we get to cap off the week with kari firestone. the executive chair of aureaus asset management.ings we can talk about on your resume. >> thank you for having me. >> let's talk about the q2 picture. it has gotten a little dicey the last few days. you are finding opportunities amid the wreckage. >> first of all, thank you so much for having me here. this was not unexpected. when you have a market that goes up 27% from the middle of october to the end of the first quarter, you have to expect there could be some correction. particularly in names that have just been hyperbolic. we took money off the table in a number of names. not that we don't like them, but they got too big for the portfolio or somewhat overpriced. >> where have you been trimming? >> for example, home depot, sherman williams, hamilton, o'reilly auto. these are great companies, but these stories are predicated on the rates going down. the market has believed interest rates would come down several times this year. the market has a tendency to overreact on macro news that they feel must be embedded in the future. now

we do have the investment committee with me as well here in new york city, josh brown, kari firestone and steve weiss are here with me watching the markets bounce back a little bit after the worst day, josh, in nearly a month. so you have rates are rising, anxieties are, too, as we talk about rate cuts and maybe not as many, bostic weighing in again. one cut this year and maybe again in the fourth quarter. >> it's interesting because when i take the market's temperature, one of the things i want to look at is just to get a sense of where rsis are, where is the relative strength, what's overheating, and what is gaining momentum. when we look at the s&p 500, 7% of the s&p 500 componentshave advanced three days in a row. that's almost nothing. the market is almost completely stalled out here. that's below the average reading which is 12%. keep in mind, as late as mid-march, that was at 45%. we've had a huge move in the amount of stocks that are making highs, that are advancing, that are trading higher. the russell is a different story, judge. when you think about the russell 2000 right n

. >> tomorrow, we have kari firestone closing out our week for the second quarter.stay tuned for that. >>> let's get a check of the top corporate stories with silvana henao. silvana. >> whats app is back up after the outage yesterday. data from down detecter shows the peak of the outage impacted 24,000 whatsapp users. >>> exxonmobil expects weaker oil and gas prices to hit first quarter profits. in a securities filing, the company citing a big loss in fuel derivatives. the drop follows two years of strong oil and gas prices. last year, exxonmobil reported a record first quarter profit of $11 billion. the company will report the full results on april 26th. >>> the boeing chairman is reaching out directly to the heads of the u.s. airlines to rebuild trust. the former ceo of qualcomm and former boeing board member is trying to smooth over strained relations who said the biggest management shakeup ever. they all announced departures last week in the wake of the alaska airlines door pan el blowout. >> a grassroots approach to getting customers back. silvana henao, thank

joining me now is kari firestone from aureus asset management >> nice to see you, frank. >> what do you of the reaction right now again, futures are lower, but pulling back from steeper lows earlier right after the attacks. >> frank, i think it is a sign of the level of the reaction it was as israel characterized it as a weak response. it was not an all-out military effort i think the market should feel relieved about that. the market is jittery, which is my word, and very concerned about the escalation of the war between israel and iran. for israel to have essentially detonated iran's military action and now whatever has happened here has not resulted in much destruction, if anything, because it is not reported yet, is a good sign for the world and the market >> okay. tech has been under pressure it seems like it started when we saw a thing now when it comes to the fed rate cuts. i know you are watching one stock that you say is the most important one in the market. nvidia tech nically in correction territory. what does it say to you about the broader market >> the market has been foll

joining me josh brown, kari firestone, bill baruch and liz young. let's check the markets. we're green across the board today. we do have a nice rebound. rates are down. oil is holding steady. the dollar is weaker. all of that is playing into this story. we do want to begin with significant moves from kari today, which we're going to show you on our wall, at least the beginning of, because you've trimmed a number of big-name stocks, many of which have done quite well, and that probably leads into why you're trimming them. let's show the wall as we track your trades. you've trimmed home depot, amex, booz and sherwin williams. >> we're up 28% since the middle of october, and these stocks have participated dramatically. some of them on the basis of interest rates perhaps coming down. now we may not have that rate cut as quickly as expected, so why not take some profit. i think, by and large, we're talking about housing related stocks, defense, banking. i mean, finance, amex, all-time high. we trimmed them. >> are you -- i almost feel like you're also suggesting that stocks tha