kenny polcari i want to bring you into the conversation. boy this is one jittery market now you have the s&p and the nasdaq back in positive territory. like i said at the top of the show folks you need to stay with us this whole final hour, because so many headlines are going to be popping up as we are in the thick of the mid-term elections. we also have disney reporting after the bell. some of the bigger names, amc is coming out too so kenny, it's almost like you need the dr. s eusse eyes one going this way, one going that way, talk to us about what you as a trader are looking at the moment trying to focus upon. >> listen, i think today and actually probably the rest of the week quite honestly is going to be about what's happening, the elections, are we going to get results, are we going to know where we're going by tomorrow or friday or is it dragged out for weeks to come. i think that's some of the concern, but i do think what the market is telling you is that it is expecting a split congress, which i actually think is the best outcome,

maria: well said. >> senator it is kenny polcari thank you. y: there is a -- i was expecting a different outcome from election i got to ask where did gop drop the ball? because according to all polls there was big wave and nothing that mimic adbig wave at all appears to me gop just completely dropped the ball. >> well first of all being in this business only a couple years i saw things i never thought would i see in this country. the democrats just flat-out lying of what they what we are going to do what they were going to do medicaid social security nobody likes wants to did he have medicaid social security more than republicans it is -- it is in trouble, it is in trouble what rick scott brought up in trouble we need to address it where we can safer it for everybody, both will be out of business, in the 8 to 10 years if we don't make some kind of tough addition. >> understood we allowed or gop allowed the democrats to take control of that conversation! >> well, i understand that -- this was a 50 state vote all over the country, i tell you with

kenny polcari on a big rally, morning mover johnson & johnson, agreeing to buy hart device maker abe all cash detail valued at 16.6 billion, abe o med skyrocketing, jnj paying 380 a share up front plus extra 35 dollars if certain conditions met, abiomed empower heart pumps for clogged arteries, stock up 52 a percent on the buy, jnj down half a percent a week away from midterm elections president biden, presence is largely muted in the run-up to the election, tennessee senator bill hagerty is here. >> ♪ now that thing that i said got their heads -- that i want, they don't know what the spirit is like. ♪ . i remember when i first started flying, and we would experience turbulence. i would watch the flight attendants. if they're not nervous, then i'm not going to be nervous. financially, i'm the flight attendant in that situation. the relief that comes over people once they know they've got a guide to help them through, i definitely feel privileged to be in that position. ♪ what if “just an idea” could become a family tradition? this is financial security. and lincoln financial solution

kenny polcari, cooking with kenny. this will have to be a regular segment.y, great to see you, enjoy your leftovers. >> happy thanksgiving to you. ashley: happy thanksgiving, kenny. thank you so much. >>> now this, i think it's ye, you pronounce it ye, formerly known as kanye west, just revealed that he asked former president trump to be his running mate in 2024. watch this. >> i think the thing that trump was most perturb thed about, me asking him to be my vice president. i think that was, like, lower on the list of things that caught him off guard. when trump started basically screaming at me at the table, telling me i was going to lose, i mean, has that ever worked for anyone in history -- [laughter] >> you're gonna lose. tell him -- >> i'm, like, hold on, hold on, you're talking to ye. ashley: you're talking to ye. the a rap mogul dubbed the video the mar-a-lago debrief. he gave his side of what happened with the former president. what an interesting duo they make. >>> it's time for the friday trivia question. the term black friday originated in which ci

kenny polcari is joining us this morning. kenny, is the economy stronger than we think?t do you make of this jobs report? >> listen, i think the jobs report is clearly suggesting that it's not slowing down at all, and it leaves jay powell in that position to remain on course, right? it's a strong number. he wanted to see less jobs. he wanted to see wages come down he wanted to see year-over-year wages come down, and he hasn't, this job report certainly didn't provide that, and so therefore it's going to keep the pressure on the fed, so while the economy is hot, it's doing exactly what he doesn't want it to do. ashley: so why are the futures up 300 points on the dow? i thought this kind of good economic news is bad news because the fed, to your point, can continue to raise rates at a fast pace. >> because what i think it confirms is that what jay powell said the other day. he said that he's focused on inflation, they aren't going to take their foot off the gas until they've done it so everyone needs to just take a step back and let them do what they are going to do. this

kenny polcari, paul schatz, kathryn rooney vera are here to guide you through the turmoil. new ftx new ceo. he went through some of the biggest bankruptcies including enron. he said he has never seen anything as bad as ftx. there are new concerns that the close ties of sam bankman-fried and his inner circle had with the democrat party. has elon musk solved the quiet quitting happening at twitter? beverly hallberg gives her take on this at 2:45. plus we're one week away from thank giving. what are you thankful for? tweet me @cherylcasone. later in the hour i will share with you what i am giving thanks for. of the all that and more on "making money". ♪. cheryl: the market paring their losses after hawkish comments earlier in the session by st. louis fed president james bullard he said rate hikes have only limited effects on inflation, around should go to 5 to 7% rate. he had chart. kenny polcari is with us. bond yields spiked on bullard. he had a big chart he was showing. the yield curve inversion at its steepest in 22 years. the biggest question, does this predict or guarran

bat out of hell and i'm looking at the names leading the way and guess who i'm thinking about kenny polcarie are the names you've been buying these names, the amazons taking off, the microsofts are taking off, and so i guess the question right now is you think folks are just in there by ing knee jerk, sort of buying weakness for a trade or maybe there's something sticky about this. >> no, i think this is a little bit different. i think there are certainly some people buying for a trade but i think there are other people that saw these stocks that were completely dislocated for no apparent reason. yes they were raising money, i get it but they weren't dislocated because any one negotiation news, they were dislocated because asset manager s were trying to raise money really quickly and you can easily raise money in these stocks and they end up being dislocated so today's reaction, the market is really taking back all of what it lost yesterday and then some but it provided an opportunity in those big names that you and i have been talking about for the long term investment or so it's not surpr

kenny polcari. >> have a good weekend. stu: i l i promise you. looking at movers. wynn resort it.s up . >>> china has close context of people infected and inbound travelers both get cut by two days. so you still have to quarantine but not as long and limited the penalty of airlines that bring in passengers 6789 stu: that covid thing in china. walgreens on the upside nearly 3%. the story. lauren: says they're going all the way to 50 and analysts met with management and like that deal that links village md with citi md and will help walgreens really in the primary care business. stu: i max, is that the big huge giant screen people? lauren: yes. stu: i get seasick. lauren: really? i would say there's hardly anything playing right now that's attractive. i was looking to take the kids tonight and i'm like, oh, gosh. this is tough. web bush said it's going to get better and added i max to best idea list and say they're going to $20. a theatrical rebound and hopeful it'll happen here and in china. stu: student debt borrowers. they're talking about how they're going to use their extra cas

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joining me now, strategic resource group managing director burt flickinger and and kenny polcari, our trader. kenny, i want to begin with you. a lot of attention going to talking heads, talking fedheads, but there's breaking news on the dollar as well. we've got the euro hitting a session high against the green barak and on friday the -- greenback. so that's got to be playing into this, right? >> it's the absolutely playing into, you know, you saw that big edod t aweth s tlln ll lwend she it oerghod yin e is ronl ctiesandore cly space, for sure. liz: can i just jump in here, because i know you love are apple, and, in fact, we have a lot of traders who love apple. but this is a company right now, it's flat, had been down, had been up. you had tim cook saying earlier today that he is going to start freezing hiring. there's pamaspis >> del aune r e ezalouinhi. ngveify ng edt arouno anlere. 'rg tha ove tt 'r w irm tgh man 2023. liz: well, yeah, they gotta be prepared. but i think of apple and, burt, k k k k k k k s ththththth chchchs s s s s s ukukukbrbrbrbs yoe e e e e e e anisisisisiswe

let's get back to the markets, bring in our good friend kenny polcari. holiday shopping season officially underway. look at you. you look like a christmas card, absolutely perfect. can we expect to see -- like santa claus, grow a beard a little more. can we expect to see a rally, will we get a sander rally? >> what we will get as we get closer to the end of the year, this week typically ends on a plus note and then early december, more macro data causes some concern and we know what those concerns are but i think as we move into the end of the year we will rally back, i think we will end between 4,000, and 40 one hundred on the s&p, between now and then we churn a lot. ashley: there's a lot of talk about the fed pivoting. when we saw the minutes of the last fed meeting they were talking about we need to slow the pace of these hikes and that gave a boost to equities. what's your thought on that? >> we had this conversation, a pause or slowdown is different from a pivot. we expect they will slow to 50 basis points in december, most likely another 50 in jan

i want to bring in slatestone wealth chief market strategist, kenny polcari. , a lot the markets are kind of digesting. we're moving into the final month of the year. what is most important to you right now? >> so i think there is a couple of things. i think you have to be concerned there will be this continued churn as we move into the end of the year. i think there may be a late, a late month, decembery into the bell but if anyone is expecting any blockbuster move i would say you probably should rethink that. unless of course we start to see the pce which is later this week, cpi, ppi next week show considerable decline in inflation. if that happens i think the market would be off to the races but i don't see that happening. so i think you just have to be concerned about how it is shaping up what the ecodata telling you, what the fed heads continue to say and investors have to recognize that 2023 could continue, at least the first six months or so continue to be volatile time as we tighten quantitative tightening and continue to raise rates. cheryl: those comm

let's get reaction from slatestone wealth chief market strategist kenny polcari and expert press ceo dave maney. kenny, i want to go ahead to start with you. the market is rising again today, 218 points on the dow. seems that about market is essentially looking at the whole picture, well the numbers are coming down. they're not where we want them to be but it's enough. labor market is still holing up so everything seems okay for now. what are your thoughts? >> and i would agree. i think the market is taking this morning's number, looking at it in a downtrend. they're certainly still higher than we want them to be, but, they are starting to come down. that is a positive. but look, they're still near 40-year high rates. right? 7%, 6.7% is still well above the 2% target they tell us where we want to be. so while i appreciate and i love the fact that the stocks are rallying and the market is rallying i'm not necessarily convinced there is still not more volatility ahead. jackie: i'm not convinced either. i look at inflation at 7.7%, dave, and say the fed still has aways to go? >> yeah. i

i want to bring in slatestone wealth chief market stratfifth kenny polcari.here is a line in "glengarry glen ross," i know you remember it. they asked me for a favor. i said the real favor, follow my advice fire you because is a loser. roku, you hated roku. when pelaton reported you hated pelaton. >> right. charles: here is the thing people thought down 50% it is too late. down 60% it is too late. is there ever a time when it is too late not to get out of broken names? >> only time it is not too late it gets more and more painful, right? at some point they go lower, lower, at some point they are a buy. you had it. disgusteds wanted them out. you should have got own out a long time ago when they started to break down. if you hadn't, holding on to them down you have to rethink it to decide if you missed the whole move. maybe you want it to sit there. maybe one day you let them recover. in my mind you should throw them out, focus on the stuff that is going to work as we move through the next 12 months. charles: that is where i think this is probably the second b

situation calls for much higher interest rates than "what we have been used to" so let's get to kenny polcari and scott redler. guys, i mean, no wonder it's so hard to find green on the screen unless of course you're looking at the volatility index up 8.5% but 22 and change i'm not even worried about that one. scott? which do you see having a bigger effect here, because the markets were down heavily in this china news. >> well i think both things you just stated are putting a little bit of pressure on the market . listen, over the course of the past three, four weeks the s&p went from 3,500 to 4,033 last week. we had a strong week, so you needed things to be kind of perfect for this to continue, so the story out of china actually started on friday if you remember the story broke friday. that's when apple got kind of hit so this is almost the same story just a little bit more intense, but the question was would it also impact apple again and it did so you have to pay a bit more attention to it . as far as the real narrative with the market, it's yields, and the market could only go up on negat

stuart: hold on one second, kenny polcari would you buy amazon at 95?wer i'm starting to pick away. stuart: why? >> just because i think the story is overdone. i think we've heard this. we know they are laying off people. we know what the projections are , but remember, the market is discounting mechanism, right? so over long term i think amazon is just one of those foundational names and anywhere below $95 i think is a place if you don't own it you should start picking at it if you do own it you can add more. >> it's a capex story as well. wall street wants to believe in amazon given the amazon web services in that cloud domination. >> exactly. >> also i want to note we're going up today because of options expiration. usually so we've been up three- quarters of the time when options expired this year so maybe there's a distortion effect there. stuart: can you show me gap, please? it used to be the gap. >> still the gap. stuart: it's not is it? >> i still call it the gap. call it whatever you want. stuart: it's up 9%. >> yeah, so you know, i would say t