committee debating how far this bull run could go joining me everybody at post nine, josh bown, stephanie link, joe terranova, jenny harrington. we are at a horde high for the dow. there's been a clear shift in sentiment, josh. no doubt about that. bank of america, most upbeat since january of '22 >> i can't believe it. >> with it this pivot money is flowing into stocks. >> so stocks go up a lot and then people want to buy them >> the tried and true tradition. >> there almost something there. the prhecy fulfilled, pretty much on the show everyone has been sing if we can get a tame pce report this fall preceding the last f rate hiking opportunity, they wouldn't take the opportunity, which was consensus if you look at the fed tracker tools,ut, more importantly, no further reason to be on the sidelines or to sell that chase into year end is exactly what you're seeing play out. it's tough being in this business not owning the s&p 50 that have done what they did this year and sitting here in november basically i have six weeks to dress this thing up. i'm far behind my benchmark. what do i do my cli

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stephanie link, i start with you. i want to start with something you sold. you sold 3m because you sold it to fund some of the buys i'll talk about in a second. tell me why you got out of 3m now versus something else? >> a little bit of tax loss selling, not down that much in it. the recovery is attractive, i just think it will take longer. within industrials, i think there are better opportunities that have more upside in the near term, and that being -- >> union pacific -- >> do you want me to say it? union pacific is one. this company has a new ceo who was a canadian national for four decades, and he did a great job. he was the coo of union pacific from 2019 to 2021, and he was able to find a billion dollars in efficiencies under his leadership. so now he's the ceo of the company, and telephones announced in july, and the stock popped on the news. and now the stock has been stagnant since then. in the meantime, since august, we've seen car velocities up 8%, train velocities up 10%. operating car inventories down 2%. and weekly carloads on average up 6%. m

appreciate it. >> thanks, scott. >> that's stephanie link. you said it's looking to look like a santa claus rally and that's maybe ignited by lower oil and lower gas and subsiding inflation and the bond market is subsiding and yields are coming down. it's almost been an everything rally. bonds, stocks, and -- except for oil. >> yeah, it's a broadening of the rally. i think that's healthy. you look at the equal weight of the s&p 500, which is an indication of that, and it's almost flat today as the s&p issoff 0.6 of a%. he talks about the esoteric. what we have been saying all along is you can get the wage growth, and have inflation come down if productivity picks up. productivity is one of the things that is hard to talk about. i think i can speak to ed because i think on wednesday he will be paying close attention. all of these things will solidify or debunk you will want to have a soft landing. the data will pick up in a way it has not for the last two weeks. it has been dull the last two weeks. >> weiss, how do you play the quote, unquote,

stephanie link, i start with you.

joining us stephanie link, jim lebenthal, and brian belski here at post 9. let's get a check on the markets at noon eastern. the dow right now up for the s&p, the nasdaq the best performer up almost a half a percent. stephanie, you're here to my left. are you a believer? do you think it's getting stretched? >> i am a believer. we'll talk about a new buy i did last week. i think this week we can say this is the soft landing week officially. if you look at the cpi, 9.1% last year and you're looking at a six-month annualized number, 2.8%, retail sales with a control group, 4.4%, that's huge and a big surprise. industrial production was better than expected today. initial claims at 205,000 four-week moving average. nowhere near a recession. so you add up all of that, lower inflation. that sets up earnings if you think the fed is done and they will start to cut. i don't know when they are going to cut, but they are going to cut. we've seen peak. powell told you that, we've seen the peak. to answer your question, all of this sets up well and at the same time the 4

stephanie link with us ahead of nike earnings.f the number. jimmy, you recently sold it. it will be interesting to see this one. >> we have to look for are inventories coming under control, which means pricing is getting better, and are there any hints from china? that's what you are looking for. >> so we'll walk you up to the release of nike and o.t. in a couple hours. josh, final trade from you, please. >> staying long zoom. >> all right. thank you, sir. farmer jim? >> oracle. this is now a classic value tech. it's attractively priced. it got hit after the last earnings report. when that happens, the stock needs to consolidate. i think that consolidation is done and it's ready for another leg higher. >> i gave micron -- another memory play here, very cyclical, western digital. they're restructuring debt in a lower rate environment. these names should perform. >> what do you think? >> booz allen. it's an industrial that's underperformed this year. a consultant, they focus on defense department, cybersecurity. we think this is a g

stephanie link will talk about the nike. will talk about banks. >> what a difference a day makes. guess the conclusion being, over the course of the day, nothing really broke yesterday with a decline. all that we are rising right now to the scene of the crime which is 4750. we will see if there is anything lasting. i think the conclusion, you get to the 52 week high and you lose more than 1% of people have gone back through history and said it's not how major markets tend to behave. that type of interplay. all that is to the good. it leads to the question of, you have the soft landing being in the consensus. you have the help from lower treasury yields. it makes perfect since to back off more but it is not happening and some messy and disorderly way. just running amok. >> by the dip, we are learning today very clearly that it is still in play and the russell got creamed late yesterday back up 1.5%. nasdaq was down sharply. apple has been down for much of the session. we had the news about the watches. apple is green. mega caps are strong again. it gives you the idea of the psyche

cecilia, nada, stephanie, steve and, look at -- look at stephanie link's -- perfect. >> hers is -- >>, joe. >> got me -- okay. thank you. >> so easy to mess with. >>> coming up, we're going to -- >> don't >> speak with former boston fed pled eric rosengren what the new jobs number could an fmeor the fed. "squawk box" will be right back. for people who love their vehicles, there is only one name on their holiday list... weathertech... laser measured floorliners that fit perfectly in the front and rear... seat protector to guard against spills and messes... cargoliner, bumpstep, and no drill mudflaps to protect the exterior... and cupfone keeps phones secure and handy... [honk honk] surprise!! shop for everyone on your list with american made products at weathertech.com... icy hot. ice works fast. ♪♪ heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. here we go. so you can we land?m pain. you're old enough to do it in the sky now. but it's gross. there is no way we're landing. are you sure no one is watching? gwen mallard! do it now, or we lea

joining us is stephanie link from hightower. we can't get away from it, stephanie. the big tech names like apple and microsoft. it is the big story in "the journey." it jumped 75% in 2023. it said leaving the other 493 companies in the s&p 500 in their dust. left these other companies in their dust. stephanie, it says that. it must be true. i see what they mean, anyway. >> well, we actually have seen in the past month a healthy rotation, joe. i'm encouraged by that. the equal weighted s&p 500 has actually out performed the market cap s&p by 200 basis points. that is not crazy. i do think it is encouraging. the equal weight is still 13% behind the market cap weight year to date. i think there is more to go. that is encouraging. a lot of that is happening because the soft landing thesis is playing out. we see lower inflation and decent growth. last week, i thought it was encouraging in terms of the data. that's why we rallied. you go from cpi at 9.1% to 2.6% and go to retail sales in the control group running 4.4% in the last four months and the moving average at 2,00

stephanie. >> thank you. the supreme court seems divided as it reviews a landmark bankruptcy settlement for purdue pharma. that's the company behind the powerful painkiller oxycontin. the drug is linkedns of thousands of overdose deaths. the justices heard arguments over whether the owners of purdue pharma, the sackler family, can be protected from future lawsuits. under the terms of the settlement, under the bankruptcy deal, the sackler family would pay about $6 billion to settle lawsuits with opioid victims and state governments. but the biden administration says by guaranteeing immunity, the deal violates federal law. justice elena kagan questioned if the government should end an agreement that was approved by opioid victims. it's overwhelming the support for this deal. >> and among people who have no love for the sacklers, among people who think that the sacklers are pretty much the worst people on earth. they've negotiated a deal which they think is the best that they can get. so i'm wondering why one nutcase holdout should hold up something like this. >> members of the sackler family have denied wrongdoing, saying the company developed oxycontin to help families. the court's ru

stephanie decker, audra 00 who saint, albuquerque is a political analyst aligned with the freaking movement. he says the group will continue targeting vessels in the red sea that have links with israel, of some of the ship. actually they thought i as it was the switch at the g, b s, and they don't actually a reply. do you have many requests for them to post both? that's why yeah, any ship that's happening. it would be a target. it would have been. but as an example of the galaxy leader that was taken by a many is that any has announced on that. then you know, they said the top, nothing to do with is it i'm, this was actually on the light. if those ship actually have nothing to do with is it i, what is it i know is good. i it out loud. why they are asking light states and getting money to act. this means that the effected and boosted actually they are have some kind of a ties or some stubs that will be it and is it i and it just wouldn't. i said well how much. busy who the human but for this will be in court in the end. so not he has since i was with the same world. and then he said the attack would continue on the night states. they would have been a mean been opposed re