bob pisani joining me now. the dow has gone positive.tly negative. microsoft is lower, meta is lower, apple and alphabet though turning green. >> it is a fairly broad rally. i just want to show you people like to believe scott's trade on individual merits but this is momentum driven. look at what palo alto networks has been doing to the cybersecurity sector. the big names here, they are up 25% most of these cybersecurit . when they are down like this, it just takes out the entire sector. cloud flare as well. there are a bunch of these out there. look at that, down 7% today because it's 25% palo alto and a zscaler. >> palo alto in the stocks that have turned to the green, palo alto is down almost $105, more than 28%. is this impinging on nvidia? >> what is impinging on nvidia is whether or not they can show their trading for roughly what they are showing now. take a look. i just want to put up the smh. you want to see how big these stocks have become. this is the biggest semiconductor, the one everyone talks about. nvidia is 25% of this r

bob pisani shows us more. >> we are at the halfway mark for fourth quarter earnings and there is goodod news is fourth quarter earnings so far are up 8% over the same period the year before. that is twice the estimate of a month ago. here is more good news. 880% of the companies reporting are beating estimates so far. that is average. here is the bad news. earnings dprgrowth is concentra in technology and communication services which is driven by strong earnings from meta and microsoft and amazon and expect strong earnings from nvidia. others are not faring well. energy stocks with lower demand for oil from china and plentiful global supplies which is weighing on the price of oil and also weighing on oil company earnings. ou outside of the magnificent seven, aggregate are contracting. back to you, frank. >> for more on that and the trading day ahead, let's bring in david katz at matrix. david, great to see you. >> good morning. >> bob was spelling out that a lot of the earnings growth is coming from the mega cap tech companies. is that concerning for you? >> it is not. the market gene

our bob pisani has more. >> reporter: how much should we worry about concentration risk after a briefmagnificent seven stocks hit new highs. they comprise 30% of the s&p 500. the top ten stocks are about 33% of the s&p 500 think about that ten stocks making up 33% of the s&p 500. that's unusual, but not unprecedented. during the 1950s and 1960s, it was not unusual for the top ten to make up 30% or more in the market cap in the 1950s, the companies like ibm or polaroid or xerox jumped to 40% of the s&p 500. it jumped to 30% at the end of the 1990s in the dot-com bust. other countries like china and france and germany have far higher concentrations in the top ten names than the united states here is the bottom line. concentration is a characteristic of market cap weighted index like the s&p 500. why? these indexes reward the winners and penalize the losers. the magnificent seven are the big winners. this concentration has been a boon to investors. investors who own the s&p 500 don't have to pick those winners. they go along for the ride second, u.s. stocks are global market leaders and

bob pisani.s in etf. >>> still to come exclusive results of our cnbc retail survey. this is a good one on the consumer. >>> a new note calling china iphone demand fears overblown and that apple is looking at a super bowl moment when it comes to ai. the analyst behind the call, wedbush's dan ivess joins us next to explain. back in two. (grunting) at morgan stanley, old school hard work meets bold new thinking. (laughter) at 88 years old, we still see the world with the wonder of new eyes, helping you discover untapped possibilities and relentlessly working with you to make them real. old school grit. new world ideas. morgan stanley. you always got your mind on the green. not you. you! your business bank account with quickbooks money now earns 5% apy. (♪♪) that's how you business differently. intuit quickbooks. (♪♪) it's inspiring to work at a place where our patients succeed. and where we as therapists do, too. with great benefits from principal, our clinic shows they truly care about us. (♪♪) >>>

let's go to bob pisani who has today's eft edge. >> and then strong tech earnings, ongoing ai story responsiblet of the gains in the indexes this year, and let's talk to the man, the ceo of vonek, and you run a $13 billion market cap weighted, and most of the gains are five stocks, nvidia, taiwan semi, broadcom, and it's a narrow rally even in siemiconductors. can you explain this? >> there are 25 stocks in smh, and they all have huge competitive advantages, because they are the winner, and tnsc, the winner in fab construction. actually we use morning star ratings and 9 of the twao25 have highest rating in the competitive advantage. these are the winners in the space, and they really have -- you need tens of billions to compete with any of these. >> it's a high competitive advantage. i know you have 25 stocks. have of them are down this year. big names like intel, texas instruments, they are all down with your index up 10%. here's the big winners, but i want to concentrate on the losers. half of them are down at this point? >> sure. it's a short time period. what i like to say is since we reall

he's in miami with bob pisani, pops on our "closing bell" show, and i asked him what all of this means for the prospects of a may cut. here is what he said. >> there's enough data coming out between now and then, but it's probably going to be june, if it happens at all. our inflation model is such that absent a spike in oil, which had every reason to spike, with ukraine, the red sea and all of that, and it hasn't. if it stays where it is, then we think inflation on the cpi will relax and this will be something of a blip particularly on the headline number and go down to 2.5%. >> so that's gundlach saying it could be a blip. he used that word on top of rosengren. goolsbee, don't judge a trend by one month's number, jenny. >> i think that goes back to what i was saying before, an overreaction because people are looking for an excuse. the interesting thing is, your point about what if we just get there, take a breath and go on -- or maybe jim made the point -- move on from there instead of waking up every day and worrying about it. i think that's the way the market is programmed this year

. >>> we're back to bob pisani. >> reporter:after huge inflows in short-term treasury and money market funds, 2024 is seeing some change in investor sentiment towards bonds in general. so what's in and what's out in bond investing let's talk to the man who knows all the answers to that. the schwab asset management head of innovation and stewardship. schwab is the fifth largest provider with over $300 billion in assets. thank you for joining us we were at the etf conference, talking about this in miami beach. 2023, all about short-term treasuries, money market funds things are changing in 2024. what's hot now and where should investors be positioning themselves for their bond portfolio? >> what we're seeing is positioning the intermediate part of the curve. you talked about short term. ultra short bond etfs took in big flows last year. january of this year the first month we've seen outflows. >> inflows right now in intermediate terms is, what, three to five years? >> three to five years, going out as long as ten years in some cases. >> what is seeing outflows right now? tips was really

let's turn to bob pisani the closing high on the nasdaq is 16,057.44 we were just there, but it's movingnch as we head to final three minutes here. so we're going to see if we ca do that, but we did get ne highs today for the s&p. by the way, the dow was just u 500, so we are going out with bang today >> it's a great rally, not a even rally eight stocks advancing, five declining. equal weight s&ps up over 1% s&p itself up 2% but it's really all about tech just look at what the semis ar doing today. the whole semi conductor is up >> yes, nvidia is getting al the play >> but amd, broadcom six, micron is up 5% and applied materials is strong these are among the bigges names in the s&p 500 so when you've got all those stocks up almost double digit, that's going to move the s&p 500 forward here on top of that you've got ne highs on amex, for example, an visa, the card companies hav been doing spectacular recently you also have new highs in som of these other big names, some of the big software names that are out there. intuit, service now, oracle also doing really well here magnificent 7 etf,

. >>> let's get to miami for bob bo pisani's eft edge. >> 2,000 descendies are behind me. and what is not? the round hill magnificent 7 father. what could be two or three four hot trends? >> bitcoin out of the gate we had nine issuers and $10 billion in 30 days. not bad at all. ai is also very -- >> artificial intelligence. >> artificial intelligence is really storming. also when we talk about the mag 7, you have to be there, and at the same time how do you plan against the ball of volatility as well? that's what we are talking about. >> how do you pick ai etfs, but how you use ai to run your business, to run the business of being a financial adviser? >> onstage they are talking about how advisers can set up your own podcast and how do you customize content to different clients' as well, and it's good to be able to increase the size of your business and connect with your clients more specifically. >> dave, you have the hot eft mag 7 launched a year ago, and you are raking in money right now. 6 of the 7 reported earnings so far. what is next for the group? >> a lot of atten

let's bring in bob pisani here on what this means for the ipo market as a whole. is the watershed moment that people were anticipating that a company that's been on ice for the better part of two years now finally decides to dip its toes into the public markets? >> yeah. i'm excited for the ipo market in 2024 because the stock market is very supportive of a strong ipo market i'm also excited about ai, and its potential impact on the ipo market not excite cited about reddit. strong market helps ipos a lot the crop of ipos in the last since 2024, have really improved dramatically in the last few weeks as the s&p has moved up. look at the names, smith douglas, amer sports started off rocky and stabilized american health care brightspring a good start and the ipo etf is flat on the year down 8% a couple weeks ago the reason i'm not terribly excited about reddit the valuation problem. the company is old founded in 2005, filed paper in 2021 originally they were talking about valuations of about $15 billion back in 2021 today, well, we don't know, but the valuations are

bob pisani is watching the internals and other stories we have going on. >> the important thing is wee dow transports and industrials 37 haven't seen that in a little while here. we showed you that mystery chart. that's uber. uber is going into the dow transports today. the important thing about what's going on today, it's the first time we had a change of the transports since december 7, 2021. that's when old dominion replaced kansas city southern. unlike the dow industrials, the dow jones transports are not hitting historic highs. the transports hit historic highs in november 2021. it's almost 7% below that high. under dow theory, the transports should confirm a new high in the dow industrials. the theory is that if you're shipping more, which is what the transports represent, it's a positive sign. so there is some question whether shipping activity is a good indicator when two-thirds of the economy is services. uber is a funny add to the transports in general because it's not really a shipping company. avis is in transports and it's just a ground transportation company like uber. t

bob pisani at post 9 watching an interesting day. >> it's fun to see the hype might actually match thehis noo highs we're seeing is largely because of the tech sector. look at the major movers in the technology area. important thing about nvidia, it's number three on the s&p 500. it's mbehind microsoft and apple new highs on the big semiconductor stocks i have also noted, besides this, there is interesting momentum in insurance names. it's not the only things moving. there are stocks that move up to the upside g's been on the tear since the start of the year. we have seen huge moves up in insurance like hartford with excellent results. this has important implications for berkshire, reporting on saturday big component is on the insurance and not just geico they own a lot of different companies in the insurance space. of course, they're buying back stock on top of that keep an eye on the insurance names. we've seen move in waste management, for example, the little engine that keeps going up every single day. there are sectors of the market outside of technology doing well i want to focus

it would seem as though -- and i don't want to be parroting bob pisani, but thshis should be a great to the people who run the firms, saying the same thing. they all want to get back to me. "let me get back to you on that." >> is it a shallower market than it appears >> i think it's the 5% solution. it's so great. the lovey blanket that just keeps giving that jay gives us david, 5%. i mean, when you call, like, i speak to my wife, what do we do that money lisa, give them 5% >> we talked about b of a yesterday, and she does see five as the tipping point where if it falls below, some money does start to move. >> that would be terrific. and our world would be amazing but remember, the first month of the year really wasn't all that bad, especially the last day but i just think that david's right. there's just so much money on the sidelines, and it's not as enticing -- the market is not enticing i think. this is a market that likes tesla and bitcoin. >> this is a market. >> that's what people -- the younger people, you talk to them >> doesn't like tesla. it's lost a quarter of its market

seems to be paying off for them it's the first proof point that this whole revolution that we've bob pisaniai seems to be positively impacting the return on investment for advertisers will that just continue to accelerate as well >> as best we can tell this is a brave new world. i mean, this is, you know, an environment that we haven't seen before these guys are leaning into it and making it work it's interesting it's meta and not google, right. google is all about the technology, but meta is really kind of using it better and part of that is their business model. yeah, i mean, it seems that this can continue, and it seems like this is a rocket that's worth riding so we stick with our buy rating and raised our price target and think you can own meta here. >> yeah. some people talk to me about a $27 share number for 2025. a, do you think that's a possibility? and let's get to multiple. what is a multiple here for a company whose stock has always traded at a lower multiple than might have been expected given its growth rate? >> yeah. look, i mean, i would have to look at my cell file to give