equity portfolio barry knapp. both men will join us on set at the top of the hours. on the agenda today, at 8:30 eastern, february's empire state survey. then at 9:00, december tic data which tracks corporate bonds and equities into and out of the united states. and now or later, housing comes into focus with this month's national association of home builders survey. today kicks off a busy week for economic data. tomorrow, we're going to get the ppi, housing starts and minutes from the last fed meetings. thursday comes cpi and lending indicators. and friday, existing home sales. as for earnings central, watch for reports today from coca-cola, medtronic, more weejance cruise lines and others. then this afternoon, we're going to hear from companies like herbalife. ahead of all that activity, let's take a look. it's a mixed bag, plus or minus the flat line either way. >> scott, it is a short week, but it is a busy one. europe's activist is reportedly in advanced talks to acquire forest laboratories. forest value the it up to $25 billion. that stock is up about 18%. and

we are here once again with barry knapp, chief equity strategist at barclays. at the market value of publicly traded internet company, $19 billion does not seem like that much. value pere market user various companies have done. barry, what you think about tech valuations? really valuations are difficult because they look cheap in aggregate, but the reason they are cheap is it is industriale tech. companies trade at low-volume rations. we are overweight tech, but when being overweight tech, the reason is we think there will be a strong capital spending cycle. we are talking enterprise tech, software, services. 75% of the business sector. these companies -- i have no idea what to do with these companies. it reminds me of the 1990's where people started talking metrics. new valuation i could not in all good conscience tell people what to do with these stocks. >> do not worry, half of those year.pay $.99 a >> in your job as a strategist if you have to pick tech as an overweight, do you then have the ability to tell a client, stay away from these guys? several abso

we are joined by barry knapp. expecting to see the s&p and year at 1900, four percent higher than it stands today. when you look at the markets, dow down three percent for the year and say this is a buying opportunity? >> not quite. is a lot ofnk there risk. what we thought would occur in the first part of the year and what we have seen so far this year is when you reach the inflection points where the fed is no longer easing, you do not have to consider it tightening butno longer easing, typically you have gotten about an eight percent pullback in the market. ultimately it will resume the of trend. we think we are a long ways away from a recession. would be much more comfortable biting the markets in 1700 and then by yang at 1815 or 1820. that would present a rail opportunity. would notk ago monday have been bad either. we think it will be a struggle through the first part of the year. a lot of this has to do with the fact that we had a big whenvement in earnings earnings growth was zero. up to about nine percent

wall street, we are still looking at above 1900 for the year and going into the year, people like barry knapprd from yesterday at barclays, he had predicted you might see a correction like this. and then the second half of the year you might have some gain. of everybody,ead calling for adjustment. we knew the fed would taper, we kind of started to have a feeling when it would be. now they are doing it. it takes people time to adjust to the fact they are pulling away the kool-aid. which is healthy. >> it is a process. it is interesting to see economists have not revised their growth forecasts. people think the economy will continue to grow, a positive story domestically, and not the contagion in the emerging market so that we will see the winners from the losers distinguishing themselves. we can see that in the stock market. that's the same story playing out, maybe this year will and on the upside but you will really start to see the distinction between the stocks that don't have the support to justify the price, like what we saw in 3-d printing today. >> cory johnson is joining us from san fr

joining us is barry knapp at barclays in new york. trying to remember where he is on these markets.ank in chicago. and i would say, ablin, you were a guest host on "squawk box" do you think it was 18 years ago, 15 years ago? you've been around. >> when i just started out. >> you've had a long association with the show. and we look forward to hearing you coming up. barry, last year you kind of got bearish a little too soon. i don't know. did you come back in by the end of the year to catch the last six months? where were you and where do you stand now? >> we thought that what would happen if growth surprised on the up side is it became clear the middle of the year that it would do, that the fed would react to it and that would slow the advance. on september 19th, a day after they took a pass on tapering, we bumped or price target by a couple hundred points and figured the market would race. >> you switched. you did. unfortunately, only time republicans quote cains. where are you right now? >> we're the at 1900 for the year. and the general trajectory we expected was that period of ad

equity portfolio barry knapp. both men will join us on set at the top of the hours. today, at 8:30 eastern, february's empire state survey. then at 9:00, december tic data which tracks corporate bonds and equities into and out of the united states. and now or later, housing comes into focus with this month's national association of home builders survey. today kicks off a busy week for economic data. tomorrow, we're going to get the ppi, housing starts and minutes from the last fed meetings. thursday comes cpi

. >> it's like barry knapp. is it knapp or knapp? >> what do you have in your ears? air conditioning. >>> deal reached in ukraine. details just ahead. >>> and kevin plank joins scott wapner live to talk about high-tech speed skating and that suit that is generating so much controversy. now they signed a new deal with the speed skating team. they should hire that netherland coach and bring him over here. maybe that's the deal. i'm beth... and i'm michelle. and we own the paper cottage. it's a stationery and gifts store. anything we purchase for the paper cottage goes on our ink card. so you can manage your business expenses and access them online instantly with the game changing app from ink. we didn't get into business to spend time managing receipts, that's why we have ink. we like being in business because we like being creative, we like interacting with people. so you have time to focus on the things you love. ink from chase. so you can. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. ye