maria: welcome back one thing you need to know ahead of next week if you want candy this halloween you can have to pay up for free cocoa production has declined with an 14% due to being shortages leading to a 7% increase in chocolate prices from last year, were taking a look at prices with "mornings with maria" and i hope you'll join us for more 6 - 9:00 a.m. eastern and i'll see you on the fox news channel 10:00 a.m. eastern lifer "sunday morning futures". exclusive interviews with ohio congressman mike turner, polson and president founder john polson, rnc committee chairman michael whatley and george's editor kelly loeffler, join us then on fox news, that will do it for fox business, thank you so much for being with us. have a great rest of t weekend. i'll see you next time. ♪ "barron's roundtable" sponsored by global x etf's.

♪ >> welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead. i am jack cowin for jack otter. tensions building with america's biggest adversaries, were looking at the threats to the national security and economy with retired admiral and former nsa director michael rogers. later we have the results of barron's latest big money poll with america's biggest money managers are saying about the markets and where to invest now but we begin with the expert panel and three things investors to be thinking about right now on the "barron's roundtable" my colleagues ben levisohn, allie and our root, stock index mix to partly cloudy this past week what happened. >> we had a spike in yields in for the most part that was not a good thing the definition for about an ended six week winning

streak and s&p finished lower and the nasdaq squeaked out again for several weeks in a row largely because people want a big tech stocks like nvidia, tesla had amazing earnings up 22%. if you look at that you have the optimism around tech earnings and a bunch of them next week on the nasdaq, not a great week. >> if you take a step backward in a very powerful upturn in loctite mid-september that was a huge momentum shift so the powerful trend if you take a step back things are looking pretty good, setting out what. >> i thought i saw a powerful uptrend, you saw the golden no golden says the stock market is expensive and therefore returns over the next ten years will beebe law. we seen gmo, bla in the past do you agree or disagree with that. >> these things make me laugh. >> you don't have your crystal ball? >> i look back to my inbox and i found it e-mail 70 forecast from the beginning of 2019, it said the u.s. stocks have dropped 2.5% a year over the next seven

years were not quite there we have 14 mormons but the market is up 17.5% annually since then. >> is not naming names. >> an equity shame anybody but it goes to show the market can stay expensive for a lot longer than people think, the market have been much more expensive since the 1990s and beforehand and if you waited to get cheap in 2008 you missed you mr. bradley, that is a big thing to remember you are better off rebalancing. >> you better get into overseas stocks because u.s. ones are expensive, are you brian that. >> is like a broad index from msci, it has every country, the u.s. is to a massive portion because we're the largest market but you do get china, europe, japan and all these other things and you can get in the ac wi etf and vanguard has a vision with the vanguard total world etf.

>> were heading into the art of earnings season what you watching and what is at stake. >> it your popcorn, we have five mag seven stocks, 12 training dollars in market cap, one quarter of the s&p 500 reported in a three day time, 72 hours of fun, buckled up, this has huge implications for the market obviously with the heavy index weightings but also the a.i. team we're going to see the ripple effects. >> to any of these look tempting around earnings. >> i would say out of apple, microsoft, meta, let's keep counting, amazon and alphabet, that was a quiz meta is the best looking one because it's only one that has materially outperformed the s&p 500 this year they recently pulled back uptrend, pullback and growth. >> but when workers voted down a second tentative deal. what you make of that are there signs of progress? >> progress the first yield 25% wage increases 96% of the

workers said no way, this time 30% wage increase, $7000 signing bonus another enhancement. 64% of the workers voted no, what will it take to get it done, 40% wage increases, $10000 signing bonus. we are close. >> even when you get a deal yet massive debt in the history of mechanical mishaps but then i look and i see more than half of the wall street analyst who cover the stock say to buy. what is the bow and are you on board with it. >> it's very simple half a trillion dollars in backlog and that is what the planes are valued on the backlog. if boeing could build them they would make money, but we hasn't reported profit since 2018 they were supposed to report in 2024 and the door blew out not metaphorically through losing money this year end they should make money next year, and the

bookcase achieved 2279% free cash flow it's cheaper than airbus in the market. >> allie are you crinkling your nose. >> i said prove it to me first if it's real, but see it show up in the stock, 2013 to may 2018 was a time to be. >> i think this will be ge where it turned larry culp the year to get things going in the stock took off. >> i explained double case, i would not touch this. >> thank you all. russia, north korea, china and iran looking to diminish america's status on the world stage. are we doing enough to stop them, nsa director and former head of the u.s. cyber command retired admiral girl rogers joins me let's review. okay.

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jack: america's biggest adversaries pushing geopolitical risks higher with less than two weeks until the election, there's a lot at stake for the next president former director of the national security agency and former commander of the u.s. cyber command retired admiral michael rogers, north korea has sent troops into russia, what do you think north korea is looking for in return, what is it mean for the threat posed by north korea to south korea and the u.s. >> i think north koreans are looking for increased support for the russians that's important for north korea given the isolation if you will i think the north koreans are looking as an opportunity to increase operational experience and capability of their military which of your south korea of the

united states are very concerned it's not a positive element and you can transfer the imagination and ukraine's ability to defend itself tougher as the russians gain more military capacity through what they're getting through the north koreans. jack: we see rising cooperation between russia and north korea but in iran and china, those are for countries that would love to see america's status diminished. what we do about that, are we doing enough? >> were going to need to highlight the activity that we see of concern and we will need to bring more pressure to bear on the four nations in that pressure needs to come not just from the united states but a broader set of nations to include our friends and allies. i think we have to look harder about, if you look at how the chinese are providing proponents of materials that are helping the russian re-military probably to rebuild itself we have to ask yourselves, how do we interdict or stop that from happening if you will. >> the u.s. election can help determine whether u.s. support

for ukraine dries up, suppose it does, what happens next does ukraine get forced into a deal that it does not want and will russia's territorial ambitions stop in ukraine? >> if u.s. aid significantly reduces to ukraine i think what happens, ukrainians look to europe and other nations to say can you step up and fill the void. i think that will be very problematic. i think if that is treated becomes problematic than the challenges of your ukrainian and losing the support if you will, the money and military capability and omissions then you're starting to look at options like how might i terminate or in this conflict and what is the best deal that i get in if you want to negotiate from strength not from weakness, that is a challenge for ukraine. >> were waiting to see if israel's military response directly to iran, what is your

expectation there is. >> i believe they will respond, i believe the response will be highly visible as well as somewhat ingenious and what i mean if you look at what the israelis did with the walkie-talkies and the patron issues in lebanon and have a put hezbollah and the iranians on their back feet if you will predict a good looking to replicate that idea and how can our response continue to show israel's operational and technical mastery in the fact that iran has been very, very ineffective if you will. i expected to be a bit of surprise if you will and the israeli response. to the armstead allies in ukraine. how would you sum up america's long-term military preparedness at this point. >> clearly the result are support for the conflict in ukraine what were doing to help

israel with respect to hamas and hezbollah and what were trained to do with dealing with the red sea with the houthis in maintaining readiness in the south china sea and the indo pacific region i think the lesson of the last few years show us we do not have sufficient industrial production capacity yet from a national security perspective that we have to increase that in the foregoing descendent to the idea that were going to provide significant capability and support to others in addition to our significant needs we're going to need to generate more capacity whether we do that ourselves with their own industries increasing their level of investment to create more production capacity were allies and friends the five guys like australia kingdom et cetera i think it will be accommodation will be one single thing. >> i know halloween is your birthday let me wish you a happy birthday that was a whirlwind tour of questions i had for you, thank you for getting all of

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jack: despite the bumpy road the s&p 500 up more than 20% this year can the rally continue with looming uncertainty about the election, the economy and the geopolitical risks we just talk about. baron's is out with the big money pool, the survey of america's biggest money managers. baron's senior writer joins us now. what are they telling us? >> we had 110 money managers

saying that they are still largely bullish on the prospect for stocks more than half expecting very strong returns and they're very excited about the economy as well. they think the economy continues to boom along and inflation pressures they receive but interestingly they are still worried inflation could rebound next year because the fed cutting rates and the expectation of stimulus as well that's one of the reasons we are surging in inflation and some big concern. >> i feel like there often bullish, what do they say that surprising it sounds like rebounded inflation is one of the surprising things we see inflation coming down, then not buying it or they don't think it'll stick. >> and think they're more concerned that a come back and that's obviously problematic but what's more surprising when you look at what are the questions that we asked what are your clients saying, they are more bearish than the money managers in the pros, 70% said they were neutral on stocks which is

lukewarm and you would expect people to be more bullish when they look at their portfolio and say stocks are near record i am doing pretty well but people seem to be more nervous. >> it why listen to the money manager or the clients. you wrote recently about bond yields rising even though the fed is cutting rates what do you think that means for markets, the economy of the election. >> long-term bond yields are rising which could be a concern which is one of the key barometers for housing mortgage rates obviously track the tenure. i think there is a sense that maybe inflation pressures have not completely receded and also a worry that regardless of who wins the election whether donald trump are kamala harris we will probably get more fiscal stimulus at a time where the fed is easing maybe that pushes inflation higher and bond yields go up as a result. >> speaking of the tenure what i find interesting to put this

into context is the timing of this bike that we've seen almost to the day of the fight cutting rates, that's really when we saw the shift. on september 17 we saw the tenure at 3.6% in our up to 4.2%. >> that makes a ton of sense, since then the fed surprise with the half-point rate cut and they releasing the data since then whether jobs data, retail sales that's been stronger than expected inflation hotter than expected i think that's why yields are going up i don't think it has to do with politics. >> the big money people to say they're most worried about tesla and nvidia tesla coming off of the big week are the money managers right to be concerned. >> this made me scratch my head, there is two very different places, tesla always thinks it's overvalued in trade to 80 times 2025 earnings. it had its growth challenges this year and is the lower declining growth anytime multiple that looks overvalued, we have written you can credibly

value the car business and energy storage at $200 it is 270, all by an overvalued argument. with nvidia i think people look at the gains and say they can't be real nvidia trade to 30 times earnings it's not 80s it's going to grow earnings at 30% a year it actually is not that cheap people see it creeping up on apple's market evaluation saying i cannot believe this but from a perspective nvidia does not look that expensive. >> over look at the ten cheapest stocks in the s&p 500 based on price-to-earnings ratios this is not going to be a buy list all of these are ugly that's why they're on the list but if you bought last year's ten you would've beaten the market by more than ten points and a couple of the stocks doubled i want predictions now tell me a stock from the list that you think is going to be a big performer in the year ahead. >> i think if you twisted my arm. >> i will twist. >> on going to go with gm i

think things are cheap for a reason i would not use pe as my primary filter for stock selection if you're going to make me i want to see a stock that sees price outperformance versus s&p 500 and we see that with ge and gm and we see earnings growing the last couple of quarters maybe it can keep that up but that's what we see in the last couple quarters. >> the thing about gm were no best friends because you pick car stocks is become a financial engineering not a car story they're buying back stock, they spent $16 billion buying back stock, shares outstanding have gone 1.3 billion early next year and they will be sub 1 billion when you put that much capital back to investors it is going to show up and result. jack: do i understand your taken walgreens? >> it is a hated stock right now it got booted out of the dow earlier this year in favor of

amazon. it still on the s&p 500 but is one of the lower market value stocks in the index, could get thrown out of there, i don't know, that would be pretty bad. i'm thinking that walgreens is making the painful but necessary steps with the new ceo tim wentworth that came along in october of last year. they are cutting in closing where the thousands stores. >> drugstores are turning into spirit halloween, thank you all. al and ben have a pair of investment ideas in the skinny on hopes for obesity drugs, stay righ at ameriprise financial our advice is personalized based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice... i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to

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about viking therapeutics, it jumped 21% and the day and i gathered has something to do with the obesity meds. >> here is the skinny on this. eli lily, watch out, viking therapeutics is here a huge properly good this week when analysts are getting really excited about one up of eli lilly it has a triple regiment that they're working on. viking said hold on we have a quadruple regimen than the oral pill, shot. they're going to four blades. the one upping, they are innovated in the space. >> you said they're going to a pill. >> there is a pill and a monthly shot instead of the weekly shot in the works this can help with the weight loss magnitude according to william blair this will up the ante and more weight. >> what does it mean for lillian novo. >> i was interested in the clip eli lilly only down 2% clearly they are the 800-pound gorilla in the space not too concerned

about the competition but the field is widening. >> enough for everyone to make money. >> i'm looking for a stock pick you say you like schneider and i love pretzels but were not talking about the pretzels. >> of honeywell and even trades about 26 times 115% i been doing very well good momentum and like j.p. morgan puts it the simplest cleanest best way to play a.i. electrification in all the trends. snyder electric. electric cars and electric lawnmowers. >> data centers. schneider electric, make somebody rich with the great stock picked. >> nobody was richer than j.p. morgan and i'm looking at j.p. chase the stock had fantastic earnings ten days ago and hasn't done much since the initial blue the whole sector looks like it's going to break out, j.p. morgan looks like it's going to lead at

the good to great time to look at banks in general j.p. morgan specifically. great ideas and thank to read more checkout appearance.com. that's all for us, see you next week >> from the fox studio in new york city this is "maria bartiromo wall s