incompetence of their own teachers. the soft bigotry of low expectations is what is racist and damaging to any children who are not doing well. gerry: we have to go, thank you leslie marshall and miranda devine. thank you for joining us all be back next week with more interviews on the "wall street journal at large". thank you for joining us, have a great weekend. >> "barron's roundtable" sponsored by invesco qqq. ♪. jack: welcome to "barron's roundtable" where we get behind the headlines and prepare you to the week ahead. i'm jack carter. retail analyst dana toussie gives us a look at the hot trend the holiday season, who is waiting the retail wars and the new workplace uniform. investing outlook for 2022, sarah malik on what omicron means to the market whether

earnings cannot run inflation and more. we began as always with what we think of the most important things investors should think about right now. the market was full of twist and turns but it was about more than omicron in the fed. it was a monster year for ipos in 2021 and more on the way but investor appetite may be waning. the new spider-man movie could be pivotal for studios and theaters. what does it mean for boss but under blockbuster movies in 2022. on the roundtable then levinson, carleton english and jack hough. kind of a lousy week in the market. i think it was down 600 points on they're down, what is pushing investors? >> it is hard to know, it's a weird market is starting off normal. a market following anticipation of the fed. the fed came out and it was a little more hawkish than expected. then the markets rallied. here's a good example of mark anticipating but we have a selloff on thursday with tech

getting it really hard. this is big tech like apple. friday tech rebound it with everything else i got hit. it's hard to know what was going on. it was something called quadruple witching on friday which means futures and singles in the futures were expiring and that cause volatility and it may have had something to do with it. jack: covid pushing the market at all? are investors worried about that? >> i wish i could say that it was but it does not seemed like it. on friday you saw airline stocks go up. which is a pretty clear way of the market saint were not worried about that right now. i think a lot of that was priced and when we first heard about omicron that it could be an issue and a lot of the stocks fell. now they say they price it the way that they need to. jack: one more indicator the ten year bond yield went down to 1.3 something enclosed up over 1.4, that is pretty low, what is a

signaling to you. >> it is weird this is one of the things where nobody has a good reason why bond yields have stayed the slow. everyone is banking on being the fed bond purchases that they're buying so many tenure notes and other bonds in the yields cannot go well. i hope that is true. if that is not the case the yields at this level are probably signaling a bag growth ahead. jack: in that case, carlton if i were a unicorn and i wanted to go public i might be thinking now is the time while the getting is still good. >> i would say you are correct. 2021 was a huge year for ipo we had roughly a thousand companies go public. record levels. but when you look at the ipos more than half her training below the ipo price. going into 2020 to a lot of ipos

and a huge driver of ipo in 2021. also investor appetite they may want to get in on the field under deals but expect them to be much more discerning than they were in 2021. jack: one of the big ipos are looking for 2022. >> at big one that we know about is going to be read it. i spent a fair amount of time on the wall street forum but some other ones that we are looking at a company time, giovanni, we also have house, data breaks and discord looking to go public in 2022. jack: i'll be interested to see if the reddit posters are pushing the reddit stock maybe that becomes the meta-meme. but let's talk spider-man, have you seen it yet? what does good box office results mean for the theater business? >> i have not seen it the numbers look great, movies called spider-man, no way home as it there's no way you see

this movie at home anytime soon if it keeps doing these numbers. early friday i was seeing projections like 150 million to 180 million opening weekend box office by late in the day friday the numbers were pursued above $200 million. we haven't had another movie during the pandemic era at a 100 million-dollar plus opening weekend. this is pivotal yellow pileup of big-budget films from studios that push those into 2022, many of them. you're in a situation where you have big movies indicate to big box office numbers but studios will not bring those out and the sister seem big numbers, this could really give the industry what it needs. it is good news for imax and cinemark, amc entertainment was up more than 20% on friday, be careful that the meme stock

prices are detached from fundamentals. one other thing i'll tell you obviously there are rising covid cases and hospitalizations and anxiety, it'll be interesting to see whether that derails the early projections for this mover. jack: coming up the hot holiday gifts and trends in the new workplace uniform as a pandemic drags on, retail analyst is next. ♪

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and you could lose up to ten pounds. trulicity is for type 2 diabetes. it isn't for people with type 1 diabetes. it's not approved for use in children. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. serious side effects may include pancreatitis. taking trulicity with sulfonylurea or insulin raises low blood sugar risk. side effects include nausea, vomiting, and diarrhea, which can lead to dehydration and may worsen kidney problems. ask your doctor about once-weekly trulicity. jack: retailers have a fuse days to hit their sales goals, can holiday shoppers to deal with the best stock idea. advisory group ceo dana kelsey. thank you for coming up on the

show. give us a view of the holiday shopping season, how much do you expect this year to grow over last year in the pre-company or before that? >> thank you so much for having me and happy holidays. i think it's a very good holiday season and i think holiday sales will be up, high single digits year-over-year. i think the consumers are spending, their social occasions are beginning to return safely and receive discretionary items sell through apparel and jewelry. this weekend is important and you can have a key weekend giving the lead up to december 25. jack: this is a big saturday and shopping. obviously all the strong demand you talked about has been a force pushing inflation higher, supply chain problems have push to hire, what is omicron affect, our factories were to shut down in her supply even more? >> they will remain through the first half of 2022, people will need to buy the goods when they see them, i think the omicron

affect, save purchasing is key but what we've been seen more conversion, people walking out with more shopping bags then more traffic. i think you still have people buying online but the year-over-year growth rate online, doesn't match what it was in years past because physical store reopening are attracted. jack: who are the stores and retailers that have done the best job dealing with the supply chain problems and who are having the most trouble as a result? >> those that are able to get the goods and don't have as much head when abrogating goods overseas, we see companies able to get goods and manage through this, bath and body works, jewelers that it been able to manage it carefully. it's companies like levi's that do a good job. companies that are prepared early in companies like macy's are able to maneuver through this. you will still see empty shelves as we go through the season.

but watch january, some of the goods that will arrive late that the benefit to the retailers like t.j. maxx, burlington. jack: a benefit for bargain shoppers that is a good tip. what is a superhot item this year, what does everybody want you assume retailers have a lot of pricing power. >> they have a lot of pricing power it's always about the electronics, apple iphones that are definitely in demand. you are seeing dresses continued to be very popular with social occasions and jewelry in the strength of luxury goods is unwavering since you have had as much travel. the high-end brands like lvmh are continuing to sell through. jack: the last time you were on you told us jeans were hot, that was the back to the office thing. we saw the cpi numbers that men's suits went up and surprised me. i didn't think anyone besides

guys went on tv were wearing suits these days. >> i agree i thought was surprising. unless, guess was going to happen, in 2022 will have nearly 2.6 million weddings, that's a real uptick from what it was in 2019 which is just above 2 million weddings. could they be buying the suits for upcoming weddings in 2022? jack: that's a great insight, i'm sure that's what it is. another interesting corner of retail stitch fixed rent the runway, though stocks have been battered this year for obvious reasons. do you see them bouncing backwards out of business? >> i think they will bounce back, it's only going to lead to more personalization and the ability to shelter better. i think sticks fix is going through a transition in his business model and read the runway and newly public company i think the active customers in continuation of increases will bring people to believe that

this concept has life. jack: one other concept, act leisure, status thing, nike, lululemon, under armour, are they doing well? >> i think they are in lululemon just reported the results they don't have a lot of art down there selling goods watch them expanded to other categories even like footwear next year. i think nike is transitioning from the headwinds of the shutdowns in vietnam with the supply chain disruption. i think overall you have a brand like nike that continues to be appealing in the margin profile of lululemon is very attractive and i think you will see them talk about new growth metrics for 2022 and beyond that are compelling. jack: can you give us the name of a couple of retailers that are kneeling on both, great traffic but doing well. >> i think of a bunch of retailers that are doing good of both. we stayed with department stores

macy's has nearly $9 billion in sales and online. you've seen it with lvmh on the luxury goods company the digital sales remain strong while the traffic is strong too. i think we see it from other businesses like lulu like we just talked about. we also have some of the apparel retailers like abercrombie and fitch doing a good job. then check out children's place also. i think the 2022, my themes or processes have been adjusted, purpose has been included whether it's community, employees and customers and all leads to driving profits. process, profit and process is 22 as compared to product, place and price which we've been talking about forever. jack: thank you for that. we are out of time that i cannot let you go without asking what is your best stock idea for 2022. >> 2022 and looking about the body works, ulta, estée lauder,

levi's, lvmh and burlington those are some of my favorite names. jack: always a pleasure to have you on. coming up will covid continue to block the markets in 2022, sarah will tell us what she's expecting from the pandemic, the feds and more. that's next. as a professional bull-rider i'm used to taking chances. but when it comes to my insurance i don't. i use liberty mutual, they customize your car insurance, so you only pay for what you need. wooo, yeaa, woooooo and, by switching you could even save 665 dollars. hey tex, can someone else get a turn? yeah, hang on, i'm about to break my own record. yeah. only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪ ♪

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>> in the bull market of 2021 extended to the new year, the cover story global portfolio manager sarah malik joined is now. it is great to have you on the show, we appreciate it. >> thank you for having me. >> we had three straight years of double digit returns. a bunch of forces are pushing the market in different directions. i want to start with the fed and omicron. not so long ago yet a covid wave

and that was a guarantee that the easy money would continue to flow. now it looks like the fed will tighten even if covid were to undermine growth, how does that play out, who wins. >> going into 2022 with uncertainty with the two issues the fed and omicron against credibility this week when they came out and turned more hawkish when it comes to inflation and the catching up to what markets were expecting. they're predicting eight interest rate increases to 2024. there is a silver lining were looking at inflation and seeing a shift in spending from goods and services. the second quarter of next year the base effect should help settle the numbers pre-the fed could come in under expectations when it comes to interest rate increases which would be positive for markets. with omicron we don't see a long-term economic impact from it. rosina short-term on mobility already in europe which is over

to the u.s. but each variant has lesser of an impact than prior variance and fortunately hospitalizations and mortality rates are running at lower rates than the delta variant. going into 2022 were expecting two things. number one companies the pricing power should outperform because they can overcome inflation and secondly the market should broaden. the second half of 2021 has been very narrow driven by tech stocks, next you were looking for small-cap, cyclicals in international development is to perform as long as they have the pricing power and play. jack: interesting they were moving from goods to services that's been a long time coming and will be important. another face-off we know inflation has been surging but gdp growth is at a 40 year high, how do those forces play on the market? >> the battle will be between which one wins, inflation or growth. our view is the hard data on economic growth remains strong. we think that should allow us to

increase interest rates at a measured pace. if you look at the last to ray e hike cycles entered between 19 and 14 for the s&p 500, even if we do get two or three rate hikes in 2022 it does not mean the end of the bull market. economic growth should translate to earnings growth for companies and our view you can grow at about high single digits and that should translate to positive market return but not as positive as result 2021. jack: ben levisohn, jumping. >> evaluations are skyhigh, but earnings have been much better than analysts expected, which one is going to win out this year. >> in 2022 were all about our needs, we don't see any more room for evaluation expansion, we think it would be flat - tension. >> down but it will be learning double-digit that drives market higher. if inflation spirals out of control that would be an issue, the key factor for us on inflation is what do we just do

next year. we don't think wages will pick up dramatically in the shift to spending from goods to services should offset inflation. that'll be the positive that allows economic growth to win out and if the fed needs increased interest rates a couple times it'll be okay because earnings growth will carry the baton. >> this is karlton, just curious what your take on this spending conductor and what you find attractive there. >> were positive on semi conductors, one trend is a lecture mobility this is the combination of electric vehicles and digital intelligence in cars, the main input for that it's him i do, cars are basically becoming smart phones on wheels. complex safety system, entertainment, electric vehicle the semi conductors and ev's and a dollar basis is double that than traditional cars, electric vehicles could have over 100% next year and the market is

currently 7% and could grow to 30%, this is like nxp, infinity and their both levered and both have pricing power both have low inventory raising and beating targets, we think they can continue to do so going forward. >> we have about 30 seconds left, what you like about small caps. >> if you look at small caps they outperform in periods of higher inflation and higher interest rates, that is what we expect this year. has evaluation story but you need the catalyst because evaluation are not a reason for stocks to go up, interest rate, higher inflation and look for ones that pricing power to expand margin and grow earning. jack: a long time coming that small-cap rally, thank you a lot, it's always great to get your insight. >> thank you for having me. jack: roundtable members give the investment ideas for the coming week in the case for real estate. stay right there. ♪

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jack: we have inflation, strong growth, stocks a high evaluation our last guest says they cannot go higher. superlow bond deals, that's a nice formula for owning real estate. >> real estate looks attractive, we had a monster year in 2021 of more than 30% so far this year. i spoke with the talk analyst over at morgan stanley he thinks we could get another 10%, strong growth in 2022, strong growth and cash flows and you get on average 3% dividend yield across the industry. among his favorites is a company called invitation homes as

single-family, the category that it didn't exist before the housing bust, it's absolute murder right now if you try to buy a house. prices are up 20% over the past year end it was not easy buying a house a year ago. that is good news or landlords and rent. i spoke with the ceo of invitation dallas tanner he thinks he can gain market share for mom-and-pop landlords by offering better services, you could hear the conversation on my bearing street wise podcast. jack: we talked about this before you can lock in the home at 3% interest rate on your mortgage while inflation is a 6%. let's move on to actionable ideas. i'll start with you karlton. >> obligated walgreens, earlier this month there was reports looking to sell drugstore chains. jack: ben what is your idea?

>> looking at walt disney the worst performing stock in the dow this year. it's still making movies that people want to see, disney+ theme parks, covid will be here forever at least i hope not. >> the dog of the dow, thank you all great ideas, to read more check out this week's edition of barron's.com don't forget to follow us on twitter at barron's online. that is all for us, we'll see you next week. manchin and kyrstd steve moore and many others. >> from the fox studio in new york city, this is "maria bartiromo wall street". maria: welcome to the program that analyzes the week that was an helps position you for the week ahead, i am jackie deangelis and for maria bartiromo. another wild week for stock as investors digest inflation numbers, fed comments and growing covid restrictions. mark on where to invest now. democrats set to miss a key deadline but holding out hope for pushing through their social