as we hit february we have slatestone market strategist, kenny polcari. three as, two of them are on deck for earnings in just a few minutes. kenny. >> absolutely, amazon and apple are right up there. look what they have done to them. i've been a buyer on weakness. we talked about it. the other one is c3.a.i., a a.i. play. this other one is fintech, they're all a-list stocks. i think they are places -- i think a pullback in the big tech names is ridiculous. to your point, you and i discussed who would thought j.j. would be quit to start to cut rates. he is not. he made that finally. liz: he is not ready to declare victory and say we're on track for a soft landing. but listen, kenny as we watch the markets, the dow looks close to session lows, you have 10 seconds down 315. what happens tomorrow? >> you know actually i think tomorrow there is a little bit more pressure. if we close on the lows today, close on the lows today you get a test tomorrow. i think initially we get a little bit of a selloff tomorrow morning. [closing bell rings. liz:] kenny polcari o

kenny polcari with us now. i want to talk about the tech rally.ft and nvidia account for half of all the gains in the stock market so far this year. now, that's market concentration, and it's extreme form. do you see it as dangerous in any way? if. >> well, look, it's only dangerous if everybody jumps into those two names, then it becomes dangerous. i think what you have to worry about as a long-term investor, not worry about, but what you have to think about is, okay, we own those names, i own them in a portfolio or my wealth manager owns them in the portfolio, so i'm predicted there. i'm okay. -- protected there. i need to start to think about a broader, diversified portfolio that's going to weather the storm. so is, yeah, you should not get caught up, as great as it is, and we own both of them and it's great, but you can't get caught up in just those two names. stuart: now, the big tech stocks this week have largely moved up. it's been a big tech rally. next week we get their earnings reports and the market's gone up in advance of those earning

i want to bring in state sloan chiefing investor kenny polcari. 3.9% core year-over-year, this is not 2%. that is about double. all this talk about march, march, march, for a rate cut, i know the bet is still there, kenny, but i'm not so sure anymore after that data. >> i'm not sure how the bet can even still be there in march. i always thought that was aggressive to begin with but the trader types tried to sell that narrative after last year, potentially number tomorrow could be equally as hot. i think you will start to see the fed, the fed, the march number go off the table. cheryl: yeah, it's still there, because i was watching fed funds futures today amid all of this. even goldman sachs chief economist came out ahead of the report, we expect a march rate cut. i just don't see it, i really don't. i will say the ppi number tomorrow, that takes what four, six weeks? >> four to six weeks to come down. cheryl: that is more of a leading indicator than the cpi is. >> right. cheryl: if that comes in hotter than expected around it is actually, where are we then? >> i think that the march r

let's bring in slatestone wealth chief market strategist, kenny polcari. y, sloppy start to 2024, cause for concern or a pause that refreshes? >> listen i think it is a sloppy start but look it, after we saw what happened the last eight weeks, i'm not surprised, nor should anybody be surprised we were talking about, don't be surprised once january comes you will see all the people will lock in some of these gains and then you hatless two downgrades of apple the biggest company in the whole world, two analysts downgrade it on january 2nd, that is what the market needed. it needed a reason to want to take profits. when somebody downgrades apple, the first one i thought was ridiculous, took the price target from 161 to 160. at least the guy from piper sandler from 150 from 1205. hiss target price is 205. it is 12% higher than when it is trade tag. i love the fact apple is trading off five 1/2, 6%. that is great. it apple is name i own. a name a lot of people on on any pullback. anytime it goes on sale i'm happy to back up the truck with apple. charles: let me

kenny polcari with us today. all right, kenny, another big tech rally. how much is a.i.ing to that big tech rally? >> a.i. is the big tech rally, right? you saw that, we've seen that over the last eight or nine weeks, we saw that with taiwan semi, they came out with that the announcement the other day about a solid quarter, about what they're going to do in terms of providing chips to nvidia and all the other ones that are right in the middle of the a.i. boom. and, look, a.i.'s not going wee. you saw everything that happened in the world economic forum in term des of where a.i.'s going, everything everyone has to be worried about. a.i.'s here's to -- here to stay, but it is behind this rally that we're seeing. stuart: but i want to see the results of a.i. in the companies, in the big tech companies, and we'll see those results over the next couple of weeks. >> right. tooth think i think this goes as farah as a.i. is contributing to serious profit gains for big tech. what say you? >> well, that's true, but i think you have to look just beyond what the forward guy dance is

geopolitical tensions rise, let's get right to the floor show, our guys are better than that cio and kenny polcari. this is a market in need of a catalyst is not listening to the davos who were forever misguided or off point where are they going to get the catalyst. it's interesting they used to listen to that that doesn't seem to be the case. the catalyst and the ongoing earnings release that started on friday and tear point, they showed some mixed results they show some caution going forward i think that is the story were getting here through the earnings season and that's what investors are going to focus on in terms of what is the next move, the really looking to see how this economy is performing and what these companies are saying about the next four to six months i don't think they're paying any attention to what's going on in dallas. elizabeth: what are you seeing, as we continue to watch this you a lot of money and assets under management and the market has done incredibly well over the past year, what is the catalyst that pushes in either direction. >> two things, i think earnings thank

liz:] kenny polcari our friend always. the markets in the red. they don't like what the fed had to say. we have sigh work swoosh sky works solutions ♪ larry: welcome to "kudlow," save america, kill the bill. the senate bill on illegal immigration. we got a rare apology from meta facebook ceo, mark zuckerberg. we'll have ted cruz weigh in on that and more in a few moments. all the economic forecasters and all the economic models in and out of government top to bottom have been completely wrong. kevin hassett and art laffer are going to talk about it, maybe figure out what to do next, plus some politics you don't want to miss with our pals joe concha and mark simone and then mr. wonderful, kevin o'leary, if all that weren't enough, kevin o'leary is going to tell us how to make money, lots, and lots of money. can't wait. first up let's head to the white house where our own hilary vaughn is standing by. hilary, what is being cooking down there? >> reporter: hi, larry. well the white house is getting frustrated with republicans in the house. they thin

kenny poll kenny polcari's still with me. let's do speculating here. president of the united states, how would the stock market react? >> i think the stock market would welcome that, i do. not because it's him, but because it's republican policies again, you know, it'll be defense spending, it'll be about taxes, paying down the debt, drilling. so i think the markets and the economy would benefit. again, not because it's him, per se, but because of the part. stuart: and if biden wins a second term? >> i think we're all in trouble. [laughter] stuart: thanks for joining us for the hour. >> who says i'm leaving? stuart: well, it's 9:55 -- [laughter] jill biden defending her husband's age. tammy bruce on that. the new england patriots lost tom brady and now bill belichick. i've got to see what dave portnoy says about that. morgan ortagus back from saudi arabia where she met crown prince mohamed bin salman, did mbs see this war coming? and a new york times op set saying biden's in serious trouble. leo terrell on that. the 10:00 hour next. ♪ push it, push it