joining us is keybank market executive research analyst ken zenner great to have wyou with us. >> hi,elly. >> we know the long-term story, the demographics are good, the housing shortage issues -- what's going on here >> we asked a simple question in our piece today called wow, stands for wall of worry, which explains how home builder stocks do when the fed is tightening. in 16 of the last 18 cycles back to 1969, the stocks fall about 30%. the key question for the home builders, if you look at it fundamentally, is is the cycle covid unique it's obviously a dangerous game. supply is tight, margins are high, pricings are high. we saw parallels for these exact variables that indicate the cycle is not different the last time starts peaked in that cycle was 1979, it is no too late for the stock but right thousand we are making the call around rate tightening and home builders. >> you think we are about a third to half the way through the correction that could be in store for them do you expect that to play out the remainder this year? >> tightening cycles vary. of the 18 we looked at the d

and keybank out with a new note on home builders the firm downgrading dr horton to sector weight fromeight, downgrading lennar and toll and kb home keybank says inflation concerns are superseding favorable housing fundamentals and those stocks are all lower today on the back of higher mortgage rates as well you can read more about the call on cnbc pro. mortgage rates near a two-year high is going to be a threat to some of these home builders and the tremendous games >> sector down today as you were saying meantime, the rest of the market slipped a little bit as well back down to half a percent of declines for the s&p 500 >>> time though for a cnbc news update rahel solomon has it for us. >> here's what's happening at this hour. the faa has approved more commercial jets to land in poor weather at airports with new 5g services rolling out >>> wisconsin's supreme court hearing arguments over redrawing the state's political boundaries democrats say that the republican-backed redistricting map is too partisan. one justice agreed and said that other maps can be accused of the same thing the

you have talent retention and also you're trying to poach good keybank bankers from other banks as well. quays activision and blizzard has been purchased for $69 billion. this is part of microsoft's push into the metaverse. it is an interesting choice of company. it has had its high-profile issues. >> you are absolutely right. it is a little bit tainted. getting content is not that easy. this puts microsoft right in the middle of what is known as the metaverse. microsoft has a very strong portfolio of hardware products. now they can expand on the content using this particular deal. >> we also saw global gaming stocks broadly. could we expect more m&a's in the sector? >> that was the senior analyst with the latest microsoft deal. let's turn to china, the central bank is pledging to do more for the economy and ease credit stress. kathleen hays joins us with the governor. quincy knew what he was going to say and why they were going to say. they want to prevent a credit meltdown as they see contagion, contagion starting in the property market. they want to crack down on the property develop

show me walmart please, keybank downgrading that stock. tell me what to wear? >> this is a brick and mortar store. in los angeles, 30,000 square feet, smaller than a mall, with the same floor pattern, you pick things and take them to the dressing room, you start to tell amazon the things you like and they bring you stuff. it is changing the shopping experience to streamline it. the suggestions are quite interesting, the things i like. stuart: it is fascinating, it is your choice. the pre-pandemic jobs new york city lost and has yet to recover. the new york governor is saying when we are going to get them all back, when do we get them back? >> 3 to 4 years from now. what we are talking about for these job losses in new york. remember looking at industries that are hit really hard, leisure, tourism, the hotels, restaurants, the retail expenditures that go along with tourists being here in new york city as well. it will take some time. we lost 30% of our jobs. stuart: the jobs are staying away because of all the restrictions. >> i think they

i want to show you the chipmakers, an upgrade on keybank being called one of the best chip opportunitiesst performers on the s&p 500 and i will add to jpmorgan, the focus list, $48 in their view because of the risk reward profile. the stock has been hammered so much that on the other side jpmorgan says there's a discounted opportunity to get it. stuart: you say there is sequencing company, they define what the new variants look like. is that the thing they do. >> in terms of therapies, therapeutics and how to, cancer drugs etc.. stuart: thanks for straightening that out, let's get to sports. sensational last night. georgia beat alabama in college football's national championship. georgia's win in 41 years. take me through it. ashley: it really is, going back to 1981. third ranked georgia bulldogs beating the top ranked alabama crimson tide scoring 33-18. i guess you would call that an upset. brian kilmeade was thinking alabama would win. it is also the bulldogs first win over the conference rivals since 2007. if you watch the game of the first featured 5 field goals with alabama leading