keith fitz-gerald and fund chairman dennis gartman. great to be with you this morning, let's take a look at the futures this morning because we are seeing market indicated lower. dow down by 135 at this point. we are looking ahead to big banks. kicking off fourth quarter earnings on friday and goldman sachs starting to layoff thousands of staff starting tomorrow. maria sat with ceo jamie dimon and here is what he had to say. >> we are still hiring and why people are being cautious and we can stop hiring by making the phone call. so far we are still in the hiring mode. we have a lot of growth plans. i tend not to stop growing because you have a recession even with the recession opens new branches that you are talking about, new country that you're talking about, it's good for shareholders in the long run, why would you delay it for a year or two? jackie: thoughts ahead of bank earnings? >> the biggest concern that i have is the yield curve remains inverted, inverted yield curves are deleterious to banks no question. the best thing that

lauren: bitcoin at 8,000 dollars says keith fitz-gerald at 9:31 on this monday morning. ers are angry because tesla announced these price cuts for new buyers, so for instance, if you're in the market for a high end model 3, the price was cut by 14% to just under $54,000. if you're in the market for the model y, it'll start at $53,000 for a cutoff 20%. the point is these cuts put the vehicles below that 55,000 dollars cap, so they are eligible for federal tax credits , right? that's great if you're in the market. >> yup. lauren: but then you have tesla owners who just bought them and they feel like they have been kicked in the mouth. some analysts say long term price cuts are good because it reignites volume. tesla is not the only game in town but what do you think, keith? >> well i think there's sort of both sides of the coin here, and given the fact we were just talking about bitcoin from a managerial standpoint it's a smart move because you want to boost sales volume, maintain market share. don't forget tesla just became the number one selling luxury brand in the united

fitz-gerald group keith principal keith fitz-gerald and mark tepper. you so much for being here. keith, kicking things off with you with market under pressure again this morning. look, we've had a pretty good beginning of the year and we want to ask you about that, investors are questioning whether or not microsoft will bust up the party tonight after the bell. company reported slowest sales growth in more six years for the quarter. there are concerns about demand cooling this year, of course, and according to fact set and the wall street journal the firm is expected to have the sales at 53.12 billion on net income of 17.2 billion, that would be down 8% on earnings and less than 3% growth on renew, keith, is that enough to make people believe that, in fact, it's time to get back into growth? >> well, you know, what's interesting it's horse to water scenarios. i've been saying for a long time this chat gbt thing is going to be google killer and the narrative is final surfacing. to me it's all short-term noise. i'm going to ignore it. i don't care what th

keith fitz-gerald is here and keith, talking of big tech it's a big week for earnings. focused on in particular? >> well, i've got to tell you, i'm focused on all of them, ashley, honestly but for very different reasons. the one that i want to accumulate that i hope i'm smart enough to buy more of is apple because that's the one charging into the future. i think meta is going to be the dog ate my homework, google has serious trouble and amazon is past its prime, pun absolutely intended. ashley: [laughter] past its prime, very good. okay, of course the other big story other than all of the earnings is the fed. they start their meeting tomorrow. what's your prediction? everyone thinks what, a 25 basis point hike, what do you think? >> well, i've gotta tell you. that's what the fed funds probabilities are being looking at, just looking at them before coming on the air 25 basis points, one-quarter of 1% is what most people are thinking but ash, i've got to believe the fed is just foolish enough that they may put 50 on the table anyway, just to demonstrate the very control t

stuart: have red ink on the left-hand side of the screen dow is up 200, the nasdaq up 100, keith fitzcher of the morning i want to look at the overall market, i want to look at tesla down over 70% over the last year, the last 12 months and down again this morning are you going to do any debt buying with tesla and if not why not. >> actually i am i been buying most of the way down and i may live to regret that move but what strikes me betting against musk is like betting against jobs back in the day the company is making the right moves in firing the right cylinders, he simply an easy target because of the controversy surrounding twitter and everything else is involved in. stuart: you are buying it and you will continue to buy at these levels, correct. >> i may live to regret it but i don't think so. again i read your stuff and i know that you believe oil goes above $100 a barrel, why do you think that and which stocks are you buying if it does go back up over $100, let me take the second question first hopefully i'll buy the stocks before goes to 100 because i want to get the ride tha

ed is with us on his buy list, keith fitz-gerald being opportunist ticks. tesla taking the jon najarian on the strategy you want to look at. gary black where he sees the stock going. justice department targeting google ad business. should d.c. take on the real check from big tech? kara frederick with us at 2:35. my takeaway, when it comes to leaving california you can check out anytime you want but your wallet can never leave. all that and so much more on "making money". ♪. charles: so yesterday the fear and greed index moved further into the greed area, right? as marked improvement from where we were at a year ago. we were at extreme, extreme fear a year ago. what is really amazing to me i think this gauge has it all wrong, right? i think another emotion is at work here. that's hope. hope you can read my crazy handwriting, this is really where we are. we're not at the greed farther. we're at the hope part, hope the worst is over, right? but maybe that names like microsoft could kind of help complete the rebound that began right as the calendar turned this

keith fitz-gerald joins us now.brokerages cut numbers because of delivery numbers because they missed. you say all the analysts pessimistic on tesla got it wrong. explain yourself. >> absolutely, happy to. these same analysts have been boo-hooing tesla for decades. that stock is up 4700% even with all the selling. you turn $1000 into $47,000. now here is the deal about that. this is not a car company. anybody who is thinking in terms of cars is already off the mark. it is a.i., it is electricity, it is a charging network. it is space. he rewired, pun absolutely intended rewired every industry he has touched. looking forward betting against elon musk at this juncture is a lot like betting against steve jobs back in the day and i wouldn't take that bet right now. lauren: there is a report, keith, that tesla filed paperwork to make electric motors for airplanes and boats. i imagine you think that broads the territory and that's a good move? >> well of course it does. again one of the things that people simply don't lik

joining me right now keith getsh fitz-gerald and ray wong. king things off with you, final trading day of the month. it's been a busy morning of earnings, mcdonalds crossing the tape, double beat there, caterpillar reported miss on earnings but beat on revenue. he would you assess the earnings period so far? >> about what i expected, frankly, maria. you see the real split in the companies that will survive and prosper and those who won't. for example, you look at ups, fedex under extreme pressure and general motors which defies me but that's great, but i love mcdonalds because that tells me consumer has more u mpf, they are leader in automation they just happen to make hamburgers. maria: what about t -- the inflation story within mcdonalds. would you put money to work because of power? >> that's what i'm hoping to do, i will let the front burn off in the couple of days. a company i liked in the past. unfortunately i missed the last run and again the consumers are shifting to them because of all the inflation elsewhere in the system because it'

chairman and nc state endowment committee member dennis gartman and the fitzgerald group principal keith fitzd. good morning and happy new year to you both. keith, i will start with you. futures in the green as we kick off trading day of 2023 but the dow indicated higher by 92 where we saw a substantial bum when we started the show. given some of the gains there, i'm wondering what you're expecting today and for the rest of -- of the first quarter in january because this typically ends up being a slow time for the markets. >> well, it does, happy new year, thanks for having me back. great to be here. i would love to see today finish in the green just because of the psychology of having green. unfortunately i'm skeptical. then we will see a stronger finish into the end of the year. jackie: yeah, i hear you on that. dennis, i wanted to ask you about the fed because we have the first meeting of the year kicking off on january 31st, the fed saying it sees rates topping 5% in 2023 and you have fo mc minutes from the december meeting. they are out tomorrow. give me expectations and what the minutes

let's get to the floor show joining me ryan payne and keith fitz-gerald. keith are you selling into the week-long rally, buying or sidelining? >> i am buying very selectively and i'm sticking with the names that i know best that are putting the numbers on the board tesla is big for me i've owned it for a long time. people laugh in my face when i said you better be buying and they aren't laughing now. liz: can i make a point about that and i don't know if you were able to see this but man, tesla has been on an incredible role, so when did you start, did you ladder in, tell our viewers how you did that. >> well sure. i believe that you control risk before you buy so i used something called position sizing i control the pace of my buying so i've been buying as that things been declining all the way along and accelerated that in recent weeks because my sense is that the stock was totally under valued, price divorced from the reality of the situation, and i think the companies got a bright future. the only problem is i may not own enough. liz: you are so right t

keith fitz-gerald joins us right now. th, in the past, you bought dips in technology stocks are you still buying any dips in technology stocks? >> absolutely, stuart. it doesn't feel good. it's scary. you grit your teeth, but this is how you make the big bucks. buy low and sell high, eventually. stuart: now a lot of folks on the show have been saying look, don't expect a real rally in stocks until the middle of this year. we'll reach a bottom in the next few months and then we start going up in the middle of the year. what do you say to that? >> well, you and i have talked about that a couple times and i stick by that. i think the fed is going to be forced to pivot about mid-june or so and at that point it's going to remove a lot of the currency headwinds, the rate headwinds, technology is going to get a nice boost and the time to buy is when everybody else is looking the other direction. stuart: um, any particular technology companies in mind? you don't have to pick out microsoft, just because of me. >> [laughter] well, i

keith fitz. we need to do stock picking here. microsoft, tesla, visa, start please with microsoft. much do you like them? >> absolutely, thank you as always having me back. microsoft is arguably one of the greatest companies in the history of the stock market. the key will be what executives have to say particularly with regard to the chatgpt. they will integrate it in every office suite that companies, massive data launching. i own a fair amount of it. i hope i'm smart enough to own more of it. tesla same thing, like jobs in early day. they're apple in reverse, stuart. they're building the plat form out, now they do everything through software updates. that makes it a tech company with wheels. in particularly with regard to europe, i want to see what the volume spend is if it dropped there, that is sort of a canary in the coal mine what happened here. stuart: let me go back to microsoft for a second. seems the most important part of their report comes comes out wednesday afternoon, tuesday afternoon, 4:00. the most important part is the call. when executives get on with analysts a

does it go back to as keith fitz-gerald told us earlier, potential 8,000 or does it go back up near record000? >> i'm more in keith's camp. crypto is a risk assets. let's like not sugar coat it. it's up 25% or 26% this year but down 77% last year. that is a volatile asset, and look, a lot of the shorts have been cleared out but let's call bitcoin what it is. it doesn't have utility, it's not backed by taxpayer dollars, and it's soon to face severe competition from central banks, so i know i'm raining on the parade of a lot of the nextgen investors and i apologize but the secular bear for crypto is in its early innings. lauren: wow. all right, well you know what? you're honest. jason altz, thank you. enjoy your day in new york city. i was envisioning you somewhere else. i couldn't see the buildings that clearly. well, people in china are heading back to their hometowns for the lunar new year and that's raising concerns of another covid outbreak there, and experts are nervous about people leaving their big cities where they have hospitals, et cetera, and spreading covid in their small hometo

director gerard cassidy, he's got an outperform on bank of america and jpmorgan, and our friend keith fitz if gerald of the fits if gerald group. -- fitzgerald group. gerard, give me your grade for the banks that have reported so far because, on the surface, they all beat estimates. dig deeper for our viewers. >> well, liz, what we saw in this quarter which we were anticipating considering that the fed has moved so aggressively in raising short-term interest rates was higher net interest margins which led to much stronger net interest revenue growth. so when you look at how they beat their numbers, generally the banks that reported today reported better than expected -- income growth, partially offset by -- [audio difficulty] slightly below nonif interest income or fee income growth. and as you might imagine, the fee income business was impacted by the investment banking business which, of course, was very weak mt. quarter. but overall, the results that came in benefited from better loan growth and better margins which led to this stronger net interest income growth. liz: keith fitzgerald,