hercules capital >> jim >> gm on earnings next week. >> josh? >> look at toast right now, bro. >> bryn, quick >> jm morgan >> have a good weekend see you on "closing bell." "the exchange" begins right now. scott, thank you very much i'm tyler mathisen in for kelly evans. here's what's ahead this hour. intel down double digits with guidance there is weak but one guest still believes in the company's turnarounds story. she is bullish on the stock and she'll tell us why we just got the key data point on the economy before the fed meets next week. did it change anything on what we can expect and what the market hopes to hear from the fed from here? we'll discuss that and it's been a bad week for several high profile names our trader is bailing on three of them, but buying on one she

calls seriously cheap. but we begin with today's markets and dom chu. he's got the numbers >> relatively calm, tyler, and we are on pace right now for a decent 1% gain in the s&p 500 if things settle where they are right now. but it's been a mixed picture so far. tech is underperforming. the nasdaq composite at 15,441, down 69 points the dow industrials modestly flat to slightly higher, up just four whole points, not a lot and the s&p 500 is at 4884, down about nine to ten points right now, one quarter of 1% declines. it's been a fairly tight range, but trending toward the down side of things at the highs, up 12 points and down 12 at the low so, again, a decent range that's fairly tight, still tilting toward the lower end of that the week overall has been focused on certain key names that have reported earnings so far. if you take a look at the overall picture for the last

week, the communication services and energy sectors have done the best communication services being helped a lot by that big jump in netflix shares over the past week consumer discretionary is down about 2% the worst performing sector in the s&p for the week that's due in large part to the drop in tesla shares tied to earnings so keep an eye on those particular sectors over the last week they're the ones that stand out. and then tyler, you mentioned intel. just to put things in perspective, this is a dow component, big chip company out there, down 12% on the day that move right now is still kind of underscoring a little bit of what's happening, even though it's up 45% for the year. as you point out, the outlook is what has people worried, and even last quarter, they saw a slowdown in their unit that handles things like data center chips and artificial intelligence application so keep an eye on intel. back over to you, ty >> dom, thank you very much. intel is where we begin today, and ceo pat gelsinger is

messaging things will improve over the course of the year. >> we don't see any unique inventory issues outside of the non-core areas we have talked about. so we think where the market is right now in terms of its outlook, and we see our products are well positioned, our competitiveness is good, our market share is solid, and we believe we'll be improving in all of those metrics as we go through the year >> for the full interview, tune into "closing bell" at 4:00 p.m. eastern today. now, the stock we should note is down nearly 30% since he became ceo of intel despite that, our next guest says she still believes in the turn around story, which she says isn't near its end yet. she remains bullish on the stock long-term. let's bring in kim forest. welcome back good to have you with us the issue here is not the company's past performance,

their earnings beat, revenues were higher than expectations. it's all about first quarter guidance here, and that's why the stock is getting taken to the wood shed today. correct? >> sure. and, you know, this is what happens when companies set a really -- oh, sorry. this is what happens when companies set a low bar. i think they're setting it appropriately. some of their caution has to do with the chips that they sell into the telecom -- [ audio difficulties ] -- an area that's been very soft for maybe the past 12 to 18 months and continues to be soft -- [ audio difficulties ] -- and that is what they've really done here is definitely not overpromise. >> they're underpromising, if anything dom pointed out in his report, i don't know whether you were able to hear it, he said that there was, i guess, some weakness in

ai chips and data centers. well, those are the two buzz words these days, right? if you're not hitting there, if you can't say we got ai chips and data centers and we got it covered, you're going to get penalized. you seem to think, though, in the long run this is a stock to own, right >> we do, for two reasons -- [ audio difficulties ] -- ai is white hot right now specifically, nvidia chips are white hot. but here's the thing -- [ audio difficulties ] -- at less than the price of an nvidia chip, i think you have a winner that is why i like both amd and intel. [ audio difficulties ] >> -- ai is going to create a tremendous opportunity for downstream chips, including data center buildouts -- [ audio difficulties ]

-- and soaking up all the chips or the companies are taking a break about buildout so it is an erratic kind of cycle. >> speaking of erratic, i'm afraid the audio is a little bit erratic on your feed, kim. we're going to break away. thank you for your perspectives today, as always we appreciate it we're going to slip away now, however. thank you, kim forest. let's turn to the economy and core pce that is the fed's favorite gauge of inflation it ticked up 0.2% in december, in line with expectations. year over year, it was up 2.9%, that's the core. that was slightly less than the forecast our next guest says inflation is starting to cool, but the consumer remains resilient, defiant, and she doesn't expect the fed to cut rates until may joining us now, diane swank, and steve liesman joins us, as well. diane, welcome steve, welcome to you. take me through what these

numbers tell you, and what they imply about what the fed might do and/or say next week. >> well, the fed has got to be really happy with these numbers. they're just stunningly good, and the cooling of inflation through productivity growth, you couldn't get it a better way there's almost a tinge of the 1990st boom in here, and i think the fed has to be feeling good about itself that said, it still has put itself in this position where it's not ready to cut rates in march, but i think by the time they're going to start discussing rate cuts in ernest at the january meeting, and then the debate is going to get really heated in march to have that may cut instead of waiting until june this is, you know, at the same time, we have some people rotating into voting positions, who have already staked themselves out as wanting later rate cuts out there. i think that's what the navigation is going to be. but it's going to be hard for chair powell to contain his

enthusiasm at the press conference once again. after the statement that comes out next week. >> steve, once you throw in food and energy costs, the headline inflation, 0.2% for the month, held steady at 2.6% annually the fed would like to see it maybe a little lower, but this is pretty dog gone close to their target, isn't it >> yeah, tyler, where are the party hats and the kazoos? i'm just wondering here we are, the first good thing that happened was that we have the core with a two handle on it for the first time in who knows how long it's been that low i'm looking at the three-month annualized core rate at 1.5%, and then powell's super core, which is services housing at 2.16%. the problem is not where it is now, the problem is how long it's been there, tyler

i think the trouble is, i only have this one statement by the fed to go on, which is when they're going to cut rates that is that inflation is heading back down towards the 2% target sustainably you can't really make the sustainable argument, especially just to undercut the data i just gave you some of this three-month and six-month annual stuff can be very volatile because of things like seasonal adjustments. bottom line, you're going to have to see it there for a little bit i don't think march is enough of a little bit for the fed to have that confidence that it's head down to 2% on a sustainable basis. i think it needs a little more time, but the numbers are real good >> diane, i see you nodding, so you must agree >> yeah, steve and i have not always been in agreement, but respectfully disagreeing at times. but we are in 100% agreement

right now. the idea that the fed wants to see -- we were getting 0.16. now we got 0.17, so getting 2.9% the fed had to be getting similar numbers, they knew it was going to crack below 3% on a year over year basis at the end of the year. if we knew it, they had to know it that's the good news you know, they want to see it down there for a little bit, and you're right, they want more proof that it's not only going to get to 2% but stay there. they also don't want to get to 2% before they cut and they want to cut before they get to 2%, which is that sort of difficult sort of balancing act they're doing. but i don't think they're going to get to 2% on a year over year basis by may so i think we're in good shape for a may cut, and that's when we -- that is not necessarily where a lot of people think it will be. the biggest bet is on june but i think may makes much more sense, and there will be very heated debate about really getting that cut into may. and i think you're going to see

in march them setting it up with an addition al kut, instead of just three cuts, we've always had four they're going to add a cut into the economic projections for the year of 2024 >> steve, why don't you jump in here i would like to get your thoughts on the growth numbers that came out, what was that yesterday, 3.3% in the fourth quarter? >> yeah. that's exactly where they want it to go i'm fascinated by diane's take on this, too i would like to point out that i always respectfully disagree, just ask rick santelli about that >> i know you do >> i hear you. i'm looking at the wage numbers, diane, instead the personal income numbers 6.7, 6.8%, and rising. the question the fed has to ask itself is whether that is something that should stay its hand or whether or not some of the better productivity numbers

we've had recently say, you know what it's okay. people can be making more and it not be inflationary if, indeed, we have these productivity numbers to back it up. i bring that up for another reason, which is that people keep pointing to the government stimulus as the reason why the consumer is doing well, but they're ignoring these wage numbers that are there, which to me does a lot better job of explaining what tyler was asking about, which is the strength of the economy and the consumer >> diane >> absolutely. i agree with you on that it is one of the things that is the great debate are wages a problem or not for inflation in the service sector? will a floor form under inflation, and that's what they're worried about. that's why they need more time for exactly the reasons you said before, they need more time to know that inflation is not only moving towards 2%, but going to stay there once it gets there. these price stability. i think that's very important.

the elevated wages are justified if we have continued productivity gains, but i do also think it's important. january is going to be -- there's real upside risk to the january employment number. we laid off on average every january in the 2010s, 2.87 million people that is a big seasonal to go against. last year, we only laid off 2.5 million people, that's what gave us the strongest month of the year in january for 2023, which was over 400,000 job gains so we could see an upside surprise on job gains, and we still have those union negotiated contracts, which void wages in the month of december, and had a slight uptick on those average hourly earnings. we could see those spill over into more increases in the month of january, and they're going to be watching that very closely. so i think these are the things -- reasons why the fed doesn't go in march and why we never had a cut in march, but why we stuck to may.

but also very moderate cuts, only 1% over the whole year, rather than the 1.5 to 2 that we have seen markets fluctuate. >> i'm going to get steve's reaction to my question and then back to you, diane what do the recent numbe ers sa to you, steve, or more pointedly, those in the ch chatoisfear who expect the economy to slow down the guidance has been a little soggy, but what do these numbers tell you about the prospect for a slowing economy in the first half of the year >> the first thing, tyler, is to be humble before your predictions here, because economists and forecasters have been extremely humbled over the past year or two, and i think that speaks to a dynamic in the economy, recovering from the

pandemic that has not been one that's expected or followed any of the models that they had this number 2023 gdp accelerated from 2022 amid one of the most ambitious rate hike cycles the fed has ever been through. so you've got to throw a lot of that stuff out what we do know is that the economy seemed able to grow with these higher interest rates that we had the consumer kept on keeping on, in part because of the government stimulus, but also because of higher wages. i think to sit here now and say yes, the economy is going to go through a recession would be fool harty at the same time, you expect there is some payback from the higher rates i think the economy will slow. i think maybe the second or third quarter might be shape up to be below potential, but that will be a pause that refreshes >> quick final thought, diane, on that point.

>> i agree i think first of all, there's a lot of momentum. momentum is a very important thing. consumers not only have their balance sheep ts from the covid gain, but we have wage gain. once you start going, it's very hard to stop someone from not only regaining what was lost to inflation, but want to improve their living standards that's a lot of momentum to really stop. there will be additional feeling from a bench from the rate hikes down the road. we're seeing debt compound much more rapidly on consumer balance sheets on the credit cards they're not paying down as rapidly now but we are in a still very solid position for 2024. >> diane, steve, a lot of respectful agreement there >> tyler, i don't know what you're doing this weekend, but at my family, we're celebrating the core with a two handle on

it >> good. break out the kazoos >> i'll do that myself with some champagne, steve coming up, steeple shares hitting a 52-week high after an earnings beat. but the ceo says 2024 is going to be a "transition year for the economy. we'll ask him why and what he expects from next woke's fed meeting. the biden administration is pausing approvals for applications of new lng exports. rick perry calls it an act of economic hostility that will empower russian president vladamir putin and hurt jobs in some key states. he'll join us to make his case here's a check on markets with stocks well off their highs. the dow was up 166 points, now just 25. "the exchange" is back after this trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills

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welcome back to "the exchange." sharing of steeple financial hitting a 52-week high after reporting strong fourth quarter results on wednesday that a beat on the top on the bottom line. the firm reporting full-year revenue of more than $4 billion, the third best year in history on that measure, thanks in part to record wealth management sales. joining us now for a cnbc exclusive to talk about that and more is the chairman and ceo of steeple financial. ron, good to have you with us,

and congratulations on a very successful year. against some headwinds in the business, it was not a simple one at all let's talk a little bit about investment banking, which was a kind of soft spot for a lot of your competitors and your company, as well what do you see happening in investment banking this year, is it going to be a better year than 2023? >> i think it is going to be a better year. it is -- we did have a good fourth quarter relative to trend. but it was a difficult year. 2023, especially in equity investment banking, capital raising was down over 70%. m&a was down 50% you know, that was a tough year, not only for us, but across the industry so as we look forward, because of many of the things we've been talking about on the economic front, we think that activity in our institutional investment banking will be better in '24

than '23 that's not saying a whole lot, though but it's definitely going to be better >> tell me about wealth management has been a strong part of your game for a long, long time. what percentage of total revenues does wealth management represent opposed to investment banking? >> last year, probably 65% to 70%, historically about 60%. so wealth management had a record year last year, and of course, our institutional business was down dramatically so death management has been the foundation of steeple's results for decades. and it continues such today. >> let's talk a little bit about why you say this year could be a transition year opposed to any other kind of year what does that mean for your company and for the markets generally? >> well, look, i listened with

interest to your prior interview, and i think that the street, and certainly i running an investment bank and a bank, would chair for five to six rate cuts you know, i think that bringing out what was at the party hats and the kazoos, and i often agree with steve, but on that one, i really don't agree. i think that -- it might be a little early to be saying that inflation is conquered and rates are going to come down and we're going to do that hence, i think it's a transition year look, inflation is bottoming, but it's bottoming at 2.5 to 3%. so where does it go when it starts trending back up? i just feel that we just had 11 straight rate increases, and to think that we would flip into 2024 and we're going to have five to six rate decreases on one or two inflation numbers, especially with wages growing as strong as they are, i think it's

overly optimistic. trust me, i am talking my own book i'm hoping for. but we think that sometimes you've got to look at the consensus and the downside the downside is, you only get maybe three, two maybe rate cuts remember, you've got an election coming up, and i don't think you're going to see something happening right before the election i don't think it's going to happen in march. so you're dealing in the middle part of the year we see three, maybe four >> may, june, july but still, lower rates, you would applaud that, i'm sure you also are a little more, i think, personally or maybe the firm is, you think that street estimates of 11% earnings growth on the s&p 500 are a little bulliant >> we think so we think 6%, and that makes our forecast for the s&p 500 to be sideways in the first half of

'24. it's easy financial conditions, which the market thinks is going to get easier. we think a fully reflected in what is an expensive pe ratio, especially, you know, again that we think earnings will be 6%, kind of half the street at steeple. that's not just my view, i think that's a company view. >> let's talk about the equity market, which you characterize as -- or the firm does as relatively fairly valued right now. and you like some of the sectors that were not really the superstar participants last year, like capital goods, energy, financial services those among them i guess you're looking for a broadening out of market returns this year. >> we do we think that those sectors, including financials, will benefit from a, you know, a growth -- growing economy with sort of sticky inflation so we see that with only three

to four rate cuts, those will benefit the financials and s cyclical stocks for sure >> ron, thank you so much. we find it always a pleasure to spend time with you. thanks >> i appreciate it keep those party hats for a while. >> how are the cardinals going to do this year better >> they'll make the playoffs, so we help sponsor them have a great day thanks for having me on. >> probably the best baseball town in the country. ron, thank you very much coming up, it's been nearly six months since the devastating fires in hawaii. since then, companies, celebrities and others have donated $1 billion but where is the money going we sent jane wells to find out jane >> reporter: tyler, i'm outside the fire zone. we're going to go in later today. all this last week, i've been asking, who got the money, show me the money got a few answers, when we come back. ar...

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welcome back to "the exchange," everybody nearly a billion dollars destined for the aloha state as it recovers from the devastating wildfires six months ago amid all the pledges from celebrities and corporate

america, jane wells is in maui following the money. jane >> reporter: hey, tyler. yeah, the town remains closed to everybody, as the army corps of engineer begins debris removal six months a of the fire we've been trying ining to trae $1 billion that's come in. a lot was made of celebrities. my request for information on where the money has went went unanswered rock and oprah, i'm told they give $50 million to over 8,000 people and yesterday, i talked to someone who said yes, it's true. she's gotten it, people are getting. jeff bezos promised $100 million. they've handed out $15.5 million so far, including the maui

humane society where they are still caring for 300 pets and animals from the fire. >> they spent about $2 million since the fire on animal care. >> reporter: not much help for small business owners, though they have approved almost $300 million in loans danny wike was underinsured, but she's hoping a new store on the other part of the island >> i have some employees waiting to come back to me, and i want to support them, too >> reporter: the biggest problem remains long-term affordable housing. over 5,000 people are still living in hotels, but every suggested solution here is challenged it's very difficult to get anything done. so many cultural issues. sacred ground everywhere they haven't even figured where

the final resting place of the debris is going to go. a lot of work is ahead >> jane, what's happened to tourism in maui. >> reporter: it is coming back some of the resorts were closed for three months, it's now down about 14%, 15% but the good news is, so many other people are going to other islands. overall tourism in the state of hawaii, the number one industry, is only down about 1.5%. >> interesting thank you very much. now to courtney reagan for a cnbc news update >> hi, tyler the state department said today that they will pause funding to the united nations relief and works agency israel said 12 of its employee wrs involved in the october 7th attacks on southern israel the statement also said secretary of state blinken spoke to the united nations secretary-general to say that there needed to be a thorough investigation. the commissioner general said investigations have begun and that the employees were fired. the biden white house is

losing a top adviser next week after playing a key part in joe biden's immigration strategy for three years. katie tobin served as the director for security, and is leaving a at a time where border policy is at the forefront due to the record level of migrants crossing the border. king charles is doing well and will spend at least a night in the hospital after receiving treatment for an enlarged prostate today before going in for the procedure, he visited his daughter-in-law, princess kate, who also had surgery last week and is still there recovering. we wish them all the best. you know i follow that story closely. >> indeed we do. coming up, the biden administration pausing approvals for new lng exports, with the president pointing towards the climate crisis as the existential threat of our time we'll look at the fallout with former energy secretary rick perry, next. rylee! from rylee's realty!

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here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. and there's no catch. it's fre. we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. welcome back to "the exchange." joe biden hitting the pause button on new lng export projects in what's been seen as a victory for climate activists.

while critics say this will embolden vladamir putin in the ukraine/russia war, which has disrupted gas supplies in europe, the administration says the plan includes exemptions for national security should u.s. allies need more nat gas joining us with more with former energy secretary reck perry. welcome. good to have you back on cnbc. the president has characterized this as, among other things, a pause that sees the climate crisis for what it is, the existential threat of our time i assume you don't agree with that >> nothing that i can think of is going to put more coal plants back to work than this pause, if you will this is just bad public policy for a lot of reasons if you really care about the climate, you ought to be using clean-burning, american liquefied natural gas if you're european

they're going to keep the lights on over there, so they're going to replace these gas-burning plants with the old coal plants. they will put them back into production so what does that mean for america? well, it means not only are we going to see a lot of economic impact in a negative way, we're going to see jobs lost and these jobs aren't just in texas and louisiana where most of these plants are. it's in ohio, pennsylvania so the political fallout of this is going to be pretty substantial. while biden is worried about he's falling in the polls and looking for ways to get the left, if you will, back supporting him, and this is what this is about. >> i was going to ask you that, mr. secretary. do you see this, then, as really rather purely a political play to prove to environmentalists in the democratic party that the president's boneified is

environmentalism are pure here it's ironic, because as you point out, some of the biggest producing areas for lng is pennsylvania, a key swing state, ohio, another one. >> yeah, good point that you bring up, tyler. it has the added benefit of being true from the standpoint of how this action is going to be affecting the united states you know, you look at this administration and they make decisions and put these orders into place, because they can't get them through congress. they can't get the american people to support them, so he does them unilaterally i will suggest to you, the american people are going to send a message in november pretty strongly, that we want the border closed, for one thing. we want immigration policy, and not this open border i know that's a whole different issue, but it's the same concept. you can't get something done through congress the american people don't support it but this president, to play to his political base, goes out and

puts these things into place, whether it's this anti-american energy policy, and the other thing it's doing is sending a terrible message to our allies in europe. we're supposed to be supplying them with the power that they need, so that they're not held hostage by russia. >> i suspect -- >> russia views this as a weapon >> i suspect, mr. secretary, if an environmentalist, broadly described, were sitting next to me right now, she or he -- hers or his response might be something like this. well, we're already the largest exporter of lng in the world we have already grown our lng exports by a factor of three in the past 5 1/2 years and oh, by the way, these plants or installations that would participate in the export transshipment of lng, they're not just five-year projects.

they are things that are going to set in place lng use for a generation and we are trying to decarbonize, to step back from now, listen, natural gas is a cleaner fuel than coal, it is cleaner than oil it's cleaner than a lot of alternatives, but these installations would set in stone then a level of carbon emissions that we want to back away from could you just respond to that am i all wet there, or is that what anenvironmentalist might say? >> i suggest that's probably what they would say. it needs to have some basis in truth and fact and the issue is, the europeans are going to keep their lights on they're not going to go live in the dark and the cold. and the way that's going to happen is they're going to be using coal plants. we've already seen this. the transition is already back to coal is happening so the idea, if you care about the environment, as we make a

transition over the next 20 or 30 years, away from these fossil fuels to small reactors, speaking of, where are the environmentalists when it comes to zero emission small modular reactors they're against those, as well so they're really hard to pin down, other than to say, we don't like american natural gas being sold it's okay for the russians and the qataris and the iranians, but american natural gas, no we're going to stop that well, i will suggest to you that is the head in the sand approach that will get you in trouble, both short term and long-term. >> it's the irresistible to have you here and not ask you about domestic politics, and where you see -- presume that you see former president trump sort of waltzing to the republican nomination and into the fall's election, are you happy about

that >> well, i don't see any roadblocks in the way to that happening. i think president trump is on his way to the nomination, and frankly, i hope to the presidency, because i know the people that he will put into place. i know the policies that we will see there. and whether it's an economy that's growing, whether it's america being energy independent again, whether it's our allies being able to count on us and america being strong in the world again, what -- which one of those do you not like >> if nikki haley were sitting next to you right now, what would you advise her to do >> well, i'll leave that up to her. i've been in that position of coming up a little short >> yes, you have >> you know, i made the decision to step back and look towards the future i think that's what my advice to her would be it's very clear that donald trump is going to be the nominee, and we need to come together, work together. the issue now is, do you want

the continuation of the biden policies that are strangling this country in a lot of different ways, or do you want to go to policies that are economically strong, energy policy strong, national security strong that's the choice that the american people have >> i suppose we need to push back a little bit there. the economy is doing pretty well 3.3% in the recent quarter, job growth has been pretty good. that will be the defense that the biden administration will make governor perry, former secretary perry, thank you for your time today. >> you're welcome. >> thank you to rick perry coming up, you can't spell fund-raising without ai. the sums being used by some of tech's biggest names to capitalize on the hype "the exchange" will be right back

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frenzy in the start-up world, this time led by tech titans the likes of elon musk and sam altman now looking to raise billions for projects separate from their existing companies. diedra bosa has the story for today's tech check hey, d >> hey, tyler. apparently it's not enough to be running the biggest existing companies in the world these guys, they want to build the next generation, as well generative ai, you mentioned sam altman elon musk is in talks to raise up to $6 billion for his start-up bret taylor, the former ceo of salesforce, he's close to finalizing a $5 million investment and then sam altman who is raising billions to build ai chip factories it is very expensive to build in this space i mean, we have talked about the compute power that is needed that has led to billions and

billions going to companies like openai and an antropic and there is the question of talent i was at a dinner for some of the key players, the ceos of fox, data brick, salesforce, ai, we're talking about what is needed to build and develop. they're all very excited, the ceo of salesforce ai said this was a moment like 1997 the winners from now, like google displaced alta vista and yahoo. this is really interesting from the ceo of data brick. he says that a senior research -- ai researcher was demanding something like $20 million over four years. those are just astronomical levels, tyler. that's like athlete levels of compensation >> what is your reaction i'm looking here at an axios report indicating the ftc may start to look at big tech's

investments in ai. >> yeah. so we talked about this yesterday. this follows the european regulators doing a similar thing. they're looking into these type of deals that microsoft inked with openai and we'regoing to see if this is hindering the isn't giving an advantage? that is a development for some of these tech titans, although probably some of the smaller guys because they start with such an advantage and i have a easier time raising money. it just goes back to this whol idea of, who is going to win this massive shift tha something is a big as th industrial revolution? is it going to be th incumbents microsoft, google's, amazon, that are able to spend these great dollars on these ballo sheets, or if you're gonna b new players? >> fascinating stuff all right, coming up, this nam is the second worst performe in the s&p 500 this week but does the dip present a

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here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. and there's no catch. it's fre. we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. welcome back to th exchange, everybody. the major averages of record highs this week. that tide didn't lift al boats.

some stocks boasting major losses we're gonna look at how to train those tips in three bail and a bye. week, week, addition here with our trades gin sanchez, later advisers chie market strategist, cnbc market advisor. let's start with a market that plunged after the compan pronounced mixed fourth quarte results. disappointing guidance that has been the story fo some companies this week to punch air is down 12% thi week two firms downgraded the ratings to their hol equivalence. gina, u.s. steering clea altogether you call this a cell, right. dupont >> dupont is suffering on tw fronts one is they do have some cyclicality to a lot of the an users to their chemicals given the gdp numbers that should be fine the other double weigh me fo deep on is china's not takin up they are de stocking, and they are hurting them and they are not able to get over that. it is something that is really gonna continue

>> so, that is a bail. next up on our list of bails a member of the so-calle magnificent 7 that, jim cramer said, should be removed from the group. magnificent no more! tesla missed on the top an bottom lines after the bell on wednesday had its worst tradin day in every year. on thursday, 80 billion dollar in market value wiped out. that could pay for a couple of twitters right there your take on tesla, jean >> tesla is a tough one. they have such an advantage in terms of the charging networ they built out the car that they built is beautiful but they elon musk has started to go off on these tangents the cybertruck is, in my opinion, ugly. quite frankly had actual safet issues that may prevent it fro being sold in europe that is a problem. you have elon musk himself going on these tangential idea that are taking away from hi focus on tesla this is the problem. while i think they have th charges strong-ing network

they have the best car, th gross will naturally start t slow if they don't kee building on that there is a lot of reasons wh that focuses just not there. >> very tentative guidance out of tesla earlier this week final bail is human anna having its workday into days yesterday. share sliding more than 10%. surprising fourth quarter loss and week for your guidance a more medicare patients op fo surgeries they put out durin the pandemic that raises humanities cost. jean, you are not buying the dip? >> i'm not buying this one humana is blaming cost and medicare advantage program o their miss if you look, for example united health care, which is the largest issuer of medicare advantage programs, they are able to manage this better i think that this is the problem within human, and not problem with the medicar advantage program. >> now we are going to get a bye. paypal shares down, fell yesterda with what the front called a

unforced communication error new ceo alex chris told cnbc his reveal would shock the world. formally announce projects tha have been teased less spring some shock 25% this year. gina, you think this is an entry point on paypal? that, i think, is our myster chart. down 5% for the week so far. >> it is, tyler. i feel like i'm gonna go to my grave. am i gravestone she's going to say, she said people cheat what they are revealing is things that were already in th works. and actually cost a lot of money. it was one of the reason the had problems managing thei margins in the earnings last year or earlier this year, i should say. those are really gonna start t pay back the features and the functionality that are bringing, in particular with fast. lane the ability to very quickly pay for things, that i important. i think that will be beneficial >> got a leave it there. gina sanchez, lido adviser things very much that does it for the exchange. contestable were getting rdy for power lunch.

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alongside contessa bridger with shaky nick on that steady cam. i am tyler mathisen. coming, up the feds favorite inflation gauge, the core pc rising slightly in at nearly 3 from a year ago. between that and credit card company results, we have som interesting consumer insight to dig int