tv Making Money With Charles Payne FOX Business April 12, 2021 2:00pm-3:00pm EDT
♪ david: we're looking for post-pandemic indicators. the stock uber is up on a relatively down day, the best month ever post-pandemic for ride bookings. they are getting out, booking uber. uber eats was good. neil will be back tomorrow. we're joined by charles payne. charles: all they need are drivers. thanks a lot, dave. david: sure. charles: i'm charles payne this is "making money." the market in caution mode. following another record-setting run last week saw the lowest so oomph of the year. a lot of things bugging investors, powell, inflation, we'll look at every single one of them. earnings roll out today and our experts are here to make you
money. president meeting with both parties this hour. will he try for bipartisanship this time around? reaction from patrice leone walk the white house push for the green nirvana. all that and more on "making money." ♪. charles: markets opened sideways and the meandering trend continues that goes back to last week. the volume dried up to the lowest level of the year. interestingly enough, the so-called fear index, the vix drifted to the lowest levels in more than a year. the market is extremely fearful sort of right in the middle. the question is, what is the message of caution? what is the market feeling? i'm saying last week was a jerome powell sally field moment, you like me, you really like me. no matter what he will keep this party going. think about it.
we saw the late rally friday after he spoke with the imf. then what happened on friday. that was thursday. on friday what was really huge, inflationary ppi report, we surged into the close. now, i think tomorrow is powell's last hurdle. that is the cpi report. of course we're getting higher earnings out this week. they start off with the big banks. the big question, can they live up to the hype? there is a lot to go through. bring in the panel. money map chief strategist, shah gilani. gibbs wealth management erin gibbs. court any dominguez, seen core it wealth advisor with payne capital group, a company i'm not affiliated with. powell keeps bringing up the coronavirus and his version of full employment as rationale for staying the course, not hiking rates, keeping the accommodation, shah, keeping the
punch bowl out there until 2024. can he pull it off? >> yes he can pull it off. he has pulled it off. he will continue to pull it off. he has janet yellen's back and she has his back. with the fed and treasury working together, doesn't matter how much money is printed, charles, they will continue to buy government bonds, continue to facilitate the deficit spending we'll see. that will be good for the market in the long run. is it getting a little toppy? i think so. that doesn't mean the fed will back off one iota and that is positive for the markets. charles: erin, he is working hard, almost every single day with some sort of media outlet. almost every single day he has to restate his case. do you think he can pull it off too? >> yeah. that is really unique. we're seeing him on tv and the media more than we've seen any other of his predecessors. i think his messaging of full unemployment and really explaining that across all groups, whether it is gender,
race, educational background he wants all groups to do well, be at full employment, not just look at the top line employment numbers. so his commitment so the social employment i think is really what makes him different and what is going to keep the cash to keep flowing. charles: it's a grand experiment, we're living in real life. just moments ago we had breaking news from the new york fed. this on consumer outlook, their expectations where things will be one year from now. they cover a lot of things but three really stood out to me. where they see the stock market, finding a job a year from now and inflation. maybe if you look at those numbers, folks, courtney, maybe this is why the market is so sluggish. they are not enthusiastic as they were a year ago. see inflation higher than a year ago. finding a job is collapsed so it's a odd mix, isn't it? >> it is. i would agree with you, inflation is weighing upon
everyone's minds here and i do think that will happen regardless of the fed increasing interest rates or not. inflation is starting to rear its head. see that in the ppi numbers that you mentioned. that will need to be passed on to consumers. i'm easily getting most questions on right now overweighting the market, how and when will inflation kick in and when will that start to affect portfolios. i urge everyone to have inflation hedges in your portfolio right now. charles: before i move to the next topic what is and inflation hedge? >> a few good examples, one is commodities. gold and silver, physical aspects. real estate is a good inflation hedge and energy is another good one. charles: speaking of fading, right, this superhot ipo market, the spac market we started this year with, record breaking numbers has been dying on the vine. many think there is too much supply, too many deals. so i'm wondering, shah, this coinbase, this direct listing
could that reignite all of that, the ipos, the spac, bring it back to life? >> i don't think so, charles. coinbase is about crypto currencieses, trading in cryptocurrencies. i don't think that will affect the spac market. the spac market is overdone in terms of number of new issues. extraordinary, never seen anything like it and a lot of those deals will flounder and a lot of these companies will be looking at a lot of same companies looking at a lot of the same companiesp haven't look leery how much they spend for the top targets. the sec is looking at a lot of the underside what is going on. so i think they will be a little bit on the downside for some time to come. charles: courtney, on one hand we have record amount of money printing by the fed. fiscal stimulus going out, endless supply, endless spacs, has the oversupply hurt the money coming in. >> quite possibly. as you're continuing to see
people receiving things like their payments that are coming in, you are going to maybe start to see this go back into the markets. i think looking at markets long term, profits will become so much more important, especially inflation kicking in and dividends become more important. a problem with the lot of ipos and spacs they have little to no profit. when you're looking down the line that is not a great place to add your money. charles: who is sitting on a lot of money? corporations. $2.3 trillion. stocks at and all-time high. erin, brings me to merger monday. big news, microsoft announcing an acquisition of nuance, 16 billion-dollar deal. i think we'll see a wave of deals. i want to pick your brain where we can see some of those? >> companies like microsoft, the companies least hit by the pandemic have tons of cash on their books. so software, i.t. services, those type of companies are ripe for being able to do acquisitions, right?
they really didn't get hit. they had phenomenal years last year. also obviously anything online, amazon, those type of companies. so i think those are going to be ones that we see the most because they aren't really having to get back to business because they were in full business all last year. from there you might see also some mergers with companies that really got hit extremely hard by the pandemic. so airlines, hotels, maybe merge together. some consolidations. and my, i think my third guess would be companies that really need to change their image, get, more in line with this new administration's environmental, social, so they acquire companies that helps their brand images. those are sort of my three-tiers but it definitely will start with the software around i.t. services companies. charles: i think it is going to be explosive. shah, let me get your thoughts. we got earnings this season, this week, rather. they begin with banks. you were in the financial names long before anyone else last
year. are you feel confident going into earnings season? >> highly, confident, charles. we'll see some merger activity. the banks are ripe. the regionals are ripe for some conglomeration there. i think we'll see some. i think community banks will roll up with each other. everyone is looking for scale. i think they are going to find it. i don't think the regular will have. of a problem. i think banks are in really good shape. in terms of facing fintech and some other things are facing probably what they need to do. i think we'll see a good bit of it probably next year. charles: i love that brought that up. i had a speaking engagement couple weeks ago. i was with a big banker from truist, a merger of from two banks. these regionals must merge with each other to compete with big banks and fintech. i think you're spot on. erin, courtney, shah, as usual thanks for kicking off the week for us. president biden meeting with a small bipartisan group of
lawmakers this ostensibly to push the infrastructure plan but senate republicans call this a job crushing slush fund. so is this meeting going anywhere? speaking of meetings, a first of a kind meeting draws more than 100 corporate leaders to discuss state voting laws. i think it's a classic example of deflecting. only thing worse than ceo's getting monster pay raises during a pandemic, point the finger at racist voting laws. how rampant is ceo hypocrisy? we'll tell you when we come back
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♪. charles: president biden just meeting with republicans and democrats in the house and senate on the infrastructure plan. critics blasting 5% of the funds, that is what you get, folks, going to repair roads and bridges and with more democrats on a spending spree, go to blake burman live at the white house how this meeting is shaking out. make? reporter: charles, when you add up bridges, highways, roads for what the president is proposing you're right, $115 billion, or critics would say 5% of the $2.25 trillion american jobs plan hoover however there is more beyond that.
$80 billion for public transport. $80 billion for amtrak. 17 billion for waterways and ports to name a handful. the white house is calling this a jobs package and not necessarily a infrastructure package. it also includes items like $100 billion to make broadband internet more accessible. $175 billion to support electric vehicles and $400 billion for care givers for the elderly and those with disabilities. four democrats, four republicans from both the house and the senate. leading into this the white house continues to contend the president is willing to negotiate on both the package's scope and price? >> he absolutely is. he looks forward to hearing their ideas. his objective to find a way forward to modernize our nation's infrastructure so we compete with china. he proposed a way to pay for it, what he think the responsible thing to do. they will come to the table with
ideas. reporter: the american jobs plan also calls for a 50 billion-dollar investment in manufacturing, research, development for semiconductors or chips as we know, charles. there is a chip shortage across this county. earlier today the president met virtually with 20 different leaders, ceos from companies in and around that space. you see four of them, heads of general motors, ford, google and dell. charles? charles: all righty. we'll compete with china, we better not hike our taxes too high. blake thank you for going there with the thorough assessment of the report, the plan. i want to bring in patrice lee onwuka, independent opportunity at at the independent women's forum. i didn't think there would be a debate what infrastructure was, the word itself, the term itself. according to the american society of civil engineers, there are eight categories in infrastructure. i can tell you child, elderly care are not on the list.
what do you make of this. i feel like the white house has to negotiate, they have to negotiate with senator manchin, not those republicans? >> that is exactly right, charles. so the term infrastructure is being broadly used as a euphemism. really meant to be cover for catch-all democratic priorities, far left priorities, on their merits can be discussed and debated but shouldn't be included in a package that should be about potholes, about roads, about crumbling infrastructure. maybe you can stretch the argument and talk about broadband expansion but when you're getting into expanding medicaid, for example, so that, to support homeworkers, stay-at-home moms or parents taking care of aging family members, that is a bit too far. it is going to be very difficult, number one, whether this would even pass any sort of reconciliation muster but number two, to get any sort of broad-based support for that. charles: patrice, before i let you go, i need to know about the
administration's new argument, hey, the polls that republicans are polling well with this so therefore this is a bipartisan effort? >> well, when you talk about broad infrastructure, people absolutely support it but the question is can you dig down and list some of these line items in president biden's proposal and get the same kind of support and i don't think americans when they consider 400 million or billion dollars for this elder care plan, compared to just $167 billion for actual road and traditional infrastructure. so i think it is when you dig down deeper, ask people about the individual items, green new deal, electrical cars, charging stations, all of the subsidies that will be borne on the backs of taxpayers i would be interested in then seeing what the support level looks like. charles: yeah, yeah. you ask anyone should we have clean water or good sewage pipes? the answer will be yes most of
the time. what is interesting about this, goldman sachs main analyst warns this tax plan associated with it will crush earnings for the s&p. the annual earnings will go from 12% growth that they have modeled already, $203 collectively to just 5%. that is huge. that is a huge impact on the market, which is a huge impact on pension funds, and huge impact on some of the elderly they claim to want to help with this plan? >> we're waiting good earnings news this week. we're expecting a robust economy to be demonstrated right now. when you talk about an expensive plan that will be, you know, very costly, borne on the backs obviously of corporations who usually take their money, their profits, then reinvest them into the companies which could mean hiring more people, i could absolutely for see how he is willing to cut earnings estimates going forward but i don't think the biden administration is paying much attention to what the actual business community really thinks
about and cares about when it comes to stuff like economic growth. charles: now, i do have to go. i will sneak one more in. what do you think the next bill will be? they say about family and humanitarian infrastructure, human resources? what could it be since they already crammed everything into these last two bills? >> expect paid leave. expect, welfare expansions, maybe pretty much expanding the social safety net. i think those will be some of the big things that will come down the pike. when it comes to paid family leave, iwf we've been pioneering different ideas that will not be costly to taxpayers, really are targeted rather than what i'm expecting would be in this next plan. charles: right. let's hope they at least reach out because no one does it better than iwf on some of these topic. >> thanks, charles. charles: patrice, thanks very much. more than 100 ceo's taking virtue signaling to a whole new
level taking a stand against voting laws they say hurt poor americans. we'll tell you why the hypocrisy really reeks. companies walk the tightrope, history shows it doesn't hurt the share prices. at what point can you you can diss so. of your customers that it finally, finally hits the bottom line? uh, mr. vitale? it wouldn't be a miracle because geico gives you a team of experts to help manage your claim. it's going to be a nail-biter. no, the geico team is there for you 24/7. geico is awesome, baby! (shouting) too much? i think we got it. yeah. thanks. thank you. geico. great service without all the drama.
charles: more than 100 ceos meeting over the weekend to discuss their responses to state voting laws they say hurt poor americans. don't let that persuade you they care about the less fortunate especially during the pandemic. do you know the average top ceo pay rose over a million bucks last year? we have genevieve wood. how surprised are you, right? it is kind of nuts how quickly their pay is going up. they talk about inclusion, even
companies like walmart which of course make a fortune from conservative consumers and voters. what's pushing this? i think it is a dangerous tightrope that they're walking? >> it is freaks lemmly dangerous, charles. there are terms thrown around like racists. let me throw some terms. many are acting like liars and hypocrites. they're lawing about the voter integrity law particularly in georgia. they're not telling the truth what the legislation would do, which would expand early voting for example. it would add over 100 dropboxes around the state for people to cast their ballots. it is complete lying going on about the laws themselves. secondly they're complete hypocrites. these same companies, delta, coke, major airlines, disney, they're all doing booming business over in china where there are no voting rights. where there are human atrocities every single day but we don't hear a word from them about those things. so i just, this whole thing is,
it is outrageous but i think they need to be called out for what they are. charles: you know, also i think a lot of it is deflection. got a report that the average ceo of these companies made $14 million. year before, 2019, 4.8 approximately million. at a time people are unemployed and millions of people are without hope. under normal circumstances that would be the biggest story in america right now. i think they're finding ways to deflect. they're learning these political tricks. >> look, they're trying to inoculate themselves from the leftist groups like black lives matter coming in trying to shame them doing what they want them to do politically but what they have actually done, charles, and you know this, they have taken, for example, the major league baseball, the all-star game, they took $100 million basically from the city of atlanta which has far higher african-american population and moved it to
colorado which i think less than 10% of the folks there are african-americans. now all the money is going there. this is, the idea that they're actually willing to help minorities and those trying to get up the ladder, it just isn't true. charles: right. >> their actions show it. charles: right. no, i agree. atlanta, one of the most amazing cities. that is why so many people have flocked there from around the country. i have so many friends and relatives who left all parts of the country for black excellence opportunity and they snatched 100 million from them. i don't know if you watched the masters, amazing tournament, historical, one for the ages. they put out a very thoughtful statement midweek, they are concerned about all these things, they will not have a knee-jerk reaction. they kept it going. they had guardrails on this thing. instead of going straight for what you said, sort of activism path, is there a way, elegant
way for these companies to really address some of these issues without taking the bait the way they have? >> well i think they can realize they can speak into the corporate culture and to the public swear put they don't get to be lawmakers and hold the public and people that work for them -- what if you work for american express or delta air lines or any of these companies, and now your ceo is coming out to take these political stands, this is for our company. we'll give money. this is how our company will act. they're representing you. what if you don't feel that way politically? how do you feel as an employee in the company? companies should act responsely. they need to be consistent and be honest what we're debating here. that is what you saw in georgia. there was no honesty whatsoever in the public debate of the law. the way the masters handled it was right. charles: those trying to assuage their guilt, trying to write a check to deflect either way it is wrong. you're amazing when it comes to
these conversations it is amazing. years ago, these companies will would never about get involved in local politics. they get so much money from around the world seems like they have written offer 70 million american consumers. we have jim iuorio. some of these corporations know for all the outrage, a large chunk of folks upset will still use their products. if they don't, they will fine new customers around the world but at some point, at some point could there be economic pain that could sort of nudge these companies back to the center? >> i'm surprised that it hasn't already. what we saw in goya foods many months ago, when their sales went through the roof after whatever, political thing they were involved in, i think the things that these companies are doing to me seems like, major league baseball, if you look at
the statistics for viewership of professional sports outside of football it is declining rather precipitously. for them to try to turn off more people, for me and sports i don't care if what they're telling me is something i agree with or something i don't agree with. i turn on sports for escapism. a lot of people are just like me, they don't want a political message in sports. some companies fall in the same thing. i want coke to sell me coke. if i did, i don't want their political leanings. i think there are a lot of people in our camp will be turned off by it. i want to see what numbers come up. charles: really amazing to have someone like walmart to go to one of these meetings to participate, when they were the target of this kind of stuff for so long. it was conservative consumers that kept them in business. shift to the markets for a moment. i saw something interesting where you talked about your favorite measure of market valuation. the big question is, growth, value, growth, value, where are the opportunities particularly
at a market this level? share with us your favorite measure of valuation. >> it is earning yields versus investable treasury yield. so seven to 10 years. i didn't make it up. it's a greenspan measure as well. charles: okay. >> earnings yield is discuss the opposite price versus earnings. it is earnings to price. what it is to me, like i'm a futures trader from way back. if corn starts to shoot through the roof, wheat tend toes follow it, barnes tend beans tend to fw it on substitution basis. when you can't get good yield in u.s. treasurys the stocks become more interesting. the 10-year-year-old is a little bit stretched compared to the last 25 years. i think there is anticipation of a booming economic revival al coming up in the next three months. economic revival that i believe in fully, still still relatively bullish. people like, oh, they're too stretched everything has gone crazy. nasdaq had a 12% correction two
months ago. they haven't made new highs yet. i'm perfectly comfortable with them going higher from here. charles: jim, real quick, on that thought, this upcoming earnings season, i'm assuming you would think it will be gangbusters. what's the impact on the market going to be? is this thing tells us jim is right, they will give us some guidance as well? >> yes. i think earnings season is just two things, it's bank and tech. banks this week, tech next week. banks have rallied quite a bit. the yield curve steepening the anticipation banks will make a lot more money. we'll look at those. david: more closer because the prices have rallied. the one thing encouraging the xlf stayed very close to its highs despite the fact that the yield curve stopped steepening. the bank trade is real. a lot of that is hinged on an economic expansion i think is to come. tech earnings are much, much bigger deal obviously next week. we hid in tech stocks for the
entirety of the first part from a year ago. so and now with yields higher, remember, those tech earnings, based on those discounted cash flow models we base in a lot of very rosy assumptions about earnings growth. with higher yields we might need to see a little more to push that higher. i think we'll get it though. charles: i tend to agree with you. by the way share with you and the audience, maybe right before the show we had the st. louis fed president saying that the central bank would actually consider tapering or bond yields or bond buying if, when the country gets to 75% vaccination. something to keep in mind. jim, we appreciate it. always learn something from you, my friend. >> thanks, charles. charles: with all the hypocrisy going on time to highlight the positive moments in our country. take a look at this, a students and staff at oklahoma schools highlighting the hall to celebrate the cafeteria manager, she passed her citizenship test.
lopez telling a local affiliate, when living in cuba, her dream was to come to this country. lopez was not only one to pass the test. her three children, 3 to 28 passed the test as well. congratulations to the lopez family. truisms, unlearning investment believes can benefit your portfolio. you want to see this with david bahnsen. at 2:45 i have a message on a the damage president biden is causing to americans in pursuit of this green utopia. confidenc. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it. voya. be confident to and through retirement. obsession has many names. this is ours. the lexus is. all in on the sports sedan. lease the 2021 is 300 for $369 a month for 36 months.
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♪. charles: all right. so crude oil edging a little bit higher today but obviously it settled down a lot from that blistering pace that resulted in many of these oil stocks going through the roof. now they're pulling back as well. in fact, you know, energy was the only losing sector in the s&p last week. today's move this morning
attributed to tensions in the middle east. that is decidedly different than a global reopening which sparked that real big move. for more on where crude is going from here i want to bring in the bahnsen group managing director david bahnsen. david, last time we spoke you mentioned crude at 100 bucks, not necessarily a good thing. i didn't disagree with you there but are you concerned it stalled around $60 and some of these crude stocks are coming down real quick? >> no. this is exactly what you want. you don't want it to go above 70, for midstream, where we're mower focused on the pipeline companies, 50 to 70 is the sweet spot. remember you want a lot of volume, a lot of global activity. if it gets too expensive it helps demand. it helps margins for the producers. that is not what our play is about with energy. we're more midstreamed focus. charles: of course anytime you
talk about crude you say sweet spot, i wish we had the drum there. you talk about the dividend cafe piece on friday t was phenomenal. i'm learning investment beliefs. i want to go over a few particularly for the audience. some of these truisms maybe. gold as a hedge against government irresponsibility, no longer working? >> no. i think that if you look back over the ten years i don't know what people could have possibly wanted to define irresponsibility and recklessness more than getting the national debt above 25 trillion, running one to two dollar annual deficits, everything, the fed has done with qe1 through 4. zero interest rates all of that stuff. plus it has been very aggressive in japan, in europe. this is like a dream environment for people that believe gold is the antidote to irresponsibility and gold is completely flat for
10 years. i think that it has been a myth. i think really this goes back many decades. charles: inflation and government spending, that relationship? >> no. obviously not. you look at bond yields, and you mentioned my dividend cafe.com piece, i put a chart up united states spending, europe spending, japan, united kingdom, massive increase in spending over 40 years. massive decrease in the long bond yields in all four geographical areas. the entire developed world. there has been an inverse relationship between government spending and inflation because of debt deflation, which is something we're really big on at the bahnsen group. charles: got a minute to go. i want to ask you about, i know you talked about growth versus value, alternating when they could exist.
buybacks versus higher dividends. what is the best way for companies to pay back shareholders? >> charles, you're the best because you ask a dividend growth guy what the best way to do it, certainly dividend payments, my friend. look, buybacks often get announced, they get authorized and don't even happen. often times you hear a company has bought five billion dollars of their stock back, you don't know they issued 5 billion of new stock with stock options and employee and executive compensation. the first thing to get cut when companies are protecting cash flow is stock buybacks. dividends are far more reliable, consistent and reflect better alignment between management and shareholders. charles: i can tell you right now, a lot of people are now, who hadn't been looking at dividends are sort of sniffing them out right now, maybe there should be a place in their portfolio for them. david bahnsen, we always learn so much. thanks my friend.
>> thanks, charles. >> president biden promised to find jobs for the laid-off keystone pipeline workers? he promised it but they're still waiting. >> i lost probably 60 to 80 grand not being able to go on that job. that is my livelihood. if i'm not off working i'm barely scraping by. charles: coming up i have a message for biden on behalf of the millions of americans who already lost their jobs and soon will. as the biden administration continues to pursue this green utopia. we'll be right back.
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♪. >> i mean it's hard to make plans when you've got an administration trying to crush your future. >> so the pipeline was killed in january. it is now april. give us an update. have you been able to find a job? >> not with the pipeline or any other thing right now especially with the green energy projects he talked about. >> i looked for the green jobs. they're not there. that is the reason i started a company because there are no green jobs there. i mean i looked him dead in the eyes and tell him. >> i lost probably 60 to 80 grand not being able to go on that jobe. that is my livelihood. if i'm not off working, i'm barely scraping by. i have two kids i'm having to support. what am i supposed to do there?
>> without working we lose insurance, income, and employees >> your whole family? >> my whole family. >> what is everybody going to do? >> i don't know. we'll lose everything we have, that we worked our entire lives for. >> tell me a little bit about bald knob, arkansas. call it the pipeliner capital of the world. we're looking at lot of out of work pipeliners right now. >> a lot. >> what is the mood in this town right now. >> terrible. terrible. you don't see any welding rigses. they're everywhere now. >> all of these people should be in another state working on a pipeline? >> yes. >> they're here -- >> drawing unemployment if they're lucky enough. >> president biden unveiled t t $2rill tiofrasioture >> i >ropo a pla aor forhe t i i nion glth. rewewewewework, i s i srtupnions. un buiunhehedl me m mss c. out t te te seo t get
pi ofe of tn.ion. >>o>> yeeleel inclulu inlutha ? no, no,f cersot. sed td t t be blue-coar j. i green grelar j. >> the>> t mdle cldls istandingg hurting.rtininey,ey w in s.d nn on the ts said s one t one evev abouabouitit doyit greenreen energy, dropping what we have now, going with something different is not a very good idea. >> he is not helping us. i have don't know of any unions he helped so far in other trades. i don't know if he is going to or not. that is what he says. i will believe it when i see it. he is certainly not for union pipelines. charles: well you just heard some heart-felt testimonies from blue-collar workers who spoke with fox news's carley carley shimkus. doing work that move with our economy. millions of americans already
lost their jobs or soon will. as president biden pursue as green utopia. the problem with this any vaughn n it is never about jobs. efforts to wrap it in the veneer of job creation just adds insult to injury. so-called green energy jobs are the same way ron sold rotisserie ovens, set it, for get it. fewer workers will need to be manage energy sources renewable. the administration will make things driving a bus with natural gas a green energy job. there is the pay. according to bureau of labor at that at statistics pay $84,000 a year. high-end for energy jobs are 64,000. you saw neil, levi, jason, will join a long term unemployed. another great, heartbreaking piece of work from carley. we pledge to keep telling the
story of the american workers that keeps our lights on, the ambulances running. now they are being kicked to the curb all in the pursuit of a utopian fantasy. we're watching the markets which continue to meander in the final hour of trading but this will be a big week, folks. this is the calm before the storm. you want to know the catalyst that will move these markets? stick with us. we'll be right back. you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up.
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charles: all right, folks, the weekend has begun -- week has begun slow, but it could be tough to navigate. that's why we brought in mike murphy. i want to talk about the cpi report tomorrow, it is everything. and i think one of the reasons powell did "60 minutes" was to get in front of it. how do you see it, and what's the reaction going to be? >> hey, charles. i think you're starting to see inflation spike up a little bit, you know, prices really increase. i've had two people in the last week tell me about the price of lumber expect price of gypsum for home building, that affects home renovations. so that's going to come into the market. but i think more importantly we kind of want some of that out there. but if the fed is still accommodative, that's going to give clear runway to the market. so as long as the fed is keeping interest rates low, more upside for this market. charles: all right.
then we get earnings. earnings season all this week complicating things. we start with big banks. what do you see going on there, and this is a space, i think, that you've mentioned in the past you seem to like. if. >> so the big banks, charles, have had a big runup recently. so when you look at the jpmorgans, the bank of americas, the goldmans trading at all-time highs, i think they'll put up decent quarters, but the question is how much of that is priced in. i think the real place for investors at home to make money in the big tech space, in the financial space is in technology that's disrupting some of the big banks. so i wouldn't chase the cryptos, but i think there's a lot of payment platforms, and there's a lot of credit card companies out there that are really going to interfere with the big bank dominance on financial services. so there's smaller ways to play them. charles: so so there's a new entry coming out this week, it's going to be a direct listing
that might fit the bill. let me find out. coinbase, we learned last week that business is absolutely gangbusters, no other way to describe it. i think net went from 32 million to 800 million. i think overall revenue went up 900%. it's going to be an amazing offering, this is no doubt about it. would you chase something like that out the gate? >> anytime you say would you chase, you can stop right there with me, charles. [laughter] i would not chase. here's the thing though, full disclosure, i don't own bitcoin. a lot of people at home that bought bitcoin at 10,000 or 15,000 the, more power to them. i wouldn't chase here, but, you know, this is an interesting platform. this, to me, is not just investing in a cryptocurrency, it's really a chance for the first time for the people watching your show at home to invest in a platform or the bank of tomorrow, if you will. charles: exactly. >> watch where it opens, let the people chasing move that price
higher, and on a pullback if people want to invest some speculative money, that could be a good one long term. charles: so i've got a minute to go. share with us what you like the most right here and the greatest risk to this market. >> so let's start with the second one. greatest risk, charles, i'm going to stick with it's not the 10-year going from 1.5 to 1.6 to 1.7 to 2 percent even, the greatest risk is geopolitical. it's what we're not talking about. it's not -- what we're not planning for. that's what could derail this market. but short of any unforeseen comes, i think this market is going to continue to move. upside, let's look at, still, stick9 with the reopening trades. big tech still works because that's where growth and innovat, but look at uber, they're back to booking levels from pre-pandemic times. that's a company that could do huge revenue, up to $110
billion, 110 billion in market cap. that's going to 500 billion in my eyes, so i think there's a lot of opportunity therement also we talk walmart a lot, reopening trade that's going to be e to do very well. charles: mike, thank you very much. my friend is back, liz claman. welcome back, and i hand it to you. liz: hand me a dud and hand me a bowl of chips. that is kind of empty here. we're talking about the global chip shortage. it is rising to the top of the white house agenda at this hour ooze ceos for -- as ceos from companies like general motors, ford, intel and micron meet with president joe biden to share their thoughts on how to bring this chip crisis to an end. but wait til you see the true impacts of the semi slowdown on car showroom floors. celebrity motor car company owner, he's got six dealerships,