cyclical because i lean more growth in the economy and i think those companies are seeing better operating leverage going forward. but i have both. >> all right everybody sit tight here we're stepping out of the markets. because we have a news alert right now with meg tyrrell meg, what do you have? >> according to multiple reports two senior fda vaccine regulators plan to exit jobs this fall in october and november this was first reported by the industry publication biocentury

and since confirmed by multiple outlines including stat politico and end points they report that marion gruber director of the fda office of vaccine research and review and fill kraus, her deputy, plan to step down in october and november respectively. some of the reporting ties it to their frustrations around the process with covid vaccines. some of the decision making being put in the hands of cdc and outside advisory committee, some reports suggesting there is frustration with the white house over the process for booster doses of the covid vaccine as the white house announced they plan to go ahead with boosters at the end of the september before it's gone through the fda review process so, guys, we'll try to uncover more information about what's going on with the situation. but the reports that the two senior regulators are stepping down as of course the fda has a lot on its plate, brian, with upcoming covid vaccine reviews back over to you, brian.

>> before we let you go -- i don't want to put you on the spot ewe you're an ace. you've been ace best reporter in the country on this since day one. number one does it feel like a political bent here only because of what you mention the fda saying no boosters, the president saying, we're going boosters abdo you expect this potentially -- because i don't know how the boards are made up at all two people leaving, could that delay pruvrl for quizzed would it delay any approvals >> well, it's unclear right now if it could. we have seen from these reports the obtained -- they obtained a memo from peter marks overseeing all of the sort of agency within the fda that oversees vaccine. he is stepping in as acting leader of the unit as they search for replacements. but there is a lot of people at the fda. acting commissioner janet wood caulk reports suggesting she is not the pick for the permanent fda commissioner there is so much pressure on the fda right now. they've been through a year and a half of just moving at this

what they call operation warp speed to get the vaccines done without having spoken to the two folks i don't know what drove them to step down. but certainly the situation with the fda or the white house announcing boosters before the fda has been able to go through that is not typical. and so you do wonder does that contribute to it and some of the reporting suggests it is. >> we're going to find out more. the newsbreaking now meg tyrrell big news from the fda. let's get back to the markets. and talk about big technology. how is that for a transition all right. big tech is -- you might have heard on this network a few times in the last, i don't know, five years, big tech continues simply to climb. josh brown you own apple -- you own the triple a a asmusen, apple, alphabet. any reason or thought of selling those. >> not at the moment but i would point out the whole country owns these stocks. you think about the $26 trillion

in retirement assets that are invested in the markets right now. like everybody is in every pension fund, every insurance product that's got a market link to it, every 401(k), every dollar that's an index funds, it's like to be long apple, be long amazon, that is at this point to be an american investor you almost can't avoid it. so then the question is, like, well which of the names do you want over weight because you're already in pretty much no matter who you are unless you're in cash or gold the last ten years. you say to yourself, okay, i already have x amount of a exposure in my overall portfolio, including retirement assets, brokerage assets, et cetera is apple a good enough company that i want even more than what the market's giving me based on cap weighted indexes and active funds that track those cap weighted indexes and compete

with them? i've concluded, yes, it's been the right call apple is up like 500% the last few years. i don't expect that rate of return to continue but i do want to be long just because of how dominant they are. and go down the list it's hard not to say the same thing about alphabet hard not to say the same thing about amazon until something materially changes where that's not the case, yes that's where i want to be and, you know, i don't need to have above market returns in those. because i'm not row reporting my alfa to anybody. wits just what i personally want to be long. >> you know, liz, i would say we talked about risks at the top of the show and don't know what's going to happen. but i don't think we could say there is zero risk in the names. you at the we know the biden administration talked about regulation the private sector talked about maybe monopoly power or breaks break jums there is a regulatory risk in pretty much all the names that josh mentioned

we talked about the app store issues, how big is amazon going to be? does google control toocht of the online ad market. >> there was definitely regulatory risks there, not nearly as much regulatory risks as we see in china tech right now. but still as long-term holdings, i think the names are -- they have huge opportunity going forward. if we're talking about the short-term it comes back to do we buy financials or tech right now? in the short term i leaning towards financials but overall long-term tech is the prosperity of the american economy. and the names are at the crux of that prosperity. regulation or not people still have demand for the ames, demand for them not only as stocks but product providers >> pete, you got a view on tech? >> yeah, love it as a matter of fact, i think most of the names whether it's microsoft or we go to josh's side with the technology side and we go to the semis and we go

to something like nvidia, facebook, across the board, brian what i've been doing the last couple years has been when i feel like there is opportunity for more momentum, a move to the upside, i not only have the stock but then just double up by having calls in there as well to the upside looking for the shorter terms moves as well. i'm doubled up in many of the various names, facebook and apple right now. it was microsoft just last week. looking for the kind of moves where we see the breakout to the upside i think right now the technology space has incredible room to the upside still all the names apple, facebook, or microsoft wherever you want to look i think there are many, many names out there actually might a look like the pe is high but you have to understand what is the company now versus two years or three years ago different companies and they've got different revenue streams. that's why i think some of the pes are -- they're not as stretched as people think. >> i'll give you had a shoutout. i've been filling in for scott

on this program for years now. you've been riding the microsoft train since they rolled out the stupid animated paper clip congratulations on the great microsoft call clippy. let's put action on all the talk more team moves. stephanie limping beginning with you. you sold out of one name bought another. you added also emerson not a name we talk about a lot >> no, i know. union pacific i sold kind of disappointing actually they beated raised and barely done anything all year long. great company, great management. o.r. can continue to responds. but i just think that emerson is a better story better order molt momentum into fiscal '22 and they benefit from the price cost hend nds reversing next year they have a strong cash flow five% free cash flow yield 25% discount to the group. like emerson it's now my largest

bigger than boeing that says something and you get a nice yield while you wait for the recovery on aptiv a new name i owned in the past it's dropped 10% from the high because of the supply chain issues i think this is the best auto parts, auto tech ev play in the industry not cheap. but this is the best in class management team where they're growing over market. last quarter grew over market by 17%. they are taking market share have good products and so i'm back in. >> there you go. josh wsh this is a name again i'll give you a lot of credit like i did op on the microsoft cull long and right on this but time to sell why now? >> i'm in the stock like i think almost 10 years. and it's obviously a larnl gain. one of the best performing stocks maybe of all time since the ipo. but as much as i come on and talk about tuning out the noise and talk about, liking with

ignoring volt volatility and riding through it and i've done that with mastercard sometimes the cost world does materially changed and sometimes you are forced to reevaluate whether or not the risk reward is where it was even in a stock you have fall 199love with as i have with mastercard there was a major development yesterday i don't think anybody in the payment space can afraid to ignore, especially the big credit card companies that feast on e-commerce. and that was what amazon announced for the firm so having that ability to pay in installments versus racking up credit card debt for higher interest rate for the consumer amazon sees this as the right thing for their consumers to offer this and amazon is going to turbo charge worldwide acceptance, especially here in the u.s. but worldwide acceptance of this format of paying verdicts high interest credit cart debt. by the way, you ever notice

interest rates have been zero rates for ten years. credit card rates haven't come down this is a great business but slightly less great business now. square bought afterpay, another installment pay names. i can't ignore any more that high interest rate credit card business is now very much at risk in many aspects of our lives. you look at the stocks relative strength at 36 it's one of the only large cap growth names going down while the market makes new highs and i just felt there is more risk to the downside than there is potential reward. so i exited the position and i thank everyone at mastercard very much for all that they've done over the years. >> it was under a hundredstock five years ago 350 today. watch clarina in sweden as well. all right, zoom, all doom and gloom, today at least. shares hammered despite hosting the first ever billion-dollar quarter. we find out why. in your call of the day.

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today, testimony beginning for the fraud trial. prosecutors say she swindled joie de vivres and put hundreds of thousands at risk with blood test technology that didn't work she pled not guilt. walgreens the latest company to raise minimum wage, starting in october, it will begin increasing pay to at least $15 per hour the previous minimum wage was as low as $10 per hour. and it's now darder is no longer in danger. it was notesious as a blocking a dam projects in tennessee. no longer ebb endangered brian, back to you. >> i had next month on fan dual. shares of zoom sinking despite beating yesterday. you sold the stock in june i'm sure you're glad you did in

june. >> i think zoom is a great company. but this was always going to be a story about tougher camp rowe comps. it's unavoidable the best example is my kids are both starting school this week neither one starting -- there is no talk of zoom classes of any kind one going to high school, one going to middle school and they're doing five days a week of school, not hybrid, not, oh, oh if there is infection uptick in nassau county might be zoom for two weeks. it's not happening that's one small example another one is talking to clients where we did the zooms like the most important thing. they're like, dude, just hit me on the cell phone i don't have time for that stuff. i feel the same way. the comps are tough going forward. that's the problem with the company. they had great results but this is out of their control. we're doing more stuff in person now. and that's how it's going to be going forward. >> true. steph. at&t added to citigroup positive

catalyst watch list. whatever that is but you own it. >> i do own it it's been disappointing down 5% year to date, down 1% in the past year but trades at eight times earnings we know they cut the dividend from 7.5 to 3.5, 4%. still attractive in my book a diversification story. i like the asset sales they focus on core operations. i like they have a lot to do in cost cutting they are simplifying themselves, shrinking to grow and i like the stories and i yet the yield while i wait >> good stuff. all right. stay us with us on "halftime." pete's latest trades in unusual activity they are next. rbc is highlighting companies popular with esg fund rg managers but less so with general investors. several are significantly outpacing the s&p 500. which is up 18% in six months.

on the list, agilent tech pl and edwards life sciences waste management all up 40% in the same period. showing more invesrs atore pouring into these stocks. that's the esg fast fact of the day. what if >> announcer: esg fast fact is sponsored by morgan stanley. cos offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley.

all right. time now for unusual activity. pete, fxi and merck. what are you seeing? >> i'm starting off with merck for you brian. a stop sort of trapped like mirks often times does just below 77 here we have a monstrous trade here and it's unusual because they're out to december. everything hells has been short-term they've gone to december buying the 82.5 calls. all in one print for a dollar. that one definitely stuck out for me someb somebody looking for the namet break out to the upside. fxi going back 10, 11 days ago we saw a turn in buying in chinese names but specifically in the fxi we started to see them buying

the 39 strike calls out in september. now buying again but all the way out to december again. that's unusual and they're buying the 41 calls. bought 11,000 of those calls, brian. so very aggressive buying in that name once again and looking for more upside out of the chinese stocks. >> got it. pete thank you very much all right moving on, crowd strike reporting earnings after the bell it's been hot. shares morning doubling in a year coming up we'll debate, there is still time to add it to your portfolio. that's next. ♪ you probably think visa is a credit card company, huh?

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constantly improving america's largest gig-speed broadband network. and just doubled the capacity here. how do things look on your end? -perfect! because we're building a better network every single day. welcome back it's been a good month for cybersecurity stocks and that's an understatement crowd strike up 12% this month and up over 30% of the year. reporting earnings after the bell josh, tell us about crowd strike, you own it >> yeah, i mean, it's tough, because, you know, this is a stock that is up -- this is a stock up like 130% over the last year or something. the s&p is up 30% a in thatsam period of time so it's already worked it's been a huge performer now the stakes are higher. i think you need a big beat in raise thp they're supposed to do 323 million for the quarter and

earnings and nine cents per share earnings if you don't get upside on that plus raised guidance for the rest year, stock pulse back. i would not be chasing them here if you're not in it. if you don't get a selloff and chance to buy tomorrow so be it. but to me that's a better way to get than to hope and gray for a great upside quarter given how much the stock is up i love it. but i don't want people to think they're buying a cheap stock here, because they're not. >> liz your take on the space. >> yeah, i mean, i think that it's not just a good month for the space, i think it's a good era for the space. as digitization continues moving forward and catapulted by covid-19 wray needing cybersecurity. and something interesting about it, is that cybersecurity stocks have over a long term period a 0.98 correlation to technology but over the last six months that's coming down to 0.89 still high but come down and what have the last six

months been about, interest rates? it could suggest that cybersecurity is a part of tech not as sense i have to rise as we move to rising rates cycle, probably a good place to be. >> all right good stuff there ask "halftime" is next thp there may be time to send in questions by video playing some not just today but down the road on the air as well uk email us as askhalftime@cnbc.com we're back right after this. ♪ dream, dream that's the thing to do ♪ ♪ music ♪ when you see value in all directions, you add value in all directions. accenture. let there be change. what happens when we welcome change? we can make emergency medicine possible at 40,000 feet.

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welcome back the investment committee is answering some of your questions. first up, this one goes to stephanie from andy in iowa. what are your thoughts, steph, on plan? >> i like it it's all volatile around the quarter. if it would be weak on the quarter, i would absolutely buy more it's down 13% year-to-date it trades a discount to the group. it's a play on enterprise spend recovering and we've seen that, work day, cisco, microsoft, network appliance all have started to see improvement in enterprise i.t. spend. this is on that theme. you have a new cfo who is going to do a much better job in terms of execution and communication >> all right next up, for josh. and it's john from michigan. he asks, do you think the long term trends for upstart holdings continue you had the name as one of your

second half picks back in late june on this show. stocks are more than 80% since then great stuff. what do you think now? >> i was just going to say a lot of the gains that i would have expected in this stock over the next couple of years have just occurred in the last two months. and that's because this company's executing. if you remember, they are being like the fintech outsourcer for all these banks that can't build it themselves to originate loans on the internet. and they were keeping a piece of that as part of their upside it's a set business. it's up huge what i would do if i owned the stock already and you expect more gain, i would probably use either a 10 or 50-day trailing moving average and i would look at that on a weekly closing basis, the 50-day. if you see a friday close where this stock closes below its rising 50 day, that may tell you

the trade is over, time to exit kind of thing. that's how i would handle it from here. >> from james in st. louis, having started a roth on my 30th birthday, i'd like to add a longer term etf like qqq or jepi or something else? >> i'm jealous that you're only 30 that means time is on your side. i have a better idea i would do the etf that is the s&p and split it with a small cap etf because you're going to ride through a lot of market cycles there's probably good diversification in those >> thank you all very much and thank you for sending in your questions we're going to take a short break. final trades are next. the financial watch out that gives you the options and extra time needed to help you avoid an overdraft fee. it's one way we're making a difference. low cash mode on virtual wallet from pnc bank. zero-commission trades for online u.s. stocks and etfs.

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all right, cnbc viewer, if you are looking for more stock picks, don't miss my chat with amy zhang tomorrow at 1:30 p.m. eastern time we'll talk about her smaller and mid cap picks. she always brings new names. 1:30 on cnbc pro if you're a member, sign in. if you're not,ig sn up final trades, meantime, are next right after this esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions.

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all right. time now for your final trades pete, kick it off. >> all right i'm going to give you capital one, brian the reason i am is when you look at what this company did last quarter and how they pushed earnings, now they got a downgrade, i think this is the name that's the opportunity now to buy >> liz >> as a surprise to absolutely no one, small caps, and more specifically small cap growth. they're trying to make a comeback, and i like growth particularly for the health care exposure >> josh? >> i think the paypal sub$300

per share trade is leaving the station. i own some, wish i owned more. if i didn't own it, i would be a buyer today. >> gap stores. i like the restructuring story just beginning >> thank you all right. thank you everybody for watching "halftime report." i will see you tonight at 5:30 on "fast money" and 6:00 for a special as well. "the exchange" begins right now. thank you very much. i'm kelly evans and here's what's ahead this our on "the exchange." another big data mess. the u.s. was e supposed to be getting back to normal by now but the spread of delta has put a dent in that story we'll recap the data and tell you how to position out of friday's crucial jobs report the supply chain was already broken and then hurricane ida hit. how do we get stuff moving again, especially with the shortage of truck drivers? we'll speak to one company on the front line