again lionized by the left as great standard there for democracy. but again you can imagine if it was the right it would be a very different story. >> absolutely so much coverage by the way the tennessee story lost over what the expelled lawmakers did which was usable horn to take over the legislature to obstruct the work of the legislature for almost an hour working in tandem with crowds that had gathered in the gallery it's much easier to did nouns the injustice of all of this if you say the lawmakers are standing up for the victims. gerry: thank you very much to kim strassel and barbara new york i'll be back next week with interviews with the boston journal at large. thank you for joining us. have a great >> "barron's roundtable"

sponsored by global x etfs. ♪ jack hough: all come to "barron's roundtable" where we get behind the headlines. how will increase in global tensions needed for energy security and the push for digitization affect your investments? global head ida lou shares 3 unstoppable trends. the supreme court keeping the rules for now, how could the bank and courts threatened the future of drug innovation and what should investors be watching for? later the super mario's movie breaking records at the box office was what could it mean for a revival for the movie theater business? we begin with three things investors ought to be thinking about? stocks climbed after cooler than expected cpi report and

big banks beat expectations to kick off earnings season. how this will impact the fed's ongoing fight to tackle inflation. the biden administration has strict rules the can for cvs to the forefront of the auto industry. what does it mean for otto stocks? commodity prices on the rise? could this be the yearly stages of the tenure super cycle? on "barron's roundtable," andrew bary, carlton english and jack hough. the numbers are lower inflation, slightly higher jobless claims, stocks were slightly pleased? carleton: the market climbed 0. 2%. %. to your point, slight improvement in inflation numbers, seeing elevated inflation on the core measure by 5.6%, higher than the fed wants to see. the data over the last week

changes the plan in terms of rate hiking. a lot of people expect to see another basis hike in may. jack otter: bank earnings were pretty good but what does it tell you about what the fed might be looking at? carleton: we saw jpmorgan with a huge beat in net interest income and with executives talking they are prepared for an economic slowdown, growth at a slower pace. and we knew going into this earnings cycle banks were starting to tightening in their lending in anticipation of recession coming and banks building up reserves for anticipated credit losses. the earnings beat is great news, don't think we have to fear the health of the sector but when you listen to what exec gives are saying, we have tough times ahead. jack otter: those numbers came

mostly before svp's collapse but there's real tightening in lending of the economy. what are you looking at next week for another reading indicator? carleton: we will be hearing from more banks, more from the regional banks that are really hurting the people we saw at the end of march. those are the bank's where you want a sense of their health. we knew that jpmorgan would do well in this climate. the regionals will tell another story. jack otter: the biden administration has proposed rules for electric vehicles. is that achievable? andrew: part of a heavy-handed, expensive campaign by the biden administration to get americans to buy electric vehicles whether they want them or not. the latest rule could mean they could be 60% of new car sales by 2032, 7% now.

americans are not that crazy about evs and it will be a problem, people worried about range and the availability of charging stations. everyone i know that had one is an affluent person, don't think anyone with a single car has an ev right now. i don't think it is good news for otto stocks. gm and ford, they are concerned about the transition to evs and make anything like the kind of money they make now. looking for otto stock, i consider vw the german automaker, stop trades pretty cheaply. another play is freeport mcnamara and copper demand could rise sharply in the next decade. jack otter: you've looked at analysts thinking this could be

the beginning of a nice season. jack hough: i am commodity confused. am i going along, palladium, short, the naked butter friend future spread, is that a thing, i speak with john laforge, the head of real asset strategy, investment institute, very simple thesis on commodities. they tend to go through bull and bear super cycles the last 10 years or longer. there have been 10 since the american revolution. we are in the seventh one now, commodity prices broadly up 80%. the average run is 250%. you don't need a hot economy or stock market.

jack otter: how can investors get access? jack hough: i share gfci commodity dynamics. there is an actively managed blackrock commodity strategies, the shares are too expensive, look for the institutional shares, get to a broker with lower investment number. jack otter: how will increasing global tensions work nicorette knows quitting smoking is freaking hard. you get advice like... just stop. go for a run.

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jack otter: citigroup calling attention to unstoppable trends people need to future proof there portfolios. here is global head ida liu.

>> thanks for having me. jack otter: great to have you here. i want to get to these unstoppable trends. this 2023 report, a couple of statistics caught my eye. one was the prediction that global growth would be one. 7%, you bumped that up to 2%, that is slow by historical standards. >> 40 year lows in terms of global growth outside the pandemic, and we bumped that little bit to 2%. some positivity in the european region as well. it to tough and volatile year for investors. we had seven rate hikes last year and another one coming up shortly but we will reach peak rates this year and expects and studying and decreasing of the rates towards the end of this year.

when we reach peak rates, recession and inflation -- it is, we believe that we are going to hit the recessionary period either this quarter or next quarter and as you know markets don't bottom until the mid-deca in a recessionary environment. a lot of volatility yet to come. you see the inflation come down from 9. one% peak one% peak in june last year to 5% last month. we project 3. 5% by% by the end of this year. jack otter: in fitting with all of that, your prediction or economists prediction of 3% 10 year treasury yields by the end of the year which suggests the time to be adding the portfolio. >> that the call we are making for our clients. taking advantage of this in the

fixed income side of the business and adding to the portfolios in short term duration fixed income, municipals, treasuries you name it. jack otter: after tax equivalent yield, looking attractive. >> looking at high single digits, 7%, 8%. jack otter: i want to talk about unstoppable trends, one that is obvious and not so obvious, geopolitical tension globally especially the china/us relationship. how should investors be responding? >> us and china bifurcate. the relationship continues to be challenging but as a result of this bifurcation of the two powerhouses is a lot of beneficiaries of that including different trading flows and trading partners, you will see india be a beneficiary, countries in southeast asia benefit from this bifurcation, mexico and brazil.

think about diversification, areas with pockets of opportunities geographically and get some exposure in your portfolios. jack otter: after ten great years in the us you are coming the investors boost international exposure. >> that is correct. we have a 10 euro market and make sure we are getting strategic pressure vets in the portfolio, things we've talked about, shifting to high-quality dividend paying stocks, adding private equity and alternatives exposure and taking advantage of unstoppable trends we are seeing for investors. jack otter: another trend is energy security. you have an interesting take on what investors should be doing. >> no doubt the transition from fossil fuels to clean energy is here to say. there's a lot of opportunity is the transition takes place. including clean energy

transition companies, technology companies, battery storage, ev opportunities and playing that spectrum for our clients, investing in the clean energy transition but this won't be a quick change. it will be a strategic one over a period of time but we see a lot of growth in the clean energy transition area. jack otter: natural gas will be here a long time. one more before we leave, digitization. we saw this acceleration and it looks like some of those companies have been left for dead and taking a longer view. >> there is a huge opportunity in the digitization in the ai space. we love robotics, cyber, all around the world, what is top 3 on their mind? cyber is in the top 3 category of future spending, cyber security and the top 3 in the industry will grow over time.

this entire digitization is fueled by the semiconductor industry. let's not forget the brains behind that. it will be an incredible opportunity. jack otter: we could go on for hours. thanks for coming back. >> thank you heavenly. jack otter: the legal battle over controversial abortion drug could have implications for get a toy oversight. wiki d so it's decided, we'll park even deeper into parking spaces so people think they're open. surprise. [ laughs ] [ horn honks, muffled talking ] -can't hear you, jerry. -sorry. uh, yeah, can we get a system where when someone's bike is in the shop, then we could borrow someone else's? -no! -no! or you can get a quote with america's number-one motorcycle insurer and maybe save some money while you're at it. all in favor of that. [ horn honking ]

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and how will it change the playing field for drugmakers. josh nathan cases joins us now. this was unprecedented. the original ruling reversed and fda approval that could take drug approvals from the scientific realm to the political realm. is that why pharmaceutical executive's are so upset? >> there is a concern this could apply to any number of drugs. the point of a big pharma company is to get the drug fda approved. congress spends billions of dollars on this. what happens if you spend 10, 20, one hundred million dollars, a billion dollars getting drug approved and a federal district judge steps in and says actually know. you start to worry pharma companies might wonder if it is worth the investment to go through the fda approval process that is the bedrock of the industry. carleton: what else is working its way through the pipeline?

>> gene therapy for muscular dystrophy getting a lot of attention. and all dimers drug from biogen, going from full approval and obesity drugs that are a central phenomenon for the past year or couple years. the most effective one, any liability drug only approved for diabetes, they are going to seek approval in obesity. the question is whether insurers will cover it. that will depend on questions about cardiovascular outcomes over the coming months. this could be a $2,000 a month drug without insurance coverage. jack otter: what is your best guess? will they cover it? >> the consensus is there will be broader coverage than there is now, with pressure from consumers. >> the upgrade from goldman on weight watchers.

weight watchers has been around since the 60s. americans are as fat as ever and have a telehealth program where you can get your prescription for weight loss drugs. and stock is climbing. everyone loved it. they are testing the waters. every program will have skinny service with weight loss drugs. don't care if your program is called kick in the rear end. the drug will work weight loss but will it help these companies? >> investors are looking at ways to get this. the way it is played out, the majority is built-in. people are looking for other ways to do it. weight watchers went up 90%. jack otter: you are more bullish on weight watchers than jack. andrew: the program is okay but it is hard to lose weight. you are doing as good a job as any without a new diet drugs. these drugs which can help you

lose 15, 20, 50 pounds could be a game changer for obese america. jack otter: let's switch to vaccines. the national covid emergency was officially ended. the biden administration spent $5 billion toward developing the next generation of virus vaccines. where does the stand? there was a setback for moderna. >> the question is they are moving from the covid era when the vaccines were paid for by the government to the commercial products, moderna had a minor setback, but what they are focused on is the flu/covid combo, interesting idea in the next couple years. they shift the rest of the pipeline. jack otter: cancer treatment is interesting. >> moderna is using this technology for a lot of drugs and one thing is developed a

cancer treatment using the same technology and approach as for their covid vaccine. they tested and in combination with merck which is big cancer immunotherapy and they had positive results they announced a number of months ago. that's promising it is gotten attention and we will see where it goes. quite interesting. >> could be applied to many cancers. >> they want to test this. jack otter: thanks for bringing your expertise to the panel. you have a couple interesting stuff, jack sees signs of life in the movie theater business and i remember kind of thinking like, "oh my gosh, i think we could be sisters." because i think we looked... yes. right. yeah. and i don't think at that time- i think you're the one to tell me that we had the same birthday. yes. it's really unbelievable when you think about it, because it's been, like, really over 20 years that you were my mother and father's banker, you became my banker and now

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jack otter: my 16-year-old has his permit. i am teaching him to drive, he said the scariest words i ever heard in my life, which is this is really different from mario kart. jack hough: good luck with is that. super mario brothers movie has exceeded expectations, made $200 million its first week. i will put that in a metaphor to give you an idea. i thought the thing would open like rosalina in the bad wagon but it came out of the gate like donkey kong in the desert kart. andrew knows what i'm talking about. macquarie research raised its full-year box office forecast for this year $8.6 billion, up 16% from last year still below 24% below 2019. its top pixar cinemark and imax. mission impossible movie, a new indiana jones, live-action

barbie, new lyrics for the song kiss the girl they reportedly have been changed to include consent, don't know the details. can't wait to hear the crab singing about a mutually agreed-upon respectful handshake. jack otter: i have heard you dabbled in stock picking up. . tell us your actionable idea. andrew: equitable looks like an attractive stock in the annuity business, trades cheaply around five times earnings, owns a stake in the asset management company, 2 thirds of the current stock price. interesting play on and out-of-favor industry. jack otter: the -- andrew: it has real estate exposure. the quality of the loans that it has.

jack otter: what do you have? carleton: the "barron's roundtable" newsroom is inspired by mario brothers, they are plumbers. they are a distributor of plumbing, heating and ventilation equipment, they are focusing on the us, got a us listing, could soon be included in the s&p 500. compared to other distributors, a little cheaply even though it has the same earnings growth as others, looks to do well. concern about new homes being built but most business is in repair, maintenance and improvement. anyone knows if your plumbing goes down you are paying everything to get it back up. jack otter: check out this week's addition of barron, - [narrator] this program is a paid advertisement from us money reserve, a company not affiliated with the us government