that is jeff miller from halliburton.e have many more voices through the morning across the industry. for now, back to you. dani: it will be interesting to see if they agree that the market will continue to tighten. thank you. yousef gamal el-din in out of dobby. more to come. this is bloomberg. ♪ >> look, we all have opinions. i've been saying for a year -- >> i want to know your opinion. >> 10-year rates at 5% or higher because of the embedded inflation. this structural inflation is unlike anything. i think business leaders and politicians are not providing the foundation to help explain this. we have not seen inflation like this in over 30 years. i was a young bond trader during the late 70's and we had hyperinflation. i don't think we will have anything close to the inflation of the 1970's that we have so much deeper structural inflation. we are underestimating the change in geopolitics, it is so structurally inflationary. when i was in davos earlier this year, i heard the phrase "national security" uttered everywhere

halliburton is up 7%; right? lauren: israel's port of espeespecially issue lon is an l terminal and it's shut down. there's a fear of this not just being a conflict in israel but a wider regional conflict and oil surging by 4+ percent and last week fell and situation changed drastically. stuart: all the oil companies are up this morning and very significantly and defense stocks significantly and they're the safe havens in a time of war in the mideast. got that. spotify to change the subject. lauren: yeah, down almost 3%. some of the premium users are going to get 15 hours of free audio books per month and that hurts their mar john and downgrade to -- margins and downgrade to neutral. stuart: arm. lauren: it's chips for mainly smart phones and they've branched out and coverage began with impressive 17 boys and one price target as high as $85 and this is confidence in their plan to increase beyond smart phones to the cloud and cars. stuart: a live shot of gaza city engulfed in smoke and keeping a close eye on this

halliburton and marathon ending the day up more than 6%. this morning, you can see the pre-market with marathon" uu is up .50%. we will continue to watch these stocks. defensives off a banner day with the etf with the best session since november of 2020. leaders include northrop up 3.25% higher. looking at defense stocks in the pre-market, kratos defense is up 1%. the rest of the basket is moving higher. l3 harris up 1%. >>> now turning to treasuries. they were closed for trading yesterday. this morning, a sharp move across the curve as investors around the world are piling into the perceived safety of u.s. debt. the benchmark at 4.65. well off the highs we saw earlier in the month and just last week. you are seeing a steep drop here when it comes to treasury yields. you see the steep drop as more investors pile into u.s. treasuries for safety. we are watching the energy market as well. oil is coming off the very huge day yesterday on geopolitical concerns. the market is flat in the pre-market. wti at $86.38. you saw it was lower a second a

halliburton shares among those driving this index higher after barclays raising its price target to $55 trying to stay above $90 a barrel. we shall see. we have the israel-hamas war going on. we have that strong consumer. that is what we are playing yet in the markets. guy: simone foxman on what is happening with these markets. plenty still to come. we got united airlines out with numbers. we are going to turn back to the politics. president biden leaving for israel and the house of representatives is convening in a few minutes, noon new york time, because we need to figure out exactly what is happening with the story about whether or not jim jordan, the conservative from ohio, is going to be the next speaker. alix: bloomberg's kailey leinz is joining us on that. jim jordan. talk us through how close this could get. kailey: it could be very close. this will be judgment day for the current share of the judiciary. he was made the speaker designate friday in which more than 50 republicans said they would not vote for him. he has started to flip a lot of the opposition in recent days and ou

halliburton and apa round out the top five.have to ask, earnings season started a short time ago. when it comes to the energy sector, are there big themes? >> slb kicks os off this mornin with the offshore exposure which sets up the company well. we are seeing more growth in international than in the u.s. i think more broadly, the key thing is to watch executive comments around what the conflict in the middle east means for oil prices going forward and also what it means for cap x and drilling plans with wti above $90 a barrel. it looks more appealing to open the taps, but frank, they want to see numbers under control. >> thank you, pippa. >>> as we head to break, why the transport sector is telling a different story than the consumer stat according to a report from transunion. americans plan to spend 51% less this shopping season. we're back after this. >> announcer: sectornomics is sponsored by sector spdr etfs. hi, i'm jason and i've lost 202 pounds on golo. i was 424 pounds and my doctor was recommending weight loss surgery

halliburton. looking at went from the market leader two weeks ago, the bright spot on the stock market, to lagging on the stock market. these changes are head spinning and happen quickly and hard to get your head about them. the question is whether or not we can get data supporting a treasury rally. that's all that matters at this point. the joltings report was negative, the adp positive for stocks. tomorrow 170,000 non-farm payrolls we want below 170,000. we're thinking -- i think we're looking for 4.1% ex-food and energy for that. we had 4.3 in august. obviously, we want 4. it's just all about treasury yields right now. >> thank you very much. let's talk about what to expect from the data. 10-year yield is falling from session highs. investors tuning in to plenty of fed speak ahead of tomorrow's job report. let's bring in jonathan pingle. you never want to root for a weak jobs report. we want americans to have jobs and higher wages. it does feel like that's what the market needs to see to calm d

please do not sell halliburton. that's where the great growth stores are in this era. >> jim, thank you for taking my call and everything you do for the home gamers. i wanted to get your thoughts after earnings on ibm as a candidate for a core holding on a more considerate play on ai with a good yields. >> i thought the quarter was a very good. i went over it a couple of times because there is so much to read. in part because they bought a company called red hat and they have what's known as a hybrid strategy for the cloud. it really read well. they are doing some terrific advising it's like an extension with a nice yield. i agree with you. we have a lot of good sauce stocks we just mentioned. unless we get some relief from the bond market everything is just a trade. treasury yields still, i think have a long way to go. i'm getting a look at the housing plan to see if this foundation does have a good yields. government spikes with lumbar giant warehouser plus after the busiest week of the season we are going to play

supply concerns in the middle east and that's leading to upside moves for oil and gas companies like halliburton and marathon oil. you can see they're north of 5% and two of the best-performing stocks in the s&p. northrop grumman and l3harris technologies. two defense contractors and those are very much in focus right now given the unrest and what it could mean for potential defense in armament spending. so northrop grumman shares are up 10.5% and l3 harris up 8.5% and arm holdings on the computer side of things and the arm reached the high of the day right after the ipo price and debut. it is down one-third of 1% today. $52.92. a slate of wall street firms all initiating coverage on arm holdings today. j.p. morgan, citigroup, mizuho, jefferies and everyone out there initiating with a buy rating and we'll have much more on that story later on in "tech check." now let's turn to the war in israel entering now its third day. nbc's kelly cobiella is in tel aviv with the latest here. kelly, what exactly is you tell us about where the tensions currently stand out there in israel? >> well, we're expect

halliburton too. joe in ohio, joe >> caller: hey, jim.genuine parts company. >> it's a good company it has a 3% yield. have i seen this yield as high as 5% because the stock has been lower. i think it's too early to commit to the level by the way, i do like autozone that continues to buy back stock left and right as we mentioned today on our home stretch for club members how about lee in virginia, lee >> caller: yes, calling from lexington, virginia. last home of robert e. lee. >> okay. >> caller: come visit us, jim. >> i like virginia nothing matter with that. >> caller: going on in the mountains. we'll show you around. >> okay. what's happening >> caller: it's hr, good management, good product. >> it, but it's an expensive stock. and in this market, we have to be very, very careful, because stocks are being divorced from the fundamentals and anything too expensive, it becomes in the thrall of the bond market. that's the problem with aehr teresa in kentucky, teresa >> caller: boo-yah, cramer for taking my call. >> my pleasure. >> caller:

dollar general, progressive, wells fargo, morgan, halliburton, as you would expect. >> right.daq winners. do i see any big tech on that risk? -- list? no. siriusxm, airbnb, baker hughes, regeneron. here's a key number, the yield on the 10-year treasury, where is it? that dictates a lot of the markets these days. you're down, 4.62%. of that helps the nasdaq, i suspect. >> yes, it does. it does. but look what happened yesterday we saw when they had that 30-year bond auction yesterday, there was no demand for it, and they had to sell it at low prices, yields up the 30 and the 10. and you expect the long end of the curve to react. as the temperature raises around the world, once again bonds head back up. on -- it presents an opportunity. stuart: 4.61 right now. let's go back to gold because that has been rallying recently. $1922 per ounce, it's up $40, that's 2%. bitcoin, hovering around $26-27,000, you're at 26, 8 as we speak. >>> all right, coming up, believe me, folks, it's not too late to be on the show today. don't forget to send many your friday feedback. i want it all. e-ma

no matter how much i like the oil stocks, i can't see pioneer, chevron and halliburton.y no to a portfolio of j&j, eli lilly, even as i like all companies, they leave you have to a health care risk that could overwhelm the group all at once. having an undiversified portfolio is not just an amateur mistake. many professionals don't like to be diversified because of the bizarre way money management works. if you concentrate in one sector and that sector takes off, you beat everybody. this is the nature of the business, even though i think it's ill founded. it's why cathie wood of ark invest could be the best for 2020 and the worst in 2022. her flagship arc innovation went almost all in on high-risk growth stocks. that's not diversified. and those stocks, they tend to trade as a group. but that one huge year in 2020 made her a household name. and once you're a household name, you do get it made in this business. don't get me wrong. cathie wood is great at picking higher growth risk stocks. i just want you to be a wear when you go all in on a diversified portfolio, it is lik

some service companies like halliburton as well. , but that's about it.is that there are confusing narratives and a lot of people don't believe any of them. so there's extremes. people who believe growth is strong, we have a soft landing and people who think we're going into a recession. these do not reconcile each other. if you think growth is too strong or going to be great. you would be interesting in something like cyclical stocks but they're not outperforming at all this year, not monthly, quarterly, anywhere. industrials and materials have been lagging throughout the year and aren't rallying much. if you think the economy is slowing down, there are people who think that. you think value stocks are doing better. they're a disaster all year. the s&p growth is 20%, value up 7%. nothing here. no conviction on any of the narratives right now. the only narrative with any conviction right now remains megacap tech i put up vanguard's megagrowth, this is the apples and amazons, the magnificent seven. this is up 32% on the year. interestingly, that's where th

oil fields services name halliburton came up on top. which directly impacts the equipment and services that you need. tracking crude closely with more than half of the revenue coming from oil production. across the sector, apa, coterra and eqt have the lowest correlation to gas prices. they're natural gas producers. back to you. >> pippa, carl mentioned gas prices. what's happening there? are they delinking? >> are we talking about natural gas or gasoline at the pump? >> both. what's happening with gasoline prices is we have seen the spread come down significantly. refiners have been turning out a lot to get exposure to diesel, the diesel prices which are hugely still up amid cuts from russia and saudi arabia in their oil production. refiners, their utilization rates are up and that means that gas, gasoline is being produced as a by-product as refiners keep that utilization up. >> got it. that answers it. thank you very much. >>> as we continue to watch the energy prices, the bottom of the list of the subsectors right now, regional bank