Welcome. Our Investment Committee is at the table today. We begin with shares of target on pace now for the best year since the mid 1970s. Shares are up 89 year to date pete, naturally im coming to you first. We always joke about your relationship with brian cornell. You are friends. Yep youve pitched this stock for about as long as i can remember and youve been dead right and you deserve credit for that. Wow i appreciate that. They keep performing. But the reality is go back a year ago, stock was trading in the 60s when brian said we see strength everybody talks about recession and all the Different Things out there that are the boogeyman, but he never brought that up he continued to pound the table that the consumer is strong. And you look at each one of these Quarterly Earnings results, and just the last one that they had, their numbers were off the charts then once again he talked about Margin Expansion and the strong consumer they have just been executing the right way. And they made all the stores look a heck of a lot better, they started going more and more toward these formats that are in the urban areas and College Campuses and of course the buy shipt. And that is the Building Block in terms of what they are doing for the digital ails and t the one day deliveries is a monster right now. And i mentioned about your relationship with cornell because i think that some people look at they talk about the stock and they say he is just saying that because he likes brian. I would got that. The reality is that the stock is up 90 year to date or just about. As i said, best day since august 19, best year since 75, Digital Sales up 31 year over year. And you bought it before and now you added to it yesterday. I did and the reason that i i followed pete in, so it was a great call i got there and it was a nice gain but i reason i bought more yesterday is because i believe that the reason part of kohls miss was that target was taking share. So you really need two things in this retail environment, one is a great manager which we have here and we have at walmart and lulu and we have it at best buy. But particularly you need scale. You have to be able to have the dollars to invest in the technology and the other enterprises as you mentioned in order to stay pace with amazon and perhaps beat them at their own games. So target has both so i bought more because of the miss by kohls because i believe that the consumer is still in good shape im not selling that that i bought yesterday i think that the stock will continue to run. This is a know men tumomentum m. So if you have a positive bias, you want to add when the opportunity presents itself. And i said 31 year over year cramer this morning says target is maybe the most superior retailer that is online in america. Brick and mortar who is online not talking about amazon he obviously knows what amazon is is that true they certainly spend a lot of money working on their Online Presence they realized a couple years ago that they had to invest both in their stores and they had to totally create a usable website that was very clientfacing friendly and they did that so i would agree with jim that they are the best traditional retailer in the online space in a way that is quite only anmnipt when you do a search, the target name could be first or second and that costs money haand cost attention and time so that is impressive. But if you are an investor, you really dont want to own, you know, kohls, people might own macys for a trade, you dont want to own gap, people are flooding in to target because it is a quality name that is producing the results. They are crushing macys, kohls, jcpenney and sears nobody knows where kohls is but you know where target is they advise in the right places. They sponsor the right events. Kohls is the best place to return your amazon stuff exactly it may be best known ultimately as jcpenney although it is not close to that yet. But it has had problems for years. Doc, you own delighted about it. Wished i own it as long as pete owned it but nonetheless this has been two quarters in a row where they have just crushed it same day delivery. And part of that is that they dont have to do the last mile for everybody. Because in other words the curbside pickup. So you order it online and you into he and pie pick it up there saves them a fortune and that is working. And it works in a way that unfortunately for macys, they dont quite have that same flexibility. Obviously kohls could but they havent done it. They have also cut back on capex just recently. So to petes point, a year ago they were redoing all the stores they have spent like crazy to do that and now they have guided us that they will intend 3 pnt 1 billi 1 3. 1 billion as they cut down on capex. So when i look at 4 growth and things like that, i dont know why you would get out of it at this level so youve never got into even have the conversation about when to get out, right . I mean you are in lulu, tjx and walmart has been your retail horse. Yeah, i didnt add to walmart last week and what is discouraging is general her c n merchandising. It was weak. And you have to say to yourself there is a significant valuation gap. Is that valuation gap justified at this point, are investors going to come in and pay a hire premium for a company that is basically a 65 million market cap cher success tversus walmart and the answer is that they probably will. I suspect they will. I would need to sell something to buy target here i wont silt and chase it, but i agree that it probably continues to move higher from here i said last week im not heading to walmart, it is disappointing and probably a name that ill cut back on. And one question that i would add though you wonder if you will see a similar effect when best buy reports next tuesday because i think that there is room to the up side. At what point is it fair, maybe you will say always, we looked at the disney run, mcdonalds run and you say im getting a little nervous this stock as much as i love the company, i love the leadership et cetera, et cetera still feels like it could be a bit of an uncertain year that makes total sense what you are saying but i think that the reality, you put up the graphic, the gap is starting to close the gap is absolutely starting to close a little bit. But the difference is that they keep showing growth and they will continue to show the growth because one thing we didnt bring up at the top, how about the private label idea that is where margins are made and when you look at what is going on with target, whether the grocery space or the rest of the store and there is five different segments to their store, when you look at that, they have private label everywhere and that is something that will be huge for that and them just helps on their operating margins, and that will kick in i think for target as well put that wall back up the winners and losers does anybody look at that and say, wow, i mean john pete owns macys calls, right i dont trust them. And that is basically based upon right now maybe a big short squeeze. Im not a guy who is saying that i own these calls because im a huge bull. So maybe for a trade. For a trade only for a trade for one looks at those names and says lets just take a flyer. Maybe more than just a trade we owned costco for the last three years and sold it because we thought it was getting expensive. It is working but it just got to be a multiple that we couldnt but that is one of the supersuper super the haves id rather own the equity rather than the calls. Whenever Real Companies trade at that high yield, what they are telling you is that they will cut the dividends at some point, right . Probably prudent to do if they do, while i think that it is most anticipated, the price is going to come down somewhat and i think the call there is this name are not something that you would do. I think id take a flyer on macys i thought of it at 30 or 25. And there have been great opportunities. Every once in a while there is a positive story but did they just close the door to that i wouldnt say that it is a different experience shoppers dont go to macys and target is it the environment proving that you are wrong thoeg people are going to are target, not macys no, i think there is a referendum on mall based stores rather than stand alone locations they offer grow ceries or but if target happened to be and an core athor anchor at a ms still target but what im saying is that the targets have become destinations that the malls used to be. It is a lot easier to pull up to a target and walk in than to pull up to a mall and walk into a mall based store one is more of just Broad Product offering which is target most of those names are hyper markets and it is a one stop shop and you walk into target, you get your groceries not too much on the grocery side though. And that is thebeauty of it, only 20 you can still get Something Like that. You go into macys, you are going to buy a shirt or a pair of shoes it is limited. Also i cant see why would equity flow out of the haves given the momentum into thes hae knots. And i think the debt side is a way to play it and the activity in the market has been quite intense. Levinthah ml may disagree and one i took a shot at is l brands a multiyear low. Traded down into the mid 15s i believe. Made a little bit of a rebound if you want to call it that, over 16 bucks a share. Still down over 37 year to date this was a 60 stock at the beginning of 2018. It has been decimated. It has a 10 short interest. They are coming in buying calls, that is why i bought calls in here and well see if it bounces. But it is not a long term, not like carrie was saying with costco this is one that if it goes to 20, ill be gone but i think that it could see that kind of squeeze. And im looking at kohls downgraded at goldman. So i think that they like us look at what target just delivered and wondered how much of the pie is available for some of the others hurting. Lets kick around lowes for a second all time high again today. Revenue was a miss, koccomps mis how do you take it super clean stores. You have a very i think a different experience than when you go in for instance id say menards, they are much more crowded, they have stuff in the aisles much more like a wall nart used walmart used to be. In lowes it is clearly defined where actual find whatever it is that you are looking for and so i think that they are executing and that is why they are up at this price right now and more broadly today, stocks are lower perhaps on concerns that china trade talks have stalled out question now, what does 2020 have in as to are in store laura cain is with us. And to biggie back opiggyback t conversation we were having, you must be positive thats correct three pieces of uncertainty are mostly coming from trade, upcoming election and the direction of monetary and fiscal policy going into next year. And we uncertainties and where we want to position is away from trade and more toward the consumer which we see as supported by the strong labor market and strong consumer Balance Sheet so we are on positive on the consumer but that being said, i think that there will be differ generation in the retail space and are you positive u. S. We are neutral. But it is one of the preferred markets that you have or no . So we do see opportunity in the u. S. Market. But we are what we like is that lot of the u. S. Market is driven domestically. So if you look at u. S. Companies, they are getting about 69 of their revenues generated domestically and that is attractive because you are less caught in the crosshairs of trade versus europe. Do you feel like valuations have gotten stretched in the u. S. I would say they are about fair at this point in time and we expect to see kind of more volatility and kind of fits and starts especially through the trade situation and going into next year as we see certain sectors coming into the crosshairs of election so i think that they are about fair and were expecting more volatility ahead what does it tell you with all the risks stocks feel like they still want to go up there is underlying strength in the economy i think in part driven by the consumer and i think that what we believe is that if we actually get some relief on the trade front, there is up side for stocks. Weve just had this dark cloud lingering for a time that has prevented stocks from moving forward. When the news because skewing positively, and now the news was more negative. So i think that we will continuation of the narrative. And i think everything that you said makes sense and of course there is this cloud but the market has been pushing higher weve had this cloud for the year and we once got through that whole inverted yield curve issue. And then it was like off to the races. So in september we had the move of the laggards and value stocks and then weve had a shift again in october so for the last six weeks, weve seen something i have a chart made maybe you can pull up it shows that the momentum stock, the ones leading the market earlier in the year, have lagged what has been very good are value stocks but legacy technology, microsoft, apple, amd, broad cqualcomm, financials but the best performing group is biotech. So biotech if you look at the chart, that is the top the average of the top contributors are up 24 . Now, that to me says the mar has broadened, not just value. Certainly not just value because technology is moving up. Also playing a bit of catchup. Exactly but that is a broadening of a market when all groups are catching up and it is not if you are just offensive or aggressive and i take this as a positive sign and those who havent been in the market want to get in, they dont want to show clients that they are not invested enough we actually had an Investor Survey that we did and we found that about 80 of the investors that we surveyed said they expect more volatility next year so in our viewer, we feel that investors are actually uncertain going into next year and twothirds said that they think markets will be more driven by geopolitical events than by fundamentals which makes it very difficult to predict and price some of the issues bhu oecause t outcomes can be binary how often are those surveys right . In this case the survey kind of confirms things that we already know weve been seeing clients have a preference for cash. So that does speak to the uncertain city what abo what about the issue of the fed as part of the backdrop . City what about the issue of the fed as part of the backdrop . Frnd where t and where the market with go lets listen to Lloyd Blankfein and what he told me yesterday. Low Interest Rates relatively high growth, no demand to those Interest Rates so there is a good macro backdrop now, the big risk as you talked about low Interest Rates, clearly if you have a commodity how does that get allocated efficiently and are there bubbles being formed i dont see them, but you never do his overall point, rates are low. Right . Good macro back drop with low Interest Rates. All these things have helped the market and i think that weve seen that boost to the point that we made earlier i think now at this stage the fed seems to have said that it will hold off unless we hit another soft batch so they will wait and see what happens with trade next year and how that trance lalts to the economic data. Because right now we have seen some of the weakness in manufacturing. It looks like it is starting to bottom so i think that it is wait and see mode i think that you listen to paul tudor jones, any of the folks that weve talked about repeatedly as far as dont fight the fed. They are not jacking rates to the up side like a year ago. Were at under 1ment about 8 for t 1. 8 for the ten year so i think is this a better environment for stocks and i do think that the fed will go forward with further cuts or maybe even tightening. As they have said, which ceos havent said the fed is saying china. So when we talk about the market, pressured by trade talks which i believe it is, it is not down that much i mean, you always see that kind of console days before you move higher that is part of my overall point when i say it feels like it wants to go higher. Not being pressured too much by even a temporary negative headline on trade. Are you expecting a deal next year or is part of your caution about the u. S. Related to directly to a lack of expectation that there will be a deal so right now our base case is that we get a phase one deal plaintiff the e before the end of the year we do think that some of the worst Case Scenarios have diminished, but i think the overall theme is that it is really tough to have conviction around a lot of these issues so i would say we have more uncertainty around our base case this year more so than years past do you have a number on the s p that you are looking for 3200 by middle of next year not too bad thanks for being here. Good to see you. Laura cain here is what else is coming up Energy Stocks the biggest laggards this year but Deutsche Bank says it is time to jump into three names. The desk debates it in our call of the day plus john and pete are back together for the latest trades they are making based on the activity in the Options Market servicenow put our workflows in the cloud. This changes everything. Youre right sir. Everything. No not everything, i mean youre still blatantly sucking up to me gary. Brilliantly observed, sir. Always three steps ahead. Six steps ahead. Sixteen. So many steps. You done . A million steps ahead. Servicenow. Works for you. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. We love getting your questions. If you want to send them to us, cnbc. Com halftime. And well answer them near the end of the show. Rough year for Energy Stocks but Deutsche Bank initiating coverage of select Oilfield Services companies they say buy baker hughes, halliburton and schlumberger and weve made it our call of the day. Some have gotten smoked. What do you think of this call, do you want to buy some of these names . I think youre right, they have absolutely been slaughtered. So if you will put it out right now, i think some of those names do have great opportunity for the up side. Id still rather be in some of the names that they can prove that they can maintain themselves and not go further done baker hughes, i mean these transocean, which they say is down 33 already schlumberger has done nothing this year. Baker hughes next to nothing halliburton down and many have big short interests when you look across Different Energy names so id say do i have option positions . Yeah, i do and some of the Service Names specifically but if im actually willing to own the stock or think it is something other than a squeeze to the up side, ird rather be in the stocks that im in like Kinder Morgan where the guy who found the Company Keeps buying back his own stock and Something Like exxonmobil, maybe chevron you have transocean calls t im saying calls is the opportunity and by the way, the premiums in there are really, really low so the opportunities are risk reward is phenomenal in names like that because they have been so beaten up i havent had any interest in it to me the underlying c licommol is geo speculative and there are other ways to be frustrated and not make much money. Ive found some of them and ill stay with those rather than going energy even the best most educated investors lose money so the point about the Oil Service Industry is the following. You dont need as much oil service to produce the oil because of technology. There has been so much advance particularly in tracking that doesnt need the deep water rigs that many of theized in. They dont get the margins that they used to but at some point the stocks will start to go up. And it doesnt really matter i see he differentiates. When there is a rally, they will all go up together it could be tomorrow, or a year from now, because that is what happens with big laggard groups. When they havethe rally, it is unexpected and usually an external event and it is an opportunity cost. You buy those and you are not owning something else. The other point is that youve lost a major part of the investors that cant buy these because of esg being 26 of all u. S. Assets. So they dont want to buy anything that has to do with fossil fuels or anything else. A great point so that is another reason not to own it. Final five weeks, very volatile in the energy market. You have names that everyone including myself talked about. Diamond back, down 20 year to date eog. All these players, were finally drawing the distinction who is the winner and loser hess is name i own, they will be a win on the other side of this and the Services Name to carries point, transocean, they are challenged specifically when you look at hatheir balance she. Schlumberger is more diversified, less offshore so they can survive. But the next six week, up see a tremendous shakeout, a lot of pressure on the ones that have been lost and on the other side of that, focus on the winners and exxonmobil and chevron, those will be the long term survivors. Just look at how these performed when we had the attack on the saudi facility. You saw spikes in a number of vn in a heartbeat some have recovered to maybe 70 . But that is a selling opportunity, not a buying opportunity. Lets go to dom chu with a market flash for us. Auto sector, shares of Fiat Chrysler and gm in focus and is this because of headlines coming out of both gm and Fiat Chrysler with regard to a lawsuit that gm is filing against fee at chrysler. In it, Fiat Chrysler is alleged to have disadvantaged General Motors with regard to Union Negotiations dates back as far as 2009. They allege that Fiat Chrysler colluded with and had corrupted practices with the uaw and that led to disadvantaged scenarios for General Motors with regard to labor and other costs in it, they are seeking substantial damages but that is why the shares are moving to the do upside, nearly 3 you can see in the chart there back over to you appreciate that good segue to get to our next interview. Phil lebeau is at the l. A. Auto show with a special guest. Phil, i dont know if you were listening to dom if you want to comment on the gm suit you are the guy who knows this industry better than everyone else not surprising. Talking with people at General Motors, this is something that they have talked about for some time so im not surprised to hear about the lawsuit. Well learn more later on today as we hear more from the attorney representing january mo gener General Motors and their feelings about Fiat Chrysler. Ary General Motors and their feelings about Fiat Chrysler with that said, i do want to transition is to something completely different this is the man who runs Jaguar Land Rover and we are in front of the defender we havent had the defender in the u. S. Since late 90s 23 years and we are bringing it back tito the u. S how comfortable do you feel for the demand out there for luxury suvs . I guess the market really is looking for a very special product. Its power, its capability. And the new defender is a very special product. And lets talk about the electric vehicles. There a chicken and egg question because we see so many really starting to come into the market right now. Is the market demanding that or are we looking at the industry pushing it it is close at the end of the day. First of all, there is a hyatt track differenceness for an electric vehicle but the customer hesitates because first of all the price is higher and secondly it is a matter of convenience. And so we have to make sure that we get better products with lower price and on the other side simultaneously create the infrastructure in attracting customers and also developing an infrastructure with the quantity and quality of charging points and one last question brexit this has been a real thorn in your side trying to plan you shut down the plants a couple times are you confident that you can go without having to shut the plants down again over the next year we have shut down the plants twice and that costs a lot of money. Im pretty sure that also the politicians are looking for a solution for the better of society. So i hope that they found a solution at the moment, it is election time and that is the reason that i dont want to make comment we have to see the terms and conditions doctor, thank you you put up with us talking about the gm and the music thanks back to you. And i appreciate it i know this is not what you expected to do at the top there. But you handled it lets gett ethe headlines now. Here is what is happening pacific gas and electric has begun shutting off power to residents in the San Francisco bay area amid warm and windy weather that can help fan wildfires. The utility is trying to prevent its power lines from sparking fires. The shutoffs are expected to affect 75,000 people and last into thursday. A small group of antigovernment protestors remand hold up at a Hong Kong University as they brace for the end game and police siege of the campus they have not left because they would face Arrests Police have cordoned off the area dozens of antigovernment protestors blocked the entrance of a port in basra it stopped movement of trucks in and out of that area it is the main port for iraqs xwra grain, vegetable and sugar imports. And Myles Garrett leaving nfl headquarters after appealing his season long suspension after ripping off the helmet of Mason Rudolph and hitting him on the head with it garrett made no comment as he got into awaiting car. You are uptodate back to you. Some options bulls are finding opportunity in infrastructure and telecom stay tuned for the actual names with john and pete and now a check of the s p sectors before we head to a quick break led by energy. It is a down day though for stocks the world is built for you. So why isnt it all about you when it comes to your money . So. Whats on your mind . We are a 97yearold firm built for right now. Edward jones. Its time for investing to feel individual. This piece is talking yeah . So what do you see . I see an unbelievable opportunity. I see bestinclass platforms and education. I see awardwinning service, and a trade desk full of experts, available to answer your toughest questions. And i see it with zero commissions on online trades. I like what youre seeing. Its beautiful, isnt it . Yeah. Td ameritrade now offers zero commissions on online trades. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Each day our planet awakens but with opportunity comes risk. And to manage this risk, the world turns to cme group. We help farmers lock in future prices, banks manage Interest Rate changes and airlines hedge fuel costs. All so they can manage their risks and move forward. Its simply a matter of following the signs. They all lead here. Cme group how the world advances. I am totally blind. And non24 can throw my days and nights out of sync, keeping me from the things i love to do. Talk to your doctor, and call 8442142424. Verizon down about 3 . And take a look at this one, good 59. 30 as we are going on air with this and they are buying up side calls the 62. 50 calls in particular. And they boit them in pretty good numbers how big . 10,000 of the march 62. 50s it is always time frame and strike price so i bought these calls, they traded 1,00,000 of them, they we under a buck so a clean shot and ill proposbably be in these ab two months and se, one that has delighted us time and time again, working yet again. We talked last week about these calls being bought aggressively. Stock is now 37. 60 traded up through 38 today these calls up 270 the ones that we settled last week. Second one, no the so got so go. This was wwe they had a big hiccup in south calls lost half their value. I sxits exited those calls aro 1 1. 50. And let me ask you about se you said it keeps working. Why dont just buy the stock if you have that kind of feeling or you at least see the fact that these calls keep working well . Well, number one, it is trading to highs each time that it does this so im not as comfortable owning the stock as i am objecting lwna 1 call. And the other reason, i like the idea that i can put a little bit the of money on the table and spread it out on the rest of the trades it is all about leverage and discipline john talked about the one that didnt work. Wwe didnt work. Cut your losses and get out. This one, it is working. Take a look at the returns that you get when you are looking at the stock, maybe up 5, 10, 15 percent. How about the fact that your returns wiare 178 so that is on the reason to be in the options thank you for that. And i have a name that we dont really talk about very often. Quanta services. When they first started buying these, i got to point out, stock was trading 42 it is a little higher now. So these options have obviously moved to the up side as well but they are going after january and you can see approaching 4,000 these january 43 calls they are trading about 1. 10. I rewardrisk reward. Seems like people are pushing out a bit. And i got another one for you as well you want to talk about pushing out, luckin coffee, this isa chinese name that competes with starbucks. They beat on revenues. Stock popped up toward 30. And now they are going out to 2021 and booiring the 30 strike calls. Take a look at these numbers these are big numbers. And that this is a 5. 50 option. Huge premium so that gives me more confidence to hold on to that stock and try to get a little concern offer of those. Good stuff. Coming up, betting on growth Morgan Stanley has a new list of stocks to own. Ght,eef r hrou i s iou traders agree. In the trends driving specific sectors of outperformance. Where a rising middle class powers a booming auto industry. A leap into the digital era draws youthful populations to mobile banking and ecommerce. Trade and travel surge between emerging markets. Every day, our 1,100 investment professionals around the world search out opportunities for alpha. Partner with pgim, the Global Investment management businesses of prudential. Ive been a caregiver for 20 years. No two patients are the same. Predicting the next step for them can be challenging. Today were using the ibm cloud to run new analytics tools that help us better predict and plan a patients recovery. Ultimately, its helping thousands of patients return home. And who doesnt love going home. Welcome back blockbuster testimony in the latest impeachment inquiry hearings ylan mui with the latest for us. We are now in a second round of detailed questioning by staff of Eu Ambassador slochbd oi ucu. Republicans are trying to draw the line between burisma and the bidens i never heard Vice President biden come up until very late in the game when . I dont recall the exact date but when it and i will sort of came together. Maybe after the transcript of the july 25th call i dont know i dont know the exact date when i made the connection. Apparently a lot of people did not make the connection. Republicans have been trying to paint sondland as inconsistet wit and he did not take notes and relied on a lot of resu presumptions as for trump, he told reporter that he is didnt know sondland very well but that he did tell him twice that he wanted nothing from ukraine and that there was no quid pro quo. Back over to you all right that you thin thank you. Morgan be stanley is out with a list of stocks that will lead the way. And there you go, facebook, visa, netflix, amazon, alphabet, lulu, names that are very well represented on this desk lets pick some of these apart lets go around the horn joe. Mastercard and pay pal are two that i own lets talk about master card, pay pal and visa and the opportunity that it presents look at the emerging market opportunity. The Revenue Growth right now in india and revenue actual exposure is only 2 . Think about the potential opportunity there as we go from a society that is using less cash and moving more to a digital Pavement Structure i think both of thouof those nah fact that technology as a tech tore contin sector continues to grow and i think that they continue to work and we own many of these nam names. Alphabet, amazon, facebook, crm, pay pal, i feel like they are laggards that much momentum names. Led the first half of the year theyve really been in a slump or theyre pausing starting to pick up now and these are the names if if that if there is going to be growth next year and you have to assume for the market to go higher, we see earnings growth, they are going to be producing it so alphabet, facebook, visa, paypal these are growing earnings in the 15 to 23 range. They sell for some of the market multiples 20 times earnings. Target sells for 20 times earnings blackstone thats a Global Growth scenario. So i think that youve got some really good names that have not participated as much recently and we would agree that for the market to move higher, theyll have to participate. How about tulio, joe . Its on the list. It is on list some accounting issues i think pete john had some unusual activity recently on it which seems to have worked out well at the hundred strike but i have not reentered the position i want to get more clarification on the accounting issues and then ill come in the next quarter. Doc i do like tulio im with joe on paypal i really like insight as far as bio pharma and healthcare, scott, because i think this is a pretty critical area and i know Jenny Harrington talked about this last week this was one of her holdings at her portfolio. Tesla. Data dog data dog its one you dont see very often. But yes, facebook i like but data dog is one of those thats, you know, just kind of quiet. Its not so much in the headlines all the time like facebook but i like that pick. Okay. Pete looking through the list, i love facebook. I see that one obviously stands out for me because i own it already. Netflix you already own but i think thats a gamble because we all know what the competition live revels are when i look at visa, mastercard, the name they didnt have out there is the name i would take first is American Express. The reason i say is i look where it trades in terms of valuation. Little bit different than visa and mastercard in terms of a little more risky probably but i like it. I like the exposure they have here in terms of being here in north america generally and not as much exposure in the international markets. I think that is a name thats been undervalued for far too along. Im going to give you addition to those. Im going to give you the tower stocks i own crowd castle but, you know, we heard yesterday john fort did an interview with qualcomm and the ceo pointed out that 5g is going to be a 13 trillion opportunity by 2035 in fact, the work ive done, youll see spending on it by 2 trillion over the next couple years. They need more space on the towers the others came down and the yields were higher id buy those. Right now, theyre elevated because of where treasuries are. Good stuff. All right. Coming up, were answering your questions. Plus, final trades straight ahead on the halftime report. Im a regular in my neighborhood. Im a regular at my local coffee shop and my local barber shop. When you shop small you help support your community from after School Programs to the arts so become a regular, more regularly. Because for every dollar you spend at a Small Business, an average of 67 cents stays in the community. Join me and American Express on Small Business saturday, november 30th, and see how shopping small adds up. On one top banking stock that could be the best way to play the rally in financials. Go to trading nation. Cnbc. Com. Who says our bank isnt tech enough . Everyone, look at your phones. The design thinking, the digital engineering, security, blockchain, and we will be first to market yes. When we do we launch . Unfortunately, in 2 or 3, hours. Why the delay . Cognizant is helping banks use Digital Technologies at scale to advance speed to market. Sometimes, they just drop in. Obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Nongmo, made with naturally sundown vitamins are all sourced colors and flavors and are gluten dairy free. Theyre all clean. All the time. Even if sometimes were not. Sundown vitamins. All clean. All the time. Welcome back want to give you a market alert because of that right there. Market taking a sharp turn lower down about 190 right now on a reuters report that phase one of the trade deal may not, in fact, be done this year. Stocks not reacting well to that for the very reason that i mean we have a market conversation every show and without fail, phase one comes up as having to happen for the stock market to go higher. Happened with laura at the top of the show, right, scott . She anticipated and her customers believe itll happen this year. Now, a pushback, its not surprising to see the market pull back. But you still dont know whats negotiation, whats not this could be china planting a story and saying, hey, president trump, this is what could happen if we dont have a deal. I know you focus on the market. But still, the risk reward, much bigger risk than upside if there is a deal. We came into today saying maybe stocks were a little bit lower because of, you know, concerns that talks have stalled. Well, this is sort of further confirmation that not only have talked stalled it looks like this phase one, which was supposed to be done yesterday. Yeah. Real quick, the impact on the market as liquidity lessens in the final five weeks, its going to be more exacerbated as you get negative headlines like this. Lets get final trades real quick across the board. You have to change it because it was baba so lets go crowd castle. Ill give you xre. Run. Stz constellation. Dominos pizza. Good stuff. The exchange starts now. Thank you very much, scott. Welco welcome to the exchange. Heres what s head es the Senate Passing de momocracy bill it could have a major impact on trade talks. Senator josh holly, one of the bills cosponsors will join us. Plus, teflon tim strikes again the apple ceo touring a mac pro plant with the president in texas in what is sure to be an eyecatching photo op. A look at how mr. Cook has become the trump whisperer and a top strategist says there is one worrisome chart on the majority right now