and jeremy siegel talking about markets. do not go anywhere. is realtime insights. i am here with ey america's vice strapblg de. how are you seeing this play out. >> we are seeing an adoption of artificial intelligence and today's deals, you have more data than time so we are using ai to catalogue and query data to make sure no stone is left unturned. >> what does that look like in practice? >> if you think of target identification. we use ai to understand the full competitive landscape and who is buying who, but it's not just about buying your competitors, and case in point, 2,000 tech deals and many were not tech companies. >> talk to me about how it's benefiting your clients? >> we are able to use advanced algorithms to analyze massive amounts of data, and there's market preferences and financial performance. these things were never possible in the past. >> thank you so much for sharing your expertise. >> thank you for having me. >>> okay, updating and recapping the news out a little earlier, the hotel news out this morning. choice hotels is

jeremy siegel joins us this morning to discuss. professor, great to see you.rious about your views with what we've been discussing the separation between the movement in yields versus inflation products, break even, do you think that's largely technical and how much can it get reversed? >> well, i think the economy is still very strong. take a look at this ism report. you know, certainly is -- was above expectations. system of third quarter gdp are north of 3.5%. i mean, some like the gdp now are north of 4. i think this economy is cooking. the economic surprises, some of them, have been negative, but on the whole, we have a strong economy. and, of course, the rising oil prices which is really a supply shock because opec i think is at a record restriction from their capacity. don't forget bond holders look at overall inflation. they don't just look at core inflation. core inflation might be doing good. overall inflation could be affected by the oil prices. you know, i think that the higher yields, that's what's been pressuring the equity markets. i think the r

i always go back to jeremy siegel's chart that shows 210 years of gold inflation adjusted $1 200 years that's not a great return. yeah, i'm not excited about that. all right. let's go to better actual ideas. al, what do you have for us? i'm a believer in the commercial aerospace recovery. in april, domestic travel started to eclipse pre-pandemic levels as international travel still lagging a bit behind. but more planes in the air mean more repair costs, more parts needed. so that's a company r and the ticker is air does a lot of this. they fix and supply parts for engines that are coming back for service. that's a good stock. all righty. i'm doing my part. i'm flying internationally to australia next week for barron's. carlton is going to be in the seat. what do you have for us, ben? i'm looking at agco. it's combining its ag tech business with that of a company called trimble, and it's going to make it a better competitor with deere, the best part about this is that agco trades at just seven times earnings. deere is 11.4. this is going to help those valuations come back together. it's

wharton, jeremy siegel, professor emeritus, better say that, at university of pennsylvania's wharton going to preview the week. i you were bearish for a little while, but in your lifetime if it was 800 in 1982, and we're now -- you know, where we are in the 30,000 plus, it'd pay to be bullish most of the time, i think, jeremy. >> oh, it pays to be bullish long-term all the time >> right >> in the stock market big surprise, i'm not in favor of mike wilson's prediction here. >> you think we will rally i saw that. >> yeah. >> in a way i say thank goodness october is nearly over actually, in the last 25 years, i looked up the data, november is the second best month of the year, just slightly behind april, which is the first best mont month, so i do think we're going to have a year-end rally over here coming up i agree with roger ferguson, i heard him earlier on your show i mean, the fed is not going to do anything on wednesday, and they're going to leave the door open they're just going to say the evolving data. we still have six more weeks until the next meeting we don't know, you know,

let's ask the wharton school professor jeremy siegel who joins us from philadelphia. always good it see and talk to you. >> good to see you, scott. >> you know, market is changing and a lot of people are concerned we're in the most of moving lower because rates move higher. how concerned are you right now? >> well, i think there should be no question now that fed should be done. we've had almost 50 basis points of tightening on the long end since last meeting and by the way, tightening on the long end is far more powerful at restraining spending than at the short end. so, you know, given the uncertainties, again, another -- they're going to have the meeting november 1st, two weeks later another potential government shutdown, uaw, all those uncertainties on top of that. all that said the real economy is still, you know, going like fire. goldman sachs is near 4% on third quarter. the atlanta fed gdp is near 5%. we haven't seen these figures for a long time. the economy is chugging and that's one of the major reasons why yields are going up because strock strong economic

. >>> all right, 3:00, "closing bell," jeremy siegel, the professor with me.nd bill miller iv will be with us. i hope you join me. we'll see what the market will do. >>> let's do final trade. farmer jim? >> exxon mobil, this seems like the easy button. buying back shares, and it's on sale. >> carrie? >> fortive. mid cap tech name. it's come down. we buy here. >> crowdstrike, look for the names in your portfolio that are stronger. those will have the best move. >>> good stuff. i'll see you in a couple hours, "the exchange" is now. >>> thank you, scott. in the tug of wars, the jobs report tomorrow morning could dictate the next move. our next guest says stocks and yields are both heading lower here. >> he's here to tell us what he means by that. >>> home builders have been in the sweet spot, and their able to buy down rates. is it time to bail? >>

liz: a major line up to break down the fed decision, joe lonsdale, wharton school professor jeremy siegel match. joining us chief strategist at lpl financial management quincy krosby. the day before we want to get inside of your investment brain to find out where you're putting clients money, quincy? >> overweight fixed income. we like high quality investment grade corporates. they are giving you a nice return and we like preferreds but mainly for big, healthy, money center banks. they're giving a nice return as well but in terms of equities we're long, we're long energy and we're also long the industrials. industrials have pulled. defense spending, defense stocks are part of the industrials and we think they're going to get a nice boost as congress finally begins to sit down and work and comes up with a supplemental for the defense names. liz: package for israel, possibly ukraine, around 14 billion. we're looking at some of the defense names. they are still down year-to-date even though they have seen a recent pop. general dynamics, lockheed martin, raytheon, hii, all these names, when y

jeremy siegel but a new edition of stocks for the long run.n it he says the long rated return of the stock market is 8% f you get 5 1/2% in money market fund, half the 2/3 of the stock market gain with no risk. the stock market can't give you 8% in so so earnings. it has to do better than to attract money and go higher. charles: by the way since you brought that up i brought attention to the tiny sliver, dividends, when people are getting this yield, they no longer need to rely on utility dividend stocks. they are taking it on the chin when they usually do well this environment. the 200-day moving average, we were a little bit below a little bit above it. call it 4200. resistance at -- break out at 4600. this to me is the moment of truth. what happens if we start to break out from unthere because i think we can trigger some big selling as well? >> i agree. 200-day moving average is like technicians like to use, is it is it stock market above or below the 200-day moving average. we're right at it. if we go below it the market starts moving down

wharton's jeremy siegel on how higher yields fit in his market perspective.away. [ clock ticking ] we're going to have so much fun. >>> good monday morning. welcome to another hour of "squawk on the street." i'm sara eisen with carl quintanilla and david faber, live for you as always from post nine of the new york stock exchange. take a look at stocks here early monday morning after a down week on wall street last week. we're lower, but again off the lows of the morning be and there are pockets of strength there. on the right,industrials, health care communication services all green. everybody else is red. energy at the bottom of the list after the big deal we'll talk about. consumer discretionary under performing ahead of some big tech earnings this week. number of sectors on the move as you can see and treasuries got to include it at the top of the list. the 10-year yield above 5% earlier in the session below 5% but as you can see elevated across the curve. we're 30 minutes in the trading session. three movers we're watching. chevron one of the worst perfor

jeremy siegel updated his great books for stocks in the long run this new addition this year.he stock work is eight sent. -- 8%. if i get five in a money market and five in a bond fund i'm getting two thirds of the stock market game with no real market -- much reduced market risk. so the stock market has to do something more than we beat and things are somewhat bright and they've got to do better than that because there is an alternative now and it starts with the 5% money market fund area tom: you're one of the few people i can talk with this about. your remember when there was a chemical rollout. everyone ripped apart companies that made chemicals and said here is what is special, it was basically a zombie roll up. and productive companies as well. are we had a point because of a new real yield and the cost of capital permeating the system that we get a great merger-thon? jim: i don't think we will get a great merger yet because people are really misreading the yields. they are not ready to react on it because you hear this battle cry that real yields 2.5% on the 10 year tip

jeremy siegel said this is a university at wharton, they threw somebody out for calling somebody elseght them in. what do you want? >> i agree with jeremy that we need consistency. also, you need leadership. we had a mistake here. i don't think there's any one involved with the university. >> the mistake is allowing the speakers to come associated with terrorism and anti-semitic? >> yes. you make mistakes at home and at universities. once you became aware of the mistake, you admit it and deal with it. there were wishy-washy words. anti-semitic rechetoric has no place. the rhetoric we see today is different from three weeks ago. it is too bad we had the events in the middle east for that to move closer to what we all know is, you know, the moral basis that we live by which is there is no place for terrorism. >> you are like a voice in the wilderness. i see some of the demonstrations and take the one that one of our congress members who was at the demonstration. carried away screaming about the hospital and even though by all indications, i think, we can probably trust our own intellige