to make the united states, the conference drawing in some big names from the digital currency world including vivek ramaswamy, cathie wood, mike and not to mention charles payne he will be live from the conference fee churches unit and also don't forget to catch maria this sunday morning on the fox news channel 10:00 a.m. eastern time life for "sunday morning futures" shows exclusive interviews with treasury secretary scott bessent national security advisor michael waltz epa administrator lee zeldin and virginia governor glenn youngkin that will do on fox business. thank you for joining and have a great weekend. >> "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 andy and for jack otter who is in australia. coming up invested in america president trump is pushing his energy agenda. ahead we will look at the opportunities to make money but we begin with the expert panel and three things investors think about right now. on the "barron's roundtable" my colleagues and you very, teresa rivas and jacob sonenshine. the week ended with more than a whimper the market fell off a cliff, what happened. >> in the last few hours but very much in the last few hours on friday the market did touch a new record high this week but it could not hang on it look like it was flatlining and selling into the close. the s&p 500 at 22 times forward earnings is extremely rich for the environment we are in and

its pricing a lot of optimism about earnings growth across the market and low interest rates that leaves it with the risk that it has to pricing in your risk of tariffs, inflation and maybe the fed cannot cut rates so you had selling. andy: your take andrew. >> and think you saw signs of weakness in the economy come out on friday and not rattle people when you see weakness in housing and a number of homes available in some areas including texas and florida and some of the homebuilding stocks have been week that may be a tell about housing. >> unh got hit with an investigation report walmart and another stock under pressure. >> walmart the quarter was fine there was growth there is a growth in the guidance teresa will get to it but the guidance was disappointing and the stock like the market was a little bit hot and that's what were dealing with. >> teresa what about walmart and brought into consumer which is

the underpinning of the u.s. economy in the market at large. >> as jacob said nothing terrible about the quarter just sales guidance peter rountree - 4% not what the market was looking for they wanted to hear 4% or higher and as you say consumer spending is a huge part of the economy as a bellwether like walmart is being cautious that's not what people want to hear when there is uncertainty about tariffs, trade in today on friday we got more news from the university of michigan that consumer sentiment is souring and all five levels that they checked were down and it was not what the market wanted to hear after walmart. >> alcoholic. >> is pretty richly priced and 35 times this year's earnings is five or 6%. it used to be 35 times earning at ten or 15% not at five. i think there may be reevaluation of walmart that may happen if they don't see much acceleration in growth this y

year. andy: that is priced with perfection, are there any stocks in the retail sector that might be appealing. >> it's not all doom and gloom and in the long-term i'm not that worried about walmart, walmart is fantastic in recent years and they did great during the recession in 2008. another retailer that had a great few years that did find during their session is tjx the good report next week. they cannot send a little cautious, i'm not could be that worried there for the great position. >> is super great franchise. >> i would not step but there i missed that story seems like some of the stuff in the stores in t.j. maxx and marshall's i don't understand why people bother to go in there. it's been a huge success 100 plus billion market value i missed that. >> i bothering you bother because the caramel has popcorn. >> andrews been on the record that he likes paying full price for everything. speaking of a price for everything you are a gold bug.

>> gold has many detractors including berkshire hathaway warren buffett but it's having another good year 2025 up over 10% to nearly $3000 an ounce one factor driving it is central bank buying russia and china, that's been a positive factor. a new wildcard that came out in the last week or so which is a potential reevaluation of u.s. gold reserves much of which held in fort knox the u.s. has the most cultivating country about 260 million ounces of gold that's been carried in 1970s evaluation of $42 an ounce it's revalued to market the $750 billion that could be something if they could do something with it. another area interested in gold are the gold-mining stocks they have been big loggers in the past year like newmont industry leader treated in the mid 40s has not really change much at

all in the last couple of years. >> there are all these stories like lawmakers going to fort knox and sending the gold over from europe to the united states. it is a hot area we will see if that will continue to go up but it's a big game this year already. >> gold is having a good year and the doubters are being wrong so far on gold. we will see what happens. the mining stocks have also been an area people might want to take a look at they have lagged badly and they of the gdx which is the etf or the mining stocks in newmont which is 13 times earnings and canadian producer in the class of the industry like nikola eagle. we will leave it with nikola eagle. fed officials raising concerns over trump's tariffs warning they could drive inflation even higher grade peters on how to navigate the market and where he is investing now.

i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management.

andy: the federal reserve weighing the impact of trump's growing list of tariffs and immigration reform were needed to push prices higher saying it is a key reason and kept interest rates unchanged at last month's meeting. how can investors navigate to fixed income landscape in 2025 joining me now fixed income coast cio greg peters, nice to see you. you talk about rates being normalized now and that meaning the bond market is back to a place where it has been historically, what you mean by that exactly. >> we are finally out of the very low interest-rate environment, yields are much

higher today and i think that's great from an investment standpoint because you're getting the income in the door. when rates were at 0 the prospect was quite bleak but today over 4% across the treasury curve and i think that's quite attractive. more importantly and you saw today in the price action there is scope for fixed income to rally in a balanced portfolio and when there is concerns around the economy and concerns about fragility fixed income has that quality that really asserts itself and you saw in the daylight today. >> since a great financial crisis people were saying with the low rates, 60 - 40 ratio, throw that out are you saying is back into play that should be what people are looking to have a portfolio. >> i think so very much. i'm not sure 60 - 40 is the right balance i think that the

nebulous concept but nonetheless fixed income is for a balanced portfolio and once again when rates were at 0 it was hard to make an argument that fixed income would have the protective quality. today we are in a different regime we are and what a normal regime looks like where yields are higher and you get the income in the door and there is scope for yields to move lower if the economy rolls over you get that benefit. >> two key questions for a bond guy like yourself what is your take on rates in your take on inflation. >> all take inflation first, it feeds the rates. inflation is very sticky at these levels. everywhere i look i see higher inflation, lower inflation and i think a lot of the policies being put forth our inflationary not disinflation area. the bond market is assessing that out.

i think were in a different inflation regime today than pre-covid and i don't see that changing anytime soon. consequently bond yields will remain on the higher side. i think that is okay and were looking for a wide range around the tenure wider than normal given the uncertainty. either way i see rates at these levels place or minus call it 50 basis points or so for some time and if i'm wrong around that i think i'll be wrong more around the economy rolling over and feeling the rate rally which is a benefit. the real money question of course what is the best way for retail investors to play the bond market right now. >> i think safety matters a lot if you look at credit spreads they are very, very tight it is reflective of the economy itself which has been in good shape and

receiving fragility but credit is tight but i like duration and treasury and those types of assets because i think it provides investor exactly what they need in this environment which is a little yield in a little protection. i think that is great if you hold equity and other risk assets. andy: a quick last one, i think you were suggesting overseas, bond yields look appealing right now. >> they do, what we've seen is the delinking of the global bond markets. it's been very much a bond market of one tied to the physical dominance where interest rates have moved and i think rid of very different environment today we have different growth rates and inflation type of regimes. yes we see more value outside of the u.s. in a balanced way today than we have in quite some time as well. the barn market i daresay more exciting today than it has been

sometime and is a global story not just the u.s. story. andy: exciting story, thank you very much greg peters. unleashing american energy, the trip administration is embracing fossil fuels pushing to bring energy production back to the u.s. we will take a look at the hurdles and opportunities investors can expect. stay right here take your business from launch to legendary with shopify. sell more with the world's best converting checkout. turn analytics into opportunities so you can scale further faster. take your business to a whole new level. switch to shopify. start your free trial today.

andy: president trump is pushing full speed ahead with the american energy agenda will be to fast-track hundreds of fossil fuel projects but it is not smooth sailing for the administration some companies are pushing back it is a barron's cover story written by avi. a big picture here there is a

lot going on this is the centerpiece of the trump administration but it's a huge industry with all nuance and facets. what does it say when washington tries to get in the energy business. a big picture. >> there is a knee-jerk reaction that investors have where they think the administration is in favor of all of the fossil fuels. we will bid up the stocks. it makes sense but it doesn't necessarily pan out that way in the long-term, we saw this with the first trump administration people had the same sentiment but the stocks did not perform as people were hoping. it is not just one political party versus the other, you can remember for the body to administration all of the administration green policy got people very excited about the stocks but they really did not pan out either. in general i think we need to be cautious especially looking at long-term making decisions based on what's coming out of washington watch the markets not the politicians. andrew i don't know if you agree with that but natural gas is been a great area for investors.

>> natural gas is a hot area of energy, using growing demand for u.s. natural gas from power-hungry data centers as well from rising exports and liquefied natural gas natural gas prices are up 40% so far this year to over $4 per thousand cubic feet that is contrast with oil jews unchanged at $70 a barrel. investors are looking to play the gas boom in this country and companies like eq which is one of the largest natural gas producers and the leader and lng export one stock worth a mention is bp which is formally british petroleum is being targeted by elliott which is one of the biggest activist investor firms and elliott sees the company that has begged its peers and made bad decisions on removal projects and trades cheaply right now and has a 5% dividend yield, one interesting thing about bp most of the best assets

in the united states. arguably the outer rename the company ap for american petroleum. api get it that's the trend. it's interesting when you're talking to your point about washington getting into the business and having encouraging drilling not all the companies want that because it pushes prices down and that is good for consumers but not so great for the companies. as i said a big huge industry. let's go nuclear. go nuke on us and tell us what's going on in opposite. >> i will point out uranium stocks that fuels the power data centers at power eight a i you might think it looks good but he pointed out the ones i haven't done much summary down the last year, the price of uranium what way up and way down for a while and it came into this year down a little bit. now it's starting to stabilize because the reality if supply cannot expand forever but demand still has to come this year,

demand that has not mater materialized. at some point the price of uranium is going to stabilize and some of the stocks will do really well. >> were talking about the nuclear renaissance in the refurbishing plans at 3-mile island project that microsoft is invested in their building a lot of nuclear power plants around the world in russia and china for instance but there's still work to be done. >> you for stocks, camco, uranium these are not household names and encore energy. >> you know about some of the stuff. >> the biggest play on the whole nuclear power boom has been constellation energy which is the largest fleet of nuclear power plants and the hottest utility stock, you've out of the companies that do well like bistro in the uranium area if you want to play itself there's a broad etf a canadian company that basically holds uranium in warehouses called yellowcake and it's a lot uranium is a

potential interesting play if you like the nuclear story. it's an etf? >> the trades in the united states but is based in canada. >> an etf that close, let's switch over to renewables they are very much on the table. what is your take their. >> absolutely unknown nuclear make some people nervous. but you know what does not make people nervous is the son demand for solar and again, my former employee, company like first solar sold off after the election and i think that was too much of a knee-jerk reaction, there is demand and the stock looks pretty cheap today traded at eight times this year's earnings expectation and i think it it's example of the baby getting thrown out with the bathwater again. >> of course waterpower that is out there too, wind power that's been controversial, the president does not seem to be keen on wind power, what is up with that.

>> that's absolutely true i do want to give the impression that all renewables have the same profile and wind has been out-of-favor for some while, when we look at the administration we do have to take into consideration their thoughts about the renewables but i don't think we should throw them all out, who knows maybe wind will be in favor as some point. >> offshore wind has been the big problem there's been a lot of projects being canceled off the east coast in the atlantic but i think onshore wind with relatively good economic and berkshire hathaway is what are the biggest players as well as next year energy. andy: the whales and the turbines it is a big mass at this point. thank you guys. teresa and andrew have a pair of investment ideas and jacob says looming tariffs are making the stuff for the auto industry. stay there and stand by. car, this isn't the way home. that's right james, it isn't. car, where are we going?

we're here. (♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you james. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com pronamel clinical enamel strength can help us to keep our enamel for a lifetime. it's backed by science it is clinically proven to strengthen our teeth. i would recommend this toothpaste to everybody. it's really an amazing product. (♪) enjoy your risk-free trial. ♪ hello, can you hear me? i sure can! ♪ everybody hear me? i sure can! ♪ do you hear me? i sure can! ♪ so, can you hear well? i sure can! hear well, feel well, from your first appointment. try our new nearly invisible solution risk-free.

call 1-800-234-7090 now. [sofi mnemonic] can a personal loan unlock your ambitions? oh yeah. borrow up to a hundred thousand dollars to consolidate bad debt and save money for your next goal. take a swing at your kitchen reno... meant that literally. or design your actual dream wedding. consolidate bad debt and fund all your ambitions with a sofi personal loan. go to sofi.com to view your rate. sofi. get your money right.

for the professional (lightning strikes) it's not enough to possess knowledge. we seek to refine it. (click and explode) (engine roaring) to wield its power. (echoy voice says "two... one") to redefine its boundaries. (burst of electricity) (sierra ev noise) knowledge is put to the test in every gmc sierra. what we choose to know, we know completely. we are professional grade. (♪) at enterprise mobility, we never stop looking for new mobility solutions. because sometimes the best road forward, is the one you didn't expect. (♪)

andy: let's go around the table for investing ideas starting with you jacob, the auto industry. >> is a big dip you can buy gm, ford and tesla down easily double digits because of tariffs, 25% tariffs you're importing cars it's not every car that they import but this could hurt demand, the reality when i look at specifically gm they have been executing really well they grew 10% sales and they took market share and you're looking at a stock previous trading on earnings walking world: plaintiff will then i'll get you to. it's a typo. >> the lewis pe and the entire s&p 500, and the entire universe it could be. tariffs or complicate it.

the earnings get knocked lower the stock is not great but is a comedy that is taking market share. we are going to go to teresa she wants to talk about a stock that reminds me of a classic carol king album. >> tapestry of course. it was october when they merger with capri was killed and like tapestry is out there living the best life, they had fantastic earnings last week and earlier this week they said they were selling the shoe brand to focus on the remaining portfolio, that is really smart luxury has been a tough space recently but coach has been killing it. when you think about the bags you probably don't think about star quarterback setting the trend but i will say the eagles dealing hurts brought the coach back to the super bowl and now it is sold. i miss that, andrew, media, cable term. comcast was the leading cable and broadband company and nbc in the universal theme parks the stock has been under pressure is traded around 36 in near a

multiyear low it looks pretty inexpensive around eight times earnings at a 3% dividend yield and you could approach her on the company to break up in the coming years. it could have potential catalyst even in activists in the stock. >> the media, the locks in an auto stock great stuff. andrew, teresa, jacob great ideas, thank you very much to read more checkup this edition at barron's.com and don't forget to follow us on x at barron's online for the latest barron's updates, that is all jack will be back next week on "barron's roundtable". ♪ -(theme music playing) -♪ bad boys -♪ whatcha want, whatcha want ♪ ♪ whatcha gonna do ♪ when the sheriff john brown come for you? ♪ -officer: you better stop... -♪ bad boys, bad boys