we have bob pisani with more. >> frank, the reflation trade is back.economy with earnings still strong, but inflation sticky creates a tricky narrative for investors. this is a tough environment for small-cap stocks and reits and utilities. higher rates are bad for reits. it is bad for utilities because when rates rise, treasury bonds are more attractive due to higher yields and higher rates mean increased borrowing costs for yo utilities. if utilities cannot pass on the higher costs, the equity investors have to suffer. some sectors may do well in the environment. the keys to the economy has to stay strong to prop up earnings. reflation trade means a focus on cyclical stocks, include energy, material and hospitality stocks. energy and material stocks have been rising due to higher oil in a still strong economy. other beneficiaries of higher rates are defensive stocks. i'm talking about kroger or walmart. another group that might do well is insurance stocks. life insurance companies, for example, take the premiums they get from customers and invest in

bob pisani joins us next. unlocking th e power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab. >> university of maryland global campus is a school for real life, one that values the successes you've already achieved. earn up to 90 undergraduate credits for relevant experience and get the support you need from your first day to graduation day and beyond. what will your next success be? investment professionals know the importance of keeping their clients on track. sometimes they need help cutting through the noise, to ensure fresh investment ideas keep flowing, and to analyze the market from every angle. at allspring, we deliver the unexpected, by relentlessly exploring where others don't. allspring, follow the insight. >>> we are back. let's get to bob pisani now. >> there is int

backed rubrik is set to debut tomorrow and investor interest appears to be higher than expected bob pisani set where the debut takes place here tomorrow >> how high we don't know. but it's high. data security firm rubrik pricing tonight seeking to raise 23 million shares, that's 28 to $31, that's a big ipo. this is an interesting test of demand for tech companies and high growth but are also unprofitable rubrik reported a loss of $354 million in fiscal 2024, that ended january 31st of this year but rubrik is one of many companies floating in the next couple of weeks tomorrow marex floating 15 million shares, 18 to $21 at the nasdaq, another 300 million. and friday loar holdings is floating 11 million shares 24 to 26 that's another 275 million but wait there's more. viking holdings, you know them, they're going to float 44 million shares at 21 to 25 do the math on this, that's a billion dollar ipo right there you put all of this together we should be raising roughly $4.5 billion in the month of april. this is one of the biggest months for ipos in many years. the ipo business is in the midst

returns our guest sees for these names may make you a buyer, but we begin with today's markets and bob pisani at the new york stock exchange. hey, bob. >> hello, tyler. we are essentially at the highs for the day and it's been a good day, two to one advancing to declining stocks and yields are stable and that's a big help to the markets and let's take a look at the major indices and the s&p 500 a fairly narrow trading range and just at the highs of the day and the dow industrials with a 200-point trading range and the high point was right at the open and we had a mid-morning slump and we recovered. same with the nasdaq, started positive and went negative and now we see up 0.6%. the important movers to watch are the semiconductors and see if we're getting a bounce and that's exactly what's happening and nvidia was $900 six trading sessions ago and the horrible close on friday and you see the move here to the upside. taiwan semi was down several days in a row here after poor guidance last week and it was 147 or so and now it's 128, but recovering. texas instruments, micron also on the upside. d

the ceo will join us exclusively ahead, but we begin with today's market and bob pisani at the new york stock exchange. bob? >> hello, jon. good to see you. we have been chopping around in a fairly narrow range and the trend is up and certainly since the pc report and the s&p 500 and the trend's been up here we're trying to get to the 200-day moving average and we're at 5114 now, slowly, but surely. a lot of strength in boeing, that's great news. apple. caterpillar's been strong. goldman sachs has been strong and that's at a 52-week high and a number of big movers nasdaq, the big-cap tech is mixed and let's take a look at the mid-cap tech stock and meta and alphabet is down 2% and amazon will close tomorrow and it is up fractionally here global industrials have been having a great little run in the last couple of days and that's good to see. boeing, let's get out of this month and one of the worst month ever and boeing was near a two-year low just a couple of days ago and it's been trending upward recently? i mentioned caterpillar was 330 at the open on thursday. remember the gdp report

gold hitting another fresh all-time high today, and let's get to bob pisani with today's eft edge. >> one of the star performers this year, up 13% to a historic high, and outperforming stocks and bonds. let's talk to one of the world's great gold experts, and he's at state street global advisers, and he helped to launch the spider 20 years ago. i covered that one. we go back a long way. good to see you. why is gold hitting a new high? >> a bunch of reasons. never just one thing. we have decent jewelry demand, and china's market is recovering and we are looking for a rebound there, and investment demand is coming back and it's in bars and coins and efts. >> two biggest consumers, and central banks are buying it? >> yep. >> are young people buying gold? i keep getting asked all the time, here in the united states, do they have interest or it's an old ifkind of thing. >> millennials have much more enthusiasm for gold and own more gold. >> why? what is the enthusiasm based on? >> the benefits of the diversification, and it can help to enhance returns and all the time it's going to be redu

bob pisani, always good to see you. thank you. >>> an idaho teenager accused of planning to kill church goers in the name of the islamic state is in court this afternoon. fbi sources heard 18-year-old alexandria scott, they say he was planning on attacking church services during sunday services, using weapons, including knives, firearms and fire. during the arrest, police found an isis flag, butane canisters, a knife, a pipe and a machete, all at his house. nbc's ryan reilly is following this for us. what more can you tell us about this? >> counter extremism expert i spoke with today described this as a low hanging fruit case. this is a case that involved numerous fbi confidential sources. the flag the fbi seized from the home is one of the sources gifted to this individual. this individual when he was still a minor was a believer in white supremacy. you're allowed to support domestic terrorist organizations if they're not designated as foreign terrorist organizations. but those designated terrorist organizations, you c

. >> thank you very much, bob pisani we had a quick change to the program here we unfortunately have somehow misplaced or lost kenny the jet. this is a nine-person draft. time now for the sixth pick in the first round. we go back to the podium for nieve shulman, host of catphish new season airing less than a week from today. the market fish, that's the team name what do you select >> i'm very excited to choose boot barn for my pick. >> oh. and why? you like their boots >> i'll tell you why with climate change a major factor, inclement weather is on the rise we're going to need boots. you know, companies come and go. trends come and go but feet and hard work are here to stay. >> simple reasoning. we need boots. we need boots. >> he's wearing a fashionable pair of sneakers today >> maybe he's telling us something. fair weather is coming here, maybe. tim, your thoughts on boot barn? how much time have you spent researching boot barn? >> i don't want to get into this because the bottom line is it's been a lot it's also clear there's a lot of people from california moving to texas. maybe

. >> bob pisani with this one.fast money," sold shares, 200,000 shares for about $5 million so, he's been selling. >> yeah, that -- that bothers me the promotional nature of the marketing of this fund bothers me and the return profile of what you could get. what bothers me also is the stakes of the underlying companies are something you have to be very careful of. that an spd might own a piece of one of these private companies, and again, are there fees in that, and what's the real ownership of that? i just -- one of the things i brought up that night, i think it's what bob was saying, stru structuralally, this just doesn't make sense there's no way you can have a match of liquidity in private companies like this in a public vehicle. and it leaves you a closed-end fund there's an ocean preexpression,e these are roach motels >> i think people have to understand that a closed-end fund is not a liquid instrument. it's more lack of understanding what this -- what is this. and if he sold stock, it's a bad look it's -- i

let's bring in bob pisani and talk about one name in particular. >> i want to talk about the companies because it's been up and down here. what carl is referring to trump media and technology down 8% yesterday, down a little bit today. lowest level since going public. went public march 26th, opened at $78. do the math here, little more than 50% off the high in the first day of trading. volumes have dropped dramatically. the first two or three days of trading were big, $77 million, $30 million or so, now it's down to 5, 6, 7 million shares a day here. elsewhere, reddit dropped 3% to 46, sitting near its lows level since going public on march 21st. is this a successful chart? >> yes. it's above where it went public at 34, but if you were a retail investor, almost everybody is below where they were. everybody who got in. this is what value of technical analysis is. above the initial price. anyone who bought it is just break even at best. let's call that a mix one here. gamestop, the mother of all meme stocks we've been talking about this for a while dropped below $11. this is a long chart

let's get to bob pisani. don't have to get to him, he's right here.ouch him. >> feel so good when you can touch me. >> we've been here 30 years together. >> enough of that. the market? >> the narrative is getting more complex. let me explain why here, obviously the good news is the economy is strong and earnings are strong. that's why we're not down even more. but if you look at what else is going on you have the sticky inflation so that makes this narrative more complex. this is bad news for small caps, speculative tech, reits and utilities but good caps, but good news for the inflation trade. small caps down much more than midcaps and big caps. borrowing costs are higher. higher risks are small caps. all of this is perfectly understandable. big cap tech, not down as much as you might think because of the earnings power that's out there. apple, microsoft, this is all 1%, half a percent, and nvidia is up today. what gets hit is speculative technology, which obviously have higher costs associated with them. here's kathy woods' stuff, teledoc. you see d

to bob pisani with more on what's moving on the etf side of things. bob?t these job numbers are so strong and this is what motivates the stock market and we are seeing one of the best advance-decline lines i have seen in years. the s&p ad line has been up since november essentially, and is hitting new highs. this is a sign of a broad market move. i want to show you the leadership this year. it's not technology, in fact. it is some stuff that people don't pay a lot of attention to. it's energy first and foremost. great move up here throughout the year, and all sectors of the energy market have been moving. communication services are up. the biggest names like meta and disney and netflix are powering that particular sector, but overall it's strong. financials are bifurcated. insurance companies have been great because of pricing. credit card companies are great because consumer spending is strong. amex, visa, mastercard strong. some of the banks are up, not all of them. jpmorgan is having a great year up about 15% and citigroup is strong. industrial, every d

bob pisani is here. we were talking about orderly declines versus disorderly declines.f you -- >> in the old days it was fast with a lot of volume. art cashin used to tell me he would hear the teletype machines increasing, the sounds on the floor physically used to increase. we don't have them down here anymore, folks. what are you going to do? this is about rates going up, sticky inflation, the fact that the economy is still strong. the economy is strong is not a bad thing. you can see the effect when you have higher rates on rate-sensitive sectors it like technology stocks, semiconductor stocks. a lot of big names are down 2, 3, 4%. semiconductors in general getting hit the most. they're the most interest-rate sensitive. you've heard bertha talk about health care. no need to belabor that. united health, major component of the dow industrials. that is a component of the decline independent of the the rate concerns and sticky inflation issues. when you get higher rates, you have home builders, used to be the real estate reporter a million years ago. not surprisingly you

let's get to bob pisani. >> look, we got middle east concerns mixing with sticky inflation, and that'smplicated stew for investors. what we have today is a bit of a relief rally. all 11 sectors, up. four to one, advancing to declining stocks. i want to show you some of the moving sectors. goldman is the leader on the s&p 500 right now, up about 5%. but you see here the reflation trade, again, doing well here. what's that? well, they tend to be cyclical stocks, material stocks outperforming, doing well. freeport and mark marietta, up strong. industrials like caterpillar, up strong. retail strong on the report. the auto names are strong like advanced auto parts. tech is lagging with apple down a little bit. interest rate sensitive. a higher-rate environment, that's been messing around with the sectors this year. reits, generally, higher rates, not great for reits overall because reits rely on debt financing. rising rates increase the borrowing costs. not surprisingly, that is lower this year and underperforming. and utilities, generally, rapid rise is not good for them either because the