katie: still with us, greg staples, megan graper, and winnie cisar.hat's the blackrock view, that we will see it outperform, which is different from the consensus on wall street, that investment grade will break the two-year losing streak against junk. megan, what is your view when you look at ig versus high-yield? megan: at the end of the day the majority of the market sees investment grade is the most attractive sector in credit so not surprisingly as was eluded to in the intro, we had a record-setting pace to start the year following what had been a very anemic $8 billion december. there has been a lot made of the uptick. i think it largely has been newsworthy because it stands in such stark contrast to a market that is disappointed to the downside in all but four weeks over the last six months. but not because it is particularly astounding in terms of historical january volumes. in fact you tend to see 44% of january new issuance materialize in the first week of the year. at the end of the day, where i see value is probably more so in investment g

if the line is declining, it's underperforming staples. this setup is quite good look at long-term, this is fascinating. this is going back to the dot com peak what you're looking at is health care outperforming until 2000, health care underperforming staples all the way to '09 and now outperforming again. to my eye we're setting up for an important breakout to all-time relative highs. that would be xlv versus xlp we like health care. >> mike, what do you think there? do you agree with that >> yeah, i mean, the multiples for xlp and the broad market are within spitting distance of each other. which one's going to be more stable the answer is always going to be health care. buyer paid $0.29 there looking at staples, they have a lot of margin pressure issues, so they have higher costs but they haven't necessarily been able to pass all of that on to consumers. it doesn't matter if you're talking about package goods. we had that disappointing news out of constellation on the beverage side. xlp paid $1.19 >> bonn win, could things change at any

health care divided by consumer staples. the only way to interpret is if the line is rising health care is outperforming this setup is quite good look at it long-term this is fascinating. this is going back to the dot com peek health care outperforming until 2000, outperforming staples all the way to the '09 low and outperforming again. to my eye we are setting up to an all-time break out for all-time highs that would be xlv versus xlp we like health care. >> mike, you agree with that >> the multiples for xl sbrrks the broad market with within spitting distance, but asking which is more stable in a recession nary environment the answer is always health care looking at staples, they have a lot of margin pressure issues, so they have higher costs, but they haven't been able to pass all of that on to consumers, and it doesn't matter if you're talk about packaged goods disappointing news off constellation on the buyer side. >> bonawyn, could things change? >> i think it's a relative value trade. i think you're good on both. >> g

discretionary over staples given valuations?ar we prefer consumer discretionary over consumer staple companies. obviously valuation is very important. if we look into the last three years during covid, consumer staple companies have in general outperformed on discretionary to a large extent. this is driven by much better earnings of the staple companies compared with discretionary companies. looking into 2023, we do think when china is reopened -- when china's reopened, consumer confidence recovers, they will spend more on discretionary companies and the earnings outlook for discretionary companies will look at her. -- better. discretionary companies over staple companies. david: we were talking during the commercial break. you are excited over appliances. the ubs evidence lab, survey, tell us about the survey, and white acs -- and why acs in particular? >> there are couple of reasons for our bullish view towards the major appliances, especially about air-conditioners. firstly, consumer confidence, it's very important for the di

. >>> still ahead, we're piling into consumer staples. the sector was only down 3% last year, but is that enough to justify its high multiples three names reporting results tomorrow before the bell that's coming up on earnings exchange but first, the house speakership still in limbo and that could have big implications for investors waiting on policy changes. we'll get the latest from washington next on "the exchange." what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >>> welcome back to "the exchange." it's been several years since a house speakership needed multiple ballots and it doesn't look as if we're getting a resolution anytime soon. y lan m

and health care, those are the three defensive sectors, consumer staples and health care in the red. chart of the day, it's microsoft. at the bottom of the dow after a ubs downgrades in stock to neutral from buy, citing risk jeff solomon will join us. >>> plus, we'll talk to moody's analytics chief economist mark zandi about the job cut news at salesforce and the broader trend of layoffs, where the job market stands let's get to the dashboard with senior markets commentator, mike santoli. what is on your radar? now it's only energy in the red. >> the rally had some of the starts taken out by the fed minutes. the s&p 500 is still caught in that very new year mean reversion type action. the laggards of last year performing well. the leaders of last year coming off the boil a little bit. that has kept us in this zone, just about 3,800 now, the market didn't make my real use of the traditional late december strength except to fail to break down, again, this 3,800-ish level. keeps it out of the october low zone, and takes us all the way back to six or seven months ago. have not climbed ab

consumer staples, you might say why?r is pulling back on the retail sales numbers, these stocks have done very, very well last year. they're pulling back a little harder to explain is why some of the retailers are up today. some of these names that are out there, the department store names like kohl's have been on a tear the simplest way to explain it, they are dirt cheap and sold off very bigs room to drop. contessa, back to you. >> bob, thank you for that >>> now for a check on bonds, the yield on the ten-year note falling sharply, trading below 3.4% lowest level since september the drop coming on this morning's ppi numbers, which showed prices falling more than expected wholesale prices down 0.5% that's compared with an estimate of 0.1%. adding to the recent signs of the inflation. >> oil is higher, olding above $80 a barrel let's get more on that tell us how oil is closing >> it just dipped into the red ahead of the close, after earlier topping $82. but it is coming off eight straight days of gains this is china's de

than a tech company the utilization is fairly high if that's the case and it's a staple asset, they pe range that's a way to look at apple. >> we have seen some reports about some details tailgs on a new mac model, things like that. is that part of the business material, you know, to the immediate outlook? >> not ipad, it's been a pretty good growth driver for them during the pandemic, but the reality is i would argue all day long is actual iphone is still the number one kpi in regards to what happens to apple. >> sure. you know, is it the time in the product launch cycle for a toll actually start doing okay? i'm trying to remember, you know, the cadence of once we've had a launch of a new iphone what tends to happen in the following year, or are we beyond those patterns now because it has been smoothed out so much? >> my hope and expectation is that it's been smoothed out so much, but, you know, the cycle from apple traditionally, the number was not so good and i think with iphone production issues have had have been pushed out from the channel-filled dynamics by a quarter or so. s

and over the last few quarters what we've seen with the consumer staples is they have increased theirces to account for inflation. now when these consumer staples actually increase their prices it is quite often they don't take them down again. charles: right. >> but what we're seeing in the cpi and what we're seeing in the pce, many of the raw material input prices are coming down. so for example, the cost of potatoes, the cost of oil, all of that is coming down. so i think what we tend to see in the next couple of months is a margin expansion. so we'll see revenues at the same level or similar levels, let's say. but we'll see costs coming down. so profitability will improve. i think these are worth owning. charles: that frustrates so many people, right? they kind of understand with runaway inflation and your costs go up as a producer but in this case, not only do the costs stay, but the "shrink-flation," they never bring back a bigger bag. >> absolutely. charles: see you soon. we have one of the premier brightest minds on wall street. we're here to talk about the federal reserve, th

a little less than the overall market it's a broad rally consumer staps staples are down.stocks are up today what is driving the gains for names like amc, i showed you bed, bath & beyond, gamestop amc up 17% and apple andral tve stocks rallying when we take you inside the market zone and, technologists in india, and customers all on different systems. you need to pull it together. so you call in ibm and red hat to create an open hybrid cloud platform. now data is available anywhere, securely. and your digital transformation is helping find new ways to unlock energy around the world. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wh

consumer staples companies, especially the ones with big brand-name portfolios are in focus. if you look at kimberly clark, it's going to be $1.51, that's what you're looking for in terms of earnings, about $4.1 billion overall in terms of revenues what you're going to watch for, as with every consumer products company out there is what's going to happen with regard to their international operations many of these guys have international exposure, so ku currency headwinds in fx will be a problem and/or tailwind depending on how things work outs the other things to watch for, it will be about the brand portfolios that they have. are people willing that pay up for those things like kleenex tissue, cottonelle, or huggies diapers. that's going to be big and the other thing to watch is whether or not there is still pricing power in the brand portfolio at a company ik kimberly clark the one thing we learned this season early on from procter & gamble, which is literally the behemoth when it comes to consumer products, is that they did raise prizes and they were able to do so, but the

health care catter, which one the stronger hold >> very safe haven area of the market, of course, staples and health care. one line, it's a ratio, one versus the other the only way to interpret it is if the line is rising it means health care is outperforming this is going back to the dot com peak to my eye we're seing up from an important breakout to all-time relative highs that would be xlv versus xlp we like health care. >> mike, what do you think there? you agree with that? >> the multiples are within spitting distance of each other. but ask yourself this question which one is going to be more stable in a recessionary environment. the answer is always going to be health care. looking at staples, they have a lot of margin pressure issues, so they have higher costs, but they haven't necessarily been able to pass all that onto consumers. we had that disappointing news out of constellation on the beverage side. >> could things change at any point? >> i think you're good on both here >> good on both here and feel good about it. >> absolutely. >> finally the main event, the defending develo

no, you said i have sensual fingers. asked to remove the staples, i brought alcohol. well, no, i see, turn on the light. husband will get again from where? i don't remember anything. did it tell you where to go? no, you don't have to decide it 's okay. now my husband will come to his duty in the morning, call. if you don't want to, don't call. come on. the soup was lost so the car took to get through to you, palamarchuk could not. everything everything, as they lost, i found somewhere alenki on documents on administrative responsibility for prostitution. on this basis, to recognize the child as an heir is somehow established. who is better yes, that's just in front of me sitting. i don't know if it doesn't fit. i can't help but love classical music for you for the child. can you? will you have vodka? well then beer. well, look well, look romka, i won't give it to you. and you won't live here. my apartment is yours i do not argue. and i'll stick you in your throat right in the adam's apple. firstly, i'm stronger than you and i haven't broken your face. it was i who was

>> staples, health care, utility have been under pressure as there's been rotation to the more cyclicalas of the market you've seen the industrials, financials so some extent. but the most sort of curious is that very early cycle consumer names, restaurants, retailers, have really acted well and yet that would not make sense if you can say that in the context of a perspective slowdown just ahead. it just shows -- i think we were discussing that earlier, that the playbooks that are so relied on are nefb ver that reliable. >> carter, thank you very much for your time. >> thank you >>> don't miss short seller jim chanos tonight >>> the gig economy is about to become profitable, what? that's according to one analyst who initiated uber and doordash with an outperform today let's look at tyler matheson getting ready. i'll join him on the other side of this icbrk.quk ea is something. as an expedia member, you can save up to 30% when you add a hotel to your flight. so you can have a bit more money, to do even less. hello, world. or is it goodbye? you know, it seems like hope and trust are in sh

that was the staple singers 1972 single "i'll take you there." first guest is the youngest member of his family singing group, you may have heard of them, the jonas brothers! you can see their show live february 17th, 18th, 19th at park mgm. you've got to check it out. it also may be the best news ever, he's out with a new flavor of backstage popcorn. available online and nationwide starting tomorrow. it's like don't start eating it unless you want to eat the whole bag. we'll be revealing it later, but right now give it up for nick jonas! [cheers and applause] ♪ ♪ ♪ ♪ it's nice to see you! >> hello, hello! we did an interview and i don't remember your hair looking this. >> i think i was wearing a hat. >> kelly: i love the longer look. >> it's too long. >> kelly: you're going to cut it? don't do it! it's so cool! you've got the natural curl thing going. >> i just get frustrated having to do it in the morning. >> kelly: said every woman on the planet, join us. it did you make any resolutions for 2023? >> i didn't make any resolutions, but i have a

but some supermarket staples are not cheaper by the dozens. cbs's michael george has the details. >> reporter: what was once a cheap breakfast staple in almost every kitchen has somehow become a luxury item. >> it's like $8 a dozen for a ju jumbo egg, which is ridiculous. >> reporter: even as inflation is cooling, the cost of eggs keeps rising. last january the average price for a dozen eggs was understood $2. by december it had more than doubled to over $4. even dprogrocery stores are fee the pinch. >> we're actually losing money on every dozen eggs we sell right now. if we go higher, we price ourselves out of the competition completely. >> reporter: the main reason for the skyrocketing price is the deadliest outbreak of avian flu in u.s. history. tens of millions of birds have died or been slaughtered. egg industry research scientist says high demand around the holidays also raised prices. >> what needs to happen to get egg prices back to what they were? >> what needs to happen is to recover from the avian flu and to prevent new cases. >> re

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energy, healthcare and certainly staples. they've had a significant run.other end, you're talking about growth that is attractively valued and wave created that companies like apple, microsoft. to a certain extent, meta. if they put a lot of their spend on other things and address the core business, but i think alphabet, microsoft, and apple are three great examples of a contraction. you've seen deflsable motes around their business. you've seen shareholder friendly managements and i think that the multiple compression we've seen in those three names alone and there's a host of other ones fi that bill of growth. >> thank you very much happen fi new year, my friend. >> thank you >> still to come, jon fortt bringing us his interview in today's working lunch and speaking of cloud, check out shares of microsoft. the stock is down more than 5% today, ubs downgrading them citing risks to azure. that's coming up in today's three stock lunch. lily! welcome to our third bark-ery. oh, i can tell business is going through the “woof”. but seriously we need a reliable

it's a broad-based rally materials and consumer staples are leading the way right now but it is across the board and technology is bouncing back strongly after a rough start to the year the nasdaq up 2.7% information technology as a sector is up more than 3%. >>> coming up this hour, legendary value investor bill miller iii and bill miller iv. le their topics and including whether they're still bullish on amazon and bitcoin as well as their fund succession plan senior markets commentator mike santoli. what do you make of the rally? >> it's impressive, actually it shows you the energy that got built up pointing it out around 3800. the market has refused to buckle below that level that goes all the way back to midmay of last year. there haven't been that many prolonged periods of time in the last year when you didhave suc a period where the market really did just sort of churn sideways in this very, very narrow bend what does that mean long term? we're going to tag 3900. looks like we just did hasn't been at that level since december 15th of last year it is still obviously in a down tren

cbs's carter evans shows us the lengths some people are willing to go for the breakfast staple.tonight, guns at america's airports. the record number of firearms confiscated at security. wait until you hear just how many of those guns were loaded. the 12-year-old boy who caught a great white shark. >> i don't know if i want to go up against a shark. >> o'donnell: and, making dreams come true for america's heroes. this is the "cbs evening news" with norah o'donnell, reporting from the nation's capital. >> o'donnell: good evening to our viewers in the west, and thank you for joining us on this tuesday night. tonight, there are alarming new details about what the mayor of albuquerque is calling politically-motivated shootings. a failed republican candidate is under arrest, accused of hiring men to shoot at the homes of democratic lawmakers. plus, cbs news tonight has new details on the timeline of the special counsel's investigation into president biden's handling of classified documents. but first, we want to start with those major storms that are pummeling the west coast, and the

when it comes to eggs, americans are shelling out a staggering amount of money for the supermarket staplemore from abc s andrea fuji. this morning with grocery prices, especially eggs, putting a bigger dent in americanswallets. analysts have high hopes for the new government report on inflation due out today, it's expected to show consumer prices last month rose 6.5% compared to a year ago . that's encouraging when compared to the 7.1% increase in november, but not nearly enough relief for most shoppers. it's just too much. it's too much i don't want to buy any can't afford it. overall food prices rose about 12. sent in the last year. but eggs have been a whole different story, with prices more than doubling, even tripling in some areas. shoppers at one store in new york reporting a carton of eggs now costs more than $11 restaurants say they can't keep up. we figured a case for about $27, and now we're getting them for about $150. it's not just inflation. the worst bird flu outbreak in years has taken a toll on the industry, coupled with high demand during the recent holiday baking season

so according to the countries statistics institute, now, prices for daily staples, in particular rows last year, while salaries have not kept pace with inflation. runaway price hikes for groceries or eating away at the purchasing power of argentines. cooking oil shot up more than 450 per cent. last year. the price for milk more than tripled. the cost of living and argentina's out of control. despite the implementation of multiple price control schemes that the government set up in conjunction with supermarket chains and suppliers, what reality i'm effort in my daily life. inflation affects me. i suppose, like all argentines in all aspects. i mean, you have no security, you can't plan, you can't predict anything into the future. we effect i, aliya inflation affects me too. especially with food i c, k, m. and so unfortunately, i have to adapt and use all the promotions and coupons that they are offering us. and also fun of her kinda argentina has been grappling with an economic crisis for years. there are many causes of inflation, including a persistent budget deficit and external facto

months of dateline london and the film review — both reported on this programme — a third news channel staplets final edition on monday, signed off by david eades, who himself left the bbc this week. just to say that tonight has been the final edition of the papers, here on bbc news channel. all i can say now is thanks for watching. the papers theme plays but many people had plenty to say about the dropping of the papers — a nightly review of the next day's newspapers featuring two guests, normally journalists. one of its original presenters, clive myrie, described it as "the end of an era," tweeting... and we've heard from a number of fans, including helen murphy... muriel crane added... well, the move comes ahead of the planned bringing together of the domestic news channel and the international world news channel, expected in the spring. and we will be exploring the wider implications of that merger in a future edition of newswatch. but in the meantime, this is what the bbc had to say... the rhetoric from the powers—that—be at the bbc talks more and more these days of the need to become a

and in the meantime, tell us more about what sort of staples or nato is in. there have been reports that he's in hospital. yes so so now has basically some say maybe even put himself into exile. he's been in the u. s. he hasn't really talked too much about the topic. he only said that it's of course not right to go and storm government buildings and but he has really spoken out against lulu putting any blame on him. he says he has nothing to do with this and now he's in the hospital. he says it has to do with complications of the room that he received when he will stop back in 2018. the w report of beatrice christophe road. thank you very much for bringing us up to date. thank you. the u. s. government says iran may be complicit in war crimes in ukraine for delivering attack drones to moscow. russia has set up its bombardment of ukraine cities using drones, many of which are iranian made. but russian troops have made few gains in the east where the offensive is concentrated. russian artillery has been shelling back moat incessantly, but ukraine continues to d

lots of sectors participating including energy and consumer stay per -- consumer staples.so higher by 2.16%. tech is up .9% as apple tries to recover and reclaim support and we will see if that happens. utilities is another strong factor. let us look at the two year yield because we have quite a bit of movement thank -- similar to the s&p 500. you can see on this data that came in higher than expected absolutely plunging as the continued expectation and whether or not investors get this right, that the fed will back off. the fed has given no indication that they are more likely, to my year at least over hike as opposed to not let investors are not taking that and bond traders are getting whipped around. finally one etf that has outperformed is an income etf, jp morgan. it is down just 13% relative to the s&p 500 and down 19%. look at these record inflows and folks wants that diversified income portfolio and this is one way they have been doing it. so the jp morgan income etf. guy: income is always important because you can get 5% on a money market. thank you very much. i w

do this, at staples and toilet paper cheap, so you can splurge on the nice things.ear plus. stuart: does everybody else? lauren: a lot of people splurge, and people buy used luxury, they add 20%. and -- stuart: used clothing. a designer bag, they had the gucci level. and we have an enormous response to that. congress banned tiktok on all government devices. now senator how we wants to take a step further and ban the chinese owned apps nationwide. we have details on that. florida governor desantis wants schools to take phones away during class. watch this. >> why are kids on their phone during class time. the school district is in their rights to say leave your phone in some cubby or something, go sit in class, learn. stuart: but one analyst called the desantis proposal dangerous. rachel campos duffy, mother of 9, i will ask what she thinks next. 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

opportunity relative value compared to the domestic companies in the multinational area primarily in staples and commodities. very select commodities. we are forecasting slowdown. not recession. >> you say commodities tied to the electric vehicles. can you give us an example it is a wide range >> we're bullish copper. we have been for a long time rather than figure out the underlying technology of the evs, we are looking at the components looking to create the charging stations and significant player we have been bullish on copper >> kalei, thank you. joining us from hawaii and it's midnight sdpl >> it is an honor to see you happy new year >>> watching shares of apple financial times reporting that apple is expected to sign a new contract to produce the most high-end iphone models this would snap foxconn as the biggest production company in china. this is something to watch "wex" is back after this ♪ ♪ a cyber-attack can grind everything to a halt. cisco security keeps your company moving forward. because if it's connected, it's protected. cisco. another busy day? because if it's connected,

while inflation has slowed for six straight months, some grocery store staples have continued to skyrocket in price. one item that is leaving consumers shell-shocked is eggs. cbs's carter evans takes a look in tonight's "money watch." >> i have not been able to find eggs anywhere. >> reporter: the line of cars is 30 minutes long at billy's egg farm in southern california. >> i appreciate you waiting. >> reporter: and workers are scrambling to meet demand. >> we pack eggs in here 8:00 to 4:00 nonstop. >> reporter: he sells 25,000 fresh eggs a day for $5 a dozen. >> that's a pretty good bargain right now. grocery stars are $7 to $9 a dozen. >> reporter: that's if you can find them. this is what a lot of store shelves here look like. at egg tuck, a breakfast spot in los angeles that goes up to 6,000 eggs a week, costs have quadrupled and they're feeling it. >> all of our courses are made with eggs. >> reporter: nationwide, prices for grade a eggs are up 137% from last year to an average of $4.25 a dozen. why is there a shortage right now? what's going on? >> well, i'm sure you heard. there is

what's not strong, health care, staples, entry, industrials, and communication services just tipping the red looks like nasdaq is going with a gain the chips, like nvidia, tesla, microsoft, amazon, those are all helping today. also we have lower yields and a weaker dollar. that's it for me on "closing bell." see you tomorrow everyone. now to overtime with scott wapner >> sarah, thank you very much. welcome to overtime i'm scott wa wapner you just heard the bells we're just getting started i'll speak to tom lee, who says stocks could rally another 20% in 2023. we'll ask him as the fed continues to talk tough and the economy is expected to slow even more and that's where we begin. our talk of the tape, a bombshell, the head of the atlanta fed suggesting

utilities, health care, staples. it is a 180. we're getting leadership from the right areas now, and those are the groups we think can continue to lead as we likely avoid a recession and actually get better economic data the second half of the year thanks to the weak dollar. >> isn't it predicated on the dollar weakening and the treasury yields continues to fall >> not the whole thing clearly if the dollar were to soar again, that would be a headwind for the bulls what we've seen with global banks, it could be to the down side. >> there's a feeling the market is too optimistic of a potential fed pause or pivot into cutting and a lot of this rally is predicated on that we just got this 2.9% gdp number it's not good news the fed is trying to slow growth, slow inflation i guess it's good to have economic growth, but not at a time when the fed is hiking, and now there's an expectation it will have more work to do. >> you're right. the next two quarters, we might see gdp. maybe that's what the fed wants. the truth again if you look un

up a third of 1% and most sectors higher scent foreutilities, health care and stap staples. we'll be right back. if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee, even if it received ppp, and all it takes is eight minutes to get started. then we'll work with you to fill out your forms and submit the application; that easy. and if your business doesn't get paid, we don't get paid. getrefunds.com has helped businesses like yours claim over $2 billion but it's only available for a limited time. go to getrefunds.com, powered by innovation refunds. we planned well for retirement, but i wish we had more cash. you think those two have any idea? that they can sell their life insurance policy for cash? so they're basically sitting on a goldmine? i don't think they have a clue. that's crazy! well, not everyone knows coventry's helped thousands of people sell their policies for cash. even term policies. i can't believe they're just sitting up there! sitting on all this cash. if you o

the consumer would be spending on the defensive names and nondiscretionary items, consumer staples.urve is ahead of itself but it is still getting the hawkish sentiment from the fed. it would be churlish to go anywhere else in terms of the yield curve. from investors standpoint, it's a good time to be sitting in cash. there will be more fallout than some of those lagging sectors like real estate. alix: what's confusing to me, you look at the breakouts, homebuilders, transportation, these sectors could break out. those sectors don't make sense if the bond market is pricing in something binary like 5% and stay there or a bunch of cuts because we are looking at a big recession. aoifinn: this was the question of the day a few weeks ago, how much of the bad news is in the price? with homebuilders we saw a slackening and demand for new homebuyers. much of that was already in the price. if you look at the way netflix numbers have increased, i would guess that we are getting close to a normalization. we are coming out of the post covid froth and we are getting close to a normalization in ho

strength in the financials, consumer discretionary and staples are positive what's not working well? utilities, communication services and industrials >>> wall street is buzzing about a potential shakeup in some of the top economic posts we'll tell you about psiosble changes at the fed and the white house next this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. >>> what is wall street buzzing about? lael brainard, multiple reports saying she's the front-runner to replace brian diece. other names under consideration, gina raimondo, gene sperling, a top adviser to president biden, led the nec twice. sylvia burwell current president of american university brainard is an obvious pick. she worked as undersecretary to treasury during president obama's administration, she has deep knowledge on global economics and policy she's been on this show multiple times. the job is not to be chief economist for the president, it's a job to coordinate the flow of ideas and policy information and recommendations. so it's helpful to have someone with a broad r

and in northern california, staple of coffee shop working to unionize song. the recent wave of retail store unionization ys. plus, we're talking with a stop api hate representative, but how the community is dealing after this horrific attack from last night. >> last night, this massacre happened in a space where the community was coming together to celebrate. it happened in a space. what should be about joy and building community and instead we see gun violence. >> that was san francisco state senator scott wiener speaking at a lunar new year event today. talking about the mass shooting that left 10 people dead and at least 10 injured overnight in southern california. the shooting did not deter crowds from flocking to san francisco's china town this morning. but it has spread and ease over events marking the celebration. assistant police chief david lewis are reassuring san franciscans. they're assigning extra officers to keep watch over celebrations. >> we are going to make sure that we have a visible presence in the chinese community all throughout francisc

a lot of these things are staples aside from ice cream.ed bread, eggs, butter, makes a household a home. >> that's right. a lot of these things are the essentials. that's why i kept going back to eggs because it is something that we all buy, right? the cpi number we got today shows inflation elevated although cooling a bit. what it shows is that the federal reserve's campaign to raise interests rates to slow down the economy is working, and on those interest rate sensitive groups like housing, used cars, new car sales. they've all come in. when you look at actual staples things like eggs, bread, you showed the graphic, lettuce up 25% year-over-year on lettuce. 59.9% on eggs it shows you the consumer is not getting a lot of relief even as inflation comes in. the essentials are still elevated whether it's food, like eggs and lettuce, bread or shelter. rent and shelter up 8%. the one area that's come in in price is oil and energy. i have to question that as well because china is opening up again and once you actually see the markets and the e

consumer staples, names like kraft heinz, hershey, jm smucker are higher today and colgate reboundingtock to an overweight rating and named it one of their top household product picks. today's move after the company posted weaker than expected gross margins for its quarter on friday sending the stock to its worse since march of 2020. watch the consumer staples an outperformer in a down day i'll send things back over to you. >> dominic chu, thank you. >>> a growing number of professionals are making the case for buying international versus u.s. stocks in 2023 our seema moody has more on that hi, seema. >> it's an under owned and under loved asset class, that is what the deputy head of macro for morgan stanley's $14 billion emerging market fund told cnbc with the 10% gain we've already seen in the emerging markets complex this year. it follows comments from jeremy siegel. >> has the worm turned so that finally we might have out performance of global stocks relative to the u.s. that very well could be in the cards for 2023. >> now, if we look at valuations just across the world, europe r

right now that sector is 10% and you have health care and other staples.think it's the right strategy, the right time right now the distribution yield which is a mixture of the dividend and the covered call is a little over 11.5% which is paid monthly, so to me it's a no-brainer for this year this is the smallest of the three. this is something we started adding last month. let me explain what it does. as we talked about when you look at the analysts for this year 2023 i think the low endis 3,400. you could drive a truck through it, so the wide range of outcomes we want to be invested. so what pacer does is every month this strategy will come out, so next month it'll be pfeb for february it comes out the first trading day. it gives you a hard floor of a 15% down side. so the first trading day you are at the spy of 382. there's a 3820 on the s&p. it goes for one year, s&p options inside of that it's a very plain vanilla strategy, so at the end of the year which this will be up, let's say the s&p is up 30 or 3400, this strategy will be worth 3820 because i h

staples brought you, congratulations then. yes indeed it is a great happiness. so tormented with our ugly men. and this case is different about sex, in general i am silent myself. no, find an editor, please. you know him, you know him. you don't have to do that. well, why so? and what are you damn, grisha hello. now just a maniac walks in the city. you can't do that, you don't have to stand. couldn't do anything right away. just asked me why the man says that you are real in detail i can’t you were with a girlfriend, i can’t come up, that’s how to say it. and she found a worker for you there, she is engaged, in my opinion, in traveling, in short. very nice , just so sane. really, if she likes you, she will introduce me to the awesome quietly so my family life, maybe here, damn it. ok. hello. that's great. can let's go two emotions in this place that will soon marry an extremely cheap restaurant in turkey to rest. the second emotion is complete disappointment that well, the marriage turned out to be complete crap. can write, in my opinion, we approach more to the

particular, which i spotlighted are doing well what is not working are defensive groups consumer staples and utilities, that's what's under pressure today. just capital releasing its annual ranking of america's most just companies one sector in particular shows surprising gains in wages and job creation we'll explain next as we head to break, check out some of today's top searched tickers. ten year yield getting the most interest as usual. higher today 3.6% followed by tesla, underperforming down 2%. coinbase, we just talked about bed, bath & beyond with more layoffs. the stock up 25% and the overall s&p 500 up half a percent, now positive for the week it is only tuesday we'll be right back. what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of p

i refuse to be stapled to my desk in washington dc. i will continue to spend time thinking, praying and reflecting on how best to serve the people in my district. i did not come to congress to be a caretaker of the slow demise of america. i am here to fight to work -- and to work to make america stronger. i think our brightest days are yet to come. thank you, and i yell back. >> i rise today to condemn intonation by pro-abortion activists. there have been acts of violence gets present -- pregnancy centers, porsche -- worship centers and vandalism, harassment, firebombings and physical assault have been reported all across the country, skyrocketing in communities began small. in addition to these violent acts, they constitute intimidation towards pro-life organizations. that only has biden and his administration failed to condemn these attacks, but the department of justice has also refused to take any idea action to identify and prosecute those have -- who have committed these crimes. i am furious with the way that the administration h

when you have inflationary pressures, staples are not a good deal.telecom has been really bad. the sectors at play for people that want to be defensive continue to be healthcare and energy. i think that will be pretty much the way things are for the next probably six or eight months. people will hide out and still do very well, especially income oriented investors. there's a lot of yield to be had in those sectors. also probably going to be leadership groups for many years to come. jackie: let me ask about technology. it was a bad year for the nasdaq, down 33% at the close of the year. tech was hit hard. we saw layoffs in tech as well. your thoughts about people buying that dip? >> well, it depends on what part of technology. if you're talking about big cap tech, microsoft, apple, you're definitely in good spot there. those are goo good entry poin, good places for investors to grab some value. if you're talking about some of the more aggressive parts like your adobes or things like that, that's going to be tough. the cost of capital for these compani

. >> reporter: this is a look inside zelda's on the beach, a longtime staple in capitola. owner john ely says the storms at the beginning of the year were nothing like he has seen before. >> it hit we different. >> reporter: from the businesses to the homes to the wharf, the damage in capitola is extensive. on thursday, president biden met with elite and others for a firsthand look at the devastation. >> the country is here for you and with you. we are not leaving till things are built back and build back better than they were before. >> reporter: before his visit to capitola, fema announced the president approved an increase designed to help affected individuals and business owners recover. >> they are going to get help. local businesses with low interest loans. to apply for assistance from fema, you can go online to disaster assistance. >> hopefully support for the businesses to get back on their feet as quick as they can. >> while the president's visit won't have an immediate impact on the visitors here in capitola, some businesses tell me the attention and assistance g

some staples like eggs are skyrocketing. their cost has increased almost 60%. that is hurting the bottom line at bakeries like cc sweets in texas. >> i kept my prices as low as i can for as long as i can. if eggs continue to increase, we will have to raise the prices to make sure that we can make a living. >> reporter: there are signs of improvement. overall prices for everything fell.1 percent between november and december. the tiny decrease is a big development for the white house. it's the first such drop since may of 2020. >> today's inflation numbers are good news. good news about the economy. we have more work to do. but we are on the right track . >> reporter: the latest report is another sign the federal reserve strategy of ion ra inis inkinteg.g the central bank ans plmeans all rates, going out and borrowing a loan for a mortgage or car or financing a credit card balance, those interest rates will be high. >> the fed is expected to increase a benchmark rate during a meeting on february 1st. nicole d'antoni, cbs news, the white house. >>> we are learnin

we introduce bags of flour, salt, matches, sugar, staples. these are the most basic ones.es, because we carry flour in bags. why do we carry excretions here in bags? they bake their own bread, we don't have a bakery. i don't have anything. and what is considered such a delicacy? well, mostly on holidays on big holidays. so you bring here such that the villager does not see such fruit products. well, that's all we bring from the city. and what about the city, by the way, keep in touch, because that, well, the cell phone isn't working. in some program, all uh payphones were installed in remote villages, such payphones, seriously. yes, there is a special booth , the antenna is tuned to the satellite and calls. so you can call an ambulance on any cellular or city phone and you can call an ambulance there, and at least where you can call, and among the locals there are generally no doctors , but an ambulance turns out. if, uh, if there is no road, then helicopters still happen, so that it will not be soon and there will not be a helicopter. but then the ministry of emergency si

. >> and the message in the bottle on this is that other staple companies will be hit the same way.a little trade school on this the whole concept of price elasticity, this is one of the misnomers. i thought it was the opposite. if something is elastic, there is give to it. >> but at some point it snaps. >> and then it snaps so again the elasticity here has worsened and that is the case 17 point spread between 6% contraction in sales, 10% rise in their top line. they haven't had this kind of sales drop in years on top of a 10% sales rise this is a bad number and again staples have been defensive. i don't think you're chasing them here. >> here is what is coming up next. >>> blue chip, check can big blue add this color to your portfolio >>> plus, debt ceiling drama the threat of default looming. and that could have big implications for the fed's tightening plans the details ahead. >>> you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. >>> welcome back to "fast money. call of the day on ibm shares closing well off the highs of

the s&p 500, it's unchanged, it's a tale of various sectors industrials, utilities, real estate, staplesncials, and materials are all green right now. everybody else is red. the market being weighed down by health care and communication services, in particular today. and the nasdaq is really tale of mixed performance right nowwit tech that's why we're not seeing a big fall alphabet, amazon, those are the weights. apple and netflix, though, are hanging in there, going strong, little change for small caps as well >>> still ahead, mark mahaney weighs in on the doj's suit against google and the ramifications for investors. >>> plus, microsoft gears up for earnings after the bell, and the company's investment in chat gpt creator open a.i. will certainly be top of mind for investors we're going to talk aton analyst about what to expect all when "closing bell" comes right back 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