we are about to talk esg but esg has been a core part of their strategy, hasn't it?n lately. they expect it to be more in the future they have $100 billion of esg assets that's a tail wind, as are bond etfs, increasingly, of course, important in a world where there is higher interest rates and folks are looking for fixed income you be institution. although some would say the etfs who hold the bond funds are similar to bonds so they expect the see that as a key driver as well. >> thanks, leslie. we are going to move now to kristina partsinevelos and the new esg investing and why doing good is not always linked to doing well explain, please, kristina partsinevelos. >> well, socially responsible investing is synonymous with high quality management and improved returns all while doing good that's driving a surge of money into esg funds over the past three years but study after study shows esg investing may not be linked to improved performance. a review found, quote, the financial performance of esg investing has been indistinguishable from conventional investing, yet ma

is there another leg up for esg that has been overlooked?stalk] reporter: i certainly think biodiversity is a huge theme. the issue we will be looking more at this the question of investment engagement. there is a notion that investing doesn't fix the problem, it pushes it in someone else's hands. it has to be engagement. but they need to be more specific around what engagement is for them. we have seen all kinds of examples. they want to get a sense of what is going on before they make an investment decision. tom: hortense, just to get your views on this. how do you see that playing out across the funds that morningstar monitors? guest: this is a fascinating debate, investor engagement. the reality is it is extremely complex. the movement will continue with engagement with companies and governments to push for change, to push for better esg practices , and invest in companies when it comes to climate change. but also, what we are seeing is more investors are concerned that those bigger emitters, that is very hard to transition and change th

impacts it can climb the esg ladder. >> meta actually marks trance parent sy as a top risk to tackleosure on it it's all about the environment and waste and emissions. >> meta's fall from grace highlight it is complexity of the scoring systems and how one number may not paint the full picture, tyler. >> what would it take for some of these funds to kick a meta or another similar company out? >> it all has to do with their own methodology. every fund has a subjective methodology. they kicked out facebook saying it had to do with the governance score and misinformation which we talked about and less so of meta's high environmental score so you have some funds that include facebook because maybe they put more value on the environment versus other funds that may not include facebook because they're more concerned about workers who work at meta. >> all right thank you very much. >>> after the break, tesla, the stock higher today and down 20% from the highs the next guest says you should buy this dip more when "power lunch" returns. our past for power, we can harness the energy of the tiny

we were talking about the esg side you found an esg door back into oil. also could see some guidance or rule looking at how funds are named. >> but also, kevin, and it's a bit offeringy, but i think it's important. first off, there's a lot of reasons, not all of it political. these company want to get smarter e. make investors money, but that said, way deep under the scenes, there is a movement to basically prevent wall street firms and banks from lending money to have new foss the fuel projects, effectively starve them of capital, so if many wanted to do it, but had to borrow money, they can't there is an unnatural d.c. angle to why oil prices could go to 100. it takes money going into the ground to get oil and goes out to be sure, we're not just talking about a return of capital for investors. that is happens, for issue, but cost of capital concerns are for real the climate activist strategy has long been to drive of that cost of capital, and if at all possible with the regulatory issue, drive it down form. >> kevin, always appreciate your clear view th

over 1,000 pier reviewed esg studies found that, quote, the financial performance of esg investing hasn indistinguishable from conventional investing often because they mimic industries >> such a vague, broad term that you can shovel whatever you want into it and call it esg, charge higher fees. >> the 20 largest esg funds are largely allocated to information technology and that's the trend. with alphabet, the parent of google, the most commonly held stock in 12 of the 20 largest funds. highly cancen traited risk in one sector of the economy, making fund concentration one of the key drivers behind the recent short term outper formance of the esg fund and yet fed managers can charge more for the esg title. >> you're paying 20 extra bucks per year on $20,000 investment relative to if you invested in a fund that was esgin agnostic. >> and investors can prepare for the funds to probably follow suit david. >> so interesting. you're ending aowning alphabet and paying more for it >> that's exact lee what it is >> it's funny. i wonder if amazon figures into that people forget what large carbon

literally baskets of stocks that have little to do with esg.ide of these most of them actually have oil companies. they're full of big tech, right? they're just neatly packaged together. priced up -- charles: so it's a lie? >> yes, basically yes. charles: if you think you're doing something good because you bought the universal esg fund you're polluting the planet like everyone else. let me ask you about the material sector. it has been impressive particularly the past week. you see really nice pops. what is driving this move and what are some of the names you like? >> in general commodities are doing fantastic right now. so you have got the infrastructure package but beyond that you know, we have this whole renewable movement. so all these projects such as batteries, charging stations, solar panels, wind turbines all require exorbitant amount of law material and energy. the race is on right now, especially in the industrial mining sector. so some top names that i'm looking at right now are cleveland cliffs, vail, piedmont lithium, pll. if you

>> investors who don't look at esg do so at their own peril.ve seen what can happen if companies don't manage these risks. at the same time even if it goes mainstream, there is still a role to play for esg specialists. they can dig deep into these issues because even if analysts take into account some of this work is nitty-gritty and you have to dig deep. those companies are not always reporting these issues adequately. you need to do your own homework basically. this is not -- we can act on that proactively. there could be a slight reduction in terms of mainstream and impact. impact is all about achieving certain outcomes while for most investors it's about generating high financial return. shery: doing your own homework comes a lot more difficult when you are a small company. how do you mitigate that? >> it's more about corporate access. every year, we discussed these issues with companies. around 170 companies we discussed these issues in company meetings. as the one thing. the second is it depends on how you do your research. we have chosen

esg under before -- underperformed the s&p 500 by 2.8%. i could give further examples if time permitted. let me conclude with a few simple questions. how woke is elon musk, currently the world's most prominent capitalist, who certainly has more followers on twitter than larry fink last i checked? not very woke. and finally, how woke is china? how woke is russia? in that sense, i don't think woke capitalism will live for terribly much longer because it will very quickly be identified by the public as an existential threat to a free society to a democracy like the united states. thank you very much indeed. [applause] hannah: so, we have about 10 minutes for the discussion between our team's analyst -- panelists. niall, i'll start with you. woke capitalism looks like what people fled in europe when they searched for a better life. in today's america, the media are joining forces for the so-called public good while perpetuating and strengthening their oligarchical control. can you comment on this ironic parallel? prof. ferguson: the good news

who's responsible for building esg into your investments?t pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> netflix announcing last hour it will raise prices in the u.s. and canada hi, julia. >> netflix spends more on content raising prices in the u.s. and canada. hiking the prices by between $1 and $2 the most popular standard netflix plan is going from $14 to $15.50. basic plan is a dollar more expensive at $10 and premium goes to $20. netflix saying quote we understand people have more entertainment choices than ever and we're committed to delivering better experience for members and offering a wide variety of quality entertainment options. analyst michael nathanson saying he expected this hike and drive growth in the u.s. and canada

esg is responsible investing. who's responsible for building esg into your investments?rsuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. [copy machine printing] ♪ ♪ who would've thought printing... could lead to growing trees. ♪ >>> netflix is on deck to report earnings tomorrow. one options trader is betting something could be interesting in story tony zang, about to see you. what's the story >> netflix traded 1.3 times the average daily volume today the market is currently implying about a 7.5% move, versus 6.2 over the last few quarters one is trading them by team january march $500 straddle swap to break down this trade, they sold 725 contracts of the january -- for about $40, and then of the march straddles for about $66. the employed volatility difference is 106% for the front

esg is responsible investing. who's responsible for building esg into your investments?, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. generally there's a pretty big gap between how parents approach the money conversation and how teenagers are ready to absorb the money conversation. ♪♪ i am daniel dibiasio, managing director, morgan stanley wealth management. a great way to start with a high schooler is to start with something simple and achievable, yet dynamic. could be making a purchase, like a pair of sneakers or a sweater. saving to have a few dollars for a future purchase. or how much money do you think you spent this week? and starting with some actual facts. so it's an exercise i think to be engaged together with your children, rather than giving out like a homework

who's responsible for building esg into your investments?rsuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. l >>> all right. doc, unusual activity. what do you got? >> well, let's start off with some energy, scott, because oil is at a seven-year high. that means some of the other energy providers are also going to be in huge demand, like cameco ccj. obviously uranium and so forth a big 23,000-lot print in the march 24 calls hits with the stock at 2140. so i jumped back into cameco, ccj. i will probably ride this for the next two months. next one, biocrest, bcrs somebody bought 5,000 of the february 13 calls. that's an in-the-money call, scott, because the stock is trading 1470 so i jumped on those as well >> all right hey, i want to call your attention to

esg, environmentaland sustainable governments.ses like —— in general but also aviva. nobody actually knows what the standard is and how you police it. if you end up that awful word, green washing, as you say, trying to make yourself socially acceptable. they are not in oil company anymore, they are all energy management companies so that people will forget, they hope, that by the time they get to carbon neutral in the future.— in the future. we're doing best. in the future. we're doing best- if— in the future. we're doing best. if we _ in the future. we're doing best. if we think - in the future. we're doing best. if we think about, . in the future. we're doing i best. if we think about, how things have changed in recent years. you and i have been around for quite a while and there has been constant conversation about sustainability, ethical investment but following cop26 investment but following cop26 in particular, there was a huge input from financial services there to say we are going to get serious with companies now, that we

who's responsible for building esg into your investments? on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. (doorbell ringing) (bustling office sounds) - [announcer] eggzilaration, when the cheesiest guilty pleasure breakfast sandwich starts your day on just the right note. on time, lowest price, or we'll make it right. (chicka-chicka) grubhub. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable nationwide network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers.

oil stocks are leading the market whatever happened to esg investing. >>> plus, amc you later.y gone. is there any reason to own this stock again? we'll talk about it coming up. >> announcer: get your trades to go with the "fast money" podcast. catch us any time, anywhere. dcti a today on your favorite poasngpp we're back right after this. well, would you look at that? jerry, you gotta see this. seen it. trust me, after 15 walks... gets a little old. i really should be retired by now. wish i'd invested when i had the chance... to the moon! ugh. unbelievable. a jelly bean that's good for you? nature's bounty introduces new jelly bean vitamins. good-for-you nutrients in a tastier for you form. more sweet dreams. more flavorful immune support. new nature's bounty jelly beans. live bountifully. new nature's bounty jelly beans. ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. >>> welcome back to "fast m

visit indeed.com/hire esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. my name is douglas. i'm a writer/director and i'm still working. in the kind of work that i do, you are surrounded by people who are all younger than you. i had to get help somewhere along the line to stay competitive. i discovered prevagen. i started taking it and after a period of time, my memory improved. it was a game-changer for me. prevagen. healthier brain. better life. >> the department store kohl's once again in the crosshairs of an activist investor, the same activist who waged a campaign against the company. they're once again calling for big changes at kohl's. jon

who's responsible for building esg into your investments?the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> all right. pete, teased unusual activity. you're up. what do you see today? >> got some good stuff i will tell you this, scott. what we've seen recently starting yesterday in the late morning, an starting out today as well, everything short term people are not looking out far as well. in these two unusuals, both expire on friday, january 14th i will start off with amd. we have a buyer of 10,000 of the amb135 calls they started paying $2 they paid up to about $2.50 for these. the problem right now is the stock was $1.33 when this hit. i'm looking and the stock made a nice move to the upside. i think it was last trading around 1.37. this is

plus, one of hong kong's few esg focused family offices tells us how they are building long-term wealth through sustainable investment. this is bloomberg. ♪ >> the situation that our business leaders are facing which is a large amount of uncertainty. >> our lives are centered on recovery. >> before the end of this year, we will get to a better place. >> the fed is going to begin to raise rates. >> it's going to be a constant trade-off between whether the market believes that the fed and other central banks have really got this gumption to raise rates aggressively enough. >> the u.s. china situation does create real challenges for any country to find a pathway. >> we see ups and downs because of temporary micro issues. long-term, we will be fine. >> this year should be better than 2021 and 2020. >> industry leaders discussing their outlook for 2022. let's turn to u.s. bank earnings with morgan stanley and of america rounding out what has been a mixed season. morgan stanley is raising its profitability targets for the longer-term while stock trading revenues surprised with 13% jump. long

is this the year that we get clarity on what esg is?re are rules but nobody quite knows what they are. when does that start to stabilize, this year, or do we have to wait? adena: that is a big point of our piece that we published. we really do need global regulatory frameworks that we can operate under when it comes to transparency around esg. how do you define carbon output? we can only manage what we measure. if we come up more common measurements that companies can provide to investors, and that regulators can say, these are the key measurements we need to be focused on in order to meet the net zero obligations, commitments have been made, the path has been set, and it is making sure we have the transparency investors can rely on. we have an organized way for corporate's to manage their way through this through a common framework globally. this is a global problem so it requires global collaboration. guy: we hear you. adena friedman, nasdaq president and ceo. fan of the mandel lori and -- the mandalorian. this is bloomberg. ♪ guy: 33

esg is divided into a and opportunity.risks, we are looking at investments that do no harm and so do not invest in alcohol or others. the other is the opportunities. you are building on esg risk but you are also actively looking at areas that you can improve for example the carbon footprint. and on the extreme right, you have impact investing. you look for impact as well as financial returns at the time of making an investment and actively managing that. sometimes, two targets during your ownership. that is the difference. we are measuring impact. these are essentially the differences between the various parts of the spectrum. haslinda: we are looking at a higher rate environment. would that impact investments? vidya: a higher rate environment? i did not hear that. haslinda: we are looking at a higher rate environment. all central banks are looking at that right now. will that affect the investment momentum? vidya: there is going to be a market correction. this is going back to the global macro conditions. definitely, ther

esg is responsible investing. who's responsible for building esg into your investments?pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> 30 minutes left to go in the session. another ugly one for stocks, especially in technology let's hit the market movers. shores of kohl's higher after activist investor pushes for a change at the company saying kohl's isn't doing enough to improve the business and push comes months after kohl's reached another deal including to add two nominees to the board. here's the ceo on "halftime report." >> a year ago they say we're doing better than department store just macy's up 130%. dillard's up 300%. looks like with people in the board room not enough change and more is required if shareholders generate returns. >> kohl's said it is stan

esg is responsible investing. who's responsible for building esg into your investments? on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. what the world needs now... is people. people who see healthcare a little bit differently. where technology helps doctors provide more precise care... leading to faster, better outcomes and puts improved health in all of our hands. because seeing a healthier world isn't far in the future. we're building it... now. ge. building a world that works. >>> welcome back to "squawk box. bank stocks, they are off to a solid start to the year only a week and a half in but on friday, we get quarterly results from jp morning while fargo, citi and diversified finance research at morgan stanley. good morning to you. what are we going to hear you think later this week in

the esg discount it is addressing that through a series of steps. it also has the apple or policy change risk a challenge they had in the back half of '21. we think they will physician it and we think it is trading at a discount >> you think some of the esg owed or that surrounded facebook or meta -- whatever it is called -- is going to go away. let's go to large cap. r roku, chewy, and spotify >> that's right. the latter two are what i call gross margin catalyst stocks you have to have something specific, what are you holding out for this year? both names have a chance pour gross margins to expand. when you have low growth margin stocks like netflix one of the things that unlocks them is when there arist gross margin increases, i think chewy and spotify are going to give that you in 2022. >> i can see people writing down, taking notes here. in the small-mid cap area it is bubble, duo lingo, not to be confused with duo leapa, and mix. >> high multiple names in duo lingo and wix. of all three names, wix has been around the longest it is a good steady

charles: some of this esg stuff i'm a skeptic, what you're talking about right now you say you can dojust for america and can do it for the world. thank you both very much. >> thanks for having us. >> after the break, folks, we alarming news, the irs, watch out, all i can say if you think you can hide what you're doing on your apps and not worry about your banking and checking account, forget about it. your finances are not safe. you got a tweet from white house chief of staff ron klain that simply didn't age well as the biden administration suffers from their own testing shortages. larry kudlow has a lot on its plate. he will be here in a minute. we'll be right back. ♪. for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset... the path is gilded with the potential for rich returns. whether you've enjoyed the legendary terrain in telluride, the unparalleled landscape of park city or the famed peaks of whistler, you face the hassle of lugging your gear through the airport. with ship skis, you're just a few clicks away from having your skis, sn

the guys that have the focus on esg.e looking at those guys, but the smaller companies, the private companies aren't under nearly so scrutiny. they're doing the simple deals and they're just selling acreage to the privates and then you have situations where i'm a public company i own the royalty and i own the rights to produce the crude oil and natural gas, and i'm going to get a royalty on that if i sell that to somebody else and obligate that party to drill that acreage, and they make the money by drilling the acreage and i make money by getting a royalty on the acreage that i couldn't drill because wall street's on my back. >> wow there's a lot of opportunity there. >> if we got $100 oil, rusty and it's not controlled by us then we would have to think that the pioneers, the diamondback, the conocos can start pumping more and want wreck the price >> they could, and my sense, jim, is thaefsh's looking around and saying somebody needs to go first and if someone would challenge the conventional wisdom under a scenario lik

and beyond profits, larry fink says esg investing is not woke it's capitalism. the former head of sustainable investing at that firm has been an outspoken critic of the investing movement he is our guest this hour. >> looking forward to that hi, everybody. stocks are off session lows by almost 200 points. the dow was down 650 now 478. nasdaq down more than 2% you can blame the bond market. ten-year hitting 1.86% this afternoon. highest since january of 2020. let's get to michael santoli >> markets continue to brace for a tighter fed eventually and race to get to where they think the rates are going to go. and also a little bit of a bumpy economic environment the s&p bounced off the bottom of a two-month range what the markets do on liquidity is moving the other way as they start to ration capital. so smaller, riskier, enterprises are withheld here you have this low here from the early part of last year is kind of at risk with the russell 2000 a lot of calls for a rotation. it's not working just yet. financials are not able to pick up the slack today for technolo

if we go for force esg there will be huge problems there will be economic dislocations, this has to beition this is a lower or 0 carbon footprint economy not tomorrow which you hear from the biden administration and others why is that there will be economic dislocation that impact average americans working class americans. if you stop drilling for oil gas prices will go through the roof. i don't care have any electric vehicles you want to build in the next ten years, guess what poor people, average americans cannot afford electric vehicles right now besides being inefficient many ways they are expensive, he makes that point really clear working to have to have a national policy going here that does not turn off the light switch so to speak or turn on the light switch in terms of reducing carbon footprint at a corporate level. i found it a fascinating read it's always provocative, it was countered to the narrative that i was writing about this the wall street journal editorial and awoke ceo you did not see that in this i think this is everything based on the guy that i know in west virg

we think esg will be a group to look at bold moves.: emmanuel cau, head of european equity strategy from barclays, thank you for your insights this morning. thank you to tim craighead as well for these 50 companies to watch. coming up, climate change and sustainability. risk to the french financial system. we discuss that next. this is bloomberg. ♪ francine: welcome back to the open. 30 minutes into european trading day. here are your top stories. traders increasingly bet on four rate hikes this year. the u.s. and russia vowed to keep talking to reduce tensions. little progress was made in geneva. elevated high risks from market valuations. we will speak with the second deputy governor of the bank of france in just a few minutes. with the cpi tomorrow, it could be up 1.7%. tom: do they need to reprice? or will bill dudley say, you could see five or possibly six rate hikes this year. with that cpi data on wednesday, it will enforce that view. the markets will have to play catch-up. we saw the nasdaq fall almost 3% before recovering, end

esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. this is elodia. she's a recording artist. 1 of 10 million people that comcast has connected to affordable internet in the last 10 years. and this is emmanuel, a future recording artist, and one of the millions of students we're connecting throughout the next 10. through projectup, comcast is committing $1 billion so millions more students, past... and present, can continue to get the tools they need to build a future of unlimited possibilities. >>> welcome back to "squawk box. this morning, tech taking it on the chin yesterday and basically the past two weeks over inflation and rate fears the nasdaq getting clobbered down more than 8

the one risk -- on esg.ne is chasing, that potentially dilute some of the opportunities. we think in the medium to long-term, there is -- there is more of a focus on environmental and social, which are much more in line with core beliefs. those companies should provide better returns for shareholders. this is very much a growing theme and it is only here to stay. in places like china, we feel for the next two years, there is going to be a lot more pickup. we see that already with the government and regulators having more focus specifically on the social part. more specifics in regards to providing more disclosures in regards to their regulations for their companies. these are all things which will continue to happen moving forward. haidi: asian equity portfolio specialist at east spring investments. let's get to vonnie quinn with the first word headlines. vonnie: the world bank has cut its global growth forecast as covid cases surge pit gdp expending by four point 1% in 2022 versus previous estimates for 4.3

public companies on esg issues important to wokkers, customers and the environment.aking the list ibm ibm. coming in overall 19, 1 in the computer services industry and joining us is ibm ceo arvaind krishna. we don't often get to talk about the issues so much in the swirl of earnings and the economy. workers i think is number one issue weighted the highest you scored really well and in the tough environment in a pandemic with the really competitive market and a labor shortage how do attract and retain employees in this environment? >> sara, look, as you said attracting workers is about wages, jobs and the attributes are we serious about sustainability and making actions about it or not? people are willing to play a premium for sustain companies and we think that the workers also care about it you have to be competitive on wages and benefits and have a career path to believe and the work you do is serious and it benefits society. we believe we do pretty well on the things and that shows up in the ranking here just capital rankings is about workers, customers and inves

who's responsible for building esg into your investments?n for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. well, would you look at that? jerry, you gotta see this. seen it. trust me, after 15 walks... gets a little old. i really should be retired by now. wish i'd invested when i had the chance... to the moon! ugh. unbelievable. >>> the nation's earnings scorecard, the impact on consumer spending, demand an the bottom line. protecting your investments, finding new potential, team coverage and analysis all day. watch or listen live on the cnbc app. >>> shares of unp have managed to rally a bit the last couple days off six-week lows on the heals of the companies results will joius lern at this morning. >> [ inaudible ]. >> another one that cramer doesn't have tonight

oil, you have esg impediments that i can ma it difficult to attract capitol. there, it's the difficulty of getting the dollars to where they are toprom on the demand side it could take a recession -- the demand for commodities it's not the growth rate of demand that matters, it's the level of demand that makes them different from financial markets. if the demand is above the supply level, it can be going down, up, as long as demand is above supply i'm bullish, that's what creates the diversification against equity markets. >> in the past it's been said that high prices are what settles high prices because it's attractive to put money in those places you mentioned the issues that people have this time around, maybe it's esg when it comes to crude oil production, issues of not wanting to work with certain governments but is there a price point where people put their principles aside and say i'm going to invest here anyway? >> i think we'll find out where the number is in the next let's say 12 to 18 months. you look at oil and gas last year they outperformed esg

ugh esg is responsible investing. who's responsible for building esg into your investments?outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. . >>> we're keeping an eye on shares of take two interactive it is not having a good day at all, down almost 14% this after the company did announce its purchase of mobile game company zynga, the overall purchase price about 986 a share, cash and stock. the value is coming down a bit because even though there's a collar, it's actually below the collar the collar kicks in at 156 which conserves the stock value portion which is $6.36 a share and then $3.50 a share in cash the stock is getting hit also includes a 45-day go shop in other words, the opportunity for zynga go out and solicit other potential bids as well, should it choose to do so. you can see, you know, i

who's responsible for building esg into your investments?on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> get down to the new york stock exchange jim cramer joins us now. how can you not -- you don't like that rebound yesterday, jim, in the nasdaq does it make you -- how are you feeling about it is it ready to retest or should we be ratified. >> i think we have to watch interest rates if the ten year ticks back, then suddenly we repeal i do think we've seen the draft of powell's speech that's not going to change anything but i think if rates tick down again, people are going to be surprised at how much this market can go up i think if the stocks went down, people would be afraid of missing something. we forgot what it was like to miss something it's so criti

esg is responsible investing. who's responsible for building esg into your investments?rsuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> good thursday morning. welcome to another hour of christian aid. i'm carl quintanilla with morgan brennan and david faber. markets here holding on to gains. nasdaq up 4 straight as whales inflation ppi runs light on the headline as the market looks for clues maybe we are in peak mode for pricing. >> we'll have to see 30 minutes into the trading session. three movers we are watching we're going to start with

esg is responsible investing. plan for each employee who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. ♪ >>> welcome back to "squawk on the street." i'm diana olhio leg. pending home sales pell 3.8% that's a bigger drop than expected the street was looking for down just and 1%. the drop was 6.9% down year over year this index from the realtors represent signed contracts, people out shopping in december when mortgage rates were actually considerably lower than right now. so what was the problem? well, very, very little out there to buy the inventory of homes for sale in december was the lowest on record, down 14% from december 2020 and it was pretty low ba

our ai technology could be similar to the esg. everyone is talking about esg.t of skepticism about applying esg's. -- inflection point that can be broadly and widely adopted by managers because it gives scalability and efficiencies and the possibility to find -- -- through the technologies. haidi: what are the biggest investment themes you see your technology being most useful? francis: so far, our technology has been applied to u.s. equity spaces. while we are seeing the fundamental changes in the global macro market, we are seeing interest hike and some of the other experts are expecting more than that. we do see a possibility in the current market environment. we are in the midcycle. off-site potential -- that is typically the active strategy of working fast compared to the others. by having our technologies, we are trying to provide a solution to approaching the market with a different approach compared to the conventional approaches. >> francis oh joining us there. reporting some pretty tepid loan growth numbers in the fourth quarter but said that borrowin

it's a trend we'll continue to ride i think people need to understand while esg is the future, there'sastructure to figure out. we looked around and said somebody has to be running all these cars and as you pointed out the power backup, somebody is providing jet fuel. so we're glad they've had this run. i think it's a great place in the market to be and also doesn't have the issues that the tech variables have right now with where multiples are so high. >> yeah. they might -- multiples, by the way, were -- not now but they were when you started talking about the stocks at multi year or decade lows are you trimming any at all? they've had remarkable runs, some in a couple of weeks. >> you had a lot of the emps, they're in the emp space right now we're letting them run we're looking to pull back a little bit if oil pulls back above 100. oil above 100 is not sustainable. we like it to stay at the 70, 80 sweet spot at 100 opec may not play as nice and it's a drag on the consumers' wallet. we don't want that we don't want people to sacrifice consumer spending because they're filling up thei

what did you learn from darren walker about how to manage esg in the new philanthropy?rren walker, when he became head of the ford foundation, he said i will focus the ford foundation on one thing come inequality in our society. he got rid of a lot of the things the ford foundation did, but he also influenced other things like esg and other areas of inequality. he has a transformative figure. he came from poverty and was raised by single mother in texas, went to public schools, came to new york to be a lawyer and a banker. he decided life would be more important if he would spend time giving back to society. he rose up to be at the rockefeller foundation, now the ford foundation. he is a charismatic figure who influences everybody he comes in touch with because he is so passionate about the things he believes in. i would not be surprised if someone would say he had an impact on the ubs decision because he has an impact on so many things in the philanthropic world. lisa: i see a connective link between darren walker and your prior gassed melanie hobson in coming from pov

esg is responsible investing. pick the best plan for each employee who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> an earnings alert on lending club tracking ta story, christina. >> talk about the positive numbers despite the fact the stock is plunging now. earnings beat 27 cents per share higher than estimated as well as revenues of 2 52.2 million guidance for the company, q1 revenue guidance falls in line with what the estimate were, and the same thing talking about the full year versus q1. full year guidance $1.1 billion to $1.2 billion. yet the stock is down 17% right now. though only thing we could see now at the moment parsing through the info

funds, these mutual funds and asset managers who are saying, hey, come hither and invest with me, we're esg. i think in that second area we also have work to do to make sure that there is some truth in advertising, that something stands behind just like when you go into a grocery store and it is fat-free milk what stands behind that. so we're trying to do rules in that area as well to basically to guard against what you said, this green washing so to speak there are some metrics just as you know what stands behind when you say it is a high yield bond fund, you know the details or when you go in a grocery store and it is fat-free milk. >> let's do round tables and you and me, we could teach people we have been around a long time. we could, without picking any security or particular firm, we could help educate people so they don't lose a lot of money because we both know that is what is happening right now. >> well it is part of our jobs, you have a different job than i do, jim. we have known each other probably 20 some years i'm going to keep doing what i'm doing on behalf of 330 million ame

jack mallers, thanks very much >> thank you >>> up next, fighting for truth, justice and esg. and just capital releasing their ranking of america's most just companies including the top 100 firms promoting esg. the ceo of akamai whose coany mp ranked number 46, will join us next when you're looking for answers, it's good to have help. because the right information, at the right time, may make all the difference. at humana, we know that's especially true when you're looking for a medicare supplement insurance plan. that's why we're offering "seven things every medicare supplement should have". it's yours free, just for calling the number on your screen. and when you call, a knowledgeable licensed agent-producer can answer any questions you have, and help you choose the plan that's right for you. the call is free, and there's no obligation. you see, medicare covers only about 80% of your part b medical expenses. the rest is up to you! that's why so many people purchase medicare supplement insurance plans like those offered by humana. they're designed to help you save money and p

esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> there's no preordained route here connecting necessarily fed policy with how you're doing, you know, in your mutual funds they may diverge, they may not you know, if my firm were comfortable being long the indices and being short, you know, a lot of kind of the craziness. i think that's still going to be kind of the way you want to be i think you want to avoid a rot of the stuff that's still trading. >> short seller jim chenos weighing in on the market environment. interesting thought given that a lot of people believe the fed is the overriding macro dynamic >> i thought that jim was spot on i don't know, i i know that we all fee

esg is responsible investing. who's responsible for building esg into your investments?im, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. street nasdaq rallied more than 3%. let's go back to mike santoli for a look at how earnings revisions have been stacking up. >> in aggregate, earnings forecasts are holding up, but this is a measure of just how inclusive the earnings revisions breadth is in other words, this is the percentage of companies where earnings revisions are higher versus those that are going lower. the net difference you see it looks really stark. we hit this 45%. this from morgan stanley, mike wilson the strategist there, cautious in part because the market is becoming stingier in terms of projecting profit growth of fewer and fewer companies as a percentage. t

esg is responsible investing. who's responsible for building esg into your investments?pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ >>> about 25 minutes left of trading. we're seeing a lift in the markets. the dow is at session highs, 331 points higher right now. about a fu

as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes.t of outperformance at pgim. the investment management business of prudential. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. today, you have to deal with a lot of moving parts. you want everything to be on autopilot. and to be prepared if anything changes. with ibm, you can do both. your business can bring data together across your clouds, from suppliers to shippers, to the factory floor. so whatever comes your way, the wheels keep moving. seamlessly modernizing your operations, that's why so many businesses work with ibm. >>> all right. take a look at shares of teradyne there they are down more than 22% this week steve weiss ran all the way across the pond. he was trying to avoid having to deal with this one, but we have tracked him down and he is on the phone to tell us what did you do with this positio

they've got that esg component which makes the brand a lot more appealing to a very certain set of peoplere, and that's going to be something you're going to have to watch because if this is a situation where there's a value trade to be had, this is one of those scenarios where maybe the market's giving you that opportunity. i would say that with allbirds, there is a compelling case if they can give you that kind of feel-good approach to buying sneakers, i like shoes that fit, i've been told these things are very comfortable i would have to try it out personally before i'd say this is the stock i want to buy >> i just like the idea of being able to pop them in the wash but my amazon knock-offs also do that, just maybe don't last as long >>> coinbase, this one slightly lower. the move beyond crypto to diversify could help the stock do better. i give them more than just crypto retail trading revenues in 2022. they upgraded it to a buy, maintained a 340 price objective. coinbase is still 50% below its all-time high from that ipo back in april matt, what would you do with the coin >> i like t

in that letter there to talk about all this esg investment and all of this focus on doing better.l for related investments west virginia included. instead they are perfectly fine operating in china, investing in companies that are tied to the military. even as we note genocide is taking place. >> exactly. the plight of the uighurs, maria, in china is a genocide. it is something that no american should go along with. we essentially have our product being made in china and slave labor. it is really in tragedy what is happening over there and we need to bring the job back from china, bring them back to the united states. he mentioned the letter. one of the most interesting aspects of the whole letter not saying men people talk about it but said capitalism has the power to essentially change society. to me, what that means is large concentration of capitol, money has the power to change society. well, we do not want the same vision for our society that blackrock does. we do not want them pressing their values on west virginia and i am short many, many people across this country feel t