we which dr. called on the activists. we will keep you updated as we learn more but courtney was the ceo, previously worked with icahn capital, goldman sachs. interesting fund. >> folks, thank you for watching , power lunch break i will see you at 7:00. >> holding bell starts right now. welcome to closing bell. i'm here at the new york stock exchange. this make or break our begins with anything other than the mega caps. one of our experts as, now is the time to buy those stocks. we will get to that in a moment. your scorecard with 60 minutes to go. regulation looks like mixed for most of the day. it is the nasdaq mostly muted, nvidia getting back some of its massive gains today. amazon and amd under some measure as you see. md down three and half percent. we are also watching shares of new york community bank today as that stock thanks under five dollars a share.

treasury secretary jenna yellen on the hill today saying she is watching the situation around regional banks and commercial real estate closely adding that she is concerned but thinks it is manageable. those are her words. keeping an eye on yields, they are holding firm following comments from loretta mr. rate cuts later this year are likely appropriate while also throwing some kohl's water on the idea of that first one coming in march. it takes us to our talk of the tip. the state of this rally whether it matters whether it is broad enough. let's ask anastasia and also. welcome back. that is the debate. it all -- all roads lead to that. too narrow or no big deal? >> it is the new year and hold but it's the same story, we have all been calling for the broadening of the rally and whether it is a profitable tech equal cap s&p 500, none of that

is delivered. but it boils down to one simple thing which is, we don't know when the fed is going to cut rates. there is greater hopes that the fed may cut in march. that is having to be pushed back . that's what all of those catchup trades are in the holding pattern and i don't think you can blame the investors or sticking with the playbook that worked. mega cap tech works because they have revenue growth and that is accelerating. they have buybacks. they have dividends. so, why fix what is not broken? >> the answer to the question on the screen, it does bad breath in the marker -- market matter? >> i don't think it matters as long as the big tech leadership delivers. going into last week, we have seen mixed messages for parts of the complex. when microsoft came out, when amazon delivered, that clearly tells you that this leadership is not frothy or by accident. i think it is sustainable. clearly, we would like to see other parts of the market

participate. there is also a point to be made on positioning. as much as everybody is uncomfortable with the leadership and being so narrow, guess where people are putting their money. they are putting it into text. if you look at the fund flows, all the sectors have not gained except for technology. if you look at the call options being bought last week, it was tremendous volumes in big tech. that's what retail investors are chasing. as long as that where the rowd goes, i think it works pixma is that we can the foundation of the market? does it weaken the foundation of the rally in the upper floors are putting more and more weight on themselves? >> i don't think it's sustainable on the one track at some point, if those big heavy hitters carry the whole weight of the market, their valuations will get to levels that raise eyebrows and you can't .2 p/e ratios and say that is okay. i do think it is something that will change back to that point, i think it will, we clearly

push back the expectations for the march rate cut, but by the way, once we get to march, that two pc reports away, i think when it comes to march, the fed is not going to be able to sit there and say, well, we are not confident. when inflation hits 2.6%, as we expect by the end of march, i think the fed will have to change its tune. >> you make the argument that one of our guests says now is the time to buy the dip in those catchup trades? the underperformers. what is now the time? if they were going to work that would have worked and maybe you need to wait for that first rate cut before you feel confident enough to buy those stocks. >> i don't think you wait. as you know, the markets price things in in advance. normally. that's what we have been doing for the last three or four months. but i think what is likely to happen in the next couple of months is, as we wait for the march meeting, we will have whips all around. we are going to be so glued to

the pc reports and the fed speak and all of that. that's probably not going to move us all that much because data is strong and the fed is uncertain, but once we get to march, and if we are right saying the fed is not going to be able to deny progress on inflation, they are not going to be able to say we are not yet confident when every measure of inflation is on the path to 2%. i think that's what will catalyze the stocks. i don't think today is the only date you have the opportunity to buy them. over the next month and a half i would be buying and stepping in and buying those areas of weakness leading into the march state. >> does it matter if they go in march or may or june? as long as you know the likelihood appears to be that they are going to cut rates at this year? >> i don't think it matters all that much. some of the catchup trades we are talking about, i would rather them go sooner or later. for the economy, if they deliver the rate cuts in the first half of the year, i think that is productive enough. we talked about ahead of the piles of debt out there, the

reason i'm not concerned about this very moment, they will likely be refinanced at lower rates if the fed delivers the rate cuts in the first half of the year. >> that might be a big if. is are still concerns about commercial real estate. you heard the treasury secretary today herself, jenna yellen on capitol hill saying, i'm concerned about it. she used the words manageable but nobody truly knows what the fallout is going to be? >> people ushering to figure it out. because we have been talking about commercial real estate over the course of the last year and were the problems in commercial real estate are. there in the office space. 17 or 18% vacancies. it's what's going to be really hard to refinance at the same values as before. you look at multi family we are making is a four or 5%. if you look at data centers, the logistics, all of those are huge areas of growth. and then, also if i look at that debt service coverage ratios, even if they stay around these

levels, double where they were when those ones were first taken out, most of those commercial real estate properties can still cover those interest rate costs. >> you are positive on the market? >> yeah. i'm positive in the market. i think we have obviously come a long way in a short amount of time. i think we are due for a positive consolidation. but, what you do in the meantime? you hold some of those winners, but you start going into those lacquers in anticipation of march and that first rate cut. >> let's bring in greg, veritas financial group. and keep learner of truest wealth. both are here at post nine which we are so happy about. it's good to see both of you. greg, you heard everything that anastasia had to say. finishing that she is positive on the market. your response? >> there were some things she said that i do agree with and certain things i would differ with. the first i would say, it is

actually very important when those got the carpet we are looking at 12% eps growth and consensus for the year. if we look at those cuts earlier at the year, we can achieve that. if we don't have those cuts sooner in the year and they come in the fourth quarter as i expect, there is no path to 12% earnings growth across the market. we saw in the fourth quarter that consensus starting at 8%. that was decimated by the end of the quarter to 1.6% which is where we are at right now. that actually used to matter. downward revisions of that magnitude, i think they will matter again when the market returns away from the euphoria of thinking we have a new paradigm on inflation. we had that jobs report of 150,000. were back in the 300,000 numbers. wage growth come in at 60 bibs. i think away from the euphoria, we are setting new paradigms. >> i'm going to ome back at you with some debate points, but let me get to philip because we do have some developing news regarding

boeing. what we know? >> waive a statement from boeing regarding the luminary report from the ntsb regarding the alaska airlines or plug that was ripped off midflight. that luminary report conclusion , there were no bolts in that door plug and that was a contributing factor, the primary factor when the pressure hits the plane, the door plug was ripped off in midflight. now boeing made a statement saying, this is coming from dave calhoun, ceo of boeing, whatever final conclusions are reached, boeing is accountable for what happened. an event like this must not happen on an airplane that leaves our factory. we simply must do better for our customers and their passengers. we are implementing a comprehensive plan to strengthen quality and the confidence of our stakeholders. it will take significant demonstrated action and transparency at every turn. that is where we are squarely focused. two things changing as you look

at shares of boeing, which are not moving a whole lot since his report came out. new inspections for the door plugs and second to that, it gives the ntsb, this door plug had been removed as part of work being done on the fuselage prior to delivery. now there is a new protocol that boeing has put in place including signs within the fuselage saying, the door plug has been removed, here is the protocol for making sure it is put back in place. the bolts are in there and that it meets all of the standards and conformance requirements that are supposed to be met before a plane is delivered. two changes from boeing. take a look at shares of spirit. we have a statement from spirit. we will read the whole thing. the company is saying, we are focused on working with boeing and our regulators to ensure the highest safety standards. statements from boeing as well as spirit following the preliminary report from the ntsb. >> i appreciate that.

the latest regarding both of those companies. you see the stocks, both higher in today's session. get back to our conversation where you make the argument that the jobs report was too hot . show the economy is to blistering hot to keep inflation from coming down. seasonal factors were a play, employment cost index was where it should be, and the pce is on its way to 2%. you make the argument as well that you still think, you told our producer it is more probable with the a hike before a cut. that is way out on a limb. let's be honest, what leads you to believe something that even the fed chair himself has suggested is highly unlikely? >> it goes back to the data. would have had two months of over 300,000 in job growth. we have a 3.7% unemployment rate. the fed has suggested to get to 2% sustainable, the unemployment rate needs to be 4.1%.

they have said that within the last two years. they implied that in the --. the question becomes, how do we get there? if all of the employment data and jobs data is moving the other way and not towards 4.1%? i don't see yet, maybe it will emerge somewhere, i don't see how we get to that number without them putting their thumb on the scale. >> i will give you the fact, today minneapolis president was talking about conundrum in describing where the root of inflation is heading as long as the jobs number and employment number remains as strong as it is. keith, are you bullish? >> still positive. has been up 13 out of 14 weeks. that big fourth quarter after doing nothing for two years, we broke out historically. when you look forward, you are up 13 out of 14 times. the one negative outlier, when you have a recession. had a different view. if the economy remains strong, i would rather take a strong

economy with less federate cuts then a weaker economy with more rate cuts because 2001 and 2008, we had a lot of fed cuts that didn't of what a recession. so, i think the economy being healthy will help earnings and make costs go down lower. the are always revised down. that's a major turning point. that doesn't scare me for looking at forward earning estimates, they had a record high as well. i look at that overall picture saying the economy is pushing forward. forward earning estimates are at a new high. the technical backdrop is still positive. i agree with amoroso, it would not be unusual to see consolidation because sentiment is stretched. i think the underlying trends are still positive. >> anastasia, don't you think the whole idea around a strong economy, greg, has changed?

even the fed chair himself has suggested that it is not a problem that the economy is doing well. it is actually a bonus. not only in that they can -- it allows them to achieve the so-called soft landing or perhaps no lending, gives them currency to wait to cut rates. why do you continue to hang on the idea that somehow this strong economy is a great big issue? now, the focus for the fed is changed over the course of this hiking regime, don't you think? >> let me put my own words in my own mouth. it's not that i hang on this is a problem. i think that two things cannot exist together. it cannot exist together that you have an economy running this hot and you say we need 4.1% unemployment to get to under 2% sustainable inflation. if they come out and say, we

can get to a 2% sustainable inflation with 3.7%, i have no problem. i want a good economy ike everyone else. i like earnings growth like everyone else. >> your suggestion is that we need to see a huge pickup and unemployment to get inflation to come down to target. >> i didn't say huge because of what they said. 4.1%, which is the number the use. >> good i say, the fed has set a lot of things over the last year. have set a lot of things over the last three months and they continue to pivot and shift the goalposts. you are right, scott, before december it was about, we have strong labor market. that is that and we cannot cut rates for other was a big pivot point in december where the fed has become focused on the trajectory of inflation. for me, the fact that the job market is strong, the economy is strong, that's a good thing and i don't think that's going to deter the fed from cutting rates. there watching the real interest rates and the further inflation falls and the longer they stay at these current levels, the more restrictive

the real rate is going to be. they are trying to engineer this perfect soft landing, they can't really let that real right stay positive for that long. >> the market isn't exactly as narrow as some would like you to believe. more lately, it is narrowed again and the mega caps and things that have carried you of late, because their earnings were so strong. from november 1st until today, the russell 2000 is up 15 to 17% . the s&p or nasdaq is up 21, 22% over that timeframe. are we judging this fairly? >> i think the point you brought up is a small one because the calendar shifts and people forget about that big rally were small caps went up 25%. i would like to see things brought it out.

the s&p is trailing the market right by about 20% over the last year. that's the most in the last 30 years. we are at a point where we will start to see some reversion on this. we have been waiting for that but we are seeing a little bit of that today. even with small caps as well. they have much more exposure to industrials and financials relative to tech. look at tech, the magnificent send him this is seven. now i'm hearing about the magnus event -- magnificent five. we like tech. i think you have to be careful about being solely concentrated in one sector. history tells you that is a risk. >> what would your positioning look like right now given your view, greg? >> a couple of things anastasia's that are pertinent. i also had to broaden exposure when the fed went into its posture pivot on december 13. to what keith said, while that rally was broadening, and tech was underperforming, that is when we started to add and

broaden our exposure. what we think at the end of this year is that, we will have looked back and witnessed those that are attached to ai, cloud, experiencing those generational tailwinds, they will grow earnings by 20% plus. the rest of the market is going to grow earnings low single digits, if that be i believe the slowdown is in front of us but it has not occurred yet. >> you are overweight mega caps relative to everything else? >> i was a mega caps. some of the smaller semi's are tied to those. those are the things that are going to put up these relatives superior earnings growth. i think that this narrowing will get more acute before it broadens out. >> i'm confused. why have such a broadly negative view on the market and just say or suggest, you just need to be super selective in what you are investing in.

at the very top end, if you are investing in those stocks, the stock market can give you the kind of returns that would be fantastic. >> that plus the 6% at the short end i didn't have a catastrophic year last year. i think you always make my be more draconian than it is. >> no. when you say we are in a market bubble, you say we will have a hike before a cut, you suggest the earnings aren't going to live up to the hype, the economy is going to have to be crushed more to get the unemployment rate to where you think the fed still thinks --. how are you going to get unemployment rate to 4.1%? >> i think that's my question. i think that is a legitimate question. let's take all of those things you said, one by one. yes i think it is more likely we need to get it cut because i can't see any other path to getting unemployment. it has not budged.

i think we do need a hike to get there. and so, every single component of what i said is not necessarily saying catastrophe is coming. everything i'm saying is about being selective and where you should get your exposure. >> i'm trying to figure out what you need to see. there have been some bears who are capitulating and you can see it. they may not be willing to fully say it, but you can tell by some of their actions that they are. why aren't you? what has to happen in this market for you to change your view? which is been consistent. i will give you credit. >> i would like to see unaligned consensus and not two different worlds of thinking about things. we have moved off of a credible argument for a march cut. we saw the market come in as we did that. we will start to suspect >> market is up since then. >> i think we will move next off of a credible argument for six or seven cuts this year. when we move all of that and consensus comes down as it did

for the fourth quarter, as we get to a more singular view of the world, that gets back to a place where i can feel more comfortable about the broader market. >> what if it is three or four cuts? does it make a difference? >> it does. what you are talking about 400 basis point or 200 basis points. >> you know the trend has changed. >> we all know this is coming. when it comes in the magnitude in which it comes, of course that is important because at the end of the day, this has practical application. has practical location in terms of what household can spend. of course these things matter. >> anastasia? >> i think it sounds like, if the market does reprice to what the fed is saying, there's going to be a pullback and therefore a better entry point. my last point, one point of the market broadening out is artificial intelligence. it's not about nvidia but about other companies that are seeing their earnings get upgraded. they are growing at 20% plus over the next few years.

i think ai is front and center. we just got a taste of it so i'm sticking with that. >> thank you, everybody. we are getting some news out of washington, megan castella has the story. >> reporter: the treasury department has a some fresh estimates showing tax revenues could rise by $561 billion over the next decade. that's a result of the $80 billion that congress passed in 2022 to beef up the irs as part of the inflation reduction act. if the funding is extended, those revenues would increase by as much as $850 billion. these estimates are far higher. more than double the previous projections. treasury officials say that reflects the impact of modernized online system that makes it easier for taxpayers to file as well as the deterrence effect of stricter enforcement and more audits. this iris funding has been contentious on capitol hill where republicans have been pushing to parrot back. with concerns, democrats have been saying this is one way to bring in more revenue. >> thank you, megan.

let's send it over to christina for a look at the biggest names into the close. christina? >> profit is the name of the game for ge healthcare technology. it went public early last year and posted better-than-expected earnings driven by price hikes and operational process improvements. despite management warning that in q1, they would see the lowest growth possible or of the year. shares are still 11% higher. du pont up after the industrial company topped earnings and boosted its quarterly dividend and said it was buying -- launching a new buyback program of $1 billion. investors like it and that's what it went up seven and half percent. >> thank you. we are getting started. up next, the big evaluation debate. nyu professor, he's flogging the one mag seven stock he thinks is over priced. he will tell us after the break.

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xfinity1stand10gs.com for your chance to win. welcome back to magnificent seven, sing nice gains after q4 earnings. my next guest says while the names are richly price, only one is priced to the point of insanity. let's bring in the deep evaluation, aswath damodaran. repressor, welcome back. >> thank you for having me. spoke the one price to insanity, you suggest is nvidia, which is interesting because you own it along with all of the others, correct? >> i bought these spock -- stocks at the right time. today's prices, all of the stocks are overpriced. i think nvidia stands out as particularly overpriced. just to get a collective sense of what these have in common in the s&p 500. these seven stocks account for

70% of the overall market back of the index. the for 27 gross profits. the are very profitable, very valuable companies. you can get pretty close to the current prices for the other companies, nvidia i can't even get close. >> i'm surprised somewhat, if only because the valuation of nvidia has come down, as its earnings and guidance have gone up. in some respects, what was perhaps insane has actually been justified in some respects. >> in a sense, recent adjustment processes going on. the truth is, when this process started, people assumed nvidia's domination of ai, the chp part, would continue in perpetuity. i think the other chip companies are waking up. things are going to start to scale down. in spite of the come down in price, i am more worried about

nvidia then i was, because last time i heard it, it gives me some kind of perspective at 682, that's a stretch that is given the current potential cash flows. i just can't get them. maybe i'm missing some part of the picture. to me, it doesn't make sense. >> you are not alone. that is for certain. and went up to 800 yesterday from one from and today on my earlier program, josh brown who has been in nvidia longer than anyone i know sold 20% of it. i want you to listen to what he said and react on the other side. >> it just feels like there are people who are so bullish they have run out of superlatives and ways to describe nvidia's market position and their technology dominance. they are like, raising price targets. it's on a weekly basis and become breathless. i felt like the chart went vertical and people have just lost their minds. i'm as excited about

generative ai as anyone else and i'm bullish. i'm just not that bullish where i think a stock should go up 20% every month just because the alarm clock went off and the sun came up. >> what are your thoughts? >> i agree with him. i think ai has become this buzzword to justify anything they want. electively, ai is going to be a net negative for markets. a great positive for companies like nvidia, but the laziness with which people attach premiums to company because they see the word ai, and you see that with microsoft as well, as i think terrifying because at some point in time reality is going to play out and it's not going to match those expectations. >> i'm wondering when you look at these other companies within the so-called mag seven which seems to be decreased by one or two of late.

like microsoft, microsoft's 10- year historical average is low 20s, now it trades in the low 30s. what was microsoft doing over the last 10 years? is it legitimate that it is multiple now as it is in the low 30s relative to how profound this relationship with open ai and really be? >> i think of the company that is closest to creating a subscription moderate around ai which can make money. i can think of another company that's as close. heart of that increase comes from the reality that ai is going to open up new businesses. as a long-term owner of microsoft, looking at $404 per share, i'm definitely happy it has gone up but again, a lot has to go right for this price to be the right price. pricing and expectation sets you up for unpleasant surprises

down the road. >> the forward pe, 38, i hear you. what about apple? what are your thoughts? >> i think there are two companies, if you really want to buy because you missed out, i bought tesla a couple of weeks ago at 180. the other would be apple, which i think is adjusted down. it's still a cash machine but apple over the last 15 years has lived from iphone upgrade to iphone upgrade. it's based on whether there is a big upgrade during the course of the year. i think apple will bounce back a little bit it's a slow growth cash machine and people have to be realistic about what they are getting. i think at 188 it says goodbye as any of the other seven. apple and tesla would be my two buys among the seven if you want to add these stocks your portfolio.

>> the so-called deep evaluation and active trader, clearly. thank you for your time. active investor. active investor. coming up, the media giant reporting results tomorrow. we will hear from jim stewart who wrote thboe ok on disney. tell us what's at stake for the company. coming right back. what they w. you know who knows what she wants? me! with empower, we get all of our financial questions answered. so you don't have to worry. empower. what's next. [disconcerting stomach gurgle] not again. maybe i should get this looked at? [suggestive stomach gurgle] zocdoc? [talkative stomach gurgle] you're right, i bet they deal with this all the time. dr. finley really puts you at ease. let's do it! you've got more options than you know. book now.

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despite recent box office disappointments, profitability pressures and a boardroom battle with nelson phelps, let's bring in jim stewart who knows this company better than anybody. welcome back, nice to see you. >> thank you. >> what are your expectations? >> i think we are going to see a decent number, although there are wild cars, stemming from the strike and costs were suppressed and didn't get as much new content out there as we know. the holiday box office was very weak for disney. i think you will see results. i'm thinking we will see some improvement in the streaming losses and that's were investors are really going to be glued for clues to the future of the big disney streaming that. >> you feel like there is a conundrum here, and that, bob eiger, the ceo has clearly made

it a focus to spend less money. he is under pressure to do as much from whether shareholders, activists and whoever. at the same time the company is criticized for the lack of compelling new content. how is he supposed to navigate that? >> i think he is going to look at the data and the subscriber results. in the last quarter earnings, i was surprised to see that despite the lack of new content going on to disney plus because of the strikes, the numbers, the subscriber numbers held up pretty well and i think we have seen lately with netflix reducing or revealing what people are watching, and incredible amount of viewership is being sent -- spent on old material. reruns of previous series. new content may not be quite as important as a lot of people once thought it was. that said, many people believe one eiger said i'm cutting content by 30%, that was a signal to his rivals and number

one is netflix, that can we maybe put the brakes on this nuclear arms race suspending that is been going on with content? those hopes were dashed when netflix came out and said no, we are pouring the money and putting the pedal down. we are still spending $17-$20 billion a year on content. that remains to be seen. how important is the new content going to be? can it netflix now increase its dominance as it maintains or steps up the spending while others are enforced to cut back. >> what we do about the whole activist issue? i'm curious as to how you are thinking about it as well as you know this company and have known iger , presumably for many years. blackwell has the definitive proxy statement to elect three nominees. you have else. blackwell's is

against else and blackwell's suggesting the possibility of splitting the company into three entities. before we get to that suggestion, on the activist angle in general, how does this all play out? >> i think from a shareholder perspective, it's probably good. i think a lot of the reason is because of this activist involvement here. i realize management doesn't like these people coming in and criticizing them and think they know better and stirring the pot like that. but it does put pressure, and in some ways, it gives someone like iger an excuse to say, we have to move fast and we don't have the luxury of spending our wills and deciding what to do. we have activists breathing down her neck. went to get the share price up. it gives him an excuse to accelerate some things that might otherwise meet with

greater resistance. i don't think there's any harm in that shareholder perspective to have these people involved. >> you take any -- what are your thoughts about this idea of splitting disney into three separate entities? >> i haven't studied that but i can't believe that's going to get serious traction. i have looked at their proposal. there is something about spinning off the real estate. interesting thing about a lot of activist ideas, it is not like disney has never thought about these things. they had much more data than the outsiders do. they have internal strategic planning people. i'm sure they looked at the real estate situation. they have looked at splitting up the company's. iger himself has walked this back and said, have noncritical assets, or spinoff. he has walked that back because it's not as easy. with disney, the big assets,

the film studios, theme parks, they have always been pretty impressive synergies that make disney a unique company. they take intellectual property from the imagineering side, the movie side, the streaming and series side and then they spin out rides and they get movies out of the rights. i would be very cautious about ideas of breaking up the company. i don't see that as being the cause. >> thank you for your time. we will see you soon. were tracking the biggest movers into the close. christina? >> we have a set of earnings winners, spotify emphasizing user growth and palantir guiding higher free cash flow. i will tell you how they are reacting after this short break.

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less than 15 minutes from the closing bell, christina joins us once again with the key stocks she is watching. >> volunteers shares are soaring 31% right now after the stock saw strength in earnings report from the commercial market but also guiding all above estimates for its gross margins and free cash flow. the company is known for its defense and intelligence work with the u.s. government. spotify posted revenues a touch below estimates for the quarter by posting a bit on gross margins, which is a popular

posterior profitability. subscription revenue jumped 17% year-over-year with more monthly active users as well. that's why shares are up almost 3 1/2%. scott? >> thank you. coming up, counting down to crucial eain a orte.rngsndveim snap is one of the key names we will be watching. what to expect from that report, still had. closing bell comes back after this quick break.

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♪♪ whoo! ♪♪ light work! ♪♪ next victims. ♪♪ you ready for this? ♪pump up the jam pump it up♪ cnbc senior commentator mike santoli to bring in the crucial moments of this trading dame. two earnings were watching in overtime, phil lebeau with his eyes on what to expect from snap. i turned to mike centrally, getting hard to push this market down. we are learning that day by day. >> it's finding a way.

rotating one direction or the other to stay afloat within 1% of the all-time highs, i don't think we settled any big market debates for the market was at a very narrow range but it did seem to respond to this crescendo of chatter that the momentum stocks were overheating and weight too narrow. majority of stocks of. other things, the others are doing okay. so i think, at some point, this kind of choreography fails and we slip and we get a proper real pullback in both the indexes and average stock. the average stock is at a headstart you had the percentages of strand to 50-50. for the moment you say we are too narrow and too top-heavy, and the minute those stocks go back you say, i guess we have been correcting internally for a while. we will see how that goes. we are due for something more than a cursory one or 2% pullback. >> so we had you earlier with

the latest on boeing and spirit air systems. your attention turns to ford in overtime. >> yeah, i think the things people will be looking at, the q4 numbers that we know about the costs incurred because of that uaw strike. they are going to be higher, to what degree? we will be looking at the. we will bee sting hybrid production. this is not necessarily something we will hear about in the earnings release after 4:00 but maybe after the conference call later on or when we talk to the cfo as well as the ev outlook. if you take a look at shares of ford, we are showing you the last month. look at the change we have seen over the last week. i know it's not a huge move, but relative to what ford has done in the last six months, this is an indication people are saying, maybe this is beating down too far and the ice business should do well. hybrids, we know they are number three in the u.s. this is a stock that people are trying to say, maybe we take a second look at it. we will be talking with john

lawler, the cfo of ford. we will talk about the outlook for 2024 as well as edward production, ev production coming up on closing bell. we will have the numbers in 10 minutes. >> 4% into the print. we will see, phil, thank you so much. numbers here today not great for snap, hearing 10% of the workforce. >> snap stock has been on a tear. it is up over 80% since it's last earnings call. we will have to see if that confidence over the last quarter about a strong digital ad market and progress the company's direct response ad platform payoff in its fourth quarter results. analysts are projecting accelerating revenue growth at 5.8%, just ahead of last quarter's 5% revenue growth while earnings per share are expected to decline to six cents less than half a year ago earnings. the question is whether snap's announcement on monday that it is laying off 10% of its steph bodes poorly for profits or

simply indicates it is following meta-and focused on efficiency. will talk about this and more when we have an interview with evan spiegel, ceo of snap, tomorrow morning. >> i will look forward to that always. thank you. we will see you in overtime with the actual numbers from snap. i turned back to mike santoli . were adding a little bit as we speak. tao is 38,500. were about 125 two the plus. >> as the market does this see something were some stocks work on a given day. volatility has gotten just strangled. that is what is happening here. people were tensed up and you got the vicks above 14 into 15. see a lot of people scrutinizing exactly what the market expects interns of jumpiness because it seems as if there has been a ton of bets on continued stability. a lot of selling of options, a lot of people saying nothing

can seem to knock this market off course. that works for as long as it works and you don't want to fight it. it is a bull market. you should treat it as such. that being said, the market is reacting to itself. it didn't find a lot of macro to chew on today. the two day spike in yields has cooled off. that is keeping socks kind of calm. i have the antenna raised for this idea that there could be some instability waiting for us. maybe it is going into nvidia earnings or after in a couple of weeks. we have cpi in one week as well. >> you mentioned the market ripe for some kind of consolidation. we have had these little moments , december and even some respects in january, but it never got big. when you got worried, it still didn't get big. >> we haven't had a 3% pullback in over three months. that means it has had a persistent rally.

luck runs out and it changes a little bit and earnings has done its job. awarded the winners. >> everything right now positive, too. looks like we are closing at the highs. it was a seesaw day for the s&p 500 but the dow closing higher. the nasdaq hit the flightline, even as tech takes a time-out. that of the scorecard on the stock market. welcome to closing bell, overtime. >> today, materials and real estate, the big winners while tech services were the only sectors in the red and now, investors wedding for earnings from four, chipotle, snap, gilead sciences, vf corp. all those result