if google were to be bad or facebook or amazon, you can only expect what would happen. >> so all yould really need to see, next week's earnings is a split decision. the way you can do this is by selling the december 118, 122 call spread. when i was looking at it earlier today, you could sell the december 118 call for $2.70, buy the 122s against that for 85 cents. >> the q's down more than 3% since then. carter? >> well, look. if the whole thing is coming apart, they're going to go with it. the question is, do you maybe harvest some or roll down. i leave that to you. but the timing seems okay on this. and presumptively there is more. >> all right. stick with it? >> actually, what i would do is actually replace it with a trade like the one we just articulated which is to buy a slightly in the money put spread where you are not going to pay a lot of decay and basically can play the big move. >> in life, you win some and you lose some. and that's exactly what is happening with dan's bullish bet on facebook. >> i think the risk is really to the downside in facebook. if you're considering

i think people all over the country are very concerned about how much power facebook or a google or an amazon has. what are they doing with their private information. those are going to be important questions for the next administration. but there are also differences, and i think, you know, one of those big differences is no matter how important facebook might be in my life, i can headache that choice to, you know -- make that choice to, you know, go away from facebook, to turn it off and get my information elsewhere. that's a lot harder to do when it comes to my internet service provider. where i have at most two choices, and it's that important in their life? i think that does require a different set of answers. so i think, you know, and i hope the clinton administration thinks that in many ways a lot of what the wheeler regime at the fcc has done is really a model. they stepped up to protect consumers, they've actually challenged some of the powerful industry lobbies in town. they aren't gotten -- they haven't gotten everything right, but when we look back over the course of what they've

as a facebook or netflix or amazon amongst that group?rily domestically oriented when it comes to its revenue. why was that taken to the wood shed in the days a the election? >> mostly it's a source of funds. investors are looking more towards cyclicals as we see more infrastructure spending and higher spending. people are usings alphabet. another high quality company in the industrial space. they have pricing power, great original equipment business. really seeking products. and that kind of company should out-perform in this. people are starting as the dust settles to look back at the great high quality companies like alphabet. >> how is it of repatriating cash from overseas going to be in all this? >> we think it is going to be important and a benefit to a lot of these technology companies. >> but in terms of -- do you think it's in the next year, two years out, how much do you think it's brought back? how do you map it out? >> we see that as a relatively short-term. >> not a big one for you. >> we do see it coming and coming in the ne

owning google and owning apple over amazon and netflix or facebook to me is an interesting trade. >> all right. coming up, facebook is now lower by just about 2.2%. could mark zuckerberg get excited. and on the move in the after hours session. the latest headlines. >>> and one part of the market investors are fleeing from and could mean big trouble ahead. we will explain. much more "fast money" right after this. this is my retirement. retiring retired tires. and i never get tired of it. are you entirely prepared to retire? plan your never tiring retiring retired tires retirement with e*trade. i'm in vests and as a vested investor in vests i invest with e*trade, where investors can investigate and invest in vests... or not in vests. sign up at etrade.com and get up to six hundred dollars. >>> welcome back to "fast money." we've got an earnings alert on wynn resorts. let's get to aditi roy in san francisco. >> that's right, melissa. the stock is down 5% after the company missed on the top and bottom lines. winn also missed expectations on revenue coming where it missed its opening casi

so what would you rotate out of with amazon screaming up to the levels it was at or facebook and some of these others? i bought amazon on that harsh sell-off today because it was down, what, 6% or 7%. i bought some there. flipped it. now i'm short at the 200-day moving average. i'm short puts. i'm not short amazon. i'm short putsigates me. they're looking around for do i want to stick with these or go where fixed income trading will be through the roof over with the banks where loan growth will be through the roof. nothing focuses the mind like the gallows. if you have to borrow or refinance you're focused on the interest rates going up, judge. that it will be great for jpmorgan, bank america. >> it's rotation but it's a rotation not necessarily just from stock sector into other stock sector. it's rotation from fixed income from bonds into stocks. >> yep. >> and, by the way, scott, that actually makes it easier for investors who have had cash on the sidelines because they don't want to invest in bonds to invest in bonds. you go back and we were good 45 basis points lower on the ten ye

that stock jumped more than $12 or 13% while facebook, amazon, netflix, and google, fang, now alphabet, were laid to waste. it's a pretty poignant dichot y dichotomy. these moves are way over the top. energy is too strong, although the direction is right. tech is too weak although i can see why it would sell off. the soft goods, case by case. and the banks? with manu chi and ross in there, i think the windfall for the banks continues. more on that later in the show. put it all together and we could have a down day because the industries that benefits from the trump growth agenda do make up as much as they used of the s&p 500 or the nasdaq or even the dow as the industries that don't need a strong economy to thrive kind of really -- well, there's just a lot more of them than we thought. give it a couple of days to sort out and i think you'll find that the news is better for all companies. there just isn't enough money coming in on a given day to make everything rally at once. the bottom line? this is another rotation in a long line of rotations that will run its course before another on

facebook, amazon and google or aw at-bat now off by 2% and lot of their ceos have been vocal about whohave supported during the election campaign. you wonder whether there is re-cremation or maybe that is just speculation that there might be. joe: or culturally, maybe their movement is moving on. -- their moment is moving on. let's look at government bonds. with 2.14% on the 10 year. move and wenary will be talking about that for a long time in terms of what investors are pricing in. an increase in fed bets coming forward -- huge developments in the rates market with investors betting trump cannot break the dis-inflationary spiral. i want to take a quick look at germany. german bond yields rising. scarlet: it was negative for. joe: you can actually get paid to hold german bonds. scarlet: let's take a look at currencies -- the dollar extending its gain. dollar got yen, the within spitting distance of 107 which is at a four-month high. we see a selloff in latin american currencies. the fed would turn more hawkish because the policies would be inflationary and that would make these higher

stocks remain the third biggest sector or financials broadly, third biggest secretarier in the ssecretary er sector. if you look at the names like facebook, amazon, google parent company alphabet, or apple, all of those guys have served to be real drags and weights around the market. the question becomes whether or not people see value here. they fall on quit a bit with the overall market being up near record highs. >> these are -- >> everybody we had on talking about how they love facebook. have to be in these stocks to find growth in this market. >> i would say -- this is a hyperbole. these are stocks that work consistently for the last few years. they were always ones that you could count on. facebook is now the tenth worst performing stock in the s&p 500 over the past month. and i do wonder, i don't know if we call this fake news thing a scandal, but it is out there, i wonder if facebook could be pinched from that. people get their news from facebook. >> the reason for the big sell-off is -- >> it is -- >> rotation. >> stock could be atms in order to buy financials and industrials. >> sell tech by banks. i also think amazon might be -- i wro

most of the people who are watching this will have a little piece of amazon, apple, facebook, google, somewhere in their mutual funds orave a little of that and they're down. $44 down for amazon, i am frankly astonished by that, really am. taxiing along the runway there is donald trump's plane on his way. he will disembark as they say, and he'll make his way to the white house. he's scheduled to meet with the president just in the 11:00 hour. now, i dare say he's going to have a motorcade that takes him all the way from, that's reagan national, by the way, take him from there to the white house and not that far and he'll be there. that's the president-elect and that's what you do with presidents follow him all over the place. you step foot outside of the white house and your residence and you're followed. that's happening now. a lot of people on the left around the country protesting trump's election and some of it got violent in los angeles, for example, there was a highway, a big highway, shut down by about 100 demonstrators. look who is with us now, sheriff clark coming to us from milwaue. what do you think about th

amazon. one comment social network on facebook are now witnessing we need a government faced the commission or a government amazon commission or a government googl google permisso come and break those companies out or to force them to resell their services but i guess you guys tried that at the ftc but for the most part people realize that those companies are competing with one another. they're competing with one another with very dynamic business strategies. when you see comcast and charter and at&t and verizon and t-mobile and sprint, that's a lot of competitors in a market like this, all of them competing vigorously with one another. one for my talk about his t-mobile's zero rating plan. very popular with consumers can now so popular with some liberal public interest advocates. that's the innovation that current levels of competition are creating everything in a very healthy way. >> one thing this brings up is open internet issues. secretary clinton came out in strong support of the net that god wills of last year and she is, in the package and pledge to fight an open-ended rules abroad as

or amazon those of the important questions for the next semester asian. but one of the big differences no matter those differences second make that choice to go from facebook to get my information elsewhere. that is harder with the internet service provider. so maybe i have two choices some only have one choice it is that important in their life does require a different set of answers. i hope the clinton demonstration realizes what they have done is a model to step up and of actually challenged the lobbies and town. they did not play the politics perfectly every time but there is a lot to be proud of and the next minute administration is looking to build on that not care that down. >> who will ladylike to seek -- >> so gatekeepers and washington? it is so hard to get into the name game. asking us who should get the nomination. i find did a little bit hard because i don't know who will get to the really big jobs with a new minister asian people, men everybody thinks they should be commerce secretary but when they start to look below better when these names are very well qualified for the job but to be determined on november night when negative ninth. >> the

amazon. we have one dominant social network, facebook. no one is saying we need a government facebook commission amazonvernment commission or a government google commission to break those companies opt or force them to resell their services. i guess you dies tried a i guessit of that -- you guys tried a little bit of that with the neutrality issue. these guys are competing with one another with dynamic business strategies. comcast, charter, at&t, verizon, t-mobile, and lot of that is a competitors in a market like this, all competing vigorously with one another. one we might talk about his t-mobile's zero rating plan, which is very popular with consumers, not so popular with some liberal public interest advocates. that is the kind of innovation that current levels of competition are creating, and i think in a very healthy way. amir: one thing this brings up his open internet issues. secretary clinton came out in strong support of the net .eutrality rules of last year in curious, i know that congress, they have discussed wanting to rewrite the communications act with the internet age, and the neutrality rule somewhat undermines that. under a re

facebooks, the amazons. you got to go under the surface maybe two or three levels to find names in tech that you think could work. >> yeah. i think there's a really powerful sector rotation that's going on here. i think it's two-fold. i think one is the fact that you are just seeing a lot of money coming out of the high dividend yielding stocks, and they're rotating into the respect -- you know, into other sectors that people want to buy, like the financial sector and, like, the industrial sector that are going to be advantaged by some of trump's policies. i think the other thing is that anything that has a high p.e. right now is thought of as a duration play and so i think as people are derating in terms of long duration assets, they're looking for things that have value, and that's not the high p.e. tech sector right now. i think that this trade has legs. this is just in early innings, and i think you'll continue to see it happen and play out over the next couple of months. >> apple does that, right? that's the key point. it's more than just that. >> no. that's not the only driver. i think one of the driv

amazon, google. vertical players, people like seman's or others. we talk about facebook, social media.onsumer internet. it's going to be very different than the consumer internet or enterprise internet. companies like ge have a real advantage and opportunity to play this game very hard and very well. >> you talked about the people you bring in, the new graduates you bring in every year, 4,000 to 5,000 graduates. every one of them will learn to code? >> computer science is kind of the new liberal arts. it's the new language. people have to be proficient if they want to be successful in the modern world. it doesn't matter what function, what job you're in. for your viewers, it's worth understanding. for investors out there, it's worth understanding exactly how profound this change is going to be. it's going to impact every industry. >> does the election change any strategy regarding m & a? you've done a lot of both buying and selling. >> my view is our strategies haven't changed. i don't regret being in financial services even though bank stocks have had a great week. i cheer my friends

the nasdaq i mentioned earlier is negative, amazon, apple, facebook, microsoft, google, is this a trade story orhing else? >> i think, again, it comes right back down to just the investors portfolios being shifted based on all the negative sentiment and other sectors and underexposure if you will, sara. think about the banks how much underexposure people had. other biotech, health care, a lot of underexposure there. so it's a repositioning if you will. i also look at the scrutiny that could come under play. you know, technology, you know, we've seen a lot of money funnel in there. it's been such a crowded sector in certain parts of it. the facebooks of the world, amazons, googles. just money seeping out of that going into really under sort of appreciated sectors and names that didn't participate over the past year or so. >> as you're talking, david, donald trump is arriving in washington, d.c., for his meeting with the president, not just donald trump and president-elect trump and the president, but also the first lady and incoming first lady melania trump. they're going to meet at 11:00 a.m. we

or technology companies. it is not just an interesting thing but a core growth of share growth and financial growth. david: i assume they are apple, google, facebook, microsoft and amazonic: that is correct. david: it seems when you pick up the paper, they all want to be the business somebody else is in. eric: that is called competition. david: everybody wants to have driverless cars, do you expect them all to be in everybody else's business? eric: what i love about this question is, this is how it is supposed to work. people are supposed to identify business opportunities and they are supposed to produce a better product. i believe our products are better than our competitors, but our competitors keep trying and i can assure you in areas we are not quite as strong in market share, we have a new idea, you approach we want to solve the problem in a new way. in the tech industry you cannot do the exact same product as somebody else that is already there, so why would you switch? the switching cost is too high. you have to come up with a new idea, new approach. for us, we have decided the new idea is the use of machine intelligence to be an assistant. everything we are do

i think you're able to get into some stocks like amazon at that 200 day moving average or close to it. same thing with facebookfacebook hasn't had the same move yet, but i think that one will happen too, judge. >> and, scott, i think the most important thing we heard from terry duffy there, talking about volatility, and that's where i attacked too, we saw that volatility fall off a cliff, i think we'll see volatility come back into the marketplace. it hasn't yet, though. we can see it again today, getting pounded once again. i think the financials are a great place to be. i'm looking at franklin resources. but that xlf paper we talked about at the top of the show, that was massive. i think the financials still do have upside. only down 1% today. given the kind of move they already made going into this, i think there is room to the upside. >> all right, guys. thanks so much. see you back in new jersey tomorrow. that does it for us. "power lunch" begins right now. >>> fire up the power tools. one big retailer getting hit hard despite an earnings beat. we'll drill down. warren buffett buying into something he onc

expecting the same, but notwithstanding that, you've seen the impact or the result of these investments not just from facebook, from amazon, from google as well. from facebook in particular, those investments have led to 1.8 billion people coming to the platform on a monthly basis. 1.2 billion people coming in on a daily basis. those investments have yielded fruit, so i'm expecting the same as well. i'm not too concerned. i think the pullback is a gift for investors who have been on the sidelines. >> a gift, an opportunity, it's on sale. do you believe that? >> no, i do not. >> it's a cheap stock, relatively speaking. >> how many times have we been disappointed in the quality of online advertising. i've never done anything based on an ad i've seen online. i'm still questioning whether anything -- click search, obviously, is great. does this other stuff even if you know what people are interested in and you're able to customize it for what they want on facebook or something, is it going to be the advertising model for the future. >> to a large extent, and the fact you haven't done it yet with -- >> actually, it doesn't mea

facebook at all. >> dan, we saw microsoft, google, amazon, yahoo! all tried to do business in china, tried to make tweaks to their business in order to operate there, and then having to dial back ormpletely. do you think facebook can do it? >> no. i hope that they can. look, the chinese government will control what they want to have there, you know. when we did the alibaba deal at yahoo! the reason we did it was the chinese government was very clear -- can't do any communication, can't do any content, media, but we love e-commerce, and that's how we ended up working with alibaba and getting into those negotiations. this is a very slippery slope. i absolutely appreciate the fact that companies like facebook, like any company, needs to follow the laws of every country they're in, or you can't be in that country. so, there's nothing wrong with following the laws. the question is what's the definition of censorship? which is, if you're going to turn over communication, private communication between individuals on messenger or whatsapp, i don't think that's anything they would ever consider doing. but if it's a matter of what kind of content gets to be put through the news feed, that

but facebook is up, google is up, or i should say alphabet. amazon is up.names up for the first time in a while that since the election have been down while the broader market of course has been very strong and the banks, our conversation a moment ago, were very strong. drug stocks, pharmaceutical companies very strong. technology, though, has really been getting hammered. >> there's not been new money coming to the market for a long time so you have to sell something for something. people want companies that have super great growth. what's super great growth? perhaps united technology, companies that you didn't think could move. david, i've got to tell you, i don't know if the bounce can last because people still need more money. what you really need to see is a resurgence in equities as an asset class. a lot of people feel as interest rates go higher, bonds will become even more attractive. i disagree. i think that equities can become more attractive but just not the same equities. >> well, how much further can rates really go and is justified? we're look

facebook and amazon closed low yesterday. dow futures are higher today. european markets are mixed. shares in asia closed higher. >>> so steve bannon of breitbart or reince priebus of the rnc? which one will run the white house for trump? we are keeping our eye on protests and one which has turned into a riot in portland, oregon. stay with us. >>> all right. live pictures right now from portland, oregon. you can see the background those are police and the police line. the reason they are there is peaceful demonstrations upset about the results of the election. it turned into what police are calling riots overnight. several hundred people left causing damage and lighting things on fire and breaking windows. we spoke to sergeant wilson from the portland police department who said they were using paint guns and pellet guns and smoke grenades to disperse the crowd. >> it is looking calmer than it did a short time ago. we saw a lot of destruction happening. dragging garbage cans across and lighting fires. not seeing that now. >> we will keep our eye on that. as we keep our eye on portland, we will talk about the future trump administration. he holds th

oil being weak for the last seven or eight days which matches the decline in the s&p and consistent selling in ultrahigh-beta momentum stocks, google, amazon, today facebook, the market's holding in fairly well. you've got a couple of volatile days, but other than that, the declines have been very small. the transportation index has been holding 8,000. that's a little bit of a positive. though we do have, obviously, tremendous uncertainty built up toward the election next week. that's why you get a bump in the vix. liz: transportation index standing at 8,075. within that are the airlines, the choo-choos, the truckers, that is significant along with ups and fedex. ira, oh, god. >> take off that hat! take off that hat! go cubbies. yeah, yeah, okay, all right, let's do this, ira. i'm sorry, we're going to do. this next year, ira, next year. >> my hat's off to you! [laughter]. liz: our hat's off to you, go cubbies, they deserved it. let's get on what's happening with the bank of england. they juiced the european markets and certainly the pound sterling against the u.s. dollar because they said they're done, lowering rates, cutting rates, do you expect the fed

going strong but i noticed amazon and facebook shares are each down 4%, even as jeff bezos actually tweeted out to donald trump saying he supports him and wants to work -- or see what he does over the next four years and wishes him luck. interesting dynamic in the markets. we will update you on it and on what is going on. we are indeed watching financials. we have been watching the yield curve and the yield on the 10 year in particular. that is a record two day move for the 10 year yield. now the highest that it has been since january. has increase in yields really been a boon to financials over the past couple of days. we earlier talked about the big money center banks. we have also got a rally in smaller banks like citizens financial. they are having their best today rally in seven years. insurance stocks are getting a lift as you see the yield curves whitening out. -- widening out. goldman sachs and morgan stanley seeing their highest in a year. mark: julie sticking with that fixed income theme. still ahead, donald trump's victory leading to a selloff in the global bond market. more on that ahead. vonnie: you are seeing a live shot of the president-elec

the tech informs or the paul niche tells us why apple, facebook and amazon got left out and why thereld be buyers right now. >>> tomorrow on "squawk box," at 7:00 a.m. you'll know what time it is. >> it's miller time. >> it's miller time! >> our guest host is the father/son investment team of bill miller and bill miller iv. they'll join us to talk markets, the economy and the impact of donald trump's electoral victory. miller time starts tomorrow at 7:00 a.m. eastern on "squawk box." mary buys a little lamb. one of millions of orders on this company's servers. accessible by thousands of suppliers and employees globally. but with cyber threats on the rise, mary's data could be under attack. with the help of at&t, and security that senses and mitigates cyber threats, their critical data is safer than ever. giving them the agility to be open & secure. because no one knows & like at&t. so we know how to cover almost almoanything.hing, even a rodent ride-along. [dad] alright, buddy, don't forget anything! [kid] i won't, dad... [captain rod] happy tuesday morning! captain rod here. it's pre

amazons, the ibm's, the largest cap companies affecting the whole industry. down: facebook, google, since the election. do you think that will keep up, orwe see more certainty around trump's policies, that could change? >> i think that could change. i think the tech sector will probably join this rally at some point. i think we are going to talk a little bit about ipo's. i think the backdrop for ipo's is very good. people are looking for and thewth companies market and we see a lot of growth in technology, especially in cloud-based platforms, especially companies did -- that do not have as big an impact from these issues. we have two political surprises with the election of donald trump and brexit, so companies that were perhaps waiting for more certainty might not have gotten it. what does that mean for 2017 when it comes to ipo's. backdrop for ipo's has been really good, actually. we have had low volatility in the market, five months of inflows into at witty funds, generally good performance, and ipose ipo sector, for the .hat have come out, they are up so, people are making money in outsized returns by betting on new companies in the

apple, amazon, microsoft, google, facebook, all of them up 2% or better, fractional game for apple.uggled back to $45 a barrel. news on warren buffett's berkshire hathaway buying shares of those three airlines, american, united, delta. thought you hated airlines. stuart: ashley: wouldn't touch them with a 10 foot pole for many years. but his tune has changed. it is interesting, he says the airlines are improving, not sure if he made these pics, they tended to buy into stocks warren buffett has been critical of notably technology. berkshire hathaway getting into airlines. another sign of the change of mind. interesting that delta is moving a little lower. stuart: warren buffett at best, kind of like that. donald trump will deport or try to, millions of criminal illegal immigrants living in this country. big sanctuary cities, los angeles, chicago, said they would not help in los angeles too. watch this. >> this is a monumental task especially in california, you have probably 500,000 undocumented folks in the city alone and no intention of making data priority. this is a population we

companies, amazon, microsoft, ibm, since those are the largest market cap companies affecting the whole indices. emily: facebook, google down since the election. do you think that will keep up, or we start to see more certainty around trump's policies, that could change? carter: i think it could change. i think the tech sector will probably join this rally at some point. i think we will talk a little bit about ipo's. the backdrop for ipo's is very good. i think people are looking for high-growth companies in the markets today. we see a lot of growth in technology, especially in cloud-based software platforms. and other companies that don't necessarily have as big an impact as some of these global economic issues. emily: 2015, 2016 pretty dry years for tech ipo's, and now we have two political surprises with the election of donald trump and brexit, so perhaps companies waiting for her -- more certainty have not have gotten it. what does it mean for 2017 in terms of ipo's? carter: the backdrop for ipo's has been really good over the last six months. we have had low volatility in the market, five months of inflows into equity funds. we've had generally good performance. in the ipo

think of trade deals and physical goods going across borders, but facebook, google, amazon for that matter, they trade a lot of digital goods orntellectual property. as example, a youtube star in u.s. could have a big fan base in korea or mexico or sweden, and then here she is able to, you know, potentially monetize that audience by selling ads against it. the tpp allowed this to continue and go on and formalize what the rules would be and the ability to sort of bring data back and forth across different borders so you could monetize the data. that's the key part. tpp allowed for free flow of data across borders. now it is off the table, it will be that much harder for google oral pta bet for that matter to sort of monetize all of the data across the globe, across different countries. >> team trump is saying they will be able to negotiate better bilateral deals. so is it possible, even though obviously it will take a longer period of time, there still might be -- i would imagine, by the way, that's why there's been outreach from the tech community to the president-elect. >> yeah, i mean of course you're going to want to deal w

or our facebook page to share this >>> take a look at this. if you have not seen this, a big warning before you buy a certain toy for christmas. >> toys "r" us and amazon and walmart have already taken them off the shelves because they burst into flames. the couple in washington state that after they bought the tonka truck for their grandson it is one of the trucks the kids can actually get inside and ride. >> the officer said he appeared to be 15 or 20 feet high flames. it was pretty shocking. >> that is just incredible. you can see the print toy in the truck. toys "r" us is trying to figure out what happened. the company says this appears to be an isolated incident but they are taking all while they investigate. >> that is not supposed to happen. the now's nicole grigg found out that is not the only problem people are reporting with that particular kind of truck. >> reporter: riding miniature style is a holiday gift that falls under the most popular category every year. everything from a motorcycle to a fancy bmw and vintage cars all battery-operated. so here you want to find the age for the 12. right here on the motorcycle it is says ages three and

or $3 higher? >> i'm saying $4 is possible. but $30, i don't think is possible. so you're playing for middle 20s. huge move. still fine. but buying facebook, buying amazon, buying google, bang 4 buck is probably more. remember what jeff bezos can do. once earnings comes out, he can turn on that spigot again and really show trump. >> you often say price is truth. what does this tell you, though, that tech -- these particular tech stocks can go down every single day since the election. at what point do you have to say i have to trade the market that i have, even though i believe these are good, solid companies? >> think about the huge story this would be if the market was trading commensurate with the moves we've seen in amazon and facebook. it would be a huge story, right? but it's flying under the radar screen because the s&p is within a whisper of an all-time high. i think it is a major story and absolutely something you have to take into consideration. is the s&p going to follow these stocks or are these stocks going to balance the current level. >> that's the question. >> that's the rub. at certain levels amazon specifically is going to bounce. but w

amazons, microsoft, ibm. since those are the largest market cap companies, affecting the whole industry. emily: facebook, google, netflix, for example, all down since the election. do you think that will keep up oronce we start to see more certainty around his policies, that could change? carter: i think it can change. i think the tech sector will probably join this rally at some point. i think, you know we're going to , talk a little about ipo's. i think the backdrop for ipo's is good. i think people are looking for high growth companies in the market today, and we see a lot of growth in technology, especially in cloud-based software platforms, and other companies that don't necessarily have as big an impact from these global economic issues. emily: so, 2015, 2016, pretty dry years for tech ipo's. now we have two political surprises with the election of donald trump and brexit. companies that were perhaps waiting for more certainty may not have gotten it. what does that mean for 2017? when it comes to ipo's? carter: we were saying before the election that the backdrop for ipo's has been good over the last six months. we've had low volatility in the market. we have had five months of inflows int

facebook, apple, amazon all closing lower on the day. more gains possible on the day though. dow futures slightly higher. european markets are mixed and asian closed mostly higher. >> steve banion of brightbart, oreince priebus. will one of these men be chief of staff. plus, show you live pictures of los angeles right now. we are keeping our eyes on protests like this, moments of tension like this across the country as thousands of people take to the streets to protest the results of the election. why do protein drinks taste chalky? then get worse? introducing protein shots from 5-hour energy. protein shots from 5-hour energy are smooth and tasty, and still deliver 21 grams of protein with 100 calories. they're great for workouts. so great that if you don't get up to fifteen percent more reps, more laps, more distance, we'll give you your money back - period. protein shots from 5-hour energy. great taste. 100 calories. 21 grams of protein. whmy doctor.houldn't hamy dentist.veryday? definitely my wife. wait, i know what i want. make sparkling water at home. and drink 43% more water every day. sodastream. love your water. ♪ >>> live pictures from portland, oregon. there were demonstrations across

or stock replacement strategies taking off positions, but what did we learn in earnings season? hey, financials are doing extremely well. >> the one week performance. apple down 3.5%. marvel, texas instruments. facebook down -- alphabet down three. amazon down three. >> you're take a small sample set. what is going into the earnings? they were moving it towards the earnings. most of them continued on. if they delivered. if they delivered the right numbers, look at the way google has traded. even look at the nice bounce you're getting out of amazon and some of the names, scott. when you look across microsoft holding pretty well, when you look across, those that performed with their earnings when they delivered the earnings that people wanted and expected to see, those are the names that you're going to want on a selloff. >> the valuations were all inflated, and their momentum trades kept going higher. for them to be at 3%, even 10% shouldn't be alarming. >> i'm wondering if it's getting started. that's what i want to -- that's what i want to ask our next guest. paul meeks is with us now. he is the chief investment officer and portfolio manager. he joins us live from seattle. paul, welcome. what do you do with these names? do you sell th

or so the revenues for comment. that's what they do every time. i've been here. his time on the way here was really poor. ashley: real quick on stacks, amazon, facebookd netflix -- let me finish my sentence for the love of jesus. it's one woman on the set with three men. when i get to the period, you can talk over me. facebook, amazon and netflix are in correction torture he had 10% is one of the reasons because of the rhetoric from donald trump talking about an antitrust concerned plus just days as have those "washington post" reporters digging into trump's background. again, this is plain out in the markets. we are not red or blue. we are about grading. >> you weren't a fly on the wall. >> that's where i heard it. neil: what's his demeanor and what he does, how aggressively does it come out the gate? >> i think on core issues if he doesn't come out and say the first hundred days we are lowering taxes, going to do something with dodd-frank. getting the pen ready. neil: i've never heard this before. 200 days. >> it's got a lot to do. my brothers a doctor and he starts telling me that mindnumbing aims that go on with obamacare. >> remember the list he