>> that certainly was beaten up last year. bob, thank you so much, bob pisani let's send it over to "tech "techcheck." >> good morning. i'm carl quintanilla with dear bra bosa and jon fortt 15% gains since last tuesday we're going to talk with the cfe. and a debate on coin wall street says the company will survive and even thrive and piper and jefferys says uber is a buy we have what it means. >> carl, let's kick things off with the tech rally. the nasdaq led friday's gains and is leading once again today. techs, the top sectors, high his

take a look. my question to you, dee and carl, is, are the markets focused on the wrong thing here? are investors brushing aside some fundamental things and focusing on the soft landing narrative that's formed? i can't help but notice, dee, friday macy's warned based on weak consumer demand they've been managing inventory well, but said after cyber week, demand really fell off more than expected so that stock is down about 8% right now. and then lulu warned this morning, a different story, higher inventory levels. they're selling that, too, but it looks like they're discounting that a lot they warned about margins. that stock is down, what, almost 10%, 9.5%. but those are an anomaly in this

market, but are they pointing toward things to come in. >> they're an anomaly maybe, but, yeah, i would agree with you, jon, pointing to things to come these are outside moves for commentary that isn't even that harsh. to your question, are people focusing on the soft landing yes, that's certainly been the case for 2023, but they're going to have to focus on the fundamentals very soon earnings season kicks off in a week, carl, and investors are going to be forced to be looking a tt micro, and for some of the names we've covered day in and day out, their prospects have been changing, whereas, investors bought them for the high growth in the past, that may be changing in the year ahead. that might be coming down, changing the whole multiple story. >> certainly in retail what we're going to see is some dispersion in the results. look at abercrombie. that's going to take you back to may in terms of the stock price being that high. as cramer would argue, it's all

about the multipleable now, sticking with the penalties that stuck to a high premium and those who are more affordable. kicking off and looking at some of the biggest calls, we want to pay attention to am. bernstein cutting in on apple. he sees potential downward revisions as the year goes on. in fact, he thinks all of i.t. hardware may struggle. we've used names like dell, hp, and ibm as trading stocks. joining us is george george, i'm curious to know your view on consumer demand for hardware, the inventory challenges for the components of hardware what are you thinking? >> well, i think that that's a very wise trading call on apple this morning, but i feel like any serious investors it's more of a trading call.

i do think things are going to be soft for a while to come. it's going take a while to work all this out. >> how long and what's going to be if catalyst that does turn it around >> well, the catalyst to turn it around will be more economic growth we're not going to see that any time soon, so it's going to be quite a while. we need the fed to quit and either stamp that or start cutting. it may not even occur this year. it's going to be a championshipy market and it's going to reflect a choppy economy sometimes these things take a lot of time. i would agree with that gentleman on his trading call, but i think it's bad advice for an investor. an investor has to own apple long term. >> is china's reopening a huge positive catalyst for apple in particular >> in the long term. i think it's going to be very bumpy in the short term because they did such a poor job of reversing their covid strategy they should have taken a slow

approach they scratched the needle across the record player they're going to have a hard workout period for the next several months, but for the second half of the year, china should be a real win back in the markets and the economy too. >> what's interesting is watching apple making these baby steps. i saw their india-made iphones, exports surpassing 2.5 billion in 9 1/2 months. that's twice the year's total. even this massive challenge, i wonder how you think they're going to fair on that. >> these numbers are huge. you talk about how much product they're moving around in the world. that's a big lumpy process ice no longer an 80-pound animal it's an 800-pound gorilla. i would say they were late in diversifying they're going to pay a short-term price to try to adjust that. it's going to be difficult for them. >> george, we should also note that crypto is higher in the

risk on rally. coinbase surging jefferies believes coinbase should be able to weather the winter more bullish on companies. coinbase could thrive in the long term, but for now sloshing its price target in half and removing the rating on the stock. george, i think it comes down to a question on valuation. if coinbase is going to survive or even thrive in the long term, does it still deserve that technology valuation regulation is going to make the place safer, but does it make it as compelling in business or more like traditional financial services >> i would much rather go to las vegas and place a bet on my dallas cowboys to place a bet on the super bowl than coinbase i think it's a good gamble i don't think it's anything more than that. i think the cowboys are probably

going to lose unfortunately, but i would probably put my money on that because my heart's in the right place there. >> is that an indication of what you think about crypto as a whole then >> that's correct. i'm not a fanat all. >> there's nothing in this space that would get you excite. you'd rather go to vegas. >> yeah, i would rather go to vegas. >> finally, let's turn to the last one boebl pboth piper and sanders taking it. it ups uber and downs doordash they note uber may be exposed to some of the same risks as dash, but its scale gives it more room to breathe jefferies says doordash could see gains slow on both of these, doordash so far, the argument has been demand is going to get hit in

the recession, but delivery has been surprisingly resilient. do you agree with both the up on uber and the down on dash? >> i don't really have an opinion on dash, but i am bullish. our team here at annandale capital looks at how you price it for now we're very confident in the next 12 to 24 months. >> what will make you convinced either way whether it should be priced as a technology or utility? it's got to be the growth rate that's a bit of a conjecture on the investor's part. the odds are in the investor and taking a ride than being skeptical. it's a great franchise. >> do you get that information this year given the economic slowdown, or do you need times to be more normalized before you can determine what the long-term

growth rate might be >> as an investor, we might not know that for many years have to believe the story and believe the growth rate is going to be strong in the next five years to be a player we are we believe it's a great story and a good franchise, and the business is going to get better in the next five years we're excited. >> all right george, thank you. >> thank you all all right. we've got stocks at session high this morning, getting breaking news out of the new york fed let's get to steve liesman hey, steve. >> yeah, carl. you know, they follow that as a key indicator of their concern over inflation, and it fell again, down 0.2 to 5%. that's the lowest reading for the one year ahead since july of 2021 the 5% for the 1-year shows it's

3%, unchanged from november, and then a slight uptick in the 5-year at 2.4% those are the two that the fed is most focused on expectations for prices for food, gas fell things remain high, though, for education and medical care now, expected household income grew 0.1% to 0.6%. that's a new series high but spending expectations fell sharply to 5.9% from 6.5%. that's a full percentage point it's still above average for this particular survey people still expecting to spend a lot, just not a much as they did in the prior month guys >> hey, steve, given all the reflections on pay growth and some of the survey work regarding prices pay, has that altered the view on what cpi said on thursday >> i don't think so. i don't think that wage data is changing the outlook for prices,

but the cpi data has looked to show a little more relief again this month, and i think that's going to be the key. the question is as we talked about in the 10:00 hour, will the fed budge? is the fed really listening to the data or does it have a rate of 5%? >> steve, that leads to something maybe you can help me with that i don't get in this market how can the market expect a landing soft enough that stocks are rallying off of friday's number and hard enough that the fed is going to have to cut sooner than expected >> you know, jon, it's good question and i actually share your confusion there are two different messages inside, i think, these rates the one is the hard landing and the fed will cut it and the other is less of a concern about inflation. the market sees the data and believes that essentially

inflation is on the way down and the fed ought to be responding to it. i think the market is priced for both outcomes. i think it's the same. it would be even lower, i think. >> and i guess there's this conspiracy that the fed might act too quickly and have a repeat of what happened in the '70s and '80s. what happened that would cause the fed to hold back even if the inflation is looking better, inflation data is looking better >> deirdre, every time i listen to the fed, i get a history lesson from the '70s they're really animating their policy, this idea of not repeating the mistake when there was an increase in rates, and then i guess they chickened out is the best way to put it. and inflation came back. they're insistent there are not going to be debates. one of the debates they're having, is this not the '70s

do we not have a globalized world and new technologies hey, we have a show called "techcheck." we have inflation in the ways that didn't exist in the '70s. >> from the likes of cathie wood and others well, certainly some fodder for the soft landing bulls the nasdaq highs up more than 2% thank you, steve liesman still dom this hour, jack ma steps away as chinese tech continues to rally. plus, there are more than 1,000 private companies with valuations of more than a billion dollars, also known as uni unicorns "techcheck" is just getting started.

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on nasdaq 100. a lot of chips and electric cars tesla, advanced micro, nvidia, lucid group, and autodesk. carl >> welcome back. the nasdaq led the rally on friday, poefing the best day since november

our next guest says the bump doesn't signal an all-clear to buy tech, at least not yet david, i wonder. i mean, was friday's exuberance overdone what needs to happen to make it legit? >> look, obviously the tech sector and growth companies more broadly have been under a fair amount of pressurelast year. first it started off with concerns about interest rates, but i think more recently it's more concerns about growth we know a lot of companies benefitted from the early days of the pandemic. now we're on the other side of that now there's some adjustment that needs to continue as all the spending pulled forward during the pandemic now that we're on the other side of it, it's going to take

customers some time to digest all that they splurged on. i think that is a more challenging growth environment for some of the tech and growth complex companies that are out there. >> all right that's certainly the tone that, for example, was touted a couple of weeks ago or last week that in his view could last a couple of years are you looking for that kind of a timeline where valuations and tech are in a period where they begin to look attractive again >> i think it's hard to say how long since it's going to be two years. i still think we have some with the job in terms of getting back to say some sort of reaction sell racing in earnings growth when we combine that with -- you know, valuations are somewhat locked in. they've improved quite a bit, so that's the good news, but they still look a little bit expense issue relative to other segments

of the market. the last thing here is some of the work we've done has shown that when inflation is higher than 3%, and we know inflation is coming down, but it's higher than 3%. value stocks tend to outperform. there's a rairng of factors we'll be looking at to gauge the outlook, but as we sit here right now, i still think it's premature to get back into growth and tech companies. >> i'm looking at a note december it's your six-month view info tech doesn't even make neutral, right it's one of your least preferred. >> yeah. we know some were hurrying to digitalization i think there's some digestion that has to go on. we've seen a slowdown in cloud there's more to go in the smartphone market, just a

huge pull forward of demand in '20 and '21. that's going to be challenging going forward. i would say the best way to phrase it, carl, is we still probably have some digestion phase ahead of us, and valuations they've improved, but we don't think they're at compelling levels at this point. >> it sounds like there may be some silver linings in teletelecoms for example? is the telemarket the least of the tech problems at the moment? >> yeah, look. some different segments -- we talk about tech very broadly, but we know it cuts across a few different sectors. your comments on the ad market, we know that that weakness showed up earlier, so it's possible that it also emerges from this digestion phase

earlier. obviously we have concerns about whether or not we're at a hard landing or not that would affect digital advertising. it's something we'd keep an eye on it's something that could come out. but i think we still think that areas like energy looks interesting and in general we want to play defense we think there's a risk here for the overall market in areas like consumer staples, health care, that gives you that defense and exposure where there's material downside risk if we enter into it. >> it's going to be interesting to see that sentiment if "i" consensus puts a cap on at least the rally we've gotten in the last couple of days as we're back to 3950 david, appreciate it very much.

after the break, brazil, more than 400 people arrested there as supporters of ex-president bolsonaro storm the government building. we'll have a look at the role the social media played in the election there and may have played a lead-up into the attacks. stay with us (eagle call) nope. how do we show that we'll stand tall through the storms? nah. (thunder) how do we make our clients feel secure and- ugh... not lions. (lion rumbles) we do it with our people. people who've been looking after people for over 170 years. we planned well for retirement, but i wish we had more cash. you think those two have any idea? that they can sell their life insurance policy for cash? so they're basically sitting on a goldmine? i don't think they have a clue. that's crazy!

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anniversary of the january 6th insurrection at the capitol, protesters stormed the congress building in brazil just like january 6th. social media playing a key role with organizers posting on messaging platform telegram, perhaps elsewhere as well. content in favor of the protests across tiktok, facebook, instagram. what does that mean in the ongoing battle for content moderation on social media let's bring in julia boorstin.

julia, "the washington post" reporting that elon musk fired the entire moderation team in brazil in the fall ahead of this, so there's sure to be questions about what happened on twitter leading up to this. >> it's interesting just talking to some people close to the situation, trying to figure out where most of this conversation was happening. one thing i'm hearing is that these days if something is happening online, it's happening on all the platforms it doesn't happen just on telegram or twiller er twitter facebook or whatsapp we reached out to telegram and twitter for comment, but they did not reach out. they did say in advance of the election, we designated -- as i understand, meta is working to

get ahead of this type of issue. every since the january 6th riots, they've been very concerned about this in terms of regulations, it seems so hard to figure out what's going to happen now because there is a bipartisan push to regulate these companies, but the type of regulation that democrats and republicans want is very different. >> julia, it's interesting who you hear from and didn't hear from meta feels pressure from its shareholders, from its board, from its oversight board telegram, twitter, these are private companies, and a lot of the most violent rhetoric and the direct organizing has taken place on a platform like telegram does it underline the idea it's better to be private, keep your head down? >> one thing that's so interesting is these companies used to work together to help clamp down on this type of content.

you had the likes of twitter and meta and snap. the problem is twitter has gone radio silent they're not working to bring down dangerous content from what i understand, they have not been participating this sort of joint effort we used to see to try to remove some of this dangerous content so i think the fact that twitter has lost all the people who used to work in the security measures, who used to work in brazil to address some of these potential issues, i actually think this could draw more scrutiny of twitter from your regulators if it turns out they're not being responsible and failing to comply. >> maybe lawmakers, julia. what i wonder about this incident in brazil is does it swing the narrative in these hearings and conversations in congress that are going to take place back away from the focus on free speech and toward the focus on protecting democratic institutions because if there

are congress people who are -- you're saying, why are you regulating speech so much, folks like meta and others can say, look what happened in brazil do you want that to happen again in the u.s.? >> it comes down to the question, at least in terms of regulation in the u.s., the question of whether or not open platforms should be responsible for the content that is shown on their platform we've heard of a bipartisan push to regulate 230, to change 230, or what that segment looks like. i think you and jon and deirdre have been talking about this, a lot of regulation has come out of europe. they hold them accountable i think, yes, twitter is private, but that doesn't mean it's i got to skate in terms of not being response oshl taking appropriate action that's why i think it's going to be so interesting to see what type of scrutiny or responsibility comes on elon

muskover teams that pull off violent content. >> and perhaps raises questions over what types of regulations are put in place let's get a cnbc news update bertha coombs has that update. >> here's what's happening at this hour. a georgia grand jury has finished a probe of the 2020 election they were looking into whether former president trump and his allies committed any crimes while trying to overturn his election loss. the grand jury's final report goes to prosecutors who will decide whether to bring charges. former mcdonald's ceo steve easterbrook has agreed to pay 4 $400,000 easterbrook has also agreed to a five-year ban from serving as an officer or direct over a company reporting to the s.e.c. traf backing to normal in

the suez canal a ship carrying grain from ukraine ran aground. tugboats were able to toe it out of the shipping lanes. and "avatar: the way of water" brought in over $500 million over the weekend it brings the movie's total to over $1.7 billion, making it the seventh highest grossing ever, but $600 million bigger than jackpot now for mega millions. >> which we know you like to play, bertha coombs. investors are flocking to chinese tech as the country opens for business is there too much optimism. cnbc's coverage is going to cover stephane bancel, moderna's

ceo. for more you can hecht over to cnbc.com/probe to find out the names. we're back in two.

the markets were left higher for the first week tech and consumer discretionary,

health cares are laggards. every member of the sma is higher today, and the eff is back above the two-day moving average. abercrombie & fitch on pace for the best day since november after raising their guidance that stock d is up 80% in just threemonths. >> speaking of chinese stocks, jack ma once known in china continues to be seen they continue their recent surge, but at a cost nearly half a trillion dollars in market value has been shed since its october 2020 peak. ma has given up control of its fintech subsidiary it's making company look a lot different than it once did at a $300 billion valuation you might remember that that ipo was abruptly pulled in november

2020, and that was after mahtook aim at regulators marking a crackdown on the sectors investors seeing the zpit as a revival, which could be a major windfall for alibaba it doesn't have any current plans to go public meanwhile the kweb is up 14% since the start of the year. that's not that many days. investors reading into the latest as more evidence of the broader crackdown on tech may be coming to an end i think you know how i feel about that we never actually nknow there's the reopening. importantly, there's support and stimulus for the property sector however, jon, it may come down to how consumers feel. do they trust that this clamp-down is over on tech, and do they feel confident to go out again? we know that, yes, the reopening is happening but with that comes a massive surge for covid cases that's going to make for a bumpy

reopening. >> not just that, but it's like some of these companies are probably not the same. imagine there was some crackdown on ev companies in the u.s., right, and they forced elon musk out of tesla and then they were like, okay, everybody back in the pool, everything is fine would tesla still be tesla is china's tech sector still the same when you force out influencers like jack ma >> and then when you have external pressures where they say they have the inability to invest in chips and technology that move is very fluid. >> a very important part of the story, growth at the likes of alibaba and tencent has come down a lot even if you want to come back in, they're not the same companies they looked like a few years ago. we're going to continue to ask this question. has the market gone ahead of itself with the huge rally

bre b brendan ahearn joins us now. fundamentals are driving these stocks, so do you rethink how these are made up? do you give more weight to state-backed companies over the private ones like alibaba? >> we love the names we hold within kweb, because they're the transmission engines as it occurs online for china, and the reopening of china means it's time for con surms to get back into malls and restaurants, and kbe believe the companies we hold, particularly the e-commerce companies we hold are the beneficiaries of consumer confidence coming back, consumer spending in china, as well as online travel companies, obviously trip.com you're seeing very, very significant movement, even over the weekend over hong kong and china. so we feel really well positioned, and certainly we

think a lot of concerns that have been highlighted, as to walls of china are in, we think the kweb will keep grinding higher >> there's been so much disruption of the past few years. there have been concerns over some how can we believe these are going to continue to drive value going forward when so much has been destroyed >> certainly the government needs these companies. one of the thing, deirdre, that's happening is as the global economy slows down, it's decreasing demand for the world's fangtries. so china's exports have been slowing over the last several months we expect that trend to continue we just need a tightening here in the u.s. along with other central banks. the chinese govern recognizes

that they can't create foreign demand for their goods, so they have to raise domestic consumption, which explains why we're seeing the pivot not only on the internet regulation, but also the significant pivot on zero covid. they have to raise domestic consumption. >> right well, then, let me ask you, brendan. what kind of companies will benefit from china's reopening almost everything is surging look at what happens in the u.s. the reopening caused investors to re-evaluate the high multiples the tech has seen. why would it be any different in china? >> i think this is very different from the reopening trend this is getting back to, say, the pre-2020 levels where chinese consumer confidence due to zero covid has been really weighed down i think, deirdre, as we head into the q4 earning season, which will kick off after the

chinese lunar new year in two weeks, you're going to see a lot of people looking at the forward-looking guidance you look at the travel, mobility numbers, a number of things we're providing daily. this is going to show that the consumer is coming back online, and again, we're big believers there will be a rebound in spending >> we'll see as we talked about, that reopening could be a little bumpy. we'll see how the consumer reacts brendan, thanks so much for being with us. brendan aherns of crane share. and coming up, 2023, could it open up the floodgates again with a number of multi-million dollar companies waiting in the wings? we'll take a look at who might be next to go public don't ay.gowa a giant pain! hi ladies! alex from u.s. bank!

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2022, but the pipeline for ipos keeps growing. there are approximately 1,210 with valuations at least for now above a billion dollars compared to 513 in 2020 and 950 in 2021 so which companies might be the first to take the ipo leap our next guest high llighting

names. welcome. tell me. i keep hearing that they're being advised to stock at least 24 months of capital before they'll be able to raise again, which suggests to me a lot of people think the ipo market won't open up until the back half of 2024 at the soonest. you do think that's wrong? >> i would agree with that you look at which companies would be most at risk to go public i think the second half is probably going to look a little bit better than the first half, assuming that it's mostly ma macro driven, jon. the moment we realize we're at the end of the rate hike, think

they gives them the note that this is a new era of accomplishments and then we start building up from there so, yeah, i agree. >> so what should investors make of moves like this move to take out duck creek this morning. it has that stock up more than 40% last time i looked it suggests that private equity is seeing value in some of these stocks that trade around under $10 billion, in this case, under $2 billion or $3 billion market cap and that, you know, longer term, a lot of these are going to do quite well duck creek, i think, went public just two years ago. >> yep i think many active video comp companies are still far apart from the public spheres. looking at public companies,

there's value there long term that has potential there i still feel that there is still a pretty big gap between what our companies that were valued are still valued we still need that valuation and a flip to happen for some of those companies, companies like instacart, cloudmart those are some to monitor in the first half if they go public but i think the vast majority are still thinking they can grow into the valuation they saw back in 2021. >> we sue ee duck creek up about 47%. we see this number of more than 1,200 companies with supposedly valuations above a billion

you say there are not going to be many in the next few months because the valuations are congress back. >> i agree it's anybody's guess probably the real number is 30%, 40% less than what was circulated in prior markets. if you look six months from now, 30%, 40% lower is our best guess. that could be slow moving. private companies hate to see their valuations go down and their recapitalization tends to mess up some of the things in the cap table. i feel it's going to be a slow process. it should coincide with the rate hike situation, and that should probably open up what we think could be a rebound in the second half of this year. >> all right, thank you, ro

rohit kulkarni from mkm. >> thank you. coming up next, vince mcmahon back at wwe and exploring a sale we have who might want to buy it and some names hitting all-time highs right now. tjx progressive, and cerllatpiar with the dow down 240. stay with us so cdw helped us deploy mac, supercharged by apple silicon. ♪♪ built-in security protects me from malware and forgotten passwords. i've got enough battery life to get me halfway around the globe. and lower overall costs leave more money in our budget. for more practical furniture? this was supposed to be hip. no. can you help me up? with mac, configured by cdw, a solution that works for everyone isn't just possible, it's powerful. when you stay at a vrbo you always get the whole home not part of it but the whole upstairs the whole downstairs

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vince mcmahon back at wwe and exploring a sale julia boorstin is with us with a look at potential buyers. >> after retiring last year amid sexual misconduct allegations, vince mcmahon, who is the majority owner is returning to figure out a sale of the company. saying this is the only way for wwe to fully capitalize on the opportunity around media rights negotiations and industry wide demand for quality content and live events saying, quote, my return will allow wwe as well as any transactioncounter parties to engage in these processes knowing they will have the support of the controlling shareholder. they hired j.p. morgan to advise on a potential share according to people familiar which now shifts to buyers, including

cnbc's parent company comcast. and there's also fox, and amazon which has been ramping up spending on sports content for prime video offering disney which could use the content to bolster espn and espn plus and also endeavor who has a foothold after buying ufc in 2021 or liberty media which owns formula one. now warner brothers and discovery are less likely buyer because of the debt load mkm saying comcast is the logical acquirer for wwe given its existing exposure to the business through its domestic licensing right, to one raw on usa network and two monthly premium live events on peapeaco. we reached out to comcast, our parent company, no word yet but wwe shares are up about 5% since

it was announced that mcmahon was coming back. >> we talked about the rights of f franchises in terms of the value but can we look at racing and wrestling and mixed marshall arts in the same lens? >> i think there's increased attention and what it gets to get viewers to tune in real time it's all about what's the appeal of real time viewing because that's where advertising is most valuable no doubt the nfl is valuable, also nba we'll watch the rights come up for grabs those are the next media rights coming up for grabs. as the linear tv channels try to figure out what makes their ads most valuable that's where the focus shifts to sports only a limited amount of nfl, nba type of rights to go around and a more niche and devoted

audience for ufc and wwe >> don't forget to follow and s subscribe to the podcast and tesla, lengthening wait times in cnahi, tesla is up nearly 8%. ty tech check is back in just a moment 's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take control of your investing education. cut through the noise with best-in-class education resources that match your preferred style of learning. learn your way. not theirs. td ameritrade. where smart investors get smarter℠.

- psst! susan! leawith paycom, employeess. do their own payroll. - what's paycom? a magic payroll genie? - it's a payroll app. - payroll is way too complicated for the average person. - paycom guides them through it. missing or duplicate punches, pending expenses, unapproved pto, on and on. - why would employees wanna do all that? - this could be a stretch, but i think it's 'cause they wanna get paid correctly.

i like getting paid correctly.

one more thing before we go, it's been a brutal start to the year for tech layoffs following announcements last week from salesforce and amazon glds goldman sachs set to layoff 3,000 employees. and mcdonald's cuts across the corporate staff, shifting to opening more restaurants you're cutting down on the corporate staff but when you're opening more restaurants, that means more hiring of some of the other jobs in the service industry which we know hasn't been slack yet. >> yes but that's true but in the case of mcdonald's some of the formats rely less on labor and

more on technology so interesting to see if they pivot to a model that's more about tech engineering and less about labor engineering. >> good point. in a recession, people eat more at mcdonald's so there could be preparation for that as well on the goldman thing, cnbc hue sun nailed this story three weeks ago when he said they were going to cut up to 8% of staff at goldman sachs so pretty umuch right on the nose this was planned a month ago, before we got to the back end of q4 which we saw lulu and macy's reactions to the last couple of trading days so does that mean there's more to come for this area, carl or does it mean from gold man's perspective, things weren't as bad for the retailers? >> meanwhile, a quick programming note we will speak with medtronics

ceo jeoff martha rear tomorrow carl >> very important conference as we work through that and cpi on thursday and the bank earnings beginning friday. every sector green with the exception of health care let's get to the judge in the half >> thank you very much welcome everybody to the halftime report i'm scott wapner front and center, the rally stocks trying to build on last week's gains and a big week for your money the cpi looming large we debate whether this can last and for how long we're just past 12:00 in the east take you to the wall and show you what stocks are doing, doing good, 251 for the dow, 3946 we have moved considerably away from the 3,8ho