>> are you new here? we don't do this >> speaking of, "closing bell," we'll run you right up to this big night. stephanie link, joe, mark, lauren, we'll be all over it we'll track what's happening in the markets, too, as we continue to recover from those post palo losses see you on "closing bell." ♪ ♪ hi, everybody. i'm brian sullivan in for kelly evans today. here's what's ahead. timeline turmoil following fed chair jay powell's pushback on a march cut, the forecast revisions are coming in, including from goldman sachs, the chief u.s. economist here with the why and the what of what the timeline looks like now. plus, cutout four from the mag seven. our guest says the terrific three are the new play and he'll name them. and the earnings barrage rolls on, and why now is a good time to get in on three out of the

four stocks who are ready to report we'll name those names, as well. all that across the hour we begin with today's markets and mr. dominic chu with the numbers. dom, how are we looking? >> it's generally a green day, and we are seeing a bounceback from the losses that we saw post fed yesterday. if you take a look at the dow industrials up about three quarters of 1%, 275 points, 38,424 the nasdaq up 1%, 15,310, 146 points, and the s&p 500, 4888 right now. it's up 42 points, north of three quarters of 1% we're tilting towards the highs of the session we were up roughly 100 points at the highs, up eight points at the low. so generally a positive day. one other place we're keeping a close eye on that has downside momentum, and to a lot, a huge degree is in the regional banking sector, specifically in smaller and medium sized banks, due in part to that new york

commercial bank, nycb, massive drop yesterday tied to that surprise loss, a slash in the dividend by 70%. it lost 78% of its value yesterday, another 4% right now, well off session lows at this point. so there's a bit of dip buying, whether it's fundamentally driven or just short covering, who knows? but a mix of the two there it's lost roughly 38% to 40% of its value in two days. western alliance, valley national, webster, among some of the bigger regional bank names that are moving down in sympathy with concerns about commercial real estate. keep an eye on regional banks. and then you mentioned that terrific three, magnificent seven, terrific whatever it is right now at this point. well, apple, amazon, and meta platforms of course are going to be in focus, all up today after losing some steam yesterday. all three report earnings, and i know you like these stats, apple right now, the options market is pricing in a plus or minus 3.5%

move for amazon and meta platforms, both for these, you're talking plus or minus 6% so the options market is showing you a little of what traders are expecting right now. of course, we don't know fit's up or down i'll send it back over to you. >> you called it a green day so i guess you're taking the long view. >> i see what you did there. >> dominic, thank you very much. why don't we start then our coverage with the federal reserve. goldman sachs adjusting its rate forecast after powell said a march move sun likely. basically he said it's not happening. goldman pushing back, the first cut estimate from march to may, although the bank says it still expects five interest rate cuts this year. so let's dig in on all these stories. joining us now is the economist behind that call, david miracle, chief economist with goldman sachs, and cnbc's senior economics reporter steve liesman, as well steve, i honestly -- you know

me, never at a loss for words. but i think i am this time i don't know where to start with you, because everybody is focused on rates i get that but with the job market showing some cracks, with commercial real estate maybe and the banks showing cracks, could the fed focus also shift a little more to the other side of their twin obligations, and that is jobs? >> yeah, i think that's a good question, brian. and i think it may be starting to but i think it needs -- just like it needs a little more data to be confident to cut rates, it will need more data of weak job growth to make that call you still have relatively low jobless claims and the adp signaled somewhat weaker employment growth, as did the ism this morning i think there's a couple months of weaker job growth, the fed may increasingly put its focus there. it could speed up the timetable

a bit. but i think the data has to be pretty bad for that to happen. >> david, do you expect we'll get that kind of -- to steve's point, quote unquote, bad data and see that shift focus from inflation to maximizing employment >> not in the near term. i think for now, chair powell indicated there's a pretty high bar for tin nation data to give them the confidence that they want in order to cut by the march meeting. so we pushed back our base case forecast from march to may more broadly, though, i think you're right that any sign of something going wrong or something looking concerning could get them to cut a little bit more quickly that's why we kept five cuts in the forecast for this year i think there are a lot of scenarios that when you're starting off, with a funds rate at 5 3/8, and inflation has been trending close to 2%, the labor market looks rebalanced, a lot of scenarios could get you to

say we can cut a little more quickly. it could be a growth scare, it could be labor market data looking a little more mixed. i think on average, the labor market data are strong, basically comparable to where we were prepandemic that's the perfect place to be but there have been some conflicting signals. could be inflation slowing too much for their liking, as well >> inflation slowing too much. steve, we've been so laser and hyper focused on inflation for the last three years, with, by the way, good reason it looks like the inflation fight may have been one, looking that way certainly for the data, whether we get a big turn back up, we'll wait and see and seeing what we're seeing at a ups, 12,000 layoffs, cracks in commercial real estate and banks, you know the fed personally do you think they're going to have to start to talk about the other things that we really just -- because jobs have been strong for three years

>> you know what they say, brian. it's all good things and all good times we've had a really good and strong run of jobs it's not entirely clear that we are at balance i would be watching the wage data most specifically i'm not real question sure that you could be too strong when it comes to the number of jobs. it's the inflationary pressure from the job market that would concern powell and company over there, and on the downside, i think that you could have a period of time when you had either 100,000 or below that, and that wouldn't be seen as abnormal remember, brian, the unployment rate is 3.7% as david says, a couple quick higher numbers, if that hand, would get the fed's attention. but, again, they're saying the risks are more balanced, but they're not quite saying that the risks are balanced so they're not where your, brian, right now, in terms of

their abiding concern about the job market yet >> david, do you have any concern that inflation could reflare? we've had that before in history in the late '70s, early '80s, where you think inflation is kid, and then it reared in the '70s rears its ugly head again. is there any chance, anything in your models that suggest that inflation could come back? >> i think in order for that to happen in a big way, you would need some large external shock that none of us are going to guess today. inflation expectations are back to a level that's compatible with 2%. the labor market has been rebalanced from an initial state, getting back to conditions comparable to prepandemic, when we had, if anything, a low rather than high inflation problem. so this starting point is a healthy one. modern increase in oil prices. a little bit of the further dip in the unemployment rate

that's not going to get you into serious trouble. you need a big shock coming along. so i think the inflation fight is one at this point we have reanchored inflation expectations and rebalanced the labor market >> could the red sea stuff, shipping stuff, could that -- is that a shock, or would that not be big enough to create the kind of shock with no awe that you're talking about? >> i think it's not large enough the magnitude of the impact of these things, we've seen big fluctuations in oil prices in the 20 years before the pandemic sure, it matters a little bit for core inflation, for near-term inflation expectations, but it's never created anything like the seriousness of the problem that we had in 2021, 2022 so the red sea shipping, probably a bigger deal for europe than for us in the u.s. >> steve

>> brian, i want to bring your attention to the fact of what has happened with the feds fund rate, they have dialed out or increasingly dialed out the march probability. what they haven't dialed out is what david is talking about is the number of cuts that happen or the amount of cutting that happens this year. they're still -- i'm going to give you a fresh quote, 3.85 for the year so what's happening as you see on your screen now, brian, is an increasing bet there could be potential 50 basis point cuts coming, as the markets says you know what? i think you're going to the same place, you're just going to have to get there faster. i'm bringing this up to point out the idea that there are these 50 probabilities in there, but in part, there looks to be some bid on some of these issues here that you and david are talking about, that maybe there is a skip in the data. some kind of event that causes or the fed may need to move faster to catch up if you look at the june

contract, it's 50-50 between 25 and 50 basis point cut >> wow it's been three years of inflation, now we're talking about rate cuts. nothing is certain but change. steve liesman, david, thank you very much. since the federal reserve seems to be the driver of the stock market these days, let's focus on it and the money. even though the equity sentiment ticked down, the next guest calls small caps tomorrow's winners. and she has four names she likes. joining us now is nancy, the co-ceo and senior fund manager for essex investment management. nancy, i love it we've been talking about this broadening out of the stock market for three years it hasn't happened we saw a little bit of it at the end of last year what makes you optimistic on small caps, writ large

>> we thought we saw the beginning of it in the fourth quarter. january was disappointing from the viewpoint of the small cap benchmarks but what we are seeing underneath the surface is, in fact, some broadening of the market, and even last year, in a very challenging year for small caps overall, there were certain segments of the small cap market that did very well we know that tech did well but beyond tech, we also saw excellent performances, small-cap bench marks from the industrials area what gives us confidence is that the economic drivers today are the factors that are most favorable for small-cap stocks, namely the restoring of manufacturing, and the spending on infrastructure and the l electrification of the grid, our world, everything else, combined with attractive valuations in the small-cap space. and perhap excitingly for us is the positioning in small kaup in investor portfolios and

the market at large. one of the statistics we particularly like is that today, the entire russell 2,000, the small-cap stocks, are less than 4% of the entire equity market >> yeah. >> that is the lowest number that we have seen in decades and it compares to an average rate of 6% to 7%, and in the 'yagts '80s and '90s, it was 9% to 10%. >> let's go through a few names. here we go, nancy. i like nvt, electrified world, you're not worried about the slowdown that we're seeing in the ev space, the electrification trend you believe will still continue. >> well, the biggest driver for the electrification trend is not

actually evs, it is generative ai when you look at the buildout of data centers that we are seeing, and that we think we will continue to see, that requires a tremendous amount of power to drive that in addition, we know that we have recently seen the launch of bitcoin etfs if you are a bull on bitcoin, that requires data centers nvt is a player in those data centers, and they're focused on both the bricks and mortar of enclosures and metal boxes to hold the data, to hold the servers. but also on thermal management, which is increasingly important, particularly in these big data centers. so we think they have great growth soz >> so the amount of energy we'll need, we'll need a billion hamsters and a billion wheels generating power patrick industries, patk, building products for marine, power sports, rvs.

that would seem to be a little risky if there is a consumer slowdown >> well, it is in that sense however, what we like about patrick, there are a couple of things one is, it's a well-run company with a very strong management team the reason we like it now, and it's been a strong stock, but we are at the end of an inventory cycle on the rv side, we think we're near the end on the marine side and they just entered the power sports industry. these are industry inventories of the rvs, the boats, et cetera we're seeing sequential improvement in sales, and patrick has distinguished themselves through other cycles by continuing to gain dollars of content within their core customer markets power sports is a relatively new area for them, so we think they

can execute well even in a somewhat challenging environment. >> nancy, we appreciate the views. the other two names, love the picks. some new names nancy, thank you >> thank you we are just getting going. on deck, nearly $5 trillion worth of market cap set to report earnings after the bell today. and that is just apple and amazon the numbers and the narratives to know ahead of that. plus, with all the layoff announcement lately, tomorrow's job numbers, will it be another sign of growing weakness or not? we'll talk about it, where the opportunities may be for workers. "the exchange" is back after this did you ever stress about us having three kids? no, it was always part of the plan. (inner voice:three kids?!) (inner voice: this was never part of the plan!) (inner voice: these kids order the lobster mac and cheese.) (inner voice: what if she wants to play golf?) (inner voice: we're going to have to outlaw golf.)

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welcome back to "the exchange." we have more mega cap tech earnings on deck and full team coverage covering every angle for you. steve kovak in cupertino, california kate rooney with a look at amazon and james chuckmuck is here with the trade and why he's throwing out more than half the mag seven and sticking with just three big names. going to be a big block, so let's start with i guess steve, formally the biggest market cap company in the world >> yeah, that's right. it's a pretty dreary day here,

but analysts expecting a not so dreary report in the sense of apple returning to that topline sales growth for the first time after a full fiscal year that's four quarters in a row. comps are a little wonky there is a week shorter than before, but overall, analysts expecting $118 billion in revenue. that would be about half a percent sales growth for those keeping score at home. but of course, there's so many headwinds and other questions throughout the rest of the year, brian. one being china and this renewed competition apple is facing now with huawei, the chinese smartphone brand, that was out of this smartphone game for a couple of years. now they're back and we've been seeing initial data coming out, saying huawei is taking share from apple so guidance will be super important. we got reports earlier this week from analysts, and a top supply

chain analyst when it comes to apple saying apple is planning to ship 15% fewer iphones this year throughout 2024 than they did a year ago so listen to the call, brian that is going to be super important when we get that march quarter guidance from the cfo. what does the rest of the -- what does the spring quarter look like and the rest of the year look like also note, we're on the eve of the vision pro launch. this is apple's first major new product in nine years. that was 2015 when we got the apple watch. vision pro going on sale tomorrow so expecting to hear tim cook, who, by the way, graced the cover of "vanity fair" today first time we've seen him wearing a vision pro in person or photographed like that. there you go, you see him right there. so expecting some color about the vision pro launch as well, brian. >> i'm excited, because tonight at 7:00 p.m. eastern, tune in. we'll have the vision pro onset. i'm going to throw one on and

literally be on tv live. it's going to be like real reality, and augmented reality at the same time is it still with apple all about the iphone does icloud matter i'm paying apple a boat load every month for storage, apps, services, subscriptions, et cetera >> you are apple's favorite kind of customer, that's the services business which has in the last couple of quarters, showed some renew growth there's a lull coming out of the pandemic, as people were spending less on apps and services but that's kind of resurging again, brian, to your point. all the subscriptions that you subscribe to through the app store, apple gets a slice of every one of those subscriptions, and so we often hear apple say, we have this many millions -- or hundreds of millions of subscriptions through the app store. all of that is a sign that

they're taking a cut from it so yes, services will be another big number and iphone expected to grow a little bit, especially because a year ago, there were so many production problems in china due to covid shutdowns >> steve, long day ahead look forward to it thank you very much. amazon, meantime, is not all about ecommerce anymore. one thing investors are watching is amazon web services kate rooney here now with more on what to expect from amazon. kate >> investors are watching aws, because it's become the company's profit engine. expectations are high after both microsoft and google reporting strong cloud growth on their cloud competitors. it's all about the revenue growth rate. aws has been lingering around 12%. a little over a year ago,

though, it was in the 30% range. so 33% back in 2022. 13%, that is the number to beat today. piper sandler calls it the bogey and says that will determine the outcome for the stock. google and microsoft reported this week, both call that cap x increases, thanks to ai. they called it notable and material expect commentary on where amazon stands and how they'll mon sietize it and key investors are expecting margin improvement over there. they are looking for upside on the advertising business, with ads in prime video investors are going through multiple rounds of layoffs, as jefferies put sit. they are now in harvest mode as they optimize the cost structure. amazon's investment, rivian, could be a drag on the income, rivian shares down more than 30%

this year. >> amazon web services, you've got the stake in rivian. but i've got to imagine that ecommerce still matters. i mean, how many boxes of lacroix water or toilet paper, whatever they're shipping out, because everybody you know probably has a card board box on their step >> 100%. prime is key here. raise prices when it comes to prime, and they talked about that this week, getting that timing from where a box is in a warehouse to your front door is key. they're making that faster part of that is regionalization. so moving the warehouses closer to where people are using ai in some cases to anticipate if you're in arizona, you might need sun screen. if you're in the bay area, maybe not. they are using ai to anticipate customer needs ecommerce is still big that's why investors really watch that side of the business. it's become the profit engine. but ecommerce on the revenue top

line, still much bigger, just not as profitable. >> kate rooney, also with a bizarre premonition. kate, thank you very much. the next guest says forget the magnificent seven, it's more like the mag three or terrific three. focusing on meta, amazon and microsoft. he said it's time to hedge on tech as the sector could be due for a pullback join us now is james chuckmuck good to see you again, james i notice that in your terrific three -- we have to come up with another name, but apple is not on the list. >> yeah. essentially the way we think about the names we want to lean into and truly overweight is based on how predictable is the revenue picture and the earnings outlook and how much optionality is priced in or not with these

stocks among the seven, only amazon, meta and microsoft had that predictability, and the other ones we have question marks on like as steve was reporting, what happens when apple iphone shipments this year, tesla thrown in there, hands up in the air on unit sales for the year so more questions than answers >> you heard steve talking about apple. i'm not picking on them. everyone loves their iphone. but it feels like apple is a phone company. that's got to be niche product. and the icloud services business in your view, what is the proper way to value apple, just pure phone sales? >> i mean, we do look at it on some of the parts basis, but ultimately i think that investors will predominantly

value this on a pe basis you know, some of the parts doesn't always add up to how investors analyze and value these companies. so on an earnings basis, we think around 30 times is the right number the real question is, what happens to revenue we do think that mack book sales will accelerate this quarter and potentially come in ahead of expectations the big question mark is on the iphone, whereas, you know, we already know that service is going to be on pro vision. so iphone will continue to grind higher, but it's not one that we're going to make a common weight in the portfolio. >> very confused by meta, the form e facebook. it got destroyed two years ago the stock tanked it's now made up all of what it lost, and more how can a company like that, which has facebook, instagram, whatsapp, fall that much and then recover that much what happened?

>> it was really just apple changing its privacy standards >> that was it that little button we log onto a new app, it says ask app not to track. that was it? >> essentially, yeah it was owned by default for apple services but you had to toggle it manually for non-apple services. so what's interesting about it is, yes, that was a really tough year for meta. but they actually came out of that stronger and more defensive. and the changes that they made and the improvements that they made on the target inside actually made their products stronger and ultimately yielding a higher rli conversions for advertisers. so we think meta is in great shape. the big question, it is a top weight also, but the question mark we have is, you know, is the religion on the expense side sustainable or not honestly, we'll get called on

that tonight but that may change the calculus if it's sustainable, we think that at 25 times earnings, with $20 in earnings forecasted, this could be a $500 stock. >> wow but it's at $395 right now, so maybe another 100 and upside james, good to see you thank you very much. >> thank you coming up, the renaissance ipo etf coming off its worst month sense august is there an ipo pipeline problem? and is it helping the best companies stay private maybe forever? we'll talk about what it means for venture capital coming up. (ella) fashion moves fast. setting trends is our business. we need to scale with customer demand... in real time. (jen) so we partner with verizon. their solution for us? a private 5g network. (ella) we now get more control of production, efficiencies, and greater agility. (marquis) with a custom private 5g network. our customers get what they want, when they want it. (jen) now we're even smarter

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welcome back to "the exchange," everybody i'm tyler mathisen with your news update. joe biden issued an executive order targeting four israeli setlers in the west bank after recent violence, including a shooting of a 17-year-old american there last month. according to a senior administration official, the order targets settlers who have committed violence and intimidated palestinian communities. in a statement from secretary of state blinken he wrote that israel must do more to stop violence against civilians in

the west bank. the oregon supreme court ruled today that ten republican state senators can't run for re-election. the lawmakers staged a six-week walkout last year to stall bills on abortion, transgender health care and gun rights. this upholds the secretary of state's decision to disqualify them under a voter approved measure that aims to end such walkouts the iconic fountain of lions in rome vandalized by protestors protesting the treatment of circuit animals. the protests came months after a lion escaped from a circus near rome, sparking panic, before it was caught and there you see the fallout. back to you. >> yep mona lisa the other day. the lion in rome today tyler mathisen, thank you. on deck, are all the layoffs lately just because it is the start of a new year, or maybe the first sign of a real

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welcome back to "the exchange." there are some growing signs of a slowdown in jobs jobless claims last week, up private payroll growth dropped last month ups just said it's laying off 12,000 people. of course, amid tens of thousands of job cuts in technology lately. all of this coming ahead of tomorrow's job numbers so let's talk about trends in jobs and hiring and bring in recruiter.com chairman evan somme. good to have you back on the program. i referenced in the tease going to break is it because of the calendar we often tend to see a lot of layoffs at the beginning of a year, companies can then adjust their books on the earlier side. do you view this more as a january specific trend that will slow down, or are we -- could we expect a growth in more layoffs the remainder of the year? >> first of all, brian, good to see you. thanks for having me on. it's a very complex job market i think the layoffs in tech,

like a company like salesforce that announces they're laying off 700 people are still hiring a thousand other people. so there's a changing of the overall staffing in the i.t. space. but health care is still care. health care is still in on top three areas recruiters are recruiting for, followed by i.t. and sales. nice to see sales is up there. there's this notion if i need to come up with really good earnings, the fastest way to do that was really to lay off staff and to reduce overall operating expenses i think we're going to see that growth in sales, really nice to see that because once i'm done making cost cutting measures, the next is to grow my revenues how do i do that butthrough sales? >> yeah. and i think you nailed it on the job market, because not only is it just matching talent with companies, which is what you guys do and do very well, but

also are you willing to work from home? are you willing to go into an office will you go into an office or will you refuse to go into an office it used to be just about pay, and i know that's a huge deal still and always will be, evan, but you get my point there are other things that employers, i'm sure, are asking people right now >> absolutely. you know, a really interesting january effect, and you nailed it on the head we saw a serious increase in people looking for new experiences. now, that number went from 8% to 16%. so it's still a relatively low number but all of a sund, it's the new year, i want a new experience, and it's okay to leave your job. i think what the pandemic really proved is that it's okay to leave a job earlier than two years, three years, four years, ten years, and so we believe that is never going to change. we believe we're tack to where it's okay to leave those jobs. here you have people going hey, i don't want to go back to the

office or i want a new experience, let me find a new job. a really interesting statistic, 41% of the recruiters of the survey, of the recruiter survey, said 75 to 100 candidates are currently employed that's a pretty sizable number so that means we're pulling people out of other companies in order to fill those roles. >> how do we read that 41% of -- i mean, i'm reading it but 41% of recruiters say 75% t 100% of candidates are currently employed so am i reading that as, there's just nobody on the job market right now? >> no, that they're on the job market but they're presently employed >> so they want to break up with their current company and start dating somebody new? >> that's right. so if the quit rates are down, the jolt number is down 20% year over year. so meaning the december quit rate of '23 was 20% lower than

the december quit rate of '22. so the only way to really get people out of their job is to actively and proactively bring them new opportunities that's when you start to use a recruiter to do that overall activity so we saw the number of people applying for roles increase. we saw a slight increase in the number of open roles so people are still concerned, the recruiters are still concerned about the overall market >> evan, we have to leave it there, because we do have breaking news. evan, welcome back any time. great stats and great stuff. thank you. all right. so here's the news shares for-profit higher education at talem have been talt halted due to news pending who we know what that pending news is? >> yeah, we do i've got it in my hands here it's a press release from the company. this is the reason why shares have been halted here in the afternoon, and this is a

response by adtalem, the for-profit education company the report came out earlier this week and they blasted adtalem, suggesting they were facing future funding crunches, future difficulties in recruiting students to their for-profit universities and educational programs, and the like that, on tuesday, took about a 20% haircut off of adatlem shares before they stabilized in the after hours trading that evening. today, they are now responding with their version of events here they are going through this capital report, point by point, and refuting each point in this five-page press release. this is the reason shares were halted and this news is now out. they say in this release -

>> so that is the tone of this press release. and they go through point by point in responding to each of the criticisms of the company. but this is not news pending in terms of there's an acquisition out there or somebody happened to the ceo, but this is news pending for a press release, which is an argument effectively as to why that short seller report was inaccurate. i can tell you also, brian, that i talked to the ceoyesterday about her reaction to all of this after the market digested her short report she told me she put on additional short sales yesterday. she was unconvinced by the company's earnings report, which the company earlied up to tuesday. it was supposed to come out tuesday, but it came out today

in response to all this. so some real drama, as adtalem is fighting back against the short seller >> ross university, a veterinary university as well, for-profit around the country fascinating story. we'll see if and when they start trading again. again, thank you coming up, is the ipo market finally about to wake up or fall back to sleep after kind of a sad debut r nena tayfoa w meod - love it! umm... first word. - tonsillitis! - nostril! uh-uh... bill! uh-huh... - hip-hop! - limping! mmhmm! medical bills! uh-huh! - pancakes! - cash! who pays you cash when you have medical bills? grrr! no idea. [tapping] gap! the gap left by health insurance? who pays cash to help close that gap? aflac! oh, aflac! get help with expenses health insurance doesn't cover at aflac.com pictionary?!

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welcome back the ipo market seems to be picking up the pace this year a bit. apparel maker amer sports debuting today, and two other names are expected to list in the coming months. but are these really the ipos that wall street wants ginger bosen digging into that

>> if you're like me and love p.o.w.s, sure, we're >> these are not like the life changing disruptive companies that wall street is anxious for. on one side, we have the ipos that wall street wants, those big, disruptive names, $40 billion, $50 billion plus valuations they're household names or silicon valley darlings that investors, you would think might be clamoring over themselves to get a piece of on the right side of your screen, you see the ipos that wall street is getting these are the candidates for this year, the likely candidates you have discord, reddit, skims, stripe these are around $10 billion valuations, solid business model perhaps. we'll have to judge once you get those. but they're not the big and exciting names part of that, there's this disconnect because the bigger, flashier, buzzier private companies can

continue to tap private markets for funding. that pushes out an ipo there's also a little bit of stigma here in silicon valley about going public and being a slave to the quarterly report. the other companies that aren't quite so buzzy that might not generate as much interest, and by the they can't tap private markets as easily, so they need to turn to ipos. i said that shein it's in a bit of a different category because this one, at least to, me is very exciting. it is a disruptor, it's been making huge waves over here in the u.s. even though it's a chinese company or singaporean, as it wants to be seen. that's up for debate. but that, one right now, even looks to be in a bit of peril. existing investors were looking to sell shares of the private market because there is already being coldwater thrown on that one. >> by the way, shein it's my timeline on x with all their ads, probably other platforms

as well. but you're in silicon valley, home of venture capital and private equity and all that stuff. you just feel like more and more money is being made, we talked about it on my show last night. more and more money is being made in the private market. in other, words the real money, the big money. negative on the companies before they go public and that's where you get the 30,000 square foot harrison asherton. >> that's always been the, case venture capital works on this idea that you're going to invest in companies and one of them may turn out to be a lottery ticket. you may have invested in the youtuber or the airbnb. they need exits, right? venture capital, private markets typically lags the public markets. they do need exits, they need more of their companies to go public. doesn't even have to do that well because they got it to them at such early stages. but there is another dynamic at play, which is new over the last 18 months or so. that is mega cap tech money. billions and billions of dollars, more than the ventral capital world, it's really seen

safer maybe tiger bank or global, investing billions of dollars into these a i darlings like openai. anthropic but also some of the smaller ones. fetching billion dollar valuations easily. they are unlikely to go public as well because money is flush for them. >> that's it. deirdre bosa, a shoe in for shein. deirdre, thank you. i tried. coming up, big oil, bleach and boots. we have the action, the story in the trade on the names not in technology set to release their numbers. stick around. ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too.

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we talked about it at the top, got a lot of tech names, apple, in meson and more reporting after the bell today. there's also numbers coming out of non tech. exxonmobil, chevron, crocks and sketchers shoes atlantic. joining us with his trade for today's learning exchange is chris chris auntie, and a icapital managements chief analyst. good to have you on. let's start with -- i almost combine the two names. maybe they, should sunday though merge. sounds like a video game or something. exxonmobil and chevron. oil prices in focus, geopolitical tensions continuing to rise. what are you looking for from

exxonmobil? >> brian, i'm positive on the oils, good to be with you again. for these, guys capex is down. they have a lot of levers to pull to return capital to shareholders. and of course, the problems in the middle east have put a floor under oil pricing really for the foreseeable future. i'm not sure what the number is going to be but i feel comfortable owning these things in front of the numbers. >> yeah, chevron underperformed and maybe turning it around. by the, way you've got chevron on cnbc, i believe it is tomorrow. let's talk about clorox, clorox is all the rage during covid, weijia and everything. what is your view now on clorox? just going back to the slow growth dividend company? >> it's a classic value name. absolutely killed with a devaluation of the peso and argentina. all eyes are going to be on that argentine problem, right. expectations are quite low there, i think the company is poised for a long term recovery. not just in argentina but really in many locations.

i would be an investor, there i like the setup. if i'm wrong and argentina is still a problem, probably think would be attractive on -- >> very quickly, 30 seconds, sketchers. >> great company, stock has done quite well since we, october up around 35%. i wouldn't get in front of their earnings because i think there's probably a little more risk than reward in the short term. but again, if there is weakness, here i would like to be an owner long term. >> chris -- m.a. icapital management. we did a lot there in a short amount of, time i love it. thank you very much, really appreciate that. folks, that does it for us here and me on the exchange. but of, course tune in, tonight seven pm eastern, four pm pacific for last call. that's tonight. but power lunch starts on the othesi othr def is quick break. we'll see you there. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals. and look forward to a more confident future.

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welcome to power lunch, everybody. alongside courtney reagan, i'm tyler mathisen. record breaking, raleigh there is always something for the banks to worry about. we will stop losing in the past few, days could be in for a replay of that crisis from a year or so ago? and mega cap tech earnings. meta, apple, amazon all reporting today. it's a big day, can they meet lofty pe