study finding the tournament cost employers more than $17 billion in lost productivity, the decreasing output coming from employees taking the time from the workday to watch games and fill out last-minute brackets and while you wait for your games to start tune into "mornings with maria" 6:00 a.m. eastern join us every weekday. i'll see you at 10:00 a.m. on sunday morning on the fox news channel join me for "sunday morning futures" live have exclusive interviews with james comer, department of defense chief of staff kash patel, anna paulina lul luna and ken paxton. i will do it for us. thank you for joining us have a great rest of the we i will see you next time, happy saint patty's day we can to all of those who are salivating. >> "barron's roundtable" sponsored by global x etf.

♪ >> welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead. i'm jack cowin for jack daughter. doc stalled this week as they await clarity when the fed will cut interest rates the magnificent seven have not been writing quite as high rbc capital market of the equity strategy in one of barron's top women in finance lori is here with her take. and there is a tiktok battle on capitol hill and i don't mean a dance off will look at the winners, losers and possible buyers if bytedance is forced to sell, that is one big rocket spacex completed a record setting launch what investors on earth need to know. we begin with our expert panel and three things investors are to be thinking about right now on the "barron's roundtable" my

colleagues ben levisohn, al root and meghan leonhardt. the market was down is midget this past week. i am outraged, will happen. >> the s&p fell for second week in a row and this is the first week it's falling for two weeks since october. clearly the world is ending. maybe not, 0.1% in some inflation readings in the first one came in the consumer price index but the market was okay it was the second when the consumer market which cause the market to freak out and gas prices are going up so you get a rotation going on where the magnificent seven are not doing so well but you see other things like materials, mining companies they are doing much better. it's a market where things are moving around. jack: which of the magnificent seven have done the most in which is the most magnificent of the remaining. >> tesla is the ugliest but apple is down for the year end

alphabet is flat and nvidia is the one writing hi meta is down okay as well. jack: th the next big if it's nt big tech materials. >> energy, oil prices are rising, concerns over the ukrainians taking out a refinery with drones that can help with oil prices and gas prices in the get go up and be good for energy stocks. jack: what are you waiting to hear from the fed next week. >> we know they're not going to cut interest rates in march and they may not do until july but people want to see what happens to the daxs they've shown three cuts by the end of the year now there is concern is good to be to cuts, no cuts, we're not sure. as long as the fed is leaning towards cutting will be okay for the markets but if it starts sounding hawkish that's going to be a problem. >> it all comes down to the do dots. the stock had a terrible week again, tell us about it.

>> the company had a difficult week, it's really just a construct of bad news the stock down 7% for the week now down 30% year to date. one of the two or three worst performers in the entire s&p 500 depending on how things finished up. there was a wheel falling off of united plane last week a 22-year-old plane the story of the turbulence on the flight with people getting pushing the people seats everything is a boeing story in the more serious and scott kirby talking down the 737 max yet looking for airbus planes, that does not sound good in the new york times story that told us how bad boeing performed in the faa audit after the door plug blew out of the plane. then an faa briefing more negative news. jack: somewhere is an investor saying al you have my interest it cannot get worse. can it get worse?

yes. we wrote a story in february basically saying boeing the constant drip of bad news is not going to stop, could i imagine a scenario where an airline cancels for max ten, yes, can i imagine a scenario the longest version not certified for flight, could i imagine a scenario where boeing says we cannot make all of these planes that we thought we're going to make and were only going to make 30 not 40 month as initially planned, i absolutely manage that the flow of bad news or news is still negative we need to wait for return, you need to be patient. >> i was talking about constant drips of bad news, your potential good news for people who might be selling a home real estate commissions could be headed lower. >> the national association of realtors today agreed to settle a series of lawsuits that we all had our eyes on the going to pay 400 and little north of 400 million to settle the suit more interesting was the

agreement that was going to shift the rules on commissions, historically the trade group essentially that the system where home sellers agreed to pay five, 6% for commissions when listing their homes this is split evenly between the sellers and the buyers. now the handcuffs the rules of the road are coming apart. what that means under the proposed settlement home listings would no longer include up front offers for the buyers agents using multiple listing services there is a lot of details and were still assessing this out. it's a bit like many of the things that were talking about these days the devil is in the details. >> what scares me this is the cable bundle going away it's going to make things cheaper act on six streaming services and am spending more money that's what i'm going to feel like is going to be a buyer of a house and i'm going to have to spend more in the sellers would have to do their thing. jack: 20 seconds left what if

anything does it mean for house prices should i sell my house and move my family into al's house. we have two dogs and one is a shutter. >> i think it depends on who you talk to potentially this could substantially lower overall home prices certainly the richmond fed have talked up the benefits. bottom line this is going to take a few years according to everyone to really rollout for consumers and buyers and selle sellers. jack: inflation data coming in hotter than expected. is it putting a debt and fed rate cut hopes, how is it affecting th

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jack: consumer and wholesale inflation exceeded expectation hasn't done much to deter consumers but what does it mean for the meeting next week and the stock market, joining me rbc capital market ahead of equity strategy lori calvo sena she's one of variance 100 influential women, that is our cover story this week. did i see correctly your target for the s&p 500 is 5150. that is about where we are now should i be concerned or are you still bullish. >> 5150 is a year-end target attempting to guess where adobe december 31 this year and we have five different models that we used to come up with a number some below and some above. jack: i'll take the one that's highest. >> the highest is a valuation model which is pointing to 5400 on the s&p, the lowest is basically a flat market and somewhere in the middle is our indicator to the 5150 target

ourselves, what that model is saying a short-term pullback in the market i been saying that since january it hasn't happened yet but if you look at investor enthusiasm, not bullish is above the long-term average, between one and two year you tend to be flat over the next month and up three hampers on a 12 month basis. i tell people i still feel constructive i'm not a big bad bear out there but it may not be a linear path. >> constructive sounds good, make signals but i'll take it. what about the fed, do investors need rate cut soon for stocks to keep working? >> there was a camp expecting march cuts i was fortunate my team was not one of them they have been telling us june cut since last summer so they dialed down the expectation for cuts in the back half of this year from five to three, they ratcheted down the expectation giving the hot inflation numbers, i haven't had as much distance to travel.

i will tell you the past 4 - 6 weeks i heard a lot of complaints of anticipation of the inflation data this week and also the idea of the march cuts that's been wrangled out people have come to terms and it's a hot academy driving the market right now. jack: you point out most of the magnificent seven have not outperformed sense january is this the start of an ongoing shift in leadership and if so what are the new leaders. >> i think it is this may be slow and it may take some time to play out but it's been darwinistic. when i hear people picking names over the last couple months it's dwindled if your revenue or earnings are holding up your off the boat. i think the hot academy, starting to see gdp coming around 2.1% for this year that's up from .6% last summer and 1.6% as of mid february when the

economy is hot over 2.6% values small-cap outperformed, large-cap and growth only outperforming the economist. jack: what do you think will be the biggest surprise over the next year give me some were out of consensus. >> probably wanted the more out of consensus are overweight on healthcare stocks. i hear from a lot of investors and i can on those because of the presidential election and they tend to underperform. the data bears that out but we don't think healthcare is a high priority for either party going forward in the valuations look reasonable, dissector were using stronger earning revision then you have the rest of the market whether large-cap or small-cap. >> i know your stock strategist on the crypto currency, i'm not going to ask you for a buy sell or hold on bitcoin but as it's running up and hitting new highs does not get you thinking anything about the state of investor exuberance with regard to stock. >> is also been unnecessarily tells us a market is overly observer it but it tells us a

comfort with risk assets is rising and a correlation between s&p and bitcoin that's what we have in our weekly and we watch it to see evidence at risk asset is alive and that's what were seeing right now. jack: thank you so much for speaking with us. tiktok block could congress be on its way to banning th (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our clients' portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different.

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jack: the fight for the fate of tiktok shifting to the senate with the ban on capitol hill big-name buyers are biden up to purchase a social media giant as congress malls whether to force the app to sell this as tiktok becomes a key topic in the presidential race deputy editor of barron's alex you will joins the panel.

i'm going to start with you and i'll get to you soon enough. rated things standing congress. >> with the legislation passed the house but were waiting on the senate and there's no timeline on when we can expect the legislation to pass. this may have political upsides, trump has flip-flopped a little bit and biden said he'll sign if he gets to the desk and that could be problematic for boaters. >> did you say tiktok flip-flop. >> that is a nice turn of phra phrase. >> i think all the talk of tiktok and social media at the last few days what matters is 352 members of congress agreed on one thing. >> that is encouraging what does it mean for the election, geopolitics more than ever this is been building for the last few years in the dose of protectionism is what's taking over in the main topic in washington and investors need to be focused on. jack: you said this should happen a long time ago.

>> facebook and other social media companies in the united states are not allowed to work in china and why should tiktok be able to be here until they're allowed to be there. >> i'm still in your question facebook, google, snap, are there investable implications from a tiktok band. >> facebook and meta have been talking about tiktok as a threat for years. if this were to happen it's a pretty big beneficiary and facebook, and instagram and the platform properties, youtube reels which is youtube video product would benefit these people -- >> i would go with a 13 euros. >> there's no mystery as who benefits as a lack of tiktok, i think that is something that will see play out if it happens but it's a big if. >> i want the minutia on mnuchin. the former treasury secretary is he really going to rally an investor to buy tiktok, give me

a probability. >> i think the odds are pretty low. the valuation for the entire parent company by dance is somewhere in the range of 200 billion. obviously estimates vary a bit. i don't understand how that works it's good have to get carved up assuming someone ends up being a buyer and how this gets packaged will certainly impact evaluation of the price and so on and so forth. >> what about other potential buyers if it's not to be mnuchin who will it be 50 billion, 200 billion a hundred billion, this is a massive deal, the only companies pulling this off are the big tech companies may be walmart mixed in there because they seem to be interested but how does that work with the other big initiative is trying to get big tech smaller. i don't see how this works. >> walmart any others? who's big enough. >> microsoft, walmart. >> of any expressed interest is

it too early to. the headline. >> at the graph to come up with three headlines oracle, walmart and microsoft into be the companies that may be interes interested. >> let's put in a call to the ftc, the biden administration has been on a competition and anticompetition, that is good to be tricky to get any of that deal. >> they didn't want microsoft to buy activision why did they let microsoft buy tiktok. >> this would be a bigger deal. >> this a be a bigger deal ladies have a billion-dollar deal. >> you said we might get ahead of ourselves on the speculation. i love speculation and getting ahead of ourselves, where we going wrong. >> i think we still haven't passed the senate, come on. we had a lot of great legislation over the years that died in the house and we have a release to coming to for ration. and a lot of interest in this

which is positive and alex pointed out we got bipartisanship, that's impressive it is certainly more so than we seated other legislation that is died in the house and until we get schumer and the other leaders in the senate saying this is getting done and putting real timeline reels around this i think this is a nice fun thing to talk about. this feels a little like were ahead. >> is a fun thing to talk about would like to announce i kicked my tiktok habit i was going pretty strong for 30 days about a year ago and i band my kids from tiktok and i figured i had to ban myself, who is still using tiktok on a regular basis. >> this is poor demographic. >> let's think about this unintended consequences. we have the content creators and small businesses and large businesses doing it to decent amount of investment and activity on this platform.

if your small business and set up a tiktok shop, this might be bad news for you. >> even large businesses else the makeup company, duolingo they've invested a lot of money on this. jack: thank you wall. meghan embed have investment he hits his mark —center stage—and is crushed by a baby grand piano. you're replacing me? customize and save with liberty bibberty. he doesn't even have a mustache. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ students... students of any age, from anywhere. students in a new kind of classroom. ♪ using our technology to power different ways of learning. ♪ harnessing ai to plant new beginnings. ♪ so when minds grow, opportunities follow.

>> big rocketship news not just talking about the emojis the readers put under their stories, tell us about it. >> a great week for me i love space and i must space fan boy they did their third test of the giant starship launch system the largest rocket ever built 400 feet high twice as powerful,

3 - 4 times that took us to the moon, they tested it and went to orbit the largest object to orbit the earth. they didn't recover any of the pieces of widely successful test. the ipo spacex, let's make it about money. , the images from the test were sent back sterling spacex wi-fi system that has 2,000,002 subscribers 900,000 outside of the u.s., multimillion dollar business he might ipo that. we're going to make it to the moon by 2025. artemis too, am i going to be able to retire in mars? >> yes some tax advice. >> everyone has a month we can breathe that we have on file. those who have an irs issued 14%

fewer refunds this year that i had last time this year. if you're interested in trying to figure out when you're going to find out this information they have a tool and a tracker and you can get where is my refund. check it out. you have a stock pick, the way that now feels about space i feel that about submit i am a cement fan boy. i'm sure you're waiting for people to put your fee into mentor you off the boat. cement a company from mexico that may cement. the ticker is cx. the benefiting from an infrastructure spending they just got upgraded to investment grade and the stock is been doing very well when you look at the competitors you're not quite the same martin martin marietta and the stock is much cheaper and trying to break at about $8.50 if it can do that there's a lot more upset ahead.

>> i like cement and rocks because everything is heavy and you have to get it from nearby, you cannot amazon aggregate, you have to get it from the local core, decent margins. >> easy business. don't mess with ben, he has ideas on cement that you don't want any part of. ben, meghan, al, great ideas. to read more check out this id on barron's.com. don't forget to follow us on x at barron's online. that's all for us, see you next week on "barron's roundtable". enjoy the saint patty's day weekend. ♪ jesus has to offer. pete: love it. two to church. ♪ maria: good sunday morning, ever