a lot of earnings they week. 42 s&p companies, netflix on tuesday, a big one to watch. that will be very interesting. stay with us the next hour comes right up >> thanks for watching "power lunch." "closing bell" starts right now. welcome to "closing bell." i'm on the floor of the new york stock exchange shares of boeing are lower, retesting some of those lows on the news of a new but different software program with the 737 max. we're going to talk about that coming up. the rest of the that is correct, though, all-time highs where else would it be we have 59 minutes left of trade. welcome to "closing bell." let's have a look at what's driving the action home building has surgeoned.

a strong china growth, and watching the three major indices billionaire head managers say they're still buys equities, joining us for the first full hour of the show slight gains, but anything is good enough. let's focus in on the big stories. seema is watching the market record highs steve liesman is diving into gdp. >> combing through the numbers, a number of sectors are climbing to new highs the ren sawn etf and russell welcome back, every year the 2000 is less than 2% away. forgotten 40 is put out. widely seen as a market breadth

some of the standouts on this list, discovery, madison square, this together comprise 13% of the s&p 500. and more good to see you, jonathan. also i want to draw your attention to shares of railroad thank you for joining us. >> thanks for having me. operator csx, a very choppy day let's kick off with discovery. why is that such a standout following mixed earnings, which name the company blamed on a >> it's clearly an out-of-favor softening industrial economy that stock is down right now industry courtney, back to you. >> seema, thanks so much they produce content signific t significantly cheaper. they have billions of subscribers worldwide. they amore advertise that cost lindsey, are we too much stretched? over all their subscribeser. >> we're getting a bit stretched, but you have to put john malone just purchased 75 that into context. that context is we have low million dollars worth of shares interest rates and inflation that's stable and low as well, personally the last time now it's a $30 too, so you can be a bit -- have a bit more of a premium in that stock. he's usually a pretty good type of environment. forward indicator. >> we talked about the streaming wars do you think these any possible they could be acquired by one of

we'll feel better if we start to these bigger names see the earnings numbers come is there value there >> i think they're definitely an back in better than expected. >> another part of the economy, acquisition candidate, especially if shares continue to languish u.s. home building surging there's a lot of media companies that would love to take a run. diana has more details. >> the big builder stocks madison square garden, it's been a serial spin-off story responded accordingly. also pretty popular in people a 13-year high, all thanks to who play those types of things there's room left there? what's the hidden value? december housing starts. they surged nearly 17% for the >> one it's a $305 stock roughly. we think it's close to $400. month. the highest level since december you're at peak pessimism in terms of the knicks couldn't get 2006 breaking out the two components, sing of-housing up 11% any worse, the rangers are doing fine, but the asset values are multifamily apartment starts there. currently right now you're were up 32%, regional starts buying the knicks and rangers at were strongest in the midwest $305 and getting madison square and the sow, weaker in the west garden, the air rights above it, and the northeast. the entertainment business and diana, thanks for that radio city music hall for free, plus the l.a. forum.

steve liesman has more >> two forces at play. hanesbrands has had trouble. the slowdown in manufacturing, partly from the trade war, but the surge in housing linked to they have terrific brands. the decline in interest rates, it's not just hanes, but both actually were affected by champion champion is growing tremendously the weather. each year. q4 now tracking 2.1%, no data that's a company that could potential spin out yet is forecast to rise 1.6% and they have also done a great economists said they raised the job of deleverages. forecast because of the blow >> champion has seen this rise because of this ' 0s nostalgia, housing start noum better, but they lowered them because of the people getting excited again weak industrial production about that name. >> i wonder if that fades out after some time, but it seems also lower utilities output that that hanes brands got sold off a was due to weather lot during the tariff fear, even though it doesn't have as high b of a 2 d. and at the bottom exposure as some others. atlanta fed 1.8% >> it got totally washington the good news is we started the out. this was a $30 stock, now it's quarter with a rapid update, so 14 and change. it's been trending the right we think it's worth $27. this is another stock that we way, but this yar looks more think, if it continuing to

languish, private equity could take a run at it, or a strategic solid. acquirer could come in. >> one of the names i know is also on your list following and, steve, i guess as well, yesterday's peacock announcement the china gdp data should have is comcast. >> comcast is unbelievably room for improvement now that we have phase one, and also came in cheap. if you look at comcast as a at 6%, so nothing seemingly will host, a charter over the last couple years, comcast has been a bring down the momentum. significant underperformer >> magically as 6, we have to peacock seems like they're doing all the right things have an asterisk when we talk about chinese data it has been weaker they have great content they it looks like maybe it will finally are able to monetize stabilize. maybe the worst has passed for it seems like they're in the both economies, but some right direction. >> jonathan, thank you for being here with us, discovery, mass i economists believe there's still some of the negatives to work son square guardants, hanes through at the first half of the year, except they see a rebound brands, comcast. from this recent agreement, they i know you have several others see it more in the back half of the year. >> steve, thanks so much for thank you. >> thank you for having me that it's not just bulls and bears still with "closing bell." we'll be back in just a moment today, but horses as well. at fidelity, online u.s. stocks and etfs are commission-free. our joe kernen received comments today from david at the tima and

druggen miller i have to say, i disagree, i don't actually like horses they scare me. >> they scare me, too. gabriela, to the point and the theme there how do you try to work out where the point is that you have to step off the horse >> the horses were very, very fast last year bad news for a starting point. when we look at the pes at 19 teems, we do believe there's minute -- they're much more in line with earnings

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more limited capitalization -- awarded the best professionally installed system by cnet. we're up, what, 2% or so this simple. easy. awesome. call, click or visit a store today. wean >> for sure, the banks started we're going to hear more the expectations is for earnings to decline just under 2%. that money is already moving up with the strength in earnings, with eps for the banks i think one area where you can see a surprise is the tech sector we're looking for a decline of welcome back 1.1% that's a consensus estimate. best buy initiates a probably, so far i think we've only had a handful of companies report, but as an anonymous letter accused the numbers have been really

good, being on both of top and bottom line. her of having a relationship with a senior vice president brian dunn resigned in 2012, >> we saw in that area, should when an investigation determined we be taking clues, looking he had a relationship with a forward at 2020, how are you dealing with fixed income? co-worker. now basically flat in after-hours trade. back to mine santoli >> yeah, we're going to ask if there's a gradual descent under where we had had the year, a lot way in the surplus of available better environment jobs this morning we goal the jolts data from the bureau of labor statistics it was lower than expected we think that yield are probably this is a longer-term history. range bound to fixed income as you see the folding into a well we think having a balance recessionary period. we did see that crest. between credit, things like high yield, as well as insurance, now, this is still a high number, a 6.8 million open things like mortgage-backed securities and treasuries, so a bit of a balance barbell there jobs right now, more than the number of people who say they're >> in terms of overcease unemployed and looking for a exposure you're saying, where, job. still there's a lot of supply

not developed? >> for a couple years, there's a and demand out there, but it strong way, this year, not so suggests that employer not so much, right? bringing those underweights that so many of our clines have, much claims -- they ar closer to a neutral makes sense. up next here on "closing bell", look at where the valuations are getting chet the fed is happy to around stretched. that dynamic to play out. . up next, we will have a preview, they now have a combined market which kicks off next week in davos switzerland. it's tough to quit smoking cold turkey. cap, coming up, we're told whether or not that's a worry point. as we head to break, here's a check on the data tracker, consumer sentiment slightly better than expected reading "clongel wl rht backl"ilbeig memory loss related to aging? so chantix can help you quit slow turkey. prevagen is the number one pharmacist-recommended

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welcome back the 2020 davos world economic forum kicking off next week. coverage will begin on tuesday but much more importantly than davos itself, it marks the return of sarah eisen. welcome back sarah, my main take away of in is that on your first day back let's get a check on some individual market movers we're going to start with to work you've decided to be as far away from us as possible alphabet, hitting $1 trial wrong what's that about. in market cap today. >> you know i couldn't miss a today trading higher by about davos. not on purpose

i called you on friday to get 1.4% j.b. hunt trading lower after you excited about next week. we have a fantastic lineup of reporting an earnings miss the company citing cost guests >> i was going to say we are increases for the miss excited. talk us through the top guests. that stock is down about 4.5%. >> well, you know at davos at lindsey, we've been paying an awful lot of attention to the world economic forum it's a things like the transports good mix of prime ministers and presidents and ceos, random they are weaker today, but there have been days where they were the outperformer celebrities that are there and all talking about the topic you guys have been talking about all >> i think that we had to see hour esg, how that's really been a more of the transports earnings come out paradigm shift in term ofo terms we also saw csx was weaker than of investment. but we are talking to ceos for expected i think we want to see how it "closing bell" on tuesday. plays out over the course of the talking to priyanka chopra jonas earnings season and not make in why she is mingling with the the judgment here and now. we've got just 46 minutes or billioners in davos and continue so left of the session the conversation about how to let's go to mike for today's tie these important initiatives on the environment in dashboard. >> here's how we will finish up particular, climate change, the number one risk, waerkdo the week this rally is testing the limits according to the world economic of a typical -- we'll have a forum latest survey, to profitability and continued couple glimpses of that. economic growth. and wilfred i know you're going

this is about one of three to be superjealous, i'm moderating a panel on brexit trillion market cap companies. and what it means for european under partial power, traditional growths. the ceo of deutsche bank will be there. i might call you ahead of time bellwether parts of the economy to help prep me. >> please do sending, and a gradual descent, although i'm jealous so i may or may not offer a couple of that's a question right now. questions up but what can we expect some of the other themes of the entire first, pushing the envelope, a rendering of the s&p 500 ae pat. gathering, the entire week to be in clearly on one level we've these are basicallythe bands got much improved global trade that are drawn around the index. relation was usmca and phase one they're basically a path that's sort of a 2.5% standard passing. >> yes. >> and moving towards completion pu on the other side this is deviation from the meeting, u.s. versus europe tensions escalating again a bit essential it means the trajectory that the market has >> absolutely. and president trump will be had, and if you get to the top setting the tone or the bottom of it, it is he is actually attending the really testing some kind of a world economic forum this year limit. what's significant here is right remember last year he wasn't here that was in the earlier part there. so he is speaking on tuesday of -- that's actually 2018, morning. so i think that will help set right? that's january 2018. the tone, german chancellor that's a point where we hit a exuberant rally. anglea merkel is there as well i also want to highlight this

time, that was in early 2017 actually zelensky of younger will be there. where we did bump up against making for interesting encounters on the sidelines. this upper bound it didn't cause much of anything, except the flattening of the market. right here, just coming into the it's tackling climate change and market today, we were basically running right into it. equality big picture topics that's something that i think a lot of folks who keep the but also a question of what happens in the next downturn tactics of the market in mind are watching thats to be out there as we this shows you how broad the continue a year of solid growth. strength has been, which is a good aspect of this rally. do they have fiscal policy it's a percentage of stocks of makers have bullets? the s&p 500. that's a live and active it also hit these extremes at discussion because at some point it's going to happen, right the exact same moments in the and a lot of the policy makers are there. recent past. once again on a longer-term and a lot of the policy coordination and ideas, they basis, it means there's a broad strength in the market, but it have to get creative, come from places like this. also means there's a bit of a >> well, sara, have a safe and stretched aspect to this rally and perhaps some froth building great trip. >> thank you. >> and look forward to the up, guise. >> the 1200-day movi -- 200-dayg coverage and hurry back and look forward to a week on monday when you're back in person. >> and you won't get away with anything average is key i'm sure the ladies have

>> i don't know if it's going to be the same 84%, but all these continued to treat you well but expect a lot of that. things are locking into the same >> but i will have four months mode of saying, hey, look, this of saved up comebacks. is usually where the market >> there you glow. takes a breather or a final >> look forward to it immensely. >> see you next week. >> see you on camera next week lunge up thank you for that, mike on camera in davos. >> thank you. >> we have time about to get to lindsey, the other alternative view is things have been quite the buzz on wall street. amazon ceo jeff bezos with brought to start the year, utilities are up strongly this girlfriend former tv anchor week, you also have real estate, lorin sanchez, the icon sporting banks, not just one set of companies only an eye catching black and white that's encouraging. >> the broadness is definitely encouraging. tuckedo jacket. one of the things, too, that we >> living up to the style icon have to remember is driving this market up. title. look at this very -- that's it's not all about trade quite a -- could you pull off central bank become accommodative across the globe that jacket. >> but i wouldn't even try is really also helping support are we agreeing. the risky asset prices. >> a nod of course to the fact >> it seems, to your point, we that it was in india. feel as if we know what the federal reserve is going to do, >> right in bollywood. and we have at least a trade >> everybody doing the compare and contrast from the initial truce, so those two potential days of holding boxes of books.

uncertainty points have been >> he evolved. >> it's a great evolution. washed away and allows you on credit to him, the company focus on the fundamentals. evolved significantly. >> absolutely. it's going to dumb back down to >> his whole life, his company the fundamentals and style have evolved i think it would be nice for the market to take a breather. well baby yoda seen cradled in the arms of i think we're probably going to lucas film founder george lucas in a tweet by john favro be earnings come in positive he had all the love of a faerp >> we'll see, i don't know if looking at at a baby it's funny but a little fake calm we've been good at lately alien can be cute. the dow is just marginally but it is. >> it is cute. it's a little bit more odd higher by about 14 points. cradled like a baby though. s&p 500 is by about 0.2%. >> yes. >> a bit strange. >> supposed to be 50 years old. a tale of two social media >> at this age the baby stocks, why ubs is upgrading mandalorian is 50 years old. snap, downgrading twitter. >> the stwarps fans love it. and a global strat cyst >> it's better than, you know, the pictures of the shark in explains why he thinking global jaws which looks like this mechanical thing assets will outperform the u.s. you couldn't mistake it for an in the next decade actual fish. >> you wouldn't look at it

lovingly if it was just a mechanical shark but anyway. >> switching focus, mike, back to wall street clearly record closes again, all three. and a nice little leg up into the close. first week of earnings went just fine, momentum continues. >> it did. next week more of a critical mass, more variety in terms of the types of companies obviously a bit of relentless rally. it's been the 3% up for the s&p year to date which i think is 12 trading days i think the consensus had about a five or 6 or 8% full-year upside you have to wonder exactly if we've been overdoing the initial push but obviously the trend remains strong it's a question of whether it gets heated. >> and on the macrotopics i guess davos will be in focus. >> yes that's in the conversation with saba she will be alert for the mood two years ago was like nothing could be better. at the top lamb last year was do youer at the bottom. >> out of time today that does

it for "closing bell." >> "fast money" begins right now. yes it does. live from the nasdaq market site over looking times square. this is "fast money. i'm brian sullivan in for melissa. your traders tim seymour jeff mills dan nathan and guy adami tonight on fast, stop us if you heard this before. the markets, another round of all-time highs but. >> stop. >> but not every stock taking part in the record rally we have names that focus on the consumer may be dying to play catch-up maybe ways to make money plus you hear exclusively from the ceo of

welcome back to "closing bell." time to get word on the street morgan stanley out with a note on restaurant stocks based on favorable risk/reward and discounting risk for pizza hut in the u.s also downgrading cheesecake fact tore, the firm sees traffic weakness yum brands is up, pinterest

overjae, citing engagement gains and an expanding international sales force. they are raising their target price do $30 from $28. ubs out with a pair of notes, downgrading twitter to neutral, but its focus on safety and security could pressure the margin also upgrading snap to buy, saying it can monetize the advertising momentum snap is up more than 4% today. you can see shares of twitter are down just fractionally about 0.2 of a percent very different companies, pin tres, twitter, snap, obviously the analyst communities were digging into the fundamentals here, looking at them in different ways do you like any of these names here >> what i think is interesting is the call on pin tres versus the call on twitter. they looked similar into the beginning of this year both

rebounding, but they're also -- both things are being called out for the same things. that's spending, but pin tres is spending on growth while twitter is spending on fixes advertising issues and security, so therefore compressing margin, not getting the sales leverage they need to create margin expansion. i think it's an interesting call here >> i've been so interested in print tr pinterest and the way they have not tied in partnerships, because it's so image driven it seems like there's such a built-in audience, but it just hasn't materialized. >> i agree i think it's a huge opportunity. it's interesting they're going after the international market they have less monetization there, but i agree, there's plenty of room for expansion you have yours last-chance trade, just 36 minutes left in the session. plus netflix will kicks on

earnings from the fang stocks next week, and find out what to expect, next. here is a check on bond and where the yields are mostly higher, against going into a long weekend the ten-year note sitting at 1.3% uhh, excuse me, is there a problem here? you're in a no parking zone. oh, i... i didn't know. you didn't see the sign? that... that wasn't there when i was here earlier. (whimper) really? you know, in italy, they let you park anywhere. have a good day, sir. with geico, the savings keep on going. just like this sequel. 15 minutes could save you 15% or more on car insurance. (glass shattering) (frustrated yell) (car horn blast) (yelp)

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welcome back energy is the only really negative sector with health care and industrials flirting with a flatline the dow has been flirting with a flatline itself the past few minutes, but remains positive. here are the three things driving the action signaling a strong recovery.

firming up worries over a slowdown in the economy, and mentioned for the three major indices david tepper and dr druckenmiller say -- justs trudeau says his government will give $19,000 to each of the citizens of canada, but he also said he still expects compensation from iran >> this is immediate assistance for a rain of needs that they might have it is not the compensation we expect will come and should come from iran in due course, but these families need help now we will be getting this money to them as quickly as we possibly can, in the coming days. jordanian protesters marched

in oman, protesting the gas deal between israel and jordan. many view israel as an erstwhile enemy. baby trend is recalling tango mini strollers, both hinges can collapse under pressure they were sold on amazon and in target stores in october and november of last year. you are up to day. wilf, back downtown to you >> we'll see you a bit later in the show over to mike for the second installment of the market dashboard. >> calling this one regaining altitude, we're talking about the 3 trial wrong medvedenko is, to me, the most interesting comparison, historically, if you go back just over 20 years, this was a $600 billion market cap

company. it's doubled it's market cap over the span of 20 years. back then, however, it traded at about 60 times edges right now it's roughly 30 times earnings, so it's essential double the market cap, four times the profitability today, and therefore two times the price earnings multiple. you can see the premium for the overall market is not what it was then 30 times earns for a super mega-cap company is arguably pretty aggressive, but it's really the ohm span of time that we can point to, says this looks sane and normal relative to that, about you this class of stocks have very form, dplent balance sheets, so that's where the trillion dollars comes from. it's nowhere near as nutty as $600 built onwas

that said, i wonder what the comparison of just simply top flying growth rates -- it's bush but back then it could have been higher, no >> i think it was around a 20% earnings grower, so clearly rapid growth, but on the other hand in the kind of tech downfurther of 2001, 2, 3, it did suffer microsoft's fundamentals did suffer and there was a lot of premium to be blitz out. it's obviously a more mature company and there's thor things like buying back stocks. it's a different company, but just in say somebody wants to say it's -- relative to the sides of the overall market, it's not out of bounds necessarily. >> mike, thank you very much lindsey, when you look at microsoft, it seems like a more sane company, but the growth is

something to marvel at do you think there's more room to run >> i think when you think about microsoft, you think about the cloud, right they're really picking up speed against aws and amazon, so i think they have fundamental reasons for the stock to coinue to grow in strength at that valuation, it doesn't look so crazy. netflix is set to release the q4 earnings after the bell next week. the company is lower, though, by more than 6% in the last six months for share price as disney and apple have reflected their stream services so with the streaming field expected to get more crowded, can netflix hold on to the top spot mark, thank you so much for being here with us today as we look ahead to netflix earnings, what are you looking for, beyond, say, the subscriber

number what's happening internationally where the -- might the opportunity be there >> i like the way you set it up. this is the first quarter in which we're going to see what happens to netflix when the empire shoos struck back, when the mouse is out of the house or whatever the analogy is. so the first quarter, can netflix in this quarter and going forward maintain sub-growth relatively consistent with what it did in the year before if it can, if it turns out the markets juan one, two, three services, it will be unabeated and the stock will continue to rise the need to show that growth, it still remains the number one metric they need to show can continue to expand margins, and the last thing, the people will want them to hear them say 2019 was the peak burn year for netflix, and it has to come down. it could come down to 2 to 3

billion. if they pull of those three things, the stock do move higher. >> are we passed the wobble mark we got a couple quarters ago in terms of sub numbers do you think that will tick up at least, even if it doesn't soar >> i think so, i hope so, but we don't node we certainly didn't expect to see the two miss numbers that was even before we had disney in the market and apple in the market. i don't think the coast is clear. our survey work, which showed an, because of price increase and because the company cut back i think those were behind the wobbles in the middle of last year maybe it really is that consumers are willing to sign up for multiple streaming servics s

the real question mac is can they have this, giving the slew of new competitors, you have to think they have less pricing power. >> on the point of new competitors, let's talk about peacock. do you think it's smart of peacock not to go directly after the precise market that netflix operates in, and go for this free streaming with advertising? >> i think that seems like a logical strategy there will be part of the market that's perfectly willing to pay. there will be part of the market that likes free. anything that's free, if it's ad-supported, we all tolerated ads for decades. i think that absolutely makes sense that they offer multiple offerings to consumers i was surprised that they priced their paid above the netflix basic plan if you're not undercutting

netflix on price, it's very hard to see a lot of people signing up for that. i think that's going to be a doughnut coming on out, but the ad-supported service that could generate a lot of subs lindsey, we talk a lot about these streaming services, when you look at the landscape of media, streaming, all these names together, does one name stand in front for you do you think that -- at the same time in the streaming wars >> i think you can have multiple success stories. as consumers, we're willing to have more than one place to consume content, but i think one that does stand out is the disney-plus app, and people who love the "star wars" franchise, it will be a no-brainer, right >> do you think the likes of netflix ever offer advertising models at lower prices >> i don't think so, wilfred i've had countless conversations with netflix management over the

last decade, even longer, about the potential of offering an ad-supported service they have never indicated an interest in doing that anythie in the future, but i think there's a couple things. one is the value prop position like hbo, there's no ads that's what people love about netflix, or one of the things, so i don't think they want to screw up the magic there the second is, there's been a pitch from some investors with -- but if not market if you can't create material subscription -- i don't think you'll see an ad-supported net conflicts service in the future. >> quickly, marcus, as well. we were discussing with mark randolph, one of the cofounders yesterday, he raced the point that perhaps it's more of a threat to youtube and google than it is to the likes of netflix. what do you think about that should alphabet by a bit worried

with this announcement >> i don't think so. i think the core value proposition for youtube is just different. i think it's -- i don't think it's lean back passive entertainment in a way these other services are i know there's a lot of high-quality content i don't think they're going to have much success doing that i think the ad-supported youtube that's become so much broader than that is a how-to service, educational tool for just about any industry you go to youtube and you'll find it. i think these are dramatically different direction. i think they're saying don't worry, google. >> thank you, mark we've got 21 minutes left before the close at the moment we stand with three record closes. up next, we have your

last-chance trade. lindsey is looking at a payments company that could see double-digit earnings growth spf the firm says we're on the cu oa rebound. that's coming up on "closing bell." ♪ ♪ ♪ ♪ don't get mad. get e*trade, dawg.

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189 minutes left on the session. the major averages set for three record closes. but s&p announced it looked relatively safe with 18 minutes left more than 100 stocks hitting all-time highs for stocks today. here's a look at some of those names. comcast, google crossed the 1 trillion market cap at the close yesterday. a couple other names there >> many of the names we talked about. well, it is now time for last chance trade we have about 18 minutes left to go to act on lindsey's advice. what is yours last chance trade for today. >> given all m & a news, imto look at paypal they're positioned to continue

to -- the blurring of lines between banks, payment centers and the social ecosystem in general. these guys own venmo, but they're only monetizing about 35% of that user base, so there's a huge opportunity they're projected to have double-digit earnings growth here but this stock hasn't performed as well as the other two, so from a valuation perspective we think there's more opportunity. granted, i will admit it did trade at a premium, but it's 30 times historical average it feels almost like it's a -- for valuation in this stock right now. you mentioned because of m & a, are you suggesting that paypal is a takeover target >> it would be the latter.

my guess would be they are the ones adoing the acquiring. >> i think it's pass nailing and how willing we've got -- to alout for this seamless transition of money. >> paypast the call today from lindsey. we have 16 minutes to the session. this is the last commercial we will take before we go into the market zone with up interrupted coverage when we return myww's been an amazing journey.

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we've got about 13 minutes left in the trading day. we're now in the closing bell market zone with commercial-free coverage mike santoli is here to break down the crucial moments, and we have lindsey bell as well. we are higher, let's -- with the 737 max, as ever, he joins us. phil >> wilf, this is a software issue that involved a specific piece of software. it's not for the entire flight control system, but there was an issue they discovered while powering up this piece of software within the plane. they discovered it during an audit of the 737 max software

that was done last week, as you look at shares of boeing, that's when the shares dipped down. the broader question is, will it push back a possible certification flight will that be pushed back most people believe it won't be pushed back any further. the idea is they still can think they can return to service >> fill, just the fact that the word "software" comes up again in the discussion brings back

the idea that -- how often is that part of the a process , some legitimately and safely without any need for software whatsoever i just raised that again as to whether this plane has a long testify term future. >> it is part of the process that the faa does look at. what you're looking at with this specific incident is they were shaking down the plane, and that's what you want to find it out. i know there's a lot of headline risks, but you have to look at this and say, this is how you're supposed to find things out. >> down 2% for boeing today. >> still sort of trading around

this level upping the target from $296, sending up the 5g cycle. that firm maintaining the neutral a -- it did raise the target to 280 from 225, though citing strengthening iphone demand, but it continues to rocket higher as the analysts make their marks. >> up like 9% in january almost. >> we've highlighted a bunch of times that -- so right now still, the aggregate still trails, and you almost can't blame them, for what six or seven years the market simply refused to pay up as much

as they were willing to pay really it is interesting how it comes down to, is 5g a real thing? that's the debate on the street. i think it weathered this po tirchltal cycle -- there's been this sings that the overall -- has been smoothed out. too have demand for the devices, at the same time the services. >> lindsey >> you have to wonder if it's priced for perfection.

they represent 20% of the tech sector earnings. >> apple up about 8% or 9% so far in the start of 2020 facebook facing a lawsuit for alleged anti-competitive behavior julia boorstin has the details four mobile app developers allege that facebook cut off access to the data in an effort to squash any competitive threat they could pose the social june. the lawsuit they filed asked the judge to order mark zuckerberg to give up control, calling facebook one of the largest unlawful mo in the hospital his ever seen in the united states facebook says it protects the consumers. claims like this are not unexpected, but they are without merit. as it undergo as antitrust review by the ftc. wilf

>> this particular story not really moving the share price, a small increment for the general wave of anticompetitive potential action they may face. >> certainly not on its own. also was not seized on by the market as an excuse to start looking on the down side which, by the way, just recently nosed above its former all-time high, which is way back in -- and now it's 220, so i do think it's it's at a bit of a tricky spot is there an overhang at all? it doesn't seem like investors worry about this

we just have about five minutes left to go we're going to dive into some of the health care stocks eric has some of those for us. >> the health care sector as a whole his 18%, new all-time highs, but it's not been as easy for every name in the group. some of the, including companies like abiomed and mylan also biogen, that's down 16% we see the sector setting new highs, but some of the these big names could have more up side potential.

whether it's time to trim some of your winners, anything attractive to you in this space? >> i was surprise d it always perks up my ears, boo you because to me that's a defensive play it seems that investors are a bit nervous. >> some of the other defensive names like utilities are. >> there is today. even this week in general, it seems -- though technology has been right there as well, it's mostly due to apple today. i don't think -- the fact that they have remained so contained, even though they're nudging up a bit probably explains that rotation bond fund inflows were mayesive the last few weeks, so you have to imagine the sane inning stip for buying bonds has them buying utility stocks as well

the dow does till lag because of boeing's effect on it, but the s&p is up 0.4% schlumberger released earnings today. >> it delivered earnings and profits that topped analyst expectations, and that initially sent the stock higher today, but it was the big nor americans warning that caught the 4th lines. the company said while the international revenue grew, the revenue in north america plunged 10%, given that, they told structu -- will restructure its. >> so more of a global emphasis than a u.s. emphasis. >> shares of schlumberger down more than a percent at this point. as we head into the close, what

is going on under the service ik at the new york stock exchange it hasn't been a dramatic story, but we're seeing a spurt heading into the close it's modestly positive things like consumer discretionary and financial, so it does show a bit of rotational action the volatility index, keep pointing to it, we're very close to it right now going into a three-day weekend. under just two minutes to left rickster >> the treasury is going to add a new guy, 20-year bonds will reappear after being gone since 1986 you can see where we're down on the day, down on the week. the pattern surging on berg data

this morning the openings was at a 20-month low. finally dollar index managed to surge to close up on the week. when you look at the nasdaq, all i can think of is surging on the close to new all-time highs, momentum times five. >> yeah, the big mo for the nasdaq this week it's the small caps that have actually outperformed. they're breaking a three-week losing streak. you're sigh highs there, in a wide variety, real estate, health tech, but the mega caps are the big dogs that mo things, with alphabet joining the arrest ocrat. alphabet another all-time high today. microsoft was actually the biggest addition and chips will be the focus next week texas instruments will be reporting next week.

seema? >> stabilization in china's economy, enough to send a number of bull marks to new highs japan, south korea, and for emerging marks, they make a point that growth has achieved growth for emerging markets there. at the close dow jones industrial average up 44 points off the highs of the day back to you. if you're just joining us, welcome to "closing bell.." >> along with mike santoli, senior markets commentator three record closes once again, s&p 500 closing right at a session high as well nasdaq similarly near a session high, and the dow because of boeing's intraday pressure on the index, not at a session high, but still? positive territory

trying and energy in the red. >> joining us to talk about the mark today is sylvia zablonsky and still with us is lindsey bell mike, going into a long weekend, i feel like we feel more bearish than the action shows today. all record closes. >> stalling out and essential taking a breather after this run, but the same kind of cocktail remains pretty much in front of the market right now. you have some reassurance this week about the prevailing consensus that retail sales look fine, consumer is good, housing can lead, and tech, you know, remains sort of well bid, just because people are binging on secular growth stories beyond that, though, i think you have to recognize that this rally has come to a point where, if it continues higher from here, you're really going to be in overshoot mode just given how

stretched it's become. >> we're going to have everyone hold on. we have a news alert on best buy. hi, eric. >> that's right. according to dow jones, the board has opened a probe into the ceo's conduct. the ceo says the board has the full cooperation and support with the review. the letter alleges that the ceo had a relationship with a former senior vice president who left the company in march of 2019, inappropriate romantic relationship best buy's board has hired outside counsel to conduct the investigation. the company set it takes the allegation of this conduct very seriously. we'll let you know if we hear more courtney, back to you. >> shares of best buy are lower after hours sylvia, we are

talking about the market stretch valuations do you feel we have gone too far, or do you feel we don't have a reason to panic where are you right now with sentiment and the market's run >> sure. we heard from two of the things about wild horses, and jumping on horses to gain momentum i think december looked pretty good, and we're starting off the year in a similar spirit this year parted out with potential work with iran both of those issues got resolved, so some of the positive things came to light. and i think a lot of the sectors have essentially done extremely well and continue to pay off for investors who are in the market. back to the best buy news and check in on what's that doing after hours.

the stock had a great run, seeing some turnaround executed that gave the stock a big recovery last year some support in the work that the ceo was doing the stock's given up a bit of those gains. >> i think as a reflex move, this is the understandable direct, because i think you had street buy-in, and people thought they had things figured out. to me it makes sense, though you don't know necessarily if the forces are entirely hinging on what happens with this investigation. >> since you're our trend guy, we get the allegations that come out for a company, it feels like a typical reaction, but we may not hold here? if you extrapolate what you've seen in the past >> i would say back away a bit

and let some smoke clear i don't know necessarily that, you know, obviously far worse than this would more likely be that there was some kind of mall feesens on the financial side of things or something that had to do with the operation of the company. we have seen these situations recently where it was an on-paper policy against, some executives have had to leave, but it didn't necessarily change the course of the company. best buy has started to excuse an impressive pivot, and being ready for the new digital age. >> they absolutely have. if you look at this company, i believe it's around 2012, when they stepped in, and best buy might not be around, they really cut out a lot of the fat of the company, turned it around, turned it around from the brinkle failure to a success story and now the ceo was a large part of defining that strategy, both, you know, as

cfo, and now eventually ceo. the street to mike's point has bought into her as a leader, believe in the direction as it's proven to be the right one so far for many investors. >> well will keep an eye on the best buy, slipping a bit as the board of best buy has a probably to the ceo of the personal contact. moving on two legendary hedge fund managers sent in notes. david tepper says he loves riding a horse that's been running and has been long the market fellow hedge fund manager stanley dru krismdruckenmiller similar sentiment. >> but they are powerful and

unpredictable, which is i think -- >> which is why they have to be respected when they're running >> unless you're a well-trained -- i guess cowboys don't hurt the cows. ignore that. anyway they can stop all of a sudden. >> they can stop and become unpredictable. i think neither david tepper nor stanley druckenmiller have gotten where they are by fighting the tape. if you've already been long, no reason to panic out even if everyone is getting nervous, so i think this is in tune with what we've been hearing from the market david tepper i mentioned earlier, is a credit guy at root that's where he started out. if you're looking at credit indicators, you don't have too many reasons to worry unless you feel like it's simply too good

to last. >> earlier you were saying we would be okay if we saw a pullback here. but we haven't been in a stretch like this for a long time. it may not necessarily be ending good news can be good news, can it not >> yes, it can i also, though, think, to your point, i think thesetwo gentlemen, they don't fight the fed either i think that was a big thesis behind getting more involved the easy money policies that we are currently living with not only domestically but around the globe are certainly helping to foul fuel the fire, but i think ultimately fundamentals will have to prevail. sylvia, some closing thoughts what was your top sector pick? >> my triple crown, i think that they're in the field in the sectors of technology, semiconductors and consumer. the consumer spending, we continue to see the new names.

all of that is poised for really good things in tech, semiconductors, and the consumer will buy it. >> thank you both for joining us >> thank you. up next, find out why morgan stanley's investigative for a rho -- let's start this again. let's find out when we're coming we'll talk about best buy's ceo who who is currently being vailed for a romantic relationship with another expect. and find out how the chief global analyst see storms on the horizon. we're back in 90 seconds to help you maintain balance and help keep you active and well-rested. because hey, tomorrow's coming up fast. nature's bounty. because you're better off healthy. this round's on me.eat. nature's bounty.

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lease the 2020 nx 300 for $359 a month for 36 months. experience amazing at your lexus dealer. the best buy's board has opened a probe into the ceo as conduct on a record or letter that there may have been some inappropriate behavior between cory barry, ceo, and a former executive at the company we'll continue to follow this story as "closing bell" wears on here. in the past ten years, the s&p has risen nearly 200% while emerging marks in china saw meager gains our next guest says the 2020s will be anything but another decade of american dominance

rasheer, thanks for joining us. >> good to be back >> let's talk about some of the predictions you have laid out, one of which is we've this huge decade of u.s. outperformance, and the decade ahead won't be the same or at least not to the same -- >> that's been the history of the last 100 years every decade there's been one theme that has dominated the investment landscape that theme has typically risen by about five to ten times in relative terms compared to other asset classes, and even in absolute terms the past decade was ought about u.s. and the dominance of tech the fangs were the new brics. that was acronym on

everyone's minds my point is as we turn the decade, this very hot investment team is likely to falter that's been thehistory lesson of the last 100 years. >> in terms of specifically those tech names, is that because there will be other relative wincers or they're stretched valuation wide or strategically they have issues. >> i think all three if you look at the top ten lists in terms of what the companies have been, what you will find is that in every decade nine out of those ten companies typically change if you look at the list, 2010, the names on that list, half the names were commodity companies microsoft was the only company which is common to what you have in the top ten lists today all these companies, we tend to forget this, many of these companies on the top ten list,

including facebook, al alphabet, they were nowhere near the top ten at the beginning of the decade that churns every single decade is my point. there's a fundamental reason for that tech has grown so much over the last decade, because it's been the least are egg lated sector some are facing deregulation, and i think the risk is rising as each month goes by. that could be another fundamental, and obsolescence. apart from microsoft, the tech companies which dominated the list, several of the ten largest companies in the world were also tech companies

today with, seven of the ten are tech companies, except six are new companies. only microsoft is a survivor among those top ten. >> ad thriver, to be sure another one of your themes is moral capitalism this seems to make sense to me, especially as we're in an election year. we also had larry fink talk about invests. do you think that will be a theme? >> i can see the momentum of this building. also flows are surging into this category we're seeing more and more pension funds, especially places like europe, demand much strict standards, and this goes back to my decade themes 1990s we a incredible growth of mutual funds 200 were about hedge funds the last decade has been -- into

private equities, so to speak. i think in the coming decade, given the sort of rise of capitalism, as i put it, i think a lot of the esg, social impact funds, those could be the hot vehicle of the decade. thank you for joining us ruchir. >> great to be back. we'll dive into the story that just broke. the ceo of best buy broadband investigated for a romantic relationship with a fellow executive. we'll talk it through. later, the forgotten 40, which you stocks could be set to outperform, and you can always watch usually on the go, on the cnbc app "closing bell" back in a couple minutes. ♪

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best buy has opened an investigation into the ceo it's not the first time best buy -- brian dunn resigned after an internal investigation

determined he had an inappropriate relationship with a former co-worker for more on this developing story, we are joined by jeff sonnenfeld so right away we did see shares of best buy take a dip lower they recovered somewhat, but still done about a percent, we talked about how corie barry has been the architect of the strategy for some time is that your take on this as well >> i think that's right. hopefully these allegations are false, and malicious rumors, gossip or some vendettas, but of course with the board taking it seriously enough to have an octave third party, as you probably now, the fantastic law firm is taking this on, so it would be a thorough, independent review you saw that, you know, the situation is a bit different

than the brian dunn. not only are the genders reversed, there was an abuse of power situation where brian dunn, age 51 was running around with a 29-year-old, a first-line employee that was an odd situation. there were questions about resources of the company in this case they were two peers who worked together 20 years side by side but still many companies from a fraternization policy for employees cascading down the line, then it should be held at the top, enforced. >> but there might not be an extreme difference the power here, but if you're the ceo, there's there's some difference. i'm now sure how senior the person was, but if you're the

structure. >> no, that would be the case, but what we understand here is similar to maybe what we saw an intel last year, which was, you know, unfortunate. it was a past relationship here they were pretty close to peers at the time. this is a senior vice president, i believe his name is carl sanford, are the allegations, and she was the cfo at the time. this is not alleged to have taken place after she was ceo, which the transfer of power, of course, was just -- of course that's really a shame, in addition for the individuals involved in the company, it's just in terms of the history of this company they had done such a great job of proving all cynics wrong, that they could take on amazon, with a 40% stock pop just in the past year, but they had plummeting sales, plummeting stock price, employees were -- and customers were so

demoralized. here was this fantastic turnaround coming in after the last scandal, and we see it bookended possibly by this scandal. >> jeff, what do you teach your students today at yale school of management as they're preparing for a career ahead in corporate management positions, when it comes to relationships in the workplace. is the teaching now absolutely none whatsoever? >> it does sound prudish, and we've been chided in the international press when jack wels welsch, of course had his dalliances, not exactly on the job, but still confusing, dealing with an editor of the "hard varied business review," things like that, to keep your personal life separate from the work life. that's a problem some would argue you can't regulate romance if you immediate people so much at airports, bars, parties, and working side by side as peers and professional service firms

or in a retailer like this, many times emotions get mislabeled as love or affection, but nonetheless you have to draw the boundaries it does the confusion the objectivity of decision-making we had this issue -- it became a major issue around 1983 at bendex favoritism had always been a problem, but when we started to have two genders working side by side in close proximity, the sexual twist added a good deal of concern and salience in e -- and views of others. do they have to comply to move ahead? >> if you were a company, i assume you have pretty clear

rules so if there are allegations, it may be easier to determine if there was conduct or not this may be more difficult for a company. thank you, jeff. we will continue to follow this story throughout the hour hand in the days to come. still to come here on the show, we'll discuss the future of esg invests, and whheetr keys already as socially responsible as they claim to be. back after this. is what teamwork is all about. you can't do everything yourself. you need someone to guide you and help you make those tough decisions, that's morgan stanley. they're industry leaders, but the most important thing is they want to do it the right way. i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley. doprevagen is the number oneild mempharmacist-recommendeding?

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welcome back hi, sue. authorities say one person has died, another injured after an avalanche the squaw valley area of lake thatto a storm dropped 25 inches of snow on thursday the supreme court will decide whether electoral college voters are required to support the presidential candidate who wins a state if not, it could upend an election there will be a decision by late june as the 2020 presidential campaigns heat up. the cdc announcing they will begin screening airline passengers from central china for a new virus making people sick it's part of an earl to prevent and detect a newly identified virus that emerged last month.

three members of the base were arrested, charged with firearms and -- they believed they were planning to attend the pro-gun rally scheduled monday in virginia. back to you guys. >> it's been a big week for esg invests, pushing the idea that companies to value more than just profit. >> larry fink, that the company would make environmental sustainable a core goal of its investment decisions. >> we believe a portfolio that focuses on sustainability and climate change will be a portfolio that outperforms so the main component of the letter is saying, this is going to be a great investment over the next ten years then microsoft announced a plan to go carbon negative by

2050 satya nadella explained. >> i think what happens is if you're creating a lot of profit, creating more problems for people, i think it will catch up for you. as shareholders you always say our shareholders are the ones giving you permission to be able to think about it, whether it is the affordable housing, or that it's the carbon, it's our shareholders who care as much about this as anyone else. and airbnb announcing it will consider all stakeholders when it comes to corporate govern usages, and employee bonuses will be related to guest safety let's bring in "time" editor at large and author of "wincer take all. thanks for joining us. >> last time i was here, i was walking with that book, and my

arm was covering the subtitle, so a lot of the traders just saw "wincers ta err err err errs --l let's dive into this story what was your take when you saw the blackrock announcement let's start with that. >> the blackrock announcement, like a lot of these are the corporate equivalent of new year's resolutions it's not bad to say you're not going to eat french fries in the coming year, but to treat that -- but to treat that as a guaranty tee you're not going to eat french fries is troubling. blackrock makes an announcement it wants to emphasize in that direction. the reality is it's one of the largest holders of fossil fuel stocks and has not until now

taken the steps to dismantle that it has a new year's resolution to change that over years, maybe decades. that is fantastic. the problem with these kind of pledges, even if they follow through, which is a really by even-if, is that that this a collective action problem, climate. it's the epitome of a collective action problem every person on the planet will have to live differently, and every government will have to operate differently. laws will have to be different everywhere there's not a single company on earth who can do this alone. what they're all fundamentally pledging is doing this voluntary on a private basis and often suggesting that we not do this through collective action, through government, through law and policy. >> larry fink talked about getting incredibly emotional as

he wrote this shareholder letter that announced this decision what do you make of his personal motivations for making such a big announcement if they haven't gone far enough in terms of the action yet >> you know, you can have a cynical read on it or a more empathetic one my guess is both are at play the cynical read is you know where the conversation is good deal we're talking about the world not being inhabitable. you have young people who don't want to work at the company where they don't feel good about it, and a lot of folks are -- i -- my read is someone like him wants to be on the right side of the biggest issue of our time. s and yet i think there's an unwillingness to brook solutions

to this that would be expensive, to think about something like a carbon tax, think about the kinds of regulations that would meaningfully crimp growth at many of the companies they invest in. i think what's interesting is i'm curiovernight from being on leading holder to a leader of the searchthe problem you are sy causing. he's marketing himself as a leader, but he's still holding the exxon stock. you talked about microsoft, another inspiring announcement they're all inspiring like my new year's resolutions so inspiring microsoft within the last year, along with other big tech companies ha signed up new oil companies, in canada, elsewhere, to help them extract faster, automate the process this is new business they are selling and signing up now, so what is the sincerity of saying

you personally as a company want to become carbon neutral, but in terms of services you sell to client, because that really doesn't count, that is helping another company make the world worse. airbnb has the stakeholder thing, voluntary virtue, airbnb, as is well known, fights taxation and local regulation everywhere it goes cities say fine, you want to operate in our city, here's the local tax on real estate transaction in our city. airbnb sweeps in lawsuits constantly it's been reported on by "wired" and others so why have we ceased to trust democracy as a way to solve shared problems. >> before we start to distrust them at least they're making these pledges, now we can hold them to account. i don't think larry fink and blackrock can change anything,

we need to work together now three companies are -- why are you so distrustful that they can cause other people can make changes. >> ball oligarchy. this was not day one of this conversation these folks, this class of people, larry fink and hits friends have run america to the increasing detriment to most americans for 40 years but in terms of the lies of working people, in terms of pushing for tax cuts and regulations that benefit private companies at the expense of most people, these folks have a track record over 40 years of running america more for money than americans. most americans get that. frankly the fact that most americans -- >> i think you can make a clear argument of a bit of duplicity to a social and environment campaign while still holding

fossil fuel stocks, but to broaden that out and saying they're not running america in a right way i think is a bigger leap capitalism has stopped working as well as in the past -- >> you think it's working for most americaisn't that a huge p? >> but it's a much bigger leap to label larry fink. you said larry fink. >> i'm talking about the managerial super-elite class he's the world et cetera largest asset manager. i'm aware -- i wrote a whole book of a class of people who run america. the data is very clear bloomberg news, says 500 of the richest people in the world increased their networki 1.2 trillion, net worth increase on, i guarantee most americans didn't experience that 25% return on their wealth last

year so when you say -- your question is the absolute right question at least they're doing something. i wrote the whole book of at least they're doing something point. on the surface, i get it, this is -- at least they're doing something, philanthropy, at least they're doing something, corporate associate responsibility, there's all these at least they're doing something activities around. they seem nice you agree they're not solving everything, but here's the problem with the at least they're doing something. uphold, it justifies, it buys a bit of public mercy, and allows us to keep preserving a system that, on the whole, is causing much more planetary and human devastation than any of those activities could ever hope to remedy. >> will, thank you for this discussion we know we're going to have you back there's a lot more to talk about and there's a lot bigger problems we need to continue to

solve. up next, the forgotten 40. into the top three stocks that could outperform this year i can. the two words whispered at the start of every race. every new job. and attempt to parallel park. (electrical current buzzing) each new draft of every novel. (typing clicks) the finishing touch on every masterpiece. (newborn cries) it is humanity's official two-word war cry. words that move us all forward. the same two words that capital group believes have the power to improve lives. and that, for over 85 years, have inspired us to help people achieve their financial goals. talk to your advisor or consultant for investment risks and information.

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