week as the company navigates pain criminal fraud charges connected to two fatal 737 crashes, the new ceo of a multi-decision on what a plain design will replace the max jet. we will follow it all "mornings with maria" sick enter weekdays on fox business. i hope you will join me i will see on the fox news channel on "sunday morning futures" is like 10:00 a.m. eastern on the fox news channel i have vice presidential nominee jd vance it is for sunday morning interview trump media ceo department of defense chief of staff kash patel an affair entered america first president stephen miller join me live on fox news, that will do it for fox business, thank you so much for joining me. i hope you have a great rest of your weekend and i'll see you again next time. ♪

>> "barron's roundtable" sponsored by global x etf. >> welcome to "barron's roundtable" where he gets behind the headlines and prepare you for the week ahead. i am jack ought her, making close help your stock and what are kids buying for back-to-school season, advisory group dana tell see on the big winners and losers and insights on the health of the consumer. later big changes coming for merck's top-selling medication and how weight loss drugs might help protect against alzheimer's we will look at how it's impacting investors in biotech and healthcare sectors. we begin with the expert panel three things investors will take about right now. on the "barron's roundtable" then levinson, elizabeth o'brien and al root. it was a horrible week for stock investors, the nasdaq is an correction territory, what caused all the selling. >> it was a horrible week but it was a horrible two days. it seemed like a week horrible

thursday and friday and it wasn't even just the nasdaq it was the russell 2000 we were talking about the rotation into small caps got crushed as well the s&p and the dow finished down a lot, there are two problems the market has been resting on two pillars the a.i. tech trade everybody wants to own the big stocks and they carry the market with the but everyone has been talking about rotating into smaller stocks about the economy getting a soft landing and that was going to be helpful to and also you pull out the pillars in the market goes down. jack: to your point about not being completely point, they are wonderful statistic that nvidia had a terrific rally of more market value than any stock in the u.s. market and is having a pretty bad week. the fed raised rates to fight inflation with the only tool that has which tamps down the jobs market, did it go too far. >> that's the worry we got the

jobs report that was really not good. it missed the number of jobs added by a lot, that employment rose to 4.2% in that has people concerned because were also seeking weakness and other indicators like a manufacturing survey that came out on thursday the started the selloff of its own. the concern the fed has not gone soon enough and it left rates too high to the point where we are to have a 60% chance with a half-point cut at the meeting in september and in a few weeks we debated whether a september cut at all. jack: this week in the half-point cut is why there's 40 and 60 -- 40 portfolio and of strong rally, that is good for retirement accounts, where do we go from here. >> the best thing about that, depending on the point where bonds were helping the stock market to go down they would fall at the same time, that was problematic if you looking for something to helping with your stocks were doing well, now bonds are doing well again over

5% this week, we really did provide balance and you know what else did welcome the dividend stocks they were flat on the week which is not bad considering how much the market was down. charlie: let's look at the tech names i have a rough week, for the mag seven reported in investors continue to be concerned that all the spending in a.i. might not get the payoff that they thought they would a few months ago. >> is in a.i. arms race and meta alone plans to spend 40 billion on capital expenditures this year more than 20% of expected revenue, also but fell when wall street was apprised of the magnitude of the a.i. spending, artificial intelligence hasn't lived up to the hype and contributed too much turning so far but the promise is too big to ignore and even microsoft disappointing revenue there were signs of the overall cloud revenue was disappointing but a.i. was a bright spot within

that. some say apple is a goldilocks of a.i. spending is not spending too much or too little or just enough. it's third-quarter spending was two-point to billion. charlie: they had a decent week of stock market and incredible statistic, 3.2 7 billion active daily users, 40% of people on earth. jack: real quick until not a good week or decade. >> a very bad day for intel, the worst since 1985 as it slashed jobs and cut dividends. intel used to be the leader in chips but no longer hasn't been for a while there is hope that the manufacturing process will turn things around to make it competitive but don't expect to see results until the second half of 2025. we need to remember with intel, the government has invested interest in doing well and a domestic chip producer, i don't think it's going to go away anytime soon. jack: that's a good point, a lot

of headwinds, few big companies have more headwinds than boeing. a new ceo will take the reins on august the eighth, what is on his to do list. chai tried tomemorize this prodt making enough cleans, quality we had a 737 max blow and regulatory issues related to the max but they're trying to get new products approved and they have capital problems and their debt has exploded since the pandemic in the goodie need to do to new planes the supply chain has been a headache for everyone in commercial aerospace into pandemic and there's mna they need to have a supplier 20 years ago. what are the management rules you cannot do everything the rule of three the three top priorities any focus like a laser you just named 18, what are the top three. >> kelly or berg former ceo of rockville collins universally praised choice but to answer your question directly production supply chain

equality, that is getting planes to customers in getting your customers happy and it will probably have benefits for the culture to see things in the other one in their you have to articulate a plan for balaji and repair too much debt, balance sheet repair and production quality. >> 58 billion in debt, we will give them a little time. that's the thing i don't think you can expect to see improvement like that this is a 2026 improvement story. after top retail analyst dana toussie recommended shares of abercrombie and fitch that crush the mag seven including nvidia over the past year what this toussie gabbard like now, she will tell us next. (vo) it's almost time! verizon small business days are coming. august 5th to the 11th.

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jack: spending the real wages hold strong but american shoppers are focusing on their funding thing for their buck bargain-hunting as prices remain high how are retailers balancing the challenge of working investors find opportunities here to react date until they, great to see you again, thank you for coming on. >> thank you for having me great to see you too. i want to start with the olympics ralph lauren won't let us forget it, is this benefiting sales or helping the stock. >> it does it builds the awareness you seen them have collaboration with other sporting events, certainly with the global platform in the olympics opening and closing ceremonies. it is a driver of awareness, driver of consumer traction in the driver of conversion in the apparel. i think it's a benefit watch the u.s. open tennis match that i will be there also.

jack: you like the stock. >> i do a you are is increasing that their average retail price they have been focus on enhancing the distribution of department stores. uncovering the non-core categories that can grow whether it's women's or outerwear or home and they have been managing their inventory and a solid balance sheet. jack: another what is lbm age there spending more promotion than ralph lauren's we saw in the opening ceremonies at the largest luxury company in the world. it's a largest luxury company in the world, it's not a good time for luxury because it is moderation it also creates opportunity and like you said it's a largest player out there with 75 brands in the strength of louis vuitton and christian viewer, take this opportunity for lbm agent this is one of them they are company built for decades not just for days. jack: back-to-school season and one big beneficiary is likely to be abercrombie and finch, this

is a call of yours and a good one over the past year of 240%, that's more than nvidia, do you still like the stock, what are they doing so well. >> what abercrombie is doing so well they use the data on their customer and transform the core abercrombie van now it caters to 25 - 40 -year-olds and selling outfits not just items, keep in mind they did on the operational side, they enhanced the store base by getting rid of some of the flagships that were in his productive and smaller boxes that are technically more efficient than driving profits, watch this year for the hollister division with the apparel assortment is more in tune and that's the next leg up growth with international. jack: my 10-year-old daughter loves her hollister. my wife likes birkenstocks, the company older than abercrombie is 2050 years old but the stock only went public last year, you are a fan?

>> ims the end, what you see a birkenstock, momentum and full price sales and the opportunity to expand distribution and what you know close toed shoes are nearly 25% of sales a higher average selling price and gives all of the birkenstock owners more reason to buy another pair and don't forget what they're doing in terms of audience that they are seeking whether hospitality or healthcare or restaurants. they are expanding the purview of who their core customer can be. it's certainly a brand while it's 250 years old watch the next decade there is a lot of young were there expanding the audience. jack: you are really good trend watcher, you spot these things, one thing you been talking about his cowboy boots and skirts that is a nashville thing there on the streets of new york city. does that have legs, what does that mean for retailers? >> that does have legs that i see on the streets of new york,

who would've thought 90-degree weather women would be wearing shorts and skirts cowboy boots. it will is also driven by looser fit, wider leg denim jeans i have multiple tops and bottoms separates that is calling for new shoes boots were strong in july and that's a good read for the momentum that can carry into the fall. jack: we have 30 seconds left, and interesting little cork of the calendar later this fall will cause a problem for holiday shopping. >> five fewer days for thanksgiving christmas you better do your purchasing early back-to-school will be measured given the volatility that we are seeing out there lower income consumer spending, higher income consumer spending on experiences, you really need innovation the newness to drive demand. holiday season ever seen a measured approach in back-to-school you have to be a little cautious also for hol holiday, luckily inventory levels need to be clean and are

doing them. jack: thank you for explaining this all to me, i appreciate it. >> have a good weekend. jack: a high-stakes race to discover the next blockbuster drug as it expiration looms what it means for merck in the pharmaceutical industry next. ♪ everybody wants super straight, super white teeth. they want that hollywood white smile. new sensodyne clinical white provides 2 shades whiter teeth and 24/7 sensitivity protection. i think it's a great product. it's going to help a lot of patients.

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living past the year, with this drug there is average that the lifespan or survival rate went out to two to half years and 40% of people live seven years or more, it really changed outcomes for people who got cancer and became the top-selling drug in the world and that is really all you need to know about this in the big issue it does have a successful drug and everybody in 2028 will buy similars and start making their own version of it. jack: the patent cliff as it's called what strategy does merck have two make money after the cliff. >> the big thing about drug stocks, there is always, this is an issue that they all have. the big problem is when you don't have something to replace it, look at gilead the hepatitis c drug that cured hepatitis c. it was amazing the stock went straight up other people launch their own versions immediately

and the stock fell because there was too much pricing pressure and too much competition. you see it with pfizer in moderna were the vaccines for covid did so well but then it went away and there was nothing to replace the revenue. the only 40% of the sales come from key trudeau and it does have a pipeline i'm going out to look at my notes and has a drug that is just being started to sell now for heart disease, that is doing well in hpv vaccine that is doing pretty well and as other things, they think that they can get about 35 billion from the pipeline and key trudeau is not going away the coming up with the version instead of taking intravenously you would be getting to adjusted shot that would prolong the sales for the drug as well. i think there is a lot to like about merck. it is not just the one drug p pony. jack: even more exciting of the blockbuster k then key trudeau e

the glp-1 drugs for weight loss and now were discovering they could actually help with a lot of other diseases as well, what is the latest research showings. >> novo nordisk in eli lilly had the blockbuster drugs in a recent study out of uk suggested an older glp-1 drug novo could slow the progression of alzheimer's disease. his noxious weight loss, there's more research out of the uk, we showed that the shingles vaccine may delay the onset of dementia as well, do the relatively small studies in incremental results but alzheimer's is a devastating disease and people are paying attention and looking for help. meanwhile the adjacent sector of biotech as had a really bad few years, what is going on you see signs of hope? >> it's been terrible if you look at xpi or biotech ets over

the last five years up about 15% and 65 percentage points it's been a terrible sector, it's more of a rate trade biotech's are speculative stocks in as a drug works there is a lot of smaller capitalization into thirds of the biotech stocks lose money and below 5 billion at the speculative sector, when rates go down it is cheaper to speculate. jack: you recommend the index rather than trying to pick winners and losers. >> you can even, aaron judge hits a homerun 8% of the appearances incredible it is so hard even if you're aaron judge to hit the baseball even if your doctor to pick biotech, that's why like ets. the bigger drug industry they ran a screen and found a big cap winners. merck is unloved by investors and we said if you want growth

and you want some confidence like wall street likes these, what should you buy, merck screen very well 80% recommended it is growing its earnings and only trade of 12 times then you have regeneron, protects and eli lilly, those are growing other work expensive 22 by 40 times and last pharmaceutical which is the secret pharmaceutical is 90% of the analyst like it which is drugs for your pet. they like it because it's for your pet. a pair of investment ideas prep your portfolio for lower rates. rates. stay righte we'diff there. also in financial and estate planning and more. (other money manager) your clients rely on you for all that? (fisher investments) yes. and as a fiduciary, we always put their interests first. (other money manager) but you still sell commission -based products, right? (fisher investments) no. we have a simple management fee structured so we do better when our clients do better. (other money manager) huh, we're more different than i thought!

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rates coming down which gives investors an opportunity to move ahead of that, what are your suggestions. >> the september rate cut is in the cards what does that mean for you it's not as good news for sabers because the yields that we use on the high-yield savings account money market funds are going to come down and it's not too late and cds and retiree for income you can get close to 5% in a common strategy staggering so you will buy cds and maturities one, two, three, four, five when it expires or matures, that's a good strategy to consider for retirees. >> should you put as much money possible into the longest dated ones on the theory that when you try to go in a year or two you will get lower rates. >> that's a good question if you don't need the money, you have to remember the cds early withdrawal penalties. if you need the money there is a chance you will need it, no.

jack: what else do we like. >> in terms of bonds a big bond rally this week in yields are coming down a lot of the move has happened although some strategist like the intermediate part of the guild between two and ten years on bonds and in terms of stocks, dividends tend to outperform non- dividend pairs in the beginning of an indians easing cycle. good advice, that's good idea from you, what you have. >> mexican grill we surveyed and we all like burritos and tacos it's down 50% over the past month and this is a high-quality company by the dip and if you need a reason to buy the dip, brexit is coming. jack: got into guacamole? >> it's a chip stock. >> i'm speaking of biotech we talked about before i'm talking about amgen which is earnings next week the stock held up really well it was down less than 1% this week it is supposed

to have good numbers as a 3% dividend yield looks pretty good. all about parma and recession resistant. check out this week's edition of barron's.com. before we go we have to acknowledge how relieved and overjoyed we are to have a colleague evan gershkovich back on u.s. soil he was released after 491 days as part of a prisoner swap this week in a display of true fearlessness he left requesting russia for an interview with vladimir putin, that is all for us we will see you next week on "barron's roundtable".