a note from stifel yesterday.y are looking to correct by october down 12% from the july peak from the slowing u.s. economy with sticky inflation. they also say there is risk of a bear market if the slowdown becomes a recession. we are seeing more bearish calls. with that in mind, what do do you? when you talk to your clients, they just want to be safe. what do you do? >> absolutely. a lot of our clients want to be safe. we begun to use more and more products where you are down size protected, but still participate in the upside of the market. my base case is not seeing a recession any time soon. are things slowing down? yes. that's what we are all cheering for. we want things to slow down so the fed would get to a point where they are comfortable cutting rates. i think that is still likely. we will see the 25-basis point cut in the markets. we are not seeing broad job destruction in the economy. things are softening, but we just haven't seen that broad job destruction. still looking for a soft landing. >> with the

stifel has the last of the correlations too. we can get -- what happened?> nothing. >> stifel has the correlations. >> and i was looking on the february report. nvidia was up 16.4%. that was, of course, the blockbuster when everything -- many things changed, and the broader market was up a lot. the ndx was up 3%. i thought we had that, but i guess -- >> look, this is the underperformer that's not underperforming, so to speak. i think that it has moved up. it's number one stock in the s&p. it rivals super micro, but that was the case. we get into that. david, i think that this became the szeitgeist. that bothers people because it was a $500 billion company in 2023. then it goes to $3 trillion. no one likes that. i call it a parvenue. >> given the need for a triple lindy, are you confident it can pull it off, that it can get the scores needed to be on the podium? >> i think what you have here is the extension of when apple's late with a handset. >> there's what i was discussing, by the way. >> i think that blackwell is going -- >> wait. bring it back. i want

shares are down in the premarket following a new note from stifel saying the sportswear giant is losingl data, nike, including the jordan brand, the most popular pick at about 61% of major retailers. however, that's a steep drop from a year ago. the channel checks say new balance is gaining momentum overall and adidas is becoming more popular with women. on and hoka gaining with younger buyers. nike is facing increased competition in china. shares are down more than 20% year to date. >>> we have some c-suite news. solaredge shares moving higher as the ceo announces he's stepping down. shares are up more than 6%. he will remain on the board and be part of the search for a new ceo. shares are negative year to date, down more than 60%, but as you can see right here on the chart, they rallied in recent days with fed rate cuts being one factor for the upside move. >>> also, looking at pinduoduo. they're plummeting in the premarket, down almost 19%, following earnings, again, the chinese online retailer missed revenue estimates but did beat when it comes to operating income. this is the paren

joining us stifel equity strategist barry bannister. great to see you again.g. >> good to see you, carl. >> your caution lately, especially when we were hovering near all-time highs has been well-founded although what makes you convinced there is more to go on the downside? >> well, yeah, we said there would be a correction of about 10% down to the 200-day moving average. the nasdaq 100 with its higher beta would fall by a larger percentage. it's funny, the -- there's the goldilocks and the three bears, and i think the market not only believes in goldilocks, but it thinks the three bears are exstingts species. we've seen second half gdp substantially weaker, not j scaling back on the consumption side but net exports are going to be a disappointment. we think the inflation is a little stickier than people expect. on a year to year basis the fed is cog in i zants of that. their mean target for core pce for the full year is 2.8, but we think it's actually closer to 3 by the fourth, by the fourth quarter on a year over year basis, particularly super core and stick

. >> got upgrades for starbucks out of stifel and deutsche. lot of snark about mckenzie ceos yesterday, speaking of laxman narasimhan. >> there is a backlash, absolutely. everybody knows someone -- you bring in mckinsey, deloitte, these are places where they have a lot of smart minds, but yes, there was a -- in the heard on the street for the interview that i did with laxman, we did, it mentioned that he came back with mckenzie speak, which, david, i guess is like, i don't know, what is mckenzie speak? >> i don't speak mckenzie speak. >> you're illiterate in mckenzie speak. >> you can lernarn it on duolin. >> i'm sure they have an entire lexicon. >> it's best practices. >> well, it's like -- it's -- >> what are your best practices? are you a culture -- what are you, a culture cleanser? no. >> i work seven days a week. i don't know what the hell that guy who dropped out of google is thinking. >> jim, you mentioned brinker. where chili's comps are up almost 15, but this guidance on the full-year had them open -- this would be the worst day since

we're talking nike here because stifel is slashing estimates for nike's north american business.otwear giant's dominance is fading somewhat as rivals like new balance and adidas gain ground. moving between gains and losses overall. the last few days it's been volatile. planet fitness hitting a 52-week high. the stock has been added as a bullish pick and say there's a 92 price target. the company says planet fitness's new leadership was addressed, and has better marketing. so planet fitness shares on the move. d.r. horton climbing to new all-time highs. wells fargo reiterated the home builder saying it has an attractive risk/reward and the prices offer them defense against rising inventories. bj's wholesale getting an upgrade to neutral following earnings last week. jpmorgan says it expects modest reflation and says they're benefiting from efforts to drive market share and from consumers trading down in certain products. those shares up half a percent. wayfair slipping after a downgrade from argus, saying the company's prospects in the current environment of higher rates and home