horton, lennar, and we are overweight apparel, specialty apparel, in the form of lulu, and we have quick serve through chipotle. we only have three names that are pure retail. as i said with my initial comments, they are at the bottom quartile. >>> to our retail reporter who has our news update, courtney reagan. >> fascinating discussion there for certain. >>> the israeli defense force reopened a humanitarian corridor for four hours allowing passage to southern gaza. an idf spokesperson called the northern gaza a fierce combat zone and said time was running out. the rafa border crossing is open again today am documents obtained by nbc show more than 700 people are eligible to cross including around 100 americans. >>> the eu commission recommended today ukraine be invited to start membership talks as soon as some final conditions are met. regardless of the continuing war with russia. volodymyr zelenskyy called the report, quote, a historic step. eu leaders accepted ukraine as a candidate to join the union last year. >>> an explosion at a texas chemical plant sparked a large fire sending p

pulte is doing great lennar has been moving up.h, interest rate sensitive sectors as well. want to talk about ipos because we got some earnings reports from some of the big names like arm out there. generally, it has been disappointing. so, remember you'll the news around birkenstock a month ago, priced at $46, it's now $40. that's an improvement. the first few weeks of trading it was around $38 or so. right around that number so, the important thing is that's been a real disappointment overall people losing money trading that one. we have kenvu, over here, that was a long time ago. that was in may. it went public at $22. it's now $19 but in the first few months of trading, all the trading was around $26 essentially all people who bought in right after it went public have been under water this is generally true of everything else. you have instacart priced at $30. it's trading now at $24. arm had their earnings it's essentially trading right around the initial price of $51. but that stock was trading $55 to $65 for the first severa

same with lennar, same with horton i keep waiting for this trend to stop i've been putting these up for but they keep slowly creeping up. several sectors continue to show strength one new low on the s&p 500 there it is, chevron we know what's going on here oil was $95 six weeks ago and $73 here we know about the higher supply and the sort of lackluster demand for china this is good for the inflation narrative. not good if you own chevron but good for the inflation narrative overall. what you see here, carl, is the soft landing is looking a lot more likely. do you see that b of a fund manager survey that's the consensus, soft landing. these fund managers six months ago their consensus was a recession. so, they completely turned around based on what we were thinking about six months ago. but the data has changed the facts have changed out there. the interest rate scenario is much better. the inflation scenario is much better the market is telling you right now that it is trying to price in that soft landing based on the inflation data, based on the decline in interest rates we've been see

that's one of the things we saw from the home builders like a lennar it is bad that forest products -ave been down all year. mostly tied to housing we'll see when housing comes back up. of course we want to move all that lumber and all those goods. but that's one that's been soft all year along with international intermodal >> the one i'm thinking should be great is somehow you do the natural gas, liquids, chemicals to the gulf. could we ever see double-digit there? because we have now become the most powerful force in the world for ngl. >> i think we could. i think it's all about getting the infrastructure and -- >> but we're doing that, right >> we are. the gulf is tied to western railroads. we take it to the east, which we're proud and happy to do. but a big opportunity for us we already move things, hazardous chemicals and materials today and we're ready to move more when we can >> we should be booming in ag and food products. what happened there? >> the grain harvest in the midwest, which is where we start to see it, is delayed a little bit this year but still very strong we're s

shp, which i don't think it's the greatest etf, but dr horton, lennar, toll brothers, a number of stocksat rolled over in a major way. we traded down to 69 or so late october. then you had this 10% bounce on the back of yields. 77.5ish is a level we topped out at in october. rates stopped where they should have on the downside. hxb on the upside, i think they roll over from here. >> katie, what do you see in the charts? >> same thing. oversold-out term for the home builders. so the corrective phases were very severe and sort of persistent. and they just reversed very quickly. and i think for now we can trust that there is room for upside through near term, and you can actually look at the mortgage rates from a technical perspective and see that they've lost some upside momentum. anybody can see it. but not enough to suggest it's meaningful. so we can throw something like a 20-day moving average on chart and use that as a gauge of short-term momentum. the 20-day hasn't even roll ed over in the last week. we need to see more in terms of loss ohm of momentum to seeing? that would be sustain

lennar is up $6.85 toll brothers just screaming higher expensive homes.g very, let's say, homes that are not that expensive, up $6.29. david, carl, i have to tell you, this is the reversal of everything that was -- that playbook said and people are short these stocks and thought this would be -- another fed rate hike would roll them over look at these companies. not that many home builders building many homes. that's the group that i fear the least about. you think rates are going lower -- >> is this an illustration of what people talked about positioning setting us up? >> they were so wrong. people thought this was the group the fed had in its sights and would destroy it fed never got to it. very good for home depot by the way, in case you bet against home depot target reports tomorrow and maybe even target comes back a little this is an amazing rally i mean no one was -- >> rates, rates. >> always rates. >> large balance sheet, refinancing risk, reit, commercial real estate, services. >> forget it, david. it's rates. >> it's got to be driven by most of

file a lawsuit against lennar and kb holmes?hey don't fix prices. >> there you've got a lack of supply. >> right. it's not fair fault -- >> they're building what they can. people can't move because they can't abandon their low rate mortgage. >> right. that's an aberration. think you're doug yearley from toll brothers, and i tell you we're about to have the fastest rate cycle increases in 40 years. would you want to put up more homes or fewer? these guys are actually pretty bold. they put up a lot of holmes. >> pulte got recognition yesterday. i see a situation where these prices are intractable. people are wondering why is food intractable, why can't food come down? if you look at tyson foods, they didn't make their numbers. you think someone is getting hurt. i don't think people want to go to the supermarket and feel there's anything even remotely like it was. i think that the autos, the used cars are just so much higher. so these things have to come down. >> so much higher than they were -- >> what, pre-covid? >> even though t