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>> take a look at schlumberger it's got a nice downturn trend i'd also point out boeing.gain, it's a stock that's been out of favor for a while but reversing a longer-term downtrend. i think 2023 is going to be a year we're going to be talking about this market, and i look at stocks like trade desk and alphabet, and we're going to continue to probably lose market cap from here. brian, lastly, from a bigger picture perspective, i think you have to keep taking a look at the dow this year in 2023, because from our mini rbi perspective, when we do see the dow up, all other indices, the s&p, the russell, the nasdaq, the six-month forward returns are quite amazing, close to 12%, and that's 80% of the time it's only happened nine times since the 1970s, brian. >> wow maybe a little history on our side we like schlumberger we may avoid some of these high beta tech names. i ooh. going say something that will get me in trouble with my new york audience, which is good luck to the giants this weekend. >> thank you. >> at least my chargers made it for the first time in forever. >>> now

you own it >> i own it, and obviously, a-plus on adding schlumberger or slb right now at 34, the stock tr trimmed it at the end of last year and i think it's not going to work so well in the next six months, say, as inflation comes down this is really an inflationary beneficiary in many ways from a long-term perspective, i like a lot, but you might get it at a little better levels in the next few months. >> okay, weiss, this is from nate l. in kansas citi, it's a little long, so pay attention. i know your attention span is a little short these days. >> i bought 400 shares of tlt, that's the treasury bond etf, right? 400 shares of the tlt at $103 in late november. another 100 shares at 105.50 last week, following the cpi i believe inflation has peaked and is now rapidly decelerating and leverage accumulating across pnls will call prices to decline causing a sell-off in equities and money to rotate to long-dated bonds i would like for weiss to grade my trade he keeps it real >> so, so, i'm sorry, you were asking me about -- >> native. if that's what you want to call it, fine go ahead, we

one is schlumberger hitting a more than four-year high. >> they're not schlumberger anymore? >> no. they're sld. >> who is it ey, slb, ab. we have all these acronyms we've lost something pippa stephens, thanks >>> president biden landing in mexico for his first trip to the country since being inaugurated, joining the three north american neighbors. this marks the first time a u.s. president visited mexico since obama in 2014. we're joined by fred kemp, president and ceo of the atlantic council what are you watching? great to see you again. >> great to see you, kelly there is a change of globalization. some people talk about it as deglobalization. it's just really a changing of supply chains and what janet yellen, the secretary of the treasury said at the atlantic council was friend shoring or near shoring that makes mexico a lot more important. so last year a lot of americans don't actually realize this. last year america passed china as the number one trading partner of the united states they have a lot of manufacturing capability around automobiles. and the real question is can we

we're going to hear from schlumberger. i'm following the energy complex.rton, schlumberger, are doing well and i want to hear them to confirm it and what they're seeing in the energy complex. >> quincy, good morning, mitch roschelle. one of the things -- >> hi. >> -- that i'm very curious about for 2023 and the wall street journal reported on this over the weekend, which is blackrock and goldman sachs have different views on the 60/40 ratio for those in the audience who aren't familiar, the typical model would be 60% stocks, 40% bonds or fixed income. where is lpl coming out on the 60/40 ratio? because both 60 and 40 got clobbered last year. >> they did. had they absolutely did. as the fed, you know, went from a regime ofs massive liquidity, risk-on in terms of the equity market and then just went cold turkey on it and started raising rates so quickly that the market didn't have a time to adjust. right now, we see the ballast that's provided by fixed income as important in the portfolio. and i think you're going to see many investors go back in, they've al

. >> what about your picks >> we still like energy, schlumberger i know oil prices came off yesterday the things reopening we have more companies coming from russia and partners that we trust. i see that as a huge boon for american producers when you look at where cheniere exported to, they exported 90% to europe and they now have asian market coming on leechbl we like to services companies, we like cheniere for the natural gas skpofrmt they're a really, really well run company. and zoetis has done well we think they're going to go up. we love our pets like family my pet is definitely very high on my list of family members that we like. >> same for my dog i agree with you expanding is ready going up. >>> rbc cited fourth quarter misses for tesla could cytolow markets for the maker. ubs citing increasing difficulties around the klaus sector and potential impact on amazon's aws division for that move also union grading provide as your cloud and office services. >>> futures in the genre right now. "squawk box" is going to take it from here. thanks for watching. >>> good morning stock fut

think of them as being the equipment services of tech, the way schlumberger is the services of the energyector. they are going to be more resilient in this very cyclical business. they are a little less affected by the decisions like the one apple just made. they have high barriers to entry because the amount of capital that has to go into building some of this equipment is very substantial. they are very well-managed companies with strong cash flow, with strong balance sheets, that are very disciplined and they have had to be in an industry like this. they are companies to own, collect a dividend, and wait for some of these semiconductor issues to work their way through. it was a terrible year last year, down 33% overall for the sector, so there's definitely value there if you are selective. caroline: a lot of geopolitical risk wrapped up in that. we have talked through being cautious but still holding on to the microsoft and apple, but talking about the areas you are looking at buying into, why -- what should you be avoiding at all cost? emily: this is risky to say but some of these ipo

the company formerly said known as schlumberger, the order books are failed and in expansion mode afterrs of retraction. i think hal has a multi year rally. you know i i thithink oil will bounce this is a terrific moment to buy a stock we own for the charitable trust next up the s&p biggest winners, two sides in the same coin constellation energy and end phase. constellation is a utility 90% carbon free because they're arguably the best operator of nuclear plants and if our government is serious about fighting climate change, nuclear is the most logical solution but there is a disaster that holds down the higher industry three mile island and then fukushima. hopefully it's been long enough leaders will embrace it. fortunately, the biden administration is on the right side of the issue. the inflation reduction had had an overwhelming name but honest to call the constellation energy act. great for the stock and has the added advantage of good policy even though constellation had a huge fund last year, it's more on the upside and same for another winner end fphase, which is a favorite sola

liz: occidental petroleum, three energy names, schlumberger, they are rebranding, up 44%. occidental up 70%, natural gas up 50 one%. you think there are more gains? >> probably two or three year upside. liz: we had the ceo on and we have been ahead of that story. great to see you both, nice to have you. ftx part 2, yet another crypto company is deemed a ponzi scheme, bitcoin fights to stay above the fray of the fallout from sam bankman-fried's crypto collapse but congress losing patience, will the government change the digital currency markets, we will take that up with the securities and exchange commission or known as crypto mom. hester purse is next in a fox business exclusives. closing bell ringing in 49 states. the claimant countdown is coming up next on the last day of january. you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. hi, i'm katie. i live in flags

companies in consumer discretionary like aptiv and tapestry or an energy like eog resources and schlumberger, microsoft and technology, in the year ahead we think they could be outperformers. >> if people wanting to start thinking through what happens if we go into recession, would that change everything that we talked about, if the picture in 2024 looks like a harder landing than what we can currently see? >> right now i think the market is already anticipating a recession. the market has had a bear market and a recession every time we've seen cpi above the 6% level, whenever we've the lei on a year-over-year basis be negative, whenever we've had an earnings recession and whenever we have had such a steeply inverted yield curve but i think a lot of that has been factored into the market. what has not been factored in is a depression, in my opinion. and usually when the nber, national bureau of economic research tells us we're finally in recession is usually close to the bottom so that's typically a buying point, not a selling point. >> great point, sam, thank you we appreciate it today sam

market cap to some of the domestic producers, companies like devon energy, diamond back energy, schlumbergerse are names along with an exon and chevron that are going to do well i think it's a three-pete for outperformance will we get another 60% move it's hard to say it feels good to be involved in energy. >> one of the subtexts that we've been talking about all week is whether the global economy stumbles a little bit potentially later in the year. if that were to happen, sam, what would happen to oil prices? >> well, it's already happening on both sides. i mean, i think the data that you're seeing is realistic, the economy is having some struggles in the context of rates rising and a lot of inflation and so that's coming back to oil prices by way of demand, particularly in the u.s. china has upside because of a reopening scenario, but there's a lot of inventory in china that's accumulated as well within their lockdown. and china is ramping up their exports of refined products which could ease the supply constraints for diesel and some other factors. i think the risk that you're describing

so we really like slb, schlumberger. like pr, permian resources debuted september after a merger f you prefer etf, one i like drill. drll. charles: i can't forget that one, drill, baby drill. tracy, thank you. coming up kenny polcari has generational ideas, generational. even eight-year-olds will make money from this. get ready at 2:40. first double line capital jeffrey gundlach explain his webcast that made so much news it is still reverberating from wall street. you get a chance to hear from the man himself. he is next. here is the thing i can't wait to ask him about recession. why isn't he not investing in america. why there are other more attractive places. we'll be right back. ♪. i'm a vegas hotel. i know what you're thinking - it's cool, i don't want anything too serious either. just a fun, spontaneous thing. i'm looking for someone who will let loose. dress up a little. see a show. order the steak and the lobster. some people say i'm excessive, but who cares. i'm just looking for a saturday to remember, and a sund

. >> and guy, you have been many of the new names, the new name for slb formerly known as schlumbergerulations, oil was $60 a bail five years ago. before we even heard about pandemics or whatever. and if i could have gone then and said to the ceo of chevron or exxon, oil is about $75 to $80. >> they would have been like great. >> sign me up. >> and now we're be moaning $80 oil. >> folks at home are saying why are they talking about -- >> i'm still wounded from this go ahead. >> dan is 100% correct in so much as crude has collapsed, the commodity. from 130 to 75, if that was anything else you would say it collapsed. if it was a stock -- >> or i should have never been in at 130. >> that is where all of the $250 targets. you probably had analysts on your show all of the time. >> 250 was like -- >> a $200 target. >> if everything went terrible. >> where is the extra supply >> let me ask -- >> where is the supply coming from. >> it feels more like 420 from that -- >> i have a question okay i don't have the answer. what if -- if peace were to break out tomorrow in ukraine, right, and the ukr