at pivotal advisers josh brown along with joe terranova and jon in a square want the fed meeting is in focus and of course the comments today from paul tudor jones on "squawk box" this morning. nasdaq is actually positive. joe, ptj, this week's fed meeting is the most important of jay powell's tenure. he said the fed is juicing an already red-hot economy. let's listen and then we'll react. >> watch the fed on wednesday. if they treat these numbers, which were material events if they treat them with nonshah lance, i think it's a green light to bet heavily on every inflation trade. the idea that inflation is transitory, to me, is -- that one just doesn't work the way i see the world. >> i mean, this hit it, joe, on so many levels the only thing i know for certain i want 5% gold, 5% bitcoin, 5% cash, 5% commodity, not sure about the other 80% what do we think >> i think we're going to see further inflation. i think the federal reserve will remain anchored at the meeting on wednesday i don't think you're going to receive a tapered timeline i think the federal reserve is still looking at xw

joe terranova, you are up first. >> molson. >> tjx down 5% year to date.ling card in the business >> sticking with roblox, down 20% in the last month. >> farmer jim? >> boeing is ready to soar >> and jon najarian. >> far fetch >> good stuff. today was fun. tomorrow is day two of "the halftime report. stock summit, they lay out their picks, give you their favorite sectors, react to the markets too, which are having a nice snap back today. we see the dow better than 500 points, s&p pushing 50 "the exchange" begins right now. >>> thank you very much, scott hi, everybody. i'm kelly evans. here's what's ahead today. dot shock and the debate. sending the bond market the other way as yields hit multimonth lows. we'll discuss that and what it means for stocks >>> plus it's amazon's prime day and while the products might be cheap, the stock has been the real bargain over the years. we've got three names that could be the next big scorers. >>> and the chicken wing shortage is getting so bad that wing stop is launching thigh

we don't have to worry anymore i think is being a bit naive about the reality of the data. >> joe terranova has a question for you, professor joe? >> dr. siegel, there's a puzzle that we all have what is the message in a ten-year treasury that's pricing at 1.48 and what would be the message, what should we interpret post fed if we see a 1.35 ten-year treasury >> well, if we see a 1.35, that means i am really going to be wrong, right i am not going to be scared of that and those dots are not really going to substantially move forward. i actually think the decline of the last two or three weeks has more to do, honestly, with the fall-through of the infrastructure plan, which was supposed to add over $2 trillion of spending and put pressure on the bond market. that has dimmed -- i think that's a more major movement for the decline in seeing my goodness, inflation is not our worry anymore. that's how i explain the decline over the last two or three weeks. truth of the matter, we are never -- you know, interest rates are going to be perm permanently lower than we had been used to back when i was

joining me for the hour kari firestone, ceo jim lebenthal, steve weiss, joe terranova, good to see everybody. let's go to the wall stocks pretty much trying to get to highs of the day. dow is up 71 s&p is good for 12 nasdaq is good for 32. there is energy, because it is once again one of the best sectors today, up 1.5% that is the best trade of the year joe terranova, your wheelhouse i don't care that oil only accounts for 3% of the s&p, so don't tell me that i care that oil is up 40% year to date andit is having the best year ever i want to know from you how we can make some money given we have already seen those kinds of gains. >> okay. well, you could expect that the price of oil is going to continue to move higher. in october of 2018 it reached 76.90. it is going there this time, this year. the overall allocation towards energy right now is either at an equal weight or you can make the argument that it is underweight. a lot of that is predicated upon esg as an obstacle >> that's right. >> but the fundamental story, scott -- >> a lot of haters a lot of haters, joe you know that. >> a lot

. >> joe terranova has something, and then steve, i'll give you the last word. joe, go ahead. >> rick, we have seen an increase in speculation. i'll let you pick the area of the market, traditional or not, where you can find it, but do you think the remove of some liquidity will temper that speculation? >> i think the shadow banking, the way it's broadly defined, i think it's hard to see, but where we see a lot of the high-quality assets trading, they're trading too rich when the fed creates its crowding out, there's a huge amount of money that needs to hold safe fixed income it allows the financials down the capital structure. i don't think it makes a difference really in terms of the markets, but if you start paring back some of the excessive liquidity it's the overheating of financial conditions being too easy that creates some of these anomalies in the past that can be dangerous. >> on that note, steve, as i turn to you for the last word, the fed has to take great comfort, i would bet, the name of some of these overheated have corrected. the spac market is no

joining me for the hour kari firestone, ceo jim lebenthal, steve weiss, joe terranova, good to see everybodyretty much trying to get to highs of the day. dow is up 71 s&p is good for 12 nasdaq is good for 32. there is energy, because it is once again one of the best sectors today, up 1.5% that is the best trade of the year joe terranova, your wheelhouse i don'ca

joe terranova, j.j.u for joining us. >>> still ahead, hollywood mogul jeffrey katzenberg on his move to joining the board of aura. >>> plus domino's has been testing self-driving pizza delivery with nuro since april now nuro is teaming up with fedex. we'll speak with the president and co-founder in just a few minutes. we are back in 90 seconds. ♪ ♪ i had the nightmare again maxine. the world was out of wonka bars... relax. you just need digital workflows. they help keep everyone supplied and happy, proactively. let's workflow it. then you can stop having those nightmares. no, i would miss them too much. whatever you business is facing... let's workflow it. servicenow. >>> there's a new unicorn in town aura just raised $150 million led by board member jeffrey katzenberg they are valued at more than a billion dollars. jeffrey joins us now in an exclusive interview, along with the founder and ceo of aura. very good afternoon to you both. it's great to see you. hari, i'll start with you if i may. give us a q

at pivotal advisers josh brown along with joe terranova and jon in a square want the fed meeting i

joining me, stephanie link, stiff annie mcghee, joe terranova, josh brown, jon najarian good to see everybody dow and the s&p briefly trading above the may 7th closing high nasdaq has gone negative s&p is holding on by only by three points dow is more than half away from the best gains of the day, still go

joe terranova. steve weiss and a great money manager. he has one of the more entertaining instagram feeds you'll ever see. let's check the markets, folks the s&p 500, nasdaq. nasdaq 100 all at new record highs. plus tech and health care also in record territory.

joe terranova. steve weiss and a great money manager. he has one of the more entertaining instagram feeds you'll ever see. let's check the markets, folks the s&p 500, nasdaq. nasdaq 100 all at new record highs. plus tech and health care also in record territory. let's start with tech and the growth stocks. joe, why don't i kick it off with you why has tech turned around the way it has over the past week or so or maybe longer. >> tyler, good to see you this afternoon. well, you've seen the return of mega cap technology over the last four weeks. and it's really because we're seeing a pullback in yields. and that's been the story tyler. so a lot of positioning and rotating between different styles and strategies and i think if you're doing that, it might be somewhat frustrating. tyler, so far, year to daerkts s&p value is up 14.7%. s&p growth is up 13.3% so while everyone tries to struggle and debate between growth or value, maybe the right answer to that question is yes >> tell me why -- just explain in sort of freshman economics terms why

. >> joe terranova, what do you think about this trade and this big bet, whether it is through the ezu etf or multi-national stocks like steph said or through santander as cramer was talking about? >> i agree with it the vgk is up nearly 11% in this quarter. that's probably double what we're getting from the s&p 500 a lot of it, scott, is on the improvement in covid trends, which were lagging relative to the u.s., so you're seeing, to steph's point, yields which have improved dramatically. a german ten-year actually got close to getting back from negative territory, but you have to believe in banks. there's a reason to believe in banks. you have to believe in life insurance companies. you have to believe in automobile producers because that's really what the composition of the equities market is in europe, but they have the momentum right now. they have the improving covid trends i don't disagree with investing there. >> jim, last word to you on this before we do go to a break 30 seconds the vgk as joe was talking about, new high today, 52-week high. >> i would still buy it. i think it

joining me, stephanie link, stiff annie mcghee, joe terranova, josh brown, jon najarian good to see everybody today. let's go to the washington and check stocks the dow and the s&p briefly trading above the may 7th closing high nasdaq has gone negative s&p is holding on by only by three points dow is more than half away from the best gains of the day, still god for 128. joe, what i want to know, history is not kind to june, but as we start now really to think about trading in the summer, are we going to have that summer surge? what do you think? >> i think we have the summer surge if we can finally get small cap participation. you mentioned recent highs if you study the all-time intraday highs you will find the s&p, the dow and the nasdaq have all reached that within the last five weeks, but you have to go back to march 15 to find that for the russell and small cap. we need small caps to play catch-up here. we need some confirmation, candidly, scott, as it relates to treasury yields if this cyclical orientation is going to be validated i said to patty before, i think the market is a little di

joe terranova. pete najarian. the dow on track for the first negative month over the past five as you see there rallying 131 points so far today. s&p on pace for a fifth straight month of positive gains. and its best first half since all the way back in 2019 it was not a very good first half last year as you recall the nasdaq pacing for a seventh positive month in eight. meanwhile yields moving lower. the benchmark 10-year note hitting 1.45%. also, waiting this hour on the first trade of didi global it's the biggest u.s. share offering by a chinese company since alibaba. but i'll focus on this hour is what's ahead for stocks in the second half of the year? megan, why don't i start with you. what do you think? >> well, we're still optimistic. we've had a great start to the year, a great first half we think there is further gains to be had for equities i don't think it will match what we have seen the last six months or 12 months certainly but we are still constructive. i think tld be really important to watch what