passengers across the country scrambling to book new flights and overnight hotel stays. and add this to the turmoil, the 5g rollout for major telecom companies is this weekend. planes that have not systems to combat 5g interference may be grounded causing even more delays. there is also a potential southwest pilot strike ahead, also. of course all this is happening as aaa is predicting record-breaking weekend for holiday travel. expecting over 50 million americans to spend fourth of july away from home. we hope that wherever you are celebrate this holiday you have a great and safe fourth of july. happy independence weekend everybody. i will see you again next time. ♪ boxed barron's roundtable sponsored by global x. ♪ ♪

♪ ♪ ♪ welcome to barron's roundtable we get behind the headlines to prepare you for the week ahead. i am jack otter brood coming only wagner groups mutiny in russia jubilee expert to break down what it means for putin's regime and the ongoing war in ukraine. then, for the first time of war than a decade investors looking for income have lots of good options. we'll show the best opportunities. we will continue what to consider for it later to say medicine but the version for humans cost as much is 37 times more than the one for fido. we will explain. we began as always with three things investors ought to be thinking about right now. stocks ended the week higher amid renewed confidence a soft landing for the economy. bad weather wildfire hayes causing troubles for air traffic travelers heading is a holiday week in airline stocks are hot right now prevent employees working from home went to keep it that way concerns about office vacancies have traded value for certain markets on the barron's roundtable might caught

colleagues. so then, explain this to me. i typed from zero -- 5% and get the job market is strong, gdp is up s&p 500 is up 16% only halfway through the year. what's going on? >> we have our bear market market last year end anticipation of the rate hikes. and now that market is saying okay that that is almost that we are going to hire. as you said 16% for the s&p 500 at the best since 2019 which okay, that's not so long ago. look at the nasdaq is up 32% so far this year. that is its best first six months since 1983. basically the market came into this year end said hey, we can see the fed's topic the rate cuts by the end of the economy seems to be holding out for the job market is still strong. we have no reason to drop or even something like student loan decision by the supreme court does not look like it's going to slow down the economy right now. before you mention a great run

by nasdaq for this is interesting i saw the staff the top five toxins fighter technology etf are up 73% on average here today. so, the people chasing those as higher of the second half starting to pick up but not doing as well. but i looked at the stocks that doubled over the last five years and status in the first six years. they did pretty well that we happen sometimes but they continue to do okay. here at a point now people are starting to come next if you are not on how the recession. asking for things like banks or industrials in oil stocks. it should be able to do pretty well. six payroll numbers can be really important. not that important to see the job market continues to weaken. that's the thing that gets them to worry about recession.

we have not seen it yet. if we did get a surprising jump in layoffs. if we did get a surprise increase in the unemployment rate a real meaningful one, you might have people reconsider. until then the market is going to say hey we are in an okay spot. jack: goodness is goodness which is sometimes unusual. andrew tough week for some flyers pretty got lucky and went across country and back with no delays but flights were canceled, it was awful yet through all this every single seat in my airplane was full and airline stocks are doing pretty well precooked is a very robust summer for air travel for you may exceed the 2019 levels of airlines basically doing very well should be very strong summer. and with recession fears easing the stocks have been on a tear lately there are 30 -- 40% literally last month alone delta has been a leader in that area deltas the industry leader had a very upbeat analyst investment date this past week raised financial guidance in the stocks up 48 right now which is still pretty reasonable eight times

earnings. what's one thing you've warned about the travel industry is a crucial stocks it had a great ring he said it might be time stairway? or subject cautious on cruise stop by carnival summit doubled in price before this year but debt levels are up dramatically since recovered. articles over 30 billion in i would be cautious on the because of interest expects and capitol expenditures. quick test pennant to the blockbuster movie and going to go see mission impossible week after next. i was that business shaping up this summer? >> it looks pretty good this weekend we are opening with the indiana jones starring harrison ford was 80 years old now is kind of the joe biden of hollywood. [laughter] live another older star tom cruise starting in mission impossible. then you have the new live-action barbie movie opening on the same weekend as a prestige movie about the development of the atomic bomb during world war ii. jack: very few people would say

why go to barbier oppenheimer? it's one of the most people carlton lots switch over to the interesting economic data. productivities and flatlining for a while connected to the state home trend? >> apparently's outdated from the journal of labor statistics show people who work from home work to half hours fewer per day in the in office counterparts. this is especially important as managers are trying to get people back into the office. but it's not just managers among people back in the office. office building owners went left to get people back in the office because a lot of office i've seen stocks fall by 50% or more over the last year for you office vacancies as high as 25% it is like chicago and san francisco. jack: 's investor opportunity? >> well, if you're at the top of the office of so good. this action could be a buying opportunity for sluggishly willing to >> some volatility do sitting in short sorting here. office wooden cheap is about half of the s&p is trading at.

look at properties 91% occupancy rate you get a good dividend there. other places to look would be cousins of properties in highwood's properties both based in the sun belt which mean a sudden influx of people. more people means more workers to get good dividend yield for. >> residential rents going up sued investors want to be there? >> again be careful. while people are moving to the sun belt you are seeing so much building there is can be a little under pressure in those areas you want to instead with this in the coastal areas with is not as building going on. you get market avalon bay equity residential progressive that steven zoom calls with you guys at all hours and i know when you are working from home and not to have our shorter days for. >> thank you. support what was gained from that wagner groups tune on pollutant and was for russia's

our heritage is ingrained in our skin. and even when we metamorphosize into our new evolved form, we carry that spirit with us. because you can take alfa romeo out of italy. but you best believe, you can't take the italy out of an alfa romeo.

so far the aftermath of the wagner group so-called march for justice in russia, was the future for putin's regime and the ongoing war and your friend chris tribunal silverado policy accelerator german demetri. thanks so much for joining us from washington. i guess it is been a very busy week for you. exit has been for this is been a remarkable set of events you have an armed and russia yet the chief you too dear is still alive and well. away from russian jails in fact is been reportedly cited out walking around st. petersburg. jack: everyone is wanting well this change the course of the war in ukraine? has it embolden the ukrainians? does it weaken the russians, tell us about that. i'm not sure it's going to have a change on the war itself. because at the end they putin's

continued this war ukrainians are emitted to liberate their country were continued will this was going on. in fact the forces launched one of the biggest strikes on major cities in ukraine in the midst of this uprising was taking place on friday night. so i do not think the ukrainians are going to both the leverage in the near future at least to get some gains in southern ukraine and easter ukraine when they continued their counteroffensive for the one think this shows is putin has weakened and if ukraine is able to achieve a dramatic breakthrough in this counter offensive that could be a fatal blow to his hold on power. jack: wanted to ask about that also what you see is a future for him? one thing you've said which is kind of interesting it's possible he just would not run for president in march? >> well certainly has expectation and desire to win because the reality is he cannot trust someone who would come next to protect him the way he

protected yeltsin from being prosecuted for corruption and other charges that he may have otherwise face. but, it may not be up to him. the reality is the elites who have been observing the events of last weekend that saw him not just not responding forcefully to the mutiny but also dithering for 13 hours for ultimate he appeared on television and said he went across the uprising and then of course he didn't. they might come to him and said look the elections are next march. it is best if you don't run perhaps one of us is going to step in, the new generation younger blood. we are going to give your assurances were going to protect her you'll keep your ill-gotten gains. we were not going be sent to the hague for trial it's best if you do not run. before retiring as a billionaire your doctor might be the best outcome. what other big concern for americans when evie's instability in russia, is there an increased danger the nuclear weapons in the country would get into the wrong hands?

>> so, the nuclear weapons are fairly secure. they are lockstep with digital keys with permission action links the codes are stored securely in moscow there's very little dangers of getting access to these weapons were his troops were driving to moscow and even if he had he would not have been held to launch them. that dangers quite minimal. and look, actually overall danger of nuclear weapons for nuisance conflict is been dramatically lowered because of there's one thing we have learned about vladimir putin or the course of last weekend's he hates making tough decisions. takes him a long time to do so. so the prospect of him actually ordering a nuclear strike on ukraine or somewhere else i thanks so much lower today than it was for many, many months for consistently good to hear from you mention what putin's future is, what about prigozhin? it seems like a very broad possible outcome.

he could be killed? or he could for run for office office in russia how you play that out? >> certainly dramatically increases name recognition across russia he was out that well known up until last friday when we launch this mutiny has never appeared on russian television. now everyone knows who he is. challenge the powers that be the kremlin and the ministry of defense and so far he has at least survived it. he manages to keep this going come staying out of jail and single ip may very well have a political future in russia. as i mentioned he has been cited in st. petersburg is meant in or out of belarus it seems like his planet lisa's been shuttling back and forth. and for now at least putin is letting them stay alive while it seems he's actually going after the generals that did not really participate in the uprising but maybe were aware of it and let it happen while the chief mutineers out free. what's kremlin it's very interesting with that with that let you go have you back because

it's a fast-moving story. thank you demetri. her accent so. chris me about while surgeon reporter remains unjustly detained in russia. it's been nearly 100 days since he was arrested. coming up next fair pivoting to investing opportunities for more than a decade it's been tough to with a majority of my patience with sensitivity, i see irritated gums and weak enamel. sensodyne sensitivity gum & enamel relieves sensitivity, helps restore gum health, and rehardens enamel. i'm a big advocate of recommending things that i know work. ♪ tourists tourists that turn into scientists. tourist taking photos that are analyzed by ai. so researchers can help life underwater flourish. ♪

jack: hears her stare impossible to find investment with a decent yield. now there's an abundance of opportunities. andrew, you have written a great story on this topic. let's are the stock market. were talking the highflying tech sector but some these dividend players and boring sox are looking pretty interesting right here but the stock market subsisting present this year. many income oriented parts of the market where they have

banks, healthcare, consumer, utilities or flat in the red, basically did not miss out on anything so far in the stocks. jack: people i could change the high flyers that may be rough so that doesn't peak? >> like exxon come from coal, bank of america, pfizer event verizon, at&t. jack: the depth of the junk-bond process go to good fiancé phones. in the treasury market a two-year can yield almost 5% buckles like a nicer place to park your money progresses it a place to park your money. almost 5% into your treasury five plus on treasury bills right now about 4% on longer-term government bonds. treasuries offering recently good deals but exceedingly as inflation around 3% progress an argument among bonding geeks, you put your money in the short term stuff and then help in a year or two you can roll it over at equal yield or do you say

look, were not pointed the opportunity go to tinian park at 3.7 or so? ask him about. 5% t-bills are hard to pass up i don't think you're going back to zero short-term rates anytime soon you make it three -- 5% short-term yields for quite some time right now. quick to look at the yields of the treasuries are getting 5%, is it worth it to look at junk bonds are they worth the extra risk? >> junk-bond is 9% of pre-could yield given the fact it looks like the economy is going to avoid a recession. on default rates are probably going to say pretty low. one thing is underappreciated by the junk-bond market most of the sector is pretty high quality at least for junk is concerned. then some good consolation the there. jack: somewhere in the middle may be treasury of mortgage-backed securities, decent yield and it's almost risk-free request there for and a half -- five and half% right now. very high credit quality these are essentially government agencies for your base of getting historically wide

differentials. >> like about mortgage-backed securities it's a chance for the retail investor to get ahead of the so-called smart money. look what the banking crisis or turmoil was earlier this spring, a lot of banks were not holding mortgage-backed security total miss timing of getting in there for another come down a fair bit for retail investors might be a chance to take a look at them pickle access right banks are buying mortgage securities with their litter 2% two years ago to get 5% for the fact banks are selling the federal reserve is selling is crating an opportunity right now in the market. >> was striking to me as these great opportunities both stocks, the dividend payers things like treasury and junk bonds and you do not expect the hybrids we have preferred sister offered by banks. you want to really go into a bank you must look at the stopping at the dividend there. you have convertibles that can be converted into stock but those around so much because the stock market is and so well. it's probably just worth passing this up as well? >> are not quite as attractive as they once were. i might highlight in the comfort

here there's a busted area which is company cymbalta got hit because of some problems they have perceived problems i would highlight coin base, micro strategy of impala tonya got 12% concealed in the bus to convertibles right now. jack: the crypto victims right there. andrew, help viewers know a few years back you did investors a wonderful service by pointing out limited partnership the pipeline companies with two seals were very dangerous, then picked up the mantle both you guys read about this for the investors were initially very angry that it turned out you are exactly right. now suddenly pipeline countries are available as common stocks, and you like them. >> is looking really good right now you're talking about five -- 9% yields right now in companies like williams, kinder morgan, energy transfer, and others. the outlook looks pretty good you have low capitol expenditures right now meeting the high free cash for the starting buyback stock which they never did before.

the durability of the sectors pretty good. it's are want to go there, they're still the structure which is low more complicated from a tax perspective you have k-1 forms what's called a return of capitol. if somebody wants to venture there is or summery light? >> if you want to venture into the area companies like enterprise products or energy transfer you look at the simplicity of a corporation a 1099 you can buy kinder morgan and williams requested his or just call takers these commodity can go up and down but they will still pay. >> business of toll pretty durable business model right now. >> not getting built. >> you cannot put them up the bite of menstruation not allowed to put up in the pipeline right now. >> all right, thank you and are you guys meanwhile at one stop to buy one stop the cell from andrew. cross wintel slide what do we always say, son? liberty mutual customizes your car insurance... so you only pay for what you need. that's my boy. ♪

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pet. numbercrunching or drugs used to treat eczema and other skin conditions very do have psoriasis does affect me a bit too. the cost of these drugs to cost $43000 a year. now, you have a pet that has the same affliction there is a drug the cost no more than $2400 a year. so quite a difference there. now of course you're going to be sent we are tied by human versus puppies. except the drugs are manufactured pretty much the same way. they taste similar rogatory constraints the cost of r&d for both drugs are not that different.

>> is justice a case of what the market will bear? is the more to the story? >> pretty much the case of what the market would bear. human drug costs what it does because it can bring this a bunch of reasons for that. drug companies in the u.s. do set prices were as developed nations have some controls over prices. people on both sides avail great drug costs are way too high there is no consensus on fixing the problem. for drugs for pets you basically have the drugmaker selling to the veterinarian who sets the price. for human drugs you have a bunch of intermediation of the insurance companies for you have the employer's coming of the pharmacy benefit companies have a bunch of other intermediaries ms before we get to the most the conversation, the patient and the doctor. toxic fix the system somehow let's hope. in the meantime we tell people what to buy frequently but andrew, once in a while it's important to tell them what not to buy your thoughts here? >> i would say sell apple then hit it rejoin market budgeted%

any stock is ever hit that lev level. near record valuation of trade for 30 times earnings right now but i'll be cautious on right now for this not a lot of growth in apple right now. i think it's peak enthusiasm for apple right now. jack: not a bad stock but not time to buy in. it's been? >> medical supply companies been stuck for a while it is cheap, it's coming up to a level that if it breaks through it could it looks great here. c4 people to the products. thank you very much check out this week seven edition of barron's.com do not forget to follow us on twitter and that is all for us. have a wonderful fourth of july see you next week on barron's ♪ ♪ jason: good sunday morning, everyone. welcome to "sunday morning futures," i'm jaso