so microsoft is investing heavily. they said before they plan on going after zoom with all they have and eating their lunch. so zoom, i would not -- i'm in the camp that rallies had to be sold versus buying the dips. i think this story has done a complete 180 and there's no growth and the valuation's probably still too steep, the stock down another 8% today. >> i guess the hope there would be there is going to be this model, this hybrid model for a while, if you go down south a lot of people in the office, but in the northeast a lot of people pushing back will there be a market longer term for zoom in it's not going to be what it is but we're not going to delete the app off our phones or computers, it's going to be a hybrid situation where video communications have a role. >> exactly 100% but i think the difference is, as you said, and in fairness to zoom, i think the last quarter was better than many expected. but with smaller customers being a top piece of the revenue pie that's going to lead to a volatile metric. yo

that big tech is still underowned as you suggest it's over owned and she said it's not that apple, microsoft and amazon's active portfolio weights are one to two points below the s&p 500 waiting indicating shares are still under owned. >> right >> so, i don't know what you do with that, but this seems to be a very interesting piece of research not to mention the fact that it's almost like you can't discuss apple and microsoft in the same way that you talk about other tech stocks because yes, there are valuations from a historical standpoint may be higher or the highest that they've ever been. they're still deemed by some to be cheap, if not value stocks and at the same time, defensive, and that's why money's going continue to go there >> well, you have to say free cash flow. >> microsoft is 6.4% of the s&p 500 and that's a big, big weighting. >> apple say 6% weighting and i still own a lot of apple, but i'm not going to be overweight i don't think that's a prudent thing to do as a portfolio manager. i don't want to become a faang portfolio. that's just not my style, so yes, i agree that they

. >> let's check out google, microsoft and tesla up 40 and 70%. amazon, only 8%. is this left behind stock left for catch-up that is next on "power lunch." your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire ♪ music ♪ ma♪ dream, dream when you'ren. feeling blue ♪ ♪ dream, dream that's the thing to do ♪ ♪ music ♪ when you see value in all directions, you add value in all directions. accenture. let there be change. it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast busine

microsoft is growing about 15% over this time google is at 23. netflix is at 27 amazon is at 28. and facebook, given all the discussion about the metaverse, they've grown revenues compounded at 34%. you can buy both facebook and google at a lower multiple than apple. and don't forget, apple is a massive pandemic beneficiary and so, for them, their iphone revenues over the last five years, fiscal 15 to fiscal 20 were down 11% over five years before you had this pandemic benefit. ipad, mac sales were also down year over year before the pandemic hit so, you know, for me, it's -- we like facebook a lot. we like google a lot they're growing 2 to 3 times faster and buy them at a lower multiple with faster growth rates in the future. and we haven't even gotten into the risks around privacy and what that does to their app store or take rates. >> right, dan. how much weight do you put into the services piece of the apple story? still a relatively small portion of revenue, but if you think that during the pandemic, they were a beneficiary and were able to grow that installed user base, cou

microsoft surface devices, orchestrated by cdw. they adapt to each user and deliver multi-layered security, so your workforce gets seamless experiences wherever they roam. for devices that fit your unique workforce, trust microsoft surface and it orchestration by cdw. people who get it. i'll shoot you an estimate as soon as i get back to the office. hey, i can help you do that right now. high thryv! thryv? yep. i'm the all-in-one management software built for small business. high thryv! help me with scheduling? sure thing. up top. high thryv! payments? high thryv! promotions? high thryv! email marketing? almost there, hold on. wait for it. high thryv! manage my customer list? can do. will do. high thryv! post on social media? hash-tag high thryv my friend! get a free demo at thryv.com. >>> welcome back let's get a check on the morning with philip mena in new york >> good morning. the jury will continue deliberations today in the homicide trial of kyle rittenhouse. critics pointing out the unusual move to have the defendant randomly

stock surging post earnings as activision and zillow plunge later on, microsoft enters the metaverse. netflix launches its games >> we will start, though, with the massive melt up in tech stocks the nasdaq looking to continue its longest winning streak since august of last year. still hovering around the fly line at the moment mike santolli with us looking at whether stocks are too hot this is the question of the moment, mike >> it is i would argue we're in a reheating phase, maybe not yet to an overheating phase but it has been quite a month a munt ago tomorrow that we did bottom and the nasdaq 100 up 10%. a lot are moving even faster this is the five-day chart remember the buzz etf. the social sentiment basket of stocks that are really being talked about a lot online. tesla is top of the list and affirm and a lot of the other ev names apple, as well essentially a lot of those stocks that basically have a lot of carry on social media are running, as are small cap stocks this is important to note. this is the time of year where there is a grab for the riskier parts of the market and i

microsoft is a powerful opponent >> microsoft is a great money on list, everybody loves it they basically can spend as much as they want you can never outspend them. it is like going up against the u.s. government when you are -- >> that's what i was going to say. i think zoom has an installed base that is consumer. they need to go up cisco wants to go up, too. but teams is building to -- teams reminds me a lot of when you used -- remember the browser with microsoft, the browser used to pop up and there was nothing you could do. >> yeah, yeah. >> then what happened after that >> there was this answer trust thing. >> david is right. they are so powerful they are like the government. when the government hears that are you trying to get something going against them. >> microsoft no, they are down the list a little bit. >> they have been avoiding any -- >> there are investigations going on, the d.o.j., and alphabet, and the ftc and meta they are trying to come back even though they were shot down. amazon. >> did you ever notice there is a company you would have to pay $200 million to run this

channels >> where have we heard that before this phrase like some of the incumbents in issues like microsoft. google, apple. >> i thought grammar wasdead o line how about making your words and grammar look different watch dell and gm there, you can see both are up more than 3.5% right now on cnbc.com. more tech check in a moment. >>> welcome back in the green today software and cloud stocks have been hit especially hard out with earnings. beating expectations reporting a loss and our stock moving up higher are about 6.5 to 7%. good to see you again. i want to ask you particularly about your reintroduction of guidance here. given what we saw from auto desk and another software what is giving you that confidence to be able to build visibility at this point >> one of the things as you know we've been doing transforming to be a subscription company. at this and we have the stability of the renewals business starting to kick in so this, combined with the solid operational that we've built over the last four quarters, that we've consistently beat expectations and raised them going forward, gives u

microsoft surface devices, orchestrated by cdw. they adapt to each user and deliver multi-layered security, so your workforce gets seamless experiences wherever they roam. for devices that fit your unique workforce, trust microsoft surface and it orchestration by cdw. people who get it. ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ >>> good morning, if you are just waking up or just rejoining us here on "worldwide exchange." that graphic is not incorrect. we are seeing a selloff across the board across all asset classes with the exception of treasury bonds across the world as well. we are seeing dow futures down 700 points right now nasdaq futures are down about 1.7% as well all on concerns of a new super mutation of a covid variant that has been identified insof south africa, a passenger in israel getting off a flight has been identified with it as well the

i think these big cap names that are still relatively fairly valued like microsoft, apple, facebook, google, to a certain extent even amazon, believe it or not, i think they'll continue to do the grind. i apologize, dan actually asked me to go to the application forum to buy the skype thing i wasn't able to get there there was too much traffic i apologize to our "fast money" audience >> the lines are real long for the applications these days. that's popular >>> steve grass so, what sectors? is there a seasonal trade sector wise to your end interview >> yeah. i mean one of the names that i hold is still sonos. i think a lot of their headwinds where you couldn't get products on the shelves you couldn't get products for them to actually get in the hands of consumers those are, have gone by the wayside. i think names like that, i think travel names will be up. names like costcowill be up. there will be a chase still for some portions of retail. other portions as we've seen that don't have pricing power will fall out of bed i don't think you are going to see. i think you will see vacation

microsoft surface devices, orchestrated by cdw. they adapt to each user and deliver multi-layered security, so your workforce gets seamless experiences wherever they roam. for devices that fit your unique workforce, trust microsoft surface and it orchestration by cdw. people who get it. want more from your vitamins? at nature's bounty, we give you more. more immune support. with the only vitamin c that lasts 24 hours. more restful sleep. with the first-ever triple action sleep supplement. we put more of our brains into helping your heart. we give you more wellness solutions backed by rigorous science than we ever have before. nature's bounty gives you more, so you can live bountifully. >>> welcome back time for your big money movers three stock stories of the day here we go shares of next door holding surging on their first day of trading yesterday and higher in the premarket now after going public through a spac with coast venture acquisition. the deal valued next door at 3.4 billion, generated 376 million in gross proceeds. that

you bought microsoft and why take profits in the other? >> microsoft just got way too big. it has been our largest position for years. it just got too big and we had to trim it down. we are overweight large cap tech for just a host of reasons, you mentioned some of them, but the technology adoption in the post-covid world has only been accelerated and these are the leading companies that -- that are basically participating. collectively they've done about $130 billion in capex over the last 12 months so we should expect new innovations, new products, new markets coming out from that capex. if you look at their free cash flows, roughly 4% to 7%. that's against the market and the s&p, x, and these large cap techs is roughly 6.5%. so while they're trading at higher multiples of cash flow their growth rates are double the market the margins are double the market and every investor has to recognize that with the growth of indexing, roughly 25% of all monies going into the s&p are going into large-cap tech. so you have to have an overweight in these names. >> why did you -- why a

microsoft surface devices, orchestrated by cdw. they adapt to each user and deliver multi-layered security, so your workforce gets seamless experiences wherever they roam. for devices that fit your unique workforce, trust microsoft surface and it orchestration by cdw. people who get it. the outlook came in. rdblox, 30%. affirm, 28%. thankfully, to be honest with you. they are not in the s&p 500 benchmark. otherwise, i would have to pay attention to them. a small piece of the market overall. if you want to play in those names, go for it but those are not trading on real fundamentals. but to move in these kinds of ways is really -- it's a little disturbing i'm paying attention to it, brian, but it is not something to invest in >> no. it's gambling. or it's guessing even worse gambling, you might be able to put the odds if you buy a stock and it falls 30% after hours, there is something to be said somebody said what's the bull case for stocks, that's my friend and that's kind of how he sounds the market has been cut by half even more

deal with microsoft to take on but with our new multi-cloud experience, you have the flexibility you need to unveil them to the world. ♪ it's another day. and anything could happen.. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's nex

microsoft teams pops up on a bc when ever you open it. nothing sells like systems that you can't get rid of when they down loaded right to your computer and some stealth upgrade that happen in the middle of the night that i can't stand. there's netflix. this is a nice story they did well in the lockdown and shockingly well in the roping how about alphabet did better than any fang stock wait after this run is too dice zi to pull the trigger facebook, meta platforms who else wins in the a slowdown. sometimes you can't over think it you have to say the utilities. we're so blessed to get the regularly quarter lowdown. when we spoke to the ceo a couple of weeks ago, he told the story. the stock is 83 bucks in the mid range between the high and low just as important the fed won't hit us with a rate hike. it's hard to go wrong with ap even though no one says jim thanks it's double and gives me a great yield the whole way through. what about the other winners you have some health care plays you have to get into let's get to the crux of what works

. >>> uber now getting smoked this morning as wells gets bullish on microsoft. both of those stories are next "techcheck" is just getting started. ♪ it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. look, if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better—xfinity mobile. now, they have unlimited for just $30 a month. $30. and they're number 1 in customer satisfaction. his number? delete it. i'm deleting it. so break free from the big three. xfinity internet customers take the savings challenge at xfinitymobile.com/mysavings. or visit an xfinity s

microsoft is on the back end to leverage the infrastructure. i think we'll see the same you have conversations with how many metaverses will there be? it's unlikely we'll have one universal metaverse that's intero intein interoerpable across the board so i think it's very real. i think this is long-term in na nature this is not something that's going to happen overnight, the montization is not going to happen overnight but the investments associated with it are absolutely real. >> i would like to tilt away from the metaverse we know what's going on there. the upside momentum is there i had mentioned some of the big payments provider s and payments networks as being extreme underperformers over 2021. there was a time when payments in fin tech were front of mind for many tech investors, i think paypal, square, yet they've both under performed immensely. is there a value trade in your mind >> fin tech has been the most difficult sub sector year-to-date the market is on all-time highs and the fin tech names you highlighted they're underperforming w

it's below a hundred right now it's even below 99 >> i was looking at microsoft and apple, both down session lows 1.5 to 2% it might be interest rates, might be something else. still, "closing bell's" got a lot to talk about. >> thanks for watching "power lunch," everybody. "closing bell" starts right now. >>> a lot to talk about. welcome, everyone, to "closing bell." i'm sara eisen here at the new york stock exchange. red hot inflation translating into red screens on wall street. losses are accelerating throughout the session the nasdaq seeing the sharpest declines as we head into this final hour of trade. down 2%, tech is getting crushed today. >> it is indeed. good afternoon, i'm wilfred frost. let's have a look at what is driving the action rising 6.2% in october versus last year. the fastest pace since 1990. fuel oil prices were up more than 12% for the month speaking of fuel, energy, the worst performing sector today as oil and natural gas pull back, tech also falling hard and evs are a bright spot. rivian surging on its first day of trade after pricing above its initial price

that supports my opening remarks in which i suggested that there will be a resiliency for the apple, microsoft, facebook, alphabet-type of mega-cap equity names. they are delivering double-digit revenue growth they are conducting their business with strong, operating leverage and margins and they're generating significant free cash flow so i would agree with that and that's where this kind of differentiation sets itself into place for technology, and i also think it kind of plays a little bit back towards what kathy was speaking about this morning, if you look forward over a five to ten-year period i don't think many of us would be surprised if i said kathy would enjoy a positive annualized return the question becomes is it a single-digit return or a double-digit annualized return in the here and now the problem that kathy has is that her strategy, unfortunately, is so highly correlated to whether deflation takes hold, inflation takes hold and the position of interest rates and that's a difficult position to be in right now. see i kind of fall back upon when you're in the environment and when

yesterday it announced a 15-year deal with microsoft to provide renewable energy for all of its data centers in virginia, 70% of the world's internet traffic passes through virginia centers. with new commitments today, more than 40 countries have now agreed to phase out domestic coal power, including five of the world's top 20 coal countries. the u.s., which relies on coal for 20% of its electricity and is one of the top three burners of coal worldwide is not one of them shep. >> we're four days into this summit and heard a lot of pledges and commitments, but are we getting any closer to the main goal of the conference? >> reporter: well, the main goal was to keep global warming to 1.5 degrees celsius above pre-industrial levels. today they said if all the pledges or carbon neutrality and methane were fully implemented and we could get to 1.8 degrees. of course that's a big if. as we all know politics tend to get in the way of pledges, shep. >> diana olick, early this friday morning in glasgow. >>> two major cellular providers hitting the pause on rolling out 5g service the concern o

the five-star morning fund has a blockbuster 2020, a total return of 88% top holdings, microsoft, alphabet, amazon and tesla and nvidia, all soaring, except amazon mike, good to have you >> thanks, kelly thank you for having me. >> a lot of those are -- this is the challenge with your sector right now, right you on-the bigwn the biggest sth country. do you let it ride do you see anything else that can move the middle for you guys for the next 12 months >> well, the answer is yes, of course when you see what is the top portfolio, we have significant investments in companies that are less household names whether it is a zoominfo, a hub spot, software that also really influence our long-term returns. >> can those companies ever get to the size and scale of the major players or was that a one-time 2010 phenomenon >> listen, i don't think it is a one-time phenomenon. when you are talking about a company reaching $1 trillion market cap or some now $2 trillion, it is very, very hard to do. but, you know, as long-term investors we try to find companies that can grow faster for longer, that they ha

we're buying some of the growth in megacap again we saw google and microsoft earlier last week and their earnings were strong on advertising in cloud and as you mentioned apple and amazon, which the market didn't responds r respond to positively with their earnings and different headwinds there. there's opportunities in those stocks when you look at apple and amazon i think ecommerce makes a comeback as we look toward the holiday season and you look at amazon's cloud business still growing really, really strong. i'm buying more of the growth and megacap still. but stronger, overweight on the mega cap brian. >> we have the graphic up next to you and it says meta platforms. hi to do a double take and remind myself it's facebook. i'm going to call google google, i'll never call them alphabet. meta platforms is facebook you say it's like survey says and the thing flipped. anything you don't like, in a police sta place you're avoiding putting money? >> a couple of areas investors want to make sure they're staying in their allocation there. i do still like facebook and that's are an area we're

microsoft surface devices, orchestrated by cdw. they adapt to each user and deliver multi-layered security, so your workforce gets seamless experiences wherever they roam. for devices that fit your unique workforce, trust microsoft surface and it orchestration by cdw. people who get it. >>> well, my vision is to use disney plus as the platform for the metaverse. i think it really blends our physical beings with our digital beings and creates a three-dimensional canvas otherwise it's a park experience or a movie experience or it's a book experience. i think those all come together without boundaries, without borders, without constraints, and our creatives are just biting at the bit to get into the disney metaverse >> seems everybody's talking about the metaverse these days including disney's ceo bob chapek i want to find out to my committee members and find out if they're even thinking the metaverse. are you playing this yet >> of course i think first of all defining the metaverse is like defining transitory it's a different definit

narrowly, down 2.75% 2% decline for microsoft alphabet down 2.5% amazon, outperformer, only down 1 and a third percent. e-commerce helping buoy that trade. tesla down 2% as well. these five stocks makeup a large part of the overall s&p 500 and nasdaq the tech sector overall, the pull back from highs we have seen recently is still modest. if you look at one of the etfs, xlk, that move puts you 4% below record highs we have seen in the last couple weeks to put that in perspective now. also, if you want to look at what's working versus what's not working, there's been an interesting move in certain parts of the market that have shown signs of life versus others that have not if you look at some stocks in the news today so far base of trades we have seen, look at names that have done well, beneficiaries of the lockdown we saw last year during the covid pandemic zoom video, now up 7%. that's off session highs docu sign up 2.5%. teladoc health, up 5%. etsy is down 1% now, and peloton, big underperformer when it comes to connective fitness, up 3.5%. those stocks that benefitted the most durin

s&p grinding the way to the 60th record of the year but without the helptechnology, like alphabet, microsoft and apple, and what did work, check out moves in macy's kohl's and gap and nordstrom. energy posting the biggest gains let my oil so what do you make of this market action. dan? >> yeah, i think it is pretty fascinating. you mentioned the move or the lack of participation in mega cap tech you have to go back to the first quarter of the year with the ten year was trading 1.77% at its high up from 1%. what was lagging at that point it was mega cap tech there was a move into more gdp sensitive sorts of names and that is what we saw here today but i'll also tell what we saw here today is something i don't love so much the move into high valuation names that don't have a whole heck of a lot of profits and they just really squeezed the heck out of them today so to me i think there is a push and pull there, move out of that because of the expectation of rates but most important thing i'll say is where is the ten year right now it is not back at those highs right now. especially as we have eq

microsoft surface devices, orchestrated by cdw. they adapt to each user and deliver multi-layered security, so your workforce gets seamless experiences wherever they roam. for devices that fit your unique workforce, trust microsoft surface and it orchestration by cdw. people who get it. >>> welcome back germany. est's new leaders are ready to take power they emerged from weeks of secret talks to announce they have an agreemtd on how to form a coalition government they will replace chancellor angela merkel. members of the three parties need to ratify the deal and that's expected to in the next week or two. >>> the jury in the ahmaud arbery trial came in the court room briefly to rewatch videos and asked to hear the 911 call that one of the defendants made the day ahmaud arbery was killed >>> and nasa announced a spacecraft that will smash into an asteroid. this target is not a threat to earth but nasa wants to know if it can divert an asteroid if it is heading to collide with the planet certainly hope so. >> that is a highly anticip

you have microsoft, mastercard and nvidia, but what do you mean in terms of the run we could see for diamond back and eog >> one of the transition problems in this next cycle is the fact that we've so cut back on the amount of oil and gas development sending we're doing that we're just going to need to price demand out meaning we're going to have to see oil over $100 a barrel before we can begin to touch the imbalances on the supply side. so that's going to lead a company like eog and diamond back, i mean, they're going to throw off 30% or more of their market cap in free cash over this next five years it's just so powerful. when you have a business that has that type of free cash generation, generally, you see it as share buybacks, dividends, and you have a great support for the stock throughout the entire phase. and so i think you're going to see a whole different view of these kinds of energy producers that have low cost space and high cash flow and it will be another example, like ford, of an old cyclical business that gets upgrades, if you want, into a much better valuation prof

we have the tech cycle going 2022 we have a nasdaq, 19,000 target and names like apple, microsoft across cloud cybersecurity and these are the times to earn these names and your other guest talked about, in our view it's a semi-remote environment that's here to stay and it's another reminder in our opinion to buy these tech stocks. >> what if we go back to a period where tech gets hit because anything that's considered highly valued if the fed does a faster taper if this variant does not prove to be as worthy of economic concern if it holds up against vaccines for instance if you're in that environment, then tech is not so popular. when you look at names even like a microsoft and we try to use the safety blanket name in this environment and there are higher risk names like docusign other andsand it's a industrial revolution playing out right now. we'll have 3 to 4 trillion of tech spend over the coming years and what's happening now is it's accelerated in this environment. you can have cybersecurity, cloud and apple and we've done the black friday checks that shows that apple will sell 1

aaron airlines, black rock, general motors and microsoft >> a lot of talk about bringing down risk. money coming in and how do you get all of this money to the right places especially when you are in that kind of public-private partnerships. >> talking about brian moynhan, how does he look at risk >> he said you have a certain commitment to going net zero then you have the green premium of how much more it costs to go green. how much can you get in there. he said the risk is substantial and has to be considered when making those deals he said brining down that green premium will lower the risks for the banks, courtney. >> because of the public/private partnership. you can't really depend on the government to pass these things and to get the money they need for investments. how does this move forward is it. >> i asked bill gates. he said this public/private partnership will be lower in that bill doesn't pass that is $555 billion going towards climate technology and investment in the u.s. they have relationship with the uk and the eu. that is based on money already budgeted the u.s. i

that means amazon down or microsoft down because people think it's slowing people mention tesla you don't need to buy more than that right now you can get more opportunities to buy stocks. it's a weakness, keeping my power drive for the rest putting money away in short, i am not saying, okay. that would be foolish. i wish powell hadn't made these commence until the market finished processing the new variant. i think this weakness is potential absentee workers who fear omnicron will have inflation first. we never seen anything like it powell's got the bases covered powell's gotten it over with he said what he had to say about inflakes or bond buying without lock rate hikes. they did it in 20 on it's almost cathartic. i still want to be conservative. and be sensitive to the first omnicron casualty here this sell-off is based on covid and the fed, probably equal parts. for now the fed won't say anything right. that damage is done. while we're in omnicron purgatory, you need to keep your market dry we get a wave of sensationalist stories, another news wave has arrived in short i'm trying to p

big companies are using microsoft teams and cisco. is there enough for all of these companies to kind of win and still make gains or are you convinced they will win at the expense of companies like cisco? do you make any bets, go long some and short cisco or the others >> well, we aren't, we're long only at least at the moment, and, yes, we do think it's at the expense of the old telecom equipment companies. and as i mentioned, this is a $1.5 trillion category we haven't ripped and replaced for 20, 30 years this is a very big replacement cycle. we are at the very beginning of it. >> real quick, because you said at the moment you are long only. do you have any plans or thoughts about adding short positions to some, one or more versions of your funds >> well, we have internally for employees only, we're testing out a portfolio, but it's really ark on steroids if you can believe that we want to test it out on ourselves first and make sure that everybody keeps their eye on that five-year investment time horizon which is our time horizon a

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but i think roblox is probably, the more direct competitorsare the likes of minecraft, owned by microsoft the most similar comparable experience and platform, i think there are other higher end platforms that, you know, the creation engine, there is a number of those that are out there, some private, so i would look to those. it is going to be a long haul for facebook to do what roblox has been doing for almost 20 years. they coined the phrase metaverse about what they were going to do almost 20 years ago now. and you have to be able -- a lot of that trial and error and making mistakes and fixing sh that is experience that you can't replicate even if your facebook with all of the money that you got that is a tough experience to -- and how to scale it and all kinds of different ins and outs of it. it is already built, it is an eco-system already feeding itself so -- >> we like the stock 134 is your target john, thanks for joining us. >> thank you for having me. >> and tomorrow don't miss our interview with oak tree capitals howard marks and the ceo of chipotle right here on "closing bell"

microsoft. some other chip names. moderna down small caps under perform it does look like the dow and small caps coming closer to the flat line. s&p 500 and nasdaq go out with a record close ♪ >>> welcome to "closing bell." i'm wilfred frost with sara eisen and mike santoli closing with another record high for the s&p and the nasdaq the s&p up 0.4%. nasdaq up double that why the dow nearly in positive territory. nice ramp we saw into the close particularly for the dow down just 31 or 0.08% excu consumer discretionary and tech only up more than 1% we have a huge hour of earnings ahead with airbnb, expedia, square and uber. also breaking down the numbers from shake shack, dropbox, peloton all results are moments away stephanie link is still with us and emily hill joins the conversation mike, to you first the other thing which we touched on at the top of the show and the hour -- i did shower this morning. move in yields very pronounced and led by europe and the uk in particular and points to the story that the move to

the nvidias, microsoft higher. tesla, apple, amazon all lower facebook as well there's the bell looks like we are set for another quadruple closing high a quarter of 1%. another strong finish eight days in a row for the s&p >>> welcome to the "closing bell." i'm wilfred frost along with sara eisen and mike santoli. four record closes once again. only slight gains on the day but you can't complain when it's so consistent as it has been. s&p 500 up .1% dow up 0.3%. nasdaq up about 0.1% a couple of high profile decliners. tesla down 5% today. investors now set for an hour of earnings moments away from reporting the numbers. plus also breaking down results from thread up, real real and lemonade once they cross josh with us and another guest joins the conversation mike, yields of interest remarkable how low they in general have settled with that settle and lack of volatility there equities grind out the gains. >> especially because the lower yields is not taken as an economic flare being sent up it seems to be a lot of

i always point to microsoft in the year 2001. they were a great company in 2001 over the next ten years, their earnings tripled, and their stock went down 35%. why? because they started that period at a 45 pe and they ended it at a 13 pe so there are a lot of these companies today that you're absolutely that they're going to do fine from an operating point of view. but the stocks are not going to do well when people start using a real discount rate rather than this very unusual discount rate that they've been using for last ten years. >> so how do you prepare for that what do you put money into if not -- and, plus, i mean, tech stocks are such a big part of major indices, especially the s&p 500. is there anywhere to hide? >> so, big stocks, tech stocks were a very important part of the s&p 500 in 2001. that was exactly why you didn't want to buy the s&p. you wanted to own value stocks in 2001. and right now you should own value stocks we got lots of great banks trading at 11 and 12 times earnings we have some energy companies. i

because microsoft is the other one. it is a bond with growth and a thing where it seems like it has maybe some beaten don expectations going into this tough macro moment right now and therefore had upside potential energy beyond that i don't know why we're piling in to apple. >> tesla is positive today. >> another one that is its own asset class with a constituency and goes on the own rules basically. >> not up 2.5% apple is. looking at the big board down 700 on the dow down more than 2%. on the s&p 500 as well just going back to scott's point moments ago i get that we are close to the all-time highs but below friday's high now and the vix spiked are those significant? >> reflecting the fact that we have a very unsettled uncertain moment the come by nation of having a lot of house money built up through huge gains year to date and not just the indexes but individual stocks and the impulse to try to lock that in, reduce risk and potentially harvest some tax loss offsets in the weaker stocks at work today. i don't think t

alphabet, and microsoft. and the semiconductor etf is hitting a new high this week what is hit? travel stocks. again down witness to three percent today. peak travel optimism was a clear date november 8th the day the u.s. okayed foreign visitors to come in. since then, straight down. since november 8th same with oil. oil is a proxy for global travel topped out at $84 two week ago now it is $74. most of the big oil names are down about 10% since then. an interesting week, kelly become to you. >> key if it helps with the gas prices in next week's big travel week bob, thanks. >>> let's go to rick santelli and check on bonds. >> my phone was going off like a pin ball machine at 2:00 in the morning about austria and bavaria cancelling christmas festivities. closer to our time zone, germany saying an entire country lockdown wasn't going to happen. and all of this putting huge volatility in the marketplace in a sort of flight to safety trade. look the 24-hour chart of tens you could clearly see when the headlines started to hit how yields drop. right now at 1.53. down six on the day, d

the younger names are a lot more attracted to inestvestors these days >> i remember when they called microsoft a dinosaur you all saw jurassic park. >>> after the break, i sit down with mongodb ceo live. the stocks enjoyed a nice run up reha60th yr.mo tn % isea stay with us it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. >>> take a look at shares of roblox strong earnings last week popping another 30% in the last five days. yesterday announcing some new ad products management saying, quote, in the next three to five years all will have a roblox strategy and that has gotten notice from some of the desks, especially morgan stanley, john. >> i'm just

let's look back at the market cap just below the marquee level, the first time for google joining microsoft and apple, which those two are around $2.5 trillion stocks. it is the fifth straight day the stock is higher, an all-time high, of course, up 70% this year meanwhile, peloton continues its decline. it is the worst performer in the nasdaq today look at the shares, down 7.7%. they're now down 45% for the week peloton back around 51 over to tyler mathison for a cnbc update. >> i have to do a 45-minute hidden hills later today to get the stock back up. let's tell you the news at this hour police in missouri arrested a man they believe shot and killed six people across two states perez reid has been charged with two kountsd of first degree murder police sources say they recovered a pistol they believed tied to all six killings when reid was arrested. >>> on the news tonight, how police tracked him down and what similarities the cases share that's tonight at 7:00 eastern time, ""the news with shepard smith"." >>> covid infections in germany hit a record high on the same day that vaccinated

that consumer sector and s&p and nasdaq facebook strong and amd and nvidia and weakness in google, microsoft and apple. small caps the big winners up 2.65% have not made a record high since march and a catch up day. investors are set for a big hour of earnings. results from nxp semiconductor, clorox, sichegg and avis budget with the numbers are out. on the record closing day, you general profit and chris varone are still with us. ali mccartney joins the conversation just give us a sense of how the met worth clients feel and how they're positioned after we see a very strong month of october a ann is how have wegotten through what usually is a super challenging month with the highs and the anxiety out of d.c. and high energy prices and last week revising down and the answer is the earnings and today demonstrates the excitement around cyclicality today we had a consumer discretionary outperforming day and what we are seeing is that there are more jabs going into arms we have 5-year-olds and up boosters people meet around the world to deliver vaccinations to the emerging world and not just the u

. >> yes >> every single time >> i think our viewers do, too >> microsoft in a video yesterday looking at mesh and teams and the testimonial from acce accenture. it's like, wow, i guess i better use it he's doing a good job. it's never mentioned in front of congress, not since 1999, when they had that nasty dust-up where steve balmer said some things >> half a billion write-down, cut ago quarter of its workforce. is this right, in april of 2019? take a listen to this. >> maybe they can orchestrate a remarkable turnaround in zillow, but i think this headlong rush into buying houses business, there had be brutal speed bumps along the way. >> wow >> well, it turned out to be a bit like when andy deframe approaches the ward in shaw shank, and says there was an obtuse mood. remember, they were going to make a market in homes, like the now nasdaq it was ill-advised, i said stay away, count touch the stock. >> and you were dead right. >> but i liked wingstop, too. >> was it based on estimates >> exactly they thought they could predict. >> ai. they own thousands and thousands of homes. >> i th

same thing with microsoft. obviously tesla has a deal with elon musk's tweets and his polls and occasional sales now, as well, but other than that, tech is just fine, scott, and i think we will continue to do just fine in fact, we just shot over to preshant and his team and the s&p 500 that just showed 73,000 calls being bought at the december 472 strike. that's only about 1.5, 1.7% out of the money right now certainly, we could get there like that, but that's a big $29 million bet because those were $4 options and they bought 73,000 of them and they're controlling $3.4 billion worth of stock for that purchase, so i would stack that up against some of the outflows perhaps that retail has taken versus a big institutional size trade like this that says we're going higher into december and like i say, that's a pretty big bet i want to ride with those big bets rather than people that are not dumb, but that are bakley balancing their positions, perhaps. this is the end of the year and i'll ride this thing higher and

bidders and replace a 10 year, $10 billion contract terminated in july amid a battle over it between microsoft and amazon so looks like maybe they're going to split the baby and give them all a chunk of it >> probably the best way to avoid, you know, companies complaining in your ear constantly or lawsuits, but still seems a little overly easy, i think, bertha. >> just not picking one of your favorite children, distributing it across them all >> that's right. marsha, jan, cindy, you all get an equal slice of pie. we'll see you in a few minutes. >> thank you. >>> now back to the markets and your money even after the fed finally announced the worst kept secret in the world, the bond buying would be scaled back later this month. but does it matter for the stock market it hasn't so far stocks keep running higher, some feared it could slow down the economy eventually let's bring in lee baker do you think this will ultimately impact rates and/or impact the overall american economy? >> i'm thinking no, i don't. at this point what we've got is what we've known for a long time markets don't like uncert

scale up demand and supply and say there's a lot to figure out out >> reporter: c customers include microsoft, shopify, square and stripe. stripe's director of climate says it's looking to the fastest carbon solutions because its customers, the financial services sector are most vuln vulnerable >> climate change is one of the biggest threats to economic growth so we care how we can do our part and use the place that we live in the ecosystem with the 2 million businesses we work with to accelerate solutions >> reporter: the carbon credit markets ramp up it's innovation that stands to make big green in >>> a major push for autonomous driving technology, what congress will now require automakers to do to stop drunk driving. >>> plus -- >> america needs a new narrative. i think we can agree on that >> math miu mcconaughey speaking for a potential run for governor in texas what he told our andrew ross sorkin today >>> a major health system in america facing one of its biggest strikes in years pharmacists already warning of impacts to come. the labor battle, as we approach the bottom of the hour an

an operatin systems for vehicles it's at subsystem levels in the vehicle that looksing more like a microsoft window and a full system for the vehicle that's upgradable and layers applications on top of it. from that level aptiv is working with hyundai and bringing cars to market later this year that we think are best in class that's another way to get involved here is looking at some of the basic architecture of the vehicles. >> what about rivian this is a company with a $64 billion market cap, it doesn't have any manufacturing experience, doesn't have any sales, very expensive but also big backers in the likes of amazon and ford. does $64 billion make sense for you there? >> for us, we're not in there so i don't want to comment oval w - on valuation there's an opportunity for vehicles moving to electri electrification. there's a lot of enthusiasm left in the group, and work for startups making cars there's a big opportunity for them, but actually making these vehicles, you know, optimizing the designs and taking cost out is an awful lot of work. we've seen some of the established oems strug

microsoft and sony said video game sales looked good for them. is it going to be a follow through for best buy remember, we just spent so much money outfitting our homes and our technologies for work from home, for our kids to do school from home. how much more can you really grow on top of that? so it is a tough comparison here going forward for best buy in this quarter >> all right gina, what would you do with the stock? i was in a store the other day for the first time in a couple of years and it is amazing how much you can see andtest and experiment with, whether it is podcasting equipment or cordless vacuums. >> yes and i think, you know, courtney's point about whether or not demand can remain as robust as during the pandemic is a big question one thing best buy has managed to do is they've managed to flex their pricing power and be able to pass some of the wage hikes and other costs that have hit them through to consumers. so i think that's a positive story. so even if they do suffer short-term supply chain pain, they should be set for the

punching above that milestone here is a look at the top performers during that period of time goldman, microsoft, home depot, amex, apple, all of gains within 40 to in goldman's case 68%. boeing and walmart is the worst performing walmart is the best of the group with a 3% decline. verizon is the worst, dropping 15%. >>> let's turn to shares of hp ink today, leading the s&p after better-than-expected results and strong guidance for the quarter. the ceo telling jim cramer they expect to see robust demand for pcs and prioritizing commercial clients. shares on pace for the best day since march 2020, up nearly 11ers. to rahel solomon for a cnbc news update rahel. >> hi, kelly here is what is happening at this hour. >>> verdict reached. that is the word from a court sheriff at the trial of three white men charged with killing ahmaud arbery. outside the courthouse supporters of the arbery family are calling for justice. >> let me -- let me say that is yet to be answered is will we get a verdict like the ones from the jim crow era or will we get a verdict that says, america, we are better than this, we