u.s. centric names. there are a lot of quality names out there but he has a real focus -- >> the focus on -- >> to invest. >> on the u.s., yes. but i'll push back a little on that and say that i lot of what apple's valuation and apple's price action continuing to appreciate is the growth. the growth that you've seen overseas, the growth that you're seeing in asia. so, listen, the u.s. is a desired right now land for assets, i think you can look for quality globally though. and the only thing i don't or somewhat disagree with is i never understood what define money as smart. i'm still trying to figure that one out. >> real quick, i wanted if i had a chance ask will, i'd love to say i agree with his take on u.s. and us centric businesses but something like a caterpillar where they have exposure in china, just wondering if he would invest in a name like that. >> coming up on the "halftime report" should you go long or short netflix ahead of earnings? ♪ [ male announcer ] for our families... our neighbors...

u.s. centric companies.n't have to worry about chinese competition, retailers, restaurants, home builders, u.s. centric companies that are going to benefit from continued improvement in the u.s. economy. >> all right. but our next guest says there is short-term risk for restaurant stocks, despite a strengthening economy and that a correction may be on deck for high flyers who both report earnings today. joining us on the fast line is bryan elliott. welcome to the show. >> good afternoon. >> u.s. centric stocks, why do you think we can see a pullback in some of the specific restaurant names we mentioned like buffalo wild wings and panera? >> those are two stocks we downgraded to underperform a few weeks ago after very, very strong first quarter runs in the entire restaurant sector. we remain pretty bullish on a number of names in the group. but we think some of the high fliers, as you put it, have reached valuation levels that are going to be difficult to sustain given a still somewhat sluggish consumer spend

u.s. centric and you just mentioned last thing the republican party isn't waking up to this but one part of the republican party is those ron paul supporters are actually a lot more modest and realizing that their best days and out of their crisis you know for us the best case may be very much chance to get other countries. stronger and stronger by the united states going to go back to you in orlando i mean if china grows in other emerging markets they're going to want to see a change of the way the world is run at least economically financially speaking because they want to a greater stake ok and we look at these institutions like the world bank the i.m.f. i mean this is all post world war two ok we're now in post cold war ok we're in the twenty first century now i mean when are those institutions going to balance out more to represent the majority of the people in the world not the americans not the europeans there are smart small minority in the world right now and their economies are shrinking relative to the bric countries for example yes i think you're right but the system that is the

u.s. centric names, those may be the names that continue the market going higher until something worse happens. >> with prok store and gamble, with all of the big brands that they have, you know, if feeds around the point rapidly and the fear, of course, is that you get deflation, which is not a good idea for profits if it starts em mate nating from europe. >> amazon is the big kahuna. >> and the discounter is doing well. >> we are, again, this week, the s&p is the best performing of the major indexes. >> and yet you get -- i get hate mail when i talk about biforcation because there's a certain group of people invested in the idea that there's too much debt in the world and the whole world is in trouble. you can't move forward. >> not to mention the fact that china is not behaving as bad or fear that it will. >> retailers on the role and cnbc bertha coombs rounds up the movers and and shakers and dividend paying telecom, utilities, today they are down here, consumer staples as well with the proctor gamble statement. consumer discretionary is the strongest today or we got the consumer sentiment

u.s. centric as far as an american perspective and as qaeda from the strategic, where peter's book is a 1000-foot level where we focus on a particular area i am at the 30,000 levels taking a look at everything that's happening and then kind of drilling down on why americans should care, meaning that cartels are operating more than 1000 u.s. cities either directly operating there. 90% of the illegal drugs consumed in the indymac are coming from mexico. even where i live, live just outside the st. louis area and you'd think okay st. louis has nothing to do with mexico but we are seeing a huge spike in overdoses of heroin. not in urban and bad neighborhoods. these are 19-year-old caucasian kids who are middle class, upper middle class who are smoking this black tar heroin in their own homes and it's coming from mexico. hub cities like denver and detroit and atlanta, the largest methamphetamine lab ever busted in united states was run by one of the larger drug cartels in mexico and they have a huge problem in gwinnett county. again, not just along the border. i take a look at the challenges pose

u.s. centric on the flip side of this or look you're even better. >> i think that these international companiescularly the ones that have a competitive advantage the brand is so powerful. great management and execution and that kind of thing. but, you know, i mean in term of the u.s. there's still plenty of good things happening here in the states. it's just that people concerned about kind of the global slowing, we're not getting it from coke and i don't think you'll see it in yum. yum is quite a bit up. it's another one you put on your shopping list. >> what about goldman >> goldman, it was okay. expectations were high. you know, think bottom line if you compare jpmorgan to goldman, jpmorgan results were better than goldman. >> did they treat their mother better >> they do treat their clients better, joe. their clients. >> play along with me. >> i loved jim henson. what can i tell you. >> the late great. >> thanks. >> coming up more of today's top stories and still ahead "squawk" will be playing "hardball" with our good friend msnbc's chris matthews. we'll talk politics, economy and his new b

u.s. centric. >> well, we'll have that answer a year from now. we don't have that answer now.old state statement that verizon made. and we'll see if it happens again. >> bud they were cut out of the iphone. >> but they did. they're making the claim that they helped create that android success in the united states. so we'll see if that happens again with the microsoft platform. that's their plan to do that for the december quarter. or if consumers are really driving the decision. >> this is a 25 multiple stock. you'd say look out below. but it's 12. >> i hear you, right? so on a racial basis, you know, it's a very reasonable evaluation. but on an absolute basis, you know, you have to just go back to the fact that only five other companies have ever cracked that $500 billion valuation mark and they're trading now at about half of that, $200 billion. >> all of this talk -- >> i'm just talking about $1 trillion. >> but that doesn't mean to say that apple could not go a lot higher than it is now. yes, you can call it into the grave two or three years down the line. but it's hypothe

u.s. centric as far as an american perspective and as qaeda from the strategic, where peter's book is a 1000foot level where we focus on a particular area i am at the 30,000 levels taking a look at everything that's happening and then kind of drilling down on why americans should care, meaning that cartels are operating more than 1000 u.s. cities either directly operating there. 90% of the illegal drugs consumed in the indymac are coming from mexico. even where i live, live just outside the st. louis area and you'd think okay st. louis has nothing to do with mexico but we are seeing a huge spike in overdoses of heroin. not in urban and bad neighborhoods. these are 19-year-old caucasian kids who are middle class, upper middle class who are smoking this black tar heroin in their own homes and it's coming from mexico. hub cities like denver and detroit and atlanta, the largest methamphetamine lab ever busted in united states was run by one of the larger drug cartels in mexico and they have a huge problem in gwinnett county. again, not just along the border. i take a look at the challenges posed

u.s. centric as far as an american perspective and as qaeda from the strategic, where peter's book is a 1000foot level where we focus on a particular area i am at the 30,000 levels taking a look at everything that's happening and then kind of drilling down on why americans should care, meaning that cartels are operating more than 1000 u.s. cities either directly operating there. 90% of the illegal drugs consumed in the indymac are coming from mexico. even where i live, live just outside the st. louis area and you'd think okay st. louis has nothing to do with mexico but we are seeing a huge spike in overdoses of heroin. not in urban and bad neighborhoods. these are 19-year-old caucasian kids who are middle class, upper middle class who are smoking this black tar heroin in their own homes and it's coming from mexico. hub cities like denver and detroit and atlanta, the largest methamphetamine lab ever busted in united states was run by one of the larger drug cartels in mexico and they have a huge problem in gwinnett county. again, not just along the border. i take a look at the challenges posed