adam parker, thanks. let's go to christina now, who has more on the big moves today in the chip space. >> autonomous driving company mobileye having its worst day since 22. down 25% right now. expects eight 35% drop in revenue because of excessive customer inventory issues. the cut weighing on intel since intel is a majority shareholder of mobile lie. the effect is really hitting otto's mis. allover 3% or more. this is the first negative preannouncement from a chip company in 2024, and could be isolated to mobileye or set the tone for auto expose names ahead of upcoming earnings. shares of microchip are about 1% lower right now, citing weak auto and industrial markets. separately, the biden administration announcing microchip is the second recipient of the chips act funding. it is going to receive about $162 million to help expand and organize equipment and increase production of mature chips used in auto, industrial, and defense industries. >> christina, thank you. we will see you in just a minute. just

a >>> 3:00 eastern, hope you'll join me on "closing bell" with adam parker, nicole webb will join usexchange. anthony scaramucci on, as well. so we'll talk about crypto trading moving forward, whether it's a sell on the news, as that was the best performing class asset last year. so josh, final trade. >> alphabet. i think it's going back to $150. >> sirat? >> delta. going back to the airlines, they have the best pricing. >> franko-nevada. had a big tumble due to a mine in panama. we think it comes back. >> home depot. i like the housing theme for 2024. >> so dow is still negative. we'll see what progresses. i'll see you on "closing bell." "the exchange" is now. welcome to "the exchange." i'm kelly evans. here's what's ahead this hour. stocks are struggling to ascend yesterday's gains, but the ten-year yield is back above 4%. the market's early stumble has some rethinking their playbooks, and consumer electronics show cex is underway. the ceo making a keynote speech last night, a position bill gates has held for 12 years. he joins us live from

let's welcome him in, adam parker. founder and ceo of tri variant research and a cnbc contributor as you can see. headliner, how about that? i know you have gotten more positive but risk reward is now better than it was even with the big rally towards the end of the year. why? >> we were positive, too. it went more than i thought. but i think the positive to me comes down to three things. one, the average company has a good chance their margins expand and stocks work when gross margins expand. i don't think the fed will cut six or seven times between now and january 25th. it won't skew positive. >> you think if they do cut that many times it is because they have to. >> yeah, yeah. i don't like that view of good news is bad for stocks. that makes no sense beyond one day. good news will be good for stocks. i think there is reasonable chance that earnings grow for several years in a row. we are in that process now. looks a little expensive 20 times forward or 19 times forward to get 10% off. might look a little more attra

adam parker will be here. amy cong, so a great time to get her views on mega cap tech and the markets. also, we have an article on krfx nbc pro. tell us what we should check out. >> yeah. thanks, scott. it's about what sectors of the market might pickup. health care, financials, industrials, if the tech trade doesn't keep working. >> cnbc.com/pro is where you'll find it. shannon, final trade. >> small caps. you get capitalization diversi diversification, but it's a very different mix than the s&p 500. >> josh brown? >> i'm not in this trade, but netflix held its 50-day beautifully on the tech pullback. i think she wants over 500 this year. >> thinking about getting into that trade? >> we'll see, judge, we'll see. >> sounds like a yes. >> farmer jim? >> qualcomm. a lot of ai applications on the phone will have to be done on the phone. that plays to qualcomm's chips. >> waste connection. it's not a cyclical business. >> thank you. i'll see you on "closing bell." "the exchange" is now. ♪ ♪ >> thank you very much,

adam parker makes the case, look, i'm still bullish. the bull story is intact it doesn't matter how many time the fed cuts or when they start, they're going to be cutting and that's bullish so there's no reason not to be bullish. >> right and maybe we just pause until we get more of earnings you can't make a conclusionive decision at this point in time we rally 9% from october lows and we did see a broadening out. waller's comment was we're almost as good as it gets. that's pretty good gdp is running 2, 2.5% the consumer is hanging in there for now. i go back to the costco number and american express today announcing u.s. loan growth of 16%, the consumer is hanging in, that's a big piece of the economy. the savings rate is up and mo market is at $6 trillion as we gain that confidence about what the fed is going to do, i do not think the fed is going in mark they don't need to i still think the market can grind higher because of what i said about all that money on the sidelines. >> see what the other inflation reports are before now and

let's ask adam parker, founder and ceo of trevor research. also a cnbc contributor. adam, you've been leaning in this direction. there has actually been a slightly longer way for a break towards a new high. considering a month ago we got to 1%. we have been chopping around and digesting at least on the big cap level. we are there. what message do you take from it? >> i don't know. you are in new york, it's snowing. i have hundreds of dollars. got to in california with the good weather. >> hanging out with billionaires. >> yeah. what's what i'm trying to. do glass half empty, have. will the path towards bullish news continues to be the. same the average company growth margin cavities and chance of expanding. i think the earnings can grow this, year grow again next year at least as far as the eye could. see i think the fed, as long things don't collapsible, skew towards being accommodated in a way that helps multiples. i think what you just pointed out is good news. it is good for the economy, good for stocks. i like that equation. i never want to believe good news is g

adam parker has made the case model times on this very program that this will be the year that margins hold up, and margins do well. that is why he has turned probably a little more bullish than he was a handful of months ago. gentlemen, thank you so much. i love it. thank you so much, everybody. we will see all of you soon. let's send it to christina now for a look at the biggest names moving into the close. >> let's start with dr horton. those shares are dropping. keep in mind that at the beginning of that particular quarter, 30 year mortgages in the united states where around 8% as a two decade high. the company promised to reduce home prices and increase incentives to encourage sales, yet the stock is down 9%. from price cuts to price hikes, doctor and gamble shares a higher after the consumer staples stocks saw net sales rise a percent as revenue is boosted by price hikes. the company also narratives full-year outlook for its adjusted eps, and you can see shares are above 4% higher. >> will be back to you shortly. we are just getting started. up next, your netflix set up. the stre

research ceo adam parker joins us now a rare appearance not with us, and we miss you.lking earnings with mike and it's something we've discussed often times. i'm curious, my recollection is you are not particularly sanguine for earnings growth in 2024 is that still the case and if not, why not? >> we're using a few percent growth you have a good memory we think the earnings will grow. we actually raised our numbers by 5% from a year ago. almost all of that was driven by the biggest 20 or so companies which has shown an incredible ability to expand their net income the reason i'm positive, i think the skew on equities is positive, is three fold. one, i do think the average company can have gross margin expansion and i think that usually is associated with equities going up. two, i think there's a reasonable case to be made that there will be some accommodation from the fed and/or other big central banks later this year. and i don't know if i've learned that much in the last 30 years, but i think one of things i've learned is don't fight that. the third thing, maybe earn

in obama administration and knows higher education, you have no mayors, brandon johnson, adams, the new woman parker out of philadelphia. all of these cities have a similar problem and they could band together and they need to. why i asked the question about abbott. do you understand what abbott is going through? he said he did. >> bill: i would point a lot of viewers to the "new york times" piece how the democrats are putting pressure on the white house during an election year. they write about. increased the likelihood mr. biden and lawmakers to approve concessions that would have seemed improbable a few years ago. that's where the argument is going now. >> dana: we could see more on that next week as the budget fight heats up. we'll keep you posted on that. >> bill: in the meantime we have a 6th grade student killed and five others injured happened yesterday on our program here in the state of iowa. a gunman opened fire at a high school northwest of des moines. police have identified the chart as a 17-year-old student at per eave high school saying he was found dead with a self-inflicted wound. g

parker or something like that. i want economic, people who live n low neighborhoods to improve their homes. i don't hear that stuff from mayor adamse came in with that mandate and never fulfilled it. he seems to want to be all things to all people. >> judge jeanine: to the criminals? there is only one side here. >> he is afraid of his progressive left. all he has been thinking about since he took that seat next election. he went up to albany to get reforms done. they punted him back to new york city. one of the things that's gone on here. he hasn't managed to develop allies where he needs them. in the represent respective legislators. they keep hammering the police. he doesn't seem to have the ability to try to leverage that as a result. he gets no help. but he doesn't realize new york city mayor is the tail that can wag the new york state. >> judge jeanine: without a doubt. let's move to d.c. where shoplift something out of control. look at. this posted on the window of store front irving street. shoplifters unite it says. take everything that's not nailed down. five below next door to where that flier is posted now closes early

parker or something like that. i want economic people in lower neighborhoods to be able to improve their homes. i don't hear that kind of stuff from mayor adamsndate and he has never fulfilled it. he wants to be all things to all people. he doesn't want to pick a side. spew into the criminals? >> isn't afraid of progressive left and all he has been thing about is the next election and try to get these criminal justice reforms done. they punted him to new york city. one of the things that has gone on here he hasn't managed to develop allies where he needs them and respective legislatures. he has no friends and none in the city council. they keep hammering the police. he doesn't seem to have the ability to try to leverage that. as a result, he gets no help. but he doesn't realize, new york city mayor is detailed and correct the dog of new york state. >> jeanine: let's move to d.c. where shoplifting is out of control. take a look at this. >> posted on the window a vacant storefront on urban street, shoplifters ignite, it says. take everything that is not nailed down five below posted and closes her lip 5:00. january 14th, they are shutting down