brent schutte is market strategist with bmo private bank. you know, there's so much chaos going on. a lot of gloom. and yet you are optimistic in what numbers you're able to look at. > >sure i think the u.s. economy is getting better. and i think it has the chance to get quite a bit better. if you look at the global economy, it's actually strengthening. and the global economy has been a headwind for the past couple of years. the jp morgan global pmi index is at a 27 month high. you look at things like the baltic freight index---more freights circulating. and so i actually think that the economy is getting quite a bit better. and the thing with the u.s. is that actually credit is starting to circulate now, which has been the missing ingredient from the fed pumping all the money in the system. it's now actually appearing as if it's starting to circulate. > >so who's looking for that credit? small businesses typically? > >small businesses. you also have people---individuals looking for credit. a mortgage company---i believe it was ellie may---actually did a survey and they showed that

monuments in this city...this one...is thmost published the 'lady bmo cis em stands outside the city's courthouse..... but tonight, for the first time in almost two- hundred years, the 25-hundred pound lady is standing no more..... crews moved in just after sunrise.....to rescue a valued piece of t ialore's past. bittersweet moment...." for 190- years.....lady baltimore statute has stood tall....in baltimore's courthouse square...... but the the eight-foot tall marble statute which honors tho who lost their lives in the battle of baltimore.....has been sing her battle with motr nature. (10:56:00) otarba) "its a tricri between the two court buildings and there's a lot of pollujtants and exhaust fumes and that does damage over time. we have a lot of humidity too..." more than a ye ago.....the city began preparing to reloce the iconic sculpture..and reace er with ali wsud the structure's style.....and began recreating it.... (11:07:45) (tatti) "we took a clay material and we built out the missing form to give the statute enough profile that it would read as a wholde statute..." nu ir morn

bmo has an out perform rating and a $67 price target on their shares.can see session highs for monster beverage. >> dom, thanks. health and human services secretary kathleen sebelius facing a lot of heat over the obama care glitches. what should she be doing right now? is the middle class the new poor? star of cnbc's "the profit" ceo of camping world, great to see him back on "power lunch." we'll get his take on all of that when we come back. jackie: there are plenty of things i prefer to do on my own. but when it comes to investing, i just think it's better to work with someone. someone you feel you can really partner with. unfortunately, i've found that some brokerage firms don't always encourage that kind of relationship. that's why i stopped working at the old brokerage, and started working for charles schwab. avo: what kind of financial consultant are you looking for? talk to us today. [ bagpipes and drums playing over ] [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious

he's chief investment officer at bmo private bank. nice to see you. >> thank you, suzy. >>> what if things get dicey on wall street and we see sell offs, are you telling invest tors to sit tight? >> yeah, it's really sort of a decision if you believe that the government will ultimately default on obligations you probably don't want to own anything including risk assets, but on the other hand if you think they will ultimately kind of work their way through this, and there is somehow light at the end of this tunnel, then probably holding risk assets like equities probably make sense through here. >> jack, reaching for yield these days has been a dicey prospect because as we all know, the higher the yield, the greater the risk and in a low interest rate environment, where do you go to find the income? . >> you're absolutely right. it's pushing up inflation and for those savers looking for yield in here and so there are a couple ways we found some yield, one is through bank loans, through an exchange traded fund with a ticker symbol bkln.

so bmo capital markets had very positive comments about this stock and it is a winner today, liz.k you, lauren. david: well the market wasn't a winner today. we heard a lot of activity in the s&p pits. let's go back there to the cme and larry shover. larry, i hear a lot of shouting even though the market just closed there. >> as the present morass continues to persist the dips are shallow and brief. the longer we march along the path without a deal the ground will become unstable and very volatile. what is impact? gdp, delay of tapering or lastly we could see a rotation into other areas of the world and out of the u.s. for no other reason than we can not get our act together. it will be fun to watch as a trader. very nerve-wracking for investors at home. david: a lot of traders are cash heavy looking for dips like that. so you know at a split second these guys could come back in and buy up bargains or perceived bargains. larry shover, from the pitts of the cme. liz: this is amazing to me. twitter hasn't become public, has more time to ipo and has noise from investors looking for t

i think it's at an inflection point, but to your point, wal-mart, bmo raised the target.na and baird buy from hold. j.p. morgan sees the catalyst coming soon. and target 590 was 550. and target 535 was 550. rb c590 was 550. these are small incremental increases. nobody says a $1,000 stock because they were be using the word takeoff. stuart: yeah, but they got burned with $1,000 predictions not long ago. charles: burned is the understatement. stuart: is the president telling the truth about obamacare? what if he's not? the judge is ready to weigh in on this very big deal and he's next. ♪ you made me promises, promises♪ ♪ [ male announcer ] it is more than just a new car... more than a new interior lighting system. ♪ it is more than a hot stone massage. and more than your favorite scent infused into the cabin. it is a completely new era of innovation. and the highest expression of mercedes-benz. introducing the 2014 s-class. the best or nothing. see who does good work and compare costs. it doesn't usually work that way with health care. but with unitedhealthcare, i get info

thanks very much, indeed, for that from bmo capital markets. >>> now, texas instruments third quarter on slightly lower sales and a higher tax benefit last year. ti is projecting revenues below analyst forecasts. the company struggled against lackluster demand in recent quarters. it's shifting away from mobile chips to embedded processes. which are used in cars and industrial equipment as well as analog chips. shares down nearly 3% in after hour. >>> shares in chip designer armor also lower today in london despite better than expected third quarter earnings. they bostoned a nearly 20% jump in pretax profits earlier. the rise in lower cost phones presents a huge growth opportunity. >> there's a big mix of technologies that go into a smartphone, even in a low end smartphone. there's opportunity for many components. and we see generally that growth of lower end and entry level phones not just in developed cups, but in developing countries. >> in fact, maybe those words having some impact as the stock has bounced back, as you can see. it's now up 7 pounds, 1046. that's the ceo of arm. >>>

joining us right now is chief investment officer at bmo private bank.y is martin sass who is the ceo and portfolio manager of md sass. you actually think the market is fairly valued at this point. why is that? >> yeah, i think it's fairly valued based on the huge liquidity we have, $1 trillion injection from the fed every year. and positive momentum. you know, if you were to just strip that away for a minute and look at valuation, we're only growing earnings and revenues at around 2% right now. and i do think that the market could drop, say, 10% or so once we get back to kind of the basic fundamentals. but for now, you know, riding this liquidity and riding the momentum is not a bad place to be. >> that's not necessarily how you see things, is it? >> well, i think we're in a secular bull market that's going to last for several more years but i do think it's going to get interrupted by corrections. and one of the triggers of looking at, you know, what could go wrong because we've talked about what can go right is in march, there's two events that are lik

it's bmo -- no, he will join us next to talk about the quarter first on cnbc. >> there is -- >> no. >no. ♪ norfolk southern what's your function? ♪ hooking up the country helping business run ♪ ♪ build! we're investing big to keep our country in the lead. ♪ load! we keep moving to deliver what you need. and that means growth, lots of cargo going all around the globe. cars and parts, fuel and steel, peas and rice, hey that's nice! ♪ norfolk southern what's your function? ♪ ♪ helping this big country move ahead as one ♪ ♪ norfolk southern how's that function? ♪ [ bagpipes and drums playing over ] [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you open an account. >>> ubs reported improved third quarter profits earlier today, although the shares have been down on news of a probe by authorities over the possible manipulation of foreign exchange markets. in addition, regulators are requiring the bank to hold more capital in anticipation of further unk

. >> john morris joining us from bmo capital markets. >> what a day yesterday.al from washington but with no actual deal on the table, how do you position yourself now heading into the weekend? the answer on that next. >> and the former ge ceo jack welch sounded off on "squawk box" this morning. >> i wouldn't let the republicans market an ipad when it first came out. they can't market anything. i mean, they come out of the white house and make a statement that's nothing and then harry comes out and takes the stage for a while, he talks about all the bad things they did. i mean, it's crazy. we got the worst marketing in the republican party you can imagine. >> this brings us to this morning's squawk on the tweet. what product would you want congress to market? tweet us. we'll have your responses throughout the morning. howard schultz is coming up. mine was earned orbiting the moon in 1971. afghanistan in 2009. on the u.s.s. saratoga in 1982. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation because it offe