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tv   Fast Money Halftime Report  CNBC  January 31, 2022 12:00pm-1:00pm EST

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know this can happen the question is, will it continue to happen will it happen again or is this pop the end of it? >> to think that last week was all the volatility, we ended almost where we fwbegan. >> we're going to get through amd and ford and meta this week along with the jobs number, let's get to the half. welcome to the halftime report front and center this hour an impressive rebound for stocks or uninspiring that's the debate. what does it leave your money now? joining me today, liz young, steve weiss, jim, joe. let's check stocks as we always do wrapping up a brutal month you know it by now for sure, nasdaq is the big bouncer today. up nearly 2.5% at least at the moment by four
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or five points, it's doing just that recapturing 14,000 today dow's good for 116 ten-year note yield. it will be for the weeks and mon months ahead joe, where does this leave us heading into a new month >> well, i think this is clearly today last trading day of the month, the most obvious rebalance that i've seen in recent memory. you're seeing all of the sectors in the equities market that have been unz performing year-to-date, consumer, discretionary, technology, they're leading the market financials, industrial, energy underperforming then the hyper growth story coming back once again. so within that, you could look at a twilio, a crowdstrike, palo alto networks, that's what i would be focused on. i think the bigger picture of
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this market was that you posted a low in january and the market is pattern matching exactly 2016 if you have the chart, please show what i give you guys before the producers. 2016, you had a selloff. november peak. market sold off aggressively in january. retest in february and that was the best outcome because the market was clear sailing higher from there. so i clearly think what's going on here over the next ten days is you may get the retest of the bottom from last monday. you may not. but i think there are names that you're going to go in right now and be able to buy and you're not going to get hurt, but they're not the names rallying today. they're the names where you've got the free cash flow generation present they're high quality in their nature and a lot of them are large cap. remember, scott, small caps broke through monday's low on friday so i don't see the all clear for small caps it's large cap it's qualify it's the big megacap names we know
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>> so, liz, we enter, we're going to enter a new month and we're still asking ourselves this question of whether we bottomed last monday had a nice rebound since i'm curious to know what you think as to whether this is a sell the rip kind of a market. you've got a nice move in the nasdaq as we just showed you we've had a nice rebound morgan stanley's mike wilson today says he's uninspired by last week's price action we would be sellers of rallies we remain uninspired despite strong earnings prints we're seeing a classic bear markets action so in essence, he's doubling down on his negativity what do you think about that >> so i think last week's action in the big swings that we saw intraday, that's probably over that was probably as bad as it gets from an intraday swing standpoint but i don't think we're done with this volatility you have to look at what's happ happened in the nasdaq year-to-date, we're only one
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month in and if this move holds, this would be the seventh day of a move like this the vix above 20 now for two weeks. above 25 for six trading days. i think it stays elevated here then the question is what do you do with your money knowing that rate hikes are probably coming in march and that we're em embarking on a rate hike cycle if you look at the patterns of wa what happens in the markets leading up to rate hikes and what happens afterwards, generally speaking, cyclicals do well into the hike then we have choppy markets if you can wait six months out, things start to strengthen you see tech come back in. communications, and things stabilize, but you have to have the stomach for it i would stay on the cyclical trade for the next 45 to 60 days then you have to wait it out i don't think this volatility is over the fed hasn't even moved yet. >> eiss, are you a believer in
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all of this or are you as uninspired as mike wilson appears to be by the price action in the market last week >> well, i'm inspired to trade it so if you recall, i'm sure you do, i sent you a text on friday at 10:17 in the morning 3:17 my time in london, i said i think the market's going to go green today. i said i'm massively long the qs and i stayed long and i'm going to sell those into the close today because i agree with joe it's a massive rebalance so the world's not changed as a matter of fact, i think it's going to be the same pattern that liz mentions where we're going to be trading it so it's a trading market i'm going to keep my core positions, which are companies where i believe that they'll continue to generate cash flow most of them free cash flow in size, and that's where i find value. i also think that you're going to want to own, continue to own as i do, the large cap growth stocks because they've been defensive and they're going to
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perform. they're cash rich. so it's going to be a volatile market, going to go up and down, but i don't think it's over. you had record multiple expansion from record easy money. you've got to believe that what goes up must come down so multiples are going to continue to contract and days like today and days like friday only give you opportunity to sell what you regretted not selling the prior week so, look, i don't think there's any disaster there, but i think it's a trader's market joe i'm sure is actively trading the futures. i'm with him in trading it i think that's where i'm going to be while maintaining my core positions. >> i guess farmer jim, everything depends on yields and that will remain the story moving forward if you're trying get a gauge on where stocks are going to go. david coston is doing that says really if yields move to zero, you could get 4,000 on the nasdaq i just don't feel like there's a lot of conviction to say that the bottom was in or there's
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smooth sailing now, that we overdid it, we're oversold to the downside that may get you a bounce, but i don't find too many believers. maybe we'll get one when adam parker comes on today. our headline guest farmer jim, you were with us every day and i started almost every program off with you because of your call that monday was in fact the bottom now you've had a week to digest all that we're putting in a dismal january. here we come to a new month. how do you see it now? >> we're 6% higher than last monday i'm willing to move past the moniker of you know, the farmer jim bottom because where we are now is you have to look forward. when you bring up yields and when we talk about the fed, i have to be clear about my position here. i don't think that yields are the fed are the reason that the market's going to go down. i think those are the reasons why volatility is going to increase, but i believe that you need a catalyst in order to make
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the market go down now that could be anything it could be russia versus ukraine. >> catalyst? what do you mean i don't get it no no i'll come back to you. no, no, no i'll come back to you for a second because you know, frankly, when you say there's no catalyst, you're telling me that a new fed regime, a more hostile fed, isn't a catalyst enough has to be some exogenous event or a war in europe to wake you up >> scott, yeah that is what i'm saying. that's exactly what i'm saying let me be clear about this the bull market is in tact anybo anybody who's calling for a bear market is absolutely wrong you look at the last time russia annexed crimea they did it in february of 2014. the s&p was up 12% on average the next four years. point being, that's not what moves the markets. profit cycles are and that profit cycle is still in tact.
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all the fed is doing is increasing volatility. as far as it not being a catalyst or being a catalyst, we've discussed it for the week. it's time to move on we've got people out there saying seven hikes this year 50 basis points in march i think that's ridiculous. i'm telling you, you need to now look forward at what the next issue is that can knock the market down. it's not just the fed. you need something else. >> i don't know, joe i don't know if farmer jim spent too much in the fields this weekend or what and whatever he was doing there. sounds a little out there to me. the fed regime, powell was all aggressive and hawkish and jim says doesn't matter. >> not anymore >> i'm with you on that one, scott. jim, you know, no disrespect, but i wish we'd stop using the words, the market. right?
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because i think used the words, the market, is incorrectly going to lead people to make decisions that are going to be wrong we've all said volatility is here to stay scott has defined the federal reserve environment. there's no clarity with what the federal reserve is going to do, but let's stop saying the market and let's identify where opportunities might be exist because i'll tell you what, with the way the tape is trading today, i'm sorry i don't want to give into the temptation of buying these high pe, hyper growth stocks or small cap software that are on this rebalance or rallying so aggressively i think you're going to get a retest in february and there's names you could by, but let's talk about a market of stocks and what we could be buying in that environment it speaks to exactly what steve's talking about. trying to identify companies
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that are large cap in their nature and have that strength. i know cathie wood has said innovation is on sale right now. no, scott, qualify is and i would absolutely be a buyer of that quality s >> so, weiss, i'm glad you had a little bit of a moment here to digest what farmer jim had to say. i purposely didn't come to you right after that because i was afraid you'd come in too hot and i didn't want that to overshadow whatever message you would have. but let's discuss this jim says the fed is no big deal. going to cause volatility. you could find any number of descriptions to describe what is a different federal reserve today than existed six months ago in terms of what it is doing within the market and what it plans to take out and then the ultimate effect it's going to have on stocks, valuations, earnings down the road, et
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cetera weiss. what do you think? >> you did the absolutely right thing, scott that's all i'm going to tell you, by giving me a minute to think about things >> been doing this a while with you guys. >> yeah. we've been doing it a while together since day one. like a stage four pancreatic cancer patient walking into an oncologist and the doctor says, hey, let me look at that temple. this is not what's going on. the stocks are, stocks are in a bear market, period. the indices don't reflect it, but stocks are now they'll bounce here and there, but you've got a massive tightening cycle and to think that the market's already discounted it before the first hike happens i think is sort of ridiculous so, look, you'll get period of volatile till as we've all said, but there are certain stocks that aren't going to work. those are cathie wood stocks nothing against her, but she's got to recommit because that's what her etf tells her to do
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she's got little flexibility in terms of how much cash she's going to have and what she can own. so she can't all of a sudden switch so let's ignore what she said. i stick to what i'm saying >> everybody's got a bias, right? >> absolutely. >> everybody's got a bias. everybody talks their own book the fact of the matter, inflows have gotten into the ark funds and they're up 8% today and she's become a punching bag in some respects and we're going to see how it all plays out, but not all investors are giving up on the prospects of cathie wood you know, being able to right the ship, so to speak and that these stocks will have their day. albeit it may take a while jim, i'm going to give you a chance can't just throw these darts at you and not give you a chance to throw a little back or at the very least, respond. ed thinks not only are you going to have more volatility, he's
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moved his s&p target now that he had in place for 2022. he's moved it into 2023. it's not going to work out that way. in large part because of what the fed is doing so make your response here then let's move >> so, yeah. i'm surprised but pleased by the degree of veement. usually means i'm right. can only say now the backdrop san aggressive fed we know that this is the point that i was trying to make last week with when people go to seven rate hikes this year, it's like six minute abs come on, fellas, we get the joke but in order for the market to go down, now the fed isn't enough the market knows that. it's like a chemical solution waiting for a catalyst the bad news is, scott, i would like to make this point. there are plenty of catalysts out there. it's not just russia, ukraine. it's upcoming midterm elections.
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it's a continuing resolution for this government's budget that runs out in three weeks. there's any of a number of catalysts out there. my point is now the fed has the backdrop for higher volatility in the market, but that's not enough on its own for it to go down you need something else to precipitate out of solution the conditions that we're in >> you're going to stick to your guns that's fine. let's bring in senior markets commentator, mike santoli -- go ahead, jim >> that was steve. >> no, it was actually joe i'm going to santoli how about that you guys know better than that assuming he's listened to the conversation, mike, nice to see you. and really, the conversation part of it at least is to
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whether what grade you would give the correction we just had if it was quote unquote successful enough in weeding out some of the excess that existed within the market, but you can opine on what farmer jim had to say as well about, i mean, it's almost discounting completely this new fed regime. >> or suggesting the market has largely absorbed it. i think that's one way to maybe characterize what's going on i would grade the correction as saying it's absolutely passing it's achieving much of what a correction is supposed to do it's not the same as saying it's over and last monday was the low at 4222 in the s&p maybe it was there's a lot of things that say it should be a decent spot to actually you know, use as a reference point for your potential downside from here tactically, but i think you have the valuation compression everyone's been talking about.
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has gone on fair distance. 19 times earnings for the s&p 500. that's not cheap but the small cap 600 is really cheap at like 13 times nobody wants to buy them, i understand that, but on a relative basis, the typical stock out there has taken more punishment than the indexes have sentiment got pretty washed out. you had retail investor surveys showing multiyear lows in bullishness. at the same time, record volumes in defensive put options, so it seems people have their guard up just on the point of whether the fed was, the message was absorbed all the talk from powell in basically saying we're going to look for flexibility to hike more, not less, annd the streets cycle of talking themselves into ever more hikes have all happened since the s&p hit that low. that was monday. so yes, it was a choppy week yes, we've had these scares along the way and maybe we're going to get more of them, but
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all of that talk did not create a new low. final point, joe was talking 2016 it seems like the logical kind of episode we'd go through in the first rate hike in the cycle when it seems like badly timed it also seems inopportune. even though the economy might be ready for it, there's reason to feel like it could turn into a mis mistake and that's something you have to be aware of. very different economic conditions otherwise in 2015-'16, but i think that crowd spsychology aspect the there >> goldman today says five hikes. i think jpmorgan on friday moved up to five bank of america is at seven. that's an outlier for the moment surely, mike, seven hikes has not been absorbed by the market. i think we can both agree on that has five -- >> seven hikes in the absence
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of -- look, first of all, there isn't an actual answer to how many there are going to be in an envelope somewhere and we're just trying to guess what that is the fed doesn't have the answer. it's all about a dynamic process of how's the economy going to respond? is inflation going to crest and come back? what does that mean for their intentions to get back up to some kind of a normal rate and just rebuild that cushion in rates and roll the balance sheet. they're probably going to try to do as much they can do as financial conditions allow them to do assuming we don't have some kind of spill in the labor market so i feel as if every one of these predictions is plausible and i don't think that you can say that any particular number is priced in unless you want to look at the fed funds futures and treat that as some kind of wisdom of the crowd's prediction, which history says it isn't >> it's been bleeding the market all of those have been at contract highs before the i
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think in the investor community at large has kind of gotten there in its own right appreciate it. let's bring in our headliner now, adam parker, founder and ceo of trivariate research welcome back >> great to see you. >> two weeks ago, you said the following. i noted it that day and i mentioned it on the program and i'm going to do it again because it was pre-fed and pre-correction where you said quote, people are really out of their minds if they think the fed is going to raise four or five times this year and four or five times next year i don't see how that's going to happen i'll take the understand you heard jay powell speak you still want to take the under? >> for sure i do you know, i think the comment santoli made at the end and i agree with, it's really the perception the market has in interest rates and what they're going to be like in the future and i doubt that rates will
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change that much i think people got too hawkish, but you know, i kind of agree with joe's comments in the end of the day, which is we need stocks to buy and stocks to sell we just came out with like seven buy short themes with the stock ideas and that's what i've been focus focusing on with my investors. our agenda is to help our cli clients make money i did upgrade technology from an underweight to equal weight. if i look at historical downturns, we guess maybe 80% of the way through this one the only ones that are worse are covid or european financial crisis or great financial crisis i don't think we're in that situation here so our view is okay, let's look at what industries work. if we're 80% through the downturn through three months after, let's look through what signals work and that leads us to the portfolio recommendation. i think it's a good time to stop getting so negative on
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particularly the growth universe and start to add some there over time >> i'll get to that in a second, but isn't the risk to the upside on rates i almost feel like you're in denial about where we are and what the fed chair had to say. got a new fed regime they talked about that sort of laid the ground work as well for balance sheet reduction. doesn't that factor into the way you're thinking about it >> sure, it does we look at how markets trade significantly to change the perceptions of rates and the reality of it which signals work, but scott, remember, there are hockey rings full of people at the firms you mentioned who memorize and follow everyone at the fed and what they do and they consistently get it wrong about what the fed's going to do because the fed doesn't know what they're going to do my view is the fed are the smart ones they have access to all the information. they're not going to raise rates eight times or seven times in two years unless the economy's
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awesome. so let's focus on what matters corporate earnings growth. that's what jim said and i agree. if earnings are higher in 2023 than 2022, the market's going to be higher. you can fight that all you want. i wouldn't i think what happened is a garden variety growth scare fueled by excessive hawkishness now maybe if we're backing off and being political, we'd say the probability 23 earnings are below '22 is higher now than it was so that's because the fed may be more aggressive and maybe at the time, things are slowing and they get it wrong. maybe that's possible. but i still think your base case is higher earnings in 2023 >> you, you know, i don't know, i feel like we have part of this conversation every day you used to put your ccms on, too, and skate around that rink with everybody else and now that you're no longer there -- >> i was in a longer perspective than you, scott. last year, we came on.
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we were bullish on equities. said energy's our number one sector energy was up 55 people gave me a hard time every time it's your horizon window the market's now more than i thought it was going to be in january. off lot of reasons for that. big change in perception about rates fuelling into a growth scare. sure but if i look at with any perspective, i focus on what would make me want to call a top. it's around management areas gone awry. it's capital spending, hiring, inventory and margin progress, fancy new headquarters i don't see a lot of corporate excess i look back at the last 20 years, when did plotting any of those things on your computer, i think jim said the word, crimea. i typed in cyprus, banks in italy, every time it went higher i don't love the 2016 analog, but we didn't have a faang
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it was just becoming an acronym then there was always a perfectly historical analog and i get things are always a bit different. i think corporate earnings are likely to grow i think the opportunity of the growth stuff that sold off the most to me is biotech. did you know that only 15% of biotech companies generate free cash flow anyway so this whole terminal value argument because rate rs rising doesn't make sense to me but meantime, the wholesales pipeline is the same i'd probably be picking around there looking for innovation that's on sale today and the rest i agree on free cash flow that's where you've got to focus. >> let me give me on this increased exposure to growth >> sure. >> how selective within that complex do you want to be? are you suggesting now's the time to buy some of the archark type
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higher valuation stocks because they've been too overdone? >> we know if we get directly dovish sentiment they're going to rip i'm not recommending that. i'd say of that maybe the biotech, we think you short profit with software stuff with deaccelerating revenue growth to me, it was a microcosm of accelerating revenue 27 times forward sales and negative free cash flow. i'd rather long the biotech invasio innovation against that. most are in the positive free cash flow, maybe crm or microsoft or tech where expectations are low like i like dell a lot here where i feel like negative revenue expectations have been in the consensus i love unh and healthcare services that are pricing power. so there's things you can own. obviously we still love energy and materials. still are top two sector recommendations in the market and we continue to think they're
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massively dislocated with tremendous upside. >> you've been dead on with that call and you deserve props for that i appreciate the conversation as always talk to you soon >> good to see you guys. take care. >> all right you be well. adam parker. all right. coming up, we're going to take a quick break. it's the worst stock in the nasdaq 100 this month. steve weiss owns it and he's going to be on hot seat. plus, committee moves to discuss.
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here is our cnbc news update at least five historically black colleges and universities have reportedly received bomb threats this morning bethune cookman locked down after receiving a threat earlier this month at least eight historically black colleges reported threats in a single day. boris johnson apologizing for attending parties during covid lockdowns. he said the government can still be trusted >> firstly, i want to say sorry. and i'm sorry for the things we simply didn't get right and for the way this matter has been handled. it isn't enough to say sorry this is a moment when we face ourselves in the mirror and we must learn >> meantime, opposition labor
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party leader stammer slamming johnson for ignoring covid rules and not showing more regret before today >> by routinely breaking the rules he set, he took us for fools. he showed himself unfit for office >> you are now up to date. scott, back to you >> spicy stuff thank you. all right, let's talk about moderna. down 35% since the start of the year it's on pace for its worst month ever worst performing stock this month off nasdaq 100 steve weiss, i need to know what you are doing with this stock today and how you are positioned and i know that our viewers want to know as well. >> sure. i bought a little more this
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morning. last week, when we were talking about it, i tweeted out that was the first day that i wasn't hedged in many, many months. i've said repeatedly on air and it's in my disclosures that i've been selling calls aggressively and buying puts. and so that's what you do with biotech stocks that are event driven during levels, it's open season for the shorts and it gets heavily shorted by hedge funds who you know, push whatever story they want to push, but right now and since we discussed it last week, i have no protection on it so i'm a straight long the fundamentals have not changed. they think the fundamentals have gotten a lot better. it's not just moderna. b biotech was the worst last year. pick one some have completely blown up. that's what happens in biotech and why you have to hedge your
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positions. the pipeline's grown over the last year from 23 to over 40 they have 15 billion in cash they've already sold, booked, although it doesn't show up until they deliver, 18.5 billion in vaccines for 2022 with options that governments and institutions have taken on 3.5 billion. so this is so much more than a covid company as i continue to say, but like any other stop, they're event driven some decline between earnings. some between results and trials. so my fundamental view hasn't changed. i recommend that's what everybody does as i said repeatedly >> good stuff. i appreciate you going into so much detail. liz young, that plays into a bio tech conversation. that we should be.
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what do you think? >> let's take healthcare trading about mid pack i think it's a great place to hide out during rate volatile till then you break it down further. look at biotech and pharma and know they're more growthy in the healthcare sector so they're going to see more volatility as we have rate news, but then you have healthcare equipment and services which balances that out. i think healthcare is a great place to be here and a great place to be for the long-term. i used it as my find trade last time i was on. >> okay. joe. you are stopped out of interactive broker at 5 bucks. lamm research and teradyne were disasters last week. the money that came from those investments went into goldman
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sachs, which is a new position take me through that >> i had owned lamm research since march of 2021. terrible report. i owned interactive brokers for a couple of months it has done nothing but deteriorate. i think retail participation is doing to decline further so i had to get out of both. i wanted to go into a financial institution and i went back and looked at goldman sachs, i know jimmy's going to be happy about this i sold it at about 355 post earnings picked it up a little lower. it's a company i know. it's a company that when i survey all the capital market financial institutions that i have able to me, it still scores the highest. that's why i went back into it i had cash available to do it. on the other side, lamm
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research, i wanted to be in semis. lisa, her guidance is very strong i sold lam research early january at 128 amd, sorry sold amd at 128 early in january. able to pick it up below 105 i want exposure in the semi space still even though i'm out of lam research. no problem buying it there i think these are the type of opportunities you want to look at in the market >> okay. still ahead, we'll tell you the etfs you need to watch today, plus, joe was just talking about some semis they're higher today still on track for their worst month since 2019 we'll give you the trades and a new stock buy. that is next on the half
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after being ignored, dividends are hot again. why? let's talk to -- who runs the dividend etf that holds the stocks that have increased dividend payments annually for at least 25 years.
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i reported friday we're seeing record payouts this quarter from the s&p 500. halliburton, le nared, wells fargo. why are they hot >> i'll take odds with your first comment because we've se consistent flows into noble. not just to focus on the folks who have a cyclical opportunity to do a large dividend increase, but the consistent ability to do so at the decpths of the pandemic, grew 14% in 2020 10% last year. that consistency and quality is key, but to your point, timely, absolutely it's a very important hedge against inflation. growing those dividends consistently and in excess of inflation are really important and finally, dividends are suc
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a powerful signal. nobody wants to cut a dividend if you increase it, that's management telling you they have some confidence going forward. >> with lower expects returns, a 2% dividend yield can make a big difference in your total return. let me change the subject a bit. we last had you on in october when you launched the first bitcoin features etf that was quite an event. prices went up going into that launch, but essentially, they've been moving down since then. how is the bitcoin etf trading how well is it tracking bitcoin? >> i think that's one of the most powerful stories here we've seen continuous inflows even during this downturn in prices so that in and of itself is an important comment on the staying power of bitcoin and crypto currency so that's really important. we're seeing very good tracking to underline spot bitcoin. the fund is doing what it's supposed to do and it trades
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very, very well. in fact, bitcoin volumes into the futures market that bitcoin follows is actually trading substantially more volume than the largest u.s. bitcoin exchange so there's a lot of, there's a lot of volume. there's a lot of liquidity there's a lot of trading in the etf in very good tracking spot >> we're going to have much more on why dividends matter in 2022 on etf edge. we'll be joined by todd rosenbluth who will help us sort through which dividend etfs you should own in 2022 plus, dan egan at betterment we'll be talking about the recent collapse. that's, 1:00 p.m. eastern time halftime back right after this ♪ ♪ wow, we're crunching tons of polygons here!
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get started with fast and reliable internet and voice for just $64.99 a month. or, ask how to get a visa prepaid card with a qualifying bundle. joe sent us a note saying that after the bell today, he is going to be buying a stock and he wanted to tell you about it and we're looking at it on the screen tell us about nike what piqued your interest here
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>> nike is a name that for the last couple of years i've known well it's a name i've known the value of this show really, scott, is the authenticity that we all bring to it last summer, i was obliterated sold nike at 125 literally, the day before, it had the dramatic spike up higher i sat out on the sideline, but now the market is giving me the opportunity to buy quality it trades at a reasonable valuation. i believe we are going to be moving to an endemic environment. that bodes well for reopening. vietnam, which is manufacturing a lot of nike products and let's remember in the last quarter, china was underperforming, clearly. you're going to see a revival of the growth for china and the revenue contribution as we move forward in the coming quarters certainly with easier policy on the monetary side from the chinese. so overall, i'm going back into
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the name, okay i took my criticism for what i did last year. i accept it, but this is the perfect spot to get back in the spot where it is i'm going to buy it on the close. >> buy it on the close it's 18% off of its highs. down 12% this year and joe, i'm looking at a one-year of it on it's not that far from sort of a flat looking move from a year ago until now. >> well, it's fallen off as you just defined it's fallen off significantly. so it allows me to take advantage of a name that i know and i suggest to all the viewers right now with markets trading wi with this volatility, focus on the stocks you know well and those are the stocks you want to be positioning in or building positions further or establishing positions go with what you know.
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>> 177ish. looked like the high later in the year around november or so to where as we said, it's come down from here again, joe telling us he is going to buy nike after the close today. there's a look at the stock. we're back with more trades right after this your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit
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okay we have another new buy during the show
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steve weiss bought netflix, up 10% today. you've been on this very a long time and haven't owned it. why now? >> that's true look, the stock is over 600. the truth is it should have bought it when joe bought it when they missed the earnings because there was good feel to the stock. but, look, buying 20 million more means nothing with all he owns but it shows some confidence more man that, other people like the stock. earnings are out of the way. they seem to report as long as i've been following the stock one bad quarter, poor guidance, and the quarter is actually good, poor guidance, and then the next quarter everything is well again so i've been looking for an opportunity to buy it. thought i'd catch the bottom but it's a good trade higher it goes by theme large-cap growth stock, not the cheapest i
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own but not the most expensive one more thing, scott. we saw some news today, as subscribers go on to the disney app for free and go on the apple app for free and as the amazon app has atrophied, the one that survives is netflix. so they'll have viewers come there, they'll have subscribers at higher rates now. >> it's going to be a very big week for megacap tech after last week with, you know, netflix and apple and microsoft and alphabet tomorrow and meta on wednesday and amazon on thursday we're really going to get a report card on those companies and growth in general, megacap growth, at least, by the end of this week. final ad aerhiquk eak.esft ts ic
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dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones
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i wanted to get another comment on this netflix new buy from steve weiss you see the stock there, $423, steve weiss saying he bought it this morning i'm reminded that joe terranova sold it in november at $661, a long distance from where we are, joe, but what do you make of steve weiss looking for value opportunity down here? and we are reminded as well that bill ackerman recently did the same thing in net politics >> i think the objectives for bill and steve are totally different. bill will be in this for many years and he'll need a much better guidance outlook from reed hastings and the team at netflix. far trade, i think this may be 10% upside and i'm just right
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now studying my momentum factors that i'm looking at, but from a momentum perspective, you really had to capture the stock below $400 i see limited upside i can't see it getting above $475 >> weiss, do you want to make a quick comment on that? >> your mouth to god's ears. let it go to $473. i'd take it. >> i knew he was going to say that >> of course he said that. of course. >> steve, give me a final real quick if you could >> nxti reports tonight. >> nxpi, jimmy, you own that after the bell tonight >> that's long-term investment, but my final trade for this week is qualcomm. you have earnings coming up wednesday. this is the time to get in >> how about you, joe? >> any dip in commodities, buy it john deere is a name i own and a
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way to play the gagriculture trade. >> final, liz? >> i would "biotech: the next generation" yo tech if you want innovation and growth potential but scared by it biotech is a great place to be >> final trading day of what's been a dismal month for stocks nasdaq trying to avoid its worth january ever and it's at a level to watch "the exchange" is now. it's almost like we read each other's minds because i'm about to give you that exact same figure. thank you, scott hi, everybody. "w we're talking about a drop of 10% or 11% in the nasdaq investors eager to close out the month, but will february bring a break from the selling and volatility my next guest has the stocks you should be buying right now and the shine has come out of a


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