we will speak with oppenheimer funds cio krishna memani in minutes. earnings season kicks off with mixed results. jpmorgan and wells fargo's reports. facebook shares down after announcing big changes to the website. mark zuckerberg says it could cause user engagement to fall. abigail doolittle is with us as we are halfway into the trading day and stocks reach record highs yet again. >> the rally simply continues this year. take a look at the s&p 500, dow, nasdaq. major averages up more than half a percent, the dow up more than .8%. continued optimism about the effects of tax reform as earnings season gets underway. earnings on a year-over-year basis will grow 11.8%. it seems investors are feeling good about the current situation . as we have weekly gains, the best since last week, two solid weeks in a row. the dow almost 2% on the week. lots of bullish momentum. -- fromke a look at the a point and percentage standpoint. biggestp top 1.8%, the boost for the s&p 500. this as suntrust has raised its , saying $1400 per share shares are fundamentally very

still with me, michael, kathy jones and krishna from oppenheimer funds. .t to begin with you something struck me about last year. you expected risk assets to perform more broadly. it lagged the s&p 500. why? why is our yield not keeping up with risk assets? krishna: the answer is simple. high-yield are just too tight. there ishat it is, nothing magical. high-yield has had a substantial, substantial run over the last 7-8 years. on theat a spread level sub 300, it is very difficult to get yourself to buy high-yield at that level and feel good about it. kathy: i would agree with krishna. the spreads her tight and creditons are high and quality keeps deteriorating. you add the tax bill onto it, which is not favorable for high-yield issuers. you do not have a great case there to be all in on high yields. histhan: i asked him about exposure to high yields and whether he had any, and whether he should advise others. bill hadsten at what to say on bloomberg radio and bloomberg tv. spreads are very, very narrow and they follow the stock market. correlation.a 1-4 if

still with me, michael, kathy jones and krishna from oppenheimer funds.s, i want to take the opportunity to talk about credit. i want to begin with you. something struck me about last year with the junk etf. you expected risk assets to perform more broadly. junk lagged the s&p 500. my question more generally is just why? why is our yield not keeping up with the rally in risk assets? krishna: the answer is simple. high-yield spurts are just too tight. that is what it is, there is nothing magical about it. high-yield has had a substantial, substantial run over the last 7-8 years. we are at a spread level on the cds indices, let's say sub 300, it is very difficult to get yourself to buy high-yield at that level and feel good about it. jonathan: kathy? kathy: i would agree with krishna. the spreads are tight and valuations are high and credit quality keeps deteriorating. and then you add the tax bill onto it, which is not favorable for high-yield issuers. and you do not have a great case there to be all in on high yields. jonathan: i caught up with bill gross

scarlet: joining us to discuss is oppenheimer senior analyst and managing director.et's start with jpmorgan. certainly the tax change had a big impact, not just on the bottom line where it hurts, but also some of the businesses like the corporate bank and investment bank. talk about how you are putting aside those numbers to read the corporations. chris: if you put the tax bill aside for both companies today, the fundamental trends were very close to what we were looking for. wereourth quarter charges not just felt on the tax line. both companies owned some tax advantage assets. tax-equivalent adjustments through the various instruments they own. it impacted any number of lines of the p&l. when you strip through the noise and they give most of the pieces in the press release, everything was close to what we were looking for. pretty close through recent quarters. joe: jpmorgan stock has been doing phenomenally well, some of it is the taxes and the boost they are want to get to earnings. in terms of the underlying business, how much momentum is? there can it sustain th

>> robert oppenheimer was the father of a bomb. he named it trinity, a reference to a john dunn poem, because oppenheimer loved poetry. so they are sitting at the launch, and even after trinity, lay he says to the king of england, i don't think this atomic bomb will be a big deal. and the king turns to him and says, you want to lay a bet on that? truman leaves sailing across -- , potsdam. truman is dying to find out, he doesn't know when the mission is going to be flown. he knows we will drop the bomb but we don't know when, because it is military secret. >> why wouldn't you know? >> that is the level of security. >> did he have a say? >> no. the decision to when and where was up to the military. truman had very little to do with the decision, certainly no decision on when it would be dropped. he wanted it to be dropped after he left potsdam. >> he gave permission. >> correct. and we have that documentation, too. i found these wonderful documents where one of his aides sends these messages to the white house, asking for information

on black holes they are just cold collapsed stars and oppenheimer speculated in september 1939 that a large star come if it was large enough, would collapse down into something that is so ends. other physicists pretty much ignored the paper and thought it was kind of a quark or made a mistake and that peter was forgotten from 1939 until the 50s or 60s. the person who discovered it was john wheeler and he discovered it when he looked at the paper again. he looked at the same issue and thought this stuff is really interesting. so he resurrected the idea before collapsed stars that came black holes and today they were a very important part. in the fall of 1938 but then 1939 in the second year was when he got off the ground with his research. when thinking about the prospect of the germans developing, he didn't really think about that too much because he didn't think that the united states would even get involved in world war ii. he was of the opinion that we wouldn't get involved and that people like and rico and einstein and so forth for a little bit too worried about nuclear fission

>> robert oppenheimer was the father of a bomb.med it trinity, a reference to a john dunn poem, because oppenheimer loved poetry. so they are sitting at the launch, and even after trinity, lay he says to the king of england, i don't think this atomic bomb will be a big deal. and the king turns to him and says, you want to lay a bet on that? true medleys, sailing across -- truman leaves, sailing across potsdam. we have all the communication going back and forth between his room and the white house. truman is dying to find out, he doesn't know when the mission is going to be flown. he knows we will drop the bomb but we don't know when, because it is military secret. >> why wouldn't you know? >> that is the level of security. >> did he have a say? >> no. the decision to when and where was up to the military. truman had very little to do with the decision, certainly no decision on when it would be dropped. he wanted it to be dropped after he left potsdam. >> he gave permission. >> correct. and we have that documentation, too. i found t

. >> all right, thanks so much coming up next, oppenheimer upgrading a sneaker stock, but is is it reallyhe best name in the excuse me, space grab a water oh, and there's the closing bell. (sighs) i hate missing out missing out after hours. not anymore, td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, only with td ameritrade. your but as you get older,hing. it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. we have one to two fires a day and when you respond together and you put your lives on the line, you do have to surround yourself with experts. and for

jesus christ part of that belief is that all jews will convert to christianity or face death yet of oppenheimer is a political commentator and journalist as well joins me now from tel aviv good to have you with us on the program how do it sort of israelis justify their friendship or connection to evangelical christians or scientists christians are sometimes called when the thought process they follow actually implies the destruction of jews who don't convert if and when jesus christ returns. first of all the vengeance group are not saying it out loud all the time that what they would like to do is to convert the jewish people they're talking about now and from now they are supporting israel in the jewish people here in the holy land because they believe the america will back to israel then god will turn his back to america and therefore for the moment they're totally supportive of the jewish people especially they are supporting not all these whaley's more they are supporting the right wing israeli political camp they are supposed to meet in the us in the united states and they are also funding

ratedis an oppenheimer outperform target by brian bittner who has been good in this space.me potential comps and losses people are talking about recently but we are noticing once the deal closes in q2 that seven dollars of free cash flow will be utilized and there is a floor to this stock. we like using the march puts or orling and 85 put to buy call spread, selling one time to buy one time. stockld play along positions and use when thousand contracts. we think it is going to outperform in this matter. >> you want to fund the that you are making, the trade you are making by selling that. is that the idea. it has been a range where we think it could outperform between 80 and 110 relative to stock. it is positive carry initial the -- initially. the stock got away a bit but we do like it anywhere in the low 90's. julie: jack-in-the-box. thank you. that company reports earnings in late february. julia: i have been googling snakes on a plane. still ahead, the white house confirmed no deal has been reached to avoid a shutdown. the democratic committee chairman coming up. this is

jonathan: kathy coming from swap, krishna from oppenheimer funds.t to give you market check of where treasuries have been. to's, tents, and 30's as we go toward the end of the week. yields up on a two-year note by eight basis points to 1.96%. we are zooming into that 2% level. up on the long end as well by seven t 22 point a one. bank earnings in the united states and important data out of the americas coming at the back end of the week. this is "bloomberg real yield." ♪ ♪ jonathan: this is "bloomberg real yield." on jonathan ferro for audience worldwide. -- i'm jonathan ferro for audience worldwide. time for the final spread. a series of economic reports concluding on friday when we get cpi data and retail sales as well. learning side kicks off big time .t jpmorgan wells fargo in politics, a lot going on is always. keep an eye on the french president as he heads over to china and talks in korea something to keep an eye on as well. final thoughts with michael cloherty, kathy jones, and krishna memani. something you got your focus on? kathy: your usu

jonathan: kathy jones, sticking with me from schwab and krishna memani from oppenheimer funds.to get you a market check of where treasuries have been. two's 10's and 30's as we go toward the end of the week. yields up on a two-year note by eight basis points to 1.96%. we are zooming into that 2% level. up on the long end as well by seven to 281. on a 30 year. still ahead, bank earnings in the united states and important data out of the americas coming at the back end of the week. that is coming up in just a moment. this is "bloomberg real yield." ♪ ♪ jonathan: this is "bloomberg real yield." i'm jonathan ferro for audience members worldwide from new york city. time for the final spread. coming up over the next week, we get a series of economic reports concluding on friday when we get cpi data and retail sales as well. plus, on the earnings side, it kicks off big time at jpmorgan and wells fargo. bank earnings start to come through. in politics, a lot going on is -- as always. keep an eye on the french president emmanuel macron as he heads over to china and talks in korea. somet

brian levitt with oppenheimer funds. >>> a number of geopolitical events are also rumbling beneath market's surface. there is the threat from north korea and there is iran, where tensions are rising, protests are spreading, and the death toll is growing. violent demonstrations have erupted. nikki haley said the u.s. cannot remain silent and is calling for an emergency session in the u.n. in the coming days. as michelle caruso-cabrera reports. >> reporter: the ongoing protests in iran are the most violent since 2009 since students rose up in response to what they believed was a rigged election. politi observers say the current uprising which started thursday is significantly different. >> this one is more broad based. it's occurring in many, many more cities. previously really centered in tehran, more a youth intellectual movement. this one, there's dissatisfactio in the iranian population with lack of growth in the iranian economy which they were promised. >> reporter: protesters are angry about a sharp rise in the cost of food. inflation reached as high as 32% back in 2013. unemployment al

oppenheimer is saying that margins fell on a year-over-year basis. that is a bit of a concern. come down to whether they can get cloud and services going. the fourth quarter that was just reported, growth would have been negative. the turnaround that everyone has been waiting for is not happening. let's look at the chart. we have the stock going down. fears over the mainframe being slow. stocks are climbing higher as revenue growth expectations started climbing. these are your over your revenue expectations. anything below red is negative. -- year over year revenue expectations. anything below red is negative. been promisinge that cloud for quite a wild. thank you. alan simpson returned to public service as part of the simpson bowles commission. he has never been reluctant to cross the aisle when he thought it made sense for his constituency and country. is now an attorney and was a former senator -- and was a senator from wyoming. but to talk to you. -- good to talk to you. sense of what is going on in washington. you spend a long time there. what is going on in the state -- t

on the bullish side, oppenheimer argued it was -- interest rates start climbing again, that is happening the world over and going to be good for goldman, sooner or later bonds will be attractive deutsche bank boosted its makeup wells fargo argued that a term might be in the works. have gone well ten-days may not a quarter make, but positive they expect market activity get a boost thanks to the tax cut. on the negative side, i didn't like this report, but kbw cut their numbers. plus the trading business is so awful right now, that they expect it will be a while before the company finds a way to off set their weakness bemow cut too. so where do it leave us? the bears have a point but we need to put these negatives in context while trading is the company's largest business, it accounts for 37% of sales and the other divisions are doing well they can coin money there. on top of that, i think the bears may be focused on the wrong part of the conference calling. why? because ceo chavez told us, there are a number of positive tail winds that could cause compliant engagement and expansive. highe

oppenheimer asked the president when the russians would develop the atom bomb? truman said never. george kenner's manifestoes crackled with the motion, even as they claimed the authority of cool reason. this isn't the emotional impact of the most famous passage, the most quoted. he wrote that threatening america was a political force -- not people with whom one could negotiate ordeal -- but a political force fanatic to the belief that, with the u.s., there could be no motors for mindy that is desirable. our traditional way of life be destroyed. the international authority of our state be broken if the soviet powers to be secured. he exaggerated russia's limited challenge into a frightening, existential threat. in later years, he would protest that his calls for containment were misinterpreted by people who pushed for a militarized response to containment. the emotional force with which he depicted the soviet threat made it seem only prudent to build up the u.s. military. in terms of lessons, his frustrations with the outcome of his call for a containment illustrates one of the pro

peter oppenheimer, chief global equity strategist at goldman sachs. we are minutes away from the market open now. expertsg's top equity will be joining us every day to look at the big market themes and individual stock stories before the open. joining us now are the equities reporters. good morning. >> good morning. guy: big picture, the market has been on a tear. has it got further to run? >> the insert we are getting is yes. europe is one of the markets that is not in overbought territory. in overbought not levels. that could mean the rally still has legs and it could be more sustainable than some of the other regions that have seen more exuberance. guy: let's talk about the stocks we will be watching today. we were talking to the cfo of sainsbury. >> the stocks should be moving on the back of quite a few positive things. the integration of argos is going faster than expected. it looks like investors might be focusing on that. they did say they are cautious about the environment this year, which is understandable. that is one thing to look out for.

the ten-year rate has been forecasted to climb, again, you said not at ubs, not at oppenheimer fundsher 3%, 3.5% it's not happening you don't have the pick-up in inflation. you could flatten yield kuv if you see that start to happen then curtail your expectations on the cycle short of that, i think this cycle has a lot of room to go. >> the tax plan for you means what for the s&p by the end of the year adds how much? >> you are going to see -- >> about 30% >> i think actually markets are going to do quite well i think they'll be more volatile this year than last year be almost impossible for them to be less volatile right? and the reason they were so non-volatile last year is because there was no real economic or monetary policy volatility i suspect you'll see some monetary policy back in the markets, but the markets should continue to press higher corporate earnings are good. economies overseas are improving and accelerating it's a nice macro back drop for u.s. corporations and international corporations >> all right not going to -- i found a money clip >> yeah. >> economists. earli

come up, oppenheimer chief market strategist. play for the struggling $550 billion u.s. convenience store industry. they're set to launch a cashier-less store. it's amazon go. it's in seattle today. for more, we get more from washington. sarah, explain this to us. we were waiting for this for a while. sarah: they announce this had about a year ago and said they were going to open it in spring of 2017, and here we are, almost a year later, because they ended up encountering bugs. but essentially, you download an app before you go into the store, and then as soon as you lift stuff off the shelf and put it in your bag, that is essentially the checkout process. it is tracking your movements to the store using a combination of cameras and sensors, and then when you walk through sort of a turnstile on the way out, you've checked out. lisa: so, sarah, i mean, basically you're opening up your credit card to amazon the second you walk into this store, and they can just sort of charge at will. i mean, there's a lot of potential for bugs. h

domino's pizza was upgraded by oppenheimer and credit suisse on optimism for sales this year. ofis health, raymond james grading that stock even after is that earnings would be at the low end of estimates -- cvs health. the market ist not pricing in the aetna acquisition being good for the company. the: 22 minutes left of thursday session. stocks are jumping today. there is a secret most upswing in global equities. the second day of gains, best front for almost a month, biggest rise for almost two weeks for the stoxx 600. the currencies are rising. bond yields, commodities, and cds. let's talk economic activity in the euro area accelerating to the fastest pace in almost seven years. services surging while factories benefited from booming domestic demand, record growth and export orders. this is the composition pmi, which is rising to 58.1 in december from 57.5 the month earlier, beefing expectations be a growth momentum was the strongest in ireland. france coming second. activity in germany reached its highest level animal seven years. it u.k. house prices will barely gain thi

"the killing"on with joshua oppenheimer.e decided this was -- they met for four days and interrogated each other and decided they could work together. that was a very difficult decision to make and very risky decision to take, but i think yance -- for me, it was important that yance was making the film he wanted to make. people refer to the film as personal. i think that is true, but personal is also the language of the dispossessed. nobody wants to make a film about the killing of their brother. this is an artist who i think violencederstood the does not confer what it promises and actually decided to use narrative in cinema to recuperate what was possible through narratives. way.ize the fields that amy: "strong island" is about the killing of an african-american man in long island, new york. the murder of an african-american man by a white mechanic. that man, the white mechanic, was never even c charged. a central figure in this documentary is yance's mother. i want to turn to a clip of "strong island" of his mom. mom. >>

because oppenheimer loved toe tri. . and even after trinlity lahey says i don't think this atomic bomb is going to be a big deal. and the king turnls to him and says you want top lay a bet on that. truman leaves he's trailing across -- all the communication was going back and forth between his office in the ship and the secret white house -- you know, the white house communications room. >> so truly is. he doesn't know when the mission is going to be flooping. >>. ecause it's a military second. that's the level of security. very >> the readdition of when and >> was all to the. he had very throilt do with the decision. > no decision on it are be dropped. >> that's right. have that document too. >> i found these wonderful documents where he -- one of this aids sense this message to the white house asking for any information about the man had tan project. which is would have been a great, great violations of secrecy. and security. it was so secret that the military map room, which is where. were send and came they cable bac

. >> and specifically in the tech sector the smaller companies, tier 2, tier 3 research firms, oppenheimerrbc is actually pretty good. they are outperforming the big banks. really. >> yeah. >> goldman sachs or morgan stanley. >> we daw deutsche bank over the last five years. >> don't buy from the blue chip. >> it's like hiring a law firm you don't go to the biggest law firm you hire an individual you don't hire across the board. you look for an individual tip rachks allows you to find either the best analyst or insider in the legal sense, when insiders are buying or selling stock, there is a way to look at our website and say does this ceo lead the market, following the market, is selling when you know,ities is it a good way the make money all of those data categories are there. >>> i want to switch gears, on cryptocurrency if the you were ag, what would be your first target. >> i don't understand block chain or cryptocurrency. >> what is your interest, though you must have thought to yourself, if i were in office again, this is area i would look into. >> sure. and here's -- people didn't

for more, we are joined by oppenheimer's managing director of specialty retail, along with a equity retail. welcome to you both. the numbers for prime is huge. how much more can they keep going? there was a question last year whether prime membership is already plateauing >> beauty is, a million of boxes today, guarantee another 2 million going forward. prime is showing an ability of the amount of market share, mind share, and how this company is launching themselves into our lives is not stopping. we have the number today, last week we found out how important the alexa devices were >> they say 5 billion as an analyst, can you put that into some model is there any ways to quantify what that means? >> so we played with it last week, you could get to different iterations, they said the dot was the number one selling device and you know the dot was $29.99 so you can scale up. the numbers, 600 million, is still too low in the context of what amazon has to do, but at the end of the day, what's more important than the individual sale, there's this fly wheel once you become a prime member, they'v

the oppenheimer fund director of emerging markets. cloudy relations between the u.s. and our neighbors to the north. scarlet: the bank of canada governor talks about what else? nafta. this is bloomberg. ♪ julia: "what'd you miss?" the bank of canada announced it was raising the overnight lending rate to 1.25%. the bobbin are spoke with themberg canada partner -- bank governor spoke with bloomberg canada partner bnn. >> we began to scope out the channels that might affect the economy, but as we got into the fall it became evident we needed .o take seriously the breakdown that registered with the people we are talking to in the field. then we read did our survey in december, which was published a week or so ago, and was very strong concern of theirs, so in effect we are trying to gauge the level of concern in companies. we are trying to calibrate that to how much judgment we insert to our outlook. it is not that they are putting off an investment or reconsidering whether it should be in canada or not, so we have to acknowledge that as a

a friend of mine, ra wald, shown the before, technician at oppenheimer is talking about the s&p. we are at level 87 which almost is off the charts, as you can see here this is something we have not seen except 1% of periods going back to 1930 the reason this is notable is that people hear the term overbought and say that's as good as it gets. a sale signal. and i think he made the point that markets top pretty much a year after rsi or momentum peaks. so even if we are at these extreme levels, in and of itself, that is not a profitable symbol to be trading on. whether you take profit or short the market can you go back it prior examples from 1980s, 50s, 090s, where you have maximum momentum thrust higher which is what you are experiencing now markets could be as much as 30% higher 12 months down the road i think it is important to recognize things are pretty much as good as they get from a momentum standpoint. but that in and of itself is not enough to say, get out of everything at the top. >> what do you think about the other sentiment indicators like aaii -- >> i do think about

christian from oppenheimer funds was with us last week and he said people will have to take on a lotdebt. what it shows is wages are not going up as much as spending and risinge savings rate was in the aftermath of the financial crisis in 2008 and 2009, there was a cushion. he says we are eating through the question pretty quickly. tom lee takes it a step further and says part of the push higher is the rotation of negative interest rate bonds. massive savings low of $700 million a year that was not going into equities before but is starting to make its way over. julia: very important points there. why does that translate to the polls? trump?ident donald we will continue to affect question. save my charts and something just popped up. this is my chart. just looking at what we're the pullback onon bond deals. what extent and if we get to the 3% level. we're looking at the movement of 10-year yields. on the right, you can see it tracking up in 2018 quite significantly higher toward the 3% level. of course you have analysts out there looking at the fundamental reasons behind why we shoul

let's talk to a chief investment officer at oppenheimer funds. 2.6% print for the first quarter.he first estimate, versus a consensus estimate of 3%. is this the u.s. perhaps slowing first before the rest of the world? >> no. if you look at the final sales numbers, they were pretty good. at the end of the day, that is the core of the u.s. economy. inventory and trade took a little away from the headline number. i think the core strength in the economy is there. whether that would be the case in the second half of 2018 is an open question. most ominous, the sign is the savings wage, which has come down meaningfully. that does not mean growth will be constrained, but people would have to be taking on a lot more debt. after the financial crisis they were not doing that. but now they would have to. joe: to what do you attribute lack of savings? people are feeling good, will have their jobs for a while? krishna: i think it is straightforward. wages are not going up as much as consumption is going. if the economy is going to maintain its course, at some time, wages would have to go up

chief investment strategist with oppenheimer management, jeff carbone co-founder and managing partner with cornerstone you've heard the conversation just going on. john, let me start by asking you, your call for the s&p 500 is 3,000 in 2018 we're 200 points away from that right now. that means we're almost there, basically. and you say you get a little nervous when everybody moves to your side of the boat chrks you seem to think they are doing. >> well, tyler, we can't help but think that what we've got right now is a start of the year what's there not to like type rally. and by that i mean earnings look good, the economy looks good, there's a favorable impression related to tax reform and you have the beginning, we saw that in the fourth quarter and it's extended into now, the beginning of what we believe is bears, long-term bull market bears and skeptics of the bull market are beginning to capitulate, not quite by the boat load yet, but you've got a lot of that happening. that said, we've got to think this market could get ahead of itself if it keeps at this pace. you'll laugh when

. >> all right joining us this morning to talk about that, brievt levitt is oppenheimer senior strategistpost 9 glad to have you here. is what the secretary is saying revolutionary? >> no. the dollar made a tremendous run in 2014, 2015, came back, so depreciated by about a percentage point in 2017 but still that puts it at an elevated level compared to valuation levels >> so you don't see him writing a new doctrine as someone accused him? >> no, i absolutely agree. the dollar rose as the fed was radsing rates the first time and the rest of the world did not look as good where we are now, growth outside the united states looks quite good real yields looks very attractive, so capital is being allocated there. growth in europe, growth in japan looks good money is going to look good where the growth is strongest. >> how do we win the tailwind for stocks at earnings versus what the journal's complains of which is purchasing power for consumers? >> right right. from the u.s. perspective, i'm not really worried yochl view a pickup in strul activity let by the global capex cycle saving rates have

. >> a relatively positive view for apple from oppenheimer what do you think?at it from the stock climate, it would be more concerns with the iphone x production the asp variability out there is a really interesting nugget we'll be watching for here in this week's report one of the things i would say from the options perspective that i think is really interesting is with as much uncertainty and with the year-to-date performance, i would have expected the implied move ahead of earnings to be normal it's not it's pricing in around 4%. the sentiment is much, much more bullish than we've seen. that risk to the downside is at the some of the lowest levels we've seen over the last couple of years as to ari seeing levels for potential buying opportunities, we're seeing investors sell the 165 stot puts and buying the 170 strike calls, really looking to participate if apple does, in fact, break out to the upside here overall, while the stock looks bearish, the options are bullish. >> bullish, there you go thank you both very much for more trading nation, you can go to t

. >>> tuesday daily mill tv publish an article written by jerry oppenheimer the kardashians and americanis jenner in 1977. jenner who was at the time kristyn mary haughton was a store clerk and junior flight attendant for american airlines before merrying robert kardashian the next year when daily mail tv share the story on twitter the initial headline read, chubby faced 22-year-old chris jenner models never before seen shots. now in the peace garcia describes his ex-girlfriend as little chubby who would not have made it as real model because of her facial structure additionally publication uses the word chubby four times in the article and in the photo captions. when kim kardashian got word about this, she immediately slammed the website on social media. she said, chubby, really? that's the headline. how about beautiful, youthful, stunning? there it is right there. >> okay. >> if you have a tho free to tweet us #gooddaydc. i don't know. yeah. okay. >>> i'm going do move on. last but not least, of course we all know that american idol is coming back on the differ network. so will the sho

. >>> lululemon, oppenheimer raised the target price of the stock to 88. it is at 78 now.a sheriff joe arpaio announces his bed for the senate and also kelly ward. and now this, foxbusiness.com is reporting that congresswoman martha mcsally has spoken to the senate leadership fund as she prepares to run as well. congresswoman mcsally joins us now. ma'am i have to ask you straight off, are you running? >> stuart, stay tuned we do have a big announcement schedule tomorrow. so stay tuned. stuart: i don't know whether you can see me now, you're nodding your head. i will take that as a yes. >> i'm telling you to stay tuned. stuart: but you have a big announcement? >> yes, we do. >> i will move on, if that is okay with you. >> absolutely. stuart: okay. i want to talk immigration. the president says we need the border wall. we need to end the chain migration and we need an end to the lottery system. in return, okay, we'll agree to do something with the "dreamers." are you okay with that position? >> well, i was honored to be invited to the white house for that unprecedented meeti

oppenheimer has raised its price to $1450 per share. >> i think it's great and a lot of analysts tryingo play catchup. big tech is where you see the growth. they have reinvented it sells nec real growth there. investors looking for growth and not the place you can get it. stuart: microsoft $15 per share. march 2009. nine years later it's -- ashley: no wonder you smile. stuart: let's move on. on the screen right now the big tech stocks. i want to see all of your viewers want to know where their stocks are. we are going to tell you. that's a promise. but also i have coming up. the dow up 220 points right now. 26,023. give me stocks. just put them on the screen. all winners. our viewers want to know where are their stocks. changing it to dow winners. united health is up 2%. knowing is up another 2%. visa up almost 1%. nasdaq winners way up. i don't know that one is out. $123 per share. sending a letter to business leaders say their companies need to do more than just make money, just make off it. they need to contribute to society. that's an interesting message. he is saying you've got eve

he is chief equity derivatives strategist and christian amani is at oppenheimer funds. to both of you julian, let's talk about the stock market that gain of 285 points that then reversed and went a little more by the end of the day made people maybe start to think, okay, the market does go down as well >> and that's not a bad thing, actually, because one way price action like we've had to start the year off has gotten sort of that boo yauel yans, a little b froth in the market. this market has climbed on the wall of worry. every time the wall of worry came crumbling, as it did these last two weeks, you had more difficult gains. >> yesterday we had two guests, sam zell and sarik omar who both used irrational exuberance is that what this is or is it reflective of the increasing earnings gains? >> it's increasing earnings gains, but it's a little bit more than that if you're going to have a ten-year yield stuck at around 2.5%, we think it crepes higher. and you're going to have economic growth that's sort of anchored now around 2.5 to 3% versus 1.5 to 2.5% that's a recipe

check out shares of foot locker upgraded to outperform from market perform at oppenheimer citing theed sales momentum from the new nike offering. >> okay. last night's state of the union speech making twitter history with 4.5 million tweets. this was the most tweeted state of the union or joint session address ever topping last year's 3 million tweets the top tweeted moment during the address was when president trump claimed, quote, we stand for the national anthem. >>> coming up when we return, president trump laying out his vision for rebuilding america in that state of the union address. >> i am asking both parties to come together to give us safe, fast, reliable and modern infrastructure that our economy needs and our people deserve >> we'll get the ceo's response to the plan, michael burke, chief executive of aecom joins us after the break take a look at u.s. equity futures. we are in the green in a big way. dow up 213 points. you always pay your insurance on time. tap one little bumper, and up go your rates. what good is having insurance if you get punished for using it? news f

management this year as well as a look at earnings season we're joined by chris, managing director at oppenheimernd company. there's a lot of different things tax reform there's a 2.6% ten-year now, which might be good. what else is -- are banks facing, and should we pay attention to, credits? >> well, i think, first of all, let's pay attention to the fundamental back drop. the fundamental back drop for the banks i think is basically farable because in a rising rate environment, you can turn the low single digit loan growth that we're experiencing currently can turn into double digit eps growth the basic formula for that is that you have got 2% or 3% loan growth that doesn't sound that great, but with rising short-term rates, that will turn into 5% or 6% net interest income growth, which is 60% of the revenues if you can keep your expense growth to down to 1% or 2%, that will still drive upper single digits pretax net income growth. even with rapidly rising low provision as they normalize, and then you add 3% or 4% for buybacks that's kind of the basic underlying dynamic on a steady state basis.