Skip to main content

tv   Fast Money Halftime Report  CNBC  October 9, 2020 12:00pm-1:00pm EDT

12:00 pm
does there are a lot of new gamers now, collin says, and existing fa fans are spending more time in gaming that's good stuff, josh. the markets are getting a boost from kudlow's comments got to pay attention to what mcconnell has already said today. let's get to the judge >> carl, thank you welcome to the halftime report front and sent they are hour, the broadening rally of the s&p 500 having the best week in more than a month now. the ceo and portfolio manager join me at gillman hill asset management michael farr is with us as well. let's check the markets. stocks pacing the best week since july take a look there. dow is now up 230. s&p 500 is good for 32 as carl said, a lot has to do in
12:01 pm
the last few moments on this headline from larry kudlow, the president's top economic adviser saying that the president now wants to do a deal on stimulus let's go to washington and get filled in a little more. >> scott, the president tweeted on the state of the discussions over another coronavirus relief package. he said that the negotiations are moving along he encourages the negotiators to go big this as you mentioned white house economic adviser larry kudlow saying that there has been a plan that president signed off on. it is relatively broad based now what we know is that house speaker nancy pelosi and the treasury secretary are supposed to talk again sometime this afternoon. they had been in almost constant contact almost daily contact and we know that president said he is willing to go beyond ppp, direct checks and aid to the air monica lewinsky and do something
12:02 pm
bigger exactly how big? that's what the negotiators will be talking about, i'm sure, during the phone call later on today. but for now, we know the president after calling off the talks earlier this week is encouraging negotiators to go big. >> appreciate that very much steve wise, i don't know if the market needs stimulus to continue to go higher. it certainly likes it. the dow is positive for 2020 >> i you this that will be an added bonus. we're going to get stimulus. this is before today's comments. we don't know if we'll get it before the election. unlikely but we'll get it after the election either way. they're willing to be patient. part of that, of course, is because where else are you going to go? we talked about, if you buy the ten year, can you have to wait ten years to get the full return capital back in the meantime, the coupon is
12:03 pm
losing money equities continue to be the place to be. now i think that trump is rightly saying, hey, you no he what the republicans can't be looked at as holding it up. and the democrats want to go bigger of we have to meet that challenge and go ahead i tun to be optimistic that a stimulus plan, all with he need, to your point, is the continued odds of messaging to give the market that added push >> the fed already served up the sunday, right? we know that tastes pretty good certainly. this is a big cherry on top for investors, right >> fit came through in short order it would be the big cherry but steve made a really good point which is we don't need the stimulus as much as we need the messaging that it's out there. who knows which way the wind is blowing when that came out i don't have a lot of fauj that tweet means anything is going to happen faster or slower than it was before you think what the market is pricing in is between now and
12:04 pm
next january there will be a big stimulus package and we'll get that and that's what matters the precise tiking doesn't matt timing doesn't matter as much much >> you have a broadening rally, right? this week, best since july and you have russell 2000, best week since june. energy top performer this week banks and regionals coming off the best session best week since easterly june. of that's a good sign for the overall market we're not talking about tech every day anymore. >> no. i don't necessarily feel like it's a rotation out of tech either, scott. we're getting a bid in the more cyclical areas the value stocks that we talked about on halftime report for the past few months, we were a month or so too early. i almost like to be a month or so too early with an idea. but it's beginning to catch the bid. halftime report said it was going to catch
12:05 pm
congratulations. it's broadening out which is a health why i su healthy sign i expect to see stocks down. when we saw vice president biden jump ahead in the polls and the president in the hospital and side lined from campaigning, i would have figured that wall street would have looked at biden's tax package and said this will be a disaster. shares are going up with a broadening rally i think it's encouraging for investors. >> so broadening rally reinforces the positive core fundamental thesis does it do the same for you? >> yes, it does. this is exactly what we want as michael said you're not seeing liquidation. you're seeing a broadening out that's been occurring for some time the industrials have had a massive bid to them for about a month and a half the materials stocks have been
12:06 pm
catching up as well. you want to see the next step. what is that next step the financials that's where you really want to see love coming in let's talk about that for a second it is solely because of the ten year treasury yield going up above .7%. i don't think you can count on that going forward i don't think you can count on the ten year continuing to march higher the fed is going to sut on it because they want the mortgage rauts low. the housing market continues the so what you need to see and this is coming back full circle to where you started, scott, you need to see fiscal stimulus for the financials to work and broadening to continue loan losses are what is going to move the financials higher meaning, lower loan losses than expected and for that you need fiscal stimulus. >> so you're taking a look at a couple banks and thinking a big tech holding you have. replacing it with financials >> yeah. so i talked about selling
12:07 pm
google i'm almost there when i look at it, it's been a bad proxy for the nasdaq over the last two years over the last five years, you know, just hasn't outperformed there are spending issues. i'm looking at the banks and saying what would i buy? b of a is one that comes to mind as i said before, i think moun h moynahan is the best ceo in the bank group we've had had nearly two billion dollars in penalties and fines against j.p. morgan from fixing this, fixing that in terms of traders. but look at b of a the price to book. and look at how moynihan has kept reigns on a couple at a much tougher time coming out of it in it terms of what he was given in the financial crisis. the other one i'm looking at is goldman sachs. i like what they're doing in terms of going direct to the consumer more, getting away from the institutions at the end of the day, they have the deepest bench. i think the best manage brokerage. morgan stanley is another.
12:08 pm
my other folk us is on goldman sachs and b of a. >> what would force you to sell google and put that money into b of a and/or goldman sachs? >> you know, i may do it monday. i may have to get there before b of a i'd like to see the economy improve. and really what my trigger is. st if if the economy is improving to jim's point, you'll see the ten year, you'll see the curve steepen. and that's what you really need for the banks to make money. >> yeah. of. >> and right now we'll get -- we're not seeing that. as a matter of fact, the economy is retrenching a little bit. if you get stimulus though, and i think to michael farr's comments, if you get a biden victory, forget the tax consequences look at the massive stimulus you'll get fiscal stimulus and infrastructure that would increase the economic growth so that's what i'm looking for >> the time frame, too, and it's no accident that you're talking about monday trying to get ahead of the bank earnings which start flowing heavily next week. i totally get the point you're trying to make what about this idea of what
12:09 pm
energy has done this week, jenny? best week for wti since june energy's been the best performing group this week it is still the lagger on the year down 50% we're not cuddikidding ourselve. and as josh brown made the point every day that he's been recently, the stocks have been completely liquidated recently is there any reason to believe that what we've witnessed this week has staying power >> yeah, i think so. i think maybe two weeks ago or so i used chevron as the final trade. the reason i did that is because i think it wasn't reflecting the stability in oil prices in the share price. the and that's really important. i think stability in it oil prices, stability in oil prices is almost as critical as high energy prices. as long as we can predict. looking right now at a chart of rig counts in the u.s., would you believe that rig counts in the u.s. are lower than they were even in 2015 when we were having that oil crisis so i this i that we're seeing a lot of supply still come off
12:10 pm
line we just saw iran say that -- i'm sorry, we saw saudi say that they may not increase production as much of as they were anticipating before. so i think we have a reasonably rational setup for managing supply demand out there and that could support $40 plus oil with $40 plug oil, we kn40 pluso of stock to be made in that. steve, i'm sure you'll argue with me on this i think there is value there. what is going on in the energy share prices isn't correlated to the price of oil the price of oil is steady this week i think this is just the broadening of the rally and people coming in and saying, whoa, these things have a four, five, six, 7% yield. they're trading at 3, 4, 5 times earnings the they're simply value and cash flow to be had there. >> it depends what your time frame necessarily is right? >> right >> even carl icahn yesterday was
12:11 pm
speaking and he's got some energy holdings. you know, he knows the pain they delivered of late. but even he joked that in three years time people may kick themselves for not having snapped up inexpensive energy companies in 2020. right, steve >> i'm sure he's right >> what is seemingly trash today might be treasure tomorrow if you're willing to wait >> here's what i tell you. st if chevron doubles from it here, sky works is going to triple unquestionably there is value with the yields. i'm looking for performance. the smartest investors in energy in the world including carl icahn are having a tough time. look at oxi, one of the largest positions. he's been underwater for that. so there is another trend that is being missed that jenny is not really talking about and that is esg. which despite the 40% of assets globally and 25% publicly
12:12 pm
managed assets domestically, that's going to continue to grow and climate change while we dispute the sucience here presently that, is not always going to be the case can you get the energy exposure but can you buy the names that i own. and that's where i think you're going to continue to see the growth, no the in fossil fuels the they're not good for the environment. and they won't be good for your portfolio either. >> michael farr, okay, there is industrials, there's transports, cat, eaton hitting new highs this week. is this something to believe in? >> i think it's -- i think you believe the enthusiasm one thing on the energy stocks that i think is a danger is that some of those dividends are very attractive steve mentioned the dividends and he's right but i had a client call and say i want to buy exxon because the dividends are 10%. all the stocks are not the same. exxon is going to have to borrow
12:13 pm
money to keep paying that dividend they're not paying you a 10% dividend because it's a good safe dividend with the stuchu.s. treasury at 75 basis points. that's a huge spread you have a fair amount of risk there. i would say be careful of those balance sheets and you really need to own what you own but, yes, i think the renaissance a butt it in the agriculture space, those stocks got killed they're beginning to show some signs of life for an economic recovery again going back to what steve said if, you end up with a biden infrastructure, more spending fiscal spending kind of awe program, those infrastructure bills are going to benefit there's going to be money there in those areas what it does to the national debt still scares the hell out of me. but that is just because i'm old and i don't like all this debt the but in the mean term, when they spend the money, they're going to catch a bid will they'll go higher >> yeah. let me get back to washington if i could for more details on
12:14 pm
stimulus >> scott, i can now confirm that the white house is planning to offer democrats a $1.8 trillion coronavirus relief package that is up from their previous offer of $1.6 trillion it comes after the president tweeted just a little bit ago negotiators go big so that offer is what the treasury secretary will present to the house speaker when they talk over the phone later on this afternoon there is still a question though over how long it would take to get a deal done even if democrats do agree to this number of senate majority leader mitch mcconnell is saying earlier today in kentucky that he thinks it's unlikely an agreement could be reached by the time of the election but we now know that white house will be increasing their offer to $1.8 trillion >> the democrats have been where? 2.2? >> $2.2 trillion and it also seems unlikely that
12:15 pm
pelosi will be able to pass anything in her caucus that is below $2 trillion. so we'll see if they can come to some sort of agreement on the top line and also remember it's not just the overall number, it's also the details of the language as well pelosi said she wants to ensure she's not giving the administration a blank check the so there is still a lot of fine tuning to go even if a top line number is agreed to but what we are seeing now is the two sides coming closer together after we had thought that a deal was completely off the table just days ago. >> yeah. well, i mean, it used to be one side at 1.8 and one to 2.2 maybe you go to two. thank you for the update appreciate it. we'll see where it goes from here jim, how about this idea, okay, if you get stimulus and you get big stimulus, is that the thing that pushes the value trade really into having some legs these industrial stocks which got bids this week
12:16 pm
new highs this week. cat, eaton, deere? that can only help those names >> i you this that's exactly right. >> let me broaden that discussion that's one of three things that we're supposed to look forward to look through the current environment of we don't know if we're going to get fiscal stimulus we don't know what the election is going to bring. or the virus is getting worse. you need to look through and the industrials are doing. this look through for three six months forward and believe that you'll have saa sitting preside. i can't tell you when or how much but i strongly believe you'll have it. and you'll probably have some progress meaningful progress on vaccine or treatment for the virus meaning, you get through those things, you look forward through the next few months to that sort of landscape, listen, industrials work materials work energy works not to the exclusion of
12:17 pm
technology, it's in addition to technology working >> yeah. jenny, morgan stanley has a list now of the reopening stocks and recovery stocks. we talked about them already bank of america is on that list. alaska air which i know jim owns there is delta airlines. we start getting into, you know, urging people to buy airline stocks i mean, you're heading out perhaps into the risk curve a little butt far. jetblue is on that list. las vegas sands. you have hotels like hilton, valero, charles schwab, schwab,i what do you make of the list freeport >> yeah. i think the theme among them that they look like a really dispratt list of companies the theme just as life gets back to normal, their businesses will return to normal and they are underpriced i think as we broaden, the valuation gap narrows. so as that valuation gap
12:18 pm
narrows, the companies should -- these are the ones that have the most impact and they should start to improve they should just start to resum normal life. one interesting thing is when march and april came, right, all of these facts, all of the financial that's we always depended on to be so true were thrown out the wund yoe. and stories stock surged st but facts and financials will start to matter again and we have seen that happen. i think we'll see that happen more and more as q-3 earnings come the list of stocks own that wall, they're going to be the direct beneficiaries of fact, financials, and dependability just returning to the normal process of investment and analyzing their companies. >> wise, you're buying more ford >> the yes, ford i initiated position a couple weeks ago. they reported motley sales they had the best quarter since 2005 on the ford 150 they picked up more market share
12:19 pm
in the top selling suv in the world which is the explorer. those are high margin products i looked at buying cars over the last month there is no inventory. so that is because they cut production globally all the car companies because of covid-19 because supply chain fell down and now when people are looking for cars and you've got used cars selling at such a premium, they don't have to give you the incentives on new cars so profitability, i didn't go into gm, much to jim's chagrin, because of the nikola issue which retrospect i shouldn't have bothered about it they're not paying nikola is anything nikola is paying them. it showed a lack of judgement in dealing with this company. although at $2.7 billion, they're getting which is a lot less now, sort of makes sense. but both will work bmw will work. daimler will work. i like the sector overall. >> auto plays into cramer's new list of seven sectors of opportunity, too we're focusing on chemicals
12:20 pm
today. ppg plays into the auto space rather heavily that's on his list e as one of his top chemicals picks. the other one is dow which is owned by jim and jenny. jenny, you go first and then jim. >> sure. so on dow, like the wall of stocks that you had up before this is as normal life returns, so will dow. dow makes the fuillings in pillows to the artificial running tracks they make everything and so as we just get back to normal, whatever normal is, they're going to tlif. to thrive.
12:21 pm
>> better day as head? is cramer right? >> yeah, not to sound defensive. i bought this in april and just a fantastic price to get this company if we're bullish on don't use chemicals. this is the precursor to just about every chemical or material that you're going to use in industrial applications. and as jenny pointed out that, dividend yield, let's talk about that the market is seeing that they think there is a cut in the offing i just don't see that. the i mean, i look at the balance sheet and the profitability. i see absolutely no dividend cut in the offing.
12:22 pm
it's the infrastructure play it's beaten around has a mid cap stock. there is irrigation equipment. it also plays. and stocks look cheap. idea with a solid balance sheet. it's buy the things when they ain't sexy and wait till this have some sex appeal dow is looking sexier by the day. >> i just want to show you the
12:23 pm
markets which certainly got a list off of those headlines of the last 20 minutes or so where the president wants a stimulus deal, the white house raising their dollar figure to $1.8 trillion that's what has beylan has delid to us in the last moments. the s&p is higher by 1%. russell 2000 has been strong all week up about 2/3 of 1%. so stimulus seems to be progressing. look at the nasdaq, too. tech has lagged this week. the nasdaq was playing catch up. now it's an outperformer there's some interesting stuff, ganging going on in technology today. the semi-s are by far your biggest exposure in this market. what do you think about this particular deal, this combination and then about the space in general >> you know, tech combinations
12:24 pm
are always strange because they're so many personalities that some don't want to go to that different culture so putting it together can be an issue. a & d management is excellent so they can do it but you have a lot of anti-trust concerns going forward. we saw it with china, with the qualcomm deal and xpi just closed their deal. overall, you have to remember on semis, they go into everything so there's a lot of auto exposure between those two companies. and i like the auto space but it's also been under pressure because one of the reasons i like it is because production has been down. so semi-s are going to continue to to move higher. that's the base case if you look at the iphone or mobile phones, the dollar context goes from roughly $9 per phone to a range of 18 to $25 per phone.
12:25 pm
so you've got continued movement of chips into all these devices to everything we do and that's just not ending any time soon, even if everybody goes back to work it's not a stay at home or work at home play, it's a progression play i love the chip space. >> it's not like these things may just continue to go to the moon unabated. nvidia today, one of the darlings of tech this year downgraded to a sell at new street, $400 price target that rest more than 25% down side from here. the stock is not moving all that much on it, probably because it's so loved. but i wonder if that forces anybody to take a step back and look at where tech in general, especially a lot of these hyper growth tech names are currently valued jason was in the previous hour and said, quote, i think
12:26 pm
everything is fully valued to overvalued speaking of that area do you agree, jim? >> i do. fully valued is the key term i think nvidia is an 80 times multiple going further that's called speculation. it can happen but doesn't necessarily have a rational basis behind it. so in that environment, i think what you see a dwindling number of buyers. that doesn't necessarily mean you have sellers so this speaks to the idea that you can have a flat lining of nvidia and some of these tech darlings and a broadening out of the rally without a necessarily massive decline in their share price i think you just literally run out of buyers. is there anyone who doesn't own nvidia besides me of course and i'm not going to run out and buy it >> i don't either. >> i don't own it. >> i have more business to do
12:27 pm
with you, jim. i need to talk to steve weis, though we're also going to talk shares of general electric. down as you know big time this year, 40%. one firm, though, now says is the time to buy it we're going to debate that next. it's our call of the day and a reminder, last week got the tenth annual alpha delivering conference. getting money to small business, speaking of stimulus as we are today and of course the markets, please check out the full interview. go to "halftime" is back in two minutes. before we talk about tax-smart investing, what's new?
12:28 pm
-audrey's expecting... -twins! ♪ we'd be closer to the twins. change in plans. at fidelity, a change in plans is always part of the plan. our retirement plan with voya gives us confidence... ...we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. i'm good at my condo. well planned, well invested, well protected. voya. be confident to and through retirement.
12:29 pm
12:30 pm
here is your cnbc update at this hour. nancy pelosi has assured effective and uninterrupted leadership in the office of the president. she insists the move is not about president donald trump but is about the need for greater congressional oversight of the white house. in italy health officials reporting more than 5,300 new coronavirus infections, the most for a single day since march this as the country implements a new nationwide mandate requiring masks to be worn outside
12:31 pm
>> in britain nearly 14,000 new cases confirmed today, down slightly from yesterday, but still well above anything seen before this month's surge. the british government also announcing it will pay two-thirds of the salaries of workers at company that have to close as a result of the new coronavirus restrictions expected next week back to you, scott >> thank you all right, let's do this you sold roku. you sold roku but you told me monday you you were not going to get out until it starts going down this is going up why are you selling it now >> well, it did go down from yesterday's high maybe you're going to say, hey, jimmy, you're being way too cute >> i'm glad you said it so i didn't have to >> it is up 30% in six weeks, scott. and, you know, that factors in this is a trading vehicle for
12:32 pm
me you know and i no there's no way i can value this thing it's 14 times next year's sales. i saw it bounce off of that high yesterday. i look at 30% over six weeks and say if i can do that day in and day out, it annualizes to an 800% return. i'm not going to be able do if i don't clock the return, put it in the bag should it go higher from here? sure it could. if people make money, god bless them i've done it five times, i've made money four times over two years and it's been great blessing to my returns but i have to clock those wins when i get them. >> look at the intra day chart today. you disappointed all those people who you've been preaching the gospel on roku.
12:33 pm
>> you know, scott -- >> that is the labenthal drop. >> i feel like it's an addiction and i can't get away from this however harrd i try. >> yours or mine >> we'll be back in this you know we'll be back in it it's too much fun. today i want to go into the weekend feeling good, holding my head high. >> he puts a dent in roku. blame him, not us. and you're buying apple speaking of the tech event next week. >> first i need a moment to recover from you calling jim cute that just didn't sit well with me >> i thought it was touching >> i know you're jealous of me >> the thing is, your jokes don't get any better they just stay bad we already moves on, weis. go ahead >> okay, apple the big event is on the 13th
12:34 pm
they say welcome to speed. that's because 5g can be up to a hundred times as fast as 4g. that won't be in the phones but my view, the 5g will be the biggest launch in their history. the stock usually trades up in advance of product announcements. it hasn't here part of the reason i believe is because numbers coming out of asia, hanh high, a supplier, were down 20% year over year that's because apple pushed the launch of the phone out. i don't know if this is going to bode well for apple's quarter but i think people look at this phone and say, wow, this is true innovation verizon is going to 5g network next week. it will lead to apple having a phenomenal launch, customers are going to reup, they've been waiting for this i think it's vex sigry exciting. >> speaking of calls, there's a
12:35 pm
new one. we mentioned it on ge. we're going to debate that next in our call of the day can you watch or listen to us live on the go on the cnbc app back after this. ♪ ♪ ♪
12:36 pm
but a resilient business you cacan be ready for a digital foundation from vmware helps you redefine what's possible... now. from the hospital shifting to remote patient care in just 48 hours... to the university moving hundreds of apps quickly to the cloud... or the city government going digital to keep critical services running. you are creating the future-- on the fly. and we are helping you do it. vmware. realize what's possible. with this seal, this restaurant is committing to higher levels of cleanliness. ♪ ♪ ♪ ♪ the expertise that helps keep hospitals clean,
12:37 pm
is helping keep businesses clean too. look for the ecolab science certified seal.
12:38 pm
welcome back let's get to this bullish call on this company, general electric, shares up 5% today goldman stacks reenstainstatingh a buy. of course it's down almost 40% this year. jenny, what do you say on the call they're saying they're going to be leaner company with better capital discipline and emerge with the pandemic a stronger company. airline travel will resume they're also underearning in their potential and powers and renewables buy or no? >> no, not for me. this is an unbelievably dense, complicated company. i tried researching it about three years ago and couldn't get to a great conclusion. i think to be able to really understand ge, you need to be a full-time research analyst and spend 40 to 80 hours a week working on it. when i read the goldman call this morning, my knee jerk was to say, oh, that's really
12:39 pm
interesting and that's really compelling then i took a step back, remembered how complicated it was and remembered who the best analyst is i think on this from jpmorgan, steve tusa he's sees a company that struggles to deal with its pass, suggesting no quick turn i stick with him on this i think he know it is it better than anyone and has the ability to go deep and form an opinion, where most of us can't do that >> so jenny says until tusa speaks, she's not buying it, in more ways than one what about you >> right and jenny makes a lot of sense in her points, they're absolutely excellent and i kind of agree with them i want to buy ge and i haven't and i want to buy it only for one reason and that's larry
12:40 pm
culp i've known larry for years, he knows how to manage a big conglomerate somehow my purchase of ge, which i'm dying to do it but i can't bring myself to do it, is a vote of confidence in larry culp. they can't quantify their exposure to the long-term care insurance business they have a power business that's kind of a disaster. their deal trying to put things together hasn't been really good finding jenny is entirely right with her caution mine would be more than a bet on kulp and i'm still not ready to pull the trigger >> so you own raytheon, michael. jim, you as well what's the best name you have in the industrial space right now >> the one that's got the best bid to it is caterpillar the chart just set a new 52-week high that's an easy one to simply say, look, it's got the supply chain reshoring going on, it's
12:41 pm
got infrastructure potentially coming can you take more speculative bets you see i'm in boeing. that's one and steven and i have to then into it on this. it's a call option on the commercial aircraft business why not take that call option instead of general electric? i'm not hating on general electric but with boeing you've got this massive defense business and you've got the call option on the commercial business for when recovery hits. >> why don't you weigh in then, weiss? >> i'm going to give you the chip names they're going to all of the industrials. they're taking the pure robotics into the warehouses and factories. that's going to be chips in terms of ge, look, to me this is no stock left behind. this is where you go when you can't find anything else they sold their growth, their health care businesses if you're going to buy leverage to a reopening trade, don't go here with their balance sheet, even though it's been improved perhaps the only reason the
12:42 pm
company hasn't find bankruptcy is -- go to the airlines the airlines a much higher baiter than ge will be >> we'll take a quick break and come back. you still have time to send in your questions and do it by video. we play it on the air. e-mail us your question at back in two minutes. when i was in high school, this was the theater i came to quite often. the support we've had over the last few months has been amazing. it's not just a work environment. everyone here is family. if you are ready to open your heart and your home, check us out. we thought for sure that we were done. and this town said: not today.
12:43 pm
♪ and this town said: not today. (music) anncr: give customers access to precisely what they want, when they need it the most. with adyen, the payments platform that delivers convenience for all. adyen. business. not boundaries.
12:44 pm
♪ i got it all from you ♪ i'm always pushing through ♪ i know we'll make it to the finish line ♪ ♪ i know you're waiting on the other side ♪ ♪ i'm like you on-demand glucose monitoring. because they're always on. another life-changing technology from abbott.
12:45 pm
so you don't wait for life. you live it. let's answer your questions now. first up, a video question from anthony in new jersey. >> question for you guys on brookfield renewable partners, ticker bep i feel like this makes for a great long-term investment with the increased debt levels throughout the world in both corporations and governments, the long-term contracts at brookfield science for their clients in producing their power and they need decline in cost that come with wind and solar power. i think brookfield makes for a great long-term investment
12:46 pm
curious to think what you guys think. >> appreciate the question, anthony. steve weis, i o-- you own it so why don't you answer it. >> you put it perfectly. they just signed one multi-year agreement for power you've got the brookfield alternative team, which is phenomenal, the best in the business, behind this. i'd rather hone that wiown that% yield, pay attention, jenny, then partner with the saudis on fossils. >> what's your take on greenbriar where do you think it's going? >> long term this is a great stock. two years ago it was $60 a share. i think it will be back there. but in the short term this is a hold and here's why -- it's up 53% in three months. you've got to ask yourself where's the next 10% move? it could be to the down side
12:47 pm
if you don't own it, way for the entry side, if you do own it, hold on to it. >> it's up 53% in three months right? >> yup >> so roku had a big gain. >> i love your question. let me answer it >> roku is up this week and you get scared and you sell it because you don't it to go down. now that this thing is up 53 pr in three months and you're telling our guy or rudy giuligag anywhere >> you can value greenbriar. you can say what the earnings are going to be and what's a reasonable valuation to put on it one year from now can't do that with roku. i have no idea how to value it it's 14 times sales. could it go to 20 times? sure i have no reason to say it will. greenbriar has rail loadings going up which fields into real
12:48 pm
car reproductions and refurbishment. but you might be back down at 31 first. that's where i want people to buy. >> i appreciate that jenny, from tim in nebraska, exelon and utilities in general? >> this is a great investment. you have a company trading at 12.5 types earnings. if you look duke, dominion, southern, they all have some of their energy generation, from wind, oil, gas i think can you own any of them. they're much better than bonds but they're also long-term holdings, know what you're getting into it is not a home run, it's just slow and steady is going to win the race exelon is the cheapest of the
12:49 pm
group. i wish i owned them. but i don't. >> what's a better long-term choice, abbott labs for medtronic? >> john, i own both. both are expensive abbott labs is the best in class, 26 times earnings i also own becton dickinson. i just doubled my position in becton dickinson, houlding my positions in abbott and medtronic but i think becton di dickinson looks like a better buy. >> trades are still ahead. ♪ we'd be closer to the twins. change in plans. at fidelity, a change in plans is always part of the plan. state of the art technology makes it brilliant. the visionary lexus nx.
12:50 pm
lease the 2021 nx 300 for $359 a month for 36 months. experience amazing. at your lexus dealer.
12:51 pm
working, parenting, problem solving. for 36 months. at new chapter vitamins we've been busy too... innovating, sourcing organic ingredients, testing them and fermenting. fermenting? yeah like kombucha or yogurt. and we formulate everything so your body can really truly absorb the natural goodness. that's what we do, so you can do you. new chapter wellness, well done. find a stock basedtech. on your interests or what's trending.
12:52 pm
get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. welcome back time for the futures outlook copper is on track for its best week since august as investors turn more optimistic on demand for a turnaround guys, good to see you on this friday jeff killberg, you first what do you think it says? where is it going? >> let's talk technical, scott it's interesting to see strength to the upside revealed in this chart. i think there's significant outlooks here. if we close above the $3.11, we'll be on our way back up to the 3.30 level, the level we traded a lot back in 2018. up, up and away. >> scott nations, do you agree >> i do. the fundamentals are very strong for copper
12:53 pm
china's certainly in recovery mode september pmi 53.0 most new orders that they have seen in nine years the dollar also down 55 basis points today ready to break below 93 in the dollar index that's going to help all of the commodities, copper, cold and crude oil, and now we're worried about chill erk. the biggest producer of copper they are looking at a work stoppage that would impact two of the biggest mines, including the very biggest mine in the country. >> all right guys, good stuff enjoy the ekd.ween i'll catch you soon. final trades are next.
12:54 pm
12:55 pm
12:56 pm
when i was in high school, this was the theater i came to quite often. ♪ the support we've had over the last few months has been amazing. i have a soft spot for local places. it's not just a work environment. everyone here is family. gonna go ahead and support him, get my hair cut, leave a big tip. if we focus on our local communities,
12:57 pm
we can find a way to get through this together. thank you. ♪ if you are ready to open your heart and your home, check us out. get out and about and support our local community. we thought for sure that we were done. and this town said: not today. ♪ ♪ ♪ ♪ find a stock basedtech. on your interests ♪ or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.
12:58 pm
state of the art technology makes it brilliant. the visionary lexus nx. lease the 2021 nx 300 for $359 a month for 36 months. experience amazing. at your lexus dealer.
12:59 pm
final trades in just a moment steve wooets, during the program. you sold out of domino's please tell us why ch. >> so, it was my final trade on wednesday which i apologize for into the earnings yesterday. i thought it was a really good quarter, but like the last quarter, and i bought it after the last quarter when it declined, the market didn't like it because i missed on the bottom line so i lost a little money on the trade, but i just don't have patience to wait another month or two months for this recover when i've got so much exposure in the market and so many things that are working, so that's why i sold >> the quarter was good. comps were really good it's just the fact that they are grappling with higher commodity costs. cheese prices are way up, and that was a big weight and that's one of the issues. i've got to get to everybody else i hear you on that jenny, final trade, please. >> so oddly enough i just ordered domino's during the program. no, just kidding iron mountain is trading 12 times earnings and has an 8.75
1:00 pm
yield and the businesses they serve of are not ones impacted by the pandemic. >> michael farr, need a name here. >> donaldson, dci, filtration systems, i think it will continue to benefit. i'm buying it. >> jim lieberthal, a name, quick? >> alaska airlines. >> good weekend, everything. "the exchange" is now. >> thank you, scott, and hi, everybody. we have several developing stories to watch this hour the president raising his stimulus offer as house speaker treasury and house speaker pelosi had set to speak again this afternoon the latest on washington's twists and turns and oil and energy stocks soaring this week. is it a short-term rotation, or is this a real crude comeback? and disney drops theaters? apple tv freebies, pandemics, startups and the cruise ship to nowhere. all ahead of us, but we do begin with the markets and dom chu


info Stream Only

Uploaded by TV Archive on