john stilts -- john stoltzfus, oppenheimer chief investment strategist. take you to moscow. there's a press conference currently taking place. russian president vladimir putin is hosting outgoing german chancellor angela merkel. merkel speaking right now, talking about what she has discussed with vladimir putin. remember, she speaks russian. apparently telling putin that the navalny impressment is unacceptable -- navalny imprisonment is on except will. she goes to ukraine this weekend. vladimir putin talking about the fact that he and merkel discussed belarus, ukraine, and iran. they also, of course, discussed what was happening in afghanistan. alix: the countdown continues to merkel leaving office and the election. this really encompasses the conversations we have had in the last half-hour. on the call, deere saying supply chain challenges are going to continue into 2022. costs will become more challenged in the fourth quarter. it feels like they may have blown the lights out on this quarter. they may have pricing control this quarter. but coming up, the

jonathan: john stoltzfus of oppenheimer. good morning.loomberg. ♪ and there you have it - wireless on the fastest, most reliable network. wow! big deal! we get unlimited for just $30 bucks. i get that too and mine has 5g included. impressive. impressive is saving four hundred bucks a year. four bucks? that's tough to beat. relax people, my wireless is crushing it. okay, that's because you all have xfinity mobile. it's wireless so good, it keeps one upping itself. >> i would argue the labor market is as tight, if not tighter, than any we have seen in decades. >> we are already in an economy that has seen peak growth on a quarter to quarter basis, and it is beginning to slow. >> we are seeing the fed move a little bit faster, little further to pull back on these purchases. >> the market has the view that if the fed starts hiking, they will not be able to get may rate hikes actually done. >> it will take a long time to realize that something fundamental has changed. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa

joining us is our friend john stoltzfus. , very quickly you are not an individual stock name microsoft. you think tech is still a good place to invest? big tech >> we believe in tech. we think we're not going back to the abacus or slide rule we think tech has further to go. we believe our call in plamay h worked out well for us particularly large ap. >> not investing in daisywheel printing companies or others do you worry that some of the companies, john, as great as they may be, are getting a little hot 22 or 25 times the earnings in some cases they better perform. >> without a doubt, brian. they have got to perform we think they are in a sweet spot we have gone from hardware to software to screenware we have to consider the cycle is alive very much for tech we have investors with a broader appetite for equities, growth and value. we like to say we want igrowthi. we believe interest rates are still near historical lows as a result of that, that supports the levels the stocks are trading on. >> on your clients asking you abou