you can do that with richard bernstein at richard bernstein advisors.morning. richard bernstein's work is definitive. it's so appropriate right now. how does he navigate the noise and invest in the new age of media and height? help us navigate the noise right now. how do you go along stocks amid all of the 2023 noise? >> that book was written well before the age of twitter and social media so you can imagine the exponential growth in the amount of noise you have out there. i think it behooves investors to come back to brass tacks and fundamentals. what are the prophets doing that you are buying and how much are you paying for those profits and i think people lost sight of that and they invest in stories without a care for the underlying fundamentals. the profit story for many of these companies out there no matter what sector you talk about is still pretty good. we think it will accelerate from here. i think that is positive but on the negative side, people have no care for how much they are paying for some of these stocks and that's where i think the r

richard bernstein.hank you. >> great seeing you. >> same here. >>> much more to come on our program but as we head to break join us for our delivering alpha summit two weeks away, september 28th in new york city. investors, business leaders, going to provide ideas and insights to help you balance risk with maximized return. the content is going to flow like a fire hose, man. scan the qr code on your screen or visit cnbcevents.com/delivering alpha. it is bound to be enlightening. (woman) what if my type 2 diabetes takes over? what if all i do isn't enough? or what if i can do diabetes differently? (vo) now you can with once-weekly mounjaro. mounjaro helps your body... ...regulate blood sugar... ...and mounjaro... ...can help decrease how much food you eat. 3 out of 4 people reached an a1c of less than 7%. plus people taking mounjaro... ...lost up to 25 pounds. mounjaro is not... ...for people with type 1 diabetes or children. don't take mounjaro if you're allergic to it,... ...you or your family have med

we'll find out more as we get through this great to talk to you again thanks richard bernstein. >>> president biden scheduled to join the united autoworkers union on the picture line in detroit in the next hour we'll take you there live. phil lebeau is on the ground with the latest. phil, as we await the president. >> he just boarded air force one. it's our understanding they're going to take off shortly. they'll be here noon, 12:30, whatever it is, and then begins the show with president biden and the uaw here in town here's what we're expecting. he will be visiting with strikers at some point at an undisclosed location we do know there will be a camera, joined by uaw president shawn fain and the message has been clear what we've heard from the president before, we'll hear more of today, support for those picketing. let's be clear about this. the uaw has not endorsed joe biden for president. he would like that endorsement but the uaw has been a bit more standoffish when it comes to the president. they clearly are appreciative he's coming to town. they invited him to come here but they haven'

sonali: joining us now is axonic peter cecchini and mike contopoulos richard bernstein . need to note where you think things are going to start to crack as things they hire for longer. mike: you look at investment-grade corporate bond spreads and their only about 119 basis points the investment-grade market is rising in the best of times. at the end of the day, the risk behind the investment-grade market are not huge. most investment grade companies have turned out their debt. many of these companies generate a ton of cash flow. high quality companies. the problem is the spread already reflects that and you can pick up similar yield without taking the credit risk. from our perspective, it is not that we expect spreads to widen dramatically to 180 basis points, it is more a function of you can create structures that you take no credit risk and get a similar type of yield so why not do that. the other thing that is concerning is if you look at the vix, the move, they tend to be very good leading indicators of where spreads are going. move and fix very low at the moment. wha

richard bernstein advisors on "fast money" yesterday forecasting 5% before year ends.p an. -- 5.13%. and the benchmark crude showing $94 a barrel. brent crude up at t$93. >>> the clock is ticking to the uaw deadline today for the serious progress from ford, gm and stellantis on contract negotiations for the uaw's 150,000 u.s. members. now 13,000 members are on strike since the walkouts last friday. phil lebeau is joining us from outside the ford plant in wayne, michigan. phil, good morning. >> reporter: frank, we are expecting more strike locations later on today. let's talk about the developments from overnight. we will get an update from the uaw later on this morning. shawn fain is expected to talk on facebook live, his chosen me method, he is expected to give more strike locations. 12:00 p.m. eastern is when new walkouts begin. whether it is one or two or three plants is yet to be seen. new internal messages were leaked yesterday and this confirms what people have been expecting in detroit for some time with regards to the uaw dragging out the process. not wanting t

jonathan: great line from richard bernstein.russell 2000 continues to stretch. we should hope this does not continue because the situation is dire, we are not that bearish. my first question, is that a hope or a strategy? [laughter] lisa a: that is a good question, especially as people say ai will do everything, cook your meals, clean your homes, and drive you to practice. this is the reason people keep going into it, even as you have people saying it is a big bubble and nvidia is leading the charge. at what point do you have a reckoning if the earnings are delivering even as you see molly performance in other areas? jonathan: certain investors have said, a big bubble, i will have some. lisa a: i am all in on the fomo trade. jonathan: massive gains. lisa a: this is the question going forward. i thought it was interesting. really yields going up used to be a killer for tech. suddenly it is the haven. and you have rate areas going down. jonathan: futures negative zero point 2%. in 45 minutes, david leibowitz -- lebovitz of jp morg