>> welcome to power lunch. have a new year. i am beside kelly evans, i'm dominic chu. today's last trading day of very, very good year for the markets. we'll give you all of th numbers -- in the records i could still fall, and what will drive th market kelly, in the year ahead >> plus, the big stories o 2023 a.i., taylor swift, remember

the regional banking crises? and our prediction on whic stories will be so big tha will be talking about them thi time next year as tom mentioned, a banner yea for stops, and it with a win for all the average is lower - by a little less than half a percent. >> now, when you zoom out fo the year, you get a 13% gain for the doll but by far, the worst of the major three averages if you look at the s&p 500 it's about 24% and we are still watching it weekly number. because if it holds on to gains, it would be nine weeks in row. the longest winning streak i 20 years >> wow >> but the nasdaq has been the real outperform of this year see that on the left han corner of your screen? if that stopped 44%, the yea to date number, it will be the best year since 2003 >> in the green there. so we're four tenths of percent away from that >> yes >> wow, we will be close >> it's going to be close. despite the strong year for th markets, one of the guests - could make for further gains

and it could make it mor difficult. but he still keeping a overweight on equities, betting on the u.s. versus international. here to explain is chad morgan later, senior portfolio manage -- and sderot city, the managin partner and d.c. l.a., managin partner. also cnbc contributor. he's gonna be our guest host for the hour so he'll be weighing i throughout the course of the hour this is going to be an interesting discussion maybe chad, we'll start with you on this, just how good of year one of the. and do you think there's any chance it continues in 2024? >> so, first, happy new year t all. yes, i think that the market can continue to hit higher highs. that is on the back of a stron economic growth, stron earnings growth. yes, evaluations are quite hig with a learning sealed of 5% but you had that pivot tha basically -- and we think it will continu into january, february, an march.

>> talk to us a bit about what you're feeling here into the new year >> i do think valuations are stretched. the key here is the market i so dependent on the fed. because that was the pivot for equities to actually go up and i think you're not gonna get multiple expansion, yo have to have earnings growth and we still have some geopolitical uncertainty out there. so i think you have to be very careful as to what you own because, things are pi price t perfection, especially the nin and seven. they can perform just fine but i think there' opportunities elsewhere. you have to be careful after 24% run. >> the only thing though that think -- is the january bias confusin us a little bit about th larger trend in markets? i was thinking back to our discussion yesterday, we talke about how, yes the markets but got up a lot this year, bu going back a couple years, early at 8% from 21 or 202 levels are we - if we talk about gains thi

year, what we know that 2022 i a reverse? >> if you look at it from th peak, which was literally tw years ago, so many stalks -- i saw something where 72% of stocks haven't hit that leve again. the max seven have >> interesting >> so where you want to go i think what's also happened is, because we had this quote, santa claus rally, everythin rally, come january, february, people are gonna start repositioning again. you have attacks - but people not selling, becaus they don't want to pay taxes going into the end of the year you have a combination of that you get everybody coming back, working in january and then when we're lookin forward, we have an election year, which has uncertainty. we have two wars going on, tha we don't really focus on tha much - what could they do to commodit prices or just generally trade. so i do think the goldilocks i priced in at this point. so it does need to be out of equities, i would say couple things, make sure you are in your allocation. and make sure that you are diversified. because at this point, to be s

focused and concentrated, it could actually hurt your return >> although chat, it i interesting to hear, our cas in last hour, when asked about the year he thought we'd have, he said he thinks it'll be a good year, quite simply as we, know from the history of the presidential reelection cycle. i mean honestly, he said it' gonna be a tough to figh historical precedent for that. and it's usually a good one. >> while you have that, yo also have all of the inflation you have three massive fisca stimulus programs al converging at once and then lastly, you have th business investment cycle in tech spending. which we believe could be multi year tailwind for s& earnings so that bodes well on th positive side. on the negative side, consumer spending, credit growth from consumers is decelerating at a pretty, a pretty rapid pace. so consumption patterns coul be a little bit of a headwin in 2024. >> chad, what's interestin

about that though, you bring u the retail spend, the consumer spent, the health of the consumer balance sheet, we'v had folks all over our air, an elsewhere news media, business news, talking about th withering, or the weakening of the u.s. consumer over the las 2 to 3 years and they've claim that it' because of weakening stimulu dollars, they're no longer there, they use the bouncy consumers kept on spending, an this past christmas season the did. so as to say they don't keep o doing it again in 2024 >> well there was a little bit of an artificial get up and go that we all watched, and saw i the earnings of some of th retailers. and that has shifted a bit, an you can see that through the earnings of target, as well as walmart. we do believe that the consume will be -- but the big ticket items for example, like housing, or autos, that we believe can continue t be somewhat slower, as consume

credit growth, jus decelerates. again, not the end of th world. but that could be a little bit of a headwind. that could be one of the reasons why perhaps, jerom powell, which i'm thunderstruc that he did, made his massiv pivot as he did which th markets reacted to >> so i think you have to be careful here because if what's going to happen is, you're gonna ge employment, unemployment go up that means wages are not going to go up as much it two things could happen one, if they go, up you coul get into a stack inflation and one is if they actually go down, the consumer's gonna say unlike two years ago, i don' have a tailwind behind me. what is my backstop? so i think being in the retail side, being on the service side, which we had such a grea run in, i think those are wher you have to be somewhat -- >> speaking of tempered, there's an expectation that th run in artificial intelligence and that ecosystem canno sustain itself and for good reason.

is there anything to show you, right now, that there is a significant slowdown i momentum for - which is hands down the best performer in s&p and nasdaq so far. >> full disclosure, we own them, and microsoft. i don't think you'll have. that but when the bell rings we don't know what that is those talks could have hug multiple - i'm not sure it will happe shortly, but what it does, w don't, it just make sure it' size is important. i think you have such a grea tailwind behind that because, you have microsof with copilot, in video with th chips that no one can make a this point the demand is still there. it's just that at some, poin we're looking at it saying, ar these evaluations sustainable? >> how does accenture get into the top three list tha otherwise looks like - >> you're talking abou artificial intelligence. over the last several years listen to hundreds of publicly traded companies give invest representations. every other word out of thei mouth this year was abou artificial intelligence.

so the airports are going to b pressing towards investing int gaining a tremendous amount of productivity except your healthy's publicly traded companies convert, an become more productive that's going to be a hug amount of capital spending tech spending, and accenture they're gonna get their fair share. very low expectations on growth at least built-in for the stoc price. we believe this could be a multi year type of tailwind. >> interesting we'll leave it there gentlemen, thank you both. sderot, we will see you in a moment chad, happy new years eve. >> let's get to the bottom -- that the ten year yield is going to close the year very close to where it started. believe it or not. after everything we've been to rick >> yeah, i find naturall amazing. after everything, after bein down in the 3:30 zephyr being up to four 99, no major closures above 5%. look at a today chart, this is really important, we breache

three 80, if you blinked, yo missed it. so inept off a three 79% ten-year trade after a ver poor seven year no option. as you see on the today chart, we've never really gone back down to those levels again now i'm not saying that that option is so super important i reverse the entire market, but it did go into the holiday season, it does underscore som dynamics - e can argue -- at night, i don't think ther was. others were debated. but that's not the point you see how these fed fund futures have moved that's something the feds ar gonna have to deal with.

because if they're building in these eases, the markets going to have to be addressed by the fed. it brings another point, tha i've said so many times. fed fund futures is just another contract like t bills, like any short term contract. that chart looks a lot like an other chart in the treasur complex. and i think it's ver significant to keep in mind. >> rick, what else do you thin we should be keeping in mind we haven't talked a lot abou the dollar but that, what i feel like it' worth the dwelling for a momen on the fact that we went fro being super strong, to kind of weak in the last couple week of the year. >> well you know, a lot of obviously, is interest rates we've seen a very -- we've witnessed one of the mos aggressive moves by the centra bank to push rates up. and the dollars the beneficiar of that. but it's gonna get a lot mor dicey for next year. one prediction i made is right off the bat, i don't think there's any -- under 100 in the dollar index. i think that would be a sure

thing. however, even though our central bank may be easing, an that will of course take awa some of the more, th horsepower to the dollar there's going to be a relative value trade against all th other currencies and their economies. so even though europe may no be on the same easing cycle as us, or various economies i asia ultimately, i think the dollar will benefit from the fact tha the u.s. economy in 2024 shoul still be one of the best o breed throughout the globe, an i think that ultimately, the dollar will get to around 96 97 in the dollar index i think it'll find support there. if i had to make a prediction, i think that the end of 2024 the dollar index will close at 100. >> all, right the micro stat of play right now. rick santelli in chicago happy new year's are >> happy new year to you, an all of our terrific viewers. >> all, right coming up on the show -- of 100 60% so far this year. one of the best performers i

the s&p 500. that traveling to z awesome di not seem to extend airline stocks, especially in th second half of the year. one possible reason why, and 2023 was the year of gas taylor swift she was everywhere, i concerts around the world, at the movie theater, and for a few hours each sunday, she was ver visible on your tv on nfl -- leave and spent a lot of tim talking about her on a busines network. we'll explain why she was such an important economic figure and force, when power lunc returns after this break

you're probably not easily persuaded to switch mobile providers for your business.

but what if we told you it's possible that comcast business mobile can save you up to 75% a year on your wireless bill versus the big three carriers? did we peak your interest? you can get two unlimited lines for just $30 each a month. there are no term contracts or line activation fees. and you can bring your own device. oh, and all on the most reliable 5g mobile network nationwide. wireless that works for you. welcome back, after year it's not just possible, it's happening.

of consumer spending ami sky-high and flame companies are starting to see th elements of the pricing powe with names like fedex, target, and general mills slashing outlooks cbc dot com's lindsey joseph's is here to chronicle and discuss what else is croppin up >> we're seeing it wit airlines there's a rule if you're booking your own air fire yo don't see it >> everyone gets a deal bu you. >> the capacity is app there's constraints during the pandemic and companies are adding a lot back, airlines ar one of them. they're finding consumers ar looking for cheaper options an price sensitive. they're coming off of th holiday season, retail sales

are looking good so far, we'll get into january pretty soon and that will mean people migh be doing belt tightening >> i wonder though, ceos acros the industry have cited th excess capacity being headwind for the overall industry when they that want to cut capacity in order to boost prices and isn't that of stoke the ire of regulators an policy makers, and politicians in washington, and consumers would be to the benefit of shareholders, shareholders o these companies, what are th cross winds here, cros currents and how does an airline company navigate all o these conflicting issues >> good question with airlines it's what's good for you as a consumer is bad for investors when you'r looking for a deal airlines have gotten savvier a cutting pasadena where they ca in order to boost revenue, boost fair, southwest as one o them that has discounted - throughout the fall. think of tuesdays, wednesday

that are possible with busines travelers. it has not come back in th same way that it was pre-pandemic they're looking at restructuring the network so that they're using their plane on days where it's mor popular. people are going back to their pre-pandemic travel patterns holidays, peak travel times an things like that >> one of the questions i have is whether this means that the top line is stalled out in terms of revenue growt expectations for the nex couple of quarters and if it means earnings growt needs to come from cost cuttin and things that could circle back in a negative way in th economy? >> operating efficiency is gonna be important especiall coming through covid you're gonna start cutting slack and you'll see expenses, this is where technology company say that practical activities important do people need to travel a much, do you do the work a home or do zoom calls, i think with prices coming down it's gonna help a lot of companie as well. they don't need to necessarily pass that on, you need to do

that during covid when all the sudden oil is at $90, and inpu was -- that's where the best companie are gonna use the best algorithms to see, coming to the airlines it's gonna be important because all of the are cost-effective when it comes to wages oils back down to 70, can they maintain the ability not t increase - that'll be the most importan thing. and also, will they go to cost cutting more fair. given the consolidation they don't compete with similar roots, this is gonna be thei moment, can we be profitable and investors have not giv them the benefit of the doubt. you have up 9%, none of thes stalks, their single digit multiples even though they'r making money >> would you buy any of them >> so, we own delta. >> it's the best performin large airline in the s&p 500 >> delta is one of the bes fleets out there, one of the best roots out there, -- that they had. delta is european, south

american, they really have t show that even if demand i coming down they can make mone and increase given that all the wages hav come through, the pilots got a nice raise, they all deserve what they needed to get, but now to your point, if you make too much money what happens is the government comes back to you it - >>, we talked a bought about yield management and revenue management being huge fo airlines they need to be more savvy about it does it translate int hotels and cruise line operators as well. and the reason that they d yield management, they fin ways to maximize the amount of revenue per se, per night, whatever it is why are those companie positioning better in terms of the market expectation versu airlines is it something to do with the fact that they are better at perhaps squeezing more out, or is it because our propensity for consumers is dakota hotels cruise lines, i don't care about how we get there >> that's an interesting

question who tells have more competitio from airbnb. but airlines is lag, how can you get to california, you don't have a lot of choices. airlines came back faster, there were domestic travel there were other - business centers but cruise lines were much slower to come back then the airlines customers are going back t those source vacations and you see that throughout the winter cruise season in the caribbean it's a timing thing i think, with hotels airlines maybe didn't want to fill the plan but they want the maximu dollar for every see that they can fell >> we'll see how many dollar they get with this kind of pricing pressure lastly, we appreciate. leslie joseph. >> coming up on the show contrarianism coming up shor in a few cases this year highly short, unprofitable names like firms, massive come back we'll have that story and the shortstop when power lunch returns after that hm?

you! your business bank account with quickbooks money, now earns 5% apy. 5% apy? that's new! yup, that's how you business differently. >> welcome back. all right, sheila, are you throwing a dress like a dad party, a birthday brunch, or a vow renewal for your dogs? yes! the right drinks delivered for any party. drizly. all right, sheila,

are you throwing a dress like a dad party,

a birthday brunch, or a vow renewal for your dogs? yes! the right drinks delivered for any party. drizly. there have been some bumps i the row to the clean energ future we're seeing it in the demand, or lack thereof of electri vehicles we're also seeing it in clea energy and solar those talks about a rough 2023

so what does 24 bring? let's turn to pippa stevens fo more >> hey, -- on expectations of the fed pivot. but still posing a straigh year of losses, hit hard b higher rates the tan found in i share global clean energy funds ar down more than 20%, and seeing their largest outflows ever, since launching 15 years ago the 2023 also saw sola installations -- so how can both of those w true residential consumers are more price sensitive, so there' higher interest rates have put a damper on that part of the market but utilities are stil building out the green grant and investing in solar so looking ahead, analysts say to stick with a larger players bowman in kalin both - and scholes technologies wit jpmorgan, pointing to tracke names like array and nex tracker. when we think about renewables solar and wind come to mind. but there's actually a lot o other ways to gain exposure, including electrical equipment

companies, that bernstein call the pits and shovels of th energy transition. that's names like wonk services, and akon, which ar hovering around record levels, as well as jake up solutions and 18 kelly, a lot to watch here >> indeed, i wonder, we also turning -- to some investment feedbac here you, know a lot of people knew these stocks, the newer ones the -- weren't as reliable. why would you say though about those who are maybe -- for 2024 do you try and pick throug this for some value? >> i think you look at cas flow i think interest rates wer really the main driver of this because companies that are not gonna be profitable, at leas in the next six months to 12 months, investors are just not gonna pay attention to them. it's the same thing that happened to the ipo market when you have rates where they are today, the cost of capital is so high for all these manufacturers and companies, that is really hard for them t even get capital at thes rates.

so you have, that and then the consumer also, which we just kind of mentioned, it's harder for them to do so. i would stick with companies that are profitable, or just about to turn. >> do you like the traditional energy, the x, on the chevron? >> i do. we own chevron, we don't pioneer, eog, i think it's $70 they make a ton of money, boun sheets are in great shape. you know, unfortunately, we ar just one drone strike away fro oil popping another ten or 15% it's $70, with two wars goin on, and you don't have any issues but you, know it's a hedge i your portfolio these are great -- and i think you can be profits on them in the multiples you've got - as part of a diversified portfolio, i think you shoul have some of that exposure >> i think a lot more investor are thinking that, way especially after 2023. >> i would said, it could be a 2021 all over. >> having part of your portfolio, given kind of where they are, it helps >> all right, thank you very much let's get over to juli

boorstin for our cnbc news update good afternoon, happy new year julia. >> happy new year to you to, dawn south africa launched a case today the. united nations top court seeking -- against -- that we've discussed that is the egyptian red crescent in north -- told nbc news about the raw an -- border crossings were open thi morning. the official said 103 trucks with humanitarian, medical, in food aid entered gaza, as well as for trucks with domesti fuel he added 3200 people were able to cross into egypt with their relatives. north dakota governor doug burger - declared a statewide emergency today due to the ice storm tha has been sweeping through th state. the storm knocked down power lines, leaving more than 20,00 people without power around th christmas holiday. the news released also sai he's planning to ask for federal aid through presidential disaste

declaration, to help cover repairs. becca, over to you >> julia, thank you very much. julia bore stint 2023 was a year of breakthroughs and surprises fo the business world it started and ended with a lo of a.i.. and lots of deal making, plus, a boom in weight loss drugs, and taylor swift domination, after the break we'll take a look back at some of the mos impactful trends on stocks and the economy. ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪

why are we the only birds heading this way? what migration is...spy? stay close and everything will be alright. [ gulp ] i'm okay. yeah, no. hold on!

[ quack, quack ] the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. welcome back to powe

home of the xfinity 10g network. lunch. we have 90 minutes left in the trading floor, everyone. the year that's a regional ban failures, tons of strikes, and of course the rise of a.i. let's talk about other stories that weren't born into markets and consumers and look at what to watch for 2024. there's highlights of 2023 predictions. here is a sderot stubby, and steve kovach joins us as well. steve, let's start with you, big year for your coverage it started off our differently let's rewind >> so much of the magnificent glow was around a.i. of course we have to rewind back t january where a massive layoff starting from microsoft, amazon, apple is the only one that didn't have these massiv

layoffs. while yes the a.i. story was very true for nvidia, after th sod or side it was - less of an a.i. around them bu they really did listen to what the investors were looking for after just going bananas durin the pandemic, over hiring, overspending, that got slashed over 100,000 tech jobs los this year, so much of that concentrated, 27 alone i amazon >> we made the point before, it's worth emphasizing imagine we didn't have generative a.i., all the point to be very different, they gav them a whole growth narrative. >> it's worth looking back the growth narrative and the cost control and so forth that we're talking about th beginning of the year, it ha it's a fact. there's real, concrete affects even apple with the layoff they cut back as well. they were investing in certain areas like a.i., that's what they said, we don't get to see

any of that come out this year but, look, everyone scaled bac in their own way there's a human cost to this >> remember jen alliance, ther is a great story, many of thes tech firms on silicon valley are cutting their diversity an equity budgets, and part o that is laying off - >> there's a whole hangover of elon musk's twitter purchase i 2022, and he showed up with th kitchen sink and gotten cut 90 of the staff, that was the tone >> meadows slashed 11,000 jobs they got it kicked off >> you're highlighting the yea efficiency that deserves to be highlighted. >> for me, we just came out of a huge covid issue people were down and about and then you have taylor swift, th year of 2023 it was a feel good for everybody. it didn't matter who you are you add that on to the footbal

area, what she did for our economy, what she did fo people not just in the u.s. bu globally, it's something w might not ever see again >> maybe for the next album. >> what it shows, what i signifies watching all of th coverage around taylor swift seeing the tour venues and everything, i don't remember covid, the lockdowns, and th lack of travel all you saw were these massive venues all across the world, packed with people, elbow to elbow, shoulder to shoulder, cheering on taylor swift it made you feel, hey, this is normal again, this is life again. >> it was pure positive energy it was something we needed and people could focus not and not hold them down, you add al that and you could say, look you can do this as a busines model and look how she did a it's a great example for s many others out there that thi can be done in a world where

everyone is thinking about the negatives that we have, focu on this as a positive and move forward. >> we high lighted for the investment themes, sorry t make this pivot, people coul say, yes, we have -- in recessionary territory. look at what's happening people are going and spendin in services, experiences >> you had the movies, beyoncé a whole bunch of things that two years ago we would've said this would happen and people would say, no way, we'll b watching, streaming movies o something. >> riding are pelotons >> look how that all reversed. >> the 90 part to me is, the reason why i go back to th covid thing, one of the bigger themes i saw in 2023 tha really played out was the idea that health was in focus, ther was an underperforming - that was g l p1. -- appetite it's the obesity staff, al

those things that came in full force, it propelled many o these drug companies tha weren't activist as much and covid vaccine in distribution. and all of a sudden they shifted the narrative away fro a life-threatening respiratory disease all the way into, hey, let's see if we can contro diabetes and at the same tim control way. >> control, addictio cardiovascular -- >> to me, it was a huge story. as long as we talk about a.i driving the tech narrative obesity and diabetes drove the farm a narrative in 2020 >> also the fast foo narrative. >> and the airline narrative and everything else. >> >> it tells you researching development is still there it's important in the health care sector, you never know who's gonna come ou with the next thing. if tibetan companies with th development. powerpoint >> eli lilly is now the most valuabl pharmaceutical company in the. world it didn't have a covid presence -- >> remember when the danis

central bank had to reac because -- these and kind of impact for top. biotech, obviously, levitate the last couple of weeks a well on all of this optimistic view you guys are talking but i don't know if that's - >> part of that is interes rates. when the fed was raising nobody want to touch biotech stock again. and you could see that reflection all of a sudden, we turn around, look at moderna stop, look a some of the other life science stocks that didn't have cash flow they're all doing better it's amazing what -- let's pivot and talk predictions for 2024 steve, we'll start with you. >> still, when we talk about a.i., still gonna be a microsoft and invidious tory for the most part. a lot of people working on stuff, as far as the companies actually generating real sales there is that. and like i tell you last hou metaverse. it's coming back apple headset coming soon. >> really interesting, something we kind of that wa in the past. >> with apple getting in, to the sea much much more interest the nature of the company. >> would you invest around the coming of the, what's th headset called >> vision pro. >> vision pro, sderot?

>> i'd be wary these are not, maybe i haven't seen the output right now. >> snapchat glasses, googl glass. >> that's gonna, be $1,000 for a phone, how much you're gonna pay for something else i addition >> 30 $500 it's a big one >> it's a wait and see >>,? >> i think the fed interes rates, i'm not for believe that we're going to 2% i think you've got wages tha are still increasing, housin that's still strong. and you've got too many things politically. i think the fed is going t have to see where the econom is plus, at some point people gonna say our debt is too high it's not that i'm so negativ on i think the markets kind o pricing in the goldilocks supe scenario i think we just need to wait and see how it comes >> you are not there anything? and >> we just said geopolitic is the one thing that i'd be most curious about about whether or not we do see any kind of a real impact. it's not to minimize what'

going on in places like israel palestine, ukraine, everything else but the markets have shrugge all of it off. and have for years at this point. we'll see if it doesn't change >> can we leave it on taylor swift? >> i like, it i like >> leave it on taylor swift. thanks very much, guys many went into this you're betting against -- the buy now pay later theme in general. that stop, by the way, has 22% short interest it ended last year down 48%. this year, it's a completely different story. it's gonna be up just around 464% this year still, way below its pandemi eyes we'll break down the moves in a, moment right after this. you know when you have those moments?

that time to reflect. to be like wow! what did i do to get here? (tense music) right. work. you worked hard and it's time for a bank that'll work hard for you. everbank performance savings is built to put your money to work with some of the highest rates in the country . going, got you where you want to be. we're the partners for your next move. everbank. advantage, you. welcome back to power lunch.

as - market sentiment can turn on a dime sometimes we saw that as some of 2022' biggest losers became this yea

's biggest winners kate rooney look at some o those names and why they bounced back it's a lot of negativity that' gone the other way >> that's right, dawn. affirmative, and all that, affirm is the best performin tech name. at least among those with market cap above $5 million. it has quintupled this year. it's been pretty much tournament story if you look back at last, year affirm was staring down losses of about 90% at this time last year unprofitable tech names overal have been some of the most beaten up names as the fed started hiking rates now, cuts are on the horizon, investor now warmed backups to some o the riskier money losing growt stories. affirm also a way for investor to get in on that buy now pa later trent. b np, l as it also called wa up about 50% this year and more than 40% if you loo at just that black frida weekend alone. that's according to adobe. and then there's short interest -- it's among the most shor covering this, year emotiona today. ms.'s this biggest rallies i that stop. also become a favorite among retail investors almost a quarter of its tradin

volume, at least december, cam from individual traders. that's according to vendor research it was a very good year fo affirms top investors. you've got shopify, th e-commerce company, owns about 4% of affirm that steak is now worth over half a billion dollars you got peter thiel's founders fund, that the second larges individualistic shareholder. and then the company founder and ceo, max love chen he's got a stake worth 1.4 billion dollars. guys, those $250 million a yea ago. good return there. affirm is not the only money losing high shorter name with banner year, coinbase sets the runner-up. amid this bitcoin reboun that's up more than 4% 400% as well >> just a massive run. they've both been, on kate rooney coming, up a deluxe three stop lunch. two traders for the price of one. we'll be right back to close things out there is a lot of information out there. hamas is a terrorist group oppressing the palestinian people. hamas refused a continued ceasefire,

a continued pause in fighting and more aid from israelis in exchange for just freeing more hostages. instead, hamas resumed attacks. not to protect the palestinian people or obtain peace, only to destroy israel. we must stand against hamas and stand with palestinians and israelis for basic human rights. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. welcome back to power lunch.

time for the final three sto launch of 2023 today, we're looking back at the biggest moves of 2023. first up, salesforce is the biggest gainer in the dow industrial doubling in value over the pas 12 months. here with our trades is bori

slash, bergh - managing director of f tragedy. also a cnbc contributor and, o course, back with us here on set, sderot city of ecl. both's, you first. the thoughts on the best performing stock of the doubt. crm. >> i think this is a reason wh this is the best performing. it's really well positioned fo this new economy it has a very, very deep set o tools for all of the busines transactions that are bein done online essentially help people close business deal digitally. and it's news product which is the einstein chatgpt, perfec example. already got 70% penetration of the 14 100 it's an a.i. tool. a.i. is kind of like the perfect use case for salesforc automation and crm techniques from every aspect, it's really a great stop it is, however, very expensive also very very volatile. people have to understand, during the pandemic th contraction was from 30 to 15. any kind of a tiny bad piece o

news could be very, very dangerous for the stop my view, as i love the stop. i would much rather participat here with long term options. if you go 2015, you buy the tw 5300 calls spread, it cost you 20 to make 50. that's probably the right wa to trade it. if you want to ride the tren up, and control your risk of going forward in 2024. >> sderot, when we think about salesforce is this the way that you would play cloud slash a.i.? >> i do, i like the. company i think boris is absolutely correct you bite on the. dip by d'arnaud, now wait for. earnings, if they, miss th stock is extremely volatile. >> all right, let's move o into a stock that among the to losers in s&p for 2023 actually dollar general. former darling the discount retailer on dee discount itself down 45% yea to date. boris, is an opportunity t pick it up >> i think so. the g destroyed its business b basically having understaffe stores and inventories all ove the place. and it killed a brand for

while. they have new management reall trying to work on that to tr to basically re-staff to store and re-inventory the product and make it much more viable and track more trafficked. this is the first time they've had traffic that actuall increased. the same store sales are still lower, smaller ticket items. on the bright side, they'r opening about 800 new stores i rural areas where there coul be like the only merchant of choice that inventory pops up - it's not gonna be a problem. it's really a question o whether can manage would execute? the stock is up 30% from the lows if management can execute an increased traffic, i think the can rebuild it the bottom line is that this discount business is a very, very good business model their business models not th problem. it execution that was th problem. this is a bet on you management if you want to go that way, think having a chance here >> what do you think sderot? >> not a fan of the retail sid of this at this point. i think where the consumers, and the money being spent is gonna be very specific i think the stocks down, i think it still got a ways to go this could be one of those let them execute first and then by if it's most b

before execution >> for the final three sto trench - lunch trade of the year. it is the stock, it's commodity. it's gold. it up 14% so far this year it's on track for its best yea since 2020 it's not the digital stuff it's the real, hard, you use i at an electronics. you buy it in bully inne cubes. coins. is this gonna be a trade for 2024 boris? >> it could be i mean the greatest thing abou gold is actually the price action it's trading very, very well it seems to be a accumulatin all the way to the end of th year however, golden authorities fo fake outs it's been flirting with this 2100 all-time high, three four times already to me, a real by here if you'r a long term trader, is going t be if it breaks 2100 in hold it on a monthly closing basis. then you have a lot of confidence as well as the fact that if yo kind of look at the -- futures market if it does to under 50,000 or more contracts per day, that's also gonna b

very good side it's gonna be a lot of volume coming in. ultimately, gold is basically fear trait on feet if we had any problems with th deficit if we have any problem with interest rate coverage, o the deficit, all of thos things in the geopolitics that can happen in 2024 could definitely make this skyrocket i'd like to see the pric confirm all of this movement ahead of time. so it's not a fake out again >> all right, so right, let' not talk about gold for second let's talk about silver. which some people are callin the catch-up trade to gold because it hasn't been as much of a focal point >> i think gold needs to lea before it silver starts to catch up it's always been a case. but i do like the gold idea. we own it, to your word or 202 geopolitics, that's where yo want gold is party a portfolio we only through tech resources but i think you want to have i as part of your diversifie portfolio. >> all right, that's the final three stop launch of 2020. three boris schlossberg, thank recording of the year for us >> happy new year. >> kelly, this is gonna be huge >> epic. ep

and it's next. don't go anywhere, people. (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ rylee! from rylee's realty! hi! this listing sounds incredible. let's check it out. says here it gets plenty of light. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal,

on the iphone 15 pro made with titanium. we mean it. amazing. all my agents want it. says here...“inviting pool”. come on over! too inviting. only at&t gives businesses our best deals on any iphone. get iphone 15 pro on us. (♪♪) welcome back

it's our final, closing time o the year it's very bittersweet. three minutes left in the show several more stories to ge through. let's get right to it. starting with drugmakers including pfizer, santa fe and tequila planning to rais prices in the u.s. and more than 500 unique drugs in early january this is according to data from health care research fro access advisers.

the expected price hikes com as the industry gears up for the biden administration t discount prices for ten high cost drugs that we should mention, as w talked about things for 2024 this is going to once again be a big part of the discussion >> look, health care generally important. one of the most unde performing sectors i think the companies, as yo mentioned, who did not participate in gop, or tryin to raise prices, trying to get their valuations back up i think it's gonna b interesting to see what th government does. >> it's also an election year. that's the thing the rhetoric always ramps up around this time of year because of what's gonna happen with regard to these types o headlines. how it resonates on main street and then what politicians will do in response to. that >> not overly dwell o this, i do think watch the space the disruptive space cos plus of mark cubans do it. i saw even dr. gottlie tweeting about the other day -- >> cvs health look at some of. this >> exactly. being from going to play lik that cvs is making those bi changes. >> all about using efficiency. to see what your biggest retur on investment. >> wouldn't it be a way to forget some real efficiency an productivity and health care space? talk about transformative. >> speaking of transformative,

and all of those other thing and efficiencies, let's talk about chinese tech company baidu. it says it's chatgpt lik artificial intelligence produc named ernie bought has surpassed 100 million users. microsoft back open a.i. sai november, chatgpt had about 10 million weekly active users. here's what i would say, and this is kind of the more not scary front but it's a cause o concern. china is set up to have a good start in a good momentum trade on this. because they don't have th same kinds of restrictions tha we do and how we develop a i meaning, they don't have any restrictions whatsoever. they'll train their larg language models on anything, copyright's not gonna be a issue as much, we have the new york times suing open a.i. and microsoft i don't think ar gonna have that in china a much as we do here >> the only thing you gott watch, for just as you have an intense set and alabama, whe the government decides tha they want to do something -- >> they will crack down. without anybody coming in. those have a front page saying

hey, you can't use thi information or this is proprietor that's why you get the discoun for valuations of the chines stock. >> it's interesting, without invidious top-of-the-line chips, those -- are not a stables otherwis could. b maybe they're doing an enron around this. we'll see of that or - is really pulled for >> nvidia announced they'r actually producing chips for china specific -- >> throttle down versions for. john >> which does make a bi difference in the pace o development. so, anyway, multiple start-ups this is our last story of 2023 the opportunity in the household food waste business, as federal and state governments are trying t reduce food in landfills the federal government wants t slash food weights in half b 2030 the business problem is whethe people would be willing to pay to pay to send their trash away? do i pay taxes for this? >> i also pay a trash compan to come and take my trash. recycles a what >> would you mean you pay trash? >> in our town, you don't have municipal services that take away trash we have to pay contracte

companies to take our tras away >> does that keep protecte lower overall? >> on a relative basis, i thin it does. >> >> did you know this >> i did not. mr. rogers outfit. >> it's like my outfit, guys >> you can tweet me, thumbs up thumbs down to his casual. look he can wear that for 2024 thank, you everybody, by the way, to our whole production team all the crew in here they call for hard work. >> thanks for watching, powe lunch. >> closing bell starts right now. >> all right, thanks, guys happy new year welcome to closing bell, i'm mike santoli in for scott -- this make or break our begin with a quiet close to a boomin year on wall street. the benchmark s&p 500 wavering just below a record high sitting on a near 25% gain wit an hour of trading left in 2023 the index still has a chance a a ninth straight winning week. a rare display of persistent strength for stocks, even as the small cap -- slips giving up about 1% on th day,, after a grip